EID - Related Party Transactions (Notes)

6 Months Ended

Jun. 30, 2023

EID [Member]

Related Party Transaction [Line Items]

Related Party Transactions Disclosure [Text Block]

RELATED PARTY TRANSACTIONS

Transactions with Corteva

In the second quarter of 2019, EIDP entered into a related party revolving loan from Corteva, Inc., with a maturity date in 2024. As of June 30, 2023, December 31, 2022, and June 30, 2022, the outstanding related party loan balance was $268 million, $789 million, and $1,377 million, respectively (which approximates fair value), with interest rates of 7.00%, 6.52%, and 4.12%, respectively, and is reflected as long-term debt - related party in EIDP's interim Consolidated Balance Sheets. Additionally, EIDP has incurred tax deductible interest expense of $7 million and $20 million for the three and six months ended June 30, 2023, respectively, and $10 million and $19 million for the three and six months ended June 30, 2022, respectively, associated with the related party loan from Corteva, Inc.

As of June 30, 2023, December 31, 2022, and June 30, 2022, EIDP had payables to Corteva, Inc., of $44 million, $31 million and $30 million included in accrued and other current liabilities, respectively, and $115 million, $115 million, and $119 million, included in other noncurrent obligations, respectively, in the interim Consolidated Balance Sheets related to Corteva's indemnification liabilities to Dow and DuPont per the Separation Agreements (refer to page 24 of the Corteva, Inc. interim Consolidated Financial Statements for further details of the Separation Agreements).