10-K

2023

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Mark One)
☒	ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2023

OR
☐	TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

___________________________________________________________________________

Commission File Number 001-38710

Corteva, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware					82-4979096
(State or other Jurisdiction of Incorporation or Organization)				(I.R.S. Employer Identification No.)
9330 Zionsville Road,	Indianapolis,	Indiana	46268		(833)	267-8382
974 Centre Road,	Wilmington,	Delaware	19805
(Address of Principal Executive Offices) (Zip Code)				(Registrant’s Telephone Number, including area code)

Commission File Number 1-815

EIDP, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware					51-0014090
(State or other Jurisdiction of Incorporation or Organization)				(I.R.S. Employer Identification No.)
9330 Zionsville Road,	Indianapolis,	Indiana	46268		(833)	267-8382
974 Centre Road,	Wilmington,	Delaware	19805
(Address of Principal Executive Offices) (Zip Code)				(Registrant’s Telephone Number, including area code)

Securities registered pursuant to Section 12(b) of the Act for Corteva, Inc.:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	CTVA	New York Stock Exchange

Securities registered pursuant to Section 12(b) of the Act for EIDP, Inc.:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
$3.50 Series Preferred Stock	CTAPrA	New York Stock Exchange
$4.50 Series Preferred Stock	CTAPrB	New York Stock Exchange

No securities are registered pursuant to Section 12(g) of the Act.

_____________________________________________________

Indicate by check mark if the registrant is a well-known seasoned issuer (as defined in Rule 405 of the Securities Act).    

Corteva, Inc.	Yes	x	No	o
EIDP, Inc.	Yes	x	No	o

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.   

Corteva, Inc.	Yes	o	No	x
EIDP, Inc.	Yes	o	No	x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. 

Corteva, Inc.	Yes	x	No	o
EIDP, Inc.	Yes	x	No	o

         Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit files). 

Corteva, Inc.	Yes	x	No	o
EIDP, Inc.	Yes	x	No	o

         Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definition of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Corteva, Inc.	Large Accelerated Filer	x	Accelerated Filer o	Non-Accelerated Filer	o	Smaller reporting company o	Emerging growth company o
EIDP, Inc.	Large Accelerated Filer	o	Accelerated Filer o	Non-Accelerated Filer	x	Smaller reporting company o	Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Corteva, Inc.	o
EIDP, Inc.	o

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.

Corteva, Inc.	Yes	x	No	o
EIDP, Inc.	Yes	x	No	o

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.

Corteva, Inc.	o
EIDP, Inc.	o

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).

Corteva, Inc.	o
EIDP, Inc.	o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    

Corteva, Inc.	Yes	o	No	x
EIDP, Inc.	Yes	o	No	x

The aggregate market value of voting stock of Corteva, Inc. held by non-affiliates of the registrant (excludes outstanding shares beneficially owned by directors and officers and treasury shares) as of June 30, 2023 was $40.6 billion.

As of February 1, 2024, 701,783,000 shares of Corteva, Inc's common stock, $0.01 par value, were outstanding.

As of February 1, 2024, all of EIDP, Inc.’s issued and outstanding common stock, comprised of 200 shares, $0.30 par value per share, is held by Corteva, Inc.

EIDP, Inc. meets the conditions set forth in General Instruction I(1)(a), (b) and (d) of Form 10-K (as modified by a grant of no-action relief dated February 12, 2018) and is therefore filing this form with reduced disclosure format.

Documents Incorporated by Reference

Information pertaining to certain Items in Part III of this report is incorporated herein by reference to portions of Corteva, Inc.'s definitive 2022 Annual Meeting Proxy Statement to be filed within 120 days after the end of the year covered by this Annual Report on Form 10-K, pursuant to Regulation 14A (the Proxy).

CORTEVA, INC.

Form 10-K

Table of Contents

			Page
Explanatory Note			2
PART I
	Item 1.	Business	3
	Item 1A.	Risk Factors	12
	Item 1B.	Unresolved Staff Comments	24
	Item 1C.	Cybersecurity	24
	Item 2.	Properties	25
	Item 3.	Legal Proceedings	26
	Item 4.	Mine Safety Disclosures	28
PART II
	Item 5.	Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	28
	Item 6.	[Reserved]	29
	Item 7.	Management's Discussion and Analysis of Financial Condition and Results of Operations	30
	Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	61
	Item 8.	Financial Statements and Supplementary Data	62
	Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	62
	Item 9A.	Controls and Procedures	63
	Item 9B.	Other Information	64
	Item 9C.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	64
PART III
	Item 10.	Directors, Executive Officers and Corporate Governance	65
	Item 11.	Executive Compensation	66
	Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	66
	Item 13.	Certain Relationships and Related Transactions, and Director Independence	67
	Item 14.	Principal Accountant Fees and Services	67
PART IV
	Item 15.	Exhibits and Financial Statement Schedules	68
	Item 16.	Form 10-K Summary	F-83
SIGNATURES			71
EIDP, Inc. Financial Statements and Supplementary Data			F-70

1

Explanatory Note

This Annual Report on Form 10-K is a combined report being filed separately by Corteva, Inc. and EIDP, Inc. ("EIDP"). Corteva, Inc. owns all of the common equity interests in EIDP, and EIDP meets the conditions set forth in General Instruction I(1)(a), (b) and (d) of Form 10-K and is therefore filing its information within this Form 10-K with the reduced disclosure format. Each of Corteva, Inc. and EIDP is filing on its own behalf the information contained in this report that relates to itself, and neither company makes any representation as to information relating to the other company. Where information or an explanation is provided that is substantially the same for each company, such information or explanation has been combined in this report. Where information or an explanation is not substantially the same for each company, separate information and explanation has been provided. In addition, separate consolidated financial statements for each company, along with notes to the consolidated financial statements, are included in this report. 

The primary differences between Corteva and EIDP's financial statements relate to EIDP's Preferred Stock - $4.50 Series and EIDP's Preferred Stock - $3.50 Series, a related party loan between EIDP and Corteva, Inc. and the associated tax deductible interest expense for EIDP, a Master In-House Banking Agreement between EIDP and Corteva, Inc., including certain consolidated subsidiaries, and the capital structure of Corteva. Inc. (See EIDP's Note 1 - Basis of Presentation to EIDP's Consolidated Financial Statements, for additional information for above items). The separate EIDP financial statements and footnotes for areas that differ from Corteva, are included within this Annual Report on Form 10-K and begin on page F-74. Footnotes of EIDP that are identical to that of Corteva are cross-referenced accordingly.

2

Part I

ITEM 1.  BUSINESS

Unless otherwise indicated or the context otherwise requires, references in this Annual Report on Form 10-K to:

•"Corteva" or "the company" refers to Corteva, Inc. and its consolidated subsidiaries (including EIDP);

•"EIDP" refers to EIDP, Inc. (formerly known as E. I. du Pont de Nemours and Company) and its consolidated subsidiaries or EIDP, Inc. excluding its consolidated subsidiaries, as the context may indicate;

•"DowDuPont" refers to DowDuPont Inc. and its subsidiaries prior to the Separation (as defined below) of Corteva;

•"Historical Dow" refers to The Dow Chemical Company and its consolidated subsidiaries prior to the Internal Reorganization as defined below;

•"Historical DuPont" and "Historical EID" refers to EIDP prior to the Internal Reorganization (as defined below);

•"Dow" refers to Dow Inc. after The Dow Distribution (as defined below);

•"DuPont" refers to DuPont de Nemours, Inc. after the Separation of Corteva; and

•"Merger" refers to the all-stock merger of equals strategic combination between Historical Dow and Historical DuPont.

Background

Corteva is a leading global provider of seed and crop protection solutions focused on the agriculture industry and contributing to a healthier, more secure and sustainable food supply. Corteva was incorporated in Delaware in March 2018 and maintains its business headquarters in Indianapolis, Indiana. With one of the broadest and most productive new product pipelines in the agriculture industry, Corteva is focused on progressing science-based innovations, which aim to deliver a wide range of improved agriculture products and services to its customers. The company leverages its rich heritage of scientific achievement to advance its robust innovation pipeline and continue to shape the future of responsible agriculture. New products are crucial to solving farmers’ productivity challenges amid a growing global population while addressing natural resistance, regulatory changes, safety requirements and competitive dynamics. The company’s investment in technology-based and solution-based product offerings allows it to meet farmers’ evolving needs while ensuring that its investments generate sufficient returns. Meanwhile, through Corteva’s unique routes to market, the company continues to work face-to-face with farmers around the world to understand their needs.

The company's broad portfolio of agriculture solutions fuels farmer productivity in approximately 125 countries. See Note 22 - Geographic Information, to the Consolidated Financial Statements for details on the location of the company's sales and property.

On June 1, 2019, Corteva, Inc. became an independent, publicly traded company through the completed separation (the “Separation”) of the agriculture business of DuPont de Nemours, Inc. (formerly known as DowDuPont Inc.) (“DuPont” or "DowDuPont"). The Separation was effectuated through a pro rata distribution (the “Corteva Distribution”) of all of the then- issued and outstanding shares of common stock of Corteva, Inc.

As a result of the Internal Reorganization (defined below), on May 31, 2019, EIDP was contributed to Corteva, Inc. and, as a result, Corteva, Inc. owns 100% of the outstanding common stock of EIDP. Shares of EIDP preferred stock, $3.50 Series and $4.50 Series, issued and outstanding immediately prior to the Separation remain issued and outstanding and were unaffected by the Separation. EIDP is a subsidiary of Corteva, Inc. and continues to be a reporting company, subject to the requirements of the Securities Exchange Act of 1934, as amended. Prior to March 31, 2019, Corteva, Inc. had engaged in no business operations and had no assets or liabilities of any kind, other than those incident to its formation.

Internal Reorganizations and Business Separations

Subsequent to the Merger, Historical Dow and EIDP engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups: agriculture, materials science and specialty products ("Internal Reorganization"). On April 1, 2019, DowDuPont completed the separation of its materials science business into a separate and independent public company by way of a distribution of Dow common stock, to holders of DowDuPont's common stock (the “Dow Distribution” and together with the Corteva Distribution, the “Distributions”).

On April 1, 2019, Historical Dow entities, which held certain assets and liabilities aligned with Historical Dow’s agriculture business and the assets and liabilities associated with its specialty products business, respectively, were transferred and conveyed to DowDuPont.

3

Part I

ITEM 1.  BUSINESS, continued

On April 1, 2019 and May 1, 2019, EIDP’s materials science and specialty products entities, along with their respective assets and liabilities, were conveyed to Dow and DowDuPont, respectively. On May 2, 2019, DowDuPont conveyed Historical Dow agricultural entities to EIDP.

On May 6, 2019, the Board of Directors of DowDuPont approved the distribution of all the then issued and outstanding shares of common stock of Corteva, Inc., then a wholly-owned subsidiary of DowDuPont, to DowDuPont stockholders. On May 31, 2019, DowDuPont contributed EIDP to Corteva, Inc. and on June 1, 2019, the Separation was completed. Corteva, Inc.'s common stock began trading on the New York Stock Exchange under the ticker symbol "CTVA" on June 3, 2019.

Separation Agreements

In connection with the Distributions, DuPont, Corteva, and Dow (together, the “Parties” and each a “Party”) have entered into certain agreements to effect the separation, provide for the allocation of DowDuPont’s assets, employees, liabilities and obligations (including its investments, property and employee benefits and tax-related assets and liabilities) among the Parties, and provide a framework for Corteva's relationship with Dow and DuPont following the separations and Distributions. The Parties entered into the following agreements:

•Separation and Distribution Agreement - Effective April 1, 2019, the Parties entered into an agreement that sets forth, among other things, the principal transactions necessary to effect the Distributions, as well as the agreements that govern certain aspects of the Parties’ ongoing relationships after the completion of the Distributions (the "Corteva Separation Agreement").

•Tax Matters Agreement - The Parties entered into an agreement effective as of April 1, 2019, as amended on June 1, 2019, that governs their respective rights, responsibilities and obligations with respect to tax liabilities and benefits, tax attributes, the preparation and filing of tax returns, the control of audits and other tax proceedings and other matters regarding taxes.

•Employee Matters Agreement - The Parties entered into an agreement effective as of April 1, 2019, that identifies employees and employee-related liabilities (and attributable assets) allocated (either retained, transferred and accepted, or assigned and assumed, as applicable) to the Parties as part of the Distributions.

•Intellectual Property Cross-License Agreement - Effective as of April 1, 2019 Corteva and Dow, and effective June 1, 2019, Corteva and DuPont, entered into Intellectual Property Cross-License Agreements. The Intellectual Property Cross-License Agreements set forth the terms and conditions under which the applicable Parties may use in their respective businesses, following each of the Distributions, certain know-how (including trade secrets), copyrights, and software, and certain patents and standards, allocated to another Party pursuant to the Corteva Separation Agreement.

•Letter Agreement - Effective as of June 1, 2019 DuPont and Corteva entered into a Letter Agreement. The Letter Agreement sets forth certain additional terms and conditions related to the Separation, including certain limitations on each party’s ability to transfer certain businesses and assets to third parties without assigning certain of such party’s indemnification obligations under the Corteva Separation Agreement to the other party to the transferee of such businesses and assets or meeting certain other alternative conditions.

Business Segments

The company’s operations are managed through two reportable segments: seed and crop protection. The seed segment develops and supplies commercial seed combining superior germplasm with advanced traits to produce high yield potential for farmers around the world. The crop protection segment supplies products to protect crop yields against weeds, insects and disease, enabling farmers to achieve optimal results. The combination of these leading platforms creates one of the broadest portfolios of agriculture solutions in the industry. Additional information with respect to business segment results is included in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, on page 40 of this report and Note 23 - Segment Information, to the Consolidated Financial Statements.

4

Part I

ITEM 1.  BUSINESS, continued

Seed

The seed segment is a global leader in developing and supplying commercial seed combining advanced germplasm and traits that produce optimum yield for farms around the world. The company’s seed segment is a leader in many key seed markets, including North America corn and soybeans, Europe corn and sunflower, as well as Brazil, India, South Africa and Argentina corn. The company offers trait technologies that improve resistance to weather, disease, insects and enhance food and nutritional characteristics, herbicides used to control weeds, and digital solutions that assist farmer decision-making to help maximize yield and profitability.

A summary of the seed segment’s net sales by major product line and geographic region (based on customer location) are as follows:

Products and Brands

The seed segment’s major brands and technologies, by key product line, are listed below:

Seed Solutions Brands	Pioneer® seeds; Brevant® seeds; Dairyland Seed®; Hoegemeyer® hybrids; Nutech® seed; Seed Consultants®; AgVenture® brand; Cordius®, Licensing Division of Corteva Agriscience, DUO® hybrid corn, NEXSEM® corn, NordTM semillas; PhytoGen® cotton; Pannar™ brand corn
Seed Solutions Traits and Technologies	ENLIST™ corn; ENLIST E3™ soybeans; ENLIST™ cotton; Enlist™ weed control system; EXZACT® Precision Technology; Herculex™ Insect Protection; Herculex™ XTRA Insect Protection; Leptra® insect protection technology offering protection against above ground pests; PowerCore® corn, PowerCore® Ultra corn, PowerCore® Enlist™ corn, PowerCore® Ultra Enlist™ corn, POWERCORE® trait technology family of products; Optimum® AcreMax® family of products offering above and below ground insect protection; REFUGE ADVANCED® trait technology; SMARTSTAX® trait technology; NEXERA® canola trait; Omega-9 Oils; Pioneer® brand Optimum® AQUAmax® products; Pioneer® brand A-Series soybeans; Pioneer® brand Plenish® high oleic soybeans; ExpressSun™ herbicide tolerant trait; Pioneer Protector® products for canola, sunflower and sorghum; Pioneer MAXIMUS® rapeseed hybrids; Qrome® corn; Clearfield® canola; PROPOUND™ advanced canola meal; Vorceed™ Enlist™ products; Conkesta®; Conkesta E3® soybeans; WideStrike™ Insect Protection; WideStrike™ 3 Insect Protection; Inzen® trait; BOLT® technology; STS® herbicide tolerant trait; MAXIMUS® canola hybrids; CottonBest® program; Brevant™ Protector products; Optimum® GLY herbicide tolerance trait Optimum® AcreMax® insect protection; Optimum® AcreMax® Leptra® insect protection; Optimum® AcreMax® Xtra insect protection; Optimum® AcreMax® XTreme insect protection; Bovalta® BMR products; Optimum® Intrasect® insect protection; Optimum® Leptra® insect protection
Other	LumiGEN™ seed treatments; Lumisena™; Lumiverd™; Lumiscend™; Lumiscend™ Pro; Lumisure®; Lumiflex™; Lumiante™; LumiTreo™; Dermacor™ X-100; Vertisan® ST; Lumiderm®; Lumivia™ CPL; Lumivia™ and Lumialza®

5

Part I

ITEM 1.  BUSINESS, continued

In connection with the validation of breeding plans and large-scale product development timelines focused on rapidly ramping up differentiated technology solutions, in 2019 the company began accelerating the ramp up of the Enlist E3TM trait platform in the company’s soybean portfolio mix across all brands, including Pioneer® brands. During the five year ramp-up period, the company began to significantly reduce the volume of products with the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits beginning in 2021, with expected minimal use of the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® traits thereafter for the remaining term of the non-exclusive license with the Monsanto Company. Refer to Prepaid Royalties within the Critical Accounting Estimates section on page 55 for additional information.

Distribution

The seed segment has a diverse worldwide network which markets and distributes the company’s brands to customers, primarily through the company’s multi-channel, multi-brand strategy, which includes four differentiated channels: Pioneer agency model, regional brands, retail brands, as well as third parties through licensing and distribution channels.

The Pioneer agency model is unique to Corteva and represents sales made directly to farmers via independent sales representatives. Through this agency model, the company interacts directly with farmers at multiple points in the growing season, from prior to planting all the way through harvest. These regular interactions enable the company to provide the advice and service farmers need while giving the company real-time insights into the customers’ future ordering decisions. The company’s regional brands connect to customers through regional brand employees and farmer-dealer networks. Retail brands provide a one-stop shop for seed and chemistry solutions and may include sales to distributors, agricultural cooperatives, and dealers. Finally, Corteva out-licenses traits and germplasm to third parties.

Key Raw Materials

The key raw materials for seed include corn and soybean seeds. To produce high-quality seeds, the company contracts with third-party growers globally. Corteva focuses on production close to the customer to provide the seed product, which is suitable for that region and its weed, insect and disease challenges, weather, soil and other conditions. The company conditions and packages the seeds using its own plants and third-party contract manufacturers. By striking a balance between owning production facility assets directly and contracting with third-party growers, the company believes it is best able to maintain flexibility to react to demand changes unique to each geography while minimizing costs. The company seeks to collaborate with strategic seed growers and share its digital agronomy and product management knowledge with them. The company’s third-party growers are an important part of its supply chain. Corteva provides them with rigorous training, planning tools and access to a system that tests and advances products matched to specific geographic needs.

The seed segment's research and development ("R&D") and supply chain groups work seamlessly to select and maintain product characteristics that enhance the quality of its seed products and solutions. Corteva focuses on customer-driven innovation to deliver superior germplasm and trait technologies. With its large sets of digitized data and its seed field management solution, the company can manage its field operations efficiently and draw insights from data quickly and effectively. This allows the company’s supply chain to react quickly to changing customer needs and provides R&D with tremendous amounts of data to analyze and incorporate into resource allocation decisions. The company continues to invest in and build capabilities that drive value via data digitization and analytics that enable it to create an even more responsive and efficient answer to customer needs.

Crop Protection

The crop protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. The segment's crop protection solutions and digital solutions provide farmers the tools they need to improve productivity and profitability, and help keep fields free of weeds, insects and diseases. The company is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals.

6

Part I

ITEM 1.  BUSINESS, continued

A summary of the crop protection segment’s net sales by major product line and geographic region (based on customer location) are as follows:

Products and Brands

The crop protection segment’s major brands and technologies, by key product line, are listed below:

Insect and Nematode Management	CLOSER™; DELEGATE®; INTREPID®; ISOCLAST™; EXALT™; PEXALON™; TRANSFORM™; VYDATE®; OPTIMUM®; Reklemel™; SALIBRO™; PYRAXALT™; QALCOVA™; JEMVELVA™; RADIANT™; SENTRICON®; ENTRUST® SC; GF-120™; and TRACER™
Disease Management	APROACH PRIMA®; VESSARYA®; APROACH®; APROACH POWER®; VIOVAN®; TALENDO™; VERBEN®, EQUATION PRO®; EQUATION CONTACT®; ZORVEC™; INATREQ™; CURZATE™; TANOS®, BIMTM MAX; BEAMTM; FONTELIS™; ACANTO™; GALILEO®; VERPIXOTM; and ZETIGOTM PRM
Weed Control	ARIGO®; ARYLEX®; ENLIST™ weed control system; ENLIST ONE™; BROADWAY™; RINSKOR™; MUSTANG®; GALLANT™; VERDICT®; KERB®; PIXXARO®; QUELEX™; KORVETTO®; REXADE™; GALLERY®; SNAPSHOT®; GRANITE®; PINDAR® GT; VIPER®; BELKAR®; WIDEMATCH®; PERFECTMATCH®; CLINCHER™; GARLON™; TORDON™; REMEDY™; PASTAR™; SONIC®; TEXARO®; KEYSTONE®; PACTO®; LIGATE®; DIMENSION®; TOPSHOT™; RICER®; LOYANT™; ROYANT™; JAGUAR™; AGIXATM, NOVIXID®, NOVLECT™; REALM® Q; LONTREL®; GRAZON®; PAXEO®; RESICORE®; SPIDER®; STARANETM; and SURESTART®
Nitrogen Management	INSTINCT®; N-SERVE® Nitrogen Stabilizer
Other	LANDVisor™

Key Raw Materials

The key raw materials and supplies for crop protection include chlorinated pyridines derivatives, specialty intermediates and technical grade active ingredients, chlorine, and seed treatments. Typically, the company purchases major raw materials through long-term contracts with multiple suppliers, which sometimes require minimum purchase commitments. Certain important raw materials are supplied by a few major suppliers. The company expects the markets for its raw materials to remain balanced. The company relies on contract manufacturers, both domestically and internationally, to produce certain inputs or key components for its product formulations. These inputs are sourced globally and the company generally formulates its products close to its end customers. Shifts in customer demand, reduced local availability of raw materials, and/or production capacity constraints may, at times, necessitate sourcing from an alternative geography. The company strives to maintain multiple high-quality supply sources for each input.

7

Part I

ITEM 1.  BUSINESS, continued

Corteva’s supply chain strategy involves managing global supplies of active and intermediate ingredients sourced regionally with global best practices and oversight. Corteva’s supply strategy includes a robust and flexible global footprint to meet future portfolio growth. The company’s supply chain also provides competitive advantages including reducing time to meet customer requirements in regions while minimizing costs through the value chain.

Seasonality

Corteva’s sales are generally strongest in the first half of the calendar year, which aligns with the planting and growing season in the northern hemisphere. The company typically generates about 65 percent of its sales in the first half of the calendar year, driven by northern hemisphere seed and crop protection sales. The company generates about 35 percent of its sales in the second half of the calendar year, led by seed sales in the southern hemisphere. The seasonality in sales impacts both the seed and crop protection segments. The company’s direct distribution channel, where products are shipped to farmers, is more affected by planting delays than its competitors. Generally speaking, unfavorable weather slows the planting season and can affect the company’s quarterly results and sales mix. Severe unfavorable weather, however, can impact overall sales. Accounts receivable tends to be higher during the first half of the year, consistent with the peak sales period in the northern hemisphere, with cash collection focused in the fourth quarter.

Human Capital Management

Corteva aims to attract the best employees, to retain those employees through offering career development and training opportunities while also prioritizing their safety and wellness in an inclusive and productive work environment. The company’s strong employee base of approximately 22,500 employees, along with its commitment to Corteva’s core values, is a key element to the success of its business.

Workforce Composition. As of December 31, 2023, the company globally employs approximately 22,500 employees. In order to address regional specific customer needs within its global business, the company has a geographically diverse employee base with 46%, 22%, 19%, and 13% located in North America, Latin America, EMEA, and Asia-Pacific regions, respectively.

Approximately 2% of the workforce is unionized in the United States and another 12% participate in work councils and collective bargaining arrangements outside the United States. In 2023, the company did not experience any work stoppages due to strike or lockouts.

Safety. Living safely is one of the company’s core values by which the company manages its business. The company has implemented safety programs and management practices to promote a culture of safety to protect its employees, as well as the environment. This includes required trainings for employees, as well as specific qualifications and certifications for certain operational employees.

Inclusion. The company has a robust inclusion, diversity, and equity (“ID&E”) vision and strategy, based upon the belief that embracing diversity and inclusion benefits the company by creating a workforce with a greater variety of skills and perspectives as a result of their differentiated backgrounds and experiences. Specific ID&E initiatives are identified and tracked to create a culture of belonging that is designed to create an environment where the best talent is attracted, retained, and engaged. Management is expected to support specific inclusion initiatives for their respective geographies and business, as applicable, in order to build a more inclusive working environment for the benefit of all employees. Critical to creating this environment are company-sponsored employee business resource groups (“BRGs”) that support and promote certain mutual objectives of both the employee and the company, including community engagement and the professional development of employees. The BRGs are open to all employees and provide a space where employees can foster connections within a supportive environment. The company maintains nine global BRGs, each led by a member of the company’s senior leadership: Disability Awareness Network; Global African Heritage Alliance; Global Indigenous Peoples Alliance; Growing Asian Impact Network; Latin Network; Pride (LGBTQ+); Professional Learning Acceleration Network; Veteran’s Network; and Women’s Inclusion Network.

The company monitors its recruitment and talent development processes, in order to prevent and detect inequities and potentially discriminatory practices that could negatively impact the creation of an inclusive culture and the retention of key talent for our leadership pipeline. The company reviews its ID&E efforts through periodic engagement surveys and other measures. The results of the company’s efforts, along with its ID&E strategy, are reviewed periodically with the company’s management, and through annual reviews of the company’s leadership pipelines and ID&E programs with the People and Compensation Committee of the Board of Directors.

8

Part I

ITEM 1.  BUSINESS, continued

Experienced Management. The company believes its management team has the experience necessary to effectively execute its strategy and advance its product pipelines and technology. The company's chief executive officer and business presidents have an average of approximately 25 years of agriculture experience and are supported by an experienced and talented management team who is dedicated to maintaining and expanding its position as a global force in the agriculture industry.

Intellectual Property

Corteva considers its intellectual property estate, which includes patents, trade secrets, trademarks and copyrights, in the aggregate, to constitute a valuable asset of Corteva and actively seeks to secure intellectual property rights as part of an overall strategy to protect its investment in innovations and maximize the results of its research and development program. While the company believes that its intellectual property estate, taken as a whole, provides a competitive advantage in many of its businesses, no single patent, trademark, license or group of related patents or licenses is in itself essential to the company as a whole or to any of the company’s segments.

Trade secrets are an important element of the company's intellectual property. Many of the processes used to make Corteva products are kept as trade secrets which, from time to time, may be licensed to third parties. Corteva vigilantly protects all of its intellectual property including its trade secrets. When the company discovers that its trade secrets have been unlawfully taken, it reports the matter to governmental authorities for investigation and potential criminal action, as appropriate. In addition, the company takes measures to mitigate any potential impact, which may include civil actions seeking redress, restitution and/or damages based on loss to the company and/or unjust enrichment.

Patents & Trademarks.  Corteva continually applies for and obtains U.S. and foreign patents and has access to a large patent portfolio, both owned and licensed. Corteva’s rights under these patents and licenses, as well as the products made and sold under them, are important to the company in the aggregate. The protection afforded by these patents varies based on country, scope of individual patent coverage, as well as the availability of legal remedies in each country. This significant patent estate may be leveraged to align with the company’s strategic priorities within and across product lines. At December 31, 2023, the company owned about 5,900 U.S. patents and about 11,500 active patents outside of the U.S.

