SEPARATION FROM DOWDUPONT Separation from DowDuPont (Tables)

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of ECP Assets and Liabilities Assumed [Table Text Block]

The ECP assets received and liabilities assumed were recorded at DowDuPont's historical cost basis as reflected in the following table:

ECP Assets Received and Liabilities Assumed on Aug 31, 2017	Carrying value
In millions
Cash and cash equivalents	$	1
Accounts and notes receivable - Trade	169
Accounts and notes receivable - Other	32
Inventories	529
Other current assets	6
Investment in nonconsolidated affiliates	116
Net property	817
Goodwill	3,617
Other intangible assets	1,484
Deferred income tax assets	9
Total Assets	$	6,780
Accounts payable - Trade	102
Accounts payable - Other	29
Accrued and other current liabilities	31
Deferred income tax liabilities	683
Pension and other postretirement benefits - noncurrent	6
Other noncurrent obligations	3
Total Liabilities	$	854
Net Assets (impact to "Retained earnings")	$	5,926

Schedule of income (loss) from discontinued operations [Table Text Block]

The results of operations of AgCo and SpecCo are presented as discontinued operations in the consolidated statements of income and are summarized in the table that follows:

Results of Operations of AgCo and SpecCo	Three Months Ended		Six Months Ended
	Jun 30, 2018		Jun 30, 2019			Jun 30, 2018
In millions
Net sales	$	3,397	$	2,953		$	6,456
Cost of sales	2,123		1,804			3,948
Research and development expenses	193		175			376
Selling, general and administrative expenses	272		262			555
Amortization of intangibles	63		61			127
Restructuring and asset related charges - net	56		78			138
Equity in earnings of nonconsolidated affiliates	41		28			83
Sundry income (expense) - net	1		(18		)	5
Interest income	3		3			11
Interest expense and amortization of debt discount	12		7			21
Income from discontinued operations before income taxes	$	723	$	579		$	1,390
Provision for income taxes	169		134			322
Income from discontinued operations, net of tax	$	554	$	445		$	1,068

Schedule of assets and liabilities of discontinued operations [Table Text Block]

The carrying amount of major classes of assets and liabilities related to the distribution of AgCo and SpecCo consisted of the following:

Carrying Values of AgCo and SpecCo 1	Dec 31, 2018
In millions
Accounts and notes receivable - Trade	$	2,768
Accounts and notes receivable - Other	773
Inventories	2,826
Other current assets	151
Investment in nonconsolidated affiliates	612
Other investments	2
Noncurrent receivables	35
Net property	3,014
Goodwill	7,590
Other intangible assets	1,830
Deferred income tax assets	239
Deferred charges and other assets	60
Total assets of discontinued operations	$	19,900
Notes payable	7
Long-term debt due within one year	4
Accounts payable - Trade	1,118
Accounts payable - Other	868
Income taxes payable	234
Accrued and other current liabilities	716
Long-Term Debt	5
Deferred income tax liabilities	568
Pension and other postretirement benefits - noncurrent	306
Other noncurrent obligations	662
Total liabilities of discontinued operations	$	4,488

1. Includes assets and liabilities of consolidated variable interest entities related to discontinued operations.