ADM Archer Daniels Midland Company

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Explanatory Note

Archer-Daniels-Midland Company (the “Company”) is filing this Amendment No. 1 on Form 10-Q/A (this “Amendment”) to its Quarterly Report on Form 10‑Q for the quarter ended March 31, 2024, which was originally filed with the United States Securities and Exchange Commission (“SEC”) on April 30, 2024 (the “Form 10‑Q”).

In filing this Amendment, the Company is restating its previously issued unaudited consolidated financial statements as of March 31, 2024 and 2023 and for the quarters ended March 31, 2024 and 2023 (collectively, the “Affected Periods”) for the correction of certain segment-specific historical financial information as further described below.

In addition, the Company filed an amendment to its Annual Report on Form 10-K for the year ended December 31, 2023 and intends to file an amendment to its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, originally filed with the SEC on March 12, 2024 and July 30, 2024, respectively (such reports, together with this Amendment, the “Amended Reports”). All material restatement information will be included in the Amended Reports, and the Company does not intend to separately amend other filings that were previously filed with the SEC.

Accordingly, investors and other readers should rely only on the financial information and other disclosures regarding the periods described above in this Amendment and in any other future filings with the SEC (as applicable) and should not rely on any previously issued or filed reports, press releases, corporate presentations or similar communications relating to the Affected Periods.

Background of Correction

Following ongoing dialogue with the staff of the SEC, the Company concluded that it would amend the 2023 Form 10-K and Form 10-Qs for the first and second quarters of 2024 (collectively, the “Q1 and Q2 2024 Form 10-Qs”) to restate the segment information disclosure included in those filings. These restatements do not impact ADM’s Consolidated Statements of Earnings, Consolidated Statements of Comprehensive Income (Loss), Consolidated Balance Sheets, Consolidated Statements of Cash Flows or Consolidated Statements of Shareholders’ Equity as of and for the periods presented in the Amended Reports.

As previously disclosed in Note 13. Segment Information, to the Company’s unaudited Consolidated Financial Statements included in the Form 10-Q, the Company identified and corrected certain intersegment sales amounts that either (i) were not in accordance with prior disclosures about presenting such sales at amounts approximating market or (ii) included intrasegment sales (resulting from sales within the segment) and should have included exclusively intersegment sales (resulting from sales from one segment to another). In connection with the error corrections, the Company identified a material weakness in its internal control over financial reporting related to its accounting practices and procedures for intersegment sales. The Company put in place a plan to remediate this material weakness, as disclosed in the 2023 Form 10-K and Q1 and Q2 2024 Form 10-Qs.

In the course of testing new controls implemented as part of the Company’s material weakness remediation plan in the third quarter of 2024, the Company identified additional misclassified intersegment transactions. These newly identified errors concern additional intersegment sales for each of its Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition segments that included certain intrasegment sales and should have included exclusively intersegment sales. The Company also identified some intersegment transactions between Ag Services and Oilseeds and Carbohydrate Solutions that were not accounted for consistently in accordance with revenue recognition and segment reporting standards and should not have been reported as intersegment sales. The Company also is correcting certain segment disclosure presentation errors in the Amended Reports.

This Amendment reflects corrections for the newly identified errors related to intersegment sales (described below), the previously-corrected errors related to intersegment sales and segment operating profit, and other segment disclosure corrections (See Note 1 to the Consolidated Financial Statements in this Amendment for further information).

Restatement of Consolidated Financial Statements

This Amendment includes unaudited restated Consolidated Financial Statements for the Affected Periods. See Note 13 to the Consolidated Financial Statements in this Amendment for the restated unaudited segment information as of March 31, 2024 and 2023 for the quarters ended March 31, 2024 and 2023.

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Items Amended in This Filing

This Amendment amends and restates the following items of the Form 10-Q:

•Part I - Item 1. Financial Statements

•Part I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

•Part I - Item 4. Controls and Procedures

•Part II - Item 1A. Risk Factors

•Part II - Item 6. Exhibits

The exhibit list included in Item 6, “Exhibits” herein has been amended to contain currently dated certifications from the Company’s Chief Executive Officer (as Principal Executive Officer) and Chief Financial Officer (as Principal Financial Officer), as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 and filed as Exhibits 31.1/31.2 and 32.1/32.2, respectively.

In accordance with applicable SEC rules, this Form 10-Q/A also includes an updated signature page.

Please note that the only changes to the Form 10-Q are those related to the matters described herein and only in the Items listed above. Otherwise, this Amendment speaks as of the original filing date of the Form 10-Q, and does not modify, amend or update any other item or disclosures in the Form 10-Q. As such, this Amendment does not reflect events occurring after the filing of the Form 10-Q or modify or update those disclosures affected by subsequent events.

Such subsequent information or events include, among others, the information and events described in our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024, which we are restating currently with this Amendment, and the information and events described in our Current Reports on Form 8-K filed subsequent to the date of the Form 10-Q. For a description of such subsequent information and events, please read our reports filed pursuant to the Exchange Act subsequent to the date of the Form 10-Q, which update and supersede certain information contained in the Form 10-Q and this Amendment.

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The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024.  For further information, refer to the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K/A for the year ended December 31, 2023 for Archer-Daniels-Midland Company (the Company or ADM).

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries.  All significant intercompany accounts and transactions have been eliminated.  The Company consolidates all entities, including variable interest entities (VIEs), in which it has a controlling financial interest. For VIEs, the Company assesses whether it is the primary beneficiary as defined under the applicable accounting standard. Investments in affiliates, including VIEs through which the Company exercises significant influence but does not control the investee and is not the primary beneficiary of the investee’s activities, are carried at cost plus equity in undistributed earnings since acquisition and are adjusted, where appropriate, for basis differences between the investment balance and the underlying net assets of the investee and impairments determined to be other than temporary in nature.  The Company’s portion of the results of certain affiliates and results of certain VIEs are included using the most recent available financial statements.  In each case, the financial statements are within 93 days of the Company’s year end and are consistent from period to period.

Restatement of Previously Filed Financial Statements

Following ongoing dialogue with the staff of the United States Securities and Exchange Commission, the Company concluded that it would amend its fiscal year 2023 Form 10-K (the “FY2023 Form 10-K”) and Forms 10-Q for the first and second quarters of 2024 (collectively, the “Q1 and Q2 2024 Form 10-Qs”) to restate the segment information disclosure included in those filings. These restatements do not impact ADM’s Consolidated Statements of Earnings, Consolidated Statements of Comprehensive Income (Loss), Consolidated Balance Sheets, Consolidated Statements of Cash Flows or Consolidated Statements of Shareholders’ Equity as of and for the periods presented in the Amended Reports.

As previously disclosed in Note 13. Segment Information, to ADM’s consolidated financial statements included in the Form 10-Q for the quarter ended March 31, 2024, ADM identified and corrected certain intersegment sales amounts that either (i) were not in accordance with prior disclosures about presenting such sales at amounts approximating market or (ii) included intrasegment sales (resulting from sales within the segment) and should have included exclusively intersegment sales (resulting from sales from one segment to another). In connection with the error corrections, ADM identified a material weakness in its internal control over financial reporting related to its accounting practices and procedures for intersegment sales. The Company put in place a plan to remediate this material weakness, as disclosed in the FY2023 Form 10-K and Q1 and Q2 2024 Form 10-Qs.

In the course of testing new controls implemented as part of the Company’s material weakness remediation plan in the third quarter of 2024, ADM identified additional intrasegment sales previously misclassified and reported as intersegment sales. These newly identified errors concern intersegment sales for each of its Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition segments that included certain additional intrasegment sales and should have included exclusively intersegment sales. The Company also identified some intersegment sales between Ag Services and Oilseeds and Carbohydrate Solutions that were not accounted for consistently in accordance with revenue recognition and segment reporting standards and should not have been reported as intersegment sales.

The Company also is correcting certain segment disclosure presentation errors. In this Amendment, the Company is revising its reconciliation and calculation of total segment operating profit. The revised reconciliation in Note 13. Segment Information presents a subtotal for total segment operating profit that is equal to the sum of the segment operating profit reported for each of the Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition segments. Amounts for other business and specified items,

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which previously were reflected in the calculation of total segment operating profit, are now reflected as reconciling items, similar to Corporate, between total segment operating profit and earnings before income taxes.

The Company has restated its Consolidated Financial Statements for the quarters ended March 31, 2024 and 2023 in Note 13, Segment Information (Unaudited).

Segregated Cash and Investments

The Company segregates certain cash, cash equivalents, and investment balances in accordance with regulatory requirements, commodity exchange requirements, and insurance arrangements. These balances represent deposits received from customers of the Company’s registered futures commission merchant and commodity brokerage services, cash margins and securities pledged to commodity exchange clearinghouses, and cash pledged as security under certain insurance arrangements. Segregated cash and investments also include restricted cash collateral for the various insurance programs of the Company’s captive insurance business. To the degree these segregated balances are comprised of cash and cash equivalents, they are considered restricted cash and cash equivalents on the consolidated statements of cash flows.

Receivables

The Company records receivables at net realizable value in trade receivables, other current assets, and other assets.  These amounts include allowances for estimated uncollectible accounts to reflect any loss anticipated on the accounts receivable balances including any accrued interest thereon. The Company estimates uncollectible accounts by pooling receivables according to type, region, credit risk rating, and age. Each pool is assigned an expected loss co-efficient to arrive at a general reserve based on historical write-offs adjusted, as needed, for regional, economic, and other forward-looking factors. The Company minimizes credit risk due to the large and diversified nature of its worldwide customer base. ADM manages its exposure to counter-party credit risk through credit analysis and approvals, credit limits, and monitoring procedures. Long-term receivables recorded in other assets were not material to the Company’s overall receivables portfolio.

Changes to the allowance for estimated uncollectible accounts are as follows:

			March 31, 2024			March 31, 2023
			(In millions)
Beginning, January 1			$	215		$	199
Current year provisions			5			4
Recoveries			8			1
Write-offs against allowance			(13)			(24)
Foreign exchange translation adjustment			1			1
Other			—			1
Ending, March 31			$	216		$	182

Write-offs against allowance in the three months ended March 31, 2024 were primarily related to long-term receivables. Write-offs against allowance in the three months ended March 31, 2023 were primarily related to allowance on receivables that were subsequently sold.

Inventories

Certain merchandisable agricultural commodity inventories, which include inventories acquired under deferred pricing contracts, are stated at market value.  In addition, the Company values certain inventories using the first-in, first-out (FIFO) method at the lower of cost or net realizable value.

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The following table sets forth the Company’s inventories as of March 31, 2024 and December 31, 2023.

			March 31, 2024						December 31, 2023
			(In millions)
Raw materials and supplies			$	1,880					$	1,944
Finished goods			3,047						3,026
Market inventories			6,707						6,987
Total inventories			$	11,634					$	11,957

Included in raw materials and supplies are work in process inventories which were not material as of March 31, 2024 and December 31, 2023.

Cost Method Investments

Through December 31, 2024, the Company has the option to adopt the amended guidance of Accounting Standards Codification (ASC) 848, Reference Rate Reform, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amended guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2024, except for hedging relationships existing as of December 31, 2024, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. Through March 31, 2024, ADM has completed the transition of its financing, funding, and hedging portfolios from LIBOR to alternative reference rates. The transition did not have an impact on the Company’s consolidated financial statements.

Effective December 31, 2024, the Company will be required to adopt the amended guidance of ASC 280, Segment Reporting, which improves disclosures about a public entity’s reportable segments and addresses requests from investors and other allocators of capital for more detailed information about a reportable segment’s expenses. The amended guidance improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses and permits entities to disclose more than one measure of a reportable segment’s profitability used by the Chief Operating Decision Maker. The adoption of the amended guidance will result in expanded disclosures in the Company’s segment and geographic information footnote but will not have an impact on the consolidated financial statements.

Effective December 31, 2025, the Company will be required to adopt the amended guidance of ASC 740, Income Taxes, which enhances the transparency and decision usefulness of income tax disclosures. The amendments address investor requests for more transparency about income tax information. The adoption of the amended guidance will result in expanded disclosures in the Company’s income taxes footnote but will not have an impact on the consolidated financial statements.

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

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animal nutrition. Revenue is measured based on the consideration specified in the contract with a customer. 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 mode of transportation moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $193 million and $178 million for the three months ended March 31, 2024 and 2023, 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 transaction 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 the Company has yet to provide. Contract liabilities of $508 million and $626 million as of March 31, 2024 and December 31, 2023, respectively, were recorded in accrued expenses and other payables in the consolidated balance sheets. Revenues recognized in the three months ended March 31, 2024 from the December 31, 2023 contract liabilities were $235 million.

Disaggregation of Revenues

The following tables present revenue disaggregated by timing of recognition and major product lines for the three months ended March 31, 2024 and 2023.

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			Three Months Ended March 31, 2024
			Topic 606 Revenue									Topic 815(1)			Total
(In millions)			Point in Time			Over Time			Total			Revenue			Revenues
Ag Services and Oilseeds
Ag Services			$	1,022		$	193		$	1,215		$	9,982		$	11,197
Crushing			117			—			117			3,210			3,327
Refined Products and Other			548			—			548			2,147			2,695
Total Ag Services and Oilseeds			1,687			193			1,880			15,339			17,219
Carbohydrate Solutions
Starches and Sweeteners			1,593			—			1,593			563			2,156
Vantage Corn Processors			527			—			527			—			527
Total Carbohydrate Solutions			2,120			—			2,120			563			2,683
Nutrition
Human Nutrition			964			—			964			—			964
Animal Nutrition			872			—			872			—			872
Total Nutrition			1,836			—			1,836			—			1,836
Total Segment Revenues			5,643			193			5,836			15,902			21,738
Other Business			109			—			109			—			109
Total Revenues			$	5,752		$	193		$	5,945		$	15,902		$	21,847

			Three Months Ended March 31, 2023
			Topic 606 Revenue									Topic 815(1)			Total
(In millions)			Point in Time			Over Time			Total			Revenue			Revenues
Ag Services and Oilseeds
Ag Services			$	1,017		$	178		$	1,195		$	10,500		$	11,695
Crushing			191			—			191			3,492			3,683
Refined Products and Other			626			—			626			2,575			3,201
Total Ag Services and Oilseeds			1,834			178			2,012			16,567			18,579
Carbohydrate Solutions
Starches and Sweeteners			2,084			—			2,084			653			2,737
Vantage Corn Processors			800			—			800			—			800
Total Carbohydrate Solutions			2,884			—			2,884			653			3,537
Nutrition
Human Nutrition			936			—			936			—			936
Animal Nutrition			917			—			917			—			917
Total Nutrition			1,853			—			1,853			—			1,853
Total Segment Revenues			6,571			178			6,749			17,220			23,969
Other Business			103			—			103			—			103
Total Revenues			$	6,674		$	178		$	6,852		$	17,220		$	24,072

(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.

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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. 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 mode of transportation 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 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.

During the three months ended March 31, 2024, the Company acquired Revela Foods (“Revela”), a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients and solutions, FDL, a UK-based leading developer and producer of premium flavor and functional ingredient systems, and PT Trouw Nutrition Indonesia (“PT”), a subsidiary of Nutreco and leading provider of functional and nutritional solutions for livestock farming in Indonesia, for an aggregate cash consideration of $924 million.

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The aggregate cash consideration of these acquisitions, net of $9 million in cash acquired, was allocated as follows, subject to final measurement period adjustments:

(In millions)			Revela			FDL			PT			Total
Working capital			$	50		$	—		$	5		$	55
Property, plant, and equipment			38			33			5			76
Goodwill			403			145			5			553
Other intangible assets			166			97			—			263
Other long-term assets			28			1			—			29
Long-term liabilities			(35)			(26)			—			(61)
Aggregate cash consideration			$	650		$	250		$	15		$	915

Goodwill recorded in connection with the acquisitions is primarily attributable to the synergies expected to arise after the Company’s acquisition of the businesses. Of the $553 million allocated to goodwill, none is expected to be deductible for tax purposes.

These acquisitions add capabilities to the Human and Animal Nutrition businesses. The Company’s consolidated statement of earnings for the quarter ended March 31, 2024 includes the post-acquisition results of the acquired businesses which were immaterial.

The following table sets forth the fair values and the useful lives of the other intangible assets acquired.

			Useful Lives									Revela			FDL			Total
			(In years)									(In millions)
Intangible assets with finite lives:
Trademarks/brands			3									$	—		$	4		$	4
Customer lists			10			to			18			124			73			197
Recipes and others			10			to			21			42			20			62
Total other intangible assets acquired												$	166		$	97		$	263

The following tables set forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2024 and December 31, 2023.

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			Fair Value Measurements at March 31, 2024
			Quoted Prices in  Active Markets  for Identical  Assets  (Level 1)						Significant  Other  Observable  Inputs  (Level 2)						Significant  Unobservable Inputs (Level 3)						Total
			(In millions)
Assets:
Inventories carried at market			$	—					$	3,759					$	2,948					$	6,707
Unrealized derivative gains:
Commodity contracts			—						598						764						1,362
Foreign currency contracts			—						187						—						187
Cash equivalents			206						—						—						206
Segregated investments			1,663						—						—						1,663
Total Assets			$	1,869					$	4,544					$	3,712					$	10,125
Liabilities:
Unrealized derivative losses:
Commodity contracts			$	—					$	448					$	435					$	883
Foreign currency contracts			—						94						—						94
Inventory-related payables			—						1,928						62						1,990
Total Liabilities			$	—					$	2,470					$	497					$	2,967

			Fair Value Measurements at December 31, 2023
			Quoted Prices in  Active Markets  for Identical  Assets  (Level 1)						Significant  Other  Observable  Inputs  (Level 2)						Significant  Unobservable Inputs (Level 3)						Total
			(In millions)
Assets:
Inventories carried at market			$	—					$	4,274					$	2,713					$	6,987
Unrealized derivative gains:
Commodity contracts			—						628						731						1,359
Foreign currency contracts			—						187						—						187
Cash equivalents			209						—						—						209
Segregated investments			1,362						—						—						1,362
Total Assets			$	1,571					$	5,089					$	3,444					$	10,104
Liabilities:
Unrealized derivative losses:
Commodity contracts			$	—					$	500					$	457					$	957
Foreign currency contracts			—						144						—						144
Inventory-related payables			—						1,219						101						1,320
Total Liabilities			$	—					$	1,863					$	558					$	2,421

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Estimated fair values for inventories and inventory-related payables carried at market are based on exchange-quoted prices, adjusted for differences in local markets and quality, referred to as basis. Market valuations for the Company’s inventories are adjusted for location and quality (basis) because the exchange-quoted prices represent contracts with standardized terms for commodity, quantity, future delivery period, delivery location, and commodity quality or grade. The basis adjustments are generally determined using the inputs from competitor and broker quotations or market transactions and are considered observable. Basis adjustments are impacted by specific local supply and demand characteristics at each facility and the overall market. Factors such as substitute products, weather, fuel costs, contract terms, and futures prices also impact the movement of these basis adjustments. In some cases, the basis adjustments are unobservable because they are supported by little to no market activity. When unobservable inputs have a significant impact (more than 10%) on the measurement of fair value, the inventory is classified in Level 3. Changes in the fair value of inventories and inventory-related payables are recognized in the consolidated statements of earnings as a component of cost of products sold.

Derivative contracts include exchange-traded commodity futures and options contracts, forward commodity purchase and sale contracts, and over-the-counter (OTC) instruments related primarily to agricultural commodities, energy, interest rates, and foreign currencies.  Exchange-traded futures and options contracts are valued based on unadjusted quoted prices in active markets and are classified in Level 1.  Substantially all of the Company’s exchange-traded futures and options contracts are cash-settled on a daily basis and, therefore, are not included in these tables.  Fair value for forward commodity purchase and sale contracts is estimated based on exchange-quoted prices adjusted for differences in local markets.  Market valuations for the Company’s forward commodity purchase and sale contracts are adjusted for location (basis) because the exchange-quoted prices represent contracts that have standardized terms for commodity, quantity, future delivery period, delivery location, and commodity quality or grade. The basis adjustments are generally determined using inputs from competitor and broker quotations or market transactions and are considered observable. Basis adjustments are impacted by specific local supply and demand characteristics at each facility and the overall market. Factors such as substitute products, weather, fuel costs, contract terms, and futures prices also impact the movement of these basis adjustments. In some cases, the basis adjustments are unobservable because they are supported by little to no market activity.  When observable inputs are available for substantially the full term of the contract, it is classified in Level 2.  When unobservable inputs have a significant impact (more than 10%) on the measurement of fair value, the contract is classified in Level 3.  Except for certain derivatives designated as cash flow hedges, changes in the fair value of commodity-related derivatives are recognized in the consolidated statements of earnings as a component of cost of products sold.  Changes in the fair value of foreign currency-related derivatives are recognized in the consolidated statements of earnings as a component of revenues, cost of products sold, and other (income) expense - net, depending upon the purpose of the contract.  The changes in the fair value of derivatives designated as effective cash flow hedges are recognized in the consolidated balance sheets as a component of accumulated other comprehensive income (AOCI) until the hedged items are recorded in earnings or it is probable the hedged transaction will no longer occur.

The Company’s cash equivalents are comprised of money market funds valued using quoted market prices and are classified as Level 1.

The Company’s segregated investments are comprised of U.S. Treasury securities. U.S. Treasury securities are valued using quoted market prices and are classified in Level 1.

The debt conversion option was the equity linked embedded derivative related to the exchangeable bonds. The fair value of the embedded derivative was included in long-term debt, with changes in fair value recognized as interest, and was valued with the assistance of a third-party pricing service (a level 3 measurement).

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The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2024.

