XML 79 R56.htm IDEA: XBRL DOCUMENT v3.25.4
Pension Plans and Other Post Employment Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Defined Benefit Plan, Assumptions [Table Text Block]
The weighted-average assumptions used to determine pension plan obligations for all pension plans are summarized in the table below:
Weighted-Average Assumptions used to Determine Benefit ObligationsDecember 31, 2025December 31, 2024
Discount rate5.31 %5.59 %
Rate of increase in future compensation levels 1
2.82 %2.87 %
1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

The weighted-average assumptions used to determine net periodic benefit costs for all pension plans are summarized in the table below:
Weighted-Average Assumptions used to Determine Net Periodic Benefit CostFor the Year Ended December 31,
202520242023
Discount rate5.59 %4.97 %5.17 %
Rate of increase in future compensation levels 1
2.87 %2.87 %2.83 %
Expected long-term rate of return on plan assets4.56 %4.57 %4.55 %
1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.
The weighted-average assumptions used to determine benefit obligations for OPEB plans are summarized in the table below:
Weighted-Average Assumptions used to Determine Benefit ObligationsDecember 31, 2025December 31, 2024
Discount rate5.14 %5.50 %
The weighted-average assumptions used to determine net periodic benefit costs for the OPEB plans are summarized in the table below:
Weighted-Average Assumptions used to Determine Net Periodic Benefit CostFor the Year Ended December 31,
202520242023
Discount rate5.50 %4.92 %5.09 %

As of December 31, 2025, 2024 and 2023, health care cost trend rates do not impact the benefit obligations for the OPEB plans because of the 2020 OPEB Plan Amendments.
Schedule of Pension Plans and Other Postemployment Benefits [Table Text Block]
Summarized information on the company's pension and other post-employment benefit plans is as follows:
Change in Projected Benefit Obligations, Plan Assets and Funded Status
Defined Benefit Pension PlansOther Post-Employment Benefits
(In millions)For the Year Ended December 31,For the Year Ended December 31,
2025202420252024
Change in benefit obligations:
Benefit obligation at beginning of the period$12,222 $13,440 $812 $925 
Service cost13 16 — — 
Interest cost627 648 40 42 
Plan participants' contributions1 2 16 18 
Actuarial (gain) loss383 (580)15 (51)
Benefits paid(1,228)(1,241)(112)(120)
Plan amendments1 — — (1)
New plans/merger1 — — — 
Effect of foreign exchange rates37 (63)1 (1)
Benefit obligations at end of the period$12,057 $12,222 $772 $812 
Change in plan assets:
Fair value of plan assets at beginning of the period$10,630 $11,755 $— $— 
Actual return on plan assets805 116 — — 
Employer contributions40 50 96 101 
Plan participants' contributions1 2 16 18 
Benefits paid(1,228)(1,241)(112)(120)
Effect of foreign exchange rates27 (52)— 1 
Fair value of plan assets at end of the period$10,275 $10,630 $— $— 
Funded status    
U.S. plan with plan assets$(1,463)$(1,268)$— $— 
Non-U.S. plans with plan assets(32)(41)— — 
All other plans 1,2
(287)(283)(772)(812)
Funded status at end of the period$(1,782)$(1,592)$(772)$(812)
1.As of December 31, 2025 and 2024, $112 million and $131 million, respectively, of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below.
2.Includes pension plans maintained around the world where funding is not customary.

Defined Benefit Pension PlansOther Post-Employment Benefits
December 31,December 31,
(In millions)2025202420252024
Amounts recognized in the Consolidated Balance Sheets:
Other assets$10 $2 $— $— 
Accrued and other current liabilities(32)(32)(98)(103)
Pension and other post-employment benefits(1,760)(1,562)(674)(709)
Net amount recognized$(1,782)$(1,592)$(772)$(812)
Pre-tax amounts recognized in accumulated other comprehensive income (loss):
Net gain (loss)$(518)$(320)$244 $276 
Prior service benefit (cost)14 17 13 14 
Pre-tax balance in accumulated other comprehensive income (loss) at end of year$(504)$(303)$257 $290 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]
Pension Plans with Projected Benefit Obligations in Excess of Plan AssetsDecember 31, 2025December 31, 2024
(In millions)
Projected benefit obligations$11,821 $12,094 
Fair value of plan assets$10,028 $10,500 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
Pension Plans with Accumulated Benefit Obligations in Excess of Plan AssetsDecember 31, 2025December 31, 2024
(In millions)
Accumulated benefit obligations$11,806 $11,995 
Fair value of plan assets$10,027 $10,414 
Schedule of Net Benefit Costs [Table Text Block]
(In millions)Defined Benefit Pension PlansOther Post-Employment Benefits
For the Year Ended December 31,For the Year Ended December 31,
Components of net periodic benefit (credit) cost and amounts recognized in other comprehensive income (loss)202520242023202520242023
Net Periodic Benefit (Credit) Cost:
Service cost$13 $16 $18 $— $— $1 
Interest cost627 648 690 40 42 49 
Expected return on plan assets(622)(531)(605)— — — 
Amortization of unrecognized loss (gain)— 1 — (17)(13)(10)
Amortization of prior service (benefit) cost(4)(4)(3)(1)(1)(2)
Settlement loss— 2 — — — — 
Net periodic benefit (credit) cost - Total$14 $132 $100 $22 $28 $38 
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net gain (loss)$(199)$164 $(255)$(15)$51 $49 
Amortization of unrecognized (gain) loss— 1 — (17)(13)(10)
Prior service benefit (cost)(1)— — — 1 — 
Amortization of prior service (benefit) cost(4)(4)(3)(1)(1)(2)
Settlement loss— 2 — — — — 
Effect of foreign exchange rates1 (1)8 — — 1 
Total benefit (loss) recognized in other comprehensive income (loss), attributable to Corteva$(203)$162 $(250)$(33)$38 $38 
Total recognized in net periodic benefit (credit) cost and other comprehensive income (loss)$(217)$30 $(350)$(55)$10 $— 
Schedule of Expected Benefit Payments [Table Text Block]
Estimated Future Benefit Payments at December 31, 2025Defined Benefit Pension PlansOther Post-Employment Benefits
(In millions)
2026$1,199 $98 
20271,162 91 
20281,126 85 
20291,088 79 
20301,048 73 
Years 2031-20354,644 293 
Total$10,267 $719 
Schedule of Allocation of Plan Assets [Table Text Block]
Allocation for Plan AssetsDecember 31, 2025December 31, 2024
Asset Category
U.S. equity securities8 %9 %
Non-U.S. equity securities5 5 
Fixed income securities67 67 
Hedge funds— — 
Private market securities13 12 
Real estate7 7 
Cash and cash equivalents— — 
Total 100 %100 %
Basis of Fair Value MeasurementsTotalLevel 1Level 2Level 3
For the year ended December 31, 2025
(In millions)
Cash and cash equivalents$876 $876 $— $— 
U.S. equity securities 1
837 836 1 — 
Non-U.S. equity securities417 417 — — 
Debt – government-issued1,540 — 1,540 — 
Debt – corporate-issued3,728 — 3,728 — 
Debt – asset-backed440 — 440 — 
Hedge funds5 — 2 3 
Private market securities5 — — 5 
Real estate funds4 — — 4 
Other62 — — 62 
Subtotal$7,914 $2,129 $5,711 $74 
Investments measured at net asset value
Debt - government issued$42 
Debt - corporate-issued3 
U.S. equity securities23 
Non-U.S. equity securities22 
Hedge funds3 
Private market securities1,750 
Real estate funds647 
Total investments measured at net asset value$2,490 
Other items to reconcile to fair value of plan assets
Pension trust receivables 2
79    
Pension trust payables 3
(208)   
Total$10,275    
1.The Corteva pension plans directly held no Corteva, Inc. common stock at December 31, 2025.
2.Primarily receivables for investment securities sold.
3.Primarily payables for investment securities purchased.
Basis of Fair Value Measurements
For the year ended December 31, 2024
(In millions)TotalLevel 1Level 2Level 3
Cash and cash equivalents$1,030 $1,030 $— $— 
U.S. equity securities 1
1,030 1,026 1 3 
Non-U.S. equity securities389 388 — 1 
Debt – government-issued1,628 — 1,628 — 
Debt – corporate-issued3,540 — 3,540 — 
Debt – asset-backed590 — 590 — 
Hedge funds5 — 2 3 
Private market securities3 — — 3 
Real estate funds101 — — 101 
Other51 — — 51 
Subtotal$8,367 $2,444 $5,761 $162 
Investments measured at net asset value
Debt - government issued$39 
Debt - corporate-issued3 
U.S. equity securities21 
Non-U.S. equity securities20 
Hedge funds11 
Private market securities1,810 
Real estate funds642 
Total investments measured at net asset value$2,546 
Other items to reconcile to fair value of plan assets
Pension trust receivables 2
79 
Pension trust payables 3
(362)   
Total$10,630    
1.The Corteva pension plans directly held $132 million (approximately 1 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2024.
2.Primarily receivables for investments securities sold.
3.Primarily payables for investment securities purchased.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
Fair Value Measurement of
Level 3 Pension Plan Assets		U.S. equity securitiesNon-U.S. equity securitiesDebt – corporate-issuedHedge fundsPrivate market securitiesReal estate fundsOtherTotal
(In millions)
Balance at January 1, 2024$1 $2 $2 $3 $6 $52 $55 $121 
Actual return on assets:
Relating to assets sold during the year ended December 31, 2024— 3 (14)— — — — (11)
Relating to assets held at December 31, 20242 — 14 — (3)(68)(2)(57)
Purchases, sales and settlements, net— (4)— — — 1 (2)(5)
Transfers in or out of Level 3, net— — (2)— — 116 — 114 
Balance at December 31, 2024$3 $1 $— $3 $3 $101 $51 $162 
Actual return on assets:
Relating to assets sold during the year ended December 31, 2025(1)(1)— — — — — (2)
Relating to assets held at December 31, 20251 — — — 2 (3)9 9 
Purchases, sales and settlements, net(3)— — — — — 2 (1)
Transfers in or out of Level 3, net— — — — — (94)— (94)
Balance at December 31, 2025$— $— $— $3 $5 $4 $62 $74