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Restructuring and Asset Related Charges
 9 Months Ended
Sep. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure [Text Block] RESTRUCTURING AND ASSET RELATED CHARGES - NET
2022 Restructuring Actions
In connection with the company’s shift to a global business unit model during 2022, the company assessed its business priorities and operational structure to maximize the customer experience and deliver on growth and earnings potential. As a result of this assessment, the company committed to restructuring actions during the second quarter of 2022, which included the company’s separate announcement to withdraw from Russia (“Russia Exit”) (collectively the “2022 Restructuring Actions”). The company recorded pre-tax restructuring and other charges of $350 million inception-to-date under the 2022 Restructuring Actions, which is comprised of $115 million of severance and related benefit costs, $115 million of asset related charges, $61 million of costs related to contract terminations (including early lease terminations) and $59 million of other charges. The company does not anticipate any additional material charges from the 2022 Restructuring Actions.

Cash payments related to these charges are anticipated to be $180 million to $210 million, of which approximately $140 million has been paid through September 30, 2023, and primarily relate to the payment of severance and related benefits, contract terminations and other charges. The restructuring actions associated with these charges are expected to be substantially complete in 2023.

The total pre-tax restructuring and other charges recognized through the third quarter of 2023 included $50 million associated with the Russia Exit. The Russia Exit pre-tax restructuring charges consisted of $6 million of severance and related benefit costs, $6 million of asset related charges, and $27 million of costs related to contract terminations (including early lease terminations). Other pre-tax charges associated with the Russia Exit were recorded to cost of goods sold and other income (expense) – net in the interim Consolidated Statement of Operations, relating to inventory write-offs of $3 million and settlement costs of $8 million, respectively.

The charges related to the 2022 Restructuring Actions related to the segments, as well as corporate expenses, for the three and nine months ended September 30, 2023 and 2022 were as follows:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(In millions)2023202220232022
Seed$1 $61 $10 $94 
Crop Protection— 19 5 20 
Corporate expenses— 66 4 88 
Total1
$1 $146 $19 $202 
1.This amount excludes other pre-tax charges recorded during the three and nine months ended September 30, 2023 and 2022 impacting the Seed segment. These charges consisted of inventory write-offs and gains (losses) on sale of businesses, assets and equity investments and settlement costs associated with the Russia Exit, which are included in cost of goods sold and other income (expense) - net, in the interim Consolidated Statement of Operations, respectively. See Note 18 – Segment Information, to the interim Consolidated Financial Statements, for additional information.

The following table is a summary of charges incurred related to the 2022 Restructuring Actions for the three and nine months ended September 30, 2023 and 2022:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(In millions)2023202220232022
Severance and related benefit costs$— $66 $4 $88 
Asset related charges— 6611 70 
Contract termination charges1
1 144 44
Total restructuring and asset related charges – net2
$1 $146 $19 $202 
1.Contract terminations includes early lease terminations.
2.This amount excludes other pre-tax charges recorded during the three and nine months ended September 30, 2023 and 2022 included in cost of goods sold and other income (expense) – net, in the company’s interim Consolidated Statement of Operations, as noted above.
A reconciliation of the December 31, 2022 to the September 30, 2023 liability balances related to the 2022 Restructuring Actions is summarized below:
(in millions)Severance and Related Benefit CostsAsset Related
Contract Termination1
Total
Balance at December 31, 2022$71 $— $12 $83 
Charges to income (loss) from continuing operations4 11 4 19 
Payments(35)— (13)(48)
Asset write-offs— (11)— (11)
Balance at September 30, 2023$40 $— $3 $43 
1.The liability for contract terminations includes lease obligations. The cash impact of these obligations are substantially complete.

Other Asset Related Benefits (Charges)
The company recognized benefits (charges) of $2 million and $(66) million for the three and nine months ended September 30, 2023, respectively, and $(5) million and $(104) million for the three and nine months ended September 30, 2022, respectively, in restructuring and asset related charges - net in the interim Consolidated Statement of Operations, from non-cash accelerated prepaid royalty amortization expense related to Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits.