XML 141 R21.htm IDEA: XBRL DOCUMENT
v3.25.2

Stockholders' Equity | 6 Months Ended
--- | ---
Jun. 30, 2025
Equity [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | STOCKHOLDERS' EQUITY Share Buyback Plan On November 19, 2024, Corteva, Inc. announced that its Board of Directors authorized a $3 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2024 Share Buyback Plan"). The timing, price and volume of purchases will be based on market conditions, relevant securities laws and other factors. In connection with the 2024 Share Buyback Plan, the company repurchased and retired 280,000 shares in the open market for a total cost (excluding excise taxes) of $20 million during the three and six months ended June 30, 2025. On September 13, 2022, Corteva, Inc. announced that its Board of Directors authorized a $2 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2022 Share Buyback Plan"). The timing, price and volume of purchases were based on market conditions, relevant securities laws and other factors. In connection with the 2022 Share Buyback Plan, the company repurchased and retired 3,502,000 and 7,815,000 shares in the open market for a total cost (excluding excise taxes) of $230 million and $500 million for the three and six months ended June 30, 2025, respectively, and 4,486,000 and 9,116,000 shares in the open market for a total cost (excluding excise taxes) of $250 million and $500 million for the three and six months ended June 30, 2024, respectively. Included within the shares repurchased during the six months ended June 30, 2025 and the year ended December 31, 2024 were $145 million and $125 million, respectively, of shares from the master trust fund of the principal U.S. pension plan, as part of the Pension Investment Committee's periodic portfolio rebalancing process. Shares were repurchased by the company at the prevailing market rate authorized and agreed to by a third-party independent fiduciary for the plan. Shares repurchased pursuant to Corteva's share buyback plans are immediately retired upon repurchase. Repurchased common stock is reflected as a reduction of stockholders' equity. The company's accounting policy related to its share repurchases is to reduce its common stock based on the par value of the shares and to reduce its retained earnings for the excess of the repurchase price over the par value. When Corteva has an accumulated deficit balance, the excess over the par value is applied to additional paid-in capital ("APIC"). When Corteva has retained earnings, the excess is charged entirely to retained earnings. Noncontrolling Interest Corteva, Inc. owns 100 percent of the outstanding common shares of EIDP. However, EIDP has preferred stock outstanding to third parties which is accounted for as a non-controlling interest in Corteva's interim Consolidated Balance Sheets. Each share of EIDP Preferred Stock - $4.50 Series and EIDP Preferred Stock - $3.50 Series issued and outstanding at the effective date of the Corteva Distribution remains issued and outstanding as to EIDP and was unaffected by the Corteva Distribution. Below is a summary of the EIDP Preferred Stock at June 30, 2025, December 31, 2024 and June 30, 2024, which is classified as noncontrolling interests in Corteva's interim Consolidated Balance Sheets.
(Shares in thousands) | Number of Shares
Authorized | 23,000
$4.50 Series, callable at $120 | 1,673
$3.50 Series, callable at $102 | 700
Other Comprehensive Income (Loss) The changes and after-tax balances of components comprising accumulated other comprehensive income (loss) are summarized below:
(In millions) | Cumulative Translation Adjustment 1 | Derivative Instruments | Pension Benefit Plans | Other Benefit Plans | Unrealized Gain (Loss) on Investments | Total
2024 |  |  |  |  |  |
Balance at January 1, 2024 | $ | (2,458) |  | $ | (55) |  | $ | (353) |  | $ | 189 |  | $ | — |  | $ | (2,677) |