Remaining life of granted patents owned as of December 31, 2023:

	Approximate U.S.	Approximate Other Countries
Within 5 years	1,000	2,000
6 to 10 years	2,000	3,600
11 to 15 years	1,900	5,500
16 to 20 years	1,000	400
Total	5,900	11,500

In addition to its owned patents, the company owns over 4,400 patent applications.

The company also owns or has licensed a substantial number of trade names, trademarks and trademark registrations in the United States and other countries, including approximately 12,200 registrations and 1,000 pending trademark applications in a number of jurisdictions.

In addition, the company holds multiple long-term biotechnology trait licenses from third parties in the normal course of business. Most corn hybrids and soybean varieties sold to customers contain biotechnology traits licensed from third parties under these long-term licenses.

Competition

The company competes with producers of seed germplasm, trait developers, and crop protection products on a global basis. The global market for products within the industry is highly competitive and the company believes competition has and will continue to intensify. Corteva competes based on germplasm and trait leadership, price, quality and cost competitiveness and the offering of a holistic solution. The company’s key competitors include BASF, Bayer, FMC, Syngenta and ChemChina, as well as companies trading in generic crop protection chemicals and regional seed companies.

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Environmental Matters

Information related to environmental matters is included in several areas of this report: (1) Environmental Proceedings beginning on page 27; (2) Management's Discussion and Analysis of Financial Condition and Results of Operations beginning on pages 58-60; and (3) Note 2 - Summary of Significant Accounting Policies, and Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements.

Regulatory Considerations

Our seed and crop protection products and operations are subject to certain approval procedures, manufacturing requirements and environmental protection laws and regulations in the jurisdictions in which we operate. We evaluate and test products throughout the research and development phases, and each new technology undergoes further rigorous scientific studies and tests to validate that the product can be used effectively and that use of the technology is safe for humans and animals and does not cause undue harm to the environment when used in accordance with the directions for use.

The regulatory approval processes and procedures globally are becoming increasingly more complex, which has resulted in additional testing needs, longer approval timelines that are difficult to predict, and higher development and maintenance costs. We continue to invest on an ongoing basis to keep dossiers current, respond to regulators and meet evolving regulatory standards required by global regulatory frameworks. Failure to comply with these regulations or future regulatory bans and requirements related to our products and their use may materially impact our financial performance. The increase in timelines for regulatory approvals may result in the company not achieving its sustainability targets, or its anticipated returns on research and development investments.

Regulation of Genetically Modified Organisms (“GMOs”) and Gene Editing

Genetically modified seed products are subject to regulatory approval processes and procedures. For example, in the United States, the Coordinated Framework for Regulation of Biotechnology governs genetically modified or gene edited organisms, using existing U.S. legislation and legal authorities on food, feed and environmental safety. Plant GMOs are regulated by the U.S. Department of Agriculture’s (the “USDA”) Animal and Plant Health Inspection Service (the “APHIS”) under the Plant Protection Act. The APHIS assesses the trait to ensure that the trait will not pose a plant pest and is not a noxious weed. GMOs in food are regulated by the Food and Drug Administration (the “FDA”) under the Federal Food, Drug, and Cosmetic Act (the “FFDCA”). The FDA ensures that the food is safe for food and feed. Pesticides and microorganisms containing GMOs are regulated by the Environmental Protection Agency (the “EPA”) pursuant to the Federal Insecticide, Fungicide and Rodenticide Act (the “FIFRA”) and the Toxic Substances Control Act. The EPA assesses the trait or the stack containing the traits to ensure that there is no unreasonable adverse effect to the environment.

Other countries also have rigorous approval processes, procedures, and scientific testing requirements for the cultivation or import of genetically modified seed products and gene editing technology. In the United States and other countries that have functioning regulatory systems, a rigorous scientific review is conducted by these agencies to demonstrate that genetically modified and gene edited products are as safe as traditionally bred, non-biotech/GMO counterparts for food, feed and the environment. Various countries in EMEA, Latin America, and Asia Pacific have banned GMOs entirely.

Regulation of Crop Protection Products

Globally, manufacturers of crop protection products, including herbicides, fungicides and insecticides are required to submit an application/dossier and obtain government regulatory approval prior to selling products in a particular country. In the United States, the EPA is responsible for registering and overseeing the approval and marketing of pesticides, pursuant to the FIFRA, the FFDCA and the Food Quality Protection Act. Also, the USDA and the FDA monitor levels of pesticide residue that is allowed on or in crops. Already registered pesticides are required to be re-registered every 15 years to ensure that those products continue to meet the rigorous safety standards set by the regulators. The EPA reevaluates pesticide tolerances at least every 10 years, taking into account ecological and human health risks, in addition to cumulative risks as a result of multiple routes and sources of exposure.

Beginning in January 2022, before registering any new conventional pesticide active ingredient, the EPA evaluates the potential effects on listed species and their designated critical habitats under the Endangered Species Act (the “ESA”). The EPA also has initiated such evaluations for certain other active ingredients in response to existing or threatened litigation. Where the EPA determines that a pesticide in the registration and re-evaluation processes “may affect” a listed species, the EPA must consult with the U.S. Fish and Wildlife Service and the National Marine Fisheries Service. As part of its approval, registration, and reevaluation processes, the EPA may impose certain use restrictions on crop protection products under the ESA. Under the

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citizen suit provisions, the ESA also includes citizen suit provisions that allow the public to bring suit in court against federal agencies when they believe a listed species is not being adequately protected by the EPA. FIFRA contains similar provisions that allow the public to challenge an EPA’s registration decision. These lawsuits may subject products to additional use limitations and labeling requirements and further studies, as well as result in registrations being revoked, in whole or in part.

The company's European operations are subject to the European chemical regulation REACH (“Registration, Evaluation, Authorisation, and Restriction of Chemicals”) and the CLP (“Classification, Labeling, and Packaging of Substances and Mixtures”). Other jurisdictions also have rigorous approval processes, procedures and scientific testing requirements for the approval of crop protection products. We continue to monitor legislative and regulatory developments related to pollution and other environmental health and safety matters.

Available Information

The company's annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports are accessible on Corteva's website at http://investors.corteva.com by clicking on the section labeled "Financial Information", then on "SEC Filings." These reports are made available, without charge, as soon as is reasonably practicable after the company files or furnishes them electronically with the Securities and Exchange Commission. No portion of the company's website mentioned in this report, or the materials contained on it, have been made part of this annual report on Form 10-K or incorporated herein by reference, unless such incorporation is specifically mentioned herein.

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Risks Related to our Industry

Corteva may not be able to obtain or maintain the necessary regulatory approvals for some of its products, including its seed and crop protection products, which could restrict its ability to sell those products in some markets.

Regulatory and legislative requirements affect the development, manufacture and distribution of Corteva’s products, including the testing and planting of seeds containing Corteva’s biotechnology traits and the import of crops grown from those seeds, and non-compliance can harm Corteva’s sales and profitability.

Seed products incorporating biotechnology derived traits and crop protection products must be extensively tested for safety, efficacy and environmental impact before they can be registered for production, use, sale or commercialization in a given market. In certain jurisdictions, Corteva must periodically renew its approvals for both biotechnology and crop protection products, which typically require Corteva to demonstrate compliance with then-current standards which generally are more stringent since the prior registration. The regulatory approvals process is lengthy, costly, complex and in some markets unpredictable, with requirements that can vary by product, technology, industry and country. The regulatory approvals process for products that incorporate novel modes of action or new technologies can be particularly unpredictable and uncertain due to the then-current state of regulatory guidelines and objectives, as well as governmental policy considerations and non- governmental organization and other stakeholder considerations. The uncertainty and increased length of regulatory approvals may reduce Corteva’s return on its research and development investments, and impede its ability to meet sales, profitability, or sustainability metrics.

Furthermore, the detection of biotechnology traits or chemical residues from a crop protection product not approved in the country in which Corteva sells or cultivates its product, or in a country to which Corteva imports its product, may affect Corteva’s ability to supply or export its products, or even result in crop destruction, product recalls or trade disruption, which could result in lawsuits and termination of licenses related to biotechnology traits and raw material supply agreements. Delays in obtaining regulatory approvals to import, including those related to the importation of crops grown from seeds containing certain traits or treated with specific chemicals, may influence the rate of adoption of new products in globally traded crops.

Additionally, the regulatory environment may be impacted by the activities of non-governmental organizations and special interest groups and stakeholder reaction to actual or perceived impacts of new and existing technology, products or processes on safety, health and the environment. Obtaining and maintaining regulatory approvals requires submitting a significant amount of information and data, which may require participation from technology providers. Regulatory standards and trial procedures are continuously changing. In addition, Corteva has seen an increase in recent years in the number of lawsuits filed by those who identify themselves as public or environmental interest groups seeking to invalidate pesticide product registrations and/or challenge the way federal or state governmental entities apply the rules and regulations governing pesticide produce use. The pace of change together with the lack of regulatory harmony could result in unintended noncompliance. Responding to these changes and meeting existing and new requirements may involve significant costs or capital expenditures or require changes in business practice that could result in reduced profitability. The failure to receive necessary permits or approvals could have near- and long-term effects on Corteva’s ability to produce and sell some current and future products.

The successful development and commercialization of Corteva's pipeline products will be necessary for Corteva's growth.

Corteva uses advanced breeding technologies to produce hybrids and varieties with superior performance in farmers’ fields and uses biotechnology to introduce traits that enhance specific characteristics of its crops. Corteva also uses advanced analytics, software tools, mobile communications and new planting and monitoring equipment to provide agronomic recommendations to growers. Additionally, Corteva conducts research into biological and chemical products to protect farmers’ crops from pests and diseases and enhance plant productivity.

New product concepts may be abandoned for many reasons, including greater anticipated development costs, technical difficulties, lack of efficacy, regulatory obstacles or inability to market under regulatory frameworks, competition, inability to prove the original concept, lack of demand and the need to divert focus, from time to time, to other initiatives with perceived opportunities for better returns. The processes of active ingredient development or discovery, breeding, biotechnology trait discovery and development and trait integration are lengthy, and a very small percentage of the chemicals, genes and germplasm Corteva tests is selected for commercialization. Furthermore, the length of time and the risk associated with the breeding and biotech pipelines are interlinked because both are required as a package for commercial success in markets where

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biotech traits are approved for growers, since seed hybrids and varieties could require modification to tolerate higher doses and/or new varieties of herbicides and pesticides as weeds and insects develop resistance. Commercial transitions to the company’s new technologies can take several years to complete, and weed and insect resistance may develop faster than Corteva can respond with new technologies or enhancements to existing technologies. In countries where biotech traits are not approved for widespread use, Corteva’s seed sales depend on the quality of its germplasm. While initial commercialization efforts have been promising, there are no guarantees that anticipated levels of product acceptability within Corteva's markets will be achieved or that higher quality products will not be developed by Corteva's competitors in the future.

Speed in discovering, developing, protecting and responding to new technologies, including artificial intelligence and new technology-based distribution channels that accelerate Corteva’s product development timelines and could facilitate its ability to engage with customers and end users, and bringing related products to market is a significant competitive advantage. Commercial success frequently depends on being the first company to the market, and many of Corteva’s competitors are also making considerable investments in similar new biotechnology products, improved germplasm products, biological and chemical products and agronomic recommendation products.

The degree of public understanding and acceptance or perceived public acceptance of Corteva’s biotechnology and other agricultural products and technologies can affect Corteva’s sales and results of operations by affecting planting approvals, regulatory requirements and customer purchase decisions.

Concerns and claims regarding the safe use of seeds with biotechnology traits and crop protection products in general, and their potential impact on health and the environment reflect a growing trend in societal demands for increasing levels of product safety and environmental protection. These include concerns and claims that increased use of crop protection products, drift, inversion, volatilization and the use of biotechnology traits meant to reduce the resistance of weeds or pests to control by crop protection products, could increase or accelerate such resistance and otherwise negatively impact health and the environment. These and other concerns could manifest themselves in stockholder proposals, preferred purchasing, delays or failures in obtaining or retaining regulatory approvals, delayed product launches, lack of market acceptance, product discontinuation, litigation, continued pressure for and adoption of more stringent regulatory intervention, termination of raw material supply agreements and legal claims. These and other concerns could also influence public perceptions, the viability or continued sales of certain of Corteva’s products, Corteva’s reputation and the cost to comply with regulations. As a result, such concerns could have a material adverse effect on Corteva’s business, results of operations, financial condition and cash flows.

Changes in agricultural and related policies of governments and international organizations may prove unfavorable.

In many markets there are various pressures to reduce government subsidies to farmers, which may inhibit the growth in these markets of products used in agriculture. In addition, government programs that create incentives for farmers, including those established by the U.S. Farm Bill, may be modified or discontinued. However, it is difficult to predict accurately whether, and if so when, such changes will occur. Corteva expects that the policies of governments and international organizations will continue to affect the planting choices made by growers as well as the income available to growers to purchase products used in agriculture and, accordingly, the operating results of the agriculture industry.

The costs of complying with evolving regulatory requirements could negatively impact Corteva’s business, results of operations and financial condition. Actual or alleged violations of environmental laws or permit requirements could result in restrictions or prohibitions on plant operations, substantial civil or criminal sanctions, as well as the assessment of strict liability and/or joint and several liability.

Corteva is subject to extensive federal, state, local and foreign laws, regulations, rules and ordinances relating to pollution, protection of the environment, waste water discharges, the generation, storage, handling, transportation, treatment, disposal and remediation of hazardous substances and waste materials and the use of genetically modified seeds and crop protection active ingredients by growers.

Environmental and health and safety laws, regulations and standards, including those with respect to PFAS and other substances, expose Corteva to the risk of substantial costs and liabilities, including liabilities associated with Corteva’s business and the discontinued and divested businesses and operations of EIDP. As is typical for businesses like Corteva’s, soil and groundwater contamination has occurred in the past at certain sites and may be identified at other sites in the future. Disposal of waste from Corteva’s business at off-site locations also exposes it to potential remediation costs. Consistent with past practice, Corteva is continuing to monitor, investigate and remediate soil and groundwater contamination at several of these sites.

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Costs and capital expenditures relating to environmental, health or safety matters are subject to evolving regulatory requirements and depend on the timing of the promulgation and enforcement of specific standards which impose the requirements. Moreover, changes in environmental regulations, including those related to climate change, could inhibit or interrupt Corteva’s operations, or require modifications to its facilities in the future. Accordingly, environmental, health or safety regulatory matters could result in significant unanticipated costs or liabilities, which may be materially higher than Corteva’s accruals.

Climate change and unpredictable seasonal and weather factors could impact Corteva’s sales and earnings.

The agriculture industry is subject to seasonal and weather factors, which can vary unpredictably from period to period. Weather factors can affect the presence of disease and pests on a regional basis and, accordingly, can positively or adversely affect the demand for crop protection products, including the mix of products used or the level of returns. The weather also can affect supply chains and the quality, volume and cost of seed produced for sale as well as demand and product mix. Seed yields can be higher or lower than planned, which could lead to higher inventory and related write-offs. Climate change may increase the frequency or intensity of extreme weather such as storms, floods, heat waves, droughts and other events that could affect the quality, volume and cost of seed produced for sale as well as demand and product mix. Climate change may also affect the availability and suitability of arable land and contribute to unpredictable shifts in the average growing season and types of crops produced.

Corteva’s business is subject to various competition and antitrust, rules and regulations around the world, and as the size of its business grows, scrutiny of its business by legislators and regulators in these areas may intensify.

On July 9, 2021, President Biden issued an executive order promoting competition in the American economy. The order encouraged further examination and efforts by U.S. regulatory agencies to avoid market concentrations for agricultural inputs, that could challenge the survival of family farms. The executive order also directs the U.S. Secretary of Agriculture to take action to ensure that the intellectual property system, while still incentivizing innovation, does not also unnecessarily reduce competition in seed and other agricultural input markets beyond what is reasonably contemplated by the U.S. Patent Act and propose strategies for addressing those concerns across intellectual property, antitrust, and other relevant laws. While the ultimate impact of the executive order will depend on the actions ultimately resulting from the U.S. regulatory authorities, actions taken by such authorities may increase the regulation and regulatory costs associated with the agriculture industry in the future and restrict the company from pursuing certain growth opportunities, including mergers and acquisitions.

Scrutiny from regulators in the U.S. and abroad may intensify as Corteva’s business presence grows. This scrutiny and related investigations, even when not resulting in an enforcement action, may result in damage to a company’s reputation, significant defense expense, as well as become a distraction to management. Antitrust and competition enforcement actions, including the current FTC and related state attorney general lawsuits pending against Corteva, may result in regulators imposing fines, penalties, or restrictions on a company’s business practices in a manner that may significantly impact its results of operations.

Corteva participates in an industry that is highly competitive and has undergone consolidation, which could increase competitive pressures.

Corteva currently faces significant competition in the markets in which it operates. In most segments of the market, the number of products available to the grower is steadily increasing as new products are introduced. At the same time, certain products are coming off patent and are thus available to generic manufacturers for production and commercialization. Upon the loss or expiration of patent protection for one of Corteva’s products or of a product that Corteva licenses, or upon the “at- risk” launch (despite pending patent infringement litigation against the generic product) by a generic manufacturer of a generic version of one of Corteva’s patented products or of a product that Corteva licenses, Corteva can lose a major portion of revenues for that product, which can have a material adverse effect on Corteva’s business. Additionally, data analytic tools and web-based new direct purchase models offer increased transparency and comparability, which creates price pressures. Corteva cannot predict the pricing or promotional actions of its competitors. Aggressive marketing or pricing by Corteva’s competitors could adversely affect Corteva’s business, results of operations and financial conditions. As a result, Corteva continues to face significant competitive challenges.

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Corteva’s sales to its customers may be adversely affected should a company successfully establish an intermediary platform for the sale of Corteva’s products or otherwise position itself between Corteva and its customers.

Corteva services customers in part through the Pioneer direct sales channel in key agricultural geographies, including the United States. In addition, Corteva supplements this approach with strong retail channels, including distributors, agricultural cooperatives and dealers, and with digital and data solutions that assist farmer decision-making with a view to optimize their product selection and maximize their yield and profitability. While Corteva expects its indirect channels will extend its reach and increase exposure of its products to other potential customers, including smaller farmers or farmers in less concentrated areas, there can be no assurance that Corteva will be successful in this regard. If a competitor were to successfully establish an intermediary platform for distribution of Corteva’s products, it may disrupt Corteva’s distribution model and inhibit Corteva’s ability to provide a complete go-to-market strategy covering the direct, dealer and retail channels. In such a circumstance, Corteva’s sales may be adversely affected.

Risks Related to Our Operations

Corteva is dependent on its relationships or contracts with third parties with respect to certain of its raw materials or licenses and commercialization.

Corteva is dependent on third parties in the research, development and commercialization of its products and enters into transactions including, but not limited to, supply agreements, licensing agreements, and manufacturing agreements in connection with Corteva’s business. The majority of Corteva’s corn hybrids and soybean varieties sold to customers contain biotechnology traits that Corteva licenses from third parties under long-term licenses. If Corteva loses its rights under such licenses, it could negatively impact Corteva’s ability to obtain future licenses on competitive terms, commercialize new products and generate sales from existing products. Corteva may elect to out-license its technology, including germplasm. There can be no guarantee that such out-licensing will not ultimately strengthen Corteva’s competition thereby adversely impacting Corteva’s results of operations.

While Corteva relies heavily on third parties for multiple aspects of its business and commercialization activities, Corteva does not control many aspects of such third parties’ activities. Third parties may not complete activities on schedule or in accordance with Corteva’s expectations. Failure by one or more of these third parties to meet their contractual or other obligations to Corteva or to comply with applicable laws or regulations, or any disruption in the relationship between Corteva and one or more of these third parties could delay or prevent the development, approval or commercialization of Corteva’s products and could also result in non-compliance or reputational harm, all with potential negative implications for Corteva’s business.

In addition, Corteva’s agreements with third parties may obligate it to meet certain contractual or other obligations to third parties. For example, Corteva may be obligated to meet certain thresholds or abide by certain boundary conditions. If Corteva were to fail to meet such obligations to the third parties, its relationship with such third parties may be disrupted. Such a disruption could negatively impact certain of Corteva’s licenses on which it depends, could cause reputational harm, and could negatively affect Corteva’s business, results of operations and financial condition.

Volatility in Corteva’s input costs, which include raw materials and production costs, could have a significant impact on Corteva’s business, results of operations and financial condition.

Corteva’s input costs are variable based on the costs associated with production or with raw materials Corteva uses. For example, Corteva’s production costs vary, especially on a seasonal basis where changes in weather influence supply and demand. In addition, Corteva’s manufacturing processes consume significant amounts of raw materials, the costs of which are subject to worldwide supply and demand as well as other factors beyond Corteva’s control. Corteva refers to these costs collectively as input costs. Significant variations in input costs affect Corteva’s operating results from period to period.

When possible, Corteva purchases raw materials through negotiated long-term contracts to minimize the impact of price fluctuations. Corteva also enters into over-the-counter and exchange traded derivative commodity instruments to hedge its exposure to price fluctuations on certain purchases. In addition, Corteva takes actions to offset the effects of higher input costs through selling price increases, productivity improvements and cost reduction programs. Success in offsetting higher input costs with price increases is largely influenced by competitive and economic conditions and could vary significantly depending on the market served. If Corteva is not able to fully offset the effects of higher input costs, it could have a significant impact on its financial results.

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Our business, financial condition and results of operations could be materially affected by disruptions in the global economy caused by geopolitical and military conflicts.

The global economy has been negatively impacted by the military conflict between Russia and Ukraine. While we have concluded our business activities in Russia, we have experienced shortages in materials, the inability to insure shipments, and increased costs for transportation, energy, and raw material and other inputs due in part to the negative impact of the Russia-Ukraine military conflict on the global economy. Further escalation of the military conflict or related geopolitical tensions, including increased trade barriers or restrictions on global trade, could result in, among other things, cyberattacks, further supply disruptions, and changes to foreign exchange rates and financial markets, any of which may adversely affect our business and supply chains. Such geopolitical instability and uncertainty has negatively impacted our ability to sell to, ship products to, collect payments from, and support customers in certain regions. Logistics restrictions, including closures of air space and shipping ports, the reduction of the availability of farmable land, and the destruction of facilities could further increase these adverse impacts and negatively impact demand for our products in the region.

Similar or more severe disruptions, trade barriers, business risks, asset seizures, and volatility in foreign exchange and financial markets could occur if tensions or conflicts between China and Taiwan, or other countries, escalate, or if the United States would become a party to such a military conflict. Currently, a material portion of the company’s crop protection inputs are sourced directly or indirectly from China. While the company utilizes dual- or multi- source supply chains to minimize business disruptions, these strategies may not be adequate to address the scope of disruptions created by such a conflict. Further escalation or expansion of economic disruption or in the scope of global or regional conflicts could have a material adverse effect on our results of operations.

Corteva’s business, results of operations and financial condition could be adversely affected by environmental, litigation and other commitments and contingencies.

As a result of Corteva’s operations, including past operations and those related to divested businesses and discontinued operations of EIDP, Corteva incurs environmental operating costs for pollution abatement activities including waste collection and disposal, installation and maintenance of air pollution controls and wastewater treatment, emissions testing and monitoring and obtaining permits. Corteva also incurs environmental operating costs related to environmental related research and development activities including environmental field and treatment studies as well as toxicity and degradation testing to evaluate the environmental impact of products and raw materials. In addition, Corteva maintains and periodically reviews and adjusts its accruals for probable environmental remediation and restoration costs.

Corteva expects to continue to incur environmental operating costs since it will operate global manufacturing, product handling and distribution facilities that are subject to a broad array of environmental laws and regulations. These rules are subject to change by the implementing governmental agency, which Corteva monitors closely. Corteva’s environmental policy requires that its operations fully meet or exceed legal and regulatory requirements. In addition, Corteva expects to continue certain voluntary programs, and could consider additional voluntary actions, to reduce air emissions, minimize the generation of hazardous waste, decrease the volume of water use and discharges, increase the efficiency of energy use and reduce the generation of persistent, bioaccumulative and toxic materials. Costs to comply with complex environmental laws and regulations, as well as internal voluntary programs and goals, are significant and Corteva expects these costs will continue to be significant for the foreseeable future. Over the long-term, such expenditures are subject to considerable uncertainty and could fluctuate significantly.

Corteva accrues for environmental matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. As remediation activities vary substantially in duration and cost from site to site, it is difficult to develop precise estimates of future site remediation costs. Corteva expects to base such estimates on several factors, including the complexity of the geology, the nature and extent of contamination, the type of remedy, the outcome of discussions with regulatory agencies and other Potentially Responsible Parties (“PRPs”) at multi-party sites and the number of, and financial viability of, other PRPs. Considerable uncertainty exists with respect to environmental remediation costs and, under adverse changes in circumstances, the potential liability may be materially higher than Corteva’s accruals.

Corteva faces risks arising from various unasserted and asserted litigation matters arising out of the normal course of its current and former business operations, including intellectual property, commercial, product liability, environmental and antitrust lawsuits. Corteva has noted a trend in public and private suits being filed on behalf of states, counties, cities and utilities

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alleging harm to the general public and the environment, including waterways and watersheds. Claims alleging harm to the public and the environment may be brought against Corteva, notwithstanding years of scientific evidence and regulatory determinations supporting the safety of crop protection products. The litigation involving Monsanto’s Roundup® non-selective glyphosate containing weedkiller products has resulted in negative publicity and sentiment and may lead to similar suits with respect to glyphosate-containing products and/or other established crop protection products. Claims and allegations that Corteva’s products or products that Corteva manufactures or markets on behalf of third parties are not safe could result in litigation, damage to Corteva’s reputation and have a material adverse effect on Corteva’s business. It is not possible to predict the outcome of these various proceedings and any potential impact on Corteva. An adverse outcome in any one or more of these matters may result in losses not fully covered by Corteva's insurance policies, and could be material to Corteva's financial results. Various factors or developments can lead to changes in current estimates of liabilities. Such factors and developments may include, but are not limited to, additional data, safety or risk assessments, as well as a final adverse judgment, significant settlement or changes in applicable law. A future adverse ruling or unfavorable development could result in future charges that could have a material adverse effect on Corteva.

The company, pursuant to the respective Separation Agreements, is entitled to cost sharing and indemnification from Chemours, Dow and DuPont, as applicable, for certain litigation, environmental, workers’ compensation and other liabilities related to its historical operations. In connection with the recognition of liabilities related to these matters, Corteva records an indemnification asset when recovery is deemed probable. These estimates of recovery are subject to various factors and developments that could result in differences from future estimates or the actual recovery. As of December 31, 2023, the indemnification assets pursuant to the Chemours Separation Agreement and the Corteva Separation Agreement are in aggregate $104 million within accounts and notes receivable - net and $366 million within other assets in the company’s Consolidated Balance Sheet. Any failure by, or inability to pay, these liabilities in line with the indemnification provisions of the Separation Agreements may have a material adverse effect on Corteva and its financial condition and results of operations.

In the ordinary course of business, Corteva may make certain commitments, including representations, warranties and indemnities relating to current and past operations, including those related to divested businesses and issue guarantees of third-party obligations. If Corteva were required to make payments as a result, they could exceed the amounts accrued, thereby adversely affecting Corteva’s financial condition and results of operations.

Corteva’s operations outside the United States are subject to risks and restrictions, which could negatively affect Corteva’s business, results of operations and financial condition.

Corteva’s operations outside the United States are subject to risks and restrictions, including fluctuations in foreign-currency exchange rates; inflation; exchange and price control regulations; corruption risks; competitive restrictions; changes in local political or economic conditions; import and trade restrictions; import or export licensing requirements and trade policy; and other potentially detrimental domestic and foreign governmental practices or policies affecting U.S. companies doing business abroad. In addition, Corteva’s international operations are sometimes in countries with unstable governments, economic or fiscal challenges, military or political conflicts, local epidemics or pandemics, significant levels of crime and organized crime, or developing legal systems. This may increase the risk to the company's employees, subcontractors or other parties, and to other liabilities, such as property loss or damage to the company's products, and may affect Corteva's ability to safely operate in, or import into, or receive raw materials from these countries.

