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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | STOCKHOLDERS' EQUITY Share Buyback Plan On September 13, 2022, Corteva, Inc. announced that its Board of Directors authorized a $2 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2022 Share Buyback Plan"). On August 5, 2021, Corteva, Inc. announced that its Board of Directors authorized a $1.5 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2021 Share Buyback Plan"). In connection with the 2021 Share Buyback Plan, the company repurchased and retired 3,414,000 shares and 14,284,000 shares in the open market for a total cost of $200 million and $800 million during the three and nine months ended September 30, 2022, respectively. On June 26, 2019, Corteva, Inc. announced that its Board of Directors authorized a $1 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2019 Share Buyback Plan"). In connection with the 2019 Share Buyback Plan, the company repurchased and retired 3,408,000 shares and 15,378,000 shares in the open market for a total cost of $150 million and $700 million during the three and nine months ended September 30, 2021, respectively. Repurchases under the 2019 Share Buyback Plan were completed during the third quarter of 2021. The timing, price and volume of purchases in connection with the 2022 and 2021 Share Buyback Plans will be based on market conditions, relevant securities laws and other factors. Shares repurchased pursuant to Corteva's share buyback plans are immediately retired upon repurchase. Repurchased common stock is reflected as a reduction of stockholders' equity. The company's accounting policy related to its share repurchases is to reduce its common stock based on the par value of the shares and to reduce its retained earnings for the excess of the repurchase price over the par value. When Corteva has an accumulated deficit balance, the excess over the par value is applied to APIC. When Corteva has retained earnings, the excess is charged entirely to retained earnings. Noncontrolling Interest Corteva, Inc. owns 100 percent of the outstanding common shares of EID. However, EID has preferred stock outstanding to third parties which is accounted for as a non-controlling interest in Corteva's interim Consolidated Balance Sheets. Each share of EID Preferred Stock - $4.50 Series and EID Preferred Stock - $3.50 Series issued and outstanding at the effective date of the Corteva Distribution remains issued and outstanding as to EID and was unaffected by the Corteva Distribution. Below is a summary of the EID Preferred Stock at September 30, 2022, December 31, 2021, and September 30, 2021, which is classified as noncontrolling interests in Corteva's interim Consolidated Balance Sheets.
Shares in thousands | Number of Shares
Authorized | 23,000
$4.50 Series, callable at $120 | 1,673
$3.50 Series, callable at $102 | 700
Other Comprehensive Income (Loss) The changes and after-tax balances of components comprising accumulated other comprehensive income (loss) are summarized below:
(In millions) | Cumulative Translation Adjustment 1 | Derivative Instruments | Pension Benefit Plans | Other Benefit Plans | Unrealized Gain (Loss) on Investments | Total
2021 |  |  |  |  |  |
Balance January 1, 2021 | $ | (1,970) |  | $ | (67) |  | $ | (1,433) |  | $ | 590 |  | $ | (10) |  | $ | (2,890) |
Other comprehensive income (loss) before reclassifications | (424) |  | 115 |  | (6) |  | 1 |  | 3 |  | (311) |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  | (8) |  | 32 |  | (475) |  | 7 |  | (444) |
Net other comprehensive income (loss) | (424) |  | 107 |  | 26 |  | (474) |  | 10 |  | (755) |
Balance September 30, 2021 | $ | (2,394) |  | $ | 40 |  | $ | (1,407) |  | $ | 116 |  | $ | — |  | $ | (3,645) |
