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EID Quarterly FN (Notes)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information [Text Block] QUARTERLY FINANCIAL DATA (UNAUDITED)
 
For the quarter ended
In millions, except per share amounts
March 31,
June 30,
September 30,
December 31,
2019
 
 
 
 
 
 
 
 
Net sales
$
3,396

 
$
5,556

 
$
1,911

 
$
2,983

 
Cost of goods sold1
2,211

 
3,047

 
1,349

 
1,968

 
Restructuring and asset related charges - net2
61

 
60

 
46

 
55

 
Integration and separation costs2
212

 
330

 
152

 
50

 
(Loss) income from continuing operations after income taxes
(184
)
4 
483

5 
(527
)
6,7 
(42
)
8 
Net income (loss) attributable to Corteva2
164

 
(608
)
 
(494
)
 
(21
)
 
(Loss) earnings per common share, continuing operations - basic3
(0.26
)
 
0.63

 
(0.69
)
 
(0.06
)
 
(Loss) earnings per common share, continuing operations - diluted3
(0.26
)
 
0.63

 
(0.69
)
 
(0.06
)
 
2018
 
 
 
 
 
 
 
 
Net sales
$
3,794

 
$
5,731

 
$
1,947

 
$
2,815

 
Cost of goods sold1
2,752

 
3,687

 
1,485

 
2,024

 
Restructuring and asset related charges - net2
130

 
101

 
235

 
228

 
Integration and separation costs2
195

 
249

 
253

 
295

 
Goodwill impairment charge2
—

 
—

 
4,503

 
—

 
(Loss) income from continuing operations after income taxes9
(438
)
10 
375

11 
(5,642
)
12 
(1,070
)
4,5 
Net (loss) income attributable to Corteva2
(107
)
 
694

 
(5,121
)
 
(531
)
 
(Loss) earnings per common share, continuing operations - basic3
(0.60
)
 
0.49

 
(7.54
)
 
(1.43
)
 
(Loss) earnings per common share, continuing operations - diluted3
(0.60
)
 
0.49

 
(7.54
)
 
(1.43
)
 
1.
Includes charges of $(639) million, $(676) million, $(109) million, and $(130) million for the first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, and $(205) million, $(52) million, and $(15) million for the first quarter 2019, second quarter 2019, and third quarter 2019, respectively, related to the amortization of inventory step-up as a result of the Merger.
2.
See Note 2 - Summary of Significant Accounting Polices, Note 7 - Restructuring and Asset Related Charges - Net, Note 5 - Divestitures and Other Transactions, and Note 15 - Goodwill and Other Intangible Assets, for additional information related to integration and separation costs, restructuring and asset related charges - net, discontinued operations, and goodwill impairment charge, respectively.
3.
Earnings per share for the year may not equal the sum of quarterly earnings per share due to rounding and the changes in average share calculations.
4.
First quarter 2019 includes a $(24) million loss recorded in other income (expense) - net related to Historical Dow’s sale of a joint venture related to synergy actions. Fourth quarter 2018 includes a $(53) million loss recorded in other income (expense) - net related to the deconsolidation of a subsidiary.
5.
Includes a loss on early extinguishment of debt of $(13) million in the second quarter of 2019 and $(81) million in the fourth quarter 2018 related to the retirement of some of the company's debt. See Note 17 - Short-Term Borrowings, Long-Term Debt and Available Credit Facilities, for additional information.
6.
Third quarter 2019 includes a $(33) million charge included in other income (expense) - net associated with remeasuring the company’s Argentine Peso net monetary assets, resulting from an unexpected August primary election result in Argentina. 
7.
Third quarter 2019 includes a tax benefit of $38 million related to Swiss Tax Reform. See Note 10 - Income Taxes, for additional information.
8.
Fourth quarter 2019 includes a tax benefit of $34 million related to the impact of the release of a tax valuation allowance recorded against the net deferred tax asset position of a Switzerland legal entity. See Note 10 - Income Taxes, for additional information.
9.
Includes tax (charges) benefits of $(64) million, $(7) million, $16 million, and $(274) million in the first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to The Act. See Note 10 - Income Taxes, for additional information.
10.
First quarter 2018 includes a $(50) million foreign exchange loss related to adjustments to foreign currency exchange contracts as a result of U.S. tax reform.
11.
Second quarter 2018 includes a $24 million gain recorded in other income (expense) - net related to an asset sale.
12.
Includes a tax charge of $(75) million in the third quarter 2018 related to the establishment of a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil, a tax charge of $(25) million related to an internal legal entity restructuring associated with the Business Separations, and a tax benefit of $114 million related to the company's discretionary pension contribution in 2018 which was deducted on a 2017 tax return. See Note 10 - Income Taxes, for additional information.