Additionally, Corteva’s ability to export its products and its sales outside the United States has been, and may continue to be adversely affected by significant changes in trade, tax or other policies, including the risk that other countries may retaliate through the imposition of their own trade restrictions and/or increased tariffs in response to substantial changes to U.S. trade and tax policies.

Although Corteva has operations throughout the world, Corteva’s sales outside the United States in 2023 were principally to customers in Brazil, Eurozone countries, and Canada. Further, Corteva’s largest currency exposures are the Brazilian Real, Canadian dollar, South African Rand, Swiss franc, European Euro ("EUR") and Argentine peso. Inflation, market uncertainty or an economic downturn in these geographic areas could reduce demand for Corteva’s products and result in decreased sales volume, which could have a negative impact on Corteva’s results of operations. In addition, changes in exchange rates may affect Corteva’s results of operations, financial condition and cash flows in future periods. Corteva actively manages currency exposures that are associated with net monetary asset positions and committed purchases.

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Part I

ITEM 1A.  RISK FACTORS, continued

Failure to effectively manage acquisitions, divestitures, alliances, restructurings, cost savings initiatives and other portfolio actions may not have the results anticipated.

From time to time Corteva evaluates acquisition candidates that may strategically fit Corteva’s business and/or growth objectives. If Corteva is unable to successfully integrate and develop acquired businesses, including its acquisitions and growth in biologicals, Corteva could fail to achieve expected increases in revenues and operating results, as well as anticipated synergies and cost savings which could have a material adverse effect on Corteva’s financial results. Corteva continually reviews its portfolio of assets for contributions to its objectives and alignment with its strategy. However, Corteva may not be successful in separating underperforming or non-strategic assets and gains or losses on the divestiture of, or lost operating income from, such assets, which may affect Corteva’s earnings. Moreover, Corteva might incur asset impairment charges related to acquisitions or divestitures that reduce its earnings. In addition, if the execution of these transactions, initiatives, or portfolio actions is not successful, it could adversely impact Corteva’s financial condition, cash flows and results of operations.

Corteva’s business, results of operations and financial condition could be adversely affected by industrial espionage and other disruptions to its supply chain, information technology or network systems.

Business and/or supply chain disruptions, plant and/or power outages and information technology system and/or network disruptions, regardless of cause including acts of sabotage, employee error or other actions, geo-political activity, military conflict, local epidemics or pandemics, weather events and natural disasters could seriously harm Corteva’s operations as well as the operations of its customers and suppliers. For example, a pandemic in locations where Corteva has significant operations, sales, or key suppliers could have a material adverse effect on Corteva’s results of operations. In addition, terrorist attacks and natural disasters have increased stakeholder concerns about the security and safety of chemical production and distribution.

Business and/or supply chain disruptions may also be caused by security breaches, which could include, for example, ransomware attacks and attacks on information technology and infrastructure by hackers, viruses, breaches due to employee error or actions or other disruptions. Corteva and/or its suppliers may fail to effectively prevent, detect and recover from these or other security breaches and, as a consequence, such breaches could result in misuse of Corteva’s assets, business disruptions, loss of property including trade secrets and confidential business information, legal claims or proceedings, reporting errors, processing inefficiencies, negative media attention, loss of sales and interference with regulatory and data privacy compliance.

Like most major corporations, Corteva is the target of industrial espionage, including cyber-attacks, from time to time. Corteva has determined that these incidents have resulted, and could result in the future, in unauthorized parties gaining access to certain confidential business information. However, to date, Corteva has not experienced any material financial impact, changes in the competitive environment or impact on business operations from these events. Although management does not believe that Corteva has experienced any material losses to date related to industrial espionage and security breaches, including cybersecurity incidents, there can be no assurance that Corteva will not suffer such losses in the future.

Corteva actively manages the risks within its control that could lead to business disruptions and security breaches. As these threats continue to evolve, particularly around cybersecurity and artificial intelligence, Corteva may be required to expend significant resources to enhance its control environment, processes, practices and other protective measures. Despite these efforts, such events could also have a material adverse effect on Corteva’s business, financial condition, results of operations and reputation. Additionally, any losses from such an event may be excluded from, or in excess of the coverages provided by Corteva's insurance policies.

Corteva’s customers may be unable to pay their debts to Corteva, which could adversely affect Corteva’s results.

Corteva offers its customers financing programs with credit terms generally less than one year from invoicing in alignment with the growing season. Due to these credit practices as well as the seasonality of Corteva’s operations, Corteva may need to issue short-term debt at certain times of the year to fund its cash flow requirements. Corteva’s customers may be exposed to a variety of conditions that could adversely affect their ability to pay their debts. For example, customers in economies experiencing an economic downturn or in a region experiencing adverse growing conditions may be unable to repay their obligations to Corteva, which could adversely affect Corteva’s results.

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Part I

ITEM 1A.  RISK FACTORS, continued

Corteva’s liquidity, business, results of operations and financial condition could be impaired if it is unable to raise capital through the capital markets or short-term debt borrowings.

Any limitation on Corteva’s ability to raise money in the capital markets or through short-term debt borrowings could have a substantial negative effect on Corteva’s liquidity. Corteva’s ability to affordably access the capital markets and/or borrow short- term debt in amounts adequate to finance its activities could be impaired as a result of a variety of factors, including factors that are not specific to Corteva, such as a severe disruption of the financial markets and, in the case of debt securities or borrowings, interest rate fluctuations. Due to the seasonality of Corteva’s business and the credit programs Corteva may offer its customers, net working capital investment and corresponding debt levels will fluctuate over the course of the year.

Corteva regularly extends credit to its customers to enable them to purchase seeds or crop protection products at the beginning of the growing season. The customer receivables may be used as collateral for short-term financing programs. Any material adverse effect upon Corteva’s ability to own or sell such customer receivables, including seasonal factors that may impact the amount of customer receivables Corteva owns, may materially impact Corteva’s access to capital.

Corteva has additional agreements with financial institutions to establish programs that provide financing for select customers of Corteva’s seed and crop protection products in the United States, Latin America, Europe and Asia. The programs are renewed on an annual basis. In most cases, Corteva guarantees the extension of such credit to such customers. If Corteva is unable to renew these agreements or access the debt markets to support customer financing, Corteva’s sales may be negatively impacted, which could result in increased borrowing needs to fund working capital.

Corteva’s earnings, operations and business, among other things, will impact its credit ratings, costs and availability of financing. There can be no assurance that Corteva or EIDP will maintain its current or prospective credit ratings. A decrease in the ratings assigned to Corteva or EIDP by the ratings agencies may negatively impact Corteva’s liquidity, access to the debt capital markets and increase Corteva’s cost of borrowing and the financing of its seasonal working capital.

Increases in pension and other post-employment benefit plan funding obligations may adversely affect Corteva’s results of operations, liquidity or financial condition.

Through Corteva's ownership of EIDP, Corteva maintains EIDP defined benefit pension and other post-employment benefit plans. For some of these plans, including EIDP’s principal U.S. pension plan, Corteva continues as sponsor for the entire plan regardless of whether participants, including retirees, are or were associated with EIDP’s agriculture business. Corteva uses many assumptions in calculating its expected future payment obligations under these plans. Significant adverse changes in credit or market conditions could result in actual rates of returns on pension investments being lower than assumed. In addition, expected future payment obligations may be adversely impacted by changes in assumptions regarding participants, including retirees. In 2024, Corteva expects to contribute approximately $50 million to its pension plans other than the principal U.S. pension plan, and about $115 million for its other post-employment benefit ("OPEB") plans. While not anticipated for 2024, Corteva may make potential discretionary contributions to the principal U.S. pension plan. Corteva, furthermore, may be required to make significant contributions to its pension plans in the future, which could adversely affect Corteva’s results of operations, liquidity and financial condition.

Sentiment towards climate change and other environmental, social and governance matters could adversely affect our stock price, results of operations, and access to capital.

Since 2020, Corteva has maintained certain commitments, aspirations, targets and initiatives as part of its sustainability programs. Execution of these strategies and the achievements of Corteva’s sustainability aspirations and goals are subject to risk and uncertainties, many of which are out of its control. Failure to achieve its sustainability aspirations and goals within the currently projected costs and expected timeframes could damage Corteva’s reputation, customer and investor relationships, or its access to financing. Further, given investors' increased focus related to sustainability matters, such a failure could cause stockholders to reduce their ownership holdings, all of which, in turn could adversely affect Corteva’s business, financial condition, results of operations and cash flows and reduce its stock price.

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ITEM 1A.  RISK FACTORS, continued

Global or regional health pandemics or epidemics could negatively impact the company's business, financial condition and results of operations.

Corteva's business, financial condition, and results of operations could be negatively impacted by pandemics or epidemics. The severity, magnitude and duration of the pandemics is uncertain, rapidly changing and difficult to predict. Future pandemics or epidemics and resulting illness, travel restrictions and workforce disruptions could impact Corteva's global supply chain, its operations and its routes to market or those of its suppliers, co-manufacturers, or customers/distributors. These disruptions or the company's failure to effectively respond to them could increase product or distribution costs, alter the timing of recognizing manufacturing costs, or impact the delivery of products to customers or their ability to pay.

Government-pandemic or epidemic responses, including stay at home orders, can significantly impact other economic activity and markets around the world. Future outbreaks or pandemics could negatively impact the company's business, financial condition, and results of operations in numerous ways, including but not limited to increased market volatility that impacts the company's hedging, financial forecasting, and liquidity, including its access to capital markets and delays or modifications to the company's strategic plans and productivity initiatives.

Risks Related to Our Intellectual Property

Enforcing Corteva’s intellectual property rights, or defending against intellectual property claims asserted by others, could materially affect Corteva’s business, results of operations and financial condition.

Intellectual property rights, including patents, plant variety protection, trade secrets, confidential information, trademarks, trade names and other forms of trade dress, are important to Corteva’s business. Corteva endeavors to protect its intellectual property rights in jurisdictions in which its products are produced or used and in jurisdictions into which its products are imported. However, Corteva may be unable to obtain protection for its intellectual property in key jurisdictions. Further, changes in government policies and regulations, including changes made in reaction to pressure from non-governmental organizations, or the public generally, could impact the extent of intellectual property protection afforded by such jurisdictions.

Corteva has designed and implemented internal controls to restrict use of, access to and distribution of its intellectual property. Despite these precautions, Corteva’s intellectual property is vulnerable to infringement, misappropriation and other unauthorized access, including through employee or licensee error or actions, theft and cybersecurity incidents, and other security breaches. When unauthorized access and use or counterfeit products are discovered, Corteva reports such situations to governmental authorities for investigation, as appropriate, and takes measures to mitigate any potential impact. Protecting intellectual property related to biotechnology is particularly challenging because theft is difficult to detect and biotechnology can be self-replicating.

Competitors are increasingly challenging intellectual property positions and the outcomes can be highly uncertain. Third parties may claim Corteva’s products violate their intellectual property rights. Defending such claims, even those without merit, could be time-consuming and expensive. In addition, any such claim could result in Corteva’s having to enter into license agreements, develop non-infringing products or engage in litigation that could be costly. If challenges are resolved adversely, it could negatively impact Corteva’s ability to obtain licenses on competitive terms, develop and commercialize new products and generate sales from existing products.

In addition, because of the rapid pace of technological change, the confidentiality of patent applications in some jurisdictions and/or the uncertainty in predicting the outcome of complex proceedings relating to ownership and the scope of patents relating to certain emerging technologies, competitors may be issued patents related to Corteva’s business unexpectedly. These patents could reduce the value of Corteva’s commercial or pipeline products or, to the extent they cover key technologies on which Corteva has relied, require Corteva to seek to obtain licenses (and Corteva cannot ensure it would be able to obtain such a license on acceptable terms) or cease using the technology, no matter how valuable to Corteva’s business.

Legislation and jurisprudence on patent protection is evolving and changes in laws could affect Corteva’s ability to obtain or maintain patent protection for, and otherwise enforce Corteva’s patents related to, its products.

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Part I

ITEM 1A.  RISK FACTORS, continued

Corteva’s business may be adversely affected by the availability of counterfeit products.

A counterfeit product is one that has been deliberately and fraudulently mislabeled as to its identity and source. A counterfeit Corteva product, therefore, is one manufactured by someone other than Corteva, but which appears to be the same as an authentic Corteva product. The prevalence of counterfeit products is a significant and growing industry-wide issue due to a variety of factors, including, but not limited to, the following: the widespread use of the Internet, which has greatly facilitated the ease by which counterfeit products can be advertised, purchased and delivered to individual consumers; the availability of sophisticated technology that makes it easier for counterfeiters to make counterfeit products; and the relatively modest risk of penalties faced by counterfeiters compared to the large profits that can be earned by them from the sale of counterfeit products. Further, laws against counterfeiting vary greatly from country to country, and the enforcement of existing laws varies greatly from jurisdiction to jurisdiction. For example, in some countries, counterfeiting is not a crime; in others, it may result in only minimal sanctions. In addition, those involved in the distribution of counterfeit products use complex transport routes to evade customs controls by disguising the true source of their products.

Corteva’s global reputation makes its products prime targets for counterfeiting organizations. Counterfeit products pose a risk to consumer health and safety because of the conditions under which they are manufactured (often in unregulated, unlicensed, uninspected and unsanitary sites) as well as the lack of regulation of their contents. Failure to mitigate the threat of counterfeit products, which is exacerbated by the complexity of the supply chain, could adversely impact Corteva’s business by, among other things, causing the loss of consumer confidence in Corteva’s name and in the integrity of its products, potentially resulting in lost sales and an increased threat of litigation.

Corteva undertakes significant efforts to counteract the threats associated with counterfeit products, including, among other things, working with regulatory authorities and multinational coalitions to combat the counterfeiting of products and supporting efforts by law enforcement authorities to prosecute counterfeiters; assessing new and existing technologies to seek to make it more difficult for counterfeiters to copy Corteva’s products and easier for consumers to distinguish authentic from counterfeit products; working diligently to raise public awareness about the dangers of counterfeit products; working collaboratively with wholesalers, customs offices and law enforcement agencies to increase inspection coverage, monitor distribution channels and improve surveillance of distributors; and working with other members of an international trade association of agrochemical companies to promote initiatives to combat counterfeiting activity. No assurance can be given, however, that Corteva’s efforts and the efforts of others will be entirely successful, and the presence of counterfeit products may continue to increase.

Restrictions under the intellectual property cross-license agreements limit Corteva’s ability to develop and commercialize certain products and services and/or prosecute, maintain and enforce certain intellectual property.

The company is dependent to a certain extent on DuPont and Dow to maintain and enforce certain of the intellectual property licensed under the Intellectual Property Cross-License Agreements. For example, DuPont and Dow are responsible for filing, prosecuting and maintaining (at their respective discretion) patents on trade secrets and know-how that they each respectively license to Corteva. They also have the first right to enforce their respective trade secrets and know-how licensed to Corteva. If DuPont or Dow, as applicable, fails to fulfill its obligations or chooses to not enforce the licensed patents, trade secrets or know-how under the Intellectual Property Cross-License Agreements, the company may not be able to prevent competitors from making, using and selling competitive products and services.

In addition, Corteva’s use of the intellectual property licensed to it under the Intellectual Property Cross-License Agreements is restricted to certain fields, which could limit Corteva’s ability to develop and commercialize certain products and services. For example, the licenses granted to Corteva under the agreement will not extend to all fields of use that the company may decide to enter into in the future. These restrictions may make it more difficult, time consuming and/or expensive for Corteva to develop and commercialize certain new products and services, or may result in certain of its products or services being later to market than those of its competitors.

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Part I

ITEM 1A.  RISK FACTORS, continued

Risks Related to The Separation

In connection with the Separation the company has assumed, and agreed to indemnify DuPont and Dow for, certain liabilities. If the company is required to make payments pursuant to these indemnities, the company may need to divert cash to meet those obligations and its financial results could be negatively impacted. In addition, DuPont and Dow will indemnify Corteva for certain liabilities. These indemnities may not be sufficient to insure the company against the full amount of liabilities it incurs, and DuPont and/or Dow, and/or their historical separated businesses, may not be able to satisfy their indemnification obligations in the future.

Pursuant to the Separation Agreement, the Employee Matters Agreement and the Tax Matters Agreement with DuPont and Dow, the company agreed to assume, and indemnify DuPont and Dow for, certain liabilities for uncapped amounts, which may include, among other items, associated defense costs, settlement amounts and judgments, as discussed further in Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements and Part I - Item 3 - Legal Proceedings. Payments pursuant to these indemnities may be significant and could negatively impact the company’s business, particularly indemnities relating to certain litigation for Historical DuPont operations or its actions that could impact the tax-free nature of the Corteva Distribution. Third parties could also seek to hold the company responsible for any of the liabilities allocated to DuPont and Dow, including those related to DowDuPont’s specialty products and/or materials science businesses, respectively, and those related to discontinued and/or divested businesses and operations of Historical Dow, which have been allocated to Dow. DuPont and/or Dow, as applicable, will agree to indemnify Corteva for such liabilities, but such indemnities may not be sufficient to protect the company against the full amount of such liabilities. In addition, DuPont and/or Dow, as applicable, may not be able to fully satisfy their indemnification obligations with respect to the liabilities the company incurs. Even if the company ultimately succeeds in recovering from DuPont and/or Dow, as applicable, any amounts for which the company is held liable, the company may be temporarily required to bear these losses itself. Each of these risks could negatively affect the company’s business, financial condition, results of operations and cash flows.

Additionally, the company generally has assumed and is responsible for the payment of its share of (i) certain liabilities of DowDuPont relating to, arising out of or resulting from certain general corporate matters of DowDuPont, (ii) certain liabilities of Historical DuPont relating to, arising out of or resulting from general corporate matters of Historical DuPont and discontinued and/or divested businesses and operations of Historical DuPont, including its spin-off of Chemours, and (iii) certain separation expenses not otherwise allocated to DuPont or Dow (or allocated specifically to Corteva) pursuant to the Corteva Separation Agreement, and third parties could seek to hold Corteva responsible for DuPont’s or Dow’s share of any such liabilities. For more information, see Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements and Part I - Item 3 - Legal Proceedings. DuPont and/or Dow, as applicable, will indemnify Corteva for their share of any such liabilities; however, such indemnities may not be sufficient to protect Corteva against the full amount of such liabilities, and/or DuPont and/or Dow may not be able to fully satisfy their respective indemnification obligations. In addition, even if the company ultimately succeeds in recovering from DuPont and/or Dow any amounts for which the company is held liable in excess of its agreed share, the company may be temporarily required to bear these losses itself and may not be able to fully insure itself to cover these risks. Each of these risks could materially affect the company’s business, financial condition, results of operations and cash flows.

The Separation and related transactions may expose Corteva to potential liabilities arising out of state and federal fraudulent conveyance laws

Although the company received a solvency opinion from an investment bank confirming that the company and DuPont were each adequately capitalized following the Distribution, the Separation could be challenged under various state and federal fraudulent conveyance laws. In connection with fraudulent conveyances or transfers are generally defined to include transfers made or obligations incurred with the actual intent to hinder, delay or defraud current or future creditors or transfers made or obligations incurred for less than reasonably equivalent value when the debtor was insolvent, or that rendered the debtor insolvent, inadequately capitalized or unable to pay its debts as they become due. Any unpaid creditor could claim that DuPont did not receive fair consideration or reasonably equivalent value in the Separation and Corteva Distribution, and that the Separation and Corteva Distribution left DuPont insolvent or with unreasonably small capital or that DuPont intended or believed it would incur debts beyond its ability to pay such debts as they matured. Additionally, under its indemnity provisions of the Separation Agreement, the company could find its liabilities increased as a result of a court concluding that Historical DuPont, Historical Dow or DowDuPont executed a fraudulent conveyance in connection with divestitures and spin-offs of any one of their historical operations, including Chemours. If a court were to agree with such a plaintiff, then such court could void the Separation and Distribution as a fraudulent transfer or impose substantial liabilities on Corteva, which could materially

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ITEM 1A.  RISK FACTORS, continued

adversely affect its financial condition and results of operations. Among other things, the court could return some of Corteva’s assets or shares of Corteva common stock to DuPont, provide DuPont with a claim for money damages against Corteva in an amount equal to the difference between the consideration received by DuPont and the fair market value of Corteva at the time of the Corteva Distribution, or require Corteva to fund liabilities of other companies involved in the Internal Reorganization for the benefit of creditors.

The Distribution is also subject to review under state corporate Distribution statutes. Under the Delaware General Corporation Law (the “DGCL”), a corporation may only pay dividends to its stockholders either (i) out of its surplus (net assets minus capital) or (ii) if there is no such surplus, out of its net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal year. Although the Distribution was made out of DowDuPont’s surplus and the company received an opinion that DowDuPont has adequate surplus under Delaware law to declare the dividend of Corteva common stock in connection with the Corteva Distribution, there can be no assurance that a court will not later determine that some or all of the Corteva Distribution was unlawful.

The company is subject to continuing contingent tax-related liabilities of DowDuPont following the Distribution.

There are several significant areas where the liabilities of DowDuPont may become Corteva’s obligations either in whole or in part. For example, under the Code and the related rules and regulations, each corporation that was a member of DowDuPont’s consolidated tax reporting group during any taxable period or portion of any taxable period ending on or before the effective time of the Distribution is jointly and severally liable for the U.S. federal income tax liability of the entire consolidated tax reporting group for such taxable period. Additionally, to the extent that any subsidiary of Corteva was included in the consolidated tax reporting group of either Historical DuPont or Historical Dow for any taxable period or portion of any taxable period ending on or before the effective date of the Merger, such subsidiary is jointly and severally liable for the U.S. federal income tax liability of the entire consolidated tax reporting group of Historical DuPont or Historical Dow, as applicable, for such taxable period. In connection with the Distributions, on April 1, 2019, the company entered into the Tax Matters Agreement with DuPont and Dow that allocates the responsibility for prior period consolidated taxes among Corteva, DuPont and Dow. If DuPont or Dow were unable to pay any prior period taxes for which it is responsible, however, the company could be required to pay the entire amount of such taxes, and such amounts could be significant. Other provisions of federal, state, local, or foreign law may establish similar liability for other matters, including laws governing tax-qualified pension plans, as well as other contingent liabilities.

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Part I

ITEM 1B.  UNRESOLVED STAFF COMMENTS

None.

ITEM 1C.  CYBERSECURITY

Risk Management and Strategy. The company’s risk management programs for cybersecurity are integrated into the company’s enterprise risk management and general compliance programs and processes.

Our cybersecurity program utilizes a layered, defense-in-depth strategy to identify and mitigate cybersecurity threats. The company’s information security team is responsible for the day-to-day management of the company’s global information security program, which includes defining policies and procedures to safeguard our information systems and data, conducting vulnerability, threat and third-party information security assessments, information security event management (i.e., responding to ransomware and other cyber-attacks, business continuity and recovery), evaluating external cyber intelligence, supporting industry cybersecurity efforts and working with governmental agencies. The global information security team also develops training for personnel (e.g., employees and contractors) with access to Corteva’s system to support adherence to the company’s policies and procedures, along with increasing awareness of cyber-related risk. The personnel training includes, but is not limited to, mandatory onboarding training, phishing simulations with automated remediation training, table-top incident response exercises, and educational intranet posting and email campaigns.

Our Enterprise Risk Management Committee, which includes the company’s Chief Information Officer (“CIO”) and Chief Information Security Officer (“CISO”), independently assesses and monitors the effectiveness of the company’s cybersecurity risk management programs and strategies. The company’s internal audit function also performs independent reviews and validation of the various programs, including policies and procedures as determined by their annual risk assessment.

The company leverages the U.S. Department of Commerce’s National Institute of Standards and Technology (“NIST”) Cybersecurity Framework (“Framework”) as the foundation of its global information security program. The NIST Framework provides standards, guidelines, and practices for organizations to better manage and reduce cybersecurity risk and is designed to foster risk and cybersecurity management communications amongst both internal and external organizational stakeholders. The company’s information security team works with independent, third-party consultants annually to assess the maturity of the company’s cybersecurity program within the NIST Framework and to develop strategic areas of focus for the company’s programs commensurate with the company’s business objectives.

As part of the company’s global information security program, we leverage both internal and external assessments and partnerships with industry leaders to help approach information security company-wide. Additionally, the company maintains a comprehensive program that defines standards for the planning, sourcing, management, and oversight of third-party relationships and third-party access to its system, facilities, and/or confidential or proprietary data.

Cybersecurity incidents may create risk to the company that may impact its reputation, financial performance, ability to operate safely or at all, and the value of its intellectual property. Like most major corporations, the company is the target of industrial espionage, including cyberattacks, from time to time. The company has determined that these incidents have resulted, and could result in the future, in unauthorized parties gaining access to certain confidential business information. However, to date, Corteva has not experienced any known cybersecurity incidents that have materially affected the company, including the company's results of operations and financial condition, changes in the competitive environment, business operations and strategy. Although management does not believe that Corteva has experienced any material losses to date related to cybersecurity incidents, there can be no assurance that Corteva will not suffer such losses in the future. For more information on potential risk related to cybersecurity incidents, including intellectual property theft and operational disruption, please see “Item 1A – Risk Factors” of this report.

Governance. The company’s Audit Committee and Governance and Compliance Committee provide board oversight of company cybersecurity risks. The Audit Committee conducts a minimum of two cybersecurity program updates per year, including a review of capital spend, budget, and staffing, as well as quarterly reports on cybersecurity threats and key risk indicators related to the company’s progress on risk mitigation activities. The Governance and Compliance Committee, as part of its oversight for the enterprise risk management program company-wide, reviews and ensures that the company’s oversight

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Part I

and governance structure related to company risks, including cybersecurity risks, remains appropriate and that risks are appropriately managed.

The company’s CIO oversees the company’s information technology programs and investments. The company’s CISO reports to the CIO and oversees the company’s information security programs. The company’s CIO has over 30 years of information technology experience, including nine years in various information technology leadership roles. Our CIO holds a bachelor of science and master of science degrees in organizational communications as well as an M.B.A. in information technology. The company’s CISO has over thirty years of experience in information security and is a Certified Information Security Manager® (CISM®), a Certified Data Privacy Solutions Engineer™ (CDPSE®), as well as being Certified in Risk and Information Systems Control® (CRISC®). Our CISO holds a bachelor of science degree in electric engineering as well as an M.B.A. in operations, technology.

Both the CIO and CISO regularly report to the Audit Committee, Board and Governance and Compliance Committee, on the company’s identification, prevention, detection, mitigation and remediation of cybersecurity risks and incidents. In 2023, the Board reviewed the company’s cybersecurity program and maturity assessment, while the Audit Committee provided regular oversight of cybersecurity risks, with cybersecurity discussions and dashboard reviews of key performance indicators and risks at five committee meetings during the course of the year. With respect to specific incidents, the company leverages an incident response framework to elevate and evaluate specific incidents to the CIO and CISO, along with the company’s senior leadership, including the finance and legal functions. In the event of a potentially material cybersecurity incident, the Audit Committee would be immediately notified and briefed.

ITEM 2. PROPERTIES

The company operates out of its headquarters in Indianapolis, Indiana. It also maintains a global business center in Johnston, Iowa, for its seed business. Its manufacturing, processing, marketing and research and development facilities, as well as regional purchasing offices and distribution centers, are located throughout the world. The company has 99 manufacturing sites in the following geographic regions:

	Number of Sites
	Crop	Seed	Total
North America1	7	40	47
EMEA2	14	8	22
Latin America	8	13	21
Asia Pacific	6	3	9
Total	35	64	99

1.    North America consists of U.S. & Canada.

2.    Europe, Middle East, and Africa ("EMEA").

The company's principal sites include facilities which, in the opinion of management, are suitable and adequate for their use and have sufficient capacity for the company's current needs and expected near-term growth. Properties are primarily owned by the company; however, certain properties are leased. No title examination of the properties has been made for the purpose of this report and certain properties are shared with other tenants under long-term leases.

