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Revenue Recognition
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of revenue
We disaggregate revenue from contracts with customers by geographical areas and major product categories. We have three major agricultural product categories: insecticides, herbicides, and fungicides. Plant health, which includes biological products, is also included in the below table.
The following table provides information about disaggregated revenue by major geographical region:
Three Months Ended September 30,Nine Months Ended September 30,
(in Millions)2025202420252024
North America$244.4 $235.5 $751.7 $833.4 
Latin America463.1 504.1 980.3 999.3 
Europe, Middle East & Africa (EMEA)154.5 139.3 687.7 647.3 
Asia (1)
(319.8)186.5 (35.6)541.8 
Total Revenue$542.2 $1,065.4 $2,384.1 $3,021.8 
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(1)During the three months ended September 30, 2025, we took several one-time commercial actions to prepare the India commercial business for sale. These one-time actions to position the India business for sale resulted in revenue charges of $419 million for the India business in the third quarter of 2025 and included the recognition of actual inventory returns during the period, an increase to the reserve for future sales returns, and various pricing actions to assist with the acceleration of receivable collection. Refer to Note 1 for further details on the India held for sale business.
The following table provides information about disaggregated revenue by major product category:
Three Months Ended September 30,Nine Months Ended September 30,
(in Millions)2025202420252024
Insecticides$204.4 $647.9 $1,132.4 $1,718.3 
Herbicides219.9 275.6 868.1 907.1 
Fungicides89.3 84.8 222.4 229.7 
Plant Health35.2 47.3 125.3 135.6 
Other(6.6)9.8 35.9 31.1 
Total Revenue (1)
$542.2 $1,065.4 $2,384.1 $3,021.8 
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(1)Includes revenue charges of approximately $419 million driven by the one-time commercial actions to prepare the India commercial business for sale. Refer to Note 1 for further details on the India held for sale business.
We earn revenue from the sale of a wide range of products to a diversified base of customers around the world. We develop, market and sell all three major classes of crop protection chemicals (insecticides, herbicides and fungicides) as well as biologicals, crop nutrition, and seed treatment products, which we group as plant health. These products are used in agriculture to enhance crop yield and quality by controlling a broad spectrum of insects, weeds and disease. The majority of our product lines consist of insecticides and herbicides, with a smaller portfolio of fungicides mainly used in high value crop segments. We are investing in plant health which includes our growing biological products. Our insecticides are used to control a wide spectrum of pests, while our herbicide portfolio primarily targets a large variety of difficult-to-control weeds. Products in the other category include various agricultural products such as smaller classes of pesticides, growth promoters, and other miscellaneous revenue sources.
For additional detail on revenue recognition policies and procedures, see Note 3 to our consolidated financial statements included within our 2024 Form 10-K.
Contract Asset and Contract Liability Balances
We satisfy our obligations by transferring goods and services in exchange for consideration from customers. The timing of performance sometimes differs from the timing the associated consideration is received from the customer, thus resulting in the recognition of a contract asset or contract liability. We recognize a contract liability if the customer's payment of consideration is received prior to completion of our related performance obligation.
The following table presents the opening and closing balances of our receivables, net of allowances and contract liabilities from contracts with customers:
(in Millions)Balance as of September 30, 2025Balance as of December 31, 2024Increase (Decrease)
Receivables from contracts with customers, net of allowances (1)
$2,409.5 $2,942.9 $(533.4)
Contract liabilities: Advance Payments from customers (2)
— 453.8 (453.8)
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(1)Amount includes $2,330.1 million of trade receivables and $79.4 million of net long-term customer receivables as of September 30, 2025. See Note 5 for more information.
(2)The amount of revenue recognized in the nine months ended September 30, 2025 that was included in the opening contract liability balance is $453.8 million.
The balance of receivables from contracts with customers listed in the table above include both current trade receivables and long-term receivables, net of allowance for doubtful accounts. The change in allowance for doubtful accounts for both current trade receivables and long-term receivables is representative of the impairment of receivables as of September 30, 2025. Refer to Note 5 for further information.
We periodically enter into prepayment arrangements with customers and receive advance payments for product to be delivered in future periods. We recognize these prepayments as a liability under "Advance payments from customers" on the consolidated balance sheets when they are received. Revenue associated with advance payments is recognized as shipments are made and transfer of control to the customer takes place.