As discussed in Note 1, Background and Basis of Presentation, the company has recasted its financial statements for the divestiture of EID ECP, the divestiture of the EID Specialty Products Entities, and for the DAS common control business combination. Below is a reconciliation from the amounts previously reported in the company's quarterly reports on Form 10-Q or annual report on Form 10-K to the recasted amounts reported above for the applicable periods. Prior to the Separation, the company did not report earnings per share information for the Successor periods as all of the company's issued and outstanding common stock was held by DowDuPont; as such, there is no reconciliation for those amounts below.
For the Quarter Ended March 31, 2019
(In millions)
Historical EID
Discontinued Operations and Other Adjustments1
DAS
Corteva
Net sales
$
6,288

$
(4,341
)
$
1,449

$
3,396

Cost of goods sold
$
4,235

$
(2,963
)
$
939

$
2,211

Restructuring and asset related charges - net
$
55

$
(43
)
$
49

$
61

Integration and separation costs
$
405

$
(193
)
$
—

$
212

Income (loss) from continuing operations after income taxes
$
89

$
(369
)
$
96

$
(184
)
Net income attributable to Corteva
$
85

$
(11
)
$
90

$
164

For the Quarter Ended December 31, 2018
(In millions)
Historical EID
Discontinued Operations and Other Adjustments1
DAS
Corteva
Net sales
$
5,741

$
(4,350
)
$
1,424

$
2,815

Cost of goods sold
$
3,980

$
(3,026
)
$
1,070

$
2,024

Restructuring and asset related charges - net
$
115

$
(9
)
$
122

$
228

Integration and separation costs
$
449

$
(154
)
$
—

$
295

Loss from continuing operations after income taxes
$
(351
)
$
(573
)
$
(146
)
$
(1,070
)
Net loss attributable to Corteva
$
(354
)
$
(28
)
$
(149
)
$
(531
)
For the Quarter Ended March 31, 2018
(In millions)
Historical EID
Discontinued Operations and Other Adjustments1
DAS
Corteva
Net sales
$
6,699

$
(4,388
)
$
1,483

$
3,794

Cost of goods sold
$
4,847

$
(3,003
)
$
908

$
2,752

Restructuring and asset related charges - net
$
97

$
(38
)
$
71

$
130

Integration and separation costs
$
255

$
(60
)
$
—

$
195

Loss from continuing operations after income taxes
$
(216
)
$
(355
)
$
133

$
(438
)
Net loss attributable to Corteva
$
(228
)
$
(1
)
$
122

$
(107
)
1.
Reflects discontinued operations of EID's ECP and Specialty Products businesses and adjustments primarily related to the elimination of intercompany transactions between Historical EID and Dow AgroSciences for periods subsequent to the Merger, as if they were combined affiliates.
EID [Member]  
Quarterly Financial Information [Text Block]

The only difference between Corteva, Inc. and EID for Q1 2019 and prior quarters is the treatment of the preferred shares, which are treated as noncontrolling interests at the Corteva, Inc. level. For quarters subsequent to Q1 2019, in addition to the treatment of the preferred shares, there are differences in interest expense, (loss) income from continuing operations after income taxes, net and net (loss) income attributable to EID, as a result of the interest expense (and associated tax benefit) on the related party loan between Corteva, Inc. and EID. Refer to page F-92 of the Corteva, Inc. Consolidated Financial Statements for discussion of quarterly information that does not differ between Corteva, Inc. and EID. The tables below represent the quarterly information for EID for which there are differences from Corteva, Inc. Refer to page F-92 of the Corteva, Inc. Consolidated Financial Statements for discussion of significant items by quarter.
 
For the quarter ended
In millions (unaudited)
March 31,
June 30,
September 30,
December 31,
2019
 
 
 
 
 
 
 
 
(Loss) income from continuing operations after income taxes
$
(184
)
 
$
460

 
$
(557
)
 
$
(70
)
 
Net income (loss) attributable to EID
$
166

 
$
(626
)
 
$
(524
)
 
$
(46
)
 
2018
 
 
 
 
 
 
 
 
Net (loss) income attributable to EID
$
(105
)
 
$
697

 
$
(5,119
)
 
$
(528
)
 


As discussed in Note 1, Background and Basis of Presentation, of the Corteva, Inc. Consolidated Financial Statements, the company has recasted its financial statements for the divestiture of EID ECP, the divestiture of the EID Specialty Products Entities, and for the DAS common control business combination. Below is a reconciliation from the amounts previously reported in the company's quarterly reports on Form 10-Q or annual report on Form 10-K to the recasted amounts reported above for the applicable periods for those items for which differences exist between Corteva, Inc. and EID. Refer to page F-93 of the Corteva, Inc. Consolidated Financial Statements for reconciliations for those line items that do not differ between Corteva, Inc. and EID.
For the Quarter Ended March 31, 2019
(In millions)
Historical EID
Discontinued Operations and Other Adjustments1
DAS
EID
Income (loss) from continuing operations after income taxes
$
89

$
(369
)
$
96

$
(184
)
Net income attributable to EID
$
85

$
(9
)
$
90

$
166

For the Quarter Ended December 31, 2018
(In millions)
Historical EID
Discontinued Operations and Other Adjustments1
DAS
EID
Net loss attributable to EID
$
(354
)
$
(25
)
$
(149
)
$
(528
)
For the Quarter Ended March 31, 2018
(In millions)
Historical EID
Discontinued Operations and Other Adjustments1
DAS
EID
Net loss attributable to EID
$
(228
)
$
1

$
122

$
(105
)
1.
Reflects discontinued operations of EID's ECP and Specialty Products businesses and adjustments primarily related to the elimination of intercompany transactions between Historical EID and Dow AgroSciences for periods subsequent to the Merger, as if they were combined affiliates.