			Level 3 Fair Value Asset Measurements at
			March 31, 2024
			Inventories  Carried at  Market						Commodity Derivative Contracts Gains						Total  Assets
			(In millions)
Balance, December 31, 2023			$	2,713					$	731					$	3,444
Total increase (decrease) in net realized/unrealized gains included in cost of products sold*			(97)						375						278
Purchases			3,789						—						3,789
Sales			(3,883)						—						(3,883)
Settlements			—						(352)						(352)
Transfers into Level 3			516						28						544
Transfers out of Level 3			(90)						(18)						(108)
Ending balance, March 31, 2024			$	2,948					$	764					$	3,712

* Includes increase in unrealized gains of $564 million relating to Level 3 assets still held at March 31, 2024.

The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2024.

			Level 3 Fair Value Liability Measurements at
			March 31, 2024
			Inventory-  related  Payables						Commodity Derivative Contracts Losses																		Total  Liabilities
			(In millions)
Balance, December 31, 2023			$	101					$	457																	$	558
Total increase (decrease) in net realized/unrealized losses included in cost of products sold*			(3)						329																		326
Purchases			1						—																		1
Sales			(38)						—																		(38)
Settlements			—						(290)																		(290)
Transfers into Level 3			1						13																		14
Transfers out of Level 3			—						(74)																		(74)
Ending balance, March 31, 2024			$	62					$	435																	$	497

* Includes increase in unrealized losses of $338 million relating to Level 3 liabilities still held at March 31, 2024.

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The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2023.

			Level 3 Fair Value Asset Measurements at
			March 31, 2023
			Inventories  Carried at  Market						Commodity Derivative Contracts Gains						Total  Assets
			(In millions)
Balance, December 31, 2022			$	2,760					$	541					$	3,301
Total increase (decrease) in net realized/unrealized gains included in cost of products sold*			2						477						479
Purchases			8,665						—						8,665
Sales			(8,254)						—						(8,254)
Settlements			—						(382)						(382)
Transfers into Level 3			605						50						655
Transfers out of Level 3			(275)						(37)						(312)
Ending balance, March 31, 2023			$	3,503					$	649					$	4,152

* Includes increase in unrealized gains of $632 million relating to Level 3 assets still held at March 31, 2023.

The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2023.

			Level 3 Fair Value Liability Measurements at
			March 31, 2023
			Inventory-  related  Payables						Commodity Derivative Contracts Losses												Debt Conversion Option						Total  Liabilities
			(In millions)
Balance, December 31, 2022			$	89					$	603											$	6					$	698
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense*			(2)						243												(5)						236
Purchases			2						—												—						2
Settlements			(31)						(424)												—						(455)
Transfers into Level 3			—						39												—						39
Transfers out of Level 3			(1)						(6)												—						(7)
Ending balance, March 31, 2023			$	57					$	455											$	1					$	513

* Includes increase in unrealized losses of $248 million relating to Level 3 liabilities still held at March 31, 2023.

Transfers into Level 3 of assets and liabilities previously classified in Level 2 were due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts rising above the 10% threshold. Transfers out of Level 3 were primarily due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts falling below the 10% threshold and thus permitting reclassification to Level 2.

In some cases, the price components that result in differences between exchange-traded prices and local prices for inventories

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and commodity purchase and sale contracts are observable based upon available quotations for these pricing components, and in some cases, the differences are unobservable. These price components primarily include transportation costs and other adjustments required due to location, quality, or other contract terms. In the table below, these other adjustments are referred to as basis. The changes in unobservable price components are determined by specific local supply and demand characteristics at each facility and the overall market. Factors such as substitute products, weather, fuel costs, contract terms, and futures prices also impact the movement of these unobservable price components.

The following table sets forth the weighted average percentage of the unobservable price components included in the Company’s Level 3 valuations as of March 31, 2024 and December 31, 2023. The Company’s Level 3 measurements may include basis only, transportation cost only, or both price components. As an example, for Level 3 inventories with basis, the unobservable component as of March 31, 2024 is a weighted average 28.2% of the total price for assets and 25.9% of the total price for liabilities.

			Weighted Average % of Total Price
			March 31, 2024												December 31, 2023
Component Type			Assets						Liabilities						Assets						Liabilities
Inventories and Related Payables
Basis			28.2		%				25.9		%				25.0		%				33.2		%
Transportation cost			18.6		%				—		%				11.5		%				—		%
Commodity Derivative Contracts
Basis			40.1		%				28.2		%				24.2		%				24.9		%
Transportation cost			8.3		%				1.5		%				9.3		%				3.2		%

In certain of the Company’s principal markets, the Company relies on price quotes from third parties to value its inventories and physical commodity purchase and sale contracts. These price quotes are generally not further adjusted by the Company in determining the applicable market price. In some cases, availability of third-party quotes is limited to only one or two independent sources. In these situations, absent other corroborating evidence, the Company considers these price quotes as 100% unobservable and, therefore, the fair value of these items is reported in Level 3.

Derivatives Not Designated as Hedging Instruments

The majority of the Company’s derivative instruments have not been designated as hedging instruments. The Company uses exchange-traded futures and exchange-traded and OTC options contracts to manage its net position of merchandisable agricultural product inventories and forward cash purchase and sales contracts to reduce price risk caused by market fluctuations in agricultural commodities and foreign currencies.  The Company also uses exchange-traded futures and exchange-traded and OTC options contracts as components of merchandising strategies designed to enhance margins. The results of these strategies can be significantly impacted by factors such as the correlation between the value of exchange-traded commodities futures contracts and the value of the underlying commodities, counterparty contract defaults, and volatility of freight markets. Derivatives, including exchange-traded contracts and forward commodity purchase or sale contracts, and inventories of certain merchandisable agricultural products, which include amounts acquired under deferred pricing contracts, are stated at fair value.  Inventory is not a derivative and therefore fair values of and changes in fair values of inventories are not included in the tables below.

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The following table sets forth the fair value of derivatives not designated as hedging instruments as of March 31, 2024 and December 31, 2023.

			March 31, 2024												December 31, 2023
			Assets						Liabilities						Assets						Liabilities
			(In millions)
Foreign Currency Contracts			$	145					$	94					$	187					$	122
Commodity Contracts			1,351						883						1,343						957
Total			$	1,496					$	977					$	1,530					$	1,079

The following tables set forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the three months ended March 31, 2024 and 2023.

															Other (income) expense - net
									Cost of												Interest
(In millions)			Revenues						products sold												expense
Three Months Ended March 31, 2024
Consolidated Statement of Earnings			$	21,847					$	20,188					$	(26)					$	166
Pre-tax gains (losses) on:
Foreign Currency Contracts			$	1					$	(63)					$	54					$	—
Commodity Contracts			—						197						—						—
Total gain (loss) recognized in earnings			$	1					$	134					$	54					$	—					$	189
Three Months Ended March 31, 2023
Consolidated Statement of Earnings			$	24,072					$	21,992					$	(44)					$	147
Pre-tax gains (losses) on:
Foreign Currency Contracts			$	(11)					$	95					$	(16)					$	—
Commodity Contracts			—						440						—						—
Debt Conversion Option			—						—						—						5
Total gain (loss) recognized in earnings			$	(11)					$	535					$	(16)					$	5					$	513

Changes in the market value of inventories of certain merchandisable agricultural commodities, inventory-related payables, forward cash purchase and sales contracts, exchange-traded futures and exchange-traded and OTC options contracts are recognized in earnings immediately as a component of cost of products sold.

Changes in the fair value of foreign currency-related derivatives are recognized in the consolidated statements of earnings as a component of revenues, cost of products sold, and other (income) expense - net depending on the purpose of the contract.

Derivatives Designated as Cash Flow and Net Investment Hedging Strategies

The Company had certain derivatives designated as cash flow and net investment hedges as of March 31, 2024 and December 31, 2023.

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For derivative instruments that are designated and qualify as highly-effective cash flow hedges (i.e., hedging the exposure to variability in expected future cash flow that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of AOCI and as an operating activity in the statement of cash flows, and is reclassified into earnings in the same line item affected by the hedged transaction in the same period or periods during which the hedged transaction affects earnings.  Hedge components excluded from the assessment of effectiveness and gains and losses related to discontinued hedges are recognized in the consolidated statement of earnings during the current period.

Commodity Contracts

For each of the hedge programs described below, the derivatives are designated as cash flow hedges.  The changes in the market value of such derivative contracts have historically been, and are expected to continue to be, highly effective at offsetting changes in price movements of the hedged item.  Once the hedged item is recognized in earnings, the gains and losses arising from the hedge are reclassified from AOCI to either revenues or cost of products sold, as applicable.

The Company uses futures or options contracts to hedge the purchase price of anticipated volumes of corn to be purchased and processed in a future month.  The objective of this hedging program is to reduce the variability of cash flows associated with the Company’s forecasted purchases of corn.  The Company’s corn processing plants normally grind approximately 59 million bushels of corn per month. During the past 12 months, the Company hedged between 12% and 34% of its monthly grind. At March 31, 2024, the Company had designated hedges representing between 0% and 29% of its anticipated monthly grind of corn for the next 12 months.

The Company uses futures and options contracts to hedge the purchase price of the anticipated volumes of soybeans to be purchased and processed in a future month for certain of its U.S. soybean crush facilities, subject to certain program limits. The Company also uses futures or options contracts to hedge the sales prices of anticipated soybean meal and soybean oil sales proportionate to the soybean crushing process at these facilities, subject to certain program limits. During the past 12 months, the Company hedged between 77% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities. At March 31, 2024, the Company had designated hedges representing between 3% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities over the next 12 months.

The Company uses futures and OTC swaps to hedge the purchase price of anticipated volumes of natural gas consumption in a future month for certain of its facilities in North America and Europe, subject to certain program limits. During the past 12 months, the Company hedged between 39% and 80% of the anticipated monthly natural gas consumption at the designated facilities. At March 31, 2024, the Company had designated hedges representing between 34% and 70% of the anticipated monthly natural gas consumption over the next 12 months.

As of March 31, 2024 and December 31, 2023, the Company had after-tax losses of $9 million and after-tax gains of $42 million in AOCI, respectively, related to gains and losses from these programs.  The Company expects to recognize $9 million of the March 31, 2024 after-tax losses in its consolidated statement of earnings during the next 12 months.

Foreign Currency Contracts

The Company uses cross-currency swaps and foreign exchange forwards designated as net investment hedges to protect the Company’s investment in a foreign subsidiary against changes in foreign currency exchange rates. The Company executed USD-fixed to Euro-fixed cross-currency swaps with an aggregate notional amount of $0.8 billion as of March 31, 2024 and December 31, 2023, and foreign exchange forwards with an aggregate notional amount of $2.1 billion as of March 31, 2024 and December 31, 2023.

As of March 31, 2024 and December 31, 2023, the Company had after-tax gains of $46 million and after-tax losses of $5 million in AOCI, respectively, related to foreign exchange gains and losses from net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested.

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The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2024 and December 31, 2023.

			March 31, 2024												December 31, 2023
			Assets						Liabilities						Assets						Liabilities
			(In millions)
Commodity Contracts			$	11					$	—					$	16					$	—
Foreign Currency Contracts			42						—						—						22
Total			$	53					$	—					$	16					$	22

The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statements of earnings for the three months ended March 31, 2024 and 2023.

									Cost of products sold
(In millions)
Three Months Ended March 31, 2024
Consolidated Statement of Earnings									$	20,188
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts									$	19
Total gain (loss) recognized in earnings									$	19																													$	19
Three Months Ended March 31, 2023
Consolidated Statement of Earnings									$	21,992
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts									$	(104)
Total gain (loss) recognized in earnings									$	(104)																													$	(104)

Other Net Investment Hedging Strategies

The Company has designated €0.7 billion of its outstanding long-term debt and commercial paper borrowings at March 31, 2024 and December 31, 2023 as hedges of its net investment in a foreign subsidiary. As of March 31, 2024 and December 31, 2023, the Company had after-tax gains of $224 million and $212 million in AOCI, respectively, related to foreign exchange gains and losses from the net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested.

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

			March 31,						December 31,
			2024						2023
			(In millions)
Unrealized gains on derivative contracts			$	1,549					$	1,546
Margin deposits and grain accounts			585						560
Customer omnibus receivable			1,131						1,052
Financing receivables - net (1)			178						237
Insurance premiums receivable			48						61
Prepaid expenses			412						445
Biodiesel tax credit			77						119
Tax receivables			479						491
Non-trade receivables			376						304
Other current assets			148						167
			$	4,983					$	4,982

(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 $6 million at March 31, 2024 and December 31, 2023. Interest earned on financing receivables of $5 million and $6 million for the three months ended March 31, 2024 and 2023, respectively, is included in interest and investment income in the consolidated statements of earnings.

The following table sets forth the items in accrued expenses and other payables:

			March 31,						December 31,
			2024						2023
			(In millions)
Unrealized losses on derivative contracts			$	977					$	1,101
Accrued compensation			327						439
Income tax payable			312						284
Other taxes payable			196						172
Insurance claims payable			84						73
Contract liability			508						626
Other accruals and payables			1,518						1,381
			$	3,922					$	4,076

At March 31, 2024, the fair value of the Company’s long-term debt was below the carrying value by $0.3 billion, as estimated using quoted market prices (a Level 2 measurement under applicable accounting standards).

At March 31, 2024, the Company had lines of credit, including the accounts receivable securitization programs described below, totaling $12.8 billion, of which $8.8 billion was unused. Of the Company’s total lines of credit, $5.0 billion supported

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the combined U.S. and European commercial paper borrowing programs, against which there was $0.9 billion of commercial paper outstanding at March 31, 2024.

The Company’s effective tax rate was 18.8% for the three months ended March 31, 2024 compared to 16.1% for the three months ended March 31, 2023. The increase in the rate was primarily due to the change in the geographic mix of forecasted pretax earnings and the impact of discrete tax items.

The Organization for Economic Cooperation and Development’s Pillar Two initiative introduced a 15% global minimum tax applied on a country-by-country basis that has been enacted in certain jurisdictions in which the Company operates, with effective dates starting in fiscal year 2024. The Company is in scope of the enacted legislation and has performed an assessment of the potential exposure based on its most recent tax filings, country-by-country reporting, and the financial results of the constituent entities. Based on the assessment, the effective tax rates in most of the jurisdictions in which the Company operates are above the 15% global minimum tax threshold. However, there are a limited number of jurisdictions where the effective tax rate is close to 15%. ADM does not expect a material liability to global minimum tax in those jurisdictions.

The Company is subject to income taxation and routine examinations in many jurisdictions around the world and frequently faces challenges regarding the amount of taxes due.  These challenges include positions taken by the Company related to the timing, nature, and amount of deductions and the allocation of income among various tax jurisdictions.  In its routine evaluations of the exposure associated with various tax filing positions, the Company recognizes a liability, when necessary, for estimated potential tax owed by the Company in accordance with applicable accounting standards. Resolution of the related tax positions, through negotiations with relevant tax authorities or through litigation, may take years to complete. Therefore, it is difficult to predict the timing for resolution of tax positions and the Company cannot predict or provide assurance as to the ultimate outcome of these ongoing or future examinations. However, the Company does not anticipate the total amount of unrecognized tax benefits will increase or decrease significantly in the next twelve months. Given the long periods of time involved in resolving tax positions, the Company does not expect the recognition of unrecognized tax benefits will have a material impact on the Company’s effective income tax rate in any given period.

In 2014, the Company’s wholly-owned subsidiary in the Netherlands, ADM Europe B.V., received a tax assessment from the Netherlands tax authority challenging the transfer pricing aspects of a 2009 business reorganization, which involved two of its subsidiary companies in the Netherlands. As of March 31, 2024, this assessment was $88 million in tax and $34 million in interest (adjusted for variation in currency exchange rates). On April 23, 2020, the court issued an unfavorable ruling and in October 2020, assigned a third party expert to establish a valuation. During the second quarter of 2021, the third party expert issued a final valuation. On September 30, 2022, the court issued a ruling consistent with the valuation report, and the Dutch tax authorities have filed an appeal. During the quarter ended March 31, 2023, ADM filed a cross-appeal and is currently awaiting the court’s ruling. As of March 31, 2024, the Company has accrued its best estimate of what it believes will be the likely outcome of the litigation.

Accelerated Share Repurchase

On March 12, 2024, the Company entered into an accelerated share repurchase (“ASR”) transaction agreement (“ASR Agreement”) with Merrill Lynch International, an affiliate of BofA Securities, Inc., to repurchase $1.0 billion (the “Prepayment Amount”) of ADM common stock (“Common Stock”). The ASR transaction is part of ADM’s existing share repurchase program to repurchase up to 200 million shares through December 31, 2024.

Under the terms of the ASR Agreement, on March 13, 2024, the Company paid the Prepayment Amount and received no upfront shares of Common Stock. The total number of shares of Common Stock to be repurchased under the ASR Agreement will be based on volume weighted-average prices of the Common Stock during the term of the ASR transaction less a discount and subject to certain adjustments pursuant to the terms of the ASR Agreement. ADM will receive share deliveries at the end

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of each month commencing in March 2024, and upon final settlement of the ASR transaction, which is expected to occur no later than the end of the second quarter of 2024.

On March 28, 2024, the Company received an interim delivery of 8,880,986 shares at an average share price of $60.596 or $538 million. The Prepayment Amount initially recorded in additional paid in capital was partially reclassified to reinvested earnings for the $538 million amount repurchased.

As of March 31, 2024, the Company had 38.5 million remaining shares under its share repurchase program.

Accumulated Other Comprehensive Income

The following tables set forth the changes in AOCI by component for the three months ended March 31, 2024 and the reclassifications out of AOCI for the three months ended March 31, 2024 and 2023:

			Three months ended March 31, 2024
			Foreign Currency Translation Adjustment						Deferred Gain (Loss) on Hedging Activities						Pension Liability Adjustment						Unrealized Gain (Loss) on Investments						Total
			(In millions)
Balance at December 31, 2023			$	(2,539)					$	158					$	(108)					$	2					$	(2,487)
Other comprehensive income (loss) before reclassifications			(77)						(50)						(2)						(7)						(136)
Gain (loss) on net investment hedges			84						—						—						—						84
Amounts reclassified from AOCI			—						(19)						(2)						—						(21)
Tax effect			(20)						10						1						(1)						(10)
Net of tax amount			(13)						(59)						(3)						(8)						(83)
Balance at March 31, 2024			$	(2,552)					$	99					$	(111)					$	(6)					$	(2,570)

			Amount reclassified from AOCI
			Three months ended March 31,												Affected line item in the consolidated statements of earnings
Details about AOCI components			2024			2023
			(In millions)
Deferred loss (gain) on hedging activities
			(19)			104												Cost of products sold
			(19)			104												Total before tax
			4			(18)												Tax
			$	(15)		$	86											Net of tax
Pension liability adjustment
Amortization of defined benefit pension items:
Prior service loss (credit)			$	(5)		$	(11)											Other (income) expense-net
Actuarial losses			3			(20)												Other (income) expense-net
			(2)			(31)												Total before tax
			1			(12)												Tax
			$	(1)		$	(43)											Net of tax

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The Company’s accounting policy is to release the income tax effects from AOCI when the individual units of account are sold, terminated, or extinguished.

The following table sets forth the items in other (income) expense:

			Three Months Ended
			March 31,
			2024						2023
			(In millions)
Gains on sale of assets			$	(2)					$	(11)
Other – net			(24)						(33)
Other (Income) Expense – Net			$	(26)					$	(44)

Gains on sale of assets in the three months ended March 31, 2024 and 2023 consisted of gains on sales of certain assets and disposals of individually insignificant assets in the ordinary course of business.

The Company’s operations are organized, managed, and classified into three reportable business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. Each of these segments is organized based upon the nature of products and services offered. The Company’s remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Other Business.

Intersegment sales have been recorded using principles consistent with ASC 606, Revenue from Contracts with Customers. Operating profit for each segment is based on net sales less identifiable operating expenses. Also included in operating profit for each segment is equity in earnings of affiliates based on the equity method of accounting. Specified items and certain corporate items are not allocated to the Company’s individual business segments because operating performance of each business segment is evaluated by management exclusive of these items. Corporate results principally include unallocated corporate expenses, interest cost net of interest income, and revaluation gains and losses on cost method investments and the share of the results of equity investments in early-stage start-up companies.

Restatement of Certain Segment-Specific Historical Financial Information

As described in Note 1 to the Consolidated Financial Statements, the Company has restated its Consolidated Financial Statements as of March 31, 2024 and 2023 and for the quarters ended March 31, 2024 and 2023. As a result, the previously reported financial information as of March 31, 2024 and 2023 and for the quarters ended March 31, 2024 and 2023 in this Note 13. Segment Information, has been updated to reflect the restatements.

The following tables set forth the impact of the restatements on intersegment sales and segment operating profit for each of the Company’s three reportable segments for the three months ended March 31, 2024 and 2023.

Intersegment pricing adjustments include restatements related to intersegment sales that were not in accordance with prior disclosures about presenting such sales at amounts approximating market. Intersegment classification adjustments include restatements related to intrasegment sales (resulting from sales within the segment) previously misclassified and reported as intersegment sales (resulting from sales from one segment to another). Intersegment pricing adjustments and Intersegment classification adjustments are included within the Intersegment sales amounts and segment operating profit amounts previously reported by the Company in the Form 10-Q filed with the SEC on April 30, 2024.

