EID - Related Party Transactions (Notes)

9 Months Ended

Sep. 30, 2022

EID [Member]

Related Party Transaction [Line Items]

Related Party Transactions Disclosure [Text Block]

RELATED PARTY TRANSACTIONS

Transactions with Corteva

In the second quarter of 2019, EID entered into a related party revolving loan from Corteva, Inc., with a maturity date in 2024. As of September 30, 2022, December 31, 2021, and September 30, 2021, the outstanding related party loan balance was $1,066 million, $2,162 million, and $2,443 million, respectively (which approximates fair value), with interest rates of 4.12%, 1.67%, and 1.52%, respectively, and is reflected as long-term debt - related party in EID's interim Consolidated Balance Sheets. Additionally, EID has incurred tax deductible interest expense of $14 million and $33 million for the three and nine months ended September 30, 2022, respectively, and $11 million and $39 million for the three and nine months ended September 30, 2021, respectively, associated with the related party loan from Corteva, Inc.

As of September 30, 2022, December 31, 2021, and September 30, 2021, EID had payables to Corteva, Inc., of $24 million, $27 million and $61 million included in accrued and other current liabilities, respectively, and $122 million, $117 million, and $90 million, included in other noncurrent obligations, respectively, in the interim Consolidated Balance Sheets related to Corteva's indemnification liabilities to Dow and DuPont per the Separation Agreements (refer to page 24 of the Corteva, Inc. interim Consolidated Financial Statements for further details of the Separation Agreements).