Common Control Business Combinations

12 Months Ended

Dec. 31, 2020

Business Combination Disclosure [Text Block]

COMMON CONTROL BUSINESS COMBINATIONS

DAS Common Control Combination

Based on an evaluation of the provisions of ASC 805 (Business Combinations), Corteva and DAS represented entities under common control, as both shared DowDuPont as their parent company. As a result, the assets, liabilities and operations of Corteva and DAS were combined at their historical carrying amounts, and periods prior to the Internal Reorganizations are adjusted as if Corteva and DAS had been combined since the Merger Effectiveness Time, when the entities were first under common control. Accordingly, in 2019, the accompanying Consolidated Financial Statements and Notes thereto were retrospectively revised to include the transferred net assets and results of operations of DAS beginning on September 1, 2017. Refer to Note 1 - Background and Basis of Presentation, for additional information on the common control combination.

The following table provides supplemental results of EID and DAS, as previously reported, for the year ended December 31, 2018:


For the Year Ended December 31, 2018
(In millions)	Historical EID		Discontinued Operations and Other Adjustments1		DAS		Corteva
Net Sales	$	26,279	$	(17,638)	$	5,646	$	14,287
(Loss) income from continuing operations before income taxes	$	(4,793)	$	(2,128)	$	115	$	(6,806)
Loss from continuing operations after income taxes	$	(5,013)	$	(1,753)	$	(9)	$	(6,775)

1.Reflects discontinued operations of EID's ECP and Specialty Products Entities and adjustments primarily related to the elimination of intercompany transactions between EID and DAS for periods subsequent to the Merger, as if they were combined affiliates, and adjustments made to align historical financial statement presentation of DAS and Corteva.

Intercompany balances and transactions with Historical EID and DAS have been eliminated.