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Supplementary Information | 12 Months Ended
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Dec. 31, 2022
Supplementary Information [Abstract] |
Additional Financial Information Disclosure [Text Block] | SUPPLEMENTARY INFORMATION
Other Income (Expense) - Net | For the Year Ended December 31,
(In millions) | 2022 | 2021 | 2020
Interest income | $ | 124 |  | $ | 77 |  | $ | 56 |
Equity in earnings (losses) of affiliates - net | 20 |  | 14 |  | — |
Net gain (loss) on sales of businesses and other assets 1 | 18 |  | 21 |  | (2) |
Net exchange gains (losses)2 | (229) |  | (54) |  | (174) |
Non-operating pension and other post employment benefit credits (costs)3 | 163 |  | 1,318 |  | 368 |
Miscellaneous income (expenses) - net 4 | (156) |  | (28) |  | (36) |
Other income (expense) - net | $ | (60) |  | $ | 1,348 |  | $ | 212 |
1. The years ended December 31, 2022 and 2021 include a gain of $15 million and $19 million, respectively, relating to the sale of a business in the crop protection segment. The year ended December 31, 2020 includes a loss of $(53) million and a gain of $27 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, and the sale of a business in Asia Pacific in the crop protection segment, respectively. 2. Includes net pre-tax exchange gains (losses) of $(110) million, $(67) million and $(82) million associated with the devaluation of the Argentine peso for the years ended December 31, 2022, 2021 and 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 gain (loss)). 4. Includes losses from 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. The years ended December 31, 2022 and 2021 also includes the Employee Retention Credit of $9 million and $60 million, respectively, pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”). The year ended December 31, 2022 also includes estimated settlement reserves of $(87) million, losses associated with a previously held equity investment, legal accruals, settlement cost associated with the Russia Exit, and charges associated with the exit of a non-strategic asset. The year ended December 31, 2021 includes a charge related to a contract termination with a third-party service provider of $(54) million, a gain from the remeasurement of an equity investment of $47 million, and an officer indemnification payment. 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 United States (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 (expense) - net and the related tax impact is recorded in provision for (benefit from) income taxes on continuing operations in the Consolidated Statements of Operations.
| For the Year Ended December 31,
(In millions) | 2022 | 2021 | 2020
Subsidiary Monetary Position Gain (Loss) |  |  |
Pre-tax exchange gain (loss) | $ | (217) |  | $ | (72) |  | $ | (263) |
Local tax (expenses) benefits | (10) |  | (30) |  | 34 |
Net after-tax impact from subsidiary exchange gain (loss) | $ | (227) |  | $ | (102) |  | $ | (229) |
Hedging Program Gain (Loss) |  |  |
Pre-tax exchange gain (loss) | $ | (12) |  | $ | 18 |  | $ | 89 |
Tax (expenses) benefits | 5 |  | (4) |  | (21) |
Net after-tax impact from hedging program exchange gain (loss) | $ | (7) |  | $ | 14 |  | $ | 68 |
Total Exchange Gain (Loss) |  |  |
Pre-tax exchange gain (loss) | $ | (229) |  | $ | (54) |  | $ | (174) |
Tax (expenses) benefits | (5) |  | (34) |  | 13 |
Net after-tax exchange gain (loss) | $ | (234) |  | $ | (88) |  | $ | (161) |
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 Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash equivalents presented in the 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 Consolidated Balance Sheets.
(In millions) | December 31, 2022 | December 31, 2021
Cash and cash equivalents | $ | 3,191 |  | $ | 4,459 |
Restricted cash equivalents | 427 |  | 377 |
Total cash, cash equivalents and restricted cash equivalents | $ | 3,618 |  | $ | 4,836 |
Restricted cash equivalents primarily relates to a trust funded by EIDP for cash obligations under certain non-qualified benefit and deferred compensation plans due to the Merger, which was a change in control event, and contributions to escrow accounts established for the settlement of certain legal matters, which are classified as current, and the settlement of legacy PFAS matters and the associated qualified spend, which is classified as noncurrent. Accounts payable Accounts payable was $4,895 million and $4,126 million at December 31, 2022 and December 31, 2021, respectively. Accounts payable - trade, which is a component of accounts payable, was $3,717 million and $3,023 million at December 31, 2022 and December 31, 2021, respectively. Accrued discounts and rebates, which is a component of accounts payable, was approximately $1,030 million and $925 million at December 31, 2022 and 2021, respectively. No other components of accounts payable were more than 5 percent of total current liabilities.

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