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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Asset Disclosure [Abstract] |
Schedule of Goodwill |
(In millions) | Agriculture | Crop Protection | Seed | Total
Balance as of December 31, 2018 | $ | 10,193 |  | $ | — |  | $ | — |  | $ | 10,193 |
Currency translation adjustment | (28) |  | — |  | — |  | (28) |
Other goodwill adjustments and acquisitions 1 | 14 |  | — |  | — |  | 14 |
Realignment of segments | (10,179) |  | 4,726 |  | 5,453 |  | — |
Balance as of June 1, 2019 | $ | — |  | $ | 4,726 |  | $ | 5,453 |  | $ | 10,179 |
Currency translation adjustment | — |  | 28 |  | 32 |  | 60 |
Other goodwill adjustments and acquisitions 2 | — |  | (11) |  | 1 |  | (10) |
Balance as of December 31, 2019 | — |  | 4,743 |  | 5,486 |  | 10,229 |
Currency translation adjustment | — |  | 31 |  | 38 |  | 69 |
Other goodwill adjustments and acquisitions 2 | — |  | (29) |  | — |  | (29) |
Balance as of December 31, 2020 | $ | — |  | $ | 4,745 |  | $ | 5,524 |  | $ | 10,269 |
1.Primarily consists of the acquisition of a distributor in Greece. 2.Primarily consists of the goodwill included in the sale of businesses in the crop protection segment.
Other Intangible Assets |
(In millions) | December 31, 2020 | December 31, 2019
| Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net
Intangible assets subject to amortization (Definite-lived): |  |  |  |  |  |
Germplasm 1 | $ | 6,265 |  | $ | (317) |  | $ | 5,948 |  | $ | 6,265 |  | $ | (63) |  | $ | 6,202 |
Customer-related | 1,984 |  | (380) |  | 1,604 |  | 1,977 |  | (268) |  | 1,709 |
Developed technology | 1,451 |  | (525) |  | 926 |  | 1,463 |  | (370) |  | 1,093 |
Trademarks/trade names 2 | 2,019 |  | (99) |  | 1,920 |  | 166 |  | (86) |  | 80 |
Favorable supply contracts | 475 |  | (302) |  | 173 |  | 475 |  | (207) |  | 268 |
Other 3 | 405 |  | (239) |  | 166 |  | 404 |  | (213) |  | 191 |
Total other intangible assets with finite lives | 12,599 |  | (1,862) |  | 10,737 |  | 10,750 |  | (1,207) |  | 9,543 |
Intangible assets not subject to amortization (Indefinite-lived): |  |  |  |  |  |
IPR&D | 10 |  | — |  | 10 |  | 10 |  | — |  | 10 |
Trade name 2 |  |  |  | 1,871 |  | — |  | 1,871 |
Total other intangible assets | 10 |  | — |  | 10 |  | 1,881 |  | — |  | 1,881 |
Total | $ | 12,609 |  | $ | (1,862) |  | $ | 10,747 |  | $ | 12,631 |  | $ | (1,207) |  | $ | 11,424 |
1.Beginning on October, 1, 2019, the company changed its indefinite life assertion of germplasm assets to definite lived with a useful life of 25 years. The change is a result of a more focused development effort of new seed products coupled with an intent to out license select germplasm on a nonexclusive basis. Prior to changing the useful life of the germplasm assets, the company tested the assets for impairment under ASC 350 - Intangibles, Goodwill and Other, concluding the assets were not impaired. The increase in accumulated amortization for the year ended December 31, 2020 when compared to the year ended December 31, 2019 is due to 2020 including a full year of amortization of germplasm assets. 2.Beginning on October 1, 2020, the company changed its indefinite life assertion of its trade name asset to definite lived with a useful life of 25 years. This change is the result of the launch of Brevant TM seed in the retail channel in the U.S. Prior to changing the useful life of the trade name asset, the company tested the asset for impairment under ASC 350 - Intangibles, Goodwill and Other, concluding the asset was not impaired. 3.Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
(In millions) |
2021 | $ | 720 |
2022 | $ | 698 |
2023 | $ | 619 |
2024 | $ | 605 |
2025 | $ | 569 |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite or indefinite life, by either major class or business segment. + References No definition available. + Details
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