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Part I

ITEM 3.  LEGAL PROCEEDINGS

The company is subject to various legal proceedings, including, but not limited to, product liability, intellectual property, antitrust, commercial, property damage, personal injury, environmental and regulatory matters arising out of the normal course of its current businesses or legacy EIDP businesses unrelated to Corteva’s current businesses but allocated to Corteva as part of the Separation of Corteva from DuPont.

Often these proceedings raise complex factual and legal issues, which are subject to risks and uncertainties and which could require significant amounts of senior leadership team’s time. Litigation and other claims, along with regulatory proceedings, against the company could also materially adversely affect its operations, reputation, and/or result in the incurrence of unexpected expenses and liability. Even when the company believes liabilities are not expected to be material or the probability of loss or of an adverse unappealable final judgment is remote, the company may consider settlement of these matters, and may enter into settlement agreements, if it believes settlement is in the best interest of the company, including avoidance of future distraction and litigation defense cost, and its shareholders. Information regarding certain of these matters is set forth below and in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements.

Litigation related to Corteva’s current businesses

Federal Trade Commission Investigation

On September 29, 2022, the FTC, along with ten state attorneys general, filed a lawsuit against Corteva and another competitor alleging the parties engaged in unfair methods of competition, unlawful conditioning of payments, unreasonably restrained trade, and have an unlawful monopoly (the “FTC lawsuit”). In December 2022, two additional state attorneys general joined the FTC lawsuit, and another state attorney general filed a separate lawsuit against Corteva and another competitor based on the allegations set forth in the FTC lawsuit. Several proposed private class action lawsuits alleging anticompetitive conduct based on the allegations set forth in the FTC lawsuit were centralized into a multi-district litigation in the U.S. District Court for the Middle District of North Carolina in February 2023. Further information with respect to these proceedings is set forth under “Federal Trade Commission Investigation” in in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements.

Lorsban® Lawsuits

As of December 31, 2023, there were pending personal injury and remediation lawsuits filed against the former Dow Agrosciences LLC in California alleging injuries related to exposure to, or contamination by, chlorpyrifos, the active ingredient in Lorsban®, an insecticide used by commercial farms for field fruit, nut and vegetable crops. Corteva ended its production of Lorsban® in 2020. Further information with respect to these proceedings is set forth under “Lorsban® Lawsuits” in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements.

Inari Disputes

On September 27, 2023, Corteva filed a lawsuit in Delaware federal court against Inari Agriculture, Inc. and Inari Agriculture. N.V. (collectively “Inari”) asserting claims of Plant Variety Protection infringement, indirect patent infringement, breach of contract, and civil conversion. Corteva’s lawsuit alleges Inari illegally obtained various varieties of seed technologies from a seed depository and illegally transported them abroad for the purpose of performing gene editing on the technologies and then filing a patent for such technologies. In December 2023, Inari filed a motion to dismiss the complaint.

Bayer Disputes

In August 2022, Corteva filed a lawsuit against Bayer CropScience LLP and Monsanto Company (collectively “Bayer”) in federal court in Delaware for alleged infringement of Corteva’s patented AAD-1 herbicide resistance technology used in Enlist® corn. The complaint for this lawsuit was amended to include additional patents that are closely related to this patented technology for soybeans. Corteva seeks to enjoin Bayer from continuing to infringe, as well as appropriate monetary damages. Bayer has filed an answer to the complaint and has asserted various affirmative defenses including invalidity. In August 2023, the court issued a decision adopting Corteva’s claim construction for all five disputed patent terms subject to this litigation.

In December 2023, the Patent Trial and Appeal Board ("PTAB") authorized an Inter Partes Review (“IPR”) proceeding initiated by Bayer to review the patentability of three patents subject to the AAD-1 litigation. Inari is seeking to join the IPR proceeding. An oral hearing will occur before the PTAB in September 2024 with decisions expected by December 2024. Corteva holds numerous additional patents covering its Enlist® traits or Enlist® weed control system. Therefore, the IPR process is not expected to impact our ability to license and protect Enlist E3® traits. Corteva's AAD-1 lawsuit is stayed during pendency of the IPR.

26

Part I

ITEM 3.  LEGAL PROCEEDINGS, continued

In October 2023, the U.S. Patent and Trademark Office granted an ex parte reexamination of the patent for AAD-1 herbicide resistance technology used in Enlist® corn based upon Inari’s petition for review. Inari alleges the AAD-1 patent is not patentably distinct from another Corteva patent for maize technology, and therefore not valid unless Corteva files a terminal disclaimer giving up its patent term adjustment for the AAD-1 technology, which would result in the AAD-1 patent expiring in May 2025.

In August 2022, Bayer filed breach of contract/declaratory judgment lawsuit in Delaware state court against Corteva relating to an agrobacterium cross-license agreement and E3® soybeans. Bayer alleges that Corteva practiced two Bayer patents in developing E3® soybeans, and therefore, is entitled to royalties pursuant to the terms of the cross-license agreement. Further information with respect to these proceedings is set forth under “Bayer Dispute” in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements.

In October 2022, Corteva filed a lawsuit against Bayer in Delaware state court seeking a declaration that, under the terms of Corteva’s licensing agreement and the law, Bayer is not entitled to collect patent royalties on the Roundup Ready® Corn 2 trait after Bayer’s U.S. patent protection expires. In March 2023, Bayer’s motion to dismiss the complaint was denied. Discussions continue between Bayer and Corteva to seek a resolution to these disputes.

Litigation related to legacy EIDP businesses unrelated to Corteva’s current businesses

As discussed below and in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, certain of the environmental proceedings and litigation allocated to Corteva as part of the Separation from DuPont relate to the legacy EIDP businesses, including their use of PFOA, which, for purposes of this report, means collectively perfluorooctanoic acid and its salts, including the ammonium salt and does not distinguish between the two forms, and PFAS, which means per- and polyfluoroalkyl substances, including PFOA, PFOS (perfluorooctanesulfonic acid), GenX and other perfluorinated chemicals and compounds ("PFCs"). This litigation includes multiple natural resource damage lawsuits across the United States filed by municipalities and alleging PFOA contamination, as well as, lawsuits by four municipalities in the Netherlands filed complaints alleging contamination of land and groundwater resulting from the emission of PFOA and GenX by Corteva, DuPont and Chemours.

In addition to the matters set forth in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, on March 25, 2019, the New Jersey Department of Environmental Protection (“NJDEP”) issued a Statewide PFAS Directive to several companies, including Chemours, DuPont, and EIDP. The Directive seeks information relating to the use and environmental release of PFAS and PFAS-replacement chemicals at and from two former EIDP sites in New Jersey, Chambers Works and Parlin, and a funding source for costs related to the NJDEP’s investigation of PFAS issues and PFAS testing and remediation.

On January 22, 2021, Chemours, DuPont, Corteva and EIDP entered into a binding memorandum of understanding containing a settlement to resolve legal disputes related to Chemours' responsibility for litigation and environmental liabilities allocated to it, and to establish a cost sharing arrangement and escrow account to be used to support and manage potential future legacy PFAS liabilities arising out of pre-July 1, 2015 conduct (the “MOU”). See Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements for further discussion.

Other Environmental Proceedings

The company believes it is remote that the following matters will have a material impact on its financial position, liquidity or results of operations. The matters below involve the potential for $1 million or more in monetary fines and are included per Item 103(3)(c)(iii) of Regulation S-K of the Securities Exchange Act of 1934, as amended.

Related to Corteva’s current businesses

Nebraska Department of Environment and Energy, AltEn Facility

The EPA and the Nebraska Department of Environment and Energy (“NDEE”) are pursuing investigations, response and removal actions, litigation and enforcement action related to an ethanol plant located near Mead, Nebraska and owned and operated by AltEn LLC (“AltEn”). Corteva is one of six seed companies, who were customers of AltEn (collectively, the "Facility Response Group"), participating in the NDEE’s Voluntary Cleanup Program to address certain interim remediation needs at the site. Further information with respect to these proceedings is set forth under “Nebraska Department of Environment and Energy, AltEn Facility” in Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements.

27

Part I

ITEM 3.  LEGAL PROCEEDINGS, continued

Related to legacy EIDP businesses unrelated to Corteva’s current businesses

Divested Neoprene Facility, La Place, Louisiana - EPA Compliance Inspection

In 2016, the EPA conducted a focused compliance investigation at the Denka Performance Elastomer LLC (“Denka”) neoprene manufacturing facility in La Place, Louisiana. EIDP sold the neoprene business, including this manufacturing facility, to Denka in the fourth quarter of 2015. In the spring of 2017, the EPA, the DOJ, the Louisiana Department of Environmental Quality, EIDP and Denka began discussions relating to the inspection conclusions and allegations of noncompliance arising under the Clean Air Act, including leak detection and repair. These discussions, which include potential settlement options, continue. Under the Separation Agreement, DuPont is defending and indemnifying the company in this matter.

New Jersey Directive Pompton Lakes

On March 27, 2019, the NJDEP issued to Chemours and EIDP a Natural Resource Damages Directive relating to chemical contamination (non-PFAS) at and around EIDP’s former Pompton Lakes facility in New Jersey. The Directive alleges that this contamination has harmed the natural resources of New Jersey. It seeks $125,000 as reimbursement for the cost of preparing a natural resource damages assessment, which the State will use to determine the extent of such damage and the amount it expects to seek to restore the affected natural resources to their pre-damage state.

ITEM 4.  MINE SAFETY DISCLOSURES

Not applicable.

Part II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market for Registrant's Common Equity and Related Stockholder Matters

The company's common stock is listed on the New York Stock Exchange, Inc. (symbol: CTVA). The number of record holders of common stock was approximately 66,000 at February 1, 2024.

During 2023 and 2022, the company paid four quarterly dividends on its common stock. See the below table for dividend information for each quarter during 2023 and 2022.

	2023		2022
Fourth Quarter	$	0.16	$	0.15
Third Quarter	0.16		0.15
Second Quarter	0.15		0.14
First Quarter	0.15		0.14
Total	$	0.62	$	0.58

See Part III, Item 11. Executive Compensation for information relating to the company’s equity compensation plans.

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Part II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES, continued

Issuer Purchases of Equity Securities

The following table summarizes information with respect to the company's purchase of its common stock during the three months ended December 31, 2023:

Month	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of the Company's Publicly Announced Share Buyback Program1	Approximate Value of Shares that May Yet Be Purchased Under the Program1 (Dollars in millions)
November 2023	2,150,483	46.58		2,150,483	1,570
December 2023	1,545,477	45.04		1,545,477	1,500
Fourth quarter 2023	3,695,960	$	45.94	3,695,960	$	1,500

1.On September 13, 2022, Corteva, Inc. announced that its Board of Directors authorized a $2 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date. The timing, price and volume of purchases will be based on market conditions, relevant securities laws and other factors.

Stock Performance Graph

The following graph illustrates the cumulative total return to Corteva stockholders following the completion of the Separation and beginning as of the closing price of its first NYSE listing date, June 3, 2019. The Chart compares the cumulative total return of Corteva’s common stock with the S&P 500 Stock Index and the S&P 500 Chemicals Index.

	6/3/2019		12/31/2019		12/31/2020		12/31/2021		12/31/2022		12/31/2023
Corteva	$	100	$	120	$	161	$	198	$	249	$	205
S&P 500 Index	100		119		141		181		149		188
S&P 500 Chemicals Index	100		112		129		160		139		151

The chart depicts a hypothetical $100 investment in each of the Corteva common stock, the S&P 500 Index and the S&P 500 Chemicals Index as of the closing price on June 3, 2019 and illustrates the value of each investment over time (assuming the reinvestment of dividends) until December 31, 2023.

ITEM 6.  [RESERVED]

Not applicable.

29

Part II

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

CAUTIONARY STATEMENTS ABOUT FORWARD-LOOKING STATEMENTS

This report contains certain estimates and forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates,” “outlook,” or other words of similar meaning. All statements that address expectations or projections about the future, including statements about Corteva’s financial results or outlook; strategy for growth; product development; regulatory approvals; market position; capital allocation strategy; liquidity; environmental, social and governance (“ESG”) targets and initiatives; the anticipated benefits of acquisitions, restructuring actions, or cost savings initiatives; and the outcome of contingencies, such as litigation and environmental matters, are forward-looking statements.

Forward-looking statements and other estimates are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements and other estimates also involve risks and uncertainties, many of which are beyond Corteva’s control. While the list of factors presented below is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Corteva’s business, results of operations and financial condition. Some of the important factors that could cause Corteva’s actual results to differ materially from those projected in any such forward-looking statements include: (i) failure to obtain or maintain the necessary regulatory approvals for some of Corteva’s products; (ii) failure to successfully develop and commercialize Corteva’s pipeline; (iii) effect of the degree of public understanding and acceptance or perceived public acceptance of Corteva’s biotechnology and other agricultural products; (iv) effect of changes in agricultural and related policies of governments and international organizations; (v) costs of complying with evolving regulatory requirements and the effect of actual or alleged violations of environmental laws or permit requirements; (vi) effect of climate change and unpredictable seasonal and weather factors; (vii) failure to comply with competition and antitrust laws; (viii) effect of competition in Corteva's industry; (ix) competitor’s establishment of an intermediary platform for distribution of Corteva's products; (x) impact of Corteva's dependence on third parties with respect to certain of its raw materials or licenses and commercialization; (xi) effect of volatility in Corteva's input costs; (xii) risk related to geopolitical and military conflict; (xiii) risks related to environmental litigation and the indemnification obligations of legacy EIDP liabilities in connection with the separation of Corteva; (xiv) risks related to Corteva's global operations; (xv) failure to effectively manage acquisitions, divestitures, alliances, restructurings, cost savings initiatives, and other portfolio actions; (xvi) effect of industrial espionage and other disruptions to Corteva’s supply chain, information technology or network systems; (xvii) failure of Corteva’s customers to pay their debts to Corteva, including customer financing programs; (xviii) failure to raise capital through the capital markets or short-term borrowings on terms acceptable to Corteva; (xix) increases in pension and other post-employment benefit plan funding obligations; (xx) capital markets sentiment towards ESG matters; (xxi) risks related to pandemics or epidemics; (xxii) Corteva’s intellectual property rights or defense against intellectual property claims asserted by others; (xxiii) effect of counterfeit products; (xxiv) Corteva’s dependence on intellectual property cross-license agreements; and (xxv) other risks related to the Separation from DowDuPont.

Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business. Where, in any forward-looking statement or other estimate, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva’s management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the section titled “Risk Factors” (Part I, Item 1A of this Form 10-K).

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Part II

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, continued

Overview

Refer to pages 3 - 4 for a discussion of the DowDuPont Merger, the Internal Reorganizations, and the business separations.

The following is a summary of results from continuing operations for the year ended December 31, 2023:

•The company reported net sales of $17,226 million, a decrease of 1 percent versus the year ended December 31, 2022, reflecting a 10 percent decrease in volume and a 1 percent unfavorable impact from currency, partially offset by a 7 percent price increase and a 3 percent favorable portfolio and other impact.

•Cost of goods sold ("COGS") totaled $9,920 million, down from $10,436 million for the year ended December 31, 2022, primarily driven by lower volumes, ongoing cost and productivity actions and a decrease in royalty expense, partially offset by higher input costs, which are primarily macro-economic driven.

•Restructuring and asset related charges - net were $336 million, a decrease from $363 million for the year ended December 31, 2022. The year ended December 31, 2023 primarily included $217 million related to asset related charges, including non-cash impairment charges of $152 million, and contract termination charges associated with the Crop Protection Operations Strategy Restructuring Program, charges of $72 million of non-cash accelerated prepaid royalty amortization expense related to Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits and $42 million related to severance and related benefit costs, asset related charges and contract termination charges associated with the 2022 Restructuring Actions.

•Income from continuing operations after income taxes was $941 million, as compared to $1,216 million for the year ended December 31, 2022.

•Operating EBITDA was $3,381 million, which improved from $3,224 million for the year ended December 31, 2022, primarily driven by price execution and productivity actions, partially offset by lower volumes coupled with cost and currency headwinds. Refer to page 44 for further discussion of the company's Non-GAAP financial measures.

In addition to the financial highlights above, the following events occurred during the year ended December 31, 2023:

•The company returned approximately $1.2 billion to shareholders during the year ended December 31, 2023 under its previously announced share repurchase programs and through common stock dividends.

•On July 21, 2023, the company's Board of Directors approved a 6.7 percent increase in the quarterly common stock dividend from $0.15 per share to $0.16 per share.

Priorities

The company continues to believe the following priorities will create significant value for its customers and shareholders over the mid-term:

•Accelerate performance and growth through a value creation network focused on four key catalysts: (1) portfolio simplification that prioritizes core markets and crops, in which we deliver top tier technology to our customers, (2) a continued move towards royalty neutrality, (3) improve our product mix to focus on differentiation and yield advantage, and (4) operational improvements focused on driving price and productivity.

•Increased investment in our industry-leading innovation pipeline focused on delivering even greater value and productivity to growers through more differentiated and sustainably advantaged solutions, which in turn promise to strengthen global food security and help address the impacts of climate change.

•Deploy capital with discipline by balancing investment, growth, M&A opportunities and returning cash to shareholders.

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ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, continued

Analysis of Operations

Acquisitions

On March 1, 2023, Corteva completed its previously announced acquisition of all the outstanding equity interests in Stoller Group Inc. (“Stoller”), one of the largest independent companies in the Biologicals industry, and Quorum Vital Investment, S.L. and its affiliates (“Symborg”), an expert in microbiological technologies. The purchase price for Stoller and Symborg was $1,220 million, inclusive of a working capital adjustment, and $370 million, respectively. These acquisitions supplement the crop protection business with additional biological tools that complement evolving farming practices. See Note 4 - Business Combinations, to the Consolidated Financial Statements, for additional information.

Crop Protection Operations Strategy Restructuring Program

On November 5, 2023, management of the company approved a plan to further optimize its Crop Protection network of manufacturing and external partners (the "Crop Protection Operations Strategy Restructuring Program"). The plan includes the exit of the company’s production activities at its site in Pittsburg, California, as well as ceasing operations in select manufacturing lines at other locations.

The company expects to record aggregate pre-tax restructuring and asset related charges of $410 million to $460 million, comprised of $70 million to $90 million of severance and related benefit costs, $320 million to $340 million of asset-related and impairment charges and $20 million to $30 million of costs related to contract terminations. Reductions in workforce are subject to local regulatory requirements.

Future cash payments related to these charges are anticipated to be $90 million to $120 million, which primarily relate to the payment of severance and related benefits and contract terminations. During the year ended December 31, 2023, the company paid $3 million associated with these charges. The restructuring actions associated with these charges are expected to be substantially complete in 2024.

During the year ended December 31, 2023, the company recorded pre-tax restructuring and asset related charges of $229 million consisting of $217 million and $12 million recognized in restructuring and asset related charges – net and cost of goods sold, respectively, in the company’s Consolidated Statement of Operations, which primarily related to asset-related charges and contract termination charges. Asset-related charges include non-cash impairments charges of $152 million, which were recognized during the year ended December 31, 2023 and consisted of $92 million and $60 million relating to operating lease assets and property, plant and equipment, respectively, associated with the exit of the company’s production activities at its site in Pittsburg, California.

The Crop Protection Operations Strategy Restructuring Program is expected to contribute to the company’s ongoing cost and productivity improvement efforts through achieving an estimated $100 million of savings on a run rate basis by 2025. Future actions by the company or changes in circumstances from current assumptions, including any site disposition gains or losses, may cause actual results and future cash payments to differ. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements for additional information.

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 Russia Exit (collectively the “2022 Restructuring Actions”). Through the year ended December 31, 2023, the company recorded pre-tax restructuring and other charges of $373 million inception-to-date under the 2022 Restructuring Actions, consisting of $131 million of severance and related benefit costs, $116 million of asset related charges, $67 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 as actions associated with this charge are substantially complete.

Cash payments related to these charges are anticipated to be up to $210 million, of which approximately $150 million has been paid through December 31, 2023, and primarily relate to the payment of severance and related benefits, contract terminations and other charges.

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ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, continued

The total pre-tax restructuring and other charges recognized through the year ended December 31, 2023 included $53 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 $30 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 Consolidated Statement of Operations, relating to inventory write-offs of $3 million and settlement costs of $8 million, respectively.

The 2022 Restructuring Actions are expected to contribute to the company’s ongoing cost and productivity improvement efforts through achieving an estimated $210 million to $220 million of savings on a run rate basis by 2025. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements for additional information.

Share Buyback Plan

On September 13, 2022, Corteva, Inc. announced that its Board of Directors authorized a $2 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2022 Share Buyback Plan"). The timing, price and volume of purchases will be based on market conditions, relevant securities laws and other factors. In connection with the 2022 Share Buyback Plan, the company repurchased and retired 10,026,000 shares in the open market for a cost (excluding excise taxes) of $500 million during the year ended December 31, 2023.

On August 5, 2021, Corteva, Inc. announced that its Board of Directors authorized a $1.5 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2021 Share Buyback Plan"). The company completed the 2021 Share Buyback Plan during the first quarter of 2023 and repurchased and retired 4,098,000, 17,425,000 and 5,572,000 shares in the open market for a total cost of $250 million, $1 billion, and $250 million during the years ended December 31, 2023, 2022 and 2021, respectively.

On June 26, 2019, Corteva, Inc. announced that its Board of Directors authorized a $1 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2019 Share Buyback Plan"). The company completed the 2019 Share Buyback Plan during the third quarter of 2021 and repurchased and retired 24,705,000 shares between the years ended December 31, 2019 and 2021 in the open market.

2021 Restructuring Actions

During the first quarter of 2021, Corteva approved restructuring actions designed to right-size and optimize footprint and organizational structure according to the business needs in each region with the focus on driving continued cost improvement and productivity. Through the year ended December 31, 2023, the company recorded net pre-tax restructuring charges of $167 million inception-to-date under the 2021 Restructuring Actions, consisting of $70 million of severance and related benefit costs, $45 million of asset related charges, $12 million of asset retirement obligations and $40 million of costs related to contract terminations (contract terminations includes early lease terminations). Actions associated with the 2021 Restructuring Actions were substantially complete by the end of 2021. The company expected the 2021 Restructuring Actions to contribute to the company’s ongoing cost and productivity improvement efforts and achieve an estimated $70 million of savings on a run rate basis by 2023, which was achieved. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

Results of Operations

Net Sales

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Net Sales	$	17,226	$	17,455	$	15,655

2023 versus 2022

Net sales were $17,226 million for the year ended December 31, 2023, compared to $17,455 million for the year ended December 31, 2022. The decrease was primarily driven by a 10 percent decrease in volume versus the prior year and a 1 percent unfavorable impact from currency, partially offset by a 7 percent increase in price and a 3 percent favorable portfolio and other impact. Volume declines were driven by strategic product exits, crop protection channel inventory destocking, delayed farmer purchases, lower corn planted area in EMEA, reduced summer corn planted area and lower expected Safrinha corn planted area in Brazil, and the Russia Exit, partially offset by increased corn acres in North America. The unfavorable currency impacts

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ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, continued

were led by the Turkish Lira, Canadian Dollar and Chinese Renminbi. Price gains were driven by continued execution on the company's price for value strategy, strong demand for new technology and strong execution in response to cost inflation led by EMEA, partially offset by challenging market dynamics in Latin America and North America. The portfolio and other impact was driven by the biologicals acquisitions and the sale of seeds already under production in Russia when the decision to exit the country was made and that the company was contractually required to purchase.

2022 versus 2021

Net sales were $17,455 million for the year ended December 31, 2022, compared to $15,655 million for the year ended December 31, 2021. The increase was primarily driven by a 10 percent increase in price and a 5 percent increase in volume versus the prior year period, partially offset by a 3 percent unfavorable currency impact and 1 percent unfavorable portfolio impact. Price gains were driven by the continued execution on the company's price for value strategy with strong execution across all regions in response to cost inflation, and recovery of higher input costs. The increase in volume was driven by continued penetration of new products and gains in all regions, partially offset by reduced corn acres in North America and supply constraints in North America canola. The unfavorable currency impacts were led by the Turkish Lira and the Euro, partially offset by the Brazilian Real. The portfolio impact was driven by a divestiture in Asia Pacific.

	For the Year Ended December 31,
(In millions)	2023				2022				2021
	Net Sales		% of Net Sales		Net Sales		% of Net Sales		Net Sales		% of Net Sales
Worldwide	$	17,226	100	%	$	17,455	100	%	$	15,655	100	%
North America	8,590		50	%	8,294		48	%	7,536		48	%
EMEA	3,367		19	%	3,256		19	%	3,123		20	%
Latin America	3,906		23	%	4,445		25	%	3,545		23	%
Asia Pacific	1,363		8	%	1,460		8	%	1,451		9	%

	Year Ended December 31, 2023 vs. 2022				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
(in millions)	$		%		Product Mix		Volume		Currency		Other
North America	$	296	4	%	6	%	(2)	%	—	%	—	%
EMEA	111		3	%	19	%	(11)	%	(8)	%	3	%
Latin America	(539)		(12)	%	2	%	(25)	%	3	%	8	%
Asia Pacific	(97)		(7)	%	7	%	(9)	%	(5)	%	—	%
Total	$	(229)	(1)	%	7	%	(10)	%	(1)	%	3	%

	Year Ended December 31, 2022 vs. 2021				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
(in millions)	$		%		Product Mix		Volume		Currency		Other
North America	$	758	10	%	8	%	2	%	—	%	—	%
EMEA	133		4	%	10	%	8	%	(14)	%	—	%
Latin America	900		25	%	16	%	7	%	2	%	—	%
Asia Pacific	9		1	%	7	%	2	%	(6)	%	(2)	%
Total	$	1,800	11	%	10	%	5	%	(3)	%	(1)	%

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ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, continued

COGS

	For the Year Ended December 31,
(In millions)	2023		2022		2021
COGS	$	9,920	$	10,436	$	9,220

2023 versus 2022

COGS was $9,920 million (58 percent of net sales) for the year ended December 31, 2023 compared to $10,436 million (60 percent of net sales) for the year ended December 31, 2022. The decrease was primarily driven by lower volumes, ongoing cost and productivity actions and a decrease in royalty expense, partially offset by higher input costs, which are primarily macro-economic driven. The macro-economic driven trends are due to inflationary pressures impacting raw material inputs, which are expected to improve in 2024.

2022 versus 2021

COGS was $10,436 million (60 percent of net sales) for the year ended December 31, 2022 compared to $9,220 million (59 percent of net sales) for the year ended December 31, 2021. The increase was primarily driven by increased volumes in crop protection, and higher input costs, freight and logistics, which were primarily market-driven. The increases were partially offset by ongoing cost and productivity actions and a favorable impact from currency.

Research and Development Expense ("R&D")

	For the Year Ended December 31,
(In millions)	2023		2022		2021
R&D	$	1,337	$	1,216	$	1,187

2023 versus 2022

R&D expense was $1,337 million (8 percent of net sales) for the year ended December 31, 2023 and $1,216 million (7 percent of net sales) for the year ended December 31, 2022. The increase in R&D expense is in support of the company’s long-term growth plans and was primarily driven by an increase in salaries due to higher headcount and the associated spending on field, lab and facilities, and third-party research costs. The increase was partially offset by a decrease in variable compensation.

2022 versus 2021

R&D expense was $1,216 million (7 percent of net sales) for the year ended December 31, 2022 and $1,187 million (8 percent of net sales) for the year ended December 31, 2021. The increase was primarily driven by an increase in variable compensation and spending on field, lab and facilities supplies used in projects, partially offset by favorable currency.

