XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.23.2

Other Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure [Text Block] | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The following table summarizes changes in the carrying amount of goodwill by segment for the six months ended June 30, 2023:
(In millions) | Crop Protection | Seed | Total
Balance as of December 31, 2022 | $ | 4,618 |  | $ | 5,344 |  | $ | 9,962 |
Acquisitions 1 | 513 |  | — |  | 513 |
Currency translation adjustments | 30 |  | 34 |  | 64 |
Balance as of June 30, 2023 | $ | 5,161 |  | $ | 5,378 |  | $ | 10,539 |
1.On March 1, 2023, the company completed the acquisitions of Stoller and Symborg, which are included in the crop protection segment. See Note 3 – Business Combinations, to the interim Consolidated Financial Statements, for additional information. In April 2022, the company implemented a global business unit organization model (“BU Reorganization”). The BU Reorganization resulted in the company’s digital reporting unit being merged into the seed and crop protection reporting units with the goodwill relating to the former digital reporting unit being reassigned to the seed and crop protection reporting units using a relative fair value allocation approach. An interim goodwill impairment assessment immediately prior to the BU Reorganization and for the seed and crop protection reporting units immediately after the BU Reorganization resulted in no goodwill impairment charges. Other Intangibles Assets The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows:
(In millions) | June 30, 2023 1 |  | December 31, 2022 | June 30, 2022
| Gross | Accumulated Amortization | Net |  | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net
Intangible assets subject to amortization (finite-lived): |  |  |  |  |  |  |  |  |  |
Germplasm | $ | 6,291 |  | $ | (953) |  | $ | 5,338 |  |  | $ | 6,291 |  | $ | (826) |  | $ | 5,465 |  | $ | 6,265 |  | $ | (698) |  | $ | 5,567 |
Customer-related | 2,429 |  | (657) |  | 1,772 |  |  | 1,912 |  | (585) |  | 1,327 |  | 1,936 |  | (538) |  | 1,398 |
Developed technology | 1,843 |  | (913) |  | 930 |  |  | 1,485 |  | (830) |  | 655 |  | 1,485 |  | (753) |  | 732 |
Trademarks/trade names | 2,110 |  | (293) |  | 1,817 |  |  | 2,009 |  | (251) |  | 1,758 |  | 2,009 |  | (211) |  | 1,798 |
Favorable supply contracts 2 |  |  |  |  |  |  |  | 475 |  | (444) |  | 31 |
Other 3 | 395 |  | (283) |  | 112 |  |  | 395 |  | (271) |  | 124 |  | 399 |  | (262) |  | 137 |
Total other intangible assets with finite lives | 13,068 |  | (3,099) |  | 9,969 |  |  | 12,092 |  | (2,763) |  | 9,329 |  | 12,569 |  | (2,906) |  | 9,663 |
Intangible assets not subject to amortization (indefinite-lived): |  |  |  |  |  |  |  |  |  |
IPR&D | 16 |  | — |  | 16 |  |  | 10 |  | — |  | 10 |  | 10 |  | — |  | 10 |
Total other intangible assets with indefinite lives | 16 |  | — |  | 16 |  |  | 10 |  | — |  | 10 |  | 10 |  | — |  | 10 |
Total other intangible assets | $ | 13,084 |  | $ | (3,099) |  | $ | 9,985 |  |  | $ | 12,102 |  | $ | (2,763) |  | $ | 9,339 |  | $ | 12,579 |  | $ | (2,906) |  | $ | 9,673 |
1.Includes the intangible assets acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 3 – Business Combinations, to the interim Consolidated Financial Statements, for additional information. 2.Effective November 1, 2022, the favorable supply contracts expired and were fully amortized. 3.Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements. The aggregate pre-tax amortization expense from continuing operations for definite-lived intangible assets was $174 million and $334 million for the three and six months ended June 30, 2023, respectively, and $179 million and $358 million for the three and six months ended June 30, 2022, respectively. The current estimated aggregate pre-tax amortization expense from continuing operations for the remainder of 2023 and each of the next five years is approximately $349 million, $682 million, $645 million, $634 million, $574 million and $553 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration