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Supplementary Information | 9 Months Ended
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Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Additional Financial Information Disclosure [Text Block] | SUPPLEMENTARY INFORMATION
Other Income - Net | Three Months Ended September 30, | Nine Months Ended September 30,
(In millions) | 2021 | 2020 | 2021 | 2020
Interest income | $ | 19 |  | $ | 11 |  | $ | 58 |  | $ | 38 |
Equity in (losses) / earnings of affiliates - net | (1) |  | — |  | 4 |  | (3) |
Net gain (loss) on sales of businesses and other assets 1 | 1 |  | 1 |  | 2 |  | (29) |
Net exchange gains / (losses)2 | 2 |  | (67) |  | (47) |  | (127) |
Non-operating pension and other post employment benefit credit 3 | 326 |  | 93 |  | 979 |  | 275 |
Miscellaneous income (expense) - net 4 | 31 |  | (8) |  | 17 |  | (34) |
Other income - net | $ | 378 |  | $ | 30 |  | $ | 1,013 |  | $ | 120 |
1.The nine months ended September 30, 2020 includes a loss of $(53) million relating to the sale of the La Porte site, for which the company signed an agreement in 2020, and closed during the first quarter of 2021. 2.Includes net pre-tax exchange losses of $(16) million and $(53) million associated with the devaluation of the Argentine peso for the three and nine months ended September 30, 2021, respectively, and $(26) million and $(56) million for the three and nine months ended September 30, 2020, respectively. 3.Includes non-service related components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized gain (loss), amortization of prior service benefit and settlement loss). 4.Miscellaneous expense - net for the three and nine months ended September 30, 2021 and 2020 includes losses on sale of receivables, tax indemnification adjustments related to changes in indemnification balances as a result of the application of the terms of the Tax Matters Agreement between Corteva and Dow and/or DuPont, and other items. Miscellaneous expense - net for the three and nine months ended September 30, 2021 also includes a gain from remeasurement of an equity investment and for the nine months ended September 30, 2021 includes realized losses on sale of available-for-sale securities. The following table summarizes the impacts of the company's foreign currency hedging program on the company's results of operations. The company routinely uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency-denominated monetary assets and liabilities. The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions. The hedging program gains (losses) are largely taxable (tax deductible) in the U.S., whereas the offsetting exchange gains (losses) on the remeasurement of the net monetary asset positions are often not taxable (tax deductible) in their local jurisdictions. The net pre-tax exchange gains (losses) are recorded in other income - net and the related tax impact is recorded in provision for income taxes on continuing operations in the interim Consolidated Statements of Operations.
(In millions) | Three Months Ended September 30, | Nine Months Ended September 30,
| 2021 | 2020 | 2021 | 2020
Subsidiary Monetary Position Losses |  |  |  |
Pre-tax exchange losses | $ | (32) |  | $ | (61) |  | $ | (47) |  | $ | (300) |
Local tax benefits / (expenses) | 3 |  | 16 |  | (11) |  | 44 |
Net after-tax impact from subsidiary exchange losses | $ | (29) |  | $ | (45) |  | $ | (58) |  | $ | (256) |
Hedging Program Gains |  |  |  |
Pre-tax exchange gains (losses) | $ | 34 |  | $ | (6) |  | $ | — |  | $ | 173 |
Tax (expenses) / benefits | (8) |  | 2 |  | — |  | (41) |
Net after-tax impact from hedging program exchange gains (losses) | $ | 26 |  | $ | (4) |  | $ | — |  | $ | 132 |
Total Exchange Losses |  |  |  |
Pre-tax exchange gains (losses) | $ | 2 |  | $ | (67) |  | $ | (47) |  | $ | (127) |
Tax (expenses) benefits | (5) |  | 18 |  | (11) |  | 3 |
Net after-tax exchange losses | $ | (3) |  | $ | (49) |  | $ | (58) |  | $ | (124) |
Cash, cash equivalents and restricted cash equivalents The following table provides a reconciliation of cash and cash equivalents and restricted cash equivalents presented in the interim Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash equivalents presented in the interim Consolidated Statements of Cash Flows. Corteva classifies restricted cash equivalents as current or noncurrent based on the nature of the restrictions, which are included in other current assets and other assets, respectively, in the interim Consolidated Balance Sheets.
(In millions) | September 30, 2021 | December 31, 2020 | September 30, 2020
Cash and cash equivalents | $ | 2,779 |  | $ | 3,526 |  | $ | 2,768 |
Restricted cash equivalents | 361 |  | 347 |  | 354 |
Total cash, cash equivalents and restricted cash equivalents | $ | 3,140 |  | $ | 3,873 |  | $ | 3,122 |

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