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In the course of testing new controls implemented as part of the Company’s material weakness remediation plan in the third quarter of 2024, ADM identified additional intrasegment sales previously misclassified and reported as intersegment sales. The Company also identified some intersegment sales that were not accounted for consistently in accordance with revenue recognition and segment reporting standards and should not have been reported as intersegment sales. These amounts are presented in the table below as Additional intersegment classification adjustments. The Company also is correcting certain segment disclosure presentation errors in this Form 10-Q/A. See Note 1 for further information.

Impact of the Restatement on the Ag Services and Oilseeds Segment

			Three Months Ended
			March 31,
(In millions)			2024 (Restated)			2023 (Restated)
Intersegment revenues, as originally reported			$	609		$	1,335
Intersegment pricing adjustments			—			1
Intersegment classification adjustments			—			(595)
Intersegment revenues, as previously reported			609			741
Additional intersegment classification adjustments			(183)			(211)
Intersegment revenues, as restated			$	426		$	530
Segment operating profit, as originally reported			$	864		$	1,210
Intersegment pricing adjustments			—			1
Segment operating profit, as restated			$	864		$	1,211

Impact of the Restatement on the Carbohydrate Solutions Segment

			Three Months Ended
			March 31,
(In millions)			2024 (Restated)			2023 (Restated)
Intersegment revenues, as originally reported			$	279		$	729
Intersegment pricing adjustments			—			6
Intersegment classification adjustments			—			(230)
Intersegment revenues, as previously reported			279			505
Additional intersegment classification adjustments			(71)			(235)
Intersegment revenues, as restated			$	208		$	270
Segment operating profit, as originally reported			$	248		$	273
Intersegment pricing adjustments			—			6
Segment operating profit, as restated			$	248		$	279

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Impact of the Restatement on the Nutrition Segment

			Three Months Ended
			March 31,
(In millions)			2024 (Restated)			2023 (Restated)
Intersegment revenues, as originally reported			$	6		$	91
Intersegment pricing adjustments			—			—
Intersegment classification adjustments			—			(55)
Intersegment revenues, as previously reported			6			36
Additional intersegment classification adjustments			7			(24)
Intersegment revenues, as restated			$	13		$	12
Segment operating profit, as originally reported			$	84		$	145
Intersegment pricing adjustments			—			(7)
Segment operating profit, as restated			$	84		$	138

For more information about the Company’s business segments, refer to Note 17 of “Notes to Consolidated Financial Statements” included in Item 8, “Financial Statements and Supplementary Data” included in the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2023.

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Segment Information for the Three Months ended March 31, 2024 and 2023
			Three Months Ended
			March 31,
(In millions)			2024						2023
Revenues from external customers
Ag Services and Oilseeds
Ag Services			$	11,197					$	11,695
Crushing			3,327						3,683
Refined Products and Other			2,695						3,201
Total Ag Services and Oilseeds			17,219						18,579
Carbohydrate Solutions
Starches and Sweeteners			2,156						2,737
Vantage Corn Processors			527						800
Total Carbohydrate Solutions			2,683						3,537
Nutrition
Human Nutrition			964						936
Animal Nutrition			872						917
Total Nutrition			1,836						1,853
Total segment revenues from external customers			21,738						23,969
Other Business			109						103
Total revenues from external customers			$	21,847					$	24,072
Intersegment revenues, as restated
Ag Services and Oilseeds			$	426					$	530
Carbohydrate Solutions			208						270
Nutrition			13						12
Total intersegment revenues, as restated			$	647					$	812
Segment operating profit, as restated
Ag Services and Oilseeds			$	864					$	1,211
Carbohydrate Solutions			248						279
Nutrition			84						138
Total segment operating profit, as restated			1,196						1,628
Other Business earnings (loss)			121						97
Corporate			(426)						(322)
Specified items:
Gains on sale of assets(1)			—						1
Impairment and restructuring charges(2)			(6)						(7)
Earnings before income taxes			$	885					$	1,397

(1) Prior quarter gains were related to the sale of certain assets.

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Asset impairment, exit, and restructuring costs in the three months ended March 31, 2024 consisted of impairments related to certain long-lived assets of $3 million and restructuring charges of $3 million, presented as specified items, and restructuring charges in Corporate of $12 million.

Asset impairment, exit, and restructuring costs in the three months ended March 31, 2023 consisted of $3 million of impairments related to certain long-lived assets and $4 million of restructuring charges, presented as specified items.

The Company has an accounts receivable securitization program (the “First Program”) with certain commercial paper conduit purchasers and committed purchasers (collectively, the “First Purchasers”).  Under the First Program, certain U.S.-originated trade accounts receivable are sold to a wholly-owned bankruptcy-remote entity, ADM Receivables, LLC (“ADM Receivables”). ADM Receivables transfers certain of the purchased accounts receivable to each of the First Purchasers together with a security interest in all of its right, title, and interest in the remaining purchased accounts receivable. In exchange, ADM Receivables receives a cash payment of up to $1.9 billion for the accounts receivable transferred. The First Program terminates on May 17, 2024, unless extended.

The Company also has an accounts receivable securitization program (the “Second Program”) with certain commercial paper conduit purchasers and committed purchasers (collectively, the “Second Purchasers”). Under the Second Program, certain non-U.S.-originated trade accounts receivable are sold to a wholly-owned bankruptcy-remote entity, ADM Ireland Receivables Company (ADM Ireland Receivables). ADM Ireland Receivables transfers certain of the purchased accounts receivable to each of the Second Purchasers together with a security interest in all of its right, title, and interest in the remaining purchased accounts receivable. In exchange, ADM Ireland Receivables receives a cash payment of up to $1.1 billion (€1.0 billion) for the accounts receivables transferred. The Second Program terminates on April 18, 2025, unless extended.

Under the First and Second Programs (collectively, the “Programs”), ADM Receivables and ADM Ireland Receivables use the cash proceeds from the transfer of receivables to the First Purchasers and Second Purchasers (collectively, the “Purchasers”) and other consideration, as applicable, to finance the purchase of receivables from the Company and the ADM subsidiaries originating the receivables. The Company accounts for these transfers as sales. The Company acts as a servicer for the transferred receivables. At March 31, 2024 and December 31, 2023, the Company did not record a servicing asset or liability related to its retained responsibility, based on its assessment of the servicing fee, market values for similar transactions, and its cost of servicing the receivables sold.

As of March 31, 2024 and December 31, 2023, the fair value of trade receivables transferred to the Purchasers under the Programs and derecognized from the Company’s consolidated balance sheets was $2.3 billion and $1.6 billion, respectively. Total receivables sold were $12.3 billion and $15.1 billion for the three months ended March 31, 2024 and 2023, respectively. Cash collections from customers on receivables sold were $11.8 billion and $14.8 billion for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024 and December 31, 2023, receivables pledged as collateral to the Purchasers was $0.7 billion and $1.1 billion, respectively.

Transfers of receivables under the Programs resulted in an expense for the loss on sale of $27 million and $23 million for the three months ended March 31, 2024 and 2023, respectively, which is classified as selling, general, and administrative expenses in the consolidated statements of earnings.

All cash flows under the Programs are classified as operating activities because the cash received from the Purchasers upon both the sale and collection of the receivables is not subject to significant interest rate risk given the short-term nature of the Company’s trade receivables.

---

ADM has Supplier Payable Programs (“SPP”) with financial institutions which act as its paying agents for payables due to certain of its suppliers. The Company has neither an economic interest in a supplier’s participation in the SPP nor a direct financial relationship with the financial institutions, and has concluded that its obligations to the suppliers, including amounts due and scheduled payment terms, are not impacted by their participation in the SPP. Accordingly, amounts associated with the SPP continue to be classified in trade payables in the Company’s consolidated balance sheet and in operating activities in its consolidated statement of cash flows. The supplier invoices that have been confirmed as valid under the program require payment in full generally within 90 days of the invoice date. As of March 31, 2024 and December 31, 2023, the Company’s outstanding payment obligations that suppliers had elected to sell to the financial institutions were $275 million and $274 million, respectively.

Changes to the outstanding payment obligations are as follows:

			March 31, 2024
			(In millions)
Beginning, January 1, 2024			$	274
Obligations confirmed			257
Obligations paid			(256)
Ending, March 31, 2024			$	275

The Company is routinely involved in a number of actual or threatened legal actions, including those involving alleged personal injuries, employment law, product liability, intellectual property, environmental issues, alleged tax liability (see Note 10 for information on income tax matters), and class actions. The Company also routinely receives inquiries from regulators and other government authorities relating to various aspects of its business, and at any given time, the Company has matters at various stages of resolution. The outcomes of these matters are not within Company’s complete control and may not be known for prolonged periods of time. In some actions, claimants seek damages, as well as other relief including injunctive relief, that could require significant expenditures or result in lost revenues. In accordance with applicable accounting standards, the Company records a liability in its consolidated financial statements for material loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a material loss contingency is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed in the notes to the consolidated financial statements. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. Estimates of probable losses resulting from litigation and governmental proceedings involving the Company are inherently difficult to predict, particularly when the matters are in early procedural stages, with incomplete facts or legal discovery; involve unsubstantiated or indeterminate claims for damages; potentially involve penalties, fines, disgorgement, or punitive damages; or could result in a change in business practice.

Commodities Class Actions

On September 4, 2019, AOT Holding AG (“AOT”) filed a putative class action under the U.S. Commodities Exchange Act in federal district court in Urbana, Illinois, alleging that the Company sought to manipulate the benchmark price used to price and settle ethanol derivatives traded on futures exchanges. On March 16, 2021, AOT filed an amended complaint adding a second named plaintiff Maize Capital Group, LLC (“Maize”). AOT and Maize allege that members of the putative class collectively suffered damages calculated to be between approximately $500 million to over $2.0 billion as a result of the Company’s alleged actions. On July 14, 2020, Green Plains Inc. and its related entities (“GP”) filed a putative class action lawsuit, alleging substantially the same operative facts, in federal court in Nebraska, seeking to represent sellers of ethanol. On July 23, 2020, Midwest Renewable Energy, LLC (“MRE”) filed a putative class action in federal court in Illinois alleging substantially the same operative facts and asserting claims under the Sherman Act. On November 11, 2020, United Wisconsin Grain Producers

---

LLC (“UWGP”) and five other ethanol producers filed a lawsuit in federal court in Illinois alleging substantially the same facts and asserting claims under the Sherman Act and Illinois, Iowa, and Wisconsin law. The court granted ADM’s motion to dismiss the MRE and UWGP complaints without prejudice on August 9, 2021 and September 28, 2021, respectively. On August 16, 2021, the court granted ADM’s motion to dismiss the GP complaint, dismissing one claim with prejudice and declining jurisdiction over the remaining state law claim. MRE filed an amended complaint on August 30, 2021, which ADM moved to dismiss on September 27, 2021. The court denied ADM’s motion to dismiss on September 26, 2023. UWGP filed an amended complaint on October 19, 2021, which the court dismissed on July 12, 2022. UWGP has appealed the dismissal to the United States Court of Appeals for the Seventh Circuit. On October 26, 2021, GP filed a new complaint in Nebraska federal district court, alleging substantially the same facts and asserting a claim for tortious interference with contractual relations. On March 18, 2022, the Nebraska federal district court granted ADM’s motion to transfer the GP case back to the Central District of Illinois for further proceedings. ADM moved to dismiss the complaint on May 20, 2022 and on December 30, 2022, the court dismissed GP’s complaint with prejudice. GP appealed the dismissal. On January 12, 2024, the appellate court vacated the dismissal and remanded the case to the district court for further proceedings. On March 8, 2024, GP filed an amended complaint. The Company denies liability, and is vigorously defending itself in these actions. As these actions are in pretrial proceedings, the Company is unable at this time to predict the final outcome with any reasonable degree of certainty, but believes the outcome will not have a material adverse effect on its financial condition, results of operations, or cash flows.

Intersegment Sales Investigations

On June 30, 2023, the Company received a voluntary document request from the SEC relating to intersegment sales between the Company’s Nutrition reporting segment and the Company’s Ag Services and Oilseeds and Carbohydrate Solutions reporting segments, and subsequently received an additional document request from the SEC. The Company is cooperating with the SEC. Following the Company’s January 21, 2024 announcement of the Investigation, the Company received document requests from the Department of Justice (“DOJ”) focused primarily on the same subject matter, and the DOJ directed grand jury subpoenas to certain current and former Company employees. The Company is cooperating with the DOJ. The Company is unable to predict the final outcome of these investigations with any reasonable degree of certainty.

Securities Litigation

On January 24, 2024, following the Company’s January 21, 2024 announcement of the investigation relating to intersegment sales, a purported stockholder of the Company filed a putative class action in the U.S. District Court for the Northern District of Illinois against the Company and its Chief Executive Officer, as well as Vikram Luthar and Ray Young. The plaintiff alleges false and misleading statements in the Company’s disclosures and seeks unspecified compensatory and punitive damages. On March 29, 2024 and April 12, 2024, purported stockholders of the Company filed derivative lawsuits in the U.S. District Court for the Northern District of Illinois against the Chief Executive Officer, Vikram Luthar, Ray Young, and certain individual ADM Directors, alleging false and misleading statements in the Company’s proxy statements, breach of fiduciary duty, and corporate waste, among other claims, and seeking unspecified damages. On April 23, 2024, a purported stockholder of the Company filed a derivative lawsuit in the U.S. District Court for the District of Delaware against the Chief Executive Officer, Vikram Luthar, Ray Young, and certain individual ADM Directors, asserting claims for breach of fiduciary duty and contribution and indemnification under the Securities Exchange Act and seeking unspecified damages. The Company is unable to predict the final outcome of these proceedings with any reasonable degree of certainty.

On April 15, 2024, the Company received a final delivery of 7,325,733 shares at an average share price of $63.065 or $462 million as final settlement of the ASR transaction (see Note 11 for more information).

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None of the Company’s directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted, modified or terminated any contract, instruction, or written plan for the purchase or sale of ADM’s securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act or any non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the quarter ended March 31, 2024.

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v3.24.3

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 29, 2024
Class of Stock [Line Items]
Entity Central Index Key	0000007084
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	true
Document Type	10-Q/A
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-44
Entity Registrant Name	ARCHER-DANIELS-MIDLAND CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0129150
Entity Address, Address Line One	77 West Wacker Drive, Suite 4600
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	312
Local Phone Number	634-8100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		494,437,789
Amendment Description	Explanatory NoteArcher-Daniels-Midland Company (the “Company”) is filing this Amendment No. 1 on Form 10-Q/A (this “Amendment”) to its Quarterly Report on Form 10‑Q for the quarter ended March 31, 2024, which was originally filed with the United States Securities and Exchange Commission (“SEC”) on April 30, 2024 (the “Form 10‑Q”). In filing this Amendment, the Company is restating its previously issued unaudited consolidated financial statements as of March 31, 2024 and 2023 and for the quarters ended March 31, 2024 and 2023 (collectively, the “Affected Periods”) for the correction of certain segment-specific historical financial information as further described below.In addition, the Company filed an amendment to its Annual Report on Form 10-K for the year ended December 31, 2023 and intends to file an amendment to its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, originally filed with the SEC on March 12, 2024 and July 30, 2024, respectively (such reports, together with this Amendment, the “Amended Reports”). All material restatement information will be included in the Amended Reports, and the Company does not intend to separately amend other filings that were previously filed with the SEC.Accordingly, investors and other readers should rely only on the financial information and other disclosures regarding the periods described above in this Amendment and in any other future filings with the SEC (as applicable) and should not rely on any previously issued or filed reports, press releases, corporate presentations or similar communications relating to the Affected Periods.Background of CorrectionFollowing ongoing dialogue with the staff of the SEC, the Company concluded that it would amend the 2023 Form 10-K and Form 10-Qs for the first and second quarters of 2024 (collectively, the “Q1 and Q2 2024 Form 10-Qs”) to restate the segment information disclosure included in those filings. These restatements do not impact ADM’s Consolidated Statements of Earnings, Consolidated Statements of Comprehensive Income (Loss), Consolidated Balance Sheets, Consolidated Statements of Cash Flows or Consolidated Statements of Shareholders’ Equity as of and for the periods presented in the Amended Reports.As previously disclosed in Note 13. Segment Information, to the Company’s unaudited Consolidated Financial Statements included in the Form 10-Q, the Company identified and corrected certain intersegment sales amounts that either (i) were not in accordance with prior disclosures about presenting such sales at amounts approximating market or (ii) included intrasegment sales (resulting from sales within the segment) and should have included exclusively intersegment sales (resulting from sales from one segment to another). In connection with the error corrections, the Company identified a material weakness in its internal control over financial reporting related to its accounting practices and procedures for intersegment sales. The Company put in place a plan to remediate this material weakness, as disclosed in the 2023 Form 10-K and Q1 and Q2 2024 Form 10-Qs.In the course of testing new controls implemented as part of the Company’s material weakness remediation plan in the third quarter of 2024, the Company identified additional misclassified intersegment transactions. These newly identified errors concern additional intersegment sales for each of its Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition segments that included certain intrasegment sales and should have included exclusively intersegment sales. The Company also identified some intersegment transactions between Ag Services and Oilseeds and Carbohydrate Solutions that were not accounted for consistently in accordance with revenue recognition and segment reporting standards and should not have been reported as intersegment sales. The Company also is correcting certain segment disclosure presentation errors in the Amended Reports.This Amendment reflects corrections for the newly identified errors related to intersegment sales (described below), the previously-corrected errors related to intersegment sales and segment operating profit, and other segment disclosure corrections (See Note 1 to the Consolidated Financial Statements in this Amendment for further information).Restatement of Consolidated Financial StatementsThis Amendment includes unaudited restated Consolidated Financial Statements for the Affected Periods. See Note 13 to the Consolidated Financial Statements in this Amendment for the restated unaudited segment information as of March 31, 2024 and 2023 for the quarters ended March 31, 2024 and 2023.Items Amended in This FilingThis Amendment amends and restates the following items of the Form 10-Q:•Part I - Item 1. Financial Statements•Part I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations•Part I - Item 4. Controls and Procedures•Part II - Item 1A. Risk Factors•Part II - Item 6. Exhibits The exhibit list included in Item 6, “Exhibits” herein has been amended to contain currently dated certifications from the Company’s Chief Executive Officer (as Principal Executive Officer) and Chief Financial Officer (as Principal Financial Officer), as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 and filed as Exhibits 31.1/31.2 and 32.1/32.2, respectively.In accordance with applicable SEC rules, this Form 10-Q/A also includes an updated signature page. Please note that the only changes to the Form 10-Q are those related to the matters described herein and only in the Items listed above. Otherwise, this Amendment speaks as of the original filing date of the Form 10-Q, and does not modify, amend or update any other item or disclosures in the Form 10-Q. As such, this Amendment does not reflect events occurring after the filing of the Form 10-Q or modify or update those disclosures affected by subsequent events. Such subsequent information or events include, among others, the information and events described in our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024, which we are restating currently with this Amendment, and the information and events described in our Current Reports on Form 8-K filed subsequent to the date of the Form 10-Q. For a description of such subsequent information and events, please read our reports filed pursuant to the Exchange Act subsequent to the date of the Form 10-Q, which update and supersede certain information contained in the Form 10-Q and this Amendment.
Debt Securities [Member]
Class of Stock [Line Items]
Title of 12(b) Security	1.000% Notes due 2025
Security Exchange Name	NYSE
No Trading Symbol Flag	true
Common Stock [Member]
Class of Stock [Line Items]
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	ADM
Security Exchange Name	NYSE

v3.24.3

Consolidated Statements Of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues	$ 21,847	$ 24,072
Cost of Products Sold	20,188	21,992
Gross Profit	1,659	2,080
Selling, general, and administrative expenses	951	881
Asset impairment, exit, and restructuring costs	18	7
Interest Expense	166	147
Equity in (earnings) losses of unconsolidated affiliates	(212)	(174)
Interest and investment income	(123)	(134)
Other (Income) Expense - Net	(26)	(44)
Earnings Before Income Taxes	885	1,397
Income taxes	166	225
Net earnings including noncontrolling interests	719	1,172
Net Income (Loss) Attributable to Noncontrolling Interest	(10)	2
Net Earnings Attributable to Controlling Interests	$ 729	$ 1,170
Average number of shares outstanding - basic	513	550
Average number of shares outstanding - diluted	514	551
Earnings Per Share, Basic	$ 1.42	$ 2.13
Earnings Per Share, Diluted	1.42	2.12
Dividends per common share	$ 0.50	$ 0.45

v3.24.3

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net earnings including noncontrolling interests	$ 719	$ 1,172
Other Comprehensive Income (Loss), before Tax
Foreign currency translation adjustment, before tax	4	153
Pension and other postretirement benefit liabilities adjustment, before tax	(4)	(26)
Unrealized gain (loss) on investments, before tax	(7)	4
Other Comprehensive Income (Loss), Tax
Foreign currency translation adjustment, tax effect	(20)	14
Pension and other postretirement benefit liabilities adjustment, tax effect	1	(13)
Unrealized gain (loss) on investments, tax effect	(1)	(1)
Other Comprehensive Income (Loss), Net of Tax
Foreign currency translation adjustment, net of tax	(16)	167
Pension and other postretirement benefit liabilities adjustment, net of tax	(3)	(39)
Other Comprehensive Income (Loss), Cash Flow Hedge And Net Investment Hedge, Gain (Loss), Before Reclassification, Before Tax	(69)	(104)
Other Comprehensive Income (Loss), Cash Flow Hedge And Net Investment Hedge, Gain (Loss), After Reclassification Adjustment, Tax	10	16
Other Comprehensive Income (Loss), Cash Flow Hedge And Net Investment Hedge, Gain (Loss), After Reclassification Adjustment, After Tax	(59)	(88)
Unrealized gain (loss) on investments, net of tax	(8)	3
Other comprehensive income (loss)	(86)	43
Comprehensive income (loss) including noncontrolling interests	633	1,215
Less: Comprehensive income (loss) attributable to noncontrolling interests	(13)	(1)
Comprehensive income (loss) attributable to controlling interests	$ 646	$ 1,216