Selling, General and Administrative Expenses ("SG&A")

	For the Year Ended December 31,
(In millions)	2023		2022		2021
SG&A	$	3,176	$	3,173	$	3,209

2023 versus 2022

SG&A was $3,176 million (18 percent of net sales) for the year ended December 31, 2023 and $3,173 million (18 percent of net sales) for the year ended December 31, 2022. The flat results were primarily driven by incremental costs from the Stoller and Symborg acquisitions, an unfavorable impact relating to deferred compensation plans due to market improvements and an increase in bad debt expense, partially offset by a decrease in selling expense, variable compensation, functional spend, commissions and consulting fees.

2022 versus 2021

SG&A was $3,173 million (18 percent of net sales) for the year ended December 31, 2022 and $3,209 million (20 percent of net sales) for the year ended December 31, 2021. The decrease was primarily driven by favorable currency, lower functional spend and enterprise resource planning ("ERP") costs, and the favorable impact relating to deferred compensation plans due to market declines, partially offset by an increase in commissions expense, selling expense, travel and consulting fees.

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Amortization of Intangibles

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Amortization of Intangibles	$	683	$	702	$	722

2023 versus 2022

Intangible asset amortization was $683 million for the year ended December 31, 2023 and $702 million for the year ended December 31, 2022. The decrease was primarily driven by the expiration of the favorable supply contracts in the fourth quarter of 2022, at which point the contracts became fully amortized, partially offset by amortization relating to the intangible assets recognized in connection with the Stoller and Symborg acquisitions.

2022 versus 2021

Intangible asset amortization was $702 million for the year ended December 31, 2022 and $722 million for the year ended December 31, 2021. The decrease was primarily driven by the expiration of the favorable supply contracts on November 1, 2022, at which point the contracts became fully amortized.

See Note 13 - Goodwill and Other Intangible Assets, to the Consolidated Financial Statements, for additional information.

Restructuring and Asset Related Charges - Net            

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Restructuring and Asset Related Charges - Net	$	336	$	363	$	289

2023

Restructuring and asset related charges - net were $336 million for the year ended December 31, 2023, which was primarily comprised of a $217 million charge related to the Crop Protection Operations Strategy Restructuring Program, a $72 million net charge related to non-cash accelerated prepaid royalty amortization expense related to the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits and $42 million related to severance and related benefit costs, asset related charges and contract termination charges (including early lease terminations) associated with the 2022 Restructuring Actions. The $217 million net charge associated with the Crop Protection Operations Strategy Restructuring Program was primarily comprised of $214 million of asset related charges, which includes non-cash impairment charges of $152 million consisting of $92 million and $60 million related to operating lease assets and property, plant and equipment, respectively, associated with the exit of the company’s production activities at its site in Pittsburg, California.

2022

Restructuring and asset related charges - net were $363 million for the year ended December 31, 2022, which was primarily comprised of a $272 million net charge related to the 2022 Restructuring Actions and $109 million of restructuring and asset related charges - net from non-cash accelerated prepaid royalty amortization expense related to the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits. The $272 million net charge associated with the 2022 Restructuring Actions was comprised of $111 million of severance and related benefit costs, $104 million of asset related charges and $57 million of costs related to contract terminations (including early lease terminations). These charges were partially offset by a benefit associated with previous restructuring programs.

2021

Restructuring and asset related charges - net were $289 million for the year ended December 31, 2021, which was primarily comprised of a $167 million net charge related to the 2021 Restructuring Actions and $125 million of restructuring and asset related charges - net from non-cash accelerated prepaid royalty amortization expense related to the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits. The $167 million net charge associated with the 2021 Restructuring Actions was comprised of $74 million of severance and related benefit costs, $45 million of asset related charges, $6 million of asset retirement obligations and $42 million of costs related to contract terminations (including early lease terminations).

See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements for additional information.

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Other Income (Expense) - Net

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Other Income (Expense) - Net	$	(448)	$	(60)	$	1,348

2023 versus 2022

Other income (expense) - net was $(448) million and $(60) million for the years ended December 31, 2023 and 2022, respectively. Higher other expense was primarily driven by an increase in net exchange losses and estimated settlement reserves and an increase in non-operating pension and other post-employment costs in the current period versus a benefit in the prior period. Higher other expense was partially offset by an increase in interest income and the absence of charges incurred in 2022 relating to certain legal matters and losses associated with a previously held equity investment.

2022 versus 2021

Other income (expense) - net was $(60) million for the year ended December 31, 2022 and $1,348 million for the year ended December 31, 2021. The change was primarily driven by a decrease in non-operating pension and other post-employment benefit credits due to the prior year impact of the December 2020 OPEB plan amendments, an increase in net exchange losses, estimated settlement reserves, the Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”) recognized in 2021 and losses associated with a previously held equity investment. The increases are partially offset by a decrease in loss on sale of receivables, an increase in interest income and the absence of charges related to an officer indemnification payment and a contract termination with a third-party service provider that were recognized in 2021.

See Note 7 - Supplementary Information, to the Consolidated Financial Statements for additional information.

Interest Expense

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Interest Expense	$	233	$	79	$	30

2023 versus 2022

Interest expense was $233 million and $79 million for the years ended December 31, 2023 and 2022, respectively. The change was primarily driven by higher interest rates, the issuance of Senior Notes in connection with the May 2023 Debt Offering, and an increase in short term borrowings.

2022 versus 2021

Interest expense was $79 million and $30 million for the years ended December 31, 2022 and 2021, respectively. The change was primarily driven by higher interest rates on seasonal short-term borrowings and new foreign currency borrowings.

Provision for (Benefit from) Income Taxes on Continuing Operations

	For the Year Ended December 31,
(In millions)	2023			2022			2021
Provision for (Benefit from) Income Taxes on Continuing Operations	$	152		$	210		$	524
Effective Tax Rate	13.9		%	14.7		%	22.3		%

2023
For the year ended December 31, 2023, the company’s effective tax rate of 13.9 percent on pre-tax income from continuing operations of $1,093 million was favorably impacted by a $(65) million benefit related to U.S. tax credits for increasing research activities, changes to deferred taxes and a tax currency change for legal entities within Switzerland in the amount of $(62) million and $(24) million, respectively, as well as favorable geographic mix of earnings. These items were partially offset by the unfavorable tax impact of certain net exchange losses recognized on the re-measurement of the net monetary asset positions, which were not deductible in their local jurisdictions, a $46 million charge associated with intellectual property realignment, and a $32 million charge associated with repatriation of cash held outside of the U.S. primarily from current year earnings.

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2022

For the year ended December 31, 2022, the company’s effective tax rate of 14.7 percent on pre-tax income from continuing operations of $1,426 million was favorably impacted by tax benefits relating to the establishment of deferred taxes in connection with the impact of a change in a U.S. legal entity's tax characterization, a worthless stock deduction in the U.S., and the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil in the amount of $(55) million, $(42) million and $(36) million, respectively. These items were partially offset by the unfavorable tax impact of certain net exchange losses recognized on the re-measurement of the net monetary asset positions which were not deductible in their local jurisdictions, and a $24 million charge associated with repatriation of cash held outside of the U.S. primarily from current year earnings.

2021

For the year ended December 31, 2021, the company’s effective tax rate of 22.3 percent on pre-tax income from continuing operations of $2,346 million was unfavorably impacted by the tax impact of certain net exchange losses recognized on the re-measurement of the net monetary asset positions which were not deductible in their local jurisdictions, the tax impact of income from pension and other post-employment benefits, and a $23 million charge associated with repatriation of cash held outside of the U.S. These items were partially offset by the impacts of favorable geographic mix of earnings and a $(57) million benefit related to U.S. tax credits for increasing research activities.

Income (loss) from Discontinued Operations After Income Taxes

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from Discontinued Operations After Income Taxes	$	(194)	$	(58)	$	(53)

2023

Income (loss) from discontinued operations after income taxes was $(194) million for the year ended December 31, 2023, which was primarily comprised of charges associated with the settlement of certain PFAS related legal matters that are subject to the MOU with Chemours and DuPont, including the Nationwide Water District Settlement and the State of Ohio for natural resources damage claims, and charges associated with PFAS environmental remediation activities primarily at Chemours' Fayetteville Works facility.

2022

Income (loss) from discontinued operations after income taxes was $(58) million for the year ended December 31, 2022, which was primarily comprised of charges pursuant to the MOU with Chemours and DuPont, relating to PFAS environmental remediation activities primarily at Chemours' Fayetteville Works facility and adjustments of certain prior year tax positions for previously divested businesses.

2021

Income (loss) from discontinued operations after income taxes was $(53) million for the year ended December 31, 2021, which was primarily comprised of charges relating to PFAS environmental remediation activities at the Chemours Fayetteville Works facility and the settlement with the State of Delaware for PFAS related natural resource damage claims.

See Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for further discussion.

EIDP Analysis of Operations

As discussed in Note 1 - Basis of Presentation, to the EIDP Consolidated Financial Statements, EIDP is a subsidiary of Corteva, Inc. and continues to be a reporting company, subject to the requirements of the Exchange Act. The below relates to EIDP only and is presented to provide an Analysis of Operations, only for the differences between EIDP and Corteva, Inc.

Interest Expense

2023 versus 2022

EIDP’s interest expense was $253 million and $124 million for the years ended December 31, 2023 and 2022, respectively. The change was primarily driven by the items noted on page 37, under the header “Interest Expense – 2023 versus 2022,” and lower average borrowings on the related party loan between EIDP and Corteva, Inc. See Note 2 - Related Party Transactions, to the EIDP Consolidated Financial Statements for further information.

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2022 versus 2021

EIDP’s interest expense was $124 million and $80 million for the years ended December 31, 2022 and 2021, respectively. The change was primarily driven by the items noted on page 37, under the header “Interest Expense – 2022 versus 2021,” partially offset by lower interest expense incurred on the related party loan between EIDP and Corteva, Inc. See Note 2 - Related Party Transactions, to the EIDP Consolidated Financial Statements for further information.

Provision for (Benefit from) Income Taxes on Continuing Operations

2023

For the year ended December 31, 2023, EIDP had an effective tax rate of 13.7 percent on pre-tax income from continuing operations of $1,073 million, driven by the items noted on page 37, under the header “Provision for (Benefit from) Income Taxes on Continuing Operations - 2023 and a tax benefit related to the interest expense incurred on the related party loan between EIDP and Corteva, Inc. See Note 3 - Income Taxes, to the EIDP Consolidated Financial Statements for further information.

2022

For the year ended December 31, 2022, EIDP had an effective tax rate of 14.4 percent on pre-tax income from continuing operations of $1,381 million, driven by the items noted on page 38, under the header “Provision for (Benefit from) Income Taxes on Continuing Operations - 2022 and a tax benefit related to the interest expense incurred on the related party loan between EIDP and Corteva, Inc. See Note 3 - Income Taxes, to the EIDP Consolidated Financial Statements for further information.

2021

For the year ended December 31, 2021, EIDP had an effective tax rate of 22.2 percent on pre-tax income from continuing operations of $2,296 million, driven by the items noted on page 38, under the header “Provision for (Benefit from) Income Taxes on Continuing Operations - 2021” and a tax benefit related to the interest expense incurred on the related party loan between EIDP and Corteva, Inc. See Note 3 - Income Taxes, to the EIDP Consolidated Financial Statements for further information.

Corporate Outlook - 2024

The global outlook for agriculture remains constructive overall in 2024. There was record-setting demand for grain, oilseeds and biofuels in 2023 and we expect that to continue to grow in 2024. On-farm demand remains steady and overall strong. The Crop Protection industry is working to rebalance after the significant destocking in 2023, however we expect the industry to modestly improve as the imbalance between product going into the channel and on-farm consumption returns to alignment.

The company expects net sales to be in the range of $17.4 billion and $17.7 billion. Operating EBITDA is expected to be in the range of $3.5 billion and $3.7 billion. Operating Earnings Per Share is expected to be in the range of $2.70 and $2.90 per share, which reflects higher earnings, partially offset by interest expense and a higher base tax rate. Cash provided by operating activities - continuing operations is expected to be in the range of $2.1 billion and $2.6 billion. Free cash flow is expected to be in the range of $1.5 billion and $2.0 billion. Refer to further discussion of Non-GAAP metrics on pages 44 - 46.

The above outlook does not contemplate any extreme weather events, operational disruptions, significant changes in customers' demand or ability to pay or further acceleration of currency and inflation impacts resulting from macro-economic driven trends. Corteva is not able to reconcile its forward-looking non-GAAP financial measures, except Free Cash Flow, to its most comparable U.S. GAAP financial measures, as it is unable to predict with reasonable certainty items outside of the company’s control, such as Significant Items, without unreasonable effort (refer to page 45 for Significant Items recorded in the years ended December 31, 2022, 2021 and 2020). However, during 2023, the company committed to restructuring activities to optimize the Crop Protection network of manufacturing and external partners, which are expected to be substantially complete in 2024. The company expects to record approximately $180 million to $230 million net pre-tax restructuring charges during 2024 for these activities. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information. Additionally, beginning January 1, 2020, the company recognizes non-cash accelerated prepaid royalty amortization expense as a restructuring and asset related charge. For further discussion of accelerated prepaid royalty amortization refer to the Company's Critical Accounting Estimates for Prepaid Royalties on page 55.

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Reconciliation of Forward-Looking Cash Provided by (Used for) Operating Activities – Continuing Operations to Free Cash Flow1

	Year Ended December 31, 20241
(In millions)	Low End		High End
Cash provided by (used for ) operating activities - continuing operations	$	2,130	$	2,630
Less: Capital expenditures	(630)		(630)
Free Cash Flow (Non-GAAP)	$	1,500	$	2,000

1.This represents the reconciliation of the company’s range provided for its forward-looking non-GAAP financial measure relating to Free Cash Flow. Refer to further discussion of Non-GAAP metrics on pages 44 - 46.

Recent Accounting Pronouncements

See Note 3 - Recent Accounting Guidance, to the Consolidated Financial Statements for a description of recent accounting pronouncements.

Segment Reviews

The company operates in two reportable segments: seed and crop protection. The company’s seed segment is a global leader in developing and supplying advanced germplasm and traits that produce optimum yield for farms around the world. The segment offers trait technologies that improve resistance to weather, disease, insects and enhance food and nutritional characteristics, herbicides used to control weeds, and digital solutions that assist farmer decision-making with a view to optimize product selection and, ultimately, help maximize yield and profitability. The segment competes in a wide variety of agricultural markets. The crop protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. The segment offers crop protection solutions and digital solutions that provide farmers the tools they need to improve productivity and profitability, and help keep fields free of weeds, insects and diseases. The segment is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals.

Summarized below are comments on individual segment net sales and segment operating EBITDA for the years ended December 31, 2023, 2022 and 2021. The company defines segment operating EBITDA as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, corporate expenses, non-operating benefits (costs), foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items. Non-operating benefits (costs) consists of non-operating pension and OPEB credits (costs), tax indemnification adjustments, environmental remediation and legal costs associated with legacy EIDP businesses and sites, and the 2021 officer indemnification payment. Tax indemnification adjustments relate to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the company as pre-tax income or expense. See Note 23 - Segment Information, to the Consolidated Financial Statements for details related to significant pre-tax benefits (costs) excluded from segment operating EBITDA. All references to prices are based on local price unless otherwise specified.

A reconciliation of segment operating EBITDA to income (loss) from continuing operations after income taxes for the years ended December 31, 2023, 2022 and 2021 is included in Note 23 - Segment Information, to the Consolidated Financial Statements.

Seed	For the Year Ended December 31,
In millions	2023		2022		2021
Net sales	$	9,472	$	8,979	$	8,402
Segment operating EBITDA	$	2,117	$	1,656	$	1,512

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Seed	2023 vs. 2022				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
In millions	$		%		Product Mix		Volume		Currency		Other
North America	$	590	11	%	9	%	3	%	(1)	%	—	%
EMEA	13		1	%	26	%	(19)	%	(10)	%	4	%
Latin America	(121)		(7)	%	11	%	(22)	%	4	%	—	%
Asia Pacific	11		3	%	14	%	(4)	%	(7)	%	—	%
Total	$	493	5	%	13	%	(6)	%	(2)	%	—	%

Seed	2023 vs. 2022				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
In millions	$		%		Product Mix		Volume		Currency		Other
Corn	$	492	8	%	14	%	(4)	%	(2)	%	—	%
Soybeans	48		3	%	7	%	(4)	%	—	%	—	%
Other oilseeds	(6)		(1)	%	23	%	(21)	%	(7)	%	4	%
Other	(41)		(8)	%	7	%	(15)	%	—	%	—	%
Total	$	493	5	%	13	%	(6)	%	(2)	%	—	%

Seed	2022 vs. 2021				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
In millions	$		%		Product Mix		Volume		Currency		Other
North America	$	174	3	%	6	%	(2)	%	(1)	%	—	%
EMEA	10		1	%	11	%	2	%	(13)	%	1	%
Latin America	338		24	%	18	%	4	%	2	%	—	%
Asia Pacific	55		15	%	12	%	11	%	(8)	%	—	%
Total	$	577	7	%	9	%	—	%	(2)	%	—	%

Seed	2022 vs. 2021				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
In millions	$		%		Product Mix		Volume		Currency		Other
Corn	$	337	6	%	9	%	(1)	%	(2)	%	—	%
Soybeans	242		15	%	11	%	5	%	(1)	%	—	%
Other oilseeds	(38)		(5)	%	8	%	(4)	%	(9)	%	—	%
Other	36		8	%	4	%	7	%	(3)	%	—	%
Total	$	577	7	%	9	%	—	%	(2)	%	—	%

Seed

Seed net sales were $9,472 million in 2023, up 5 percent from $8,979 million in 2022. The sales increase was driven by a 13 percent increase in price, partially offset by a 6 percent decline in volume and a 2 percent unfavorable currency impact.

The increase in price was broad-based and driven by strong demand for top technology and operational execution globally, with global corn and soybean prices up 14 percent and 7 percent, respectively. Pricing actions more than offset currency impacts in EMEA. The decline in volume was driven by the 2022 decision to exit Russia, lower corn planted area in EMEA, reduced summer corn planted area and lower expected Safrinha corn planted area in Brazil, partially offset by increased corn acres in North America. Unfavorable currency impacts were led by the Turkish Lira and the Canadian Dollar.

Seed operating EBITDA was $2,117 million in 2023, up 28 percent from $1,656 million in 2022. Price execution, reduction of net royalty expense, and ongoing cost and productivity actions more than offset higher commodity and input costs, lower volumes, and the unfavorable impact of currency. Segment operating EBITDA margin improved by approximately 390 basis points versus the prior-year period.

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Seed net sales were $8,979 million in 2022, up 7 percent from $8,402 million in 2021. The increase was driven by a 9 percent increase in price, partially offset by a 2 percent unfavorable currency impact.

The increase in price was driven by strong execution globally, led by North America and Latin America, with global corn and soybean prices up 9 percent and 11 percent, respectively. Volume gains in Latin America corn and North America soybeans were offset by reduced corn acres in North America and supply constraints in North America canola. Enlist E3TM soybean market penetration reached over 45 percent of total North American acres. Unfavorable currency impacts were led by the Turkish Lira and the Euro, partially offset by the Brazilian Real.

Seed operating EBITDA was $1,656 million in 2022, up 10 percent from $1,512 million in 2021. Price execution and ongoing cost and productivity actions more than offset higher input and freight costs, the unfavorable impact of currency, lower volumes in North America, and increased investment in R&D. Segment operating EBITDA margin improved by approximately 45 basis points versus the prior-year period.

Crop Protection	For the Year Ended December 31,
In millions	2023		2022		2021
Net sales	$	7,754	$	8,476	$	7,253
Segment operating EBITDA	$	1,374	$	1,684	$	1,202

Crop Protection	2023 vs. 2022				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
In millions	$		%		Product Mix		Volume		Currency		Other
North America	$	(294)	(9)	%	—	%	(10)	%	—	%	1	%
EMEA	98		6	%	12	%	(4)	%	(4)	%	2	%
Latin America	(418)		(16)	%	(4)	%	(26)	%	2	%	12	%
Asia Pacific	(108)		(11)	%	4	%	(10)	%	(5)	%	—	%
Total	$	(722)	(9)	%	2	%	(14)	%	(1)	%	4	%

Crop Protection	2023 vs. 2022				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
In millions	$		%		Product Mix		Volume		Currency		Other
Herbicides	$	(557)	(12)	%	1	%	(12)	%	(1)	%	—	%
Insecticides	(233)		(13)	%	2	%	(12)	%	(1)	%	(2)	%
Fungicides	(338)		(23)	%	3	%	(25)	%	(1)	%	—	%
Other	406		67	%	1	%	(5)	%	1	%	70	%
Total	$	(722)	(9)	%	2	%	(14)	%	(1)	%	4	%

Crop Protection	2022 vs. 2021				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
In millions	$		%		Product Mix		Volume		Currency		Other
North America	$	584	23	%	14	%	10	%	(1)	%	—	%
EMEA	123		8	%	7	%	15	%	(14)	%	—	%
Latin America	562		26	%	14	%	10	%	2	%	—	%
Asia Pacific	(46)		(4)	%	5	%	(1)	%	(5)	%	(3)	%
Total	$	1,223	17	%	11	%	9	%	(3)	%	—	%

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Crop Protection	2022 vs. 2021				Percent Change Due To:
	Net Sales Change				Price &						Portfolio /
In millions	$		%		Product Mix		Volume		Currency		Other
Herbicides	$	776	20	%	15	%	8	%	(3)	%	—	%
Insecticides	101		6	%	7	%	3	%	(4)	%	—	%
Fungicides	140		11	%	6	%	10	%	(3)	%	(2)	%
Other	206		52	%	7	%	47	%	(2)	%	—	%
Total	$	1,223	17	%	11	%	9	%	(3)	%	—	%

Crop Protection

Crop protection net sales were $7,754 million in 2023, down 9 percent from $8,476 million in 2022. The decrease was driven by a 14 percent decrease in volume and a 1 percent unfavorable impact from currency, partially offset by a 4 percent favorable impact from portfolio and a 2 percent increase in price.

The decrease in volume was driven by strategic product exits, channel inventory destocking, and delayed farmer purchases. The increase in price was led by EMEA, and mostly reflected pricing for the value of our differentiated technology, including new products, and currency in EMEA, partially offset by challenging market dynamics in Latin America and North America. Unfavorable currency impacts were led by the Turkish Lira and Chinese Renminbi. The portfolio impact was driven by the Biologicals acquisitions, which added approximately $420 million of net sales.

Segment Operating EBITDA was $1,374 million in 2023, down 18 percent from $1,684 million from 2022. Pricing execution, productivity actions, and the favorable impact from the Biologicals acquisitions were more than offset by lower volumes, higher input costs, and the unfavorable impact of currency. Segment operating EBITDA margin declined by 215 basis points versus the prior-year period.

Crop protection net sales were $8,476 million in 2022, up 17 percent from $7,253 million in 2021. The increase was driven by an 11 percent increase in price and a 9 percent increase in volumes. These gains were partially offset by a 3 percent unfavorable currency impact.

The increase in price, led by North America and Latin America, reflected pricing for higher raw material and logistical costs and the value of our differentiated technology. The increase in volume was driven by continued penetration of new products, including EnlistTM and ArylexTM herbicides and IsoclastTM insecticide, with new product sales up 33 percent compared to the same period last year. Unfavorable currency impacts were led by the Euro and the Turkish Lira, partially offset by the Brazilian Real.

Segment Operating EBITDA was $1,684 million in 2022, up 40 percent from $1,202 million from 2021. Pricing and volume gains and productivity actions more than offset higher input costs, including raw material costs, and the unfavorable impact of currency. Segment operating EBITDA margin improved by approximately 330 basis points versus the prior-year period largely driven by pricing execution and new and differentiated technology.

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ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, continued

Non-GAAP Financial Measures

The company presents certain financial measures that do not conform to U.S. GAAP and are considered non-GAAP measures. These measures include Operating EBITDA and operating earnings (loss) per share. Management uses these measures internally for planning and forecasting, including allocating resources and evaluating incentive compensation. Management believes that these non-GAAP measures best reflect the ongoing performance of the company during the periods presented and provide more relevant and meaningful information to investors as they provide insight with respect to ongoing operating results of the company and a more useful comparison of year-over-year results. These non-GAAP measures supplement the company's U.S. GAAP disclosures and should not be viewed as an alternative to U.S. GAAP measures of performance. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies. Reconciliations for these non-GAAP measures to U.S. GAAP are provided below.

Operating EBITDA is defined as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, non-operating benefits (costs), foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items. Non-operating benefits (costs) consists of non-operating pension and OPEB credits (costs), tax indemnification adjustments, environmental remediation and legal costs associated with legacy businesses and sites, and the 2021 officer indemnification payment. Tax indemnification adjustments relate to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the company as pre-tax income or expense. Operating earnings (loss) per share is defined as "earnings (loss) per common share from continuing operations - diluted" excluding the after-tax impact of significant items, the after-tax impact of non-operating benefits (costs), the after-tax impact of amortization expense associated with intangible assets existing as of the Separation from DowDuPont, and the after-tax impact of net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting. Although amortization of the company's intangible assets is excluded from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in amortization of additional intangible assets. Net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting represents the non-cash net gain (loss) from changes in fair value of certain undesignated foreign currency derivative contracts. Upon settlement, which is within the same calendar year of execution of the contract, the realized gain (loss) from the changes in fair value of the non-qualified foreign currency derivative contracts will be reported in the relevant non-GAAP financial measures, allowing quarterly results to reflect the economic effects of the foreign currency derivative contracts without the resulting unrealized mark to fair value volatility.

The company also uses Free Cash Flow as a non-GAAP measure to evaluate and discuss its liquidity position and ability to generate cash. Free Cash Flow is defined as cash provided by (used for) operating activities – continuing operations, less capital expenditures. Management believes that Free Cash Flow provides investors with meaningful information regarding the company’s ongoing ability to generate cash through core operations, and the company’s ability to service its indebtedness, pay dividends (when declared), make share repurchases, and meet its ongoing cash needs for its operations. The company made the decision, which was retrospectively applied, to adjust the presentation of the Consolidated Statement of Cash Flows to separately show the cash provided by (used for) operating activities – discontinued operations, which was previously presented within cash provided by (used for) operating activities. See Note 1 – Background and Basis of Presentation, to the Consolidated Financial Statements, for additional information. As a result, the definition for Free Cash Flow was revised to utilize cash provided by (used for) operating activities – continuing operations. The change in definition did not have a material impact to prior years’ Free Cash Flow. Management made this decision to better present the liquidity generated from the company’s ongoing business operations. Under the revised definition, Free Cash Flow was $307 million and $2,196 million for the years ended December 31, 2022 and 2021, respectively.

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Reconciliation of Income (Loss) from Continuing Operations after Income Taxes to Operating EBITDA

	Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	941	$	1,216	$	1,822
Provision for (benefit from) income taxes on continuing operations	152		210		524
Income (loss) from continuing operations before income taxes	1,093		1,426		2,346
Depreciation and amortization	1,211		1,223		1,243
Interest income	(283)		(124)		(77)
Interest expense	233		79		30
Exchange (gains) losses	397		229		54
Non-operating (benefits) costs 1	151		(111)		(1,256)
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges	—		—		—
Significant items (benefit) charge	579		502		236
Operating EBITDA (Non-GAAP)	$	3,381	$	3,224	$	2,576

1.    The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

Significant Items

	Year Ended December 31,
(In millions)	2023		2022		2021
Restructuring and asset related charges - net	$	336	$	363	$	289
Estimated settlement expense 1	204		87		—
Inventory write-offs 2	7		33		—
Spare parts write-off 3	12		—		—
(Gain) loss on sale of business, assets and equity investments 2	(14)		(10)		—
Settlement costs associated with the Russia Exit 2	—		8		—
Seed sale associated with Russia Exit 2,4	(18)		(3)		—
Acquisition-related costs 5	45		—		—
Employee Retention Credit	(3)		(9)		(60)
Equity securities mark-to-market gain	—		—		(47)
Contract termination	—		—		54
AltEn facility remediation charges	10		33		—
Total pretax significant items (benefit) charge	579		502		236
Total tax (benefit) charge impact of significant items 6	(131)		(102)		(51)
Tax only significant item (benefit) charge 7	(45)		(133)		(9)
Total significant items (benefit) charge, net of tax	$	403	$	267	$	176

1.Consists of estimated Lorsban® related charges.

