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Restructuring and Asset Related Charges | 12 Months Ended
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Dec. 31, 2021
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure [Text Block] | RESTRUCTURING AND ASSET RELATED CHARGES - NET 2021 Restructuring Actions During the first quarter of 2021, Corteva approved restructuring actions designed to right-size and optimize its footprint and organizational structure according to the business needs in each region with the focus on driving continued cost improvement and productivity. The company recorded net pre-tax restructuring charges in 2021 under the 2021 Restructuring Actions, as disclosed in the tables below. The company does not anticipate any additional material charges from the 2021 Restructuring Actions as actions associated with this charge are substantially complete. The charges related to the 2021 Restructuring Actions related to the segments, as well as corporate expenses, were as follows:
(In millions) | For the Year Ended December 31, 2021
Seed | $ | 31 |
Crop Protection | 55 |
Corporate expenses | 81 |
Total | $ | 167 |
The following table is a summary of charges incurred related to 2021 Restructuring Actions for the year ended December 31, 2021:
(In millions) | For the Year Ended December 31, 2021
Severance and related benefit costs | $ | 74 |
Asset related charges | 51 |
Contract termination charges | 42 |
Total restructuring and asset charges - net | $ | 167 |
A reconciliation of the December 31, 2020 to the December 31, 2021 liability balances related to the 2021 Restructuring Actions is summarized below:
(In millions) | Severance and Related Benefit Costs | Asset Related 1 | Contract Termination 2 | Total
Balance at December 31, 2020 | $ | — |  | $ | — |  | $ | — |  | $ | — |
Charges to income from continuing operations | 74 |  | 51 |  | 42 |  | 167 |
Payments | (22) |  | — |  | (30) |  | (52) |
Asset write-offs | — |  | (51) |  | — |  | (51) |
Balance at December 31, 2021 | $ | 52 |  | $ | — |  | $ | 12 |  | $ | 64 |
1.In addition, the company has a liability recorded for asset retirement obligations of $6 million as of December 31, 2021. 2.The liability for contract terminations includes lease obligations. The cash impact of these obligations will be substantially complete by the end of 2022. Execute to Win Productivity Program During the first quarter of 2020, Corteva approved restructuring actions designed to improve productivity through optimizing certain operational and organizational structures primarily related to the Execute to Win Productivity Program. The company recorded net pre-tax restructuring charges of $185 million inception-to-date under the Execute to Win Productivity Program, consisting of $124 million of asset related charges and $61 million of severance and related benefit costs. Actions associated with the Execute to Win Productivity Program were substantially complete by the end of 2020. The Execute to Win Productivity Program charges related to the segments, as well as corporate expenses, were as follows:
| For the Year Ended December 31,
(In millions) | 2021 | 2020
Seed | $ | — |  | $ | 15 |
Crop Protection | 11 |  | 98 |
Corporate expenses | (2) |  | 63 |
Total | $ | 9 |  | $ | 176 |
The below is a summary of charges incurred related to the Execute to Win Productivity Program for the year ended December 31, 2020:
| For the Year Ended December 31,
(In millions) | 2021 | 2020
Severance and related benefit costs - net | $ | (2) |  | $ | 63 |
Asset related charges | 11 |  | 113 |
Total restructuring and asset related charges - net | $ | 9 |  | $ | 176 |
A reconciliation of the December 31, 2020 to the December 31, 2021 liability balances related to the Execute to Win Productivity Program is summarized below:
(In millions) | Severance and Related Benefit (Credits) Costs | Asset Related 1 | Total
Balance at December 31, 2020 | $ | 53 |  | $ | 3 |  | $ | 56 |
Charges to income from continuing operations for the year ended December 31, 2021 | (2) |  | 11 |  | 9 |
Payments | (27) |  | (3) |  | (30) |
Asset write-offs | — |  | (11) |  | (11) |
Balance at December 31, 2021 | $ | 24 |  | $ | — |  | $ | 24 |
1.In addition, the company has a liability recorded for asset retirement obligations of $13 million as of December 31, 2021. DowDuPont Cost Synergy Program In September and November 2017, DowDuPont and EID approved post-merger restructuring actions under the DowDuPont Cost Synergy Program (the “Synergy Program”), adopted at the time by the DowDuPont Board of Directors. The Synergy Program was designed to integrate and optimize the organization following the Merger and in preparation for the Business Separations. The company recorded net pre-tax restructuring charges of $833 million inception-to-date under the Synergy Program, consisting of severance and related benefit costs of $316 million, contract termination costs of $190 million, and asset related charges of $327 million. Actions associated with the Synergy Program, including employee separations, were substantially complete by the end of 2019. The Synergy Program net charges (benefits) related to the segments, as well as corporate expenses, were as follows:
| For the Year Ended December 31,
(In millions) | 2021 | 2020 | 2019
Seed | $ | (8) |  | $ | (9) |  | $ | 66 |
Crop Protection | (3) |  | 11 |  | 27 |
Corporate expenses | (1) |  | (2) |  | (1) |
Total | $ | (12) |  | $ | — |  | $ | 92 |
The below is a summary of net charges (benefits) incurred related to the Synergy Program for the years ended December 31, 2021, 2020 and 2019:
| For the Year Ended December 31,
(In millions) | 2021 | 2020 | 2019
Severance and related benefit (credits) costs - net | $ | (1) |  | $ | (2) |  | $ | (7) |
Contract termination charges | (3) |  | — |  | 69 |
Asset related charges | (8) |  | 2 |  | 30 |
Total restructuring and asset related charges - net | $ | (12) |  | $ | — |  | $ | 92 |
Other Asset Related Charges For the years ended December 31, 2021 and 2020, the company recognized $125 million and $159 million, respectively, in restructuring and asset related charges - net in the Consolidated Statements of Operations, from non-cash accelerated prepaid royalty amortization expense related to Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits. Asset Impairment During the year ended December 31, 2019, the company recognized non-cash impairment charges of $144 million pre-tax ($110 million after-tax) in restructuring and asset related charges - net in the company's Consolidated Statements of Operations related to certain in-process research and development ("IPR&D") assets within the seed segment. Refer to Note 15 - Goodwill and Other Intangible Assets, and Note 23 - Fair Value Measurements, for further information.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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