Other Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The following table summarizes changes in the carrying amount of goodwill by segment for the three months ended March 31,

2023:

(In millions)	Crop Protection		Seed		Total
Balance as of December 31, 2022	$	4,618	$	5,344	$	9,962
Acquisitions1	519		—		519
Currency translation adjustments	13		14		27
Balance as of March 31, 2023	$	5,150	$	5,358	$	10,508

1.On March 1, 2023, the company completed the acquisitions of Stoller and Symborg, which are included in the crop protection segment. See Note 3 – Business Combinations, to the interim Consolidated Financial Statements, for additional information.

Other Intangibles Assets

The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows: 

(In millions)	March 31, 20231						December 31, 2022						March 31, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Intangible assets subject to amortization (Definite-lived):
Germplasm	$	6,291	$	(890)	$	5,401	$	6,291	$	(826)	$	5,465	$	6,265	$	(634)	$	5,631
Customer-related	2,407		(617)		1,790		1,912		(585)		1,327		1,953		(515)		1,438
Developed technology	1,845		(868)		977		1,485		(830)		655		1,485		(716)		769
Trademarks/trade names	2,107		(271)		1,836		2,009		(251)		1,758		2,011		(192)		1,819
Favorable supply contracts2													475		(420)		55
Other3	395		(276)		119		395		(271)		124		405		(262)		143
Total other intangible assets with finite lives	13,045		(2,922)		10,123		12,092		(2,763)		9,329		12,594		(2,739)		9,855
Intangible assets not subject to amortization (Indefinite-lived):
IPR&D	14		—		14		10		—		10		10		—		10
Total other intangible assets	14		—		14		10		—		10		10		—		10
Total	$	13,059	$	(2,922)	$	10,137	$	12,102	$	(2,763)	$	9,339	$	12,604	$	(2,739)	$	9,865

1.Includes the intangible assets acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 3 – Business Combinations, to the interim Consolidated Financial Statements, for additional information.

2.Effective November 1, 2022, the favorable supply contracts expired and were fully amortized.

3.Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements.

The aggregate pre-tax amortization expense from continuing operations for definite-lived intangible assets was $160 million and $179 million for the three months ended March 31, 2023 and 2022, respectively. The current estimated aggregate pre-tax amortization expense from continuing operations for the remainder of 2023 and each of the next five years is approximately $520 million, $679 million, $642 million, $631 million, $571 million and $549 million, respectively.