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Segment Reporting (Notes) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | SEGMENT INFORMATION Corteva’s reportable segments reflects the manner in which its chief operating decision maker ("CODM") allocates resources and assesses performance, which is at the operating segment level (seed and crop protection). For purposes of allocating resources to the segments and assessing segment performance, segment operating EBITDA is the primary measure used by Corteva’s CODM. The company defines segment operating EBITDA as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, corporate expenses, non-operating (benefits) costs, foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items. Non-operating (benefits) costs consists of non-operating pension and other post-employment benefit (OPEB) credits (costs), tax indemnification adjustments, environmental remediation and legal costs associated with legacy EIDP businesses and sites, and the 2021 officer indemnification payment. Tax indemnification adjustments relate 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 that are recorded by the company as pre-tax income or expense. Net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting represents the non-cash net gain (loss) from changes in fair value of certain undesignated foreign currency derivative contracts. Upon settlement, which is within the same calendar year of execution of the contract, the realized gain (loss) from the changes in fair value of the non-qualified foreign currency derivative contracts will be reported in the respective segment results to reflect the economic effects of the foreign currency derivative contracts without the resulting unrealized mark to fair value volatility. Corporate Profile The company conducts its global operations through the following reportable segments: Seed The company’s seed segment is a global leader in developing and supplying advanced germplasm and traits that produce optimum yield for farms around the world. The segment is a leader in many of the company’s key seed markets, including North America corn and soybeans, Europe corn and sunflower, as well as Brazil, India, South Africa and Argentina corn. The segment offers trait technologies that improve resistance to weather, disease, insects and enhance food and nutritional characteristics, herbicides used to control weeds, and digital solutions that assist farmer decision-making to help maximize yield and profitability. Crop Protection The crop protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. The segment offers crop protection solutions and digital solutions that provide farmers the tools they need to improve productivity and profitability, and help keep fields free of weeds, insects and diseases. The segment is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals.
(In millions) | Seed | Crop Protection | Total
As of and for the Year Ended December 31, 2023 |  |  |
Net sales | $ | 9,472 |  | $ | 7,754 |  | $ | 17,226 |
Segment operating EBITDA | 2,117 |  | 1,374 |  | 3,491 |
Depreciation and amortization | 814 |  | 397 |  | 1,211 |
Segment assets | 22,732 |  | 15,004 |  | 37,736 |
Investments in nonconsolidated affiliates | 39 |  | 76 |  | 115 |
Purchases of property, plant and equipment | 332 |  | 263 |  | 595 |
As of and for the Year Ended December 31, 2022 |  |  |
Net sales | 8,979 |  | 8,476 |  | 17,455 |
Segment operating EBITDA | 1,656 |  | 1,684 |  | 3,340 |
Depreciation and amortization | 839 |  | 384 |  | 1,223 |
Segment assets | 22,952 |  | 14,097 |  | 37,049 |
Investments in nonconsolidated affiliates | 35 |  | 67 |  | 102 |
Purchases of property, plant and equipment | 225 |  | 380 |  | 605 |
As of and for the Year Ended December 31, 2021 |  |  |
Net sales | 8,402 |  | 7,253 |  | 15,655 |
Segment operating EBITDA | 1,512 |  | 1,202 |  | 2,714 |
Depreciation and amortization | 866 |  | 377 |  | 1,243 |
Segment assets | 23,270 |  | 12,428 |  | 35,698 |
Investments in nonconsolidated affiliates | 29 |  | 47 |  | 76 |
Purchase of property, plant and equipment | 237 |  | 336 |  | 573 |
Reconciliation to Consolidated Financial Statements
Income (loss) from continuing operations after income taxes to segment operating EBITDA | For the Year Ended December 31, |
(In millions) | 2023 | 2022 | 2021 |
Income (loss) from continuing operations after income taxes | $ | 941 |  | $ | 1,216 |  | $ | 1,822 |  |
Provision for (benefit from) income taxes on continuing operations | 152 |  | 210 |  | 524 |  |
Income (loss) from continuing operations before income taxes | 1,093 |  | 1,426 |  | 2,346 |  |
Depreciation and amortization | 1,211 |  | 1,223 |  | 1,243 |  |
Interest income | (283) |  | (124) |  | (77) |  |
Interest expense | 233 |  | 79 |  | 30 |  |
Exchange (gains) losses - net | 397 |  | 229 |  | 54 |  |
Non-operating (benefits) costs - net 1 | 151 |  | (111) |  | (1,256) |  |
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges | — |  | — |  | — |  |
Significant items | 579 |  | 502 |  | 236 |  |
Corporate expenses | 110 |  | 116 |  | 138 |  |
Segment operating EBITDA | $ | 3,491 |  | $ | 3,340 |  | $ | 2,714 |  |
1.The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.