v3.24.3

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 830	$ 1,368
Segregated cash and investments	7,381	7,228
Trade receivables	4,178	4,232
Inventories	11,634	11,957
Other current assets	4,983	4,982
Total Current Assets	29,006	29,767
Investments and Other Assets
Investments in and advances to affiliates	5,566	5,500
Goodwill and other intangible assets	7,051	6,341
Operating Lease, Right-of-Use Asset	1,285	1,211
Other assets	1,327	1,304
Total Investments and Other Assets	15,229	14,356
Property, Plant, and Equipment
Land and Land Improvements	573	573
Buildings	5,940	5,876
Machinery and equipment	20,298	20,223
Construction in progress	1,421	1,360
Gross Property, Plant, and Equipment	28,232	28,032
Accumulated depreciation	(17,636)	(17,524)
Net Property, Plant, and Equipment	10,596	10,508
Total Assets	54,831	54,631
Current Liabilities
Short-term debt	1,734	105
Trade payables	5,599	6,313
Payables to Brokerage Customers	8,176	7,867
Accrued expenses and other payables	3,922	4,076
Operating Lease, Liability, Current	298	300
Current maturities of long-term debt	1	1
Total Current Liabilities	19,730	18,662
Long-Term Liabilities
Long-term debt	8,245	8,259
Deferred income taxes	1,291	1,309
Operating Lease, Liability, Noncurrent	1,010	931
Other	1,016	1,005
Total Long-Term Liabilities	11,562	11,504
Redeemable Noncontrolling Interest, Equity, Carrying Amount	307	320
Shareholders' Equity
Common stock	2,720	3,154
Reinvested earnings	23,069	23,465
Accumulated other comprehensive income (loss)	(2,570)	(2,487)
Noncontrolling interests	13	13
Total Shareholders' Equity	23,232	24,145
Total Liabilities and Shareholders' Equity	$ 54,831	$ 54,631

v3.24.3

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating Activities
Net earnings including noncontrolling interests	$ 719	$ 1,172
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities
Depreciation and amortization	280	259
Asset impairment charges	3	3
Deferred income taxes	(64)	47
Equity in earnings of affiliates, net of dividends	(136)	(113)
Stock compensation expense	66	65
Deferred cash flow hedges	(69)	(104)
(Gain) Loss on Disposition of Assets	14	(11)
Other - net	69	(8)
Increase (Decrease) of Restricted Investments	(159)	(935)
Changes in operating assets and liabilities, net of businesses acquired
Trade receivables	61	488
Inventories	295	52
Other current assets	163	328
Trade payables	(713)	(1,556)
Increase (Decrease) in Payables to Brokerage Customers	319	(460)
Accrued expenses and other payables	(148)	(837)
Total Operating Activities	700	(1,610)
Investing Activities
Purchases of property, plant, and equipment	(328)	(327)
Proceeds from sale of business and assets	6	13
Net assets of businesses acquired	(915)	0
Payments to Acquire Interest in Subsidiaries and Affiliates	(4)	(4)
Other - net	11	(10)
Total Investing Activities	(1,230)	(328)
Financing Activities
Long-term debt payments	0	(2)
Net borrowings (payments) under lines of credit agreements	1,619	1,306
Purchases of treasury stock	(1,327)	(351)
Cash dividends	(257)	(248)
Other - net	(37)	(107)
Total Financing Activities	(2)	598
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	(13)	(6)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(545)	(1,346)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning	5,390	7,033
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending	4,845	5,687
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents [Abstract]
Cash and cash equivalents	830	899
Restricted Cash and Cash Equivalents	$ 4,015	$ 4,788

v3.24.3

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interests [Member]
Balance (shares) at Dec. 31, 2022		547
Balance at Dec. 31, 2022	$ 24,317	$ 3,147	$ 23,646	$ (2,509)	$ 33
Comprehensive income
Net earnings including noncontrolling interests	1,172		1,170		2
Other comprehensive income (loss)	43			46	(3)
Total comprehensive income	$ 1,215
Common Stock, Dividends, Per Share, Cash Paid	$ 0.45
Cash dividends paid	$ (248)		(248)
Stock Repurchased During Period, Value	(351)		(351)
Stock Repurchased During Period, Shares		(4)
Stock compensation expense, shares		3
Stock compensation expense	65	$ 65
Stock option exercises net of taxes, value	(108)	$ (108)
Stock option exercises net of taxes, shares		(1)
Other, shares		0
Other	6	$ 2	0	0	4
Balance (shares) at Mar. 31, 2023		546
Balance at Mar. 31, 2023	24,896	$ 3,106	24,217	(2,463)	36
Balance (shares) at Dec. 31, 2023		513
Balance at Dec. 31, 2023	24,145	$ 3,154	23,465	(2,487)	13
Comprehensive income
Net earnings including noncontrolling interests	719		729		(10)
Other comprehensive income (loss)	(86)			(83)	(3)
Total comprehensive income	$ 633
Common Stock, Dividends, Per Share, Cash Paid	$ 0.50
Cash dividends paid	$ (257)		(257)
Stock Repurchased During Period, Value	(868)		(868)
Stock Repurchased During Period, Shares		(13)
Adjustments to Additional Paid in Capital, Other	(462)	$ (462)
Stock compensation expense, shares		3
Stock compensation expense	66	$ 66
Stock option exercises net of taxes, value	(41)	$ (41)
Stock option exercises net of taxes, shares		(1)
Other, shares		0
Other	16	$ 3	0	0	13
Balance (shares) at Mar. 31, 2024		502
Balance at Mar. 31, 2024	$ 23,232	$ 2,720	$ 23,069	$ (2,570)	$ 13

v3.24.3

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends paid, per share	$ 0.50	$ 0.45

v3.24.3

Basis of Presentation and Restatement of Previously Filed Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Restatement of Previously Filed Consolidated Financial Statements	Basis of Presentation and Restatement of Previously Filed Consolidated Financial Statements The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024.  For further information, refer to the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K/A for the year ended December 31, 2023 for Archer-Daniels-Midland Company (the Company or ADM). Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries.  All significant intercompany accounts and transactions have been eliminated.  The Company consolidates all entities, including variable interest entities (VIEs), in which it has a controlling financial interest. For VIEs, the Company assesses whether it is the primary beneficiary as defined under the applicable accounting standard. Investments in affiliates, including VIEs through which the Company exercises significant influence but does not control the investee and is not the primary beneficiary of the investee’s activities, are carried at cost plus equity in undistributed earnings since acquisition and are adjusted, where appropriate, for basis differences between the investment balance and the underlying net assets of the investee and impairments determined to be other than temporary in nature.  The Company’s portion of the results of certain affiliates and results of certain VIEs are included using the most recent available financial statements.  In each case, the financial statements are within 93 days of the Company’s year end and are consistent from period to period. Restatement of Previously Filed Financial Statements Following ongoing dialogue with the staff of the United States Securities and Exchange Commission, the Company concluded that it would amend its fiscal year 2023 Form 10-K (the “FY2023 Form 10-K”) and Forms 10-Q for the first and second quarters of 2024 (collectively, the “Q1 and Q2 2024 Form 10-Qs”) to restate the segment information disclosure included in those filings. These restatements do not impact ADM’s Consolidated Statements of Earnings, Consolidated Statements of Comprehensive Income (Loss), Consolidated Balance Sheets, Consolidated Statements of Cash Flows or Consolidated Statements of Shareholders’ Equity as of and for the periods presented in the Amended Reports. As previously disclosed in Note 13. Segment Information, to ADM’s consolidated financial statements included in the Form 10-Q for the quarter ended March 31, 2024, ADM identified and corrected certain intersegment sales amounts that either (i) were not in accordance with prior disclosures about presenting such sales at amounts approximating market or (ii) included intrasegment sales (resulting from sales within the segment) and should have included exclusively intersegment sales (resulting from sales from one segment to another). In connection with the error corrections, ADM identified a material weakness in its internal control over financial reporting related to its accounting practices and procedures for intersegment sales. The Company put in place a plan to remediate this material weakness, as disclosed in the FY2023 Form 10-K and Q1 and Q2 2024 Form 10-Qs. In the course of testing new controls implemented as part of the Company’s material weakness remediation plan in the third quarter of 2024, ADM identified additional intrasegment sales previously misclassified and reported as intersegment sales. These newly identified errors concern intersegment sales for each of its Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition segments that included certain additional intrasegment sales and should have included exclusively intersegment sales. The Company also identified some intersegment sales between Ag Services and Oilseeds and Carbohydrate Solutions that were not accounted for consistently in accordance with revenue recognition and segment reporting standards and should not have been reported as intersegment sales. The Company also is correcting certain segment disclosure presentation errors. In this Amendment, the Company is revising its reconciliation and calculation of total segment operating profit. The revised reconciliation in Note 13. Segment Information presents a subtotal for total segment operating profit that is equal to the sum of the segment operating profit reported for each of the Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition segments. Amounts for other business and specified items, which previously were reflected in the calculation of total segment operating profit, are now reflected as reconciling items, similar to Corporate, between total segment operating profit and earnings before income taxes. The Company has restated its Consolidated Financial Statements for the quarters ended March 31, 2024 and 2023 in Note 13, Segment Information (Unaudited). Segregated Cash and Investments The Company segregates certain cash, cash equivalents, and investment balances in accordance with regulatory requirements, commodity exchange requirements, and insurance arrangements. These balances represent deposits received from customers of the Company’s registered futures commission merchant and commodity brokerage services, cash margins and securities pledged to commodity exchange clearinghouses, and cash pledged as security under certain insurance arrangements. Segregated cash and investments also include restricted cash collateral for the various insurance programs of the Company’s captive insurance business. To the degree these segregated balances are comprised of cash and cash equivalents, they are considered restricted cash and cash equivalents on the consolidated statements of cash flows. Receivables The Company records receivables at net realizable value in trade receivables, other current assets, and other assets.  These amounts include allowances for estimated uncollectible accounts to reflect any loss anticipated on the accounts receivable balances including any accrued interest thereon. The Company estimates uncollectible accounts by pooling receivables according to type, region, credit risk rating, and age. Each pool is assigned an expected loss co-efficient to arrive at a general reserve based on historical write-offs adjusted, as needed, for regional, economic, and other forward-looking factors. The Company minimizes credit risk due to the large and diversified nature of its worldwide customer base. ADM manages its exposure to counter-party credit risk through credit analysis and approvals, credit limits, and monitoring procedures. Long-term receivables recorded in other assets were not material to the Company’s overall receivables portfolio. Changes to the allowance for estimated uncollectible accounts are as follows: March 31, 2024 March 31, 2023 (In millions) Beginning, January 1 $ 215  $ 199  Current year provisions 5  4 Recoveries 8  1  Write-offs against allowance (13) (24) Foreign exchange translation adjustment 1  1  Other —  1  Ending, March 31 $ 216  $ 182  Write-offs against allowance in the three months ended March 31, 2024 were primarily related to long-term receivables. Write-offs against allowance in the three months ended March 31, 2023 were primarily related to allowance on receivables that were subsequently sold. Inventories Certain merchandisable agricultural commodity inventories, which include inventories acquired under deferred pricing contracts, are stated at market value.  In addition, the Company values certain inventories using the first-in, first-out (FIFO) method at the lower of cost or net realizable value. The following table sets forth the Company’s inventories as of March 31, 2024 and December 31, 2023. March 31, 2024 December 31, 2023   (In millions) Raw materials and supplies $ 1,880  $ 1,944  Finished goods 3,047  3,026  Market inventories 6,707  6,987  Total inventories $ 11,634  $ 11,957  Included in raw materials and supplies are work in process inventories which were not material as of March 31, 2024 and December 31, 2023. Cost Method Investments Cost method investments of $421 million and $438 million as of March 31, 2024 and December 31, 2023, respectively, were included in Other Assets in the Company’s consolidated balance sheets. Revaluation loss of $18 million in the three months ended March 31, 2024 was related to an investment in alternative protein and precision fermentation, partially offset by an upward adjustment of $2 million. There were no revaluation gains or losses in the three months ended March 31, 2023. Revaluation gains and losses are recorded in interest and investment income in the Company’s consolidated statements of earnings. As of March 31, 2024, the cumulative amounts of upward and downward adjustments were $115 million and $94 million, respectively.

v3.24.3

New Accounting Standards	3 Months Ended
	Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Update and Change in Accounting Principle [Text Block]	New Accounting Standards Through December 31, 2024, the Company has the option to adopt the amended guidance of Accounting Standards Codification (ASC) 848, Reference Rate Reform, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amended guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2024, except for hedging relationships existing as of December 31, 2024, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. Through March 31, 2024, ADM has completed the transition of its financing, funding, and hedging portfolios from LIBOR to alternative reference rates. The transition did not have an impact on the Company’s consolidated financial statements. Effective December 31, 2024, the Company will be required to adopt the amended guidance of ASC 280, Segment Reporting, which improves disclosures about a public entity’s reportable segments and addresses requests from investors and other allocators of capital for more detailed information about a reportable segment’s expenses. The amended guidance improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses and permits entities to disclose more than one measure of a reportable segment’s profitability used by the Chief Operating Decision Maker. The adoption of the amended guidance will result in expanded disclosures in the Company’s segment and geographic information footnote but will not have an impact on the consolidated financial statements. Effective December 31, 2025, the Company will be required to adopt the amended guidance of ASC 740, Income Taxes, which enhances the transparency and decision usefulness of income tax disclosures. The amendments address investor requests for more transparency about income tax information. The adoption of the amended guidance will result in expanded disclosures in the Company’s income taxes footnote but will not have an impact on the consolidated financial statements.

v3.24.3

Revenues Revenues	3 Months Ended
	Mar. 31, 2023
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. 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 mode of transportation moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $193 million and $178 million for the three months ended March 31, 2024 and 2023, 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 transaction 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 the Company has yet to provide. Contract liabilities of $508 million and $626 million as of March 31, 2024 and December 31, 2023, respectively, were recorded in accrued expenses and other payables in the consolidated balance sheets. Revenues recognized in the three months ended March 31, 2024 from the December 31, 2023 contract liabilities were $235 million. Disaggregation of Revenues The following tables present revenue disaggregated by timing of recognition and major product lines for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, 2024 Topic 606 Revenue Topic 815(1) Total (In millions) Point in Time Over Time Total Revenue Revenues Ag Services and Oilseeds Ag Services $ 1,022  $ 193  $ 1,215  $ 9,982  $ 11,197  Crushing 117  —  117  3,210  3,327  Refined Products and Other 548  —  548  2,147  2,695  Total Ag Services and Oilseeds 1,687  193  1,880  15,339  17,219  Carbohydrate Solutions Starches and Sweeteners 1,593  —  1,593  563  2,156  Vantage Corn Processors 527  —  527  —  527  Total Carbohydrate Solutions 2,120  —  2,120  563  2,683  Nutrition Human Nutrition 964  —  964  —  964  Animal Nutrition 872  —  872  —  872  Total Nutrition 1,836  —  1,836  —  1,836  Total Segment Revenues 5,643  193  5,836  15,902  21,738  Other Business 109  —  109  —  109  Total Revenues $ 5,752  $ 193  $ 5,945  $ 15,902  $ 21,847  Three Months Ended March 31, 2023 Topic 606 Revenue Topic 815(1) Total (In millions) Point in Time Over Time Total Revenue Revenues Ag Services and Oilseeds Ag Services $ 1,017  $ 178  $ 1,195  $ 10,500  $ 11,695  Crushing 191  —  191  3,492  3,683  Refined Products and Other 626  —  626  2,575  3,201  Total Ag Services and Oilseeds 1,834  178  2,012  16,567  18,579  Carbohydrate Solutions Starches and Sweeteners 2,084  —  2,084  653  2,737  Vantage Corn Processors 800  —  800  —  800  Total Carbohydrate Solutions 2,884  —  2,884  653  3,537  Nutrition Human Nutrition 936  —  936  —  936  Animal Nutrition 917  —  917  —  917  Total Nutrition 1,853  —  1,853  —  1,853  Total Segment Revenues 6,571  178  6,749  17,220  23,969  Other Business 103  —  103  —  103  Total Revenues $ 6,674  $ 178  $ 6,852  $ 17,220  $ 24,072  (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. 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 mode of transportation 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 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.

v3.24.3

Acquisitions	3 Months Ended
	Mar. 31, 2024
Business Combinations [Abstract]
Acquisitions	Acquisitions During the three months ended March 31, 2024, the Company acquired Revela Foods (“Revela”), a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients and solutions, FDL, a UK-based leading developer and producer of premium flavor and functional ingredient systems, and PT Trouw Nutrition Indonesia (“PT”), a subsidiary of Nutreco and leading provider of functional and nutritional solutions for livestock farming in Indonesia, for an aggregate cash consideration of $924 million. The aggregate cash consideration of these acquisitions, net of $9 million in cash acquired, was allocated as follows, subject to final measurement period adjustments: (In millions) Revela FDL PT Total Working capital $ 50  $ —  $ 5  $ 55  Property, plant, and equipment 38  33  5  76  Goodwill 403  145  5  553  Other intangible assets 166  97  —  263  Other long-term assets 28  1  —  29  Long-term liabilities (35) (26) —  (61) Aggregate cash consideration $ 650  $ 250  $ 15  $ 915  Goodwill recorded in connection with the acquisitions is primarily attributable to the synergies expected to arise after the Company’s acquisition of the businesses. Of the $553 million allocated to goodwill, none is expected to be deductible for tax purposes. These acquisitions add capabilities to the Human and Animal Nutrition businesses. The Company’s consolidated statement of earnings for the quarter ended March 31, 2024 includes the post-acquisition results of the acquired businesses which were immaterial. The following table sets forth the fair values and the useful lives of the other intangible assets acquired. Useful Lives Revela FDL Total (In years) (In millions) Intangible assets with finite lives: Trademarks/brands 3 $ —  $ 4  $ 4  Customer lists 10 to 18 124  73  197  Recipes and others 10 to 21 42  20  62  Total other intangible assets acquired $ 166  $ 97  $ 263

