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Supplementary Information | 9 Months Ended
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Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Additional Financial Information Disclosure [Text Block] | SUPPLEMENTARY INFORMATION
Other Income - Net | Three Months Ended September | Nine Months Ended September 30,
(In millions) | 2022 | 2021 | 2022 | 2021
Interest income | $ | 36 |  | $ | 19 |  | $ | 75 |  | $ | 58 |
Equity in earnings (losses) of affiliates - net | (1) |  | (1) |  | 13 |  | 4 |
Net gain (loss) on sales of businesses and other assets | 16 |  | 1 |  | 17 |  | 2 |
Net exchange gains (losses)1 | (13) |  | 2 |  | (96) |  | (47) |
Non-operating pension and other post employment benefit credit (costs)2 | 22 |  | 326 |  | 170 |  | 979 |
Miscellaneous income (expenses) - net 3 | (37) |  | 31 |  | (90) |  | 17 |
Other income - net | $ | 23 |  | $ | 378 |  | $ | 89 |  | $ | 1,013 |
1.Includes net pre-tax exchange gains (losses) of $(32) million and $(65) million associated with the devaluation of the Argentine peso for the three and nine months ended September 30, 2022, respectively, and $(16) million and $(53) million for the three and nine months ended September 30, 2021, respectively. 2.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 gain (loss)). 3.Miscellaneous income (expenses) - net for the three and nine months ended September 30, 2022 and 2021 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 income (expenses) - net for the three and nine months ended September 30, 2022 also includes estimated settlement reserves, settlement cost associated with the Russia Exit and an Employee Retention Credit, and the nine months ended September 30, 2022 also includes charges associated with the exit of a non-strategic asset. Additionally, the three and nine months ended September 30, 2021 includes a gain from remeasurement of an equity investment and 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 (benefit from) income taxes on continuing operations in the interim Consolidated Statements of Operations.
(In millions) | Three Months Ended September | Nine Months Ended September 30,
| 2022 | 2021 | 2022 | 2021
Subsidiary Monetary Position Gain (Loss) |  |  |  |
Pre-tax exchange gain (loss) | $ | (80) |  | $ | (32) |  | $ | (120) |  | $ | (47) |
Local tax (expenses) benefits | (40) |  | 3 |  | (61) |  | (11) |
Net after-tax impact from subsidiary exchange gain (loss) | $ | (120) |  | $ | (29) |  | $ | (181) |  | $ | (58) |
Hedging Program Gain (Loss) |  |  |  |
Pre-tax exchange gain (loss) | $ | 67 |  | $ | 34 |  | $ | 24 |  | $ | — |
Tax (expenses) benefits | (15) |  | (8) |  | (5) |  | — |
Net after-tax impact from hedging program exchange gain (loss) | $ | 52 |  | $ | 26 |  | $ | 19 |  | $ | — |
Total Exchange Gain (Loss) |  |  |  |
Pre-tax exchange gain (loss) | $ | (13) |  | $ | 2 |  | $ | (96) |  | $ | (47) |
Tax (expenses) benefits | (55) |  | (5) |  | (66) |  | (11) |
Net after-tax exchange gain (loss) | $ | (68) |  | $ | (3) |  | $ | (162) |  | $ | (58) |
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, 2022 | December 31, 2021 | September 30, 2021
Cash and cash equivalents | $ | 2,199 |  | $ | 4,459 |  | $ | 2,779 |
Restricted cash equivalents | 420 |  | 377 |  | 361 |
Total cash, cash equivalents and restricted cash equivalents | $ | 2,619 |  | $ | 4,836 |  | $ | 3,140 |
Restricted cash equivalents primarily relates to a trust funded by EID for cash obligations under certain non-qualified benefit and deferred compensation plans due to the Merger, which was a change in control event, and is classified as current. Restricted cash equivalents for September 30, 2022 and December 31, 2021 also includes contributions to escrow accounts established for the settlement of certain legal matters, which is classified as current, and the settlement of legacy PFAS matters and the associated qualified spend, which is classified as noncurrent.

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