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Supplementary Information (Tables)
9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Other Nonoperating Income (Expense)
Other Income (Expense) - NetThree Months Ended September 30,Nine Months Ended September 30,
(In millions)2024202320242023
Interest income$33 $59 $93 $153 
Equity in earnings (losses) of affiliates - net— (2)
Net gain (loss) on sales of businesses and other assets— 10 17 11 
Net exchange gains (losses)1
(97)(102)(234)(242)
Non-operating pension and other post employment benefit credits (costs)2
(37)(30)(109)(91)
Miscellaneous income (expenses) - net3
(6)(84)(93)(189)
Other income (expense) - net$(107)$(149)$(319)$(354)
1.Includes net pre-tax exchange gains (losses) of $(26) million and $(54) million associated with impacts from the devaluation of the Argentine Peso for the three and nine months ended September 30, 2024, respectively, and $(83) million and $(150) million for the three and nine months ended September 30, 2023, respectively.
2.Includes non-service related components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized gain (loss), amortization of prior service benefit and settlement gain (loss)).
3.The three and nine months ended September 30, 2024 includes tax indemnification adjustments related to changes in indemnification balances as a result of the application of the terms of the Tax Matters Agreement between Corteva and Dow and/or DuPont ("Tax Indemnification Adjustments"), while the nine months ended September 30, 2024 additionally includes the receipt of an indemnification payment negotiated with the prior Stoller owners and estimated settlement reserves. The three and nine months ended September 30, 2023 includes Tax Indemnification Adjustments and an adjustment to the Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”) due to a change in estimate as well as estimated settlement reserves. The nine months ended September 30, 2023 also includes gains on the sale of assets, and a loss on the sale of the company's interest in an equity investment.
Foreign Currency Exchange Gain (Loss)
Three Months Ended September 30,Nine Months Ended September 30,
(In millions)2024202320242023
Subsidiary Monetary Position Gain (Loss)
Pre-tax exchange gain (loss)$(156)$(104)$(199)$(182)
Local tax (expenses) benefits19 23 27 
Net after-tax impact from subsidiary exchange gain (loss)$(151)$(85)$(176)$(155)
Hedging Program Gain (Loss)
Pre-tax exchange gain (loss)$59 $$(35)$(60)
Tax (expenses) benefits (12)(4)12 
Net after-tax impact from hedging program exchange gain (loss)$47 $(2)$(28)$(48)
Total Exchange Gain (Loss)
Pre-tax exchange gain (loss)$(97)$(102)$(234)$(242)
Tax (expenses) benefits(7)15 30 39 
Net after-tax exchange gain (loss)$(104)$(87)$(204)$(203)
Non-Controlling Interest Adjustment— — — 
Net after-tax exchange gain (loss) attributable to Corteva$(104)$(87)$(203)$(203)
Restrictions on Cash and Cash Equivalents
(In millions)September 30, 2024December 31, 2023September 30, 2023
Cash and cash equivalents$2,421 $2,644 $2,254 
Restricted cash equivalents335 514 522 
Total cash, cash equivalents and restricted cash equivalents$2,756 $3,158 $2,776