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Restructuring and Asset Related Charges (Tables)

6 Months Ended

Jun. 30, 2021

Execute to Win Productivity Program [Domain]

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

			Three Months Ended June 30,						Six Months Ended June 30,
(In millions)			2021			2020			2021			2020
Seed			$	—		$	—		$	—		$	3
Crop Protection			2			37			6			55
Corporate expenses			—			4			—			46
Total			$	2		$	41		$	6		$	104

			Three Months Ended June 30,						Six Months Ended June 30,
(In millions)			2021			2020			2021			2020
Severance and related benefit costs			$	—		$	4		$	—		$	46
Asset related charges			2			37			6			58
Total restructuring and asset related charges - net			$	2		$	41		$	6		$	104

(In millions)			Severance and Related Benefit Costs			Asset Related1						Total
Balance at December 31, 2020			$	53		$	3					$	56
Charges to income from continuing operations			—			6						6
Payments			(20)			(3)						(23)
Asset write-offs			—			(6)						(6)
Balance at June 30, 2021			$	33		$	—					$	33

1.In addition, the company has a liability recorded for asset retirement obligations of $18 million as of June 30, 2021.

2021 Restructuring Actions [Domain]

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

			Three Months Ended June 30,			Six Months Ended June 30,
(In millions)			2021			2021
Seed			$	3		$	17
Crop Protection			9			37
Corporate expenses			9			56
Total			$	21		$	110

The below is a summary of charges incurred related to 2021 Restructuring Actions for the three and six months ended June 30, 2021:

			Three Months Ended June 30,			Six Months Ended June 30,
(In millions)			2021			2021
Severance and related benefit costs			$	10		$	49
Asset related charges			9			22
Contract termination charges			2			39
Total restructuring and asset charges - net			$	21		$	110

A reconciliation of the December 31, 2020 to the June 30, 2021 liability balances related to the 2021 Restructuring Actions is summarized below:

(In millions)			Severance and Related Benefit Costs			Asset Related1			Contract Termination2			Total
Balance at December 31, 2020			$	—		$	—		$	—		$	—
Charges to income from continuing operations			49			22			39			110
Payments			(9)			—			(23)			(32)
Asset write-offs			—			(22)			—			(22)
Balance at June 30, 2021			$	40		$	—		$	16		$	56

1.In addition, the company has a liability recorded for asset retirement obligations of $6 million as of June 30, 2021.

2.The liability for contract terminations includes lease obligations. The cash impact of these obligations will be substantially complete by 2022.

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- Definition

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
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-Subparagraph (SAB Topic 5.P.4(b)(2))
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