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Revenue (Notes)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer REVENUE
Remaining Performance Obligations
Remaining performance obligations represent the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. The company applies the practical expedient to disclose the transaction price allocated to the remaining performance obligations for only those contracts with an original duration of more than one year. The transaction price allocated to remaining performance obligations with an original duration of more than one year related to material rights granted to customers for contract renewal options were $138 million, $134 million and $131 million at June 30, 2024, December 31, 2023 and June 30, 2023, respectively. The company expects revenue to be recognized for the remaining performance obligations evenly over the period of one year to six years.

Contract Balances
Contract liabilities primarily reflect deferred revenue from prepayments under contracts with customers where the company receives advance payments for products to be delivered in future periods. Corteva classifies deferred revenue as current or noncurrent based on the timing of when the company expects to recognize revenue. Contract assets primarily include amounts related to conditional rights to consideration for completed performance not yet invoiced. Accounts receivable are recorded when the right to consideration becomes unconditional.

Contract BalancesJune 30, 2024December 31, 2023June 30, 2023
(In millions)
Accounts and notes receivable - trade1
$6,388 $4,329 $6,575 
Contract assets - current2
29 27 27 
Contract assets - noncurrent3
71 67 66 
Deferred revenue - current413 3,406 656 
Deferred revenue - noncurrent4
110 108 107 
1.Included in accounts and notes receivable - net in the interim Consolidated Balance Sheets.
2.Included in other current assets in the interim Consolidated Balance Sheets.
3.Included in other assets in the interim Consolidated Balance Sheets.
4.Included in other noncurrent obligations in the interim Consolidated Balance Sheets.

Revenue recognized during the six months ended June 30, 2024 and 2023 from amounts included in deferred revenue at the beginning of the period was $3,150 million and $3,201 million, respectively.
Disaggregation of Revenue
Corteva's operations are classified into two reportable segments: Seed and Crop Protection. The company disaggregates its revenue by major product line and geographic region, as the company believes it best depicts the nature, amount and timing of its revenue and cash flows. Net sales by major product line are included below:
Three Months Ended June 30,Six Months Ended June 30,
(In millions)2024202320242023
    Corn$2,683 $2,673 $4,770 $4,652 
    Soybean1,317 1,255 1,609 1,524 
    Other oilseeds186 194 431 495 
    Other145 142 272 288 
Seed4,331 4,264 7,082 6,959 
    Herbicides946 986 1,832 2,228 
    Insecticides415 331 788 740 
    Fungicides250 252 545 611 
    Other170 212 357 391 
Crop Protection1,781 1,781 3,522 3,970 
Total$6,112 $6,045 $10,604 $10,929 

Sales are attributed to geographic regions based on customer location. Net sales by geographic region and segment are included below:
SeedThree Months Ended June 30,Six Months Ended June 30,
(In millions)2024202320242023
North America1
$3,753 $3,696 $5,224 $5,019 
EMEA2
251 231 1,169 1,243 
Latin America207 208 478 467 
Asia Pacific120 129 211 230 
Total$4,331 $4,264 $7,082 $6,959 

Crop ProtectionThree Months Ended June 30,Six Months Ended June 30,
(In millions)2024202320242023
North America1
$647 $623 $1,263 $1,502 
EMEA2
422 483 1,092 1,284 
Latin America443 400 687 693 
Asia Pacific269 275 480 491 
Total$1,781 $1,781 $3,522 $3,970 
1.Represents U.S. & Canada.
2.Europe, Middle East and Africa ("EMEA").