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Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
As of and for the Three Months Ended September 30,
(In millions)
Seed
Crop Protection
Total
2019
 

 

 

Net sales
$
681

$
1,230

$
1,911

Segment operating EBITDA
$
(295
)
$
119

$
(176
)
Segment assets1,2
$
26,021

$
13,331

$
39,352

 




 
2018
 

 

 

Net sales
$
551

$
1,396

$
1,947

Pro forma segment operating EBITDA
$
(372
)
$
159

$
(213
)
Segment assets1
$
30,300

$
9,088

$
39,388

1.
Segment assets at December 31, 2018 were $29,286 million and $9,346 million for Seed and Crop Protection, respectively.
2. On June 1, 2019, as a result of changes in reportable segments, $3,382 million of goodwill was reallocated from the Seed reportable segment to the Crop Protection reportable segment.  This change was not reflected in segment assets prior to June 1, 2019.     

Nine Months Ended September 30,
(In millions)
Seed
Crop Protection
Total
2019
 

 

 

Net sales
$
6,347

$
4,516

$
10,863

Pro forma segment operating EBITDA
$
1,066

$
789

$
1,855

 
 
 
 
2018
 

 

 

Net sales
$
6,716

$
4,756

$
11,472

Pro forma segment operating EBITDA
$
1,226

$
905

$
2,131
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]
Loss from continuing operations after income taxes to segment operating EBITDA

(In millions)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2019
2018 1
2019 1
2018 1
Loss from continuing operations after income taxes
$
(527
)
$
(5,642
)
$
(228
)
$
(5,705
)
(Benefit from) provision for income taxes on continuing operations
(104
)
(8
)
99

(187
)
Loss from continuing operations before income taxes
(631
)
(5,650
)
(129
)
(5,892
)
Depreciation and amortization
226

215

711

667

Interest income
(13
)
(12
)
(46
)
(63
)
Interest expense
19

82

112

251

Exchange (gains) losses - net 2
(22
)
74

37

140

Non-operating benefits - net
(32
)
(49
)
(106
)
(155
)
Goodwill impairment charge
—

4,503

—

4,503

Significant items
246

369

886

876

Pro forma adjustments3
—

217

298

1,695

Corporate expenses
31

38

92

109

Segment operating EBITDA
$
(176
)
$
(213
)
$
1,855

$
2,131

1.
Periods prior to March 31, 2019 are on a pro forma basis, prepared in accordance with Article 11 of Regulation S-X.
2.
Excludes a $(33) million foreign exchange loss for the three and nine months ended September 30, 2019 associated with the devaluation of the Argentine peso and a $(50) million foreign exchange loss for the nine months ended September 30, 2018 related to adjustments to foreign currency exchange contracts as a result of U.S. tax reform, as they are included within significant items. See Note 9 - Supplementary Information for additional information.
3.
Refer to page 69 for further details of pro forma adjustments.
Reconciliation of Assets from Segment to Consolidated [Table Text Block]
Segment assets to total assets (in millions)
September 30, 2019
December 31, 2018
September 30, 2018
Total segment assets
$
39,352

$
38,632

$
39,388

Corporate assets
3,883

4,417

4,020

Assets related to discontinued operations1
—

65,634

66,240

Total assets
$
43,235

$
108,683

$
109,648


1.
See Note 5 - Divestitures and Other Transactions for additional information on discontinued operations.
Schedule of Additional Segment Details [Table Text Block]

(In millions)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2019
2018
2019
2018
As Reported
Pro Forma
Pro Forma
Pro Forma
Seed 1,2,3,4
$
(62
)
$
(190
)
$
(214
)
$
(249
)
Crop Protection 5
1

(30
)
(24
)
(42
)
Corporate 6,7,8,9,10
(185
)
(149
)
(648
)
(585
)
Total
$
(246
)
$
(369
)
$
(886
)
$
(876
)
1.
Includes restructuring and asset related charges of $(47) million and $(123) million for the three and nine months ended September 30, 2019, respectively, and $(190) million and $(273) million for the three and nine months ended September 30, 2018, respectively. See Note 7 - Restructuring and Asset Related Charges - Net, for additional information.
2.
Includes a $(24) million loss recorded in other income - net for the nine months ended September 30, 2019 related to Historical Dow’s sale of a joint venture related to synergy actions.
3.
Includes charges of $(15) million and $(67) million included in cost of goods sold for the three and nine months ended September 30, 2019 related to the amortization on the inventory that was stepped up to fair value in connection with the Merger.
4.
Includes a $24 million gain recorded in other income - net for the nine months ended September 30, 2018, related to an asset sale.
5.
Includes restructuring and asset related benefits (charges) of $1 million and $(24) million for the three and nine months ended September 30, 2019, respectively, and $(30) million and $(42) million for the three and nine months ended September 30, 2018, respectively. See Note 7 - Restructuring and Asset Related Charges - Net, for additional information.
6.
Includes restructuring and asset related charges of $(20) million for the nine months ended September 30, 2019, and $(15) million and $(151) million for the three and nine months ended September 30, 2018, respectively. See Note 7 - Restructuring and Asset Related Charges - Net, for additional information.
7.
Includes integration and separation costs of $(152) million and $(582) million for the three and nine months ended September 30, 2019. Includes integration costs of $(134) million and $(384) million for the three and nine months ended September 30, 2018, respectively.
8.
Includes a $(13) million loss included in loss on early extinguishment of debt for the nine months ended September 30, 2019 related to the difference between the redemption price and the par value of the Make Whole Notes and Term Loan Facility, partially offset by the write-off of unamortized step-up related to the fair value step-up of EID’s debt.
9.
Includes a $(50) million foreign exchange loss for the nine months ended September 30, 2018 related to adjustments to foreign currency exchange contracts as a result of U.S. tax reform.
10.
Includes a $(33) million charge included in other income - net for the three and nine months ended September 30, 2019 associated with remeasuring the company’s Argentine Peso net monetary assets, resulting from an unexpected August primary election result in Argentina.  Throughout the three months ended September 30, 2019, the Argentine Peso dropped approximately a third of its value against the US dollar and in September of 2019, the country’s central bank announced new restrictions on foreign currency transactions.