v3.24.3

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables set forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2024 and December 31, 2023.   Fair Value Measurements at March 31, 2024   Quoted Prices in  Active Markets  for Identical  Assets  (Level 1) Significant  Other  Observable  Inputs  (Level 2) Significant  Unobservable Inputs (Level 3) Total   (In millions) Assets:         Inventories carried at market $ —  $ 3,759  $ 2,948  $ 6,707  Unrealized derivative gains:         Commodity contracts —  598  764  1,362  Foreign currency contracts —  187  —  187  Cash equivalents 206  —  —  206  Segregated investments 1,663  —  —  1,663  Total Assets $ 1,869  $ 4,544  $ 3,712  $ 10,125  Liabilities:         Unrealized derivative losses:         Commodity contracts $ —  $ 448  $ 435  $ 883  Foreign currency contracts —  94  —  94  Inventory-related payables —  1,928  62  1,990  Total Liabilities $ —  $ 2,470  $ 497  $ 2,967    Fair Value Measurements at December 31, 2023     Quoted Prices in  Active Markets  for Identical  Assets  (Level 1) Significant  Other  Observable  Inputs  (Level 2) Significant  Unobservable Inputs (Level 3) Total   (In millions) Assets:         Inventories carried at market $ —  $ 4,274  $ 2,713  $ 6,987  Unrealized derivative gains:         Commodity contracts —  628  731  1,359  Foreign currency contracts —  187  —  187  Cash equivalents 209  —  —  209  Segregated investments 1,362  —  —  1,362  Total Assets $ 1,571  $ 5,089  $ 3,444  $ 10,104  Liabilities:         Unrealized derivative losses:         Commodity contracts $ —  $ 500  $ 457  $ 957  Foreign currency contracts —  144  —  144  Inventory-related payables —  1,219  101  1,320  Total Liabilities $ —  $ 1,863  $ 558  $ 2,421  Estimated fair values for inventories and inventory-related payables carried at market are based on exchange-quoted prices, adjusted for differences in local markets and quality, referred to as basis. Market valuations for the Company’s inventories are adjusted for location and quality (basis) because the exchange-quoted prices represent contracts with standardized terms for commodity, quantity, future delivery period, delivery location, and commodity quality or grade. The basis adjustments are generally determined using the inputs from competitor and broker quotations or market transactions and are considered observable. Basis adjustments are impacted by specific local supply and demand characteristics at each facility and the overall market. Factors such as substitute products, weather, fuel costs, contract terms, and futures prices also impact the movement of these basis adjustments. In some cases, the basis adjustments are unobservable because they are supported by little to no market activity. When unobservable inputs have a significant impact (more than 10%) on the measurement of fair value, the inventory is classified in Level 3. Changes in the fair value of inventories and inventory-related payables are recognized in the consolidated statements of earnings as a component of cost of products sold. Derivative contracts include exchange-traded commodity futures and options contracts, forward commodity purchase and sale contracts, and over-the-counter (OTC) instruments related primarily to agricultural commodities, energy, interest rates, and foreign currencies.  Exchange-traded futures and options contracts are valued based on unadjusted quoted prices in active markets and are classified in Level 1.  Substantially all of the Company’s exchange-traded futures and options contracts are cash-settled on a daily basis and, therefore, are not included in these tables.  Fair value for forward commodity purchase and sale contracts is estimated based on exchange-quoted prices adjusted for differences in local markets.  Market valuations for the Company’s forward commodity purchase and sale contracts are adjusted for location (basis) because the exchange-quoted prices represent contracts that have standardized terms for commodity, quantity, future delivery period, delivery location, and commodity quality or grade. The basis adjustments are generally determined using inputs from competitor and broker quotations or market transactions and are considered observable. Basis adjustments are impacted by specific local supply and demand characteristics at each facility and the overall market. Factors such as substitute products, weather, fuel costs, contract terms, and futures prices also impact the movement of these basis adjustments. In some cases, the basis adjustments are unobservable because they are supported by little to no market activity.  When observable inputs are available for substantially the full term of the contract, it is classified in Level 2.  When unobservable inputs have a significant impact (more than 10%) on the measurement of fair value, the contract is classified in Level 3.  Except for certain derivatives designated as cash flow hedges, changes in the fair value of commodity-related derivatives are recognized in the consolidated statements of earnings as a component of cost of products sold.  Changes in the fair value of foreign currency-related derivatives are recognized in the consolidated statements of earnings as a component of revenues, cost of products sold, and other (income) expense - net, depending upon the purpose of the contract.  The changes in the fair value of derivatives designated as effective cash flow hedges are recognized in the consolidated balance sheets as a component of accumulated other comprehensive income (AOCI) until the hedged items are recorded in earnings or it is probable the hedged transaction will no longer occur. The Company’s cash equivalents are comprised of money market funds valued using quoted market prices and are classified as Level 1. The Company’s segregated investments are comprised of U.S. Treasury securities. U.S. Treasury securities are valued using quoted market prices and are classified in Level 1. The debt conversion option was the equity linked embedded derivative related to the exchangeable bonds. The fair value of the embedded derivative was included in long-term debt, with changes in fair value recognized as interest, and was valued with the assistance of a third-party pricing service (a level 3 measurement). The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2024.   Level 3 Fair Value Asset Measurements at March 31, 2024   Inventories  Carried at  Market Commodity Derivative Contracts Gains   Total  Assets   (In millions) Balance, December 31, 2023 $ 2,713  $ 731  $ 3,444  Total increase (decrease) in net realized/unrealized gains included in cost of products sold* (97) 375  278  Purchases 3,789  —  3,789  Sales (3,883) —  (3,883) Settlements —  (352) (352) Transfers into Level 3 516  28  544  Transfers out of Level 3 (90) (18) (108) Ending balance, March 31, 2024 $ 2,948  $ 764  $ 3,712  * Includes increase in unrealized gains of $564 million relating to Level 3 assets still held at March 31, 2024. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2024. Level 3 Fair Value Liability Measurements at   March 31, 2024   Inventory-  related  Payables Commodity Derivative Contracts Losses   Total  Liabilities   (In millions) Balance, December 31, 2023 $ 101  $ 457  $ 558  Total increase (decrease) in net realized/unrealized losses included in cost of products sold* (3) 329  326  Purchases 1  —  1  Sales (38) —  (38) Settlements —  (290) (290) Transfers into Level 3 1  13  14  Transfers out of Level 3 —  (74) (74) Ending balance, March 31, 2024 $ 62  $ 435  $ 497  * Includes increase in unrealized losses of $338 million relating to Level 3 liabilities still held at March 31, 2024. The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2023.   Level 3 Fair Value Asset Measurements at March 31, 2023   Inventories  Carried at  Market Commodity Derivative Contracts Gains   Total  Assets   (In millions) Balance, December 31, 2022 $ 2,760  $ 541  $ 3,301  Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 2  477  479  Purchases 8,665  —  8,665  Sales (8,254) —  (8,254) Settlements —  (382) (382) Transfers into Level 3 605  50  655  Transfers out of Level 3 (275) (37) (312) Ending balance, March 31, 2023 $ 3,503  $ 649  $ 4,152  * Includes increase in unrealized gains of $632 million relating to Level 3 assets still held at March 31, 2023. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2023. Level 3 Fair Value Liability Measurements at   March 31, 2023   Inventory-  related  Payables Commodity Derivative Contracts Losses Debt Conversion Option   Total  Liabilities   (In millions) Balance, December 31, 2022 $ 89  $ 603  $ 6  $ 698  Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* (2) 243  (5) 236  Purchases 2  —  —  2  Settlements (31) (424) —  (455) Transfers into Level 3 —  39  —  39  Transfers out of Level 3 (1) (6) —  (7) Ending balance, March 31, 2023 $ 57  $ 455  $ 1  $ 513  * Includes increase in unrealized losses of $248 million relating to Level 3 liabilities still held at March 31, 2023. Transfers into Level 3 of assets and liabilities previously classified in Level 2 were due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts rising above the 10% threshold. Transfers out of Level 3 were primarily due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts falling below the 10% threshold and thus permitting reclassification to Level 2. In some cases, the price components that result in differences between exchange-traded prices and local prices for inventories and commodity purchase and sale contracts are observable based upon available quotations for these pricing components, and in some cases, the differences are unobservable. These price components primarily include transportation costs and other adjustments required due to location, quality, or other contract terms. In the table below, these other adjustments are referred to as basis. The changes in unobservable price components are determined by specific local supply and demand characteristics at each facility and the overall market. Factors such as substitute products, weather, fuel costs, contract terms, and futures prices also impact the movement of these unobservable price components. The following table sets forth the weighted average percentage of the unobservable price components included in the Company’s Level 3 valuations as of March 31, 2024 and December 31, 2023. The Company’s Level 3 measurements may include basis only, transportation cost only, or both price components. As an example, for Level 3 inventories with basis, the unobservable component as of March 31, 2024 is a weighted average 28.2% of the total price for assets and 25.9% of the total price for liabilities. Weighted Average % of Total Price March 31, 2024 December 31, 2023 Component Type Assets Liabilities Assets Liabilities Inventories and Related Payables Basis 28.2  % 25.9  % 25.0  % 33.2  % Transportation cost 18.6  % —  % 11.5  % —  % Commodity Derivative Contracts Basis 40.1  % 28.2  % 24.2  % 24.9  % Transportation cost 8.3  % 1.5  % 9.3  % 3.2  % In certain of the Company’s principal markets, the Company relies on price quotes from third parties to value its inventories and physical commodity purchase and sale contracts. These price quotes are generally not further adjusted by the Company in determining the applicable market price. In some cases, availability of third-party quotes is limited to only one or two independent sources. In these situations, absent other corroborating evidence, the Company considers these price quotes as 100% unobservable and, therefore, the fair value of these items is reported in Level 3.

v3.24.3

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Derivatives Not Designated as Hedging Instruments The majority of the Company’s derivative instruments have not been designated as hedging instruments. The Company uses exchange-traded futures and exchange-traded and OTC options contracts to manage its net position of merchandisable agricultural product inventories and forward cash purchase and sales contracts to reduce price risk caused by market fluctuations in agricultural commodities and foreign currencies.  The Company also uses exchange-traded futures and exchange-traded and OTC options contracts as components of merchandising strategies designed to enhance margins. The results of these strategies can be significantly impacted by factors such as the correlation between the value of exchange-traded commodities futures contracts and the value of the underlying commodities, counterparty contract defaults, and volatility of freight markets. Derivatives, including exchange-traded contracts and forward commodity purchase or sale contracts, and inventories of certain merchandisable agricultural products, which include amounts acquired under deferred pricing contracts, are stated at fair value.  Inventory is not a derivative and therefore fair values of and changes in fair values of inventories are not included in the tables below. The following table sets forth the fair value of derivatives not designated as hedging instruments as of March 31, 2024 and December 31, 2023.   March 31, 2024 December 31, 2023   Assets Liabilities Assets Liabilities   (In millions) Foreign Currency Contracts $ 145  $ 94  $ 187  $ 122  Commodity Contracts 1,351  883  1,343  957  Total $ 1,496  $ 977  $ 1,530  $ 1,079  The following tables set forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the three months ended March 31, 2024 and 2023. Other (income) expense - net   Cost of Interest (In millions) Revenues products sold expense Three Months Ended March 31, 2024 Consolidated Statement of Earnings $ 21,847  $ 20,188  $ (26) $ 166  Pre-tax gains (losses) on: Foreign Currency Contracts $ 1  $ (63) $ 54  $ —  Commodity Contracts —  197  —  —  Total gain (loss) recognized in earnings $ 1  $ 134  $ 54  $ —  $ 189  Three Months Ended March 31, 2023 Consolidated Statement of Earnings $ 24,072  $ 21,992  $ (44) $ 147  Pre-tax gains (losses) on: Foreign Currency Contracts $ (11) $ 95  $ (16) $ —  Commodity Contracts —  440  —  —  Debt Conversion Option —  —  —  5  Total gain (loss) recognized in earnings $ (11) $ 535  $ (16) $ 5  $ 513  Changes in the market value of inventories of certain merchandisable agricultural commodities, inventory-related payables, forward cash purchase and sales contracts, exchange-traded futures and exchange-traded and OTC options contracts are recognized in earnings immediately as a component of cost of products sold. Changes in the fair value of foreign currency-related derivatives are recognized in the consolidated statements of earnings as a component of revenues, cost of products sold, and other (income) expense - net depending on the purpose of the contract. Derivatives Designated as Cash Flow and Net Investment Hedging Strategies The Company had certain derivatives designated as cash flow and net investment hedges as of March 31, 2024 and December 31, 2023. For derivative instruments that are designated and qualify as highly-effective cash flow hedges (i.e., hedging the exposure to variability in expected future cash flow that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of AOCI and as an operating activity in the statement of cash flows, and is reclassified into earnings in the same line item affected by the hedged transaction in the same period or periods during which the hedged transaction affects earnings.  Hedge components excluded from the assessment of effectiveness and gains and losses related to discontinued hedges are recognized in the consolidated statement of earnings during the current period. Commodity Contracts For each of the hedge programs described below, the derivatives are designated as cash flow hedges.  The changes in the market value of such derivative contracts have historically been, and are expected to continue to be, highly effective at offsetting changes in price movements of the hedged item.  Once the hedged item is recognized in earnings, the gains and losses arising from the hedge are reclassified from AOCI to either revenues or cost of products sold, as applicable. The Company uses futures or options contracts to hedge the purchase price of anticipated volumes of corn to be purchased and processed in a future month.  The objective of this hedging program is to reduce the variability of cash flows associated with the Company’s forecasted purchases of corn.  The Company’s corn processing plants normally grind approximately 59 million bushels of corn per month. During the past 12 months, the Company hedged between 12% and 34% of its monthly grind. At March 31, 2024, the Company had designated hedges representing between 0% and 29% of its anticipated monthly grind of corn for the next 12 months. The Company uses futures and options contracts to hedge the purchase price of the anticipated volumes of soybeans to be purchased and processed in a future month for certain of its U.S. soybean crush facilities, subject to certain program limits. The Company also uses futures or options contracts to hedge the sales prices of anticipated soybean meal and soybean oil sales proportionate to the soybean crushing process at these facilities, subject to certain program limits. During the past 12 months, the Company hedged between 77% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities. At March 31, 2024, the Company had designated hedges representing between 3% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities over the next 12 months. The Company uses futures and OTC swaps to hedge the purchase price of anticipated volumes of natural gas consumption in a future month for certain of its facilities in North America and Europe, subject to certain program limits. During the past 12 months, the Company hedged between 39% and 80% of the anticipated monthly natural gas consumption at the designated facilities. At March 31, 2024, the Company had designated hedges representing between 34% and 70% of the anticipated monthly natural gas consumption over the next 12 months. As of March 31, 2024 and December 31, 2023, the Company had after-tax losses of $9 million and after-tax gains of $42 million in AOCI, respectively, related to gains and losses from these programs.  The Company expects to recognize $9 million of the March 31, 2024 after-tax losses in its consolidated statement of earnings during the next 12 months. Foreign Currency Contracts The Company uses cross-currency swaps and foreign exchange forwards designated as net investment hedges to protect the Company’s investment in a foreign subsidiary against changes in foreign currency exchange rates. The Company executed USD-fixed to Euro-fixed cross-currency swaps with an aggregate notional amount of $0.8 billion as of March 31, 2024 and December 31, 2023, and foreign exchange forwards with an aggregate notional amount of $2.1 billion as of March 31, 2024 and December 31, 2023. As of March 31, 2024 and December 31, 2023, the Company had after-tax gains of $46 million and after-tax losses of $5 million in AOCI, respectively, related to foreign exchange gains and losses from net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested. The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2024 and December 31, 2023.   March 31, 2024 December 31, 2023   Assets Liabilities Assets Liabilities   (In millions) Commodity Contracts $ 11  $ —  $ 16  $ —  Foreign Currency Contracts 42  —  —  22  Total $ 53  $ —  $ 16  $ 22  The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statements of earnings for the three months ended March 31, 2024 and 2023. Cost of products sold (In millions) Three Months Ended March 31, 2024 Consolidated Statement of Earnings $ 20,188  Effective amounts recognized in earnings   Pre-tax gains (losses) on: Commodity Contracts $ 19  Total gain (loss) recognized in earnings $ 19  $ 19  Three Months Ended March 31, 2023 Consolidated Statement of Earnings $ 21,992  Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ (104) Total gain (loss) recognized in earnings $ (104) $ (104) Other Net Investment Hedging Strategies The Company has designated €0.7 billion of its outstanding long-term debt and commercial paper borrowings at March 31, 2024 and December 31, 2023 as hedges of its net investment in a foreign subsidiary. As of March 31, 2024 and December 31, 2023, the Company had after-tax gains of $224 million and $212 million in AOCI, respectively, related to foreign exchange gains and losses from the net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested.

v3.24.3

Other Current Assets	3 Months Ended
	Mar. 31, 2024
Other Assets [Abstract]
Other Current Assets	Other Current Assets The following table sets forth the items in other current assets: March 31, December 31, 2024 2023   (In millions) Unrealized gains on derivative contracts $ 1,549  $ 1,546  Margin deposits and grain accounts 585  560  Customer omnibus receivable 1,131  1,052  Financing receivables - net (1) 178  237  Insurance premiums receivable 48  61  Prepaid expenses 412  445  Biodiesel tax credit 77  119  Tax receivables 479  491  Non-trade receivables 376  304  Other current assets 148  167    $ 4,983  $ 4,982  (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 $6 million at March 31, 2024 and December 31, 2023. Interest earned on financing receivables of $5 million and $6 million for the three months ended March 31, 2024 and 2023, respectively, is included in interest and investment income in the consolidated statements of earnings.

v3.24.3

Accrued Expenses And Other Payables	3 Months Ended
	Mar. 31, 2024
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses And Other Payables	Accrued Expenses and Other Payables The following table sets forth the items in accrued expenses and other payables: March 31, December 31, 2024 2023   (In millions) Unrealized losses on derivative contracts $ 977  $ 1,101  Accrued compensation 327  439  Income tax payable 312  284  Other taxes payable 196  172  Insurance claims payable 84  73  Contract liability 508  626  Other accruals and payables 1,518  1,381    $ 3,922  $ 4,076

v3.24.3

Debt And Financing Arrangements	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt And Financing Arrangements	Debt and Financing Arrangements At March 31, 2024, the fair value of the Company’s long-term debt was below the carrying value by $0.3 billion, as estimated using quoted market prices (a Level 2 measurement under applicable accounting standards). At March 31, 2024, the Company had lines of credit, including the accounts receivable securitization programs described below, totaling $12.8 billion, of which $8.8 billion was unused. Of the Company’s total lines of credit, $5.0 billion supported the combined U.S. and European commercial paper borrowing programs, against which there was $0.9 billion of commercial paper outstanding at March 31, 2024. The Company has accounts receivable securitization programs (the “Programs”). The Programs provide the Company with up to $3.0 billion in funding resulting from the sale of accounts receivable with $0.7 billion unused capacity as of March 31, 2024.

v3.24.3

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate was 18.8% for the three months ended March 31, 2024 compared to 16.1% for the three months ended March 31, 2023. The increase in the rate was primarily due to the change in the geographic mix of forecasted pretax earnings and the impact of discrete tax items. The Organization for Economic Cooperation and Development’s Pillar Two initiative introduced a 15% global minimum tax applied on a country-by-country basis that has been enacted in certain jurisdictions in which the Company operates, with effective dates starting in fiscal year 2024. The Company is in scope of the enacted legislation and has performed an assessment of the potential exposure based on its most recent tax filings, country-by-country reporting, and the financial results of the constituent entities. Based on the assessment, the effective tax rates in most of the jurisdictions in which the Company operates are above the 15% global minimum tax threshold. However, there are a limited number of jurisdictions where the effective tax rate is close to 15%. ADM does not expect a material liability to global minimum tax in those jurisdictions. The Company is subject to income taxation and routine examinations in many jurisdictions around the world and frequently faces challenges regarding the amount of taxes due.  These challenges include positions taken by the Company related to the timing, nature, and amount of deductions and the allocation of income among various tax jurisdictions.  In its routine evaluations of the exposure associated with various tax filing positions, the Company recognizes a liability, when necessary, for estimated potential tax owed by the Company in accordance with applicable accounting standards. Resolution of the related tax positions, through negotiations with relevant tax authorities or through litigation, may take years to complete. Therefore, it is difficult to predict the timing for resolution of tax positions and the Company cannot predict or provide assurance as to the ultimate outcome of these ongoing or future examinations. However, the Company does not anticipate the total amount of unrecognized tax benefits will increase or decrease significantly in the next twelve months. Given the long periods of time involved in resolving tax positions, the Company does not expect the recognition of unrecognized tax benefits will have a material impact on the Company’s effective income tax rate in any given period. In 2014, the Company’s wholly-owned subsidiary in the Netherlands, ADM Europe B.V., received a tax assessment from the Netherlands tax authority challenging the transfer pricing aspects of a 2009 business reorganization, which involved two of its subsidiary companies in the Netherlands. As of March 31, 2024, this assessment was $88 million in tax and $34 million in interest (adjusted for variation in currency exchange rates). On April 23, 2020, the court issued an unfavorable ruling and in October 2020, assigned a third party expert to establish a valuation. During the second quarter of 2021, the third party expert issued a final valuation. On September 30, 2022, the court issued a ruling consistent with the valuation report, and the Dutch tax authorities have filed an appeal. During the quarter ended March 31, 2023, ADM filed a cross-appeal and is currently awaiting the court’s ruling. As of March 31, 2024, the Company has accrued its best estimate of what it believes will be the likely outcome of the litigation.

v3.24.3

Shareholders' Equity	3 Months Ended
	Mar. 31, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Equity	Shareholders’ Equity Accelerated Share Repurchase On March 12, 2024, the Company entered into an accelerated share repurchase (“ASR”) transaction agreement (“ASR Agreement”) with Merrill Lynch International, an affiliate of BofA Securities, Inc., to repurchase $1.0 billion (the “Prepayment Amount”) of ADM common stock (“Common Stock”). The ASR transaction is part of ADM’s existing share repurchase program to repurchase up to 200 million shares through December 31, 2024. Under the terms of the ASR Agreement, on March 13, 2024, the Company paid the Prepayment Amount and received no upfront shares of Common Stock. The total number of shares of Common Stock to be repurchased under the ASR Agreement will be based on volume weighted-average prices of the Common Stock during the term of the ASR transaction less a discount and subject to certain adjustments pursuant to the terms of the ASR Agreement. ADM will receive share deliveries at the end of each month commencing in March 2024, and upon final settlement of the ASR transaction, which is expected to occur no later than the end of the second quarter of 2024. On March 28, 2024, the Company received an interim delivery of 8,880,986 shares at an average share price of $60.596 or $538 million. The Prepayment Amount initially recorded in additional paid in capital was partially reclassified to reinvested earnings for the $538 million amount repurchased. As of March 31, 2024, the Company had 38.5 million remaining shares under its share repurchase program. Accumulated Other Comprehensive Income The following tables set forth the changes in AOCI by component for the three months ended March 31, 2024 and the reclassifications out of AOCI for the three months ended March 31, 2024 and 2023: Three months ended March 31, 2024   Foreign Currency Translation Adjustment Deferred Gain (Loss) on Hedging Activities Pension Liability Adjustment Unrealized Gain (Loss) on Investments Total   (In millions) Balance at December 31, 2023 $ (2,539) $ 158  $ (108) $ 2  $ (2,487) Other comprehensive income (loss) before reclassifications (77) (50) (2) (7) (136) Gain (loss) on net investment hedges 84  —  —  —  84  Amounts reclassified from AOCI —  (19) (2) —  (21) Tax effect (20) 10  1  (1) (10) Net of tax amount (13) (59) (3) (8) (83) Balance at March 31, 2024 $ (2,552) $ 99  $ (111) $ (6) $ (2,570) Amount reclassified from AOCI Three months ended March 31, Affected line item in the consolidated statements of earnings Details about AOCI components 2024 2023 (In millions) Deferred loss (gain) on hedging activities (19) 104  Cost of products sold (19) 104  Total before tax 4  (18) Tax $ (15) $ 86  Net of tax Pension liability adjustment Amortization of defined benefit pension items: Prior service loss (credit) $ (5) $ (11) Other (income) expense-net Actuarial losses 3  (20) Other (income) expense-net (2) (31) Total before tax 1  (12) Tax $ (1) $ (43) Net of tax The Company’s accounting policy is to release the income tax effects from AOCI when the individual units of account are sold, terminated, or extinguished.

v3.24.3

Other (Income) Expense - Net	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
Other (Income) Expense - Net	Other (Income) Expense – Net The following table sets forth the items in other (income) expense: Three Months Ended March 31,   2024 2023   (In millions) Gains on sale of assets $ (2) $ (11) Other – net (24) (33) Other (Income) Expense – Net $ (26) $ (44) Gains on sale of assets in the three months ended March 31, 2024 and 2023 consisted of gains on sales of certain assets and disposals of individually insignificant assets in the ordinary course of business. Other – net in the three months ended March 31, 2024 included the non-service components of net pension benefit income of $5 million, net foreign exchange gains, and net other income. Other – net in the three months ended March 31, 2023 included the non-service components of net pension benefit income of $4 million, net foreign exchange gains, and net other income.