2.Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions.

3.Incremental loss associated with activities related to the Crop Protection Operations Strategy Restructuring Program.

4.Includes a benefit of $18 million and $3 million for the years ended December 31, 2023 and 2022, respectively, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the company was contractually required to purchase. It consists of $71 million and $8 million of net sales and $53 million and $5 million of cost of goods sold for the years ended December 31, 2023 and 2022, respectively.

5.Relates to acquisition-related costs, including transaction and third-party integration costs associated with the completed acquisitions of Stoller and Symborg as well as the recognition of the inventory fair value step-up. See Note 4 - Business Combinations, to the Consolidated Financials Statements, for additional information.

6.Unless specifically addressed above, the income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment.

7.The tax only significant item benefit for the year ended December 31, 2023 relates to the impact of changes to deferred taxes and a tax currency change for legal entities within Switzerland of $(62) million and $(24) million, respectively, as well as adjustments due to intellectual property realignment of $46 million and a change in estimate related to a worthless stock deduction in the U.S. The tax only significant item benefit for the year ended December 31, 2022 relates to the impact of a change in a U.S. legal entity's tax characterization, resulting in the establishment of deferred taxes, the release of a valuation

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allowance recorded against the net deferred tax asset position of a legal entity in Brazil and a worthless stock deduction in the U.S. of $(55) million, $(36) million, and $(42) million, respectively. The tax only significant item benefit for the year ended December 31, 2021 reflects a net benefit for the impact of changes in valuation allowances recorded against the net deferred tax asset positions of two legal entities in Brazil of $(57) million and $44 million, as well as an adjustment related to the impacts of Swiss Tax Reform of $4 million.

Reconciliation of Income (Loss) from Continuing Operations Attributable to Corteva and Earnings (Loss) Per Share of Common Stock from Continuing Operations - Diluted to Operating Earnings (Loss) and Operating Earnings (Loss) Per Share

	Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations attributable to Corteva common stockholders	$	929	$	1,205	$	1,812
Less: Non-operating benefits (costs), after tax	(111)		80		955
Less: Amortization of intangibles (existing as of Separation), after tax	(471)		(542)		(562)
Less: Mark-to-market gains (losses) on certain foreign currency contracts not designated as hedges, after tax	—		—		—
Less: Significant items benefit (charge), after tax	(403)		(267)		(176)
Operating Earnings (Loss) (Non-GAAP)	$	1,914	$	1,934	$	1,595

	Year Ended December 31,
	2023		2022		2021
Earnings (loss) per share of common stock from continuing operations attributable to Corteva common stockholders - diluted	$	1.30	$	1.66	$	2.44
Less: Non-operating benefits (costs), after tax	(0.16)		0.11		1.29
Less: Amortization of intangibles (existing as of Separation), after tax	(0.66)		(0.75)		(0.76)
Less: Mark-to-market gains (losses) on certain foreign currency contracts not designated as hedges, after tax	—		—		—
Less: Significant items benefit (charge), after tax	(0.57)		(0.37)		(0.24)
Operating Earnings (Loss) Per Share (Non-GAAP)	$	2.69	$	2.67	$	2.15
Diluted Shares Outstanding (in millions)	711.9		724.5		741.6

Reconciliation of Cash Provided by (Used for) Operating Activities – Continuing Operations to Free Cash Flow

(In millions)	Year Ended December 31,
	2023		2022		2021
Cash provided by (used for) operating activities - continuing operations	$	1,809	$	912	$	2,769
Less: Capital expenditures	(595)		(605)		(573)
Free Cash Flow (Non-GAAP)	$	1,214	$	307	$	2,196

Liquidity & Capital Resources

The company continually reviews its sources of liquidity and debt portfolio and occasionally may make adjustments to one or both to ensure adequate liquidity.

(Dollars in millions)	December 31, 2023		December 31, 2022
Cash, cash equivalents and marketable securities	$	2,742	$	3,315
Total debt	$	2,489	$	1,307

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ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, continued

The company's credit ratings impact its access to the debt capital markets and cost of capital. The company remains committed to a strong financial position and strong investment-grade rating. The company's long-term and short-term credit ratings assigned to EIDP are as follows:

	Long-term	Short-term	Outlook
Standard & Poor's1	A-	A-2	Stable
Moody’s Investors Service	A3	P-2	Stable
Fitch Ratings1	A	F1	Stable

1.In addition, Corteva, Inc. has been assigned a long-term issuer credit rating of A- with Stable outlook by Standard & Poor's and an Issuer Default Rating of A with Stable outlook by Fitch Ratings.

The company believes its ability to generate cash from operations and access to capital markets and commercial paper markets will be adequate to meet anticipated cash requirements to fund its operations, including seasonal working capital, capital spending, dividend payments, share repurchases and pension obligations. Corteva's strong financial position, liquidity and credit ratings will provide access as needed to capital markets and commercial paper markets to fund seasonal working capital needs. The company's liquidity needs can be met through a variety of sources, including cash provided by operating activities, commercial paper, syndicated credit lines, bilateral credit lines, long-term debt markets, bank financing and committed receivable repurchase facilities. Corteva considers the borrowing costs and lending terms when selecting the source to fund its operations and working capital needs.

The company had access to approximately $6.0 billion at December 31, 2023 and 2022 in committed and uncommitted unused credit lines, which includes the uncommitted revolving credit lines relating to the Foreign Currency Loans. These facilities provide support to meet the company’s short-term liquidity needs and for general corporate purposes, which may include funding of discretionary and non-discretionary contributions to certain benefit plans, severance payments, repayment and refinancing of debt, working capital, capital expenditures, repurchases and redemptions of securities, funding of acquisitions and funding Corteva's costs and expenses. These facilities are provided to the company by highly rated and well capitalized global financial institutions.

In May 2023, the company issued $600 million of 4.50 percent Senior Notes due in 2026 and $600 million of 4.80 percent Senior Notes due in 2033 (the “May 2023 Debt Offering”).

In January 2023, the company amended and restated its May 2022 364-day revolving credit agreement (the “364-Day Revolving Credit Facility”) increasing the facility amount to $1 billion and extending the expiration date to January 2024. Borrowings under the 364-Day Revolving Credit Facility have an interest rate equal to Adjusted Term SOFR, which is Term SOFR plus 0.10 percent, plus the applicable margin. The 364-Day Revolving Credit Facility includes a provision under which the company may convert any advances outstanding prior to the maturity date into term loans having a maturity date up to one year later. In February 2023, the company drew down $1 billion under the 364-Day Revolving Credit Facility, which was used for general corporate purposes, including funding seasonal working capital needs, capital spending, dividend payments, share repurchases and to partially fund the Stoller and Symborg acquisitions. In May 2023, the company repaid the $1 billion loan using the proceeds from the May 2023 Debt Offering and subsequently, in July 2023, reduced the available credit from $1 billion to $500 million. In January 2024, the company amended and restated the 364-Day Revolving Credit Facility to extend the expiration date to February 26, 2024. The 364-Day Revolving Credit Facility contains customary representations and warranties, affirmative and negative covenants and events of default that are typical for companies with similar credit ratings. Additionally, the 364-Day Revolving Credit Facility contains a financial covenant requiring that the ratio of total indebtedness to total capitalization for Corteva and its consolidated subsidiaries not exceed 0.60. At December 31, 2023, the company was in compliance with these covenants.

In May 2022, EIDP entered into a $3 billion, 5 year revolving credit facility and a $2 billion, 3-year revolving credit facility (the "Revolving Credit Facilities”) expiring in May 2027 and May 2025, respectively. Borrowings under the revolving credit facilities have an interest rate equal to Adjusted Term SOFR, which is Term SOFR plus 0.10 percent, plus the applicable margin. The Revolving Credit Facilities may serve as a substitute to the company's commercial paper program, and can be used from time to time, for general corporate purposes including, but not limited to, the funding of seasonal working capital needs. The Revolving Credit Facilities contain customary representations and warranties, affirmative and negative covenants and events of default that are typical for companies with similar credit ratings. Additionally, the Revolving Credit Facilities contain

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a financial covenant requiring that the ratio of total indebtedness to total capitalization for Corteva and its consolidated subsidiaries not exceed 0.60. At December 31, 2023, the company was in compliance with these covenants.

In May 2020, EIDP issued $500 million of 1.70 percent Senior Notes due 2025 and $500 million of 2.30 percent Senior Notes due 2030 (the May 2020 Debt Offering). The proceeds of this offering were used for general corporate purposes.

The company enters into short-term and long-term foreign currency loans from time-to-time by accessing uncommitted revolving credit lines to fund working capital needs of foreign subsidiaries in the normal course of business (“Foreign Currency Loans”). Interest rates are variable and determined at the time of borrowing. Total unused bank credit lines on the Foreign Currency Loans at December 31, 2023 was approximately $50 million. The company’s long-term Foreign Currency Loans have varying maturities throughout 2024.

The company's indenture covenants include customary limitations on liens, sale and leaseback transactions, and mergers and consolidations affecting manufacturing plants, mineral producing properties or research facilities located in the U.S. and the consolidated subsidiaries owning such plants, properties and facilities subject to certain limitations. The outstanding long-term debt also contains customary default provisions.

In September 2023 and in accordance with the Nationwide Water District Settlement, Chemours, DuPont and Corteva established a settlement fund (the “Water District Settlement Fund”) and collectively contributed $1.185 billion, with Chemours contributing 50 percent, and DuPont and Corteva collectively contributing the remaining 50 percent pursuant to the terms of the Letter Agreement. The settling companies utilized the balance in the MOU Escrow Account, along with amounts previously expected to be contributed to the MOU Escrow Account in 2023, among other sources, to make their respective contributions to the Water District Settlement Fund. Refer to Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information.

The company has meaningful seasonal working capital needs based in part on providing financing to its customers. Working capital is funded through multiple methods including cash, commercial paper, a receivable repurchase facility, the Revolving Credit Facilities, the 364-day Revolving Credit Facility, and factoring.

In May 2023, in line with seasonal working capital requirements, the company entered into a committed receivable repurchase facility of up to $500 million (the "2023 Repurchase Facility") which expired in December 2023. Under the 2023 Repurchase Facility, Corteva sold a portfolio of available and eligible outstanding customer notes receivables to participating institutions and simultaneously agreed to repurchase at a future date.

The company has factoring agreements with third-party financial institutions to sell its trade receivables under both recourse and non-recourse agreements in exchange for cash proceeds in an effort to reduce its receivables risk. For arrangements that include an element of recourse, the company provides a guarantee of the trade receivables in the event of customer default. Refer to Note 10 - Accounts and Notes Receivable - Net, to the Consolidated Financial Statements for more information.

The company also organizes agreements with third-party financial institutions who directly provide financing for select customers of its seed and crop protection products in each region. Terms of the third-party loans are less than a year and programs are renewed on an annual basis. In some cases, the company guarantees a portion of the extension of such credit to such customers. Refer to Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for more information on the company’s guarantees.

The company's cash, cash equivalents and marketable securities at December 31, 2023 and 2022 are $2.7 billion and $3.3 billion, respectively, of which $2.2 billion and $2.0 billion, respectively, was held by subsidiaries in foreign countries, including United States territories. Cash, cash equivalents and marketable securities are concentrated subject to local restrictions with highly rated and well capitalized global financial institutions. The underlying credit worthiness and exposures to these counterparties are monitored on a regular basis in line with the company’s overall risk management procedures. Upon actual repatriation, such earnings could be subject to withholding taxes, foreign and/or U.S. state income taxes, and taxes resulting from the impact of foreign currency movements. The cash held by foreign subsidiaries is generally used to finance the subsidiaries' operational activities and future foreign investments. At December 31, 2023, management believed that sufficient liquidity is available in the U.S. with global operating cash flows, borrowing capacity from existing committed credit facilities, and access to capital markets and commercial paper markets

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Summary of Cash Flows

	For the Year Ended December 31,
(Dollars in millions)	2023		2022		2021
Cash provided by (used for) operating activities – continuing operations	$	1,809	$	912	$	2,769

Cash provided by (used for) operating activities – continuing operations for the year ended December 31, 2023 was $1,809 million compared to $912 million for the year ended December 31, 2022. The change was primarily driven by favorable changes in receivables due to lower crop protection sales and higher collections as well as favorable changes in inventories due to higher seed sales and lower crop protection purchases. Partially offsetting these sources of cash were lower accounts payable driven by higher payments to third-party growers and higher seed production costs and the timing of payments to lenders for providing financing to select customers.

Cash provided by (used for) operating activities – continuing operations for the year ended December 31, 2022 was $912 million compared to $2,769 million for the year ended December 31, 2021. The change was primarily driven by higher earnings offset by changes in working capital primarily driven by an increase in inventories reflecting a rebuild of safety stocks to support growth, higher input and commodity costs as well as the impact from market volatility, higher receivables from revenue growth and changes in deferred revenue due to lower increases in prepayments from customers.

	For the Year Ended December 31,
(Dollars in millions)	2023		2022		2021
Cash provided by (used for) operating activities – discontinued operations	$	(40)	$	(40)	$	(42)

Cash provided by (used for) operating activities – discontinued operations for the years ended December 31, 2023 and 2022 was $(40) million. The cash outflows were primarily related to PFAS activities that are subject to the MOU with Chemours and DuPont associated with environmental remediation activities primarily at Chemours’ Fayetteville Works facility and certain legal matters, which were paid in 2023.

Cash provided by (used for) operating activities – discontinued operations for the year ended December 31, 2022 was $(40) million compared to $(42) million for the year ended December 31, 2021. The change was primarily related to PFAS activities that are subject to the MOU with Chemours and DuPont associated with environmental remediation activities primarily at Chemours’ Fayetteville Works facility and certain legal matters, which were paid in 2022.

	For the Year Ended December 31,
(Dollars in millions)	2023		2022		2021
Cash provided by (used for) investing activities	$	(1,987)	$	(632)	$	(362)

Cash provided by (used for) investing activities was $(1,987) million for the year ended December 31, 2023 compared to $(632) million for the year ended December 31, 2022. The change was primarily due to the acquisitions of Stoller and Symborg and lower proceeds from sales and maturities of investments, partially offset by lower purchases of investments and the proceeds from the settlement of the net investment hedge.

Cash provided by (used for) investing activities was $(632) million for the year ended December 31, 2022 compared to $(362) million for the year ended December 31, 2021. The change was primarily due to higher purchases of investments, lower proceeds from sales and maturities of investments, escrow funding associated with acquisitions and higher capital expenditures.

Capital expenditures totaled $595 million, $605 million, and $573 million for the years ended December 31, 2023, 2022 and 2021, respectively. The company expects 2024 capital expenditures to be approximately $630 million.

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	For the Year Ended December 31,
(Dollars in millions)	2023		2022		2021
Cash provided by (used for) financing activities	$	(99)	$	(1,180)	$	(1,266)

Cash provided by (used for) financing activities was $(99) million for the year ended December 31, 2023 compared to $(1,180) million for the year ended December 31, 2022. The change was primarily due to the May 2023 Debt Offering and higher borrowings to fund working capital needs, capital spending, dividend payments, share repurchases and to partially fund the Stoller and Symborg acquisitions. The change was also driven by lower share repurchases.

Cash provided by (used for) financing activities was $(1,180) million for the year ended December 31, 2022 compared to $(1,266) million for the year ended December 31, 2021. The change was primarily due to higher borrowings partially offset by higher repurchases of common stock, lower proceeds from stock options and higher dividends paid to stockholders.

During 2023, the company's Board of Directors authorized and paid quarterly dividends on its common stock of $0.15 in the first and second quarters and $0.16 in third and fourth quarters, respectively.

On September 13, 2022, Corteva, Inc. announced that its Board of Directors authorized a $2 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2022 Share Buyback Plan"). The timing, price and volume of purchases in connection with the 2022 Share Buyback Plan will be based on market conditions, relevant securities laws and other factors. In connection with the 2022 Share Buyback Plan, the company repurchased and retired 10,026,000 shares in the open market for a cost (excluding excise taxes) of $500 million during the year ended December 31, 2023.

On August 5, 2021, the company's Board of Directors authorized a $1.5 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date (“2021 Share Buyback Plan”). The company completed the 2021 Share Buyback Plan during the first quarter of 2023 and repurchased and retired 4,098,000, 17,425,000 and 5,572,000 shares in the open market for a total cost of $250 million, $1 billion, and $250 million during the years ended December 31, 2023, 2022 and 2021, respectively.

On June 26, 2019, the company's Board of Directors authorized a $1 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2019 Share BuyBack Plan"). The company completed the 2019 Share Buyback Plan during the third quarter of 2021 and repurchased and retired 24,705,000 shares between the years ended December 31, 2019 and 2021 in the open market. See Note 17 - Stockholders' Equity, to the Consolidated Financial Statements, for additional information related to the share buyback plans.

For the full year 2024, the company expects repurchases of approximately $1.0 billion under the 2022 Share Buyback Plan discussed above. The total amount, timing, price and volume of purchases will be based on market conditions, relevant securities laws and other market and company specific factors.

EIDP Liquidity Discussion

As discussed in Note 1 - Basis of Presentation, to the EIDP Consolidated Financial Statements, EIDP is a subsidiary of Corteva, Inc. and continues to be a reporting company, subject to the requirements of the Exchange Act. The below relates to EIDP only and is presented to provide a Liquidity discussion, only for the differences between EIDP and Corteva, Inc.

Cash provided by (used for) operating activities - continuing operations

EIDP’s cash provided by (used for) operating activities - continuing operations for the year ended December 31, 2023 was $1,408 million compared to $879 million for the year ended December 31, 2022. The change was primarily driven by the items noted on page 49, under the header "Cash provided by (used for) operating activities - continuing operations," as well as changes in the balance of the related party Master In-House Banking Agreement where EIDP and Corteva, Inc. are Participating Companies.

EIDP’s cash provided by (used for) operating activities - continuing operations for the year ended December 31, 2022 was $879 million compared to $2,731 million for the year ended December 31, 2021. The change was primarily driven by the items noted on page 49, under the header "Cash provided by (used for) operating activities - continuing operations."

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Cash provided by (used for) operating activities - discontinued operations

EIDP’s cash provided by (used for) operating activities - discontinued operations for the year ended December 31, 2023 was $(40) million compared to $(40) million for the year ended December 31, 2022. The change was primarily driven by the items noted on page 49, under the header "Cash provided by (used for) operating activities - discontinued operations."

EIDP’s cash provided by (used for) operating activities - discontinued operations for the year ended December 31, 2022 was $(40) million compared to $(42) million for the year ended December 31, 2021. The change was primarily driven by the items noted on page 49, under the header "Cash provided by (used for) operating activities - discontinued operations."

Cash provided by (used for) investing activities

EIDP’s cash provided by (used for) investing activities for the year ended December 31, 2023 was $(1,987) million compared to $(632) million for the year ended December 31, 2022. The change was primarily driven by the items noted on page 49, under the header "Cash provided by (used for) investing activities."

EIDP’s cash provided by (used for) investing activities for the year ended December 31, 2022 was $(632) million compared to $(362) million for the year ended December 31, 2021. The change was primarily driven by the items noted on page 49, under the header "Cash provided by (used for) investing activities."

Cash provided by (used for) financing activities

EIDP’s cash provided by (used for) financing activities was $302 million for the year ended December 31, 2023 compared to $(1,147) million for the year ended December 31, 2022. The change was primarily due to the May 2023 Debt Offering and higher borrowings to fund working capital needs, capital spending, dividend payments and to partially fund the Stoller and Symborg acquisitions. The change was also driven by lower payments on related party debt.

EIDP’s cash provided by (used for) financing activities was $(1,147) million for the year ended December 31, 2022 compared to $(1,228) million for the year ended December 31, 2021. The change was primarily driven by higher borrowings partially offset by higher payments on debt.

See Note 2 - Related Party Transactions, to the EIDP Consolidated Financial Statements for further information on the related party loan between EIDP and Corteva, Inc.

Critical Accounting Estimates

The company's significant accounting policies are more fully described in Note 2 - Summary of Significant Accounting Policies, to the Consolidated Financial Statements. Management believes that the application of these policies on a consistent basis enables the company to provide the users of the financial statements with useful and reliable information about the company's operating results and financial condition.

The preparation of the Consolidated Financial Statements in conformity with generally accepted accounting principles ("GAAP") in the United States of America requires management to make estimates and assumptions that affect the reported amounts, including, but not limited to, receivable and inventory valuations, impairment of tangible and intangible assets, long-term employee benefit obligations, income taxes, environmental matters and litigation. Management's estimates are based on historical experience, facts and circumstances available at the time and various other assumptions that are believed to be reasonable. The company reviews these matters and reflects changes in estimates as appropriate. Management believes that the following represent the more critical judgment areas in the application of the company's accounting policies which could have a material effect on the company's financial position, liquidity or results of operations.

Pension Plans and Other Post-Employment Benefits

Accounting for employee benefit plans involves assumptions and estimates. Discount rate and expected long-term rate of return on plan assets are two critical assumptions in measuring the cost and benefit obligation of the company's pension and OPEB plans. Management reviews these two key assumptions when plans are re-measured. These and other assumptions are updated periodically to reflect the actual experience and expectations on a plan specific basis as appropriate. As permitted by GAAP, actual results that differ from the assumptions are accumulated on a plan by plan basis and to the extent that such differences exceed 10 percent of the greater of the plan's benefit obligation or the applicable plan assets, the excess is amortized over the average remaining service period of active employees or the average remaining life expectancy of plan participants if all or almost all of a plan’s participants are inactive.

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Most of the company's benefit obligation for pensions and OPEB are attributable to the U.S. benefit plans. For U.S. benefit plans, the single equivalent discount rate is developed by matching the expected cash flow of the benefit plans to a yield curve constructed from a portfolio of high quality fixed-income instruments provided by the plans' actuaries as of the measurement date. The company measures the service and interest cost components utilizing a full yield curve approach by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. For the non-U.S. benefit plans, the company primarily utilizes prevailing long-term high quality corporate bond indices to determine the discount rate, applicable to each country, at the measurement date. The weighted average discount rates used in developing the expected 2024 net periodic pension and OPEB costs were 4.97 percent and 4.92 percent, respectively.

For the U.S. plan, the company establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. Where appropriate, asset-liability studies are also taken into consideration. The expected long-term rate of return on plan assets is based upon historical real returns (net of inflation) for the asset classes covered by the investment policy, expected performance, and projections of inflation and interest rates over the long-term period during which benefits are payable to plan participants. In determining the 2023 net periodic pension cost in the U.S., an assumption of 4.50 percent for expected long-term rate of return on plan assets was used. After re-evaluating the current strategic asset allocation and recent market conditions, the company kept the expected long-term rate of return on plan assets assumption at 4.50 percent to be used in determining the 2024 net periodic pension cost in the U.S. Consistent with prior years, the expected long-term rate of return on plan assets in the U.S. reflects the asset allocation of the plan and the effect of the company's active management of the plan's assets. For the non-U.S. plans, the strategic asset allocations are selected in accordance with the laws and practices for each country.

In determining annual expense for the principal U.S. pension plan, the company uses a market-related value of assets rather than its fair value. Accordingly, there may be a lag in recognition of changes in market valuation. As a result, changes in the fair value of assets are not immediately reflected in the company's calculation of net periodic pension cost. For the years ended December 31, 2023 and 2022, the market-related value of assets is calculated by averaging market returns over 36 months.

The following table shows the market-related value and fair value of plan assets for the principal U.S. pension plan:

(Dollars in billions)	December 31, 2023		December 31, 2022		December 31, 2021
Market-related value of assets	$	11.9	$	13.6	$	17.2
Fair value of plan assets	11.4		12.3		17.5

For plans other than the principal U.S. pension plan, pension expense is determined using the fair value of assets.

The following table highlights the potential impact on the company's pre-tax earnings due to changes in certain key assumptions with respect to the company's pension and OPEB plans, based on assets and liabilities at December 31, 2023:

Pre-tax Earnings Benefit (Charge) (Dollars in millions)	1/4 Percentage Point Increase		1/4 Percentage Point Decrease
Discount rate	$	(15)	$	18
Expected rate of return on plan assets	29		(29)

Additional information with respect to pension and OPEB expenses, liabilities and assumptions is discussed under "Long-Term Employee Benefits" beginning on page 57 and in Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements.

Environmental Matters

Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. At December 31, 2023, the company had accrued obligations of $501 million for probable environmental remediation and restoration costs, including $55 million for the remediation of Superfund sites. As remediation activities vary substantially in duration and cost from site to site, it is difficult to develop precise estimates of future site remediation costs. The company's estimates are based on a number of factors, including the complexity of the geology, the nature and extent of contamination, the type of remedy, the outcome of discussions with regulatory agencies and other

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Potentially Responsible Parties ("PRPs") at multi-party sites and the number of and financial viability of other PRPs. Therefore, considerable uncertainty exists with respect to environmental remediation and costs, and, under adverse changes in circumstances, it is reasonably possible that the ultimate cost with respect to these particular matters could range up to approximately $655 million above the accrued obligations amount. Consequently, it is reasonably possible that environmental remediation and restoration costs in excess of amounts accrued could have a material impact on the company’s results of operations, financial condition and cash flows. It is the opinion of the company’s management, however, that the possibility is remote that costs in excess of the range disclosed will have a material impact on the company’s results of operations, financial condition or cash flows. For further discussion, see "Environmental Matters" section on page 58 and Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements.

Legal Contingencies

The company's results of operations could be affected by significant litigation adverse to the company, including product liability claims, patent infringement and antitrust claims, and claims for third-party property damage or personal injury stemming from alleged environmental torts. The company records accruals for legal matters when the information available indicates that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Management makes adjustments to these accruals to reflect the impact and status of negotiations, settlements, rulings, advice of counsel and other information and events that may pertain to a particular matter. Predicting the outcome of claims and lawsuits and estimating related costs and exposure involves substantial uncertainties that could cause actual costs to vary materially from estimates. In making determinations of likely outcomes of litigation matters, management considers many factors. These factors include, but are not limited to, the nature of specific claims including unasserted claims, the company's experience with similar types of claims, the jurisdiction in which the matter is filed, input from outside legal counsel, the likelihood of resolving the matter through alternative dispute resolution mechanisms, and the matter's current status. Considerable judgment is required in determining whether to establish a litigation accrual when an adverse judgment is rendered against the company in a court proceeding. In such situations, the company will not recognize a loss if, based upon a thorough review of all relevant facts and information, management believes that it is probable that the pending judgment will be successfully overturned on appeal. A detailed discussion of significant litigation matters is contained in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements.

Indemnification Assets

The company has entered into various agreements where the company is indemnified for certain liabilities by DuPont, Dow and Chemours. The term of this indemnification is generally indefinite and includes defense costs and expenses, as well as monetary and non-monetary settlements and judgments. In connection with the recognition of liabilities related to these matters, the company records an indemnification asset when recovery is deemed probable. In assessing the probability of recovery, the company considers the contractual rights under the separation agreements and any potential credit risk. Future events, such as potential disputes related to recovery as well as the solvency of DuPont, Dow and/or Chemours, could cause the indemnification assets to have a lower value than anticipated and recorded. The company evaluates the recovery of the indemnification assets recorded when events or changes in circumstances indicate the carrying values may not be fully recoverable. See Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information related to indemnifications.

