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Segment Reporting (Notes) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | SEGMENT INFORMATION Corteva’s reportable segments reflect 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). The company's CODM is the Chief Executive Officer. The primary measure used by Corteva's CODM for purposes of allocating resources to the segments and assessing segment performance is segment operating EBITDA. Segment operating EBITDA is primarily utilized in the annual planning and monthly forecasting processes. On a monthly basis, the CODM considers variances between comparable prior year actual results and current year actual or forecasted results when evaluating the company's success in delivering its innovative proprietary technology to farmers and monitoring of expected savings from cost and productivity actions. The CODM also utilizes segment operating EBITDA when evaluating the impacts of market-driven trends on segment performance, such as input costs and inflationary and currency impacts. 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 and environmental remediation and legal costs associated with legacy businesses and sites. 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, 2024 |  |  |
Net sales | $ | 9,545 |  | $ | 7,363 |  | $ | 16,908 |
Segment operating EBITDA | 2,219 |  | 1,272 |  | 3,491 |
Depreciation and amortization | 805 |  | 422 |  | 1,227 |
Segment assets | 21,246 |  | 14,241 |  | 35,487 |
Investments in nonconsolidated affiliates | 57 |  | 77 |  | 134 |
Purchases of property, plant and equipment | 365 |  | 232 |  | 597 |
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 |
Reconciliation of Segment Profitability
(In millions) | Seed | Crop Protection | Total
For the Year Ended December 31, 2024 |  |  |
Net sales | $ | 9,545 |  | $ | 7,363 |  | $ | 16,908 |
Cost of goods sold | 4,876 |  | 4,636 |  | 9,512 |
Other expenses 1 | 2,450 |  | 1,455 |  | 3,905 |
Segment operating EBITDA | $ | 2,219 |  | $ | 1,272 |  | $ | 3,491 |
(In millions) | Seed | Crop Protection | Total
For the Year Ended December 31, 2023 |  |  |
Net sales | $ | 9,472 |  | $ | 7,754 |  | $ | 17,226 |
Cost of goods sold | 4,982 |  | 4,913 |  | 9,895 |
Other expenses 1 | 2,373 |  | 1,467 |  | 3,840 |
Segment operating EBITDA | $ | 2,117 |  | $ | 1,374 |  | $ | 3,491 |
(In millions) | Seed | Crop Protection | Total
For the Year Ended December 31, 2022 |  |  |
Net sales | $ | 8,979 |  | $ | 8,476 |  | $ | 17,455 |
Cost of goods sold | 4,898 |  | 5,454 |  | 10,352 |
Other expenses 1 | 2,425 |  | 1,338 |  | 3,763 |
Segment operating EBITDA | $ | 1,656 |  | $ | 1,684 |  | $ | 3,340 |
1.Other expenses consisted primarily of selling, general and administrative expenses and research and development expense, net of depreciation add-back. 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) | 2024 | 2023 | 2022 |
Income (loss) from continuing operations after income taxes | $ | 863 |  | $ | 941 |  | $ | 1,216 |  |
Provision for (benefit from) income taxes on continuing operations | 412 |  | 152 |  | 210 |  |
Income (loss) from continuing operations before income taxes | $ | 1,275 |  | $ | 1,093 |  | $ | 1,426 |  |
Depreciation and amortization | 1,227 |  | 1,211 |  | 1,223 |  |
Interest income | (132) |  | (283) |  | (124) |  |
Interest expense | 233 |  | 233 |  | 79 |  |
Exchange (gains) losses - net | 284 |  | 397 |  | 229 |  |
Non-operating (benefits) costs - net | 174 |  | 151 |  | (111) |  |
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges | — |  | — |  | — |  |
Significant items | 315 |  | 579 |  | 502 |  |
Corporate expenses | 115 |  | 110 |  | 116 |  |
Segment operating EBITDA | $ | 3,491 |  | $ | 3,491 |  | $ | 3,340 |  |
Segment assets to total assets (in millions) | December 31, 2024 | December 31, 2023
Total segment assets | $ | 35,487 |  | $ | 37,736 |
Corporate assets | 5,338 |  | 5,260 |
Total assets | $ | 40,825 |  | $ | 42,996 |
Significant Pre-tax (Charges) Benefits Not Included in Segment Operating EBITDA The years ended December 31, 2024, 2023 and 2022, 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, 2024 |  |  |  |
Restructuring and asset related charges - net 1 | $ | (55) |  | $ | (142) |  | $ | (91) |  | $ | (288) |
Estimated settlement expense 2 | — |  | (101) |  | — |  | (101) |
Inventory write-offs 3 | 2 |  | — |  | — |  | 2 |
Gain (loss) on sale of business, assets and equity investments 3 | 4 |  | 3 |  | — |  | 7 |
Acquisition-related costs 6 | — |  | (6) |  | — |  | (6) |
Insurance proceeds 7 | — |  | 71 |  | — |  | 71 |
Total | $ | (49) |  | $ | (175) |  | $ | (91) |  | $ | (315) |
(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) |
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. 7.Includes proceeds received related to prior significant items.

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- Definition The entire disclosure for reporting segments including data and tables. 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