v3.24.3

Segment Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information - Restated The Company’s operations are organized, managed, and classified into three reportable business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. Each of these segments is organized based upon the nature of products and services offered. The Company’s remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Other Business. Intersegment sales have been recorded using principles consistent with ASC 606, Revenue from Contracts with Customers. Operating profit for each segment is based on net sales less identifiable operating expenses. Also included in operating profit for each segment is equity in earnings of affiliates based on the equity method of accounting. Specified items and certain corporate items are not allocated to the Company’s individual business segments because operating performance of each business segment is evaluated by management exclusive of these items. Corporate results principally include unallocated corporate expenses, interest cost net of interest income, and revaluation gains and losses on cost method investments and the share of the results of equity investments in early-stage start-up companies. Restatement of Certain Segment-Specific Historical Financial Information As described in Note 1 to the Consolidated Financial Statements, the Company has restated its Consolidated Financial Statements as of March 31, 2024 and 2023 and for the quarters ended March 31, 2024 and 2023. As a result, the previously reported financial information as of March 31, 2024 and 2023 and for the quarters ended March 31, 2024 and 2023 in this Note 13. Segment Information, has been updated to reflect the restatements. The following tables set forth the impact of the restatements on intersegment sales and segment operating profit for each of the Company’s three reportable segments for the three months ended March 31, 2024 and 2023. Intersegment pricing adjustments include restatements related to intersegment sales that were not in accordance with prior disclosures about presenting such sales at amounts approximating market. Intersegment classification adjustments include restatements related to intrasegment sales (resulting from sales within the segment) previously misclassified and reported as intersegment sales (resulting from sales from one segment to another). Intersegment pricing adjustments and Intersegment classification adjustments are included within the Intersegment sales amounts and segment operating profit amounts previously reported by the Company in the Form 10-Q filed with the SEC on April 30, 2024. In the course of testing new controls implemented as part of the Company’s material weakness remediation plan in the third quarter of 2024, ADM identified additional intrasegment sales previously misclassified and reported as intersegment sales. The Company also identified some intersegment sales that were not accounted for consistently in accordance with revenue recognition and segment reporting standards and should not have been reported as intersegment sales. These amounts are presented in the table below as Additional intersegment classification adjustments. The Company also is correcting certain segment disclosure presentation errors in this Form 10-Q/A. See Note 1 for further information. Impact of the Restatement on the Ag Services and Oilseeds Segment Three Months Ended March 31, (In millions) 2024 (Restated) 2023 (Restated) Intersegment revenues, as originally reported $ 609  $ 1,335  Intersegment pricing adjustments —  1  Intersegment classification adjustments —  (595) Intersegment revenues, as previously reported 609  741  Additional intersegment classification adjustments (183) (211) Intersegment revenues, as restated $ 426  $ 530  Segment operating profit, as originally reported $ 864  $ 1,210  Intersegment pricing adjustments —  1  Segment operating profit, as restated $ 864  $ 1,211  Impact of the Restatement on the Carbohydrate Solutions Segment Three Months Ended March 31, (In millions) 2024 (Restated) 2023 (Restated) Intersegment revenues, as originally reported $ 279  $ 729  Intersegment pricing adjustments —  6  Intersegment classification adjustments —  (230) Intersegment revenues, as previously reported 279  505  Additional intersegment classification adjustments (71) (235) Intersegment revenues, as restated $ 208  $ 270  Segment operating profit, as originally reported $ 248  $ 273  Intersegment pricing adjustments —  6  Segment operating profit, as restated $ 248  $ 279  Impact of the Restatement on the Nutrition Segment Three Months Ended March 31, (In millions) 2024 (Restated) 2023 (Restated) Intersegment revenues, as originally reported $ 6  $ 91  Intersegment pricing adjustments —  —  Intersegment classification adjustments —  (55) Intersegment revenues, as previously reported 6  36  Additional intersegment classification adjustments 7  (24) Intersegment revenues, as restated $ 13  $ 12  Segment operating profit, as originally reported $ 84  $ 145  Intersegment pricing adjustments —  (7) Segment operating profit, as restated $ 84  $ 138  For more information about the Company’s business segments, refer to Note 17 of “Notes to Consolidated Financial Statements” included in Item 8, “Financial Statements and Supplementary Data” included in the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2023. Segment Information for the Three Months ended March 31, 2024 and 2023 Three Months Ended March 31, (In millions) 2024 2023 Revenues from external customers     Ag Services and Oilseeds Ag Services $ 11,197  $ 11,695  Crushing 3,327  3,683  Refined Products and Other 2,695  3,201  Total Ag Services and Oilseeds 17,219  18,579  Carbohydrate Solutions Starches and Sweeteners 2,156  2,737  Vantage Corn Processors 527  800  Total Carbohydrate Solutions 2,683  3,537  Nutrition Human Nutrition 964  936  Animal Nutrition 872  917  Total Nutrition 1,836  1,853  Total segment revenues from external customers 21,738  23,969  Other Business 109  103  Total revenues from external customers $ 21,847  $ 24,072  Intersegment revenues, as restated Ag Services and Oilseeds $ 426  $ 530  Carbohydrate Solutions 208  270  Nutrition 13  12  Total intersegment revenues, as restated $ 647  $ 812  Segment operating profit, as restated Ag Services and Oilseeds $ 864  $ 1,211  Carbohydrate Solutions 248  279  Nutrition 84  138  Total segment operating profit, as restated 1,196  1,628  Other Business earnings (loss) 121  97     Corporate (426) (322) Specified items: Gains on sale of assets(1) —  1  Impairment and restructuring charges(2) (6) (7) Earnings before income taxes $ 885  $ 1,397  (1) Prior quarter gains were related to the sale of certain assets. (2) Current and prior quarter charges were related to the impairment of certain long-lived assets and restructuring.

v3.24.3

Asset Impairment, Exit, and Restructuring Costs	3 Months Ended
	Mar. 31, 2024
Restructuring, Settlement and Impairment Provisions [Abstract]
Asset Impairment, Exit, and Restructuring Costs	Asset Impairment, Exit, and Restructuring Costs Asset impairment, exit, and restructuring costs in the three months ended March 31, 2024 consisted of impairments related to certain long-lived assets of $3 million and restructuring charges of $3 million, presented as specified items, and restructuring charges in Corporate of $12 million. Asset impairment, exit, and restructuring costs in the three months ended March 31, 2023 consisted of $3 million of impairments related to certain long-lived assets and $4 million of restructuring charges, presented as specified items.

v3.24.3

Sale of Accounts Receivable	3 Months Ended
	Mar. 31, 2024
Transfers and Servicing [Abstract]
Sale of Accounts Receivable	The Company has an accounts receivable securitization program (the “First Program”) with certain commercial paper conduit purchasers and committed purchasers (collectively, the “First Purchasers”).  Under the First Program, certain U.S.-originated trade accounts receivable are sold to a wholly-owned bankruptcy-remote entity, ADM Receivables, LLC (“ADM Receivables”). ADM Receivables transfers certain of the purchased accounts receivable to each of the First Purchasers together with a security interest in all of its right, title, and interest in the remaining purchased accounts receivable. In exchange, ADM Receivables receives a cash payment of up to $1.9 billion for the accounts receivable transferred. The First Program terminates on May 17, 2024, unless extended. The Company also has an accounts receivable securitization program (the “Second Program”) with certain commercial paper conduit purchasers and committed purchasers (collectively, the “Second Purchasers”). Under the Second Program, certain non-U.S.-originated trade accounts receivable are sold to a wholly-owned bankruptcy-remote entity, ADM Ireland Receivables Company (ADM Ireland Receivables). ADM Ireland Receivables transfers certain of the purchased accounts receivable to each of the Second Purchasers together with a security interest in all of its right, title, and interest in the remaining purchased accounts receivable. In exchange, ADM Ireland Receivables receives a cash payment of up to $1.1 billion (€1.0 billion) for the accounts receivables transferred. The Second Program terminates on April 18, 2025, unless extended. Under the First and Second Programs (collectively, the “Programs”), ADM Receivables and ADM Ireland Receivables use the cash proceeds from the transfer of receivables to the First Purchasers and Second Purchasers (collectively, the “Purchasers”) and other consideration, as applicable, to finance the purchase of receivables from the Company and the ADM subsidiaries originating the receivables. The Company accounts for these transfers as sales. The Company acts as a servicer for the transferred receivables. At March 31, 2024 and December 31, 2023, the Company did not record a servicing asset or liability related to its retained responsibility, based on its assessment of the servicing fee, market values for similar transactions, and its cost of servicing the receivables sold. As of March 31, 2024 and December 31, 2023, the fair value of trade receivables transferred to the Purchasers under the Programs and derecognized from the Company’s consolidated balance sheets was $2.3 billion and $1.6 billion, respectively. Total receivables sold were $12.3 billion and $15.1 billion for the three months ended March 31, 2024 and 2023, respectively. Cash collections from customers on receivables sold were $11.8 billion and $14.8 billion for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024 and December 31, 2023, receivables pledged as collateral to the Purchasers was $0.7 billion and $1.1 billion, respectively. Transfers of receivables under the Programs resulted in an expense for the loss on sale of $27 million and $23 million for the three months ended March 31, 2024 and 2023, respectively, which is classified as selling, general, and administrative expenses in the consolidated statements of earnings. All cash flows under the Programs are classified as operating activities because the cash received from the Purchasers upon both the sale and collection of the receivables is not subject to significant interest rate risk given the short-term nature of the Company’s trade receivables.

v3.24.3

Supplier Finance Programs	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Supplier Finance Program	Supplier Finance Programs ADM has Supplier Payable Programs (“SPP”) with financial institutions which act as its paying agents for payables due to certain of its suppliers. The Company has neither an economic interest in a supplier’s participation in the SPP nor a direct financial relationship with the financial institutions, and has concluded that its obligations to the suppliers, including amounts due and scheduled payment terms, are not impacted by their participation in the SPP. Accordingly, amounts associated with the SPP continue to be classified in trade payables in the Company’s consolidated balance sheet and in operating activities in its consolidated statement of cash flows. The supplier invoices that have been confirmed as valid under the program require payment in full generally within 90 days of the invoice date. As of March 31, 2024 and December 31, 2023, the Company’s outstanding payment obligations that suppliers had elected to sell to the financial institutions were $275 million and $274 million, respectively. Changes to the outstanding payment obligations are as follows: March 31, 2024 (In millions) Beginning, January 1, 2024 $ 274  Obligations confirmed 257  Obligations paid (256) Ending, March 31, 2024 $ 275

v3.24.3

Legal Proceedings	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Legal Matters and Contingencies	Legal Proceedings The Company is routinely involved in a number of actual or threatened legal actions, including those involving alleged personal injuries, employment law, product liability, intellectual property, environmental issues, alleged tax liability (see Note 10 for information on income tax matters), and class actions. The Company also routinely receives inquiries from regulators and other government authorities relating to various aspects of its business, and at any given time, the Company has matters at various stages of resolution. The outcomes of these matters are not within Company’s complete control and may not be known for prolonged periods of time. In some actions, claimants seek damages, as well as other relief including injunctive relief, that could require significant expenditures or result in lost revenues. In accordance with applicable accounting standards, the Company records a liability in its consolidated financial statements for material loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a material loss contingency is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed in the notes to the consolidated financial statements. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. Estimates of probable losses resulting from litigation and governmental proceedings involving the Company are inherently difficult to predict, particularly when the matters are in early procedural stages, with incomplete facts or legal discovery; involve unsubstantiated or indeterminate claims for damages; potentially involve penalties, fines, disgorgement, or punitive damages; or could result in a change in business practice. Commodities Class Actions On September 4, 2019, AOT Holding AG (“AOT”) filed a putative class action under the U.S. Commodities Exchange Act in federal district court in Urbana, Illinois, alleging that the Company sought to manipulate the benchmark price used to price and settle ethanol derivatives traded on futures exchanges. On March 16, 2021, AOT filed an amended complaint adding a second named plaintiff Maize Capital Group, LLC (“Maize”). AOT and Maize allege that members of the putative class collectively suffered damages calculated to be between approximately $500 million to over $2.0 billion as a result of the Company’s alleged actions. On July 14, 2020, Green Plains Inc. and its related entities (“GP”) filed a putative class action lawsuit, alleging substantially the same operative facts, in federal court in Nebraska, seeking to represent sellers of ethanol. On July 23, 2020, Midwest Renewable Energy, LLC (“MRE”) filed a putative class action in federal court in Illinois alleging substantially the same operative facts and asserting claims under the Sherman Act. On November 11, 2020, United Wisconsin Grain Producers LLC (“UWGP”) and five other ethanol producers filed a lawsuit in federal court in Illinois alleging substantially the same facts and asserting claims under the Sherman Act and Illinois, Iowa, and Wisconsin law. The court granted ADM’s motion to dismiss the MRE and UWGP complaints without prejudice on August 9, 2021 and September 28, 2021, respectively. On August 16, 2021, the court granted ADM’s motion to dismiss the GP complaint, dismissing one claim with prejudice and declining jurisdiction over the remaining state law claim. MRE filed an amended complaint on August 30, 2021, which ADM moved to dismiss on September 27, 2021. The court denied ADM’s motion to dismiss on September 26, 2023. UWGP filed an amended complaint on October 19, 2021, which the court dismissed on July 12, 2022. UWGP has appealed the dismissal to the United States Court of Appeals for the Seventh Circuit. On October 26, 2021, GP filed a new complaint in Nebraska federal district court, alleging substantially the same facts and asserting a claim for tortious interference with contractual relations. On March 18, 2022, the Nebraska federal district court granted ADM’s motion to transfer the GP case back to the Central District of Illinois for further proceedings. ADM moved to dismiss the complaint on May 20, 2022 and on December 30, 2022, the court dismissed GP’s complaint with prejudice. GP appealed the dismissal. On January 12, 2024, the appellate court vacated the dismissal and remanded the case to the district court for further proceedings. On March 8, 2024, GP filed an amended complaint. The Company denies liability, and is vigorously defending itself in these actions. As these actions are in pretrial proceedings, the Company is unable at this time to predict the final outcome with any reasonable degree of certainty, but believes the outcome will not have a material adverse effect on its financial condition, results of operations, or cash flows. Intersegment Sales Investigations On June 30, 2023, the Company received a voluntary document request from the SEC relating to intersegment sales between the Company’s Nutrition reporting segment and the Company’s Ag Services and Oilseeds and Carbohydrate Solutions reporting segments, and subsequently received an additional document request from the SEC. The Company is cooperating with the SEC. Following the Company’s January 21, 2024 announcement of the Investigation, the Company received document requests from the Department of Justice (“DOJ”) focused primarily on the same subject matter, and the DOJ directed grand jury subpoenas to certain current and former Company employees. The Company is cooperating with the DOJ. The Company is unable to predict the final outcome of these investigations with any reasonable degree of certainty. Securities Litigation On January 24, 2024, following the Company’s January 21, 2024 announcement of the investigation relating to intersegment sales, a purported stockholder of the Company filed a putative class action in the U.S. District Court for the Northern District of Illinois against the Company and its Chief Executive Officer, as well as Vikram Luthar and Ray Young. The plaintiff alleges false and misleading statements in the Company’s disclosures and seeks unspecified compensatory and punitive damages. On March 29, 2024 and April 12, 2024, purported stockholders of the Company filed derivative lawsuits in the U.S. District Court for the Northern District of Illinois against the Chief Executive Officer, Vikram Luthar, Ray Young, and certain individual ADM Directors, alleging false and misleading statements in the Company’s proxy statements, breach of fiduciary duty, and corporate waste, among other claims, and seeking unspecified damages. On April 23, 2024, a purported stockholder of the Company filed a derivative lawsuit in the U.S. District Court for the District of Delaware against the Chief Executive Officer, Vikram Luthar, Ray Young, and certain individual ADM Directors, asserting claims for breach of fiduciary duty and contribution and indemnification under the Securities Exchange Act and seeking unspecified damages. The Company is unable to predict the final outcome of these proceedings with any reasonable degree of certainty.

v3.24.3

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Event On April 15, 2024, the Company received a final delivery of 7,325,733 shares at an average share price of $63.065 or $462 million as final settlement of the ASR transaction (see Note 11 for more information).

v3.24.3

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 729	$ 1,170

v3.24.3

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	None of the Company’s directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted, modified or terminated any contract, instruction, or written plan for the purchase or sale of ADM’s securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act or any non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the quarter ended March 31, 2024.
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

v3.24.3

Revenues Revenues (Policies)	3 Months Ended
	Mar. 31, 2023
Revenues [Abstract]
Revenue Recognition, Policy [Policy Text Block]	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. 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 mode of transportation moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $193 million and $178 million for the three months ended March 31, 2024 and 2023, 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 transaction prices or as a component of revenues and cost of products sold.

v3.24.3

Basis of Presentation and Restatement of Previously Filed Consolidated Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory, Current	The following table sets forth the Company’s inventories as of March 31, 2024 and December 31, 2023. March 31, 2024 December 31, 2023   (In millions) Raw materials and supplies $ 1,880  $ 1,944  Finished goods 3,047  3,026  Market inventories 6,707  6,987  Total inventories $ 11,634  $ 11,957
Accounts Receivable, Allowance for Credit Loss	Changes to the allowance for estimated uncollectible accounts are as follows: March 31, 2024 March 31, 2023 (In millions) Beginning, January 1 $ 215  $ 199  Current year provisions 5  4 Recoveries 8  1  Write-offs against allowance (13) (24) Foreign exchange translation adjustment 1  1  Other —  1  Ending, March 31 $ 216  $ 182

v3.24.3

Revenues Revenues (Tables)	3 Months Ended
	Mar. 31, 2024
Revenues [Abstract]
Disaggregation of Revenue [Table Text Block]	Disaggregation of Revenues The following tables present revenue disaggregated by timing of recognition and major product lines for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, 2024 Topic 606 Revenue Topic 815(1) Total (In millions) Point in Time Over Time Total Revenue Revenues Ag Services and Oilseeds Ag Services $ 1,022  $ 193  $ 1,215  $ 9,982  $ 11,197  Crushing 117  —  117  3,210  3,327  Refined Products and Other 548  —  548  2,147  2,695  Total Ag Services and Oilseeds 1,687  193  1,880  15,339  17,219  Carbohydrate Solutions Starches and Sweeteners 1,593  —  1,593  563  2,156  Vantage Corn Processors 527  —  527  —  527  Total Carbohydrate Solutions 2,120  —  2,120  563  2,683  Nutrition Human Nutrition 964  —  964  —  964  Animal Nutrition 872  —  872  —  872  Total Nutrition 1,836  —  1,836  —  1,836  Total Segment Revenues 5,643  193  5,836  15,902  21,738  Other Business 109  —  109  —  109  Total Revenues $ 5,752  $ 193  $ 5,945  $ 15,902  $ 21,847  Three Months Ended March 31, 2023 Topic 606 Revenue Topic 815(1) Total (In millions) Point in Time Over Time Total Revenue Revenues Ag Services and Oilseeds Ag Services $ 1,017  $ 178  $ 1,195  $ 10,500  $ 11,695  Crushing 191  —  191  3,492  3,683  Refined Products and Other 626  —  626  2,575  3,201  Total Ag Services and Oilseeds 1,834  178  2,012  16,567  18,579  Carbohydrate Solutions Starches and Sweeteners 2,084  —  2,084  653  2,737  Vantage Corn Processors 800  —  800  —  800  Total Carbohydrate Solutions 2,884  —  2,884  653  3,537  Nutrition Human Nutrition 936  —  936  —  936  Animal Nutrition 917  —  917  —  917  Total Nutrition 1,853  —  1,853  —  1,853  Total Segment Revenues 6,571  178  6,749  17,220  23,969  Other Business 103  —  103  —  103  Total Revenues $ 6,674  $ 178  $ 6,852  $ 17,220  $ 24,072  (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.

v3.24.3

Acquisitions Business Acquisition (Tables)	3 Months Ended
	Mar. 31, 2024
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The aggregate cash consideration of these acquisitions, net of $9 million in cash acquired, was allocated as follows, subject to final measurement period adjustments: (In millions) Revela FDL PT Total Working capital $ 50  $ —  $ 5  $ 55  Property, plant, and equipment 38  33  5  76  Goodwill 403  145  5  553  Other intangible assets 166  97  —  263  Other long-term assets 28  1  —  29  Long-term liabilities (35) (26) —  (61) Aggregate cash consideration $ 650  $ 250  $ 15  $ 915
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	The following table sets forth the fair values and the useful lives of the other intangible assets acquired. Useful Lives Revela FDL Total (In years) (In millions) Intangible assets with finite lives: Trademarks/brands 3 $ —  $ 4  $ 4  Customer lists 10 to 18 124  73  197  Recipes and others 10 to 21 42  20  62  Total other intangible assets acquired $ 166  $ 97  $ 263

v3.24.3

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following tables set forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2024 and December 31, 2023.   Fair Value Measurements at March 31, 2024   Quoted Prices in  Active Markets  for Identical  Assets  (Level 1) Significant  Other  Observable  Inputs  (Level 2) Significant  Unobservable Inputs (Level 3) Total   (In millions) Assets:         Inventories carried at market $ —  $ 3,759  $ 2,948  $ 6,707  Unrealized derivative gains:         Commodity contracts —  598  764  1,362  Foreign currency contracts —  187  —  187  Cash equivalents 206  —  —  206  Segregated investments 1,663  —  —  1,663  Total Assets $ 1,869  $ 4,544  $ 3,712  $ 10,125  Liabilities:         Unrealized derivative losses:         Commodity contracts $ —  $ 448  $ 435  $ 883  Foreign currency contracts —  94  —  94  Inventory-related payables —  1,928  62  1,990  Total Liabilities $ —  $ 2,470  $ 497  $ 2,967    Fair Value Measurements at December 31, 2023     Quoted Prices in  Active Markets  for Identical  Assets  (Level 1) Significant  Other  Observable  Inputs  (Level 2) Significant  Unobservable Inputs (Level 3) Total   (In millions) Assets:         Inventories carried at market $ —  $ 4,274  $ 2,713  $ 6,987  Unrealized derivative gains:         Commodity contracts —  628  731  1,359  Foreign currency contracts —  187  —  187  Cash equivalents 209  —  —  209  Segregated investments 1,362  —  —  1,362  Total Assets $ 1,571  $ 5,089  $ 3,444  $ 10,104  Liabilities:         Unrealized derivative losses:         Commodity contracts $ —  $ 500  $ 457  $ 957  Foreign currency contracts —  144  —  144  Inventory-related payables —  1,219  101  1,320  Total Liabilities $ —  $ 1,863  $ 558  $ 2,421
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2024.   Level 3 Fair Value Asset Measurements at March 31, 2024   Inventories  Carried at  Market Commodity Derivative Contracts Gains   Total  Assets   (In millions) Balance, December 31, 2023 $ 2,713  $ 731  $ 3,444  Total increase (decrease) in net realized/unrealized gains included in cost of products sold* (97) 375  278  Purchases 3,789  —  3,789  Sales (3,883) —  (3,883) Settlements —  (352) (352) Transfers into Level 3 516  28  544  Transfers out of Level 3 (90) (18) (108) Ending balance, March 31, 2024 $ 2,948  $ 764  $ 3,712  * Includes increase in unrealized gains of $564 million relating to Level 3 assets still held at March 31, 2024. The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2023.   Level 3 Fair Value Asset Measurements at March 31, 2023   Inventories  Carried at  Market Commodity Derivative Contracts Gains   Total  Assets   (In millions) Balance, December 31, 2022 $ 2,760  $ 541  $ 3,301  Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 2  477  479  Purchases 8,665  —  8,665  Sales (8,254) —  (8,254) Settlements —  (382) (382) Transfers into Level 3 605  50  655  Transfers out of Level 3 (275) (37) (312) Ending balance, March 31, 2023 $ 3,503  $ 649  $ 4,152  * Includes increase in unrealized gains of $632 million relating to Level 3 assets still held at March 31, 2023.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2024. Level 3 Fair Value Liability Measurements at   March 31, 2024   Inventory-  related  Payables Commodity Derivative Contracts Losses   Total  Liabilities   (In millions) Balance, December 31, 2023 $ 101  $ 457  $ 558  Total increase (decrease) in net realized/unrealized losses included in cost of products sold* (3) 329  326  Purchases 1  —  1  Sales (38) —  (38) Settlements —  (290) (290) Transfers into Level 3 1  13  14  Transfers out of Level 3 —  (74) (74) Ending balance, March 31, 2024 $ 62  $ 435  $ 497  * Includes increase in unrealized losses of $338 million relating to Level 3 liabilities still held at March 31, 2024. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2023. Level 3 Fair Value Liability Measurements at   March 31, 2023   Inventory-  related  Payables Commodity Derivative Contracts Losses Debt Conversion Option   Total  Liabilities   (In millions) Balance, December 31, 2022 $ 89  $ 603  $ 6  $ 698  Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* (2) 243  (5) 236  Purchases 2  —  —  2  Settlements (31) (424) —  (455) Transfers into Level 3 —  39  —  39  Transfers out of Level 3 (1) (6) —  (7) Ending balance, March 31, 2023 $ 57  $ 455  $ 1  $ 513  * Includes increase in unrealized losses of $248 million relating to Level 3 liabilities still held at March 31, 2023. Transfers into Level 3 of assets and liabilities previously classified in Level 2 were due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts rising above the 10% threshold. Transfers out of Level 3 were primarily due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts falling below the 10% threshold and thus permitting reclassification to Level 2. In some cases, the price components that result in differences between exchange-traded prices and local prices for inventories and commodity purchase and sale contracts are observable based upon available quotations for these pricing components, and in some cases, the differences are unobservable. These price components primarily include transportation costs and other adjustments required due to location, quality, or other contract terms. In the table below, these other adjustments are referred to as basis. The changes in unobservable price components are determined by specific local supply and demand characteristics at each facility and the overall market. Factors such as substitute products, weather, fuel costs, contract terms, and futures prices also impact the movement of these unobservable price components.
Unobservable Price Components Present in the Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table sets forth the weighted average percentage of the unobservable price components included in the Company’s Level 3 valuations as of March 31, 2024 and December 31, 2023. The Company’s Level 3 measurements may include basis only, transportation cost only, or both price components. As an example, for Level 3 inventories with basis, the unobservable component as of March 31, 2024 is a weighted average 28.2% of the total price for assets and 25.9% of the total price for liabilities. Weighted Average % of Total Price March 31, 2024 December 31, 2023 Component Type Assets Liabilities Assets Liabilities Inventories and Related Payables Basis 28.2  % 25.9  % 25.0  % 33.2  % Transportation cost 18.6  % —  % 11.5  % —  % Commodity Derivative Contracts Basis 40.1  % 28.2  % 24.2  % 24.9  % Transportation cost 8.3  % 1.5  % 9.3  % 3.2  %

v3.24.3

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	The following table sets forth the fair value of derivatives not designated as hedging instruments as of March 31, 2024 and December 31, 2023.   March 31, 2024 December 31, 2023   Assets Liabilities Assets Liabilities   (In millions) Foreign Currency Contracts $ 145  $ 94  $ 187  $ 122  Commodity Contracts 1,351  883  1,343  957  Total $ 1,496  $ 977  $ 1,530  $ 1,079  The following tables set forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the three months ended March 31, 2024 and 2023. Other (income) expense - net   Cost of Interest (In millions) Revenues products sold expense Three Months Ended March 31, 2024 Consolidated Statement of Earnings $ 21,847  $ 20,188  $ (26) $ 166  Pre-tax gains (losses) on: Foreign Currency Contracts $ 1  $ (63) $ 54  $ —  Commodity Contracts —  197  —  —  Total gain (loss) recognized in earnings $ 1  $ 134  $ 54  $ —  $ 189  Three Months Ended March 31, 2023 Consolidated Statement of Earnings $ 24,072  $ 21,992  $ (44) $ 147  Pre-tax gains (losses) on: Foreign Currency Contracts $ (11) $ 95  $ (16) $ —  Commodity Contracts —  440  —  —  Debt Conversion Option —  —  —  5  Total gain (loss) recognized in earnings $ (11) $ 535  $ (16) $ 5  $ 513  The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2024 and December 31, 2023.   March 31, 2024 December 31, 2023   Assets Liabilities Assets Liabilities   (In millions) Commodity Contracts $ 11  $ —  $ 16  $ —  Foreign Currency Contracts 42  —  —  22  Total $ 53  $ —  $ 16  $ 22  The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statements of earnings for the three months ended March 31, 2024 and 2023. Cost of products sold (In millions) Three Months Ended March 31, 2024 Consolidated Statement of Earnings $ 20,188  Effective amounts recognized in earnings   Pre-tax gains (losses) on: Commodity Contracts $ 19  Total gain (loss) recognized in earnings $ 19  $ 19  Three Months Ended March 31, 2023 Consolidated Statement of Earnings $ 21,992  Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ (104) Total gain (loss) recognized in earnings $ (104) $ (104)

v3.24.3

Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Other Assets [Abstract]
Other Current Assets	The following table sets forth the items in other current assets: March 31, December 31, 2024 2023   (In millions) Unrealized gains on derivative contracts $ 1,549  $ 1,546  Margin deposits and grain accounts 585  560  Customer omnibus receivable 1,131  1,052  Financing receivables - net (1) 178  237  Insurance premiums receivable 48  61  Prepaid expenses 412  445  Biodiesel tax credit 77  119  Tax receivables 479  491  Non-trade receivables 376  304  Other current assets 148  167    $ 4,983  $ 4,982  (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 $6 million at March 31, 2024 and December 31, 2023. Interest earned on financing receivables of $5 million and $6 million for the three months ended March 31, 2024 and 2023, respectively, is included in interest and investment income in the consolidated statements of earnings.

v3.24.3

Accrued Expenses And Other Payables (Tables)	3 Months Ended
	Mar. 31, 2024
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses And Other Payables	The following table sets forth the items in accrued expenses and other payables: March 31, December 31, 2024 2023   (In millions) Unrealized losses on derivative contracts $ 977  $ 1,101  Accrued compensation 327  439  Income tax payable 312  284  Other taxes payable 196  172  Insurance claims payable 84  73  Contract liability 508  626  Other accruals and payables 1,518  1,381    $ 3,922  $ 4,076

v3.24.3

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following tables set forth the changes in AOCI by component for the three months ended March 31, 2024 and the reclassifications out of AOCI for the three months ended March 31, 2024 and 2023: Three months ended March 31, 2024   Foreign Currency Translation Adjustment Deferred Gain (Loss) on Hedging Activities Pension Liability Adjustment Unrealized Gain (Loss) on Investments Total   (In millions) Balance at December 31, 2023 $ (2,539) $ 158  $ (108) $ 2  $ (2,487) Other comprehensive income (loss) before reclassifications (77) (50) (2) (7) (136) Gain (loss) on net investment hedges 84  —  —  —  84  Amounts reclassified from AOCI —  (19) (2) —  (21) Tax effect (20) 10  1  (1) (10) Net of tax amount (13) (59) (3) (8) (83) Balance at March 31, 2024 $ (2,552) $ 99  $ (111) $ (6) $ (2,570)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount reclassified from AOCI Three months ended March 31, Affected line item in the consolidated statements of earnings Details about AOCI components 2024 2023 (In millions) Deferred loss (gain) on hedging activities (19) 104  Cost of products sold (19) 104  Total before tax 4  (18) Tax $ (15) $ 86  Net of tax Pension liability adjustment Amortization of defined benefit pension items: Prior service loss (credit) $ (5) $ (11) Other (income) expense-net Actuarial losses 3  (20) Other (income) expense-net (2) (31) Total before tax 1  (12) Tax $ (1) $ (43) Net of tax

v3.24.3

Other (Income) Expense - Net (Tables)	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
Other (Income) Expense - Net	The following table sets forth the items in other (income) expense: Three Months Ended March 31,   2024 2023   (In millions) Gains on sale of assets $ (2) $ (11) Other – net (24) (33) Other (Income) Expense – Net $ (26) $ (44)

v3.24.3

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	Impact of the Restatement on the Ag Services and Oilseeds Segment Three Months Ended March 31, (In millions) 2024 (Restated) 2023 (Restated) Intersegment revenues, as originally reported $ 609  $ 1,335  Intersegment pricing adjustments —  1  Intersegment classification adjustments —  (595) Intersegment revenues, as previously reported 609  741  Additional intersegment classification adjustments (183) (211) Intersegment revenues, as restated $ 426  $ 530  Segment operating profit, as originally reported $ 864  $ 1,210  Intersegment pricing adjustments —  1  Segment operating profit, as restated $ 864  $ 1,211  Impact of the Restatement on the Carbohydrate Solutions Segment Three Months Ended March 31, (In millions) 2024 (Restated) 2023 (Restated) Intersegment revenues, as originally reported $ 279  $ 729  Intersegment pricing adjustments —  6  Intersegment classification adjustments —  (230) Intersegment revenues, as previously reported 279  505  Additional intersegment classification adjustments (71) (235) Intersegment revenues, as restated $ 208  $ 270  Segment operating profit, as originally reported $ 248  $ 273  Intersegment pricing adjustments —  6  Segment operating profit, as restated $ 248  $ 279  Impact of the Restatement on the Nutrition Segment Three Months Ended March 31, (In millions) 2024 (Restated) 2023 (Restated) Intersegment revenues, as originally reported $ 6  $ 91  Intersegment pricing adjustments —  —  Intersegment classification adjustments —  (55) Intersegment revenues, as previously reported 6  36  Additional intersegment classification adjustments 7  (24) Intersegment revenues, as restated $ 13  $ 12  Segment operating profit, as originally reported $ 84  $ 145  Intersegment pricing adjustments —  (7) Segment operating profit, as restated $ 84  $ 138  For more information about the Company’s business segments, refer to Note 17 of “Notes to Consolidated Financial Statements” included in Item 8, “Financial Statements and Supplementary Data” included in the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2023. Segment Information for the Three Months ended March 31, 2024 and 2023 Three Months Ended March 31, (In millions) 2024 2023 Revenues from external customers     Ag Services and Oilseeds Ag Services $ 11,197  $ 11,695  Crushing 3,327  3,683  Refined Products and Other 2,695  3,201  Total Ag Services and Oilseeds 17,219  18,579  Carbohydrate Solutions Starches and Sweeteners 2,156  2,737  Vantage Corn Processors 527  800  Total Carbohydrate Solutions 2,683  3,537  Nutrition Human Nutrition 964  936  Animal Nutrition 872  917  Total Nutrition 1,836  1,853  Total segment revenues from external customers 21,738  23,969  Other Business 109  103  Total revenues from external customers $ 21,847  $ 24,072  Intersegment revenues, as restated Ag Services and Oilseeds $ 426  $ 530  Carbohydrate Solutions 208  270  Nutrition 13  12  Total intersegment revenues, as restated $ 647  $ 812  Segment operating profit, as restated Ag Services and Oilseeds $ 864  $ 1,211  Carbohydrate Solutions 248  279  Nutrition 84  138  Total segment operating profit, as restated 1,196  1,628  Other Business earnings (loss) 121  97     Corporate (426) (322) Specified items: Gains on sale of assets(1) —  1  Impairment and restructuring charges(2) (6) (7) Earnings before income taxes $ 885  $ 1,397  (1) Prior quarter gains were related to the sale of certain assets. (2) Current and prior quarter charges were related to the impairment of certain long-lived assets and restructuring.

v3.24.3

Supplier Finance Programs (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Supplier Finance Program	Changes to the outstanding payment obligations are as follows: March 31, 2024 (In millions) Beginning, January 1, 2024 $ 274  Obligations confirmed 257  Obligations paid (256) Ending, March 31, 2024 $ 275

v3.24.3

Basis of Presentation and Restatement of Previously Filed Consolidated Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity Securities, FV-NI and without Readily Determinable Fair Value	$ 421		$ 438
Inventory, Raw Materials and Supplies, Net of Reserves	1,880		1,944
Inventory, Finished Goods, Net of Reserves	3,047		3,026
Inventories at market	6,707		6,987
Inventories	11,634		11,957
Accounts Receivable, Allowance for Credit Loss	216	$ 182	$ 215	$ 199
Accounts Receivable, Credit Loss Expense (Reversal)	5	4
Accounts Receivable, Allowance for Credit Loss, Recovery	8	1
Accounts Receivable, Allowance for Credit Loss, Writeoff	(13)	(24)
Accounts Receivable, Allowance for Credit Loss, Foreign Currency	1	1
Accounts Receivable, Allowance for Credit Loss, Other Adjustments	0	1
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount	115
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Cumulative Amount	94
Equity Securities, FV-NI, Unrealized Gain (Loss)		$ 0
Equity Securities, FV-NI, Unrealized Loss	18
Equity Securities, FV-NI, Unrealized Gain	$ 2

v3.24.3

Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 21,847	$ 24,072
Revenues	21,847	24,072
Contract with Customer, Liability [Abstract]
Contract with Customer, Liability	508		$ 626
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized	235
Operating Segments [Member]
Revenue from Contract with Customer [Abstract]
Revenues	21,738	23,969
Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	17,219	18,579
Revenues	17,219	18,579
Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	11,197	11,695
Revenues	11,197	11,695
Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,327	3,683
Revenues	3,327	3,683
Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,695	3,201
Revenues	2,695	3,201
Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,683	3,537
Revenues	2,683	3,537
Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,156	2,737
Revenues	2,156	2,737
VCP [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	527	800
Revenues	527	800
Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,836	1,853
Revenues	1,836	1,853
Human Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	964	936
Revenues	964	936
Animal Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	872	917
Revenues	872	917
Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	109	103
Other [Member] | Operating Segments [Member]
Revenue from Contract with Customer [Abstract]
Revenues	109	103
Non MTM Products and Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	5,945	6,852
Non MTM Products and Services [Member] | Operating Segments [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	5,836	6,749
Non MTM Products and Services [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	5,752	6,674
Non MTM Products and Services [Member] | Transferred at Point in Time [Member] | Operating Segments [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	5,643	6,571
Non MTM Products and Services [Member] | Transferred over Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	193	178
Non MTM Products and Services [Member] | Transferred over Time [Member] | Operating Segments [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	193	178
Non MTM Products and Services [Member] | Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,880	2,012
Non MTM Products and Services [Member] | Ag Services and Oilseeds [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,687	1,834
Non MTM Products and Services [Member] | Ag Services and Oilseeds [Member] | Transferred over Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	193	178
Non MTM Products and Services [Member] | Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,215	1,195
Non MTM Products and Services [Member] | Ag Services [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,022	1,017
Non MTM Products and Services [Member] | Ag Services [Member] | Transferred over Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	193	178
Non MTM Products and Services [Member] | Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	117	191
Non MTM Products and Services [Member] | Crushing [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	117	191
Non MTM Products and Services [Member] | Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	548	626
Non MTM Products and Services [Member] | Refined Products and Other [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	548	626
Non MTM Products and Services [Member] | Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,120	2,884
Non MTM Products and Services [Member] | Carbohydrate Solutions [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,120	2,884
Non MTM Products and Services [Member] | Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,593	2,084
Non MTM Products and Services [Member] | Starches and sweeteners [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,593	2,084
Non MTM Products and Services [Member] | VCP [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	527	800
Non MTM Products and Services [Member] | VCP [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	527	800
Non MTM Products and Services [Member] | Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,836	1,853
Non MTM Products and Services [Member] | Nutrition [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,836	1,853
Non MTM Products and Services [Member] | Human Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	964	936
Non MTM Products and Services [Member] | Human Nutrition [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	964	936
Non MTM Products and Services [Member] | Animal Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	872	917
Non MTM Products and Services [Member] | Animal Nutrition [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	872	917
Non MTM Products and Services [Member] | Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	109	103
Non MTM Products and Services [Member] | Other [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	109	103
Mark-to-Market Products [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	15,902	17,220
Mark-to-Market Products [Member] | Operating Segments [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	15,902	17,220
Mark-to-Market Products [Member] | Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	15,339	16,567
Mark-to-Market Products [Member] | Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	9,982	10,500
Mark-to-Market Products [Member] | Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,210	3,492
Mark-to-Market Products [Member] | Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,147	2,575
Mark-to-Market Products [Member] | Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	563	653
Mark-to-Market Products [Member] | Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 563	$ 653

v3.24.3

Acquisitions (Narrative) (Details)	3 Months Ended
	Mar. 31, 2024 USD ($)
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 924,000,000
Cash Acquired from Acquisition	9,000,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount	0
Goodwill, Acquired During Period	$ 553,000,000

v3.24.3

Acquisitions Other Intangible Assets (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 263
Revela
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	166
FDL
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	97
PT
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	0
Trademarks and Trade Names [Member]
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 4
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years
Trademarks and Trade Names [Member] | Revela
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 0
Trademarks and Trade Names [Member] | FDL
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	4
Customer Lists [Member]
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	197
Customer Lists [Member] | Revela
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	124
Customer Lists [Member] | FDL
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	73
Recipes
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	62
Recipes | Revela
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	42
Recipes | FDL
Schedule of Other Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 20
Minimum [Member] | Customer Lists [Member]
Schedule of Other Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Minimum [Member] | Recipes
Schedule of Other Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Maximum [Member] | Customer Lists [Member]
Schedule of Other Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	18 years
Maximum [Member] | Recipes
Schedule of Other Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	21 years

v3.24.3

Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Business Acquisition [Line Items]
Business Acquisition, Purchase Price Allocation, Working Capital	$ 55
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment	76
Goodwill, Acquired During Period	553
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	263
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	29
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities	(61)
Payments to Acquire Businesses, Net of Cash Acquired	915	$ 0
Revela
Business Acquisition [Line Items]
Business Acquisition, Purchase Price Allocation, Working Capital	50
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment	38
Goodwill, Acquired During Period	403
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	166
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	28
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities	(35)
Payments to Acquire Businesses, Net of Cash Acquired	650
FDL
Business Acquisition [Line Items]
Business Acquisition, Purchase Price Allocation, Working Capital	0
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment	33
Goodwill, Acquired During Period	145
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	97
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities	(26)
Payments to Acquire Businesses, Net of Cash Acquired	250
PT
Business Acquisition [Line Items]
Business Acquisition, Purchase Price Allocation, Working Capital	5
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment	5
Goodwill, Acquired During Period	5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities	0
Payments to Acquire Businesses, Net of Cash Acquired	$ 15

v3.24.3

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Fair Value Measurements [Line Items]
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ (338)	$ (248)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 564	$ 632
Weighted Average [Member] | Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Inventory Related Payables [Member]
Fair Value Measurements [Line Items]
Basis	25.90%		33.20%
Weighted Average [Member] | Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Inventories Carried At Market [Member]
Fair Value Measurements [Line Items]
Basis	28.20%		25.00%