Other comprehensive income (loss) before reclassifications | (630) |  | (7) |  | 1 |  | — |  | (23) |  | (659) |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  | 17 |  | — |  | (5) |  | — |  | 12 |
Net other comprehensive income (loss) | (630) |  | 10 |  | 1 |  | (5) |  | (23) |  | (647) |
Balance at June 30, 2024 | $ | (3,088) |  | $ | (45) |  | $ | (352) |  | $ | 184 |  | $ | (23) |  | $ | (3,324) |
2025 |  |  |  |  |  |
Balance at January 1, 2025 | $ | (3,472) |  | $ | 16 |  | $ | (226) |  | $ | 219 |  | $ | (6) |  | $ | (3,469) |
Other comprehensive income (loss) before reclassifications | 869 |  | (89) |  | 3 |  | — |  | 5 |  | 788 |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  | 45 |  | (1) |  | (7) |  | — |  | 37 |
Net other comprehensive income (loss) | 869 |  | (44) |  | 2 |  | (7) |  | 5 |  | 825 |
Balance at June 30, 2025 | $ | (2,603) |  | $ | (28) |  | $ | (224) |  | $ | 212 |  | $ | (1) |  | $ | (2,644) |
1.The cumulative translation adjustment gain for the six months ended June 30, 2025 was primarily driven by the weakening of the USD against the Euro ("EUR"), Brazilian Real ("BRL") and Mexico Peso ("MXN"). The cumulative translation adjustment loss for the six months ended June 30, 2024 was primarily driven by the strengthening of the USD against the Brazilian Real (“BRL”), Swiss Franc (“CHF”) and Euro (“EUR”). The tax (expense) benefit on the net activity related to each component of other comprehensive income (loss) was as follows:
| Three Months Ended June 30, | Six Months Ended June 30,
(In millions) | 2025 | 2024 | 2025 | 2024
Derivative instruments | $ | 16 |  | $ | (10) |  | $ | 3 |  | $ | (9) |
Pension benefit plans - net | — |  | — |  | 1 |  | — |
Other benefit plans - net | — |  | 2 |  | 2 |  | 2 |
Unrealized gains (losses) on investments | — |  | — |  | — |  | — |
(Provision for) benefit from income taxes related to other comprehensive income (loss) items | $ | 16 |  | $ | (8) |  | $ | 6 |  | $ | (7) |
A summary of the reclassifications out of accumulated other comprehensive income (loss) is provided as follows:
| Three Months Ended June 30, | Six Months Ended June 30,
(In millions) | 2025 | 2024 | 2025 | 2024
Derivative instruments 1: | $ | 55 |  | $ | 10 |  | $ | 68 |  | $ | 26 |
Tax (benefit) expense 2 | (12) |  | (4) |  | (23) |  | (9) |
After-tax | $ | 43 |  | $ | 6 |  | $ | 45 |  | $ | 17 |
Amortization of pension benefit plans: |  |  |  |
Prior service (benefit) cost 3,4 | $ | (1) |  | $ | — |  | $ | (2) |  | $ | (1) |
Total before tax | $ | (1) |  | $ | — |  | $ | (2) |  | $ | (1) |
Tax (benefit) expense 2 | — |  | 1 |  | 1 |  | 1 |
After-tax | $ | (1) |  | $ | 1 |  | $ | (1) |  | $ | — |
Amortization of other benefit plans: |  |  |  |
Prior service (benefit) cost 3,4 | $ | — |  | $ | (1) |  | $ | — |  | $ | (1) |
Actuarial (gains) losses 3,4 | (4) |  | (3) |  | (9) |  | (6) |
Total before tax | $ | (4) |  | $ | (4) |  | $ | (9) |  | $ | (7) |
Tax (benefit) expense 2 | — |  | 1 |  | 2 |  | 2 |
After-tax | $ | (4) |  | $ | (3) |  | $ | (7) |  | $ | (5) |
Total reclassifications for the period, after-tax | $ | 38 |  | $ | 4 |  | $ | 37 |  | $ | 12 |
1.Reflected in cost of goods sold in the interim Consolidated Statements of Operations. 2.Reflected in provision for (benefit from) income taxes from continuing operations in the interim Consolidated Statements of Operations. 3.These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit (credit) cost of the company's pension and other benefit plans. See Note 14 - Pension Plans and Other Post Employment Benefits, to the interim Consolidated Financial Statements, for additional information. 4.Reflected in other income (expense) - net in the interim Consolidated Statements of Operations.

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

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478448/946-505-50-6 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-6 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-16 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration