SEPARATION FROM DOWDUPONT (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of income (loss) from discontinued operations

The results of operations of AgCo and SpecCo are presented as discontinued operations in the consolidated statements of income and are summarized in the following table:



Results of Operations of AgCo and SpecCo	2019 ¹			2018			2017
In millions
Net sales	$	2,953		$	12,187		$	12,337
Cost of sales	1,804			7,668			7,769
Research and development expenses	175			761			854
Selling, general and administrative expenses	262			1,108			1,143
Amortization of intangibles	61			249			255
Restructuring and asset related charges - net	78			411			376
Integration and separation costs	—			—			18
Equity in earnings of nonconsolidated affiliates	28			400			372
Sundry income (expense) - net	(18		)	(13		)	245
Interest income	3			26			40
Interest expense and amortization of debt discount	7			56			61
Income from discontinued operations before income taxes	$	579		$	2,347		$	2,518
Provision for income taxes	134			512			636
Income from discontinued operations, net of tax	$	445		$	1,835		$	1,882

Schedule of assets and liabilities of discontinued operations

The carrying amount of major classes of assets and liabilities related to the distribution of AgCo and SpecCo consisted of the following:



Carrying Values of AgCo and SpecCo ¹	Dec 31, 2018
In millions	Dec 31, 2018
Accounts and notes receivable - Trade	$	2,768
Accounts and notes receivable - Other	773
Inventories	2,826
Other current assets	151
Investment in nonconsolidated affiliates	612
Other investments	2
Noncurrent receivables	35
Net property	3,014
Goodwill	7,590
Other intangible assets	1,830
Deferred income tax assets	239
Deferred charges and other assets	60
Total assets of discontinued operations	$	19,900
Notes payable	$	7
Long-term debt due within one year	4
Accounts payable - Trade	1,118
Accounts payable - Other	868
Income taxes payable	234
Accrued and other current liabilities	716
Long-Term Debt	5
Deferred income tax liabilities	568
Pension and other postretirement benefits - noncurrent	306
Other noncurrent obligations	662
Total liabilities of discontinued operations	$	4,488

Includes assets and liabilities of consolidated variable interest entities related to discontinued operations.