Income Taxes

The breadth of the company's operations and the global complexity of tax regulations require assessments of uncertainties and judgments in estimating taxes the company will ultimately pay. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions, outcomes of tax litigation and resolution of disputes arising from federal, state and international tax audits in the normal course of business. The resolution of these uncertainties may result in adjustments to the company's tax assets and tax liabilities. It is reasonably possible that changes to the company’s global unrecognized tax benefits could be significant; however, due to the uncertainty regarding the timing of completion of audits and possible outcomes, a current estimate of the range of increases or decreases that may occur within the next twelve months cannot be made.

Deferred income taxes result from differences between the financial and tax basis of the company's assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Significant judgment is required in evaluating the need for and magnitude of appropriate valuation allowances against deferred tax assets. The realization of these assets is dependent on generating future taxable income, as well as successful implementation of various tax planning strategies. For

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example, changes in facts and circumstances that alter the probability that the company will realize deferred tax assets could result in recording a valuation allowance, thereby reducing the deferred tax asset and generating a deferred tax expense in the relevant period. In some situations, these changes could be material.

At December 31, 2023, the company had a net deferred tax liability balance of $315 million, inclusive of a valuation allowance of $510 million. Realization of deferred tax assets is expected to occur over an extended period of time. As a result, changes in tax laws, assumptions with respect to future taxable income, and tax planning strategies could result in adjustments to deferred tax assets.

See Note 8 - Income Taxes, to the Consolidated Financial Statements, for additional information.

Valuation of Assets and Impairment Considerations

The assets and liabilities of acquired businesses are measured at their estimated fair values at the dates of acquisition. The excess of the purchase price over the estimated fair value of the net assets acquired, including identified intangible assets, is recorded as goodwill. The determination and allocation of fair value to the assets acquired and liabilities assumed is based on various assumptions and valuation methodologies requiring considerable management judgment, including estimates based on historical information, current market data and future expectations. The principal assumptions utilized in the company's valuation methodologies include revenue growth rates, EBITDA margin estimates, royalty rates, and discount rates. Although the estimates are deemed reasonable by management based on information available at the dates of acquisition, those estimates are inherently uncertain.

Assessment of the potential impairment of goodwill, other intangible assets, property, plant and equipment, investments in nonconsolidated affiliates, and other assets is an integral part of the company's normal ongoing review of operations. Testing for potential impairment of these assets is significantly dependent on numerous assumptions and reflects management's best estimates at a particular point in time. The dynamic economic environment in which the company's segments operate, and key economic and business assumptions with respect to projected selling prices, market growth and inflation rates, can significantly affect the outcome of impairment tests. Estimates based on these assumptions may differ significantly from actual results. Changes in factors and assumptions used in assessing potential impairments can have a significant impact on the existence and magnitude of impairments, as well as the time in which such impairments are recognized. In addition, the company continually reviews its portfolio of assets to ensure they are achieving their greatest potential and are aligned with the company's growth strategy. Strategic decisions involving a particular group of assets may trigger an assessment of the recoverability of the related assets. Such an assessment could result in impairment losses.

The company tests goodwill and other indefinite-lived intangible assets for impairment annually (during the fourth quarter), or more frequently when events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit has declined below its carrying value. Goodwill is evaluated for impairment using qualitative and / or quantitative testing procedures. The company performs goodwill impairment testing at the reporting unit level, which is defined as the operating segment or one level below the operating segment. One level below the operating segment, or component, is a business in which discrete financial information is available and regularly reviewed by segment management. The company aggregates certain components into reporting units based on economic similarities. The company’s reporting units included seed, crop protection and digital until its April 2022 implementation of a global business unit organization model (“BU Reorganization”), after which its reporting units are seed and crop protection. 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.

For purposes of goodwill impairment testing, the company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors assessed at the company level include GDP growth rates, long-term commodity prices, equity and credit market activity, discount rates, and overall financial performance. Qualitative factors assessed at the reporting unit level include changes in industry and market structure, competitive environments, planned capacity and new product launches, cost factors such as raw material prices, and financial performance of the reporting unit. If the company chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required.

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If additional quantitative testing is required, the reporting unit’s fair value is compared with its carrying amount, and an impairment charge, if any, is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value, limited to the amount of goodwill associated with the reporting unit. The company determines fair values for each of the reporting units using a discounted cash flow model (a form of the income approach), utilizing Level 3 unobservable inputs, or the market approach.

Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. The company’s significant assumptions in these analyses include future cash flow projections, weighted average cost of capital, the terminal growth rate and the tax rate. The company’s estimates of future cash flows are based on current regulatory and economic climates, recent operating results, and assumed business strategy from a market participant perspective and includes an estimate of long-term future growth rates based on such strategy. Actual results may differ from those assumed in the company’s forecasts. The company derives its discount rates using a capital asset pricing model and analyzes published rates for industries relevant to its reporting units to estimate the cost of equity financing. The company uses discount rates that are commensurate with the risks and uncertainty inherent in the respective reporting units and in its internally developed forecasts. Under the market approach, the company uses metrics of publicly traded companies or historically completed transactions for comparable companies.

As a result of the BU Reorganization, the company determined that a triggering event had occurred during the second quarter of 2022 that required an interim impairment assessment as of April 1, 2022. The interim impairment assessment was performed on the seed, crop protection, and the former digital reporting units immediately prior to the BU Reorganization and for the seed and crop protection reporting units immediately after the BU Reorganization resulting in no goodwill impairment charges.

Qualitative interim impairment assessments were performed for the seed and crop protection reporting units as of April 1, 2022. Based on the qualitative assessment performed, it was more likely than not that the fair value of each reporting unit exceeded the carrying value and therefore a quantitative test was not performed.

A quantitative impairment assessment was performed for the former digital reporting unit as of April 1, 2022 using a combination of the discounted cash flow model (a form of the income approach) and the market approach. The discount rate used in the company’s valuation was 19.0 percent.

Estimating the fair value of reporting units requires the use of estimates and significant judgments that are based on a number of factors including actual operating results. It is reasonably possible that the judgments and estimates described above could change in future periods. The company believes the current assumptions and estimates utilized are both reasonable and appropriate. Based on the quantitative annual goodwill impairment analyses performed in the fourth quarter 2023, which were performed using the income approach, the company concluded the fair value of each of the reporting units exceeded their respective carrying values by more than 50.0 percent, and no goodwill impairment charge was necessary. The discount rate used in the company’s valuations was 10.3 percent.

Prepaid Royalties

The company’s seed segment currently has certain third-party biotechnology trait license agreements, which require up-front and variable payments subject to the licensor meeting certain conditions. These payments are reflected as other current assets and other assets and are amortized to cost of goods sold as seeds containing the respective trait technology are utilized over the term of the license. The rate of royalty amortization expense recognized is based on the company’s strategic plans which include various assumptions and estimates including product portfolio, market dynamics, farmer preferences, growth rates and projected planted acres. Changes in factors and assumptions included in the strategic plans, including potential changes to the product portfolio in favor of internally developed biotechnology, could impact the rate of recognition of the relevant prepaid royalty.

At December 31, 2023, the balance of prepaid royalties reflected in other current assets and other assets was approximately $105 million and $25 million, respectively. The majority of the balance of prepaid royalties in other current assets relates to the company’s wholly owned subsidiary, Pioneer Hi-Bred International, Inc.’s (“Pioneer”) non-exclusive license in the United States and Canada for the Monsanto Company's Genuity® Roundup Ready 2 Yield® glyphosate tolerance trait and Roundup Ready 2 Xtend® glyphosate and dicamba tolerance trait for soybeans (“Roundup Ready 2 License Agreement”). The prepaid royalty asset relates to a series of up-front, fixed and variable royalty payments to utilize the traits in Pioneer’s soybean product mix. The company’s historical expectation was that the technology licensed under the Roundup Ready 2 License Agreement

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would be used as the primary herbicide tolerance trait platform in the Pioneer® brand soybean through the term of the agreement. DAS, the agriculture business of Historical Dow, and MS Technologies, L.L.C. jointly developed and own the Enlist E3TM herbicide tolerance trait for soybeans, which provides tolerance to 2, 4-D choline in Enlist Duo® and Enlist One® herbicides, as well as glyphosate and glufosinate herbicides. In connection with the validation of breeding plans and large-scale product development timelines, during 2019 the company committed to accelerate the ramp up of the Enlist E3TM trait platform in the company’s soybean portfolio mix across all brands, including Pioneer® brands. During the five-year ramp-up period, the company has begun to significantly reduce the volume of products with the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits beginning in 2021, with expected minimal use of the trait platform thereafter for the remainder of the Roundup Ready 2 License Agreement (the “Transition Plan”). As of December 31, 2023, Enlist E3TM trait platform has grown to 58 percent of our soybean portfolio. Royalty expense has therefore significantly increased through higher amortization of the prepaid royalty.

In connection with the departure from these traits in the company's product portfolio, beginning January 1, 2020 the company presents and discloses the accelerated prepaid royalty amortization expense as a component of restructuring and asset related charges - net in the Consolidated Statement of Operations. The accelerated prepaid royalty amortization expense represents the difference between the rate of amortization based on the revised number of units expected to contain the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® trait technology and the per unit cash rate per the Roundup Ready 2 License Agreement. For the year ended December 31, 2023, the company recognized charges of $72 million in restructuring and asset related charges - net in the Consolidated Statement of Operations from non-cash accelerated prepaid royalty amortization expense. The expected non-cash accelerated prepaid royalty amortization expense estimated for 2024 is approximately $60 million.

Further changes in factors and assumptions associated with usage of the trait platform licensed under the Roundup Ready 2 License Agreement, including the Transition Plan, could further impact the rate of recognition of the prepaid royalty and Consolidated Statement of Operations presentation of the accelerated prepaid royalty amortization expense.

Off-Balance Sheet Arrangements

Certain Guarantee Contracts

Information with respect to the company's guarantees is included in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements. Historically, the company has not made significant payments to satisfy guarantee obligations; however, the company believes it has the financial resources to satisfy these guarantees.

MOU Escrow Contributions

On January 22, 2021, Chemours, DuPont, Corteva and EIDP entered into a binding memorandum of understanding containing a settlement to resolve legal disputes originating from the Delaware Litigation and Pending Arbitration, and to establish a cost sharing arrangement for potential future legacy per- and polyfluoroalkyl substances (“PFAS”) liabilities arising out of pre-July 1, 2015 conduct (the “MOU”). Under the terms of the MOU, Corteva’s estimated aggregate share of the potential $2 billion is approximately $600 million. In order to support and manage any potential future PFAS liabilities, the parties have also agreed to establish an escrow account ("MOU Escrow Account"). The MOU provides that contributions to the MOU Escrow Account will be made by Chemours, DuPont and Corteva, annually over an eight-year period through 2028. Over this period, Chemours will deposit a total of $500 million in the account and DuPont and Corteva, together, will deposit an additional $500 million pursuant to the terms of the Letter Agreement. Additionally, if on December 31, 2028, the balance of the MOU Escrow Account (including interest) is less than $700 million, Chemours will make 50% of the deposits and DuPont and Corteva, together, will make 50% of the deposits necessary to restore the balance of the escrow account to $700 million pursuant to the terms of the Letter Agreement.

The company made its annual installment deposits due to the MOU Escrow Account through December 31, 2022 and waived the contributions due in 2023 and 2024 pursuant to the supplemental agreement to the MOU executed by Chemours, DuPont and Corteva provided certain conditions are met. Refer to Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for further details on the MOU and funding of the MOU Escrow Account.

Contractual Obligations

Our principal commitments consist of long-term debt, operating and finance lease obligations and environmental remediation obligations. Refer to Note 15 - Short-Term Borrowings, Long-Term Debt and Available Credit Facilities, Note 14 – Leases, and Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, respectively, for further discussion.

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Information related to the company's other significant contractual obligations are summarized in the following table:

			Payments Due In
(Dollars in millions)	Total at December 31, 2023		2024		2025 and beyond
Expected cumulative cash requirements for interest payments      through maturity	$	546	$	94	$	452
Purchase obligations1	2,184		629		1,555
License agreements2, 3	48		24		24
Other liabilities2, 4	271		28		243
Total 5	$	3,049	$	775	$	2,274

1.Represents enforceable and legally binding agreements in excess of $1 million to purchase goods or services that specify fixed or minimum quantities; fixed, minimum or variable price provisions; and the approximate timing of the agreement.

2.Included in the Consolidated Financial Statements.

3.    Represents undiscounted remaining payments under Pioneer license agreements (approximately $45 million on a discounted basis).

4.    Includes liabilities related to employee-related benefits other than pension and other post-employment benefits, asset retirement obligations and other noncurrent liabilities.

5.    Due to uncertainty regarding the completion of tax audits and possible outcomes, the timing of certain payments of obligations related to unrecognized tax benefits cannot be made and have been excluded from the table above. See Note 8 - Income Taxes, to the Consolidated Financial Statements, for additional detail.

The company expects to meet its contractual obligations through its normal sources of liquidity and believes it has the financial resources to satisfy the contractual obligations that arise in the ordinary course of business.

Long-Term Employee Benefits

The company has various obligations to its employees and retirees. The company maintains retirement-related programs in many countries that have a long-term impact on the company's earnings and cash flows. These plans are typically defined benefit pension plans, as well as medical, dental and life insurance benefits for pensioners and survivors and disability benefits for employees ("other post-employment benefits" or "OPEB"). Substantially all of the company's worldwide benefit obligation for pensions and OPEB obligations are attributable to the U.S. benefit plans.

Pension coverage for employees of the company's non-U.S. consolidated subsidiaries is provided, to the extent deemed appropriate, through separate plans. The company regularly explores alternative solutions to meet its global pension obligations in the most cost effective manner possible as demographics, life expectancy and country-specific pension funding rules change. Where permitted by applicable law, the company reserves the right to change, modify or discontinue its plans that provide pension, medical, dental, life insurance and disability benefits.

Benefits under defined benefit pension plans are based primarily on years of service and employees' pay near retirement. In November 2016, the company announced changes to the U.S. pension and OPEB plans, and on November 30, 2018, the company froze the pay and service amounts used to calculate pension benefits for active employees who participate in the U.S. pension plans, resulting in the participants no longer accruing additional benefits. In addition to the changes to the U.S. pension plans, OPEB eligible employees who were under the age of 50 as of November 30, 2018 will not receive post-employment medical, dental and life insurance benefits. The majority of employees hired in the U.S. on or after January 1, 2007 are not eligible to participate in the pension and post-employment medical, dental and life insurance plans, but receive benefits in the defined contribution plans.

In December 2020, the company amended its retiree medical, dental and life insurance plans resulting in the company no longer providing retiree dental and life insurance benefits effective January 1, 2022 and Corteva’s portion of the cost of non-Medicare retiree medical coverage no longer being adjusted for cost increases, which capped the Corteva cost at the level as of December 31, 2021 ("2020 OPEB Plan Amendments"). As a result of these changes, the company recorded a $939 million decrease in OPEB benefit obligations as of December 31, 2020 with a corresponding prior service benefit within other comprehensive income (loss) for the year ended December 31, 2020. A substantial amount of the prior service benefit within other comprehensive income (loss) in 2020 was recognized in other income (expense) - net in the Consolidated Statement of Operations during 2021 with the remainder recognized during 2022.

Pension benefits are paid primarily from trust funds established to comply with applicable laws and regulations. The actuarial assumptions and procedures utilized are reviewed periodically by the plans' actuaries to provide reasonable assurance that there

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will be adequate funds for the payment of benefits. The company did not make contributions to the principal U.S. pension plan for the years ended December 31, 2023, 2022 or 2021.

Funding for each pension plan other than the principal U.S. pension plan is governed by the rules of the sovereign country in which it operates. Thus, there is not necessarily a direct correlation between pension funding and pension expense. In general, however, improvements in plans' funded status tends to moderate subsequent funding needs. The company contributed $5 million, $6 million, and $8 million to its funded pension plans other than the principal U.S. pension plan for the years ended December 31, 2023, 2022 and 2021, respectively.

U.S. pension benefits that exceed federal limitations are covered by separate unfunded plans and these benefits are paid to pensioners and survivors from operating cash flows. The company's remaining pension plans with no plan assets are paid from operating cash flows. The company made benefit payments of $47 million, $53 million, and $41 million to its unfunded plans for the years ended December 31, 2023, 2022 and 2021, respectively.

The company's OPEB plans are unfunded and the cost of the approved claims is paid from operating cash flows. Pre-tax cash requirements to cover actual net claims costs and related administrative expenses were $97 million, $122 million, and $198 million for the years ended December 31, 2023, 2022 and 2021, respectively. Changes in cash requirements reflect the net impact of per capita health care cost, demographic changes, plan amendments and changes in participant premiums, co-pays and deductibles.

In 2024, the company expects to contribute approximately $50 million to its pension plans other than the principal U.S. pension plan and approximately $115 million to its OPEB plans. The company does not anticipate making contributions to its principal U.S. pension plan in 2024.

The company's income can be significantly affected by pension and defined contribution benefits as well as OPEB costs. The following table summarizes the extent to which the company's income (loss) from continuing operations before income taxes for the years ended December 31, 2023, 2022 and 2021 was affected by pre-tax charges related to long-term employee benefits:

	For the Year Ended December 31,
(Dollars in millions)	2023		2022		2021
Net periodic benefit (credit) cost - pension and OPEB	$	138	$	(142)	$	(1,292)
Defined contributions	146		133		125
Long-term employee benefit plan (credit) charges - continuing operations	$	284	$	(9)	$	(1,167)

The above (credit) charges for pension and OPEB are determined as of the beginning of each period. Long-term employee benefit plan (credits) costs were $284 million and $(9) million for the years ended December 31, 2023 and 2022, respectively. The change is mainly due to an increase in discount rates and a decrease in asset returns due to lower pension plan assets. See "Pension Plans and Other Post-Employment Benefits" under the Critical Accounting Estimates section beginning on page 51 of this report for additional information on determining annual expense.

For 2024, long-term employee benefit costs are expected to increase by approximately $30 million. The change is mainly due to a decrease in asset values.

Environmental Matters

The company operates global manufacturing, product handling and distribution facilities that are subject to a broad array of environmental laws and regulations. Such rules are subject to change by the implementing governmental agency, and the company monitors these changes closely. Company policy requires that all operations fully meet or exceed legal and regulatory requirements. In addition, the company implements voluntary programs to reduce air emissions, minimize the generation of hazardous waste, decrease the volume of water use and discharges, increase the efficiency of energy use and reduce the generation of persistent, bioaccumulative and toxic materials. Management has noted a global upward trend in the amount and complexity of proposed chemicals regulation. The costs to comply with complex environmental laws and regulations, as well as internal voluntary programs and goals, are significant and will continue to be significant for the foreseeable future.

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Pre-tax environmental expenses charged to income (loss) from continuing operations before income taxes are summarized below:

	For the Year Ended December 31,
(Dollars in millions)	2023		2022		2021
Environmental operating costs	$	178	$	154	$	144
Environmental remediation costs1	47		84		46
	$	225	$	238	$	190

1.Environmental remediation costs include costs that are subject to the $200 million threshold and sharing arrangements as discussed in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, under the header Corteva Separation Agreement.

Environmental Operating Costs

As a result of its operations, the company incurs costs for pollution abatement activities including waste collection and disposal, installation and maintenance of air pollution controls and wastewater treatment, emissions testing and monitoring, and obtaining permits. The company also incurs costs related to environmental related research and development activities including environmental field and treatment studies as well as toxicity and degradation testing to evaluate the environmental impact of products and raw materials.

About 85 percent of total pre-tax environmental operating costs charged to income (loss) from continuing operations for the year ended December 31, 2023 resulted from operations in the U.S. Based on existing facts and circumstances, management does not believe that year-over-year changes, if any, in environmental operating costs charged to current operations will have a material impact on the company's financial position, liquidity or results of operations. Annual expenditures in the near term are not expected to vary significantly from the range of such expenditures experienced in the past few years. Longer term, expenditures are subject to considerable uncertainty and may fluctuate significantly.

Remediation Accrual

Changes in the remediation accrual balance are summarized below:

(Dollars in millions)
Balance at December 31, 2021	$	452
Remediation payments	(49)
Net increase in remediation accrual 1	84
Net change, indemnification 2	25
Balance at December 31, 2022	$	512
Remediation payments	(50)
Net increase in remediation accrual 1	47
Net change, indemnification 2	(8)
Balance at December 31, 20233	$	501

1.Excludes indemnified remediation obligations.

2.Represents the net change in indemnified remediation obligations based on activity as well as the removal from EIDP's accrued remediation liabilities of obligations that have been fully transferred to Chemours and DuPont. Pursuant to the Chemours Separation Agreement and subsequent MOU, and the Corteva Separation Agreement, as discussed in Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, EIDP is indemnified by Chemours and DuPont for certain environmental matters.

3.Includes accrued obligations of $145 million due in the next twelve months with the remainder being due subsequent to 2024.

Considerable uncertainty exists with respect to environmental remediation costs and, under adverse changes in circumstances, the potential liability may range up to approximately $655 million above the amount accrued as of December 31, 2023. However, based on existing facts and circumstances, management does not believe that any loss, in excess of amounts accrued, related to remediation activities at any individual site will have a material impact on the financial position, liquidity or results of operations of the company. Refer to Note 16 – Commitments and Contingent Liabilities for further details on the company’s accrued obligations at December 31, 2023.

As of December 31, 2023, the company has been notified of potential liability under the Comprehensive Environmental Response, Compensation and Liability Act ("Superfund") or similar state laws at about 505 sites around the U.S., including

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ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, continued

approximately 110 sites for which the company does not believe it has liability based on current information. Active remediation is under way at approximately 60 of the about 505 sites. In addition, the company has resolved its liability at about 210 sites, either by completing remedial actions with other PRPs or by participating in "de minimis buyouts" with other PRPs whose waste, like the company's, represented only a small fraction of the total waste present at a site. There were two new notices in 2023 and none in 2022.

Environmental Capital Expenditures

Capital expenditures for environmental projects, either required by law or necessary to meet the company’s internal environmental goals, were approximately $10 million for the year ended December 31, 2023. The company currently estimates expenditures for environmental-related capital projects to be approximately $15 million in 2024.

Climate Change

The company believes that climate change is an important global environmental concern that presents risks and opportunities, of which the Sustainability and Innovation Committee of the Board of Directors maintains oversight. Management regularly assesses and manages climate-related issues. Across its business, individuals who are responsible for climate-related initiatives may have annual performance goals tied to the delivery of projects related to these initiatives.

Continuing political and social attention to climate change and its impacts has resulted in regulatory and market-based approaches to limit greenhouse gas emissions. The company believes there is a way forward for sustainable climate change mitigation that both enables farmers to meet the demands of a growing population and secures the economic future for the vast majority of the world’s population who depend on agriculture for their livelihoods. 

Extreme and volatile weather due to climate change may have an adverse impact on our customers’ ability to use the company's products and seed supply, potentially reducing sales volumes, revenues and margins. The company continuously evaluates opportunities for existing and new product and service offerings to meet the anticipated demands of climate-smart agriculture and mitigate the impact of extreme and volatile weather. The company integrates processes for identifying, assessing and managing climate-related risk into its enterprise risk management program.

The company completed a non-financial materiality assessment and identified short-, medium- and long-term climate-related risks and opportunities. The results of this assessment are integrated into the company's businesses, strategy and financial planning. Corteva has an established climate strategy, including commitments to reduce greenhouse gas emissions. The company is seeking ways to reduce its impact and providing tools and incentives for customers to do the same. Corteva champions climate positive agriculture, utilizing carbon storage and other means to remove carbon from the atmosphere without sacrificing farmer productivity or ongoing profitability.

While Corteva is working to reduce its role in the emission of greenhouse gasses, it also invests in enabling innovation that can create a more resilient agriculture value chain. The company engages with multiple stakeholders and partners around the globe regarding our innovations and actionable ideas to help safeguard the health and well-being of the planet and its people.

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ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The company’s global operations are exposed to financial market risks relating to fluctuations in foreign currency exchange rates, commodity prices, and interest rates. The company has established a variety of programs including the use of derivative instruments and other financial instruments to manage the exposure to financial market risks as to minimize volatility of financial results. In the ordinary course of business, the company enters into derivative instruments to hedge its exposure to foreign currency and commodity price risks under established procedures and controls. For additional information on these derivatives and related exposures, see Note 20 - Financial Instruments, to the Consolidated Financial Statements. Decisions regarding whether or not to hedge a given commitment are made on a case-by-case basis, taking into consideration the amount and duration of the exposure, market volatility and economic trends. Foreign currency exchange contracts may be used, from time to time, to manage near-term foreign currency cash requirements.

Foreign Currency Exchange Rate Risks

The company has significant international operations resulting in a large number of currency transactions that result from international sales, purchases, investments and borrowings. The primary currencies for which the company has an exchange rate exposure are the Brazilian Real, European Euro ("EUR"), Swiss franc, Canadian dollar and Argentine peso. The company uses foreign exchange contracts, where possible, to offset its net exposures, by currency, related to the foreign currency denominated monetary assets and liabilities of its operations. The company also uses foreign currency exchange contracts to offset a portion of the company's exposure to certain forecasted transactions, investment in foreign subsidiaries, as well as the translation of foreign currency-denominated earnings and uses commodity contracts to offset risks associated with foreign currency devaluation in certain countries. In addition to the contracts disclosed in Note 20 - Financial Instruments, to the Consolidated Financial Statements, from time to time, the company may enter into foreign currency exchange contracts to establish with certainty the U.S. dollar ("USD") amount of future firm commitments denominated in a foreign currency.

The following table illustrates the fair values of outstanding foreign currency contracts at December 31, 2023 and 2022, and the effect on fair values of a hypothetical adverse change in the foreign exchange rates that existed at December 31, 2023 and 2022. The sensitivities for foreign currency contracts are based on a 10 percent adverse change in foreign exchange rates.

	Fair Value (Liability)/Asset				Fair Value Sensitivity
(Dollars in millions)	2023		2022		2023		2022
Foreign currency contracts	$	22	$	25	$	(492)	$	(208)

The potential gain/loss in value for each risk management portfolio described above would be offset in part by changes in the value of the underlying exposure.

Concentration of Credit Risk

The company maintains cash and cash equivalents, marketable securities, derivatives and certain other financial instruments with various financial institutions. These financial institutions are generally highly rated and geographically dispersed and the company has a policy to limit the dollar amount of credit exposure with any one institution.

As part of the company's financial risk management processes, it continuously evaluates the relative credit standing of all of the financial institutions that service Corteva and monitors actual exposures versus established limits. The company has not sustained credit losses from instruments held at financial institutions.

The company's sales are not materially dependent on any single customer. Credit risk associated with its receivables balance is representative of the geographic, industry and customer diversity associated with the company's global product lines.

The company also maintains strong credit controls in evaluating and granting customer credit. As a result, it may require that customers provide some type of financial guarantee in certain circumstances. Length of terms for customer credit varies by region.

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ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The financial statements and supplementary data required by this Item are included herein, commencing on page F-1 of this report.

ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

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ITEM 9A.  CONTROLS AND PROCEDURES

Corteva, Inc.

a)        Evaluation of Disclosure Controls and Procedures

The company maintains a system of disclosure controls and procedures to give reasonable assurance that information required to be disclosed in the company's reports filed or submitted under the Securities Exchange Act of 1934 ("Exchange Act") is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. These controls and procedures also give reasonable assurance that information required to be disclosed in such reports is accumulated and communicated to management to allow timely decisions regarding required disclosures.

As of December 31, 2023, the company's Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), together with management, conducted an evaluation of the effectiveness of the company's disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) of the Exchange Act. Based on that evaluation, the CEO and CFO concluded that these disclosure controls and procedures are effective.

b)                         Changes in Internal Control over Financial Reporting

There have been no changes in the company's internal control over financial reporting that occurred during the quarter ended December 31, 2023 that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting.