2022 |  |  |  |  |  |
Balance January 1, 2022 | $ | (2,543) |  | $ | 72 |  | $ | (396) |  | $ | (31) |  | $ | — |  | $ | (2,898) |
Other comprehensive income (loss) before reclassifications | (868) |  | 92 |  | 107 |  | 3 |  | — |  | (666) |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  | (50) |  | 21 |  | 1 |  | — |  | (28) |
Net other comprehensive income (loss) | (868) |  | 42 |  | 128 |  | 4 |  | — |  | (694) |
Balance September 30, 2022 | $ | (3,411) |  | $ | 114 |  | $ | (268) |  | $ | (27) |  | $ | — |  | $ | (3,592) |
1.The cumulative translation adjustment gain for the nine months ended September 30, 2022 was primarily driven by strengthening of the USD against the European Euro ("EUR"), Swiss Franc ("CHF"), Indian Rupee ("INR") and South African Rand ("ZAR"). The cumulative translation adjustment loss for the nine months ended September 30, 2021 was primarily driven by strengthening of the USD against the European Euro ("EUR"), Swiss Franc ("CHF") and Brazilian Real ("BRL"). The tax (expense) benefit on the net activity related to each component of other comprehensive income (loss) was as follows:
(In millions) | Three Months Ended September 30, | Nine Months Ended September 30,
| 2022 | 2021 | 2022 | 2021
Derivative instruments | $ | (13) |  | $ | (12) |  | $ | (13) |  | $ | (37) |
Pension benefit plans - net | (30) |  | (3) |  | (35) |  | (8) |
Other benefit plans - net | — |  | 51 |  | 3 |  | 148 |
(Provision for) benefit from income taxes related to other comprehensive income (loss) items | $ | (43) |  | $ | 36 |  | $ | (45) |  | $ | 103 |
A summary of the reclassifications out of accumulated other comprehensive income (loss) is provided as follows:
(In millions) | Three Months Ended September 30, | Nine Months Ended September 30,
| 2022 | 2021 | 2022 | 2021
Derivative Instruments 1: | $ | 33 |  | $ | 6 |  | $ | (68) |  | $ | (9) |
Tax (benefit) expense 2 | (5) |  | (1) |  | 18 |  | 1 |
After-tax | $ | 28 |  | $ | 5 |  | $ | (50) |  | $ | (8) |
Amortization of pension benefit plans: |  |  |  |
Prior service (benefit) cost 3,4 | $ | — |  | $ | — |  | $ | (2) |  | $ | (1) |
Actuarial (gains) losses 3,4 | — |  | 14 |  | 2 |  | 41 |
Settlement (gain) loss 3,4 | 25 |  | — |  | 27 |  | 1 |
Total before tax | $ | 25 |  | $ | 14 |  | $ | 27 |  | $ | 41 |
Tax (benefit) expense 2 | (6) |  | (3) |  | (6) |  | (9) |
After-tax | $ | 19 |  | $ | 11 |  | $ | 21 |  | $ | 32 |
Amortization of other benefit plans: |  |  |  |
Prior service (benefit) cost 3,4 | $ | — |  | $ | (231) |  | $ | (1) |  | $ | (692) |
Actuarial (gains) loss 3,4 | 1 |  | 23 |  | 2 |  | 70 |
Curtailment (gain) loss | — |  | — |  | — |  | (1) |
Total before tax | $ | 1 |  | $ | (208) |  | $ | 1 |  | $ | (623) |
Tax (benefit) expense 2 | — |  | 51 |  | — |  | 148 |
After-tax | $ | 1 |  | $ | (157) |  | $ | 1 |  | $ | (475) |
Unrealized Loss on Investments 4 | $ | — |  | $ | — |  | $ | — |  | $ | 7 |
Tax (benefit) expense 2 | — |  | — |  | — |  | — |
After-tax | $ | — |  | $ | — |  | $ | — |  | $ | 7 |
Total reclassifications for the period, after-tax | $ | 48 |  | $ | (141) |  | $ | (28) |  | $ | (444) |
1.Reflected in cost of goods sold in the interim Consolidated Statements of Operations. 2.Reflected in provision for (benefit from) income taxes from continuing operations in the interim Consolidated Statements of Operations. 3.These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit credit of the company's pension and other benefit plans. See Note 14 - Pension Plans and Other Post Employment Benefits, for additional information. 4.Reflected in other income - net in the interim Consolidated Statements of Operations.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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