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Restructuring and Asset Related Charges (Tables) | 12 Months Ended
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Dec. 31, 2022
2022 Restructuring Actions |
Restructuring Cost and Reserve [Line Items] |
Schedule of Restructuring Reserve by Segment |
(In millions) | For the Year Ended December 31, 2022
Seed | $ | 120 |
Crop Protection | 41 |
Corporate expenses | 111 |
Total 1 | $ | 272 |
1.This amount excludes the pre-tax charges impacting the Seed segment recorded to cost of goods sold and other income (expense) - net in the company's Consolidated Statement of Operations, relating to inventory write-offs of $33 million, and a gain on sale of a business of $15 million, settlement costs associated with the Russia Exit, and charges associated with the exit of a non-strategic asset of $5 million, respectively. This amount also excludes the Russian Seed Sale, which impacted the Seed segment.
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] |
(In millions) | For the Year Ended December 31, 2022
Severance and related benefit costs | $ | 111 |
Asset related charges | 104
Contract termination charges 1 | 57
Total restructuring and asset related charges - net 2 | $ | 272 |
1.Contract terminations includes early lease terminations. 2.This amount excludes the pre-tax charges impacting the Seed segment recorded to cost of goods sold and other income (expense) - net in the company's Consolidated Statement of Operations, relating to inventory write-offs of $33 million, and a gain on sale of a business of $15 million, settlement costs associated with the Russia Exit, and charges associated with the exit of a non-strategic asset of $5 million, respectively. This amount also excludes the Russian Seed Sale, which impacted the Seed segment. A reconciliation of the December 31, 2021 to the December 31, 2022 liability balances related to the 2022 Restructuring Actions is summarized below:
(In millions) | Severance and Related Benefit Costs | Asset Related | Contract Termination 1 | Total
Balance at December 31, 2021 | $ | — |  | $ | — |  | $ | — |  | $ | — |
Charges to income from continuing operations | 111 |  | 104 |  | 57 |  | 272 |
Payments | (40) |  | — |  | (45) |  | (85) |
Asset write-offs | — |  | (104) |  | — |  | (104) |
Balance at December 31, 2022 | $ | 71 |  | $ | — |  | $ | 12 |  | $ | 83 |
1.The liability for contract terminations includes lease obligations. The cash impact of these obligations will be substantially complete in 2023.
2021 Restructuring Actions [Member] |
Restructuring Cost and Reserve [Line Items] |
Schedule of Restructuring Reserve by Segment | The charges related to the 2021 Restructuring Actions related to the segments, as well as corporate expenses, for the years ended December 31, 2022 and 2021 were as follows:
| For the Year Ended December 31,
(In millions) | 2022 | 2021
Seed | $ | (1) |  | $ | 31 |
Crop Protection | (1) |  | 55 |
Corporate expenses | (5) |  | 81 |
Total | $ | (7) |  | $ | 167 |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The following table is a summary of charges incurred related to 2021 Restructuring Actions for the years ended December 31, 2022 and 2021:
| For the Year Ended December 31,
(In millions) | 2022 | 2021
Severance and related benefit costs | $ | (5) |  | $ | 74 |
Asset related charges | — |  | 51 |
Contract termination charges | (2) |  | 42 |
Total restructuring and asset related charges - net | $ | (7) |  | $ | 167 |
A reconciliation of the December 31, 2021 to the December 31, 2022 liability balances related to the 2021 Restructuring Actions is summarized below:
(In millions) | Severance and Related Benefit Costs | Asset Related | Contract Termination | Total
Balance at December 31, 2021 | $ | 52 |  | $ | — |  | $ | 12 |  | $ | 64 |
Charges to income from continuing operations | (5) |  | — |  | (2) |  | (7) |
Payments | (37) |  | — |  | (10) |  | (47) |
Asset write-offs | — |  | — |  | — |  | — |
Balance at December 31, 2022 | $ | 10 |  | $ | — |  | $ | — |  | $ | 10 |
Execute to Win Productivity Program |
Restructuring Cost and Reserve [Line Items] |
Schedule of Restructuring Reserve by Segment | The Execute to Win Productivity Program charges related to the segments, as well as corporate expenses for the years ended December 31, 2022, 2021, and 2020, were as follows:
| For the Year Ended December 31,
(In millions) | 2022 | 2021 | 2020
Seed | $ | — |  | $ | — |  | $ | 15 |
Crop Protection | (4) |  | 11 |  | 98 |
Corporate expenses | (8) |  | (2) |  | 63 |
Total | $ | (12) |  | $ | 9 |  | $ | 176 |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The following table is a summary of charges incurred related to the Execute to Win Productivity Program for the years ended December 31, 2022, 2021 and 2020:
| For the Year Ended December 31,
(In millions) | 2022 | 2021 | 2020
Severance and related benefit costs - net | $ | (8) |  | $ | (2) |  | $ | 63 |
Asset related charges | (4) |  | 11 |  | 113 |
Total restructuring and asset related charges - net | $ | (12) |  | $ | 9 |  | $ | 176 |

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