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Pension Plans and Other Post Employment Benefit Plans
 6 Months Ended
Jun. 30, 2020
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block] PENSION PLANS AND OTHER POST EMPLOYMENT BENEFITS

In connection with the Corteva Distribution, the company retained the benefit obligations relating to EID's principal U.S. pension plan, several other U.S. and non-U.S. pension plans and other post employment benefit plans ("OPEB"). Corteva entered into an employee matters agreement with DuPont which provides that employees of DuPont no longer participate in the benefits sponsored or maintained by the company as of the date of the Corteva Distribution and transferred certain EID's pension and OPEB obligations and associated assets to DuPont. As a result of the transfer, about $5.8 billion unfunded obligations of the pension and OPEB plans remained with Corteva, of which $319 million is supported by funding under the Trust agreement.

As a result of the Corteva Distribution, the company re-measured OPEB plans as of June 1, 2019. In connection with the re-measurement, the company updated the discount rate assumed at December 31, 2018 from 4.23% to 3.64%. The re-measurement resulted in an increase of $114 million to the company’s OPEB benefit obligations with a corresponding loss effect within other comprehensive income (loss) for the three and six months ended June 30, 2019.

The following sets forth the components of the company's net periodic benefit (credit) cost for defined benefit pension plans and other post employment benefits:
 
Three Months Ended June 30,
Six Months Ended June 30,
(In millions)
2020
2019
2020
2019
Defined Benefit Pension Plans:
 
 
 
 
Service cost
$
8

$
12

$
13

$
32

Interest cost
140

199

281

407

Expected return on plan assets
(249
)
(282
)
(500
)
(586
)
Amortization of unrecognized loss
1

1

2

2

Amortization of prior service benefit
(1
)
—

(1
)
—

Settlement/curtailment loss (gain)
1

(1
)
3

(1
)
Net periodic benefit credit - Total
$
(100
)
$
(71
)
$
(202
)
$
(146
)
Less: Discontinued operations1
—

(9
)
—

(17
)
Net periodic benefit credit - Continuing operations
$
(100
)
$
(62
)
$
(202
)
$
(129
)
Other Post Employment Benefits:
 
 
 
 
Service cost
$
—

$
1

$
1

$
3

Interest cost
17

22

33

45

Amortization of unrecognized gain
—

(1
)
—

(1
)
Net periodic benefit cost - Continuing operations
$
17

$
22

$
34

$
47


1. 
Includes non-service related components of net periodic benefit credit of $(16) million and $(37) million for the three and six months ended June 30, 2019, respectively.