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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Segment Reporting Information, by Segment [Table Text Block]


(In millions)	Seed		Crop Protection		Total
As of and for the Year Ended December 31, 2021
Net sales	$	8,402	$	7,253	$	15,655
Segment operating EBITDA	$	1,512	$	1,202	$	2,714
Depreciation and amortization	$	866	$	377	$	1,243
Segment assets	$	23,270	$	12,428	$	35,698
Investments in nonconsolidated affiliates	$	29	$	47	$	76
Purchases of property, plant and equipment	$	237	$	336	$	573
As of and for the Year Ended December 31, 2020
Net sales	$	7,756	$	6,461	$	14,217
Segment operating EBITDA	$	1,208	$	1,004	$	2,212
Depreciation and amortization	$	798	$	379	$	1,177
Segment assets	$	23,751	$	13,099	$	36,850
Investments in nonconsolidated affiliates	$	22	$	44	$	66
Purchases of property, plant and equipment	$	225	$	250	$	475
As of and for the Year Ended December 31, 2019
Net sales	$	7,590	$	6,256	$	13,846
Pro forma segment operating EBITDA	$	1,040	$	1,066	$	2,106
Depreciation and amortization	$	628	$	372	$	1,000
Segment assets1	$	25,387	$	13,492	$	38,879
Investments in nonconsolidated affiliates	$	27	$	39	$	66
Purchase of property, plant and equipment	$	373	$	293	$	666

1.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 of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]


Income (loss) from continuing operations after income taxes to segment operating EBITDA	For the Year Ended December 31,
(In millions)	2021		2020		2019
Income (loss) from continuing operations after income taxes	$	1,822	$	756	$	(270)
Provision for (benefit from) income taxes on continuing operations	524		(81)		(46)
Income (loss) from continuing operations before income taxes	2,346		675		(316)
Depreciation and amortization	1,243		1,177		1,000
Interest income	(77)		(56)		(59)
Interest expense	30		45		136
Exchange (gains) losses - net 1	54		174		66
Non-operating (benefits) costs - net	(1,256)		(316)		(129)

Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges2	—
Significant items	236		388		991
Pro forma adjustments					298
Corporate expenses	138		125		119
Segment operating EBITDA3	$	2,714	$	2,212	$	2,106

1.Excludes a $(33) million foreign exchange loss for the year ended December 31, 2019 associated with the devaluation of the Argentine peso. See Note 9 - Supplementary Information, to the Consolidated Financial Statements, for additional information.

2.Effective January 1, 2021, on a prospective basis, the company excludes net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting. There were no unrealized mark-to-market (gains) losses for the years ended December 31, 2020 and 2019.

3.The year ended December 31, 2019 is presented on a pro forma basis, prepared in accordance with Article 11 of Regulation S-X that was in effect prior to recent amendments.

Reconciliation of Assets from Segment to Consolidated [Table Text Block]


Segment assets to total assets (in millions)	December 31, 2021		December 31, 2020
Total segment assets	$	35,698	$	36,850
Corporate assets	6,646		5,799

Total assets	$	42,344	$	42,649

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]


Other Items (in millions)	Segment Totals		Adjustments 1		Consolidated Totals




For the Year Ended December 31, 2019
Depreciation and amortization	$	1,000	$	599	$	1,599

Purchase of property, plant and equipment	$	666	$	497	$	1,163

1.See Note 5 - Divestitures and Other Transactions, to the Consolidated Financial Statements, for additional information

Schedule of Additional Segment Details [Table Text Block]


(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2021
Restructuring and Asset Related Charges - Net 1	$	(152)	$	(59)	$	(78)	$	(289)
Equity securities mark-to-market gain (loss)	47		—		—		47
Employee Retention Credit	37		23		—		60
Contract termination	(30)		(24)		—		(54)





Total	$	(98)	$	(60)	$	(78)	$	(236)


(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2020
Restructuring and Asset Related Charges - Net 1	$	(165)	$	(109)	$	(61)	$	(335)
Loss on Divestiture 2	—		(53)		—		(53)
Total	$	(165)	$	(162)	$	(61)	$	(388)


(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 20193
Restructuring and Asset Related Charges - Net 1	$	(213)	$	(23)	$	14	$	(222)
Integration and Separation Costs 4	—		—		(632)		(632)
Loss on Divestiture 5	(24)		—		—		(24)
Amortization of Inventory Step Up 6	(67)		—		—		(67)
Loss on Early Extinguishment of Debt 7	—		—		(13)		(13)
Argentina Currency Devaluation 8	—		—		(33)		(33)
Total	$	(304)	$	(23)	$	(664)	$	(991)

1.Includes Board approved restructuring plans and asset related charges as well as accelerated prepaid amortization. See Note 7 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

2.Includes a loss recorded in other income - net related to the sale of the La Porte site.

3.The year ended December 31, 2019 is presented on a pro forma basis, prepared in accordance with Article 11 of Regulation S-X that was in effect prior to recent amendments.

4.Integration and separation costs include costs incurred to prepare for and close the Merger, post-Merger integration expenses, and costs incurred to prepare for the Internal Reorganizations. Beginning in the second quarter of 2019, this includes both integration and separation costs.

5.Includes a loss recorded in other income - net related to DAS's sale of a joint venture related to synergy actions.

6.Includes a charge related to the amortization of the inventory that was stepped up to fair value in connection with the Merger.

7.Includes a loss on early extinguishment of debt related to the difference between the redemption price and the par value of the Make Whole Notes and Term Loan Facility, partially offset by the write-off of unamortized step-up related to the fair value step-up of EID's debt.

8.Includes a charge included in other income - net associated with remeasuring the company’s Argentine Peso net monetary assets, resulting from an unexpected August primary election result in Argentina. Throughout the three months ended September 30, 2019, the Argentine Peso dropped approximately a third of its value against the US dollar and in September of 2019, the country’s central bank announced new restrictions on foreign currency transactions.