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EID Segment FN (Notes)
 3 Months Ended
Mar. 31, 2020
Segment Reporting Information [Line Items]  
Segment Reporting Disclosure [Text Block] SEGMENT INFORMATION
Segment operating EBITDA is the primary measure of segment profitability used by Corteva’s chief operating decision maker ("CODM"). The company defines segment operating EBITDA as earnings (i.e., income from continuing operations before income taxes) before interest, depreciation, amortization, corporate expenses, non-operating (benefits) costs - net and foreign exchange gains (losses), excluding the impact of significant items. Non-operating (benefits) costs - net consists of non-operating pension and other post-employment benefit (OPEB) costs, tax indemnification adjustments, environmental remediation and legal costs associated with legacy EID 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. For purposes of the three months ended March 31, 2019, segment operating EBITDA is calculated on a pro forma basis, as this is the manner in which the CODM assesses performance and allocates resources.

Pro forma adjustments used in the calculation of pro forma segment operating EBITDA for the first quarter of 2019 were determined in accordance with Article 11 of Regulation S-X. These adjustments give effect to the Merger, the debt retirement transactions related to paying off or retiring portions of EID’s existing debt liabilities (as discussed in Note 13 - Short-Term Borrowings, Long-Term Debt and Available Credit Facilities, to the interim Consolidated Financial Statements), and the separation and distribution to DowDuPont stockholders of all the outstanding shares of Corteva common stock as if they had been consummated on January 1, 2016.

As of and for the Three Months Ended March 31,
(In millions)
Seed
Crop Protection
Total
2020
 

 

 

Net sales
$
2,455

$
1,501

$
3,956

Segment operating EBITDA
$
581

$
238

$
819

Segment assets1,2
$
25,857

$
13,251

$
39,108

 




 
2019
 

 

 

Net sales
$
1,967

$
1,429

$
3,396

Pro forma segment operating EBITDA
$
325

$
220

$
545

Segment assets1
$
30,259

$
9,782

$
40,041

1.
Segment assets at December 31, 2019 were $25,387 million and $13,492 million for Seed and Crop Protection, respectively.
2. On June 1, 2019, as a result of changes in reportable segments, $3,382 million of goodwill was reallocated from the Seed reportable segment to the Crop Protection reportable segment.  This change was not reflected in segment assets prior to June 1, 2019.     

Reconciliation to interim Consolidated Financial Statements
Income (loss) from continuing operations after income taxes to segment operating EBITDA

(In millions)
Three Months Ended
March 31,
2020
2019 1
Income (loss) from continuing operations after income taxes
$
281

$
(184
)
Provision for (benefit from) income taxes on continuing operations
127

(67
)
Income (loss) from continuing operations before income taxes
408

(251
)
Depreciation and amortization
283

258

Interest income
(18
)
(16
)
Interest expense
10

59

Exchange losses - net 
61

27

Non-operating benefits - net
(73
)
(42
)
Significant items
123

185

Pro forma adjustments
 
298

Corporate expenses
25

27

Segment operating EBITDA
$
819

$
545

1.
Period is presented on a pro forma basis, prepared in accordance with Article 11 of Regulation S-X.

Segment assets to total assets (in millions)
March 31, 2020
December 31, 2019
March 31, 2019
Total segment assets
$
39,108

$
38,879

$
40,041

Corporate assets
3,870

3,518

3,991

Assets related to discontinued operations1
—

—

66,070

Total assets
$
42,978

$
42,397

$
110,102


1.
See Note 3 - Divestitures and Other Transactions for additional information on discontinued operations.

Significant Pre-tax Charges Not Included in Pro Forma Segment Operating EBITDA
The three months ended March 31, 2020 and 2019, respectively, included the following significant pre-tax charges which are excluded from segment operating EBITDA:
(In millions)
Seed
Crop Protection
Corporate
Total
For the Three Months Ended March 31, 2020
 
 
 
 
Restructuring and Asset Related Charges - Net 1
$
(10
)
$
(18
)
$
(42
)
$
(70
)
Loss on Divestiture2
—

(53
)
—

(53
)
Total
$
(10
)
$
(71
)
$
(42
)
$
(123
)
(In millions)
Seed
Crop Protection
Corporate
Total
For the Three Months Ended March 31, 2019
 
 
 
 
Restructuring and Asset Related Charges - Net 1
$
(27
)
$
(23
)
$
(11
)
$
(61
)
Integration Costs 3
—

—

(100
)
(100
)
Loss on Divestiture 4
(24
)
—

—

(24
)
Total
$
(51
)
$
(23
)
$
(111
)
$
(185
)
1.
Includes Board approved restructuring plans and asset related charges as well as accelerated prepaid amortization expense. See Note 5 - Restructuring and Asset Related Charges - Net, for additional information.
2.
Includes a loss recorded in other income - net related to the expected sale of the La Porte site.
3.
Integration costs include costs incurred to prepare for and close the Merger as well as post-Merger integration expenses.
4.
Includes a loss recorded in other income - net related to DAS’s sale of a joint venture related to synergy actions.
EID [Member]  
Segment Reporting Information [Line Items]  
Segment Reporting Disclosure [Text Block] SEGMENT INFORMATION

There are no differences in reporting structure or segments between Corteva, Inc. and EID. In addition, there are no differences between Corteva, Inc. and EID segment net sales, segment operating EBITDA or pro forma segment operating EBITDA, segment assets, or significant items by segment; refer to page 39 of the Corteva, Inc. interim Consolidated Financial Statements for background information on the segments as well as further details regarding segment metrics. The tables below reconcile segment pro forma operating EBITDA to loss from continuing operations after income taxes, as differences exist between Corteva, Inc. and EID.

Reconciliation to interim Consolidated Financial Statements
Income (loss) from continuing operations after income taxes to segment operating EBITDA

(In millions)
Three Months Ended
March 31,
2020
2019 1
Income (loss) from continuing operations after income taxes
$
257

$
(184
)
Provision for (benefit from) income taxes on continuing operations
119

(67
)
Income (loss) from continuing operations before income taxes
376

(251
)
Depreciation and amortization
283

258

Interest income
(18
)
(16
)
Interest expense
42

59

Exchange losses - net
61

27

Non-operating benefits - net
(73
)
(42
)
Significant items
123

185

Pro forma adjustments
 
298

Corporate expenses
25

27

Segment operating EBITDA
$
819

$
545


1.
Period is presented on a pro forma basis, prepared in accordance with Article 11 of Regulation S-X.