Segment assets to total assets (in millions) | December 31, 2023 | December 31, 2022
Total segment assets | $ | 37,736 |  | $ | 37,049 |
Corporate assets | 5,260 |  | 5,569 |
Total assets | $ | 42,996 |  | $ | 42,618 |
Significant Pre-tax (Charges) Benefits Not Included in Segment Operating EBITDA The years ended December 31, 2023, 2022 and 2021, respectively, included the following significant pre-tax (charges) benefits which are excluded from segment operating EBITDA:
(In millions) | Seed | Crop Protection | Corporate | Total
For the Year Ended December 31, 2023 |  |  |  |
Restructuring and asset related charges - net 1 | $ | (86) |  | $ | (228) |  | $ | (22) |  | $ | (336) |
Estimated settlement expense 2 | — |  | (204) |  | — |  | (204) |
Inventory write-offs 3 | (7) |  | — |  | — |  | (7) |
Spare parts write-off 4 | — |  | (12) |  | — |  | (12) |
Gain (loss) on sale of business, assets and equity investments 3 | 4 |  | 10 |  | — |  | 14 |
Employee Retention Credit | — |  | 3 |  | — |  | 3 |
AltEn facility remediation charges | (10) |  | — |  | — |  | (10) |
Seed sale associated with Russia Exit 3,5 | 18 |  | — |  | — |  | 18 |
Acquisition-related costs 6 | — |  | (45) |  | — |  | (45) |
Total | $ | (81) |  | $ | (476) |  | $ | (22) |  | $ | (579) |
(In millions) | Seed | Crop Protection | Corporate | Total
For the Year Ended December 31, 2022 |  |  |  |
Restructuring and asset related charges - net 1 | $ | (228) |  | $ | (37) |  | $ | (98) |  | $ | (363) |
Estimated settlement expense 2 | — |  | (87) |  | — |  | (87) |
Inventory write-offs 3 | (33) |  | — |  | — |  | (33) |
Gain (loss) on sale of business, assets and equity investments 3 | (5) |  | 15 |  | — |  | 10 |
Settlement costs associated with Russia Exit 3 | (8) |  | — |  | — |  | (8) |
Employee Retention Credit | 6 |  | 3 |  | — |  | 9 |
AltEn facility remediation charges | (33) |  | — |  | — |  | (33) |
Seed sale associated with Russia Exit 3,5 | 3 |  | — |  | — |  | 3 |
Total | $ | (298) |  | $ | (106) |  | $ | (98) |  | $ | (502) |
(In millions) | Seed | Crop Protection | Corporate | Total
For the Year Ended December 31, 2021 |  |  |  |
Restructuring and asset related charges - net 1 | $ | (152) |  | $ | (59) |  | $ | (78) |  | $ | (289) |
Equity securities mark-to-market gain (loss) | 47 |  | — |  | — |  | 47 |
Employee Retention Credit | 37 |  | 23 |  | — |  | 60 |
Contract termination | (30) |  | (24) |  | — |  | (54) |
Total | $ | (98) |  | $ | (60) |  | $ | (78) |  | $ | (236) |
1.Includes restructuring plans and asset related charges as well as accelerated prepaid amortization expense. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information. 2.Consists of estimated Lorsban® related charges. 3.Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions. 4.Incremental loss associated with activities related to the Crop Protection Operations Strategy Restructuring Program. 5.Includes a benefit of $18 million and $3 million for the years ended December 31, 2023 and 2022, respectively, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the Company was contractually required to purchase. It consists of $71 million and $8 million of net sales and $53 million and $5 million of cost of goods sold for the years ended December 31, 2023 and 2022, respectively. 6.Relates to acquisition-related costs, including transaction and third-party integration costs associated with the completed acquisitions of Stoller and Symborg as well as the recognition of the inventory fair value step-up. See Note 4 - Business Combinations, to the Consolidated Financial Statements, for additional information.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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