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Supplementary Information | 9 Months Ended
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Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Additional Financial Information Disclosure [Text Block] | SUPPLEMENTARY INFORMATION
Other Income (Expense) - Net | Three Months Ended September 30, | Nine Months Ended September 30,
(In millions) | 2023 | 2022 | 2023 | 2022
Interest income | $ | 59 |  | $ | 36 |  | $ | 153 |  | $ | 75 |
Equity in earnings (losses) of affiliates - net | (2) |  | (1) |  | 4 |  | 13 |
Net gain (loss) on sales of businesses and other assets | 10 |  | 16 |  | 11 |  | 17 |
Net exchange gains (losses)1 | (102) |  | (13) |  | (242) |  | (96) |
Non-operating pension and other post employment benefit credit (costs)2 | (30) |  | 22 |  | (91) |  | 170 |
Miscellaneous income (expenses) - net 3 | (84) |  | (37) |  | (189) |  | (90) |
Other income (expense) - net | $ | (149) |  | $ | 23 |  | $ | (354) |  | $ | 89 |
1.Includes net pre-tax exchange gains (losses) associated with the devaluation of the Argentine peso of $(83) million and $(150) million for the three and nine months ended September 30, 2023, respectively, and $(32) million and $(65) million for the three and nine months ended September 30, 2022, 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.Includes estimated settlement reserves, losses on sales of receivables, and other items. The nine months ended September 30, 2023 also includes an adjustment to the Employee Retention Credit 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”) due to a change in estimate, gains on the sale of assets and a loss on the sale of the company’s interest in an equity investment. The three and nine months ended September 30, 2022 also includes settlement costs associated with the Russia Exit and an Employee Retention Credit. The nine months ended September 30, 2022 also includes loss on the sale of the company’s interest in an equity investment and losses associated with a previously held equity investment. 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 (expense) - 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 30, | Nine Months Ended September 30,
| 2023 | 2022 | 2023 | 2022
Subsidiary Monetary Position Gain (Loss) |  |  |  |
Pre-tax exchange gain (loss) | $ | (104) |  | $ | (80) |  | $ | (182) |  | $ | (120) |
Local tax (expenses) benefits | 19 |  | (40) |  | 27 |  | (61) |
Net after-tax impact from subsidiary exchange gain (loss) | $ | (85) |  | $ | (120) |  | $ | (155) |  | $ | (181) |
Hedging Program Gain (Loss) |  |  |  |
Pre-tax exchange gain (loss) | $ | 2 |  | $ | 67 |  | $ | (60) |  | $ | 24 |
Tax (expenses) benefits | (4) |  | (15) |  | 12 |  | (5) |
Net after-tax impact from hedging program exchange gain (loss) | $ | (2) |  | $ | 52 |  | $ | (48) |  | $ | 19 |
Total Exchange Gain (Loss) |  |  |  |
Pre-tax exchange gain (loss) | $ | (102) |  | $ | (13) |  | $ | (242) |  | $ | (96) |
Tax (expenses) benefits | 15 |  | (55) |  | 39 |  | (66) |
Net after-tax exchange gain (loss) | $ | (87) |  | $ | (68) |  | $ | (203) |  | $ | (162) |
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, 2023 | December 31, 2022 | September 30, 2022
Cash and cash equivalents | $ | 2,254 |  | $ | 3,191 |  | $ | 2,199 |
Restricted cash equivalents | 522 |  | 427 |  | 420 |
Total cash, cash equivalents and restricted cash equivalents | $ | 2,776 |  | $ | 3,618 |  | $ | 2,619 |
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 and the settlement of legacy PFAS matters and the associated qualified spend. All of the company's restricted cash equivalents are classified as current as of September 30, 2023, December 31, 2022 and September 30, 2022, except for the contributions to the escrow account established for the settlement of legacy PFAS matters and the associated qualified spend, which was classified as noncurrent prior to June 30, 2023.

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