Archer-Daniels-Midland Co Goodwill & Intangibles Disclosure
Ag Services & Oilseeds | Carbohydrate Solutions | Nutrition | Other Business | Total | |||||||||||||||||||||||||
| Balance at December 31, 2023 | $ | 235 | $ | 224 | $ | 3,640 | $ | 4 | $ | 4,103 | |||||||||||||||||||
Acquisitions | — | — | 557 | — | $ | 557 | |||||||||||||||||||||||
Currency translation adjustments and other | (17) | (8) | (127) | 1 | $ | (151) | |||||||||||||||||||||||
| Balance at December 31, 2024 | 218 | 216 | 4,070 | 5 | 4,509 | ||||||||||||||||||||||||
Acquisitions | 19 | 7 | 10 | — | $ | 36 | |||||||||||||||||||||||
Currency translation adjustments and other | 13 | 15 | 197 | (1) | $ | 224 | |||||||||||||||||||||||
| Balance at December 31, 2025 | $ | 250 | $ | 238 | $ | 4,277 | $ | 4 | $ | 4,769 | |||||||||||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
| Useful | Gross | Accumulated | Gross | Accumulated | |||||||||||||||||||||||||||||||||||||||||||
| Life | Amount | Amortization | Net | Amount | Amortization | Net | |||||||||||||||||||||||||||||||||||||||||
| (In years) | (In millions) | ||||||||||||||||||||||||||||||||||||||||||||||
| Intangible assets with indefinite lives: | |||||||||||||||||||||||||||||||||||||||||||||||
| Trademarks/brands | $ | 315 | $ | — | $ | 315 | $ | 290 | $ | — | $ | 290 | |||||||||||||||||||||||||||||||||||
| Intangible assets with definite lives: | |||||||||||||||||||||||||||||||||||||||||||||||
| Trademarks/brands | 8 | to | 20 | 93 | (56) | 37 | 86 | (42) | 44 | ||||||||||||||||||||||||||||||||||||||
| Customer lists | 7 | to | 30 | 1,827 | (850) | 977 | 1,687 | (708) | 979 | ||||||||||||||||||||||||||||||||||||||
| Capitalized software and related costs | 3 | to | 5 | 985 | (694) | 291 | 964 | (612) | 352 | ||||||||||||||||||||||||||||||||||||||
| Land rights | 20 | to | 65 | 97 | (34) | 63 | 89 | (27) | 62 | ||||||||||||||||||||||||||||||||||||||
| Other intellectual property | 6 | to | 15 | 196 | (165) | 31 | 187 | (142) | 45 | ||||||||||||||||||||||||||||||||||||||
| Recipes and other | 1 | to | 35 | 568 | (371) | 197 | 620 | (339) | 281 | ||||||||||||||||||||||||||||||||||||||
| Intangible assets in process | 65 | — | 65 | 207 | — | 207 | |||||||||||||||||||||||||||||||||||||||||
| Total | $ | 4,146 | $ | (2,170) | $ | 1,976 | $ | 4,130 | $ | (1,870) | $ | 2,260 | |||||||||||||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 17, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Mar 12, 2024 | |
| 2022 | Feb 14, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 18, 2021 | |
| 2019 | Feb 18, 2020 | |
| 2018 | Feb 19, 2019 | |
| 2017 | Feb 16, 2018 | |
| 2016 | Feb 17, 2017 | |
| 2015 | Feb 19, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.