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Revenue (Notes)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer REVENUE
Remaining Performance Obligations
Remaining performance obligations represent the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. The company applies the practical expedient to disclose the transaction price allocated to the remaining performance obligations for only those contracts with an original duration of more than one year. The transaction price allocated to remaining performance obligations with an original duration of more than one year related to material rights granted to customers for contract renewal options were $140 million, $134 million and $135 million at September 30, 2024, December 31, 2023 and September 30, 2023, respectively. The company expects revenue to be recognized for the remaining performance obligations evenly over the period of one year to six years.

Contract Balances
Contract liabilities primarily reflect deferred revenue from prepayments under contracts with customers where the company receives advance payments for products to be delivered in future periods. Corteva classifies deferred revenue as current or noncurrent based on the timing of when the company expects to recognize revenue. Contract assets primarily include amounts related to conditional rights to consideration for completed performance not yet invoiced. Accounts receivable are recorded when the right to consideration becomes unconditional.

Contract BalancesSeptember 30, 2024December 31, 2023September 30, 2023
(In millions)
Accounts and notes receivable - trade1
$5,501 $4,329 $5,320 
Contract assets - current2
$29 $27 $27 
Contract assets - noncurrent3
$73 $67 $67 
Deferred revenue - current$429 $3,406 $552 
Deferred revenue - noncurrent4
$115 $108 $109 
1.Included in accounts and notes receivable - net in the interim Consolidated Balance Sheets.
2.Included in other current assets in the interim Consolidated Balance Sheets.
3.Included in other assets in the interim Consolidated Balance Sheets.
4.Included in other noncurrent obligations in the interim Consolidated Balance Sheets.

Revenue recognized during the nine months ended September 30, 2024 and 2023 from amounts included in deferred revenue at the beginning of the period was $3,314 million and $3,287 million, respectively.
Disaggregation of Revenue
Corteva's operations are classified into two reportable segments: Seed and Crop Protection. The company disaggregates its revenue by major product line and geographic region, as the company believes it best depicts the nature, amount and timing of its revenue and cash flows. Net sales by major product line are included below:
Three Months Ended September 30,Nine Months Ended September 30,
(In millions)2024202320242023
    Corn$315 $487 $5,085 $5,139 
    Soybean164 189 1,773 1,713 
    Other oilseeds135 142 566 637 
    Other77 60 349 348 
Seed691 878 7,773 7,837 
    Herbicides736 815 2,568 3,043 
    Insecticides437 416 1,225 1,156 
    Fungicides216 226 761 837 
    Other246 255 603 646 
Crop Protection1,635 1,712 5,157 5,682 
Total$2,326 $2,590 $12,930 $13,519 

Sales are attributed to geographic regions based on customer location. Net sales by geographic region and segment are included below:
SeedThree Months Ended September 30,Nine Months Ended September 30,
(In millions)2024202320242023
North America1
$170 $173 $5,394 $5,192 
EMEA2
196 198 1,365 1,441 
Latin America218 380 696 847 
Asia Pacific107 127 318 357 
Total$691 $878 $7,773 $7,837 

Crop ProtectionThree Months Ended September 30,Nine Months Ended September 30,
(In millions)2024202320242023
North America1
$440 $399 $1,703 $1,901 
EMEA2
219 271 1,311 1,555 
Latin America771 844 1,458 1,537 
Asia Pacific205 198 685 689 
Total$1,635 $1,712 $5,157 $5,682 
1.Represents U.S. & Canada.
2.Europe, Middle East and Africa ("EMEA").