v3.24.3

Fair Value Measurements (Fair Value Measurements At Reporting Date) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets:
Derivative Asset	$ 1,549	$ 1,546
Liabilities:
Derivative Liability	977	1,101
Fair Value, Recurring [Member]
Assets:
Inventories carried at market	6,707	6,987
Cash Equivalents, at Carrying Value	206	209
Restricted Investments, at Fair Value	1,663	1,362
Total Assets	10,125	10,104
Liabilities:
Inventory-related payables	1,990	1,320
Total Liabilities	2,967	2,421
Fair Value, Recurring [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	1,362	1,359
Liabilities:
Derivative Liability	883	957
Fair Value, Recurring [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	187	187
Liabilities:
Derivative Liability	94	144
Fair Value, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Assets:
Inventories carried at market	0	0
Cash Equivalents, at Carrying Value	206	209
Restricted Investments, at Fair Value	1,663	1,362
Total Assets	1,869	1,571
Liabilities:
Inventory-related payables	0	0
Total Liabilities	0	0
Fair Value, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Inventories carried at market	3,759	4,274
Cash Equivalents, at Carrying Value	0	0
Restricted Investments, at Fair Value	0	0
Total Assets	4,544	5,089
Liabilities:
Inventory-related payables	1,928	1,219
Total Liabilities	2,470	1,863
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	598	628
Liabilities:
Derivative Liability	448	500
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	187	187
Liabilities:
Derivative Liability	94	144
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Inventories carried at market	2,948	2,713
Cash Equivalents, at Carrying Value	0	0
Restricted Investments, at Fair Value	0	0
Total Assets	3,712	3,444
Liabilities:
Inventory-related payables	62	101
Total Liabilities	497	558
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	764	731
Liabilities:
Derivative Liability	435	457
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	$ 0	$ 0

v3.24.3

Fair Value Measurements (Reconciliation Of Assets Measured At Fair Value On A Recurring Basis) (Details) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 3,444	$ 3,301
Total increase (decrease) in unrealized gains included in cost of products sold	278	479
Purchases	3,789	8,665
Sales	(3,883)	(8,254)
Settlements	(352)	(382)
Transfers into Level 3	544	655
Transfers out of Level 3	(108)	(312)
Balance at end of period	3,712	4,152
Inventories Carried At Market [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	2,713	2,760
Total increase (decrease) in unrealized gains included in cost of products sold	(97)	2
Purchases	3,789	8,665
Sales	(3,883)	(8,254)
Settlements	0	0
Transfers into Level 3	516	605
Transfers out of Level 3	(90)	(275)
Balance at end of period	2,948	3,503
Commodity Derivative Contracts Gains [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	731	541
Total increase (decrease) in unrealized gains included in cost of products sold	375	477
Purchases	0	0
Sales	0	0
Settlements	(352)	(382)
Transfers into Level 3	28	50
Transfers out of Level 3	(18)	(37)
Balance at end of period	$ 764	$ 649

v3.24.3

Fair Value Measurements (Reconciliation Of Liabilities Measured At Fair Value On A Recurring Basis) (Details) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 558	$ 698
Total increase (decrease) in unrealized losses included in cost of products sold	326	236
Purchases	1	2
Sales	(38)
Settlements	(290)	(455)
Transfers into Level 3	14	39
Transfers out of Level 3	(74)	(7)
Balance at end of period	497	513
Long-term Debt [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period		6
Total increase (decrease) in unrealized losses included in cost of products sold		(5)
Purchases		0
Balance at end of period		1
Inventory Related Payables [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	101	89
Total increase (decrease) in unrealized losses included in cost of products sold	(3)	(2)
Purchases	1	2
Sales	(38)
Settlements	0	(31)
Transfers into Level 3	1	0
Transfers out of Level 3	0	(1)
Balance at end of period	62	57
Commodity Derivative Contracts Losses [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	457	603
Total increase (decrease) in unrealized losses included in cost of products sold	329	243
Purchases	0	0
Sales	0
Settlements	(290)	(424)
Transfers into Level 3	13	39
Transfers out of Level 3	(74)	(6)
Balance at end of period	$ 435	$ 455

v3.24.3

Fair Value Measurements (Unobservable Inputs In Level 3 Valuations Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - Weighted Average [Member] - Significant Unobservable Inputs (Level 3) [Member] - Fair Value, Recurring [Member]	Mar. 31, 2024	Dec. 31, 2023
Inventory Related Payables [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	25.90%	33.20%
Transportation cost	0.00%	0.00%
Commodity Derivative Contracts Losses [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	28.20%	24.90%
Transportation cost	1.50%	3.20%
Inventories Carried At Market [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	28.20%	25.00%
Transportation cost	18.60%	11.50%
Commodity Derivative Contracts Gains [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	40.10%	24.20%
Transportation cost	8.30%	9.30%

v3.24.3

Derivative Instruments and Hedging Activities (Narrative) (Details) bu in Millions, $ in Millions, € in Billions	3 Months Ended	12 Months Ended
	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 EUR (€)	Mar. 31, 2024 USD ($) bu	Dec. 31, 2023 USD ($)
Derivative [Line Items]
Corn processed per month (in bushels) | bu			59
Notional Amount of Nonderivative Instruments | €	€ 0.7	€ 0.7
Foreign Debt used in Net Investment Hedge, Net of Tax			$ 224	$ 212
Financing Receivable, Allowance for Credit Loss			6	6
Designated As Hedging Instrument [Member]
Derivative [Line Items]
Unrealized Gain (Loss) on Price Risk Cash Flow Hedges, after Tax, Accumulated Other Comprehensive Income			9	(42)
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months			$ 9
Corn [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Derivative Hedged Item Time Period	12 months
Corn [Member] | Minimum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)			12.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)			0.00%
Corn [Member] | Maximum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)			34.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)			29.00%
Soybean [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Derivative Hedged Item Time Period	12 months
Soybean [Member] | Minimum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)			77.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)			3.00%
Soybean [Member] | Maximum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)			100.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)			100.00%
Natural Gas | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Derivative Hedged Item Time Period	12 months
Natural Gas | Minimum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)			39.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)			34.00%
Natural Gas | Maximum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)			80.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)			70.00%
Net Investment Hedging [Member]
Derivative [Line Items]
Derivatives used in Net Investment Hedge, Net of Tax			$ (46)	5
Net Investment Hedging [Member] | Currency Swap [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount			800	800
Net Investment Hedging [Member] | Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount			$ 2,100	$ 2,100

v3.24.3

Derivative Instruments and Hedging Activities (Fair Value Of Derivatives Not Designated As Hedging Instruments) (Details) - Not Designated As Hedging Instrument [Member] - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
FX Contracts Assets	$ 145	$ 187
Commodity Contracts Assets	1,351	1,343
Total fair value of derivative assets not designated as hedging instruments	1,496	1,530
FX Contracts Liabilities	94	122
Commodity Contracts Liabilities	883	957
Total fair value of derivative liabilities not designated as hedging instruments.	$ 977	$ 1,079

v3.24.3

Derivative Instruments and Hedging Activities (Pre-Tax Gains (Losses) On Derivatives Not Designated As Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative [Line Items]
Revenues	$ 21,847	$ 24,072
Cost of Products Sold	20,188	21,992
Other (Income) Expense - Net	(26)	(44)
Interest Expense	166	147
Total gain (loss) recognized in earnings	189	513
Revenues [Member]
Derivative [Line Items]
FX Contracts	1	(11)
Total gain (loss) recognized in earnings	1	(11)
Cost of Products Sold [Member]
Derivative [Line Items]
FX Contracts	(63)	95
Commodity Contracts	197	440
Total gain (loss) recognized in earnings	134	535
Interest Expense [Member]
Derivative [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		5
Total gain (loss) recognized in earnings	0	5
Other (Income) Expense - Net [Member]
Derivative [Line Items]
FX Contracts	54	(16)
Commodity Contracts	0	0
Total gain (loss) recognized in earnings	$ 54	$ (16)

v3.24.3

Derivative Instruments and Hedging Activities (Fair Value Of Derivatives Designated As Hedging Instruments) (Details) - Designated As Hedging Instrument [Member] - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Price Risk Cash Flow Hedge Asset, at Fair Value	$ 11	$ 16
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value	42	0
Derivative Instruments in Hedges, Assets, at Fair Value	53	16
Price Risk Fair Value Hedge Liability, at Fair Value	0	0
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	0	22
Derivative Instruments in Hedges, Liabilities, at Fair Value	$ 0	$ 22

v3.24.3

Derivative Instruments and Hedging Activities (Pre-Tax Gains (Losses) On Derivatives Designated As Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments, Gains (Loss) [Line Items]
Revenues	$ 21,847	$ 24,072
Cost of Products Sold	20,188	21,992
Interest Expense	166	147
Other (Income) Expense - Net	(26)	(44)
Designated As Hedging Instrument [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Gain (Loss) on Hedging Activity	19	(104)
Designated As Hedging Instrument [Member] | Cost of Products Sold [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Gain (Loss) on Hedging Activity	19	(104)
Commodity Contracts effective amount recognized in earnings	$ 19	$ (104)

v3.24.3

Other Current Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Other Assets [Abstract]
Derivative Asset	$ 1,549		$ 1,546
Margin Deposit Assets	585		560
Receivables from Customers	1,131		1,052
Financing Receivable, after Allowance for Credit Loss	178		237
Premiums Receivable, Net	48		61
Prepaid Expense, Current	412		445
Biodiesel tax credit	77		119
Tax receivables	479		491
Other Receivables	376		304
Other current assets	148		167
Total other current assets	4,983		4,982
Financing Receivable, Allowance for Credit Loss	6		$ 6
Interest on financing receivables	$ 5	$ 6

v3.24.3

Accrued Expenses And Other Payables (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Accrued Liabilities and Other Liabilities [Abstract]
Derivative Liability	$ 977	$ 1,101
Employee-related Liabilities	327	439
Accrued Income Taxes, Current	312	284
Accrual for Taxes Other than Income Taxes, Current	196	172
Liability for Claims and Claims Adjustment Expense	84	73
Contract with Customer, Liability	508	626
Accrued expenses and other payables	1,518	1,381
Total accrued expenses and other payables	$ 3,922	$ 4,076
Accrued Expenses And Other Payables	Accrued Expenses and Other Payables The following table sets forth the items in accrued expenses and other payables: March 31, December 31, 2024 2023   (In millions) Unrealized losses on derivative contracts $ 977  $ 1,101  Accrued compensation 327  439  Income tax payable 312  284  Other taxes payable 196  172  Insurance claims payable 84  73  Contract liability 508  626  Other accruals and payables 1,518  1,381    $ 3,922  $ 4,076

v3.24.3

Debt And Financing Arrangements (Narrative) (Details) $ in Millions, € in Billions	3 Months Ended	12 Months Ended
	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 EUR (€)	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Notional Amount of Nonderivative Instruments | €	€ 0.7	€ 0.7
Fair Value of Debt Below Carrying Value			$ 300
Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			12,800
Unused lines of credit			8,800
Commercial Paper [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			5,000
Commercial Paper			900
Accounts Receivable Securitization Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			3,000
Unused lines of credit			$ 700

v3.24.3

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Contingency [Line Items]
Effective income tax rate	18.80%	16.10%
Tax and Customs Administration, Netherlands [Member]
Income Tax Contingency [Line Items]
Income tax assessment	$ 88
Additional income tax assessment - Interest and Penalties	$ 34

v3.24.3

Shareholders' Equity Share Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accelerated Share Repurchases [Line Items]
Stock Repurchased During Period, Value	$ 868	$ 351
Total Share Repurchase Program
Accelerated Share Repurchases [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	200,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	38,500,000
Stock Repurchase Program Expiration Date	Dec. 31, 2024
ASR $1.0 billion
Accelerated Share Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount	$ 1,000
Shares Acquired, Average Cost Per Share	$ 60.596
Stock Repurchased During Period, Value	$ 538
Stock Repurchased During Period, Shares	8,880,986

v3.24.3

Shareholders' Equity AOCI (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	$ (2,487)
Other comprehensive income (loss) before reclassifications	(136)
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	84
Amounts reclassified from AOCI	(21)
Other comprehensive income (loss), tax, portion attributable to parent	(10)
Other Comprehensive Income (Loss), Net of Tax	(83)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(2,570)
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(2,539)
Other comprehensive income (loss) before reclassifications	(77)
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	84
Amounts reclassified from AOCI	0
Other comprehensive income (loss), tax, portion attributable to parent	(20)
Other Comprehensive Income (Loss), Net of Tax	(13)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(2,552)
Deferred Gain (Loss) On Hedging Activities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	158
Other comprehensive income (loss) before reclassifications	(50)
Amounts reclassified from AOCI	(19)
Other comprehensive income (loss), tax, portion attributable to parent	10
Other Comprehensive Income (Loss), Net of Tax	(59)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	99
Pension Liability Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(108)
Other comprehensive income (loss) before reclassifications	(2)
Amounts reclassified from AOCI	(2)
Other comprehensive income (loss), tax, portion attributable to parent	1
Other Comprehensive Income (Loss), Net of Tax	(3)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(111)
Unrealized Gain (Loss) On Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	2
Other comprehensive income (loss) before reclassifications	(7)
Amounts reclassified from AOCI	0
Other comprehensive income (loss), tax, portion attributable to parent	(1)
Other Comprehensive Income (Loss), Net of Tax	(8)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	$ (6)

v3.24.3

Shareholders' Equity Reclassification (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Earnings Before Income Taxes	$ (885)	$ (1,397)
Income taxes	(166)	(225)
Net Earnings Including Noncontrolling Interests	(719)	(1,172)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Deferred (Gain) Loss On Hedging Activities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Earnings Before Income Taxes	(19)	104
Income taxes	(4)	18
Net Earnings Including Noncontrolling Interests	(15)	86
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Liability Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Earnings Before Income Taxes	(2)	(31)
Income taxes	(1)	12
Net Earnings Including Noncontrolling Interests	(1)	(43)
Cost of Products Sold [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Deferred (Gain) Loss On Hedging Activities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(19)	104
Other (Income) Expense - Net [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Liability Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Prior Service Cost (Credit)	(5)	(11)
Actuarial Losses	$ 3	$ (20)

v3.24.3

Other (Income) Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Gain (Loss) on Sale and Revaluation of Assets	$ 2	$ 11
Other - net	24	33
Other (Income) Expense - Net	(26)	(44)
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	$ (5)	$ (4)

v3.24.3

Segment Information (Narrative) (Details)	3 Months Ended
	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	3

v3.24.3

Segment Information (Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Information
Revenues	$ 21,847	$ 24,072
Earnings Before Income Taxes	885	1,397
Restructuring, Settlement and Impairment Provisions	(18)	(7)
Ag Services and Oilseeds [Member]
Segment Information
Revenues	17,219	18,579
Ag Services [Member]
Segment Information
Revenues	11,197	11,695
Crushing [Member]
Segment Information
Revenues	3,327	3,683
Refined Products and Other [Member]
Segment Information
Revenues	2,695	3,201
Carbohydrate Solutions [Member]
Segment Information
Revenues	2,683	3,537
Starches and sweeteners [Member]
Segment Information
Revenues	2,156	2,737
VCP [Member]
Segment Information
Revenues	527	800
Nutrition [Member]
Segment Information
Revenues	1,836	1,853
Human Nutrition [Member]
Segment Information
Revenues	964	936
Animal Nutrition [Member]
Segment Information
Revenues	872	917
Operating Segments [Member]
Segment Information
Revenues	21,738	23,969
Earnings Before Income Taxes	1,196	1,628
Operating Segments [Member] | Ag Services and Oilseeds [Member]
Segment Information
Earnings Before Income Taxes	864	1,211
Operating Segments [Member] | Ag Services and Oilseeds [Member] | Previously Reported
Segment Information
Earnings Before Income Taxes	864	1,210
Operating Segments [Member] | Ag Services and Oilseeds [Member] | Intersegment pricing adjustments
Segment Information
Earnings Before Income Taxes	0	1
Operating Segments [Member] | Carbohydrate Solutions [Member]
Segment Information
Earnings Before Income Taxes	248	279
Operating Segments [Member] | Carbohydrate Solutions [Member] | Previously Reported
Segment Information
Earnings Before Income Taxes	248	273
Operating Segments [Member] | Carbohydrate Solutions [Member] | Intersegment pricing adjustments
Segment Information
Earnings Before Income Taxes	0	6
Operating Segments [Member] | Nutrition [Member]
Segment Information
Earnings Before Income Taxes	84	138
Operating Segments [Member] | Nutrition [Member] | Previously Reported
Segment Information
Earnings Before Income Taxes	84	145
Operating Segments [Member] | Nutrition [Member] | Intersegment pricing adjustments
Segment Information
Earnings Before Income Taxes	0	(7)
Operating Segments [Member] | Other [Member]
Segment Information
Revenues	109	103
Earnings Before Income Taxes	121	97
Intersegment Elimination [Member]
Segment Information
Revenues	647	812
Intersegment Elimination [Member] | Ag Services and Oilseeds [Member]
Segment Information
Revenues	426	530
Intersegment Elimination [Member] | Ag Services and Oilseeds [Member] | Previously Reported
Segment Information
Revenues	609	1,335
Intersegment Elimination [Member] | Ag Services and Oilseeds [Member] | Intersegment pricing adjustments
Segment Information
Revenues	0	1
Intersegment Elimination [Member] | Ag Services and Oilseeds [Member] | Intersegment classification adjustments
Segment Information
Revenues	0	(595)
Intersegment Elimination [Member] | Ag Services and Oilseeds [Member] | Intersegment revenues, as previously reported
Segment Information
Revenues	609	741
Intersegment Elimination [Member] | Ag Services and Oilseeds [Member] | Additional intersegment classification adjustments
Segment Information
Revenues	(183)	(211)
Intersegment Elimination [Member] | Carbohydrate Solutions [Member]
Segment Information
Revenues	208	270
Intersegment Elimination [Member] | Carbohydrate Solutions [Member] | Previously Reported
Segment Information
Revenues	279	729
Intersegment Elimination [Member] | Carbohydrate Solutions [Member] | Intersegment pricing adjustments
Segment Information
Revenues	0	6
Intersegment Elimination [Member] | Carbohydrate Solutions [Member] | Intersegment classification adjustments
Segment Information
Revenues	0	(230)
Intersegment Elimination [Member] | Carbohydrate Solutions [Member] | Intersegment revenues, as previously reported
Segment Information
Revenues	279	505
Intersegment Elimination [Member] | Carbohydrate Solutions [Member] | Additional intersegment classification adjustments
Segment Information
Revenues	(71)	(235)
Intersegment Elimination [Member] | Nutrition [Member]
Segment Information
Revenues	13	12
Intersegment Elimination [Member] | Nutrition [Member] | Previously Reported
Segment Information
Revenues	6	91
Intersegment Elimination [Member] | Nutrition [Member] | Intersegment pricing adjustments
Segment Information
Revenues	0	0
Intersegment Elimination [Member] | Nutrition [Member] | Intersegment classification adjustments
Segment Information
Revenues	0	(55)
Intersegment Elimination [Member] | Nutrition [Member] | Intersegment revenues, as previously reported
Segment Information
Revenues	6	36
Intersegment Elimination [Member] | Nutrition [Member] | Additional intersegment classification adjustments
Segment Information
Revenues	7	(24)
Segment Reconciling Items [Member]
Segment Information
Gain (Loss) on Disposition of Other Assets	0	1
Restructuring, Settlement and Impairment Provisions	(6)	(7)
Corporate, Non-Segment [Member]
Segment Information
Earnings Before Income Taxes	$ (426)	$ (322)

v3.24.3

Asset Impairment, Exit, and Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Asset Impairment Charges And Exit Costs [Line Items]
Asset Impairment Charges	$ 3	$ 3
Restructuring Charges	3	$ 4
Corporate, Non-Segment [Member]
Asset Impairment Charges And Exit Costs [Line Items]
Restructuring Charges	$ 12

v3.24.3

Sale of Accounts Receivable (Narrative) (Details) $ in Millions, € in Billions	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Transfer of Financial Assets Accounted for as Sales, Fair Value of Derecognized Assets	$ 2,300			$ 1,600
Proceeds from Sale of Other Receivables	11,800	$ 14,800
Loss on transfer of accounts receivables to purchasers	27	23
Amount of receivables sold	12,300	$ 15,100
Accounts Receivable, after Allowance for Credit Loss, Current	4,178			4,232
Asset Pledged as Collateral without Right
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	700			$ 1,100
Accounts Receivable Securitization Facility [Member]
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	3,000
First Purchasers [Member] | Accounts Receivable Securitization Facility [Member]
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	1,900
Second Purchasers [Member] | Accounts Receivable Securitization Facility [Member]
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,100		€ 1.0

v3.24.3

Supplier Finance Programs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Supplier Finance Program, Obligation	$ 275	$ 274
Supplier Finance Program, Obligation, Addition	257
Supplier Finance Program, Obligation, Settlement	$ (256)

v3.24.3

Legal Proceedings (Details) - AOT and Maize $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 500
Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 2,000

v3.24.3

Subsequent Events Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Apr. 15, 2024	Mar. 31, 2024	Mar. 31, 2023
Subsequent Event [Line Items]
Stock Repurchased During Period, Value		$ 868	$ 351
ASR $1.0 billion
Subsequent Event [Line Items]
Stock Repurchased During Period, Shares		8,880,986
Stock Repurchased During Period, Value		$ 538
Shares Acquired, Average Cost Per Share		$ 60.596
Subsequent Event [Member] | ASR $1.0 billion
Subsequent Event [Line Items]
Stock Repurchased During Period, Shares	7,325,733
Stock Repurchased During Period, Value	$ 462
Shares Acquired, Average Cost Per Share	$ 63.065

---