XML 31 R19.htm IDEA: XBRL DOCUMENT v3.23.2
Other Intangible Assets
6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block] GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
The following table summarizes changes in the carrying amount of goodwill by segment for the six months ended June 30, 2023:
(In millions)Crop ProtectionSeedTotal
Balance as of December 31, 2022$4,618 $5,344 $9,962 
Acquisitions1
513 — 513 
Currency translation adjustments30 34 64 
Balance as of June 30, 2023$5,161 $5,378 $10,539 
1.On March 1, 2023, the company completed the acquisitions of Stoller and Symborg, which are included in the crop protection segment. See Note 3 – Business Combinations, to the interim Consolidated Financial Statements, for additional information.

In April 2022, the company implemented a global business unit organization model (“BU Reorganization”). The BU Reorganization resulted in the company’s digital reporting unit being merged into the seed and crop protection reporting units with the goodwill relating to the former digital reporting unit being reassigned to the seed and crop protection reporting units using a relative fair value allocation approach. An interim goodwill impairment assessment immediately prior to the BU Reorganization and for the seed and crop protection reporting units immediately after the BU Reorganization resulted in no goodwill impairment charges.

Other Intangibles Assets
The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows: 
(In millions)
June 30, 20231
December 31, 2022June 30, 2022
 GrossAccumulated
Amortization
NetGrossAccumulated
Amortization
NetGrossAccumulated
Amortization
Net
Intangible assets subject to amortization (finite-lived):      
Germplasm$6,291 $(953)$5,338 $6,291 $(826)$5,465 $6,265 $(698)$5,567 
Customer-related
2,429 (657)1,772 1,912 (585)1,327 1,936 (538)1,398 
Developed technology
1,843 (913)930 1,485 (830)655 1,485 (753)732 
Trademarks/trade names2,110 (293)1,817 2,009 (251)1,758 2,009 (211)1,798 
Favorable supply contracts2
475 (444)31 
Other3
395 (283)112 395 (271)124 399 (262)137 
Total other intangible assets with finite lives
13,068 (3,099)9,969 12,092 (2,763)9,329 12,569 (2,906)9,663 
Intangible assets not subject to amortization (indefinite-lived):      
IPR&D16 — 16 10 — 10 10 — 10 
Total other intangible assets with
    indefinite lives
16 — 16 10 — 10 10 — 10 
Total other intangible assets$13,084 $(3,099)$9,985 $12,102 $(2,763)$9,339 $12,579 $(2,906)$9,673 
1.Includes the intangible assets acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 3 – Business Combinations, to the interim Consolidated Financial Statements, for additional information.
2.Effective November 1, 2022, the favorable supply contracts expired and were fully amortized.
3.Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements.
The aggregate pre-tax amortization expense from continuing operations for definite-lived intangible assets was $174 million and $334 million for the three and six months ended June 30, 2023, respectively, and $179 million and $358 million for the three and six months ended June 30, 2022, respectively. The current estimated aggregate pre-tax amortization expense from continuing operations for the remainder of 2023 and each of the next five years is approximately $349 million, $682 million, $645 million, $634 million, $574 million and $553 million, respectively.