Management’s assessment of the effectiveness of the company’s internal control over financial reporting as of December 31, 2023 excluded the Stoller and Symborg acquisitions, which were completed in March 2023. Total assets, excluding goodwill and other intangible assets, and net sales of Stoller and Symborg represent approximately 1 percent and 2 percent, respectively, of the company’s consolidated assets and net sales, as of and for the year ended December 31, 2023. This exclusion is in accordance with the guidelines established by the Securities and Exchange Commission.

The effectiveness of our internal control over financial reporting as of December 31, 2023, has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in the Report of Independent Registered Public Accounting Firm contained in our 2023 Annual Report, which is also incorporated herein by reference.

EIDP, Inc.

a)        Evaluation of Disclosure Controls and Procedures

EIDP maintains a system of disclosure controls and procedures to give reasonable assurance that information required to be disclosed in EIDP's reports filed or submitted under the Securities Exchange Act of 1934 ("Exchange Act") is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. These controls and procedures also give reasonable assurance that information required to be disclosed in such reports is accumulated and communicated to management to allow timely decisions regarding required disclosures.

As of December 31, 2023, EIDP's CEO and CFO, together with management, conducted an evaluation of the effectiveness of EIDP's disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) of the Exchange Act. Based on that evaluation, the CEO and CFO concluded that these disclosure controls and procedures are effective.

b)                         Changes in Internal Control over Financial Reporting

There have been no changes in EIDP's internal control over financial reporting that occurred during the quarter ended December 31, 2023 that have materially affected, or are reasonably likely to materially affect, EIDP's internal control over financial reporting.

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Management’s assessment of the effectiveness of the company’s internal control over financial reporting as of December 31, 2023 excluded the Stoller and Symborg acquisitions, which were completed in March 2023. Total assets, excluding goodwill and other intangible assets, and net sales of Stoller and Symborg represent approximately 1 percent and 2 percent, respectively, of the company’s consolidated assets and net sales, as of and for the year ended December 31, 2023. This exclusion is in accordance with the guidelines established by the Securities and Exchange Commission.

The effectiveness of our internal control over financial reporting as of December 31, 2023, has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in the Report of Independent Registered Public Accounting Firm contained in our 2023 Annual Report, which is also incorporated herein by reference.

ITEM 9B.  OTHER INFORMATION

None.

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

Not applicable.

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ITEM 10.  DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Information with respect to this Item is incorporated herein by reference to the Proxy, including information within the sections entitled, "Election of Directors," and "Corporate Governance."

The company has adopted a Code of Financial Ethics for its CEO, CFO, and Controller that may be accessed from the company's website at www.corteva.com by clicking on "Investors" and then "Corporate Governance." Any amendments to, or waiver from, any provision of the code will be posted on the company's website at the above address.

Executive Officers of the Registrant

Our executive officers serve at the discretion of the Board of Directors. The names of our executive officers and their ages, titles, and biographies as of February 8, 2024 are set forth below:

Charles V. Magro, age 54, was named Chief Executive Officer and director of Corteva effective November 2021. Prior to joining Corteva, Mr. Magro served as President and CEO of Nutrien Ltd. from the company’s launch in 2018 until April 2021. From 2014 to 2018, he served as President and CEO of Agrium Inc., which merged with Potash Corporation of Saskatchewan Inc. to create Nutrien Ltd. As President and CEO of Nutrien Ltd., Mr. Magro led more than 27,000 employees to achieve best-in-class engagement, top safety performance and exceptional business results. While at Nutrien he also led the company through numerous M&A transactions thereby, expanding its global footprint. Prior to this role, Mr. Magro held a variety of other key leadership positions with the company, including Chief Operating Officer, Chief Risk Officer, Executive Vice President of Corporate Development, and Vice President of Manufacturing. He joined Agrium Inc. in 2009 following a productive career with NOVA Chemicals Corp. Mr. Magro has served on the board of directors of Ingredion Inc., a global provider of ingredient solutions to the food and beverage manufacturing industry since May 2022. Mr. Magro previously served on the Canada Pension Plan Investment Board from 2018 until March 2022.

David J. Anderson, age 74, was named Executive Vice President and Chief Financial Officer of Corteva effective April 2021. Mr. Anderson is an experienced Chief Financial Officer, with a career spanning a number of diverse global companies across a range of industries. Prior to joining Corteva in April 2021, Mr. Anderson was interim chief financial officer at Criteo S.A. from May 2020 to August 2020, which he joined after serving as chief financial officer and chief operating officer at Nielsen Holdings plc from September 2018 to December 2019. He previously served as executive vice president and chief financial officer of Alexion Pharmaceuticals from December 2016 to August 2017, which he joined following his tenure of more than a decade as the chief financial officer for Honeywell. Prior to that, Mr. Anderson was the chief financial officer for ITT, Inc., Newport News Shipbuilding Inc., and RJR Nabisco, Inc. Mr. Anderson previously served on the boards of American Electric Power from 2011 through June 2022 and Cardinal Health from April 2014 to September 2018.

Timothy P. Glenn, age 57, was named Executive Vice President, Seed Business Unit of Corteva effective April 2022. A global agricultural industry leader, Mr. Glenn has more than three decades of experience across all facets of business leadership for seeds and crop protection, including sales, marketing, integrated operations, and commercial effectiveness. Mr. Glenn previously served as Executive Vice President, Chief Commercial Officer of Corteva from 2018 to April 2022. Prior to this, he served as Vice President, Global Seed Business Platform of DowDuPont Inc. since 2017. From 2015 to 2017, Mr. Glenn served as President, DuPont Crop Protection, and from 2014 to 2015, he served as vice president, integrated operations and commercial effectiveness for DuPont Pioneer. He previously held other leadership positions at DuPont Pioneer, including regional business director, Latin America and Canada, after rejoining DuPont Pioneer in 2006 as director, North America Marketing. In 1997, he joined Dow AgroSciences as corn product manager, Mycogen Seeds, and served in sales and business leadership roles in the crop protection and seeds businesses of Dow AgroSciences. He first joined Pioneer Hi-Bred International, Inc. in 1991, and held a variety of marketing roles in seed markets around the world. Mr. Glenn is a member of the Iowa Business Council and currently serves as chair of both the Food Bank of Iowa and the Iowa Business Education Alliance board of directors.

Robert King, age 53, was named Executive Vice President, Crop Protection Business Unit of Corteva effective April 2022. Mr. King is a highly experienced executive in the specialty chemicals and agriculture industry. Prior to joining Corteva, Mr. King served as Senior Vice President and Chief Integrated Supply Chain Officer at Nouryon from December 2020 to March 2022, where he spearheaded the global and cross-business integration of the company’s supply chain. From December 2019 to December 2020, he previously served as Vice President of Global Operations for PPG’s industrial segment. Mr. King was also the Vice President of Global Supply Chain from July 2018 to December 2019 for Nutrien Ltd., where he worked for five years

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and was appointed to lead the centralization of the company’s supply chain. Prior to this, he served as a Regional Manager at Nutrien Ltd. and as the Vice President of Nitrogen Operations and Services at Agrium Inc. in Canada before the company became Nutrien in July 2018. Mr. King started his career at Celanese Corp., where he worked for nearly two decades and held management roles around the world.

Dr. Samuel Eathington, age 55, was named Executive Vice President, Chief Technology and Digital Officer of Corteva effective April 2022, where he is responsible for leading the company’s global research and development organization, building and expanding its industry-leading pipeline, and overseeing all aspects of Corteva’s digital farming strategy and investments. He joined Corteva in November 2020 and served as senior vice president, chief technology officer from January 2021 until April 2022. A recognized leader in agricultural innovation, Dr. Eathington served as chief science officer of The Climate Corporation (part of the crop science division of Bayer AG) from December 2015 until April 2020. Prior to assuming that role, Dr. Eathington spent 19 years with Monsanto Corporation, rising through the ranks in quantitative traits and molecular breeding to become vice president, global plant breeding beginning in February 2011.

Cornel B. Fuerer, age 57, was named Senior Vice President, General Counsel and Secretary of Corteva effective May 2019, where he is responsible for legal, compliance, and public affairs. Mr. Fuerer previously served as general counsel of the agriculture division of DowDuPont Inc. since June 2018 and prior to that served as associate general counsel supporting the agriculture division of DowDuPont after their merger in September 2017. From 2013 to 2017, he served as associate general counsel of DuPont with responsibility for the legal affairs of DuPont’s agriculture business and from 2012 to 2013 he served as the corporate secretary of DuPont. From 2007 to 2012, Mr. Fuerer served as the vice president, general counsel and company secretary of Solae, a food ingredients joint venture between DuPont and Bunge. After joining DuPont in 1995 as an attorney in Geneva, Switzerland, he served in various legal roles in Hong Kong and Wuppertal, Germany until his appointment at Solae in 2007.

Audrey Grimm, age 43, was named Senior Vice President and Chief Human Resources and Diversity Officer of Corteva effective March 2022. Since 2021 she served as Vice President, Europe, Middle East and Africa (EMEA) HR, with added responsibility for the company’s global culture and Inclusion, Diversity & Equity efforts, and before that as HR Director for the EMEA region from 2017 to 2021. Ms. Grimm spent her early career with Dow Chemical, where she held series of progressive HR roles leading to her appointment as Vice President, HR of the Agricultural division of Dow Chemical in 2015.

Brian Titus, age 51, was named Vice President, Controller and Principal Accounting Officer of Corteva effective May 2019. Mr. Titus previously served as the controller and principal accounting officer of the agriculture division of DowDuPont Inc. since February 2019. Prior to this, he was general auditor of DuPont since August 2015 and previously served as the director of corporate accounting from 2014 to 2015 and global finance leader of DuPont Crop Protection from 2013 to 2014. Prior to joining DuPont’s corporate accounting group in 2010, he spent 14 years in public accounting, primarily with PricewaterhouseCoopers LLP, providing audit and transactional support services. Mr. Titus is a certified public accountant.

ITEM 11.  EXECUTIVE COMPENSATION

Information related to executive compensation and the company's equity compensation plans is contained in the definitive Proxy Statement for the 2024 Annual Meeting of Stockholders of Corteva, Inc. and is incorporated herein by reference.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Information with respect to beneficial ownership of Corteva, Inc. common stock by each director, executive officer, and all directors and executive officers of the Company as a group is contained in the definitive Proxy Statement for the 2024 Annual Meeting of Stockholders of Corteva, Inc. and is incorporated herein by reference.

Information relating to any person who beneficially owns in excess of 5 percent of the total outstanding shares of Corteva, Inc. common stock is contained in the definitive Proxy Statement for the 2024 Annual Meeting of Stockholders of Corteva, Inc. and is incorporated herein by reference.

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Information with respect to compensation plans under which equity securities are authorized for issuance is contained in the definitive Proxy Statement for the 2024 Annual Meeting of Stockholders of Corteva, Inc. and is incorporated herein by reference.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Information with respect to this Item is incorporated herein by reference to the definitive Proxy Statement for the 2024 Annual Meeting of Stockholders of Corteva, Inc., including information within the sections entitled, "Certain Relationships and Related Transactions", and "Director Independence."

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

Information with respect to this Item is incorporated herein by reference to the definitive Proxy Statement for the 2024 Annual Meetings of Stockholders of Corteva, Inc., including information within the section entitled, “Ratification of Independent Registered Public Accounting Firm.”

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ITEM 15.  EXHIBITS AND CONSOLIDATED FINANCIAL STATEMENT SCHEDULES

Financial Statements, Financial Statement Schedules and Exhibits:

1.Corteva Financial Statements (See the Index to the Consolidated Financial Statements on page F-1 of this report).

2.Corteva Financial Statement Schedule (presented below)

3.EIDP Financial Statements (Starting on page F-74 of this report).

4.EIDP Financial Statement Schedule (presented below)

Schedule II—Valuation and Qualifying Accounts (Corteva, Inc. and EIDP)

(Dollars in millions)

	For the Year Ended December 31,
	2023		2022		2021
Accounts Receivable—Allowance for Doubtful Receivables
Balance at beginning of period	$	194	$	210	$	208
Additions charged to expenses	24		3		6
Deductions from reserves1	(13)		(19)		(4)
Balance at end of period	$	205	$	194	$	210
Deferred Tax Assets—Valuation Allowance
Balance at beginning of period	$	342	$	366	$	453
Additions charged to expenses	225		87		97
Purchase Accounting Adjustments	8		—		—
Deductions from reserves2	(65)		(111)		(184)
Balance at end of period	$	510	$	342	$	366

1.    Deductions include write-offs, recoveries collected and currency translation adjustments.

2.     Deductions include currency translation adjustments.

Financial Statement Schedules listed under the Securities and Exchange Commission ("SEC") rules but not included in this report are omitted because they are not applicable or the required information is shown in the Consolidated Financial Statements or notes thereto.

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ITEM 15.  EXHIBITS AND FINANCIAL STATEMENT SCHEDULES, continued

5.Exhibits

The following list of exhibits includes both exhibits submitted with this Form 10-K as filed with the SEC and those incorporated by reference to other filings:

Exhibit Number	Description
2.1	Separation and Distribution Agreement by and among DuPont Inc., Dow Inc. and Corteva, Inc. (incorporated by reference to Exhibit No. 2.1 to Amendment 3 to Corteva’s Registration Statement on Form 10 (Commission file number 001-38710), filed on April 16, 2019).
3.1	Amended and Restated Certificate of Incorporation of Corteva, Inc. (incorporated by reference to Exhibit No. 3.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on June 3, 2019.
3.2	Amended and Restated Bylaws of Corteva, Inc. (incorporated by reference to Exhibit No. 3.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on October 10, 2019.
3.3	Amended and Restated Certificate of Incorporation of EIDP, Inc. (incorporated by reference to Exhibit No. 3.3 to Corteva’s and EIDP’s Quarterly Report on Form 10-Q (Commission file numbers 001-38710 and 001-00815), filed on May 4, 2023)
3.4	Amended and Restated Bylaws of EIDP, Inc. (incorporated by reference to Exhibit 3.2 to EIDP's Current Report on Form 8-K (Commission file number 1-815) dated September 1, 2017).
4.1	Description of Corteva, Inc. registered securities (incorporated by reference from Exhibit 4.1 to the Company’s Annual Report on Form 10-K (Commission file number 001-38710) filed February 14, 2020).
4.2	Description of E. I. du Pont de Nemours and Company registered securities (incorporated by reference from Exhibit 4.2 to the Company’s Annual Report on Form 10-K (Commission file number 001-38710) filed February 14, 2020).
10.1*	Amended and Restated Tax Matters Agreement, effective as of June 1, 2019 by and among DowDuPont Inc., Dow Inc. and Corteva, Inc. (incorporated by reference to Exhibit 10.3 of Corteva’s Current Report on Form 8-K (Commission file number 001-38710) filed on June 3, 2019).
10.2*	Employee Matters Agreement by and among DowDuPont Inc., Dow Inc., and Corteva, Inc. (incorporated by reference to Exhibit No. 10.2 to Amendment 3 to Corteva’s Registration Statement on Form 10 (Commission file number 001-38710), filed on April 16, 2019).
10.3*	SpecCo/AgCo Intellectual Property Cross-License Agreement, effective as of June 1, 2019, by and among DowDuPont Inc., Corteva, Inc. and the other parties identified therein (incorporated by reference to Exhibit 10.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on June 3, 2019).
10.4*	Intellectual Property Cross-License Agreement by and between Corteva, Inc. and Dow Inc. (incorporated by reference to Exhibit No. 10.4 to Amendment 3 to Corteva’s Registration Statement on Form 10 (Commission file number 001-38710), filed on April 16, 2019).
10.5	Corteva, Inc. 2019 Omnibus Incentive Plan. (incorporated by reference to Exhibit No. 10.5 to Corteva’s Registration Statement on Form 10 (Commission file number 001-38710), filed on May 6, 2019).
10.6	Separation Agreement by and between E. I. du Pont de Nemours and Company and The Chemours Company (incorporated by reference to Exhibit 2.1 to E. I. du Pont de Nemours and Company's Current Report on Form 8-K (Commission file number 1-815) dated July 8, 2015).
10.7	Amendment No. 1 to Separation Agreement by and between E. I. du Pont de Nemours and Company and The Chemours Company, dated August 24, 2017 (incorporated by reference to Exhibit 2.1 to E. I. du Pont de Nemours and Company's Current Report on Form 8-K (Commission file number 1-815) dated August 25, 2017).
10.8	Tax Matters Agreement by and between E. I. du Pont de Nemours and Company and The Chemours Company (incorporated by reference to Exhibit 2.2 to E. I. du Pont de Nemours and Company's Current Report on Form 8-K (Commission file number 1-815) dated July 8, 2015).
10.9	Amended and Restated Management Deferred Compensation Plan (incorporated by reference to Exhibit 10.1 to Corteva’s and EIDP’s Quarterly Report on Form 10-Q (Commission file numbers 001-38710 and 001-00815), filed on August 4, 2023).
10.10	The E. I. du Pont de Nemours and Company Stock Accumulation and Deferred Compensation Plan for Directors, (incorporated by reference to Exhibit 4.4 to DowDuPont Inc. Registration Statement on Form S-8 (Commission file number 333-220324) filed September 1, 2017.)
10.11	E. I. du Pont de Nemours and Company's Pension Restoration Plan, as last amended effective June 29, 2015 (incorporated by reference to Exhibit 10.3 to E. I. du Pont de Nemours and Company’s Quarterly Report on Form 10-Q (Commission file number 1-815) for the period ended June 30, 2015).
10.12	E. I. du Pont de Nemours and Company’s Rules for Lump Sum Payments, as last amended effective May 15, 2014 (incorporated by reference to Exhibit 10.4 to E. I. du Pont de Nemours and Company’s Quarterly Report on Form 10-Q (Commission file number 1-815) for the period ended June 30, 2015).
10.13	E. I. du Pont de Nemours and Company’s Retirement Savings Restoration Plan, as last amended effective May 15, 2014. (incorporated by reference to Exhibit 10.08 to E. I. du Pont de Nemours and Company’s Quarterly Report on Form 10-Q (Commission file number 1-815) for the period ended June 30, 2014).

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ITEM 15.  EXHIBITS AND FINANCIAL STATEMENT SCHEDULES, continued

10.14	E. I. du Pont de Nemours and Company’s Retirement Income Plan for Directors, as last amended January 2011 (incorporated by reference to Exhibit 10.9 to E. I. du Pont de Nemours and Company’s Quarterly Report on Form 10-Q (Commission file number 1-815) for the period ended March 31, 2012).
10.15	Supplemental Agreement to the Memorandum of Understanding between The Chemours Company, Corteva, Inc., E. I. du Pont de Nemours and Company and DuPont de Nemours, Inc., dated September 5, 2023 (incorporated by reference to Exhibit 10.1 to Corteva’s Quarterly Report on Form 10-Q (Commission file number 001-38710), filed on November 9, 2023).
10.16	Corteva, Inc. Severance Plan (incorporated by reference to Exhibit 10.2 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on October 28, 2021).
10.17*	Letter Agreement effective as of June 1, 2019 by and between DowDuPont Inc. and Corteva, Inc. (incorporated by reference to Exhibit 10.2 to Corteva's Current Report on Form 8-K (Commission file number 001-38710) filed June 3, 2019)
10.18*	Memorandum of Understanding, dated January 22, 2021, by and among The Chemours Company, Corteva, Inc., E. I. du Pont de Nemours and Company and DuPont de Nemours, Inc. (incorporated by reference from the Form 8-K (Commission file number 001-38710) filed January 22, 2021)
10.19	Form of Award Terms for Options granted under the Corteva, Inc. 2019 Omnibus Incentive Plan for U.S. grantees (incorporated by reference from Exhibit 10.2 to the Company’s Quarterly Report Form 10-Q (Commission file number 001-38710) filed May 7, 2020).
10.20	Form of Award Terms for Performance Stock Units granted under the Corteva, Inc. 2019 Omnibus Incentive Plan for U.S. grantees (incorporated by reference from Exhibit 10.3 to the Company’s Quarterly Report Form 10-Q (Commission file number 001-38710) filed May 5, 2022).
10.21	Form of Award Terms for Restricted Stock Units granted under the Corteva, Inc. 2019 Omnibus Incentive Plan for U.S. grantees (incorporated by reference from Exhibit 10.1 to the Company’s Quarterly Report Form 10-Q (Commission file number 001-38710) filed May 5, 2022).
10.22	Form of Special CFO RSU Agreement (incorporated by reference from Exhibit 10.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710) filed April 6, 2021).
10.23	Corteva, Inc. Global Omnibus Employee Stock Purchase Plan (incorporated by reference from Exhibit 4.3 to Corteva’s Registration Statement on Form S-8 (Commission file number 333-249887), filed November 5, 2020).
10.24	Amendment to EIDP, Inc.’s Retirement Savings Restoration Plan. (incorporated by reference to Exhibit No. 10.2 to Corteva’s and EIDP’s Quarterly Report on Form 10-Q (Commission file numbers 001-38710 and 001-00815), filed on August 4, 2023
21	Subsidiaries of the Registrant.
23.1	Consent of Independent Registered Public Accounting Firm, PricewaterhouseCoopers LLP - Corteva, Inc.
23.2	Consent of Independent Registered Public Accounting Firm, PricewaterhouseCoopers LLP - EIDP, Inc.
31.1	Rule 13a-14(a)/15d-14(a) Certification of the company’s and EIDP’s Principal Executive Officer.
31.2	Rule 13a-14(a)/15d-14(a) Certification of the company’s and EIDP’s Principal Financial Officer.
32.1	Section 1350 Certification of the company’s and EIDP’s Principal Executive Officer. The information contained in this Exhibit shall not be deemed filed with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the registrant under the Securities Act of 1933, as amended.
32.2	Section 1350 Certification of the company’s and EIDP’s Principal Financial Officer. The information contained in this Exhibit shall not be deemed filed with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the registrant under the Securities Act of 1933, as amended.
97	Corteva, Inc. Clawback Policy
101.INS	XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH	Inline XBRL Taxonomy Extension Schema Document
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document
104	Cover Page Interactive Data File – The Cover Page XBRL tags are embedded within the Inline XBRL document (included in Exhibit 101.INS)

* Upon request of the U.S. Securities and Exchange Commission (the "SEC"), Corteva hereby undertakes to furnish supplementally a copy of any omitted schedule or exhibit to such agreement; provided, however, that Corteva may omit confidential information pursuant to Item 601(b)(10) or request confidential treatment pursuant to Rule 24b-2 of the Exchange Act of any schedule or exhibit so furnished.

70

Corteva 

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

February 8, 2024
	Corteva, Inc.
	By:	/s/ Brian Titus
		Brian Titus Vice President, Controller (Principal Accounting Officer)

_____________________________________________

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant in the capacities and on the dates indicated:

71

Signature	Title(s)	Date
/s/ Charles V. Magro	Chief Executive Officer and Director (Principal Executive Officer)	February 8, 2024
Charles V. Magro
/s/ Gregory R. Page	Non-Executive Chairman of the Board of Directors and Director	February 8, 2024
Gregory R. Page
/s/ Lamberto Andreotti	Director	February 8, 2024
Lamberto Andreotti
/s/ David C. Everitt	Director	February 8, 2024
David C. Everitt
/s/ Klaus A. Engel	Director	February 8, 2024
Klaus A. Engel
/s/ Michael O. Johanns	Director	February 8, 2024
Michael O. Johanns
/s/ Janet P. Giesselman	Director	February 8, 2024
Janet P. Giesselman
/s/ Karen H. Grimes	Director	February 8, 2024
Karen H. Grimes
/s/ Rebecca B. Liebert	Director	February 8, 2024
Rebecca B. Liebert
/s/ Marcos M. Lutz	Director	February 8, 2024
Marcos M. Lutz
/s/ Nayaki R. Nayyar	Director	February 8, 2024
Nayaki R. Nayyar
/s/ Kerry J. Preete	Director	February 8, 2024
Kerry J. Preete
/s/ Patrick J. Ward	Director	February 8, 2024
Patrick J. Ward
/s/ David J. Anderson	Executive Vice President and Chief Financial Officer (Principal Financial Officer)	February 8, 2024
David J. Anderson

72

EIDP, Inc.

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

February 8, 2024
	EIDP, Inc.
	By:	/s/ Brian Titus
		Brian Titus Vice President, Controller (Principal Accounting Officer)

_____________________________________________

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant in the capacities and on the dates indicated:

Signature	Title(s)	Date
/s/ Charles V. Magro	Chief Executive Officer and Director (Principal Executive Officer)	February 8, 2024
Charles V. Magro
/s/ David J. Anderson	Executive Vice President, Chief Financial Officer and Director (Principal Financial Officer)	February 8, 2024
David J. Anderson

73

Corteva, Inc.

Index to the Consolidated Financial Statements

	Page(s)
Management's Reports on Responsibility for Financial Statements and Internal Control over Financial Reporting	F-2
Report of Independent Registered Public Accounting Firm (PCAOB ID 238)	F-3
Consolidated Financial Statements:
Consolidated Statements of Operations for the years ended December 31, 2023, 2022, and 2021	F-5
Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022, and 2021	F-6
Consolidated Balance Sheets as of December 31, 2023 and 2022	F-7
Consolidated Statements of Cash Flows for the years ended December 31, 2023, 2022, and 2021	F-8
Consolidated Statements of Equity for the years ended December 31, 2023, 2022, and 2021	F-9
Notes to the Consolidated Financial Statements	F-10

F-1

Management's Reports on Responsibility for Financial Statements and

Internal Control over Financial Reporting

Management's Report on Responsibility for Financial Statements

Management is responsible for the Consolidated Financial Statements and the other financial information contained in this Annual Report on Form 10-K. The financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") and are considered by management to present fairly the company's financial position, results of operations and cash flows. The financial statements include some amounts that are based on management's best estimates and judgments. The financial statements have been audited by the company's independent registered public accounting firm, PricewaterhouseCoopers LLP. The purpose of their audit is to express an opinion as to whether the Consolidated Financial Statements included in this Annual Report on Form 10-K present fairly, in all material respects, the company's financial position, results of operations and cash flows in conformity with GAAP. Their report is presented on the following pages.

Management's Report on Internal Control over Financial Reporting

Management is responsible for establishing and maintaining an adequate system of internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. The company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. The company's internal control over financial reporting includes those policies and procedures that:

i.pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;

ii.provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles and that receipts and expenditures of the company are being made only in accordance with authorization of management and directors of the company; and

iii.provide reasonable assurance regarding prevention or timely detection of unauthorized acquisitions, use or disposition of the company's assets that could have a material effect on the financial statements.

Internal control over financial reporting has certain inherent limitations which may not prevent or detect misstatements. In addition, changes in conditions and business practices may cause variation in the effectiveness of internal controls.

Management assessed the effectiveness of the company's internal control over financial reporting as of December 31, 2023, based on criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in Internal Control-Integrated Framework (2013). Based on its assessment and those criteria, management concluded that the company maintained effective internal control over financial reporting as of December 31, 2023. Management’s assessment of the effectiveness of the company’s internal control over financial reporting as of December 31, 2023 excluded the Stoller and Symborg acquisitions, which were completed in March 2023. Total assets, excluding goodwill and other intangible assets, and net sales of Stoller and Symborg represent approximately 1 percent and 2 percent, respectively, of the company’s consolidated assets and net sales, as of and for the year ended December 31, 2023. This exclusion is in accordance with the guidelines established by the Securities and Exchange Commission.

PricewaterhouseCoopers LLP, an independent registered public accounting firm, has audited the effectiveness of the company's internal control over financial reporting as of December 31, 2023, as stated in their report, which is presented on the following pages.

Charles V. Magro
Chief Executive Officer and Director David J. Anderson
Executive Vice President and
Chief Financial Officer

February 8, 2024

F-2

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Stockholders of Corteva, Inc.

Opinions on the Financial Statements and Internal Control over Financial Reporting

We have audited the accompanying consolidated balance sheets of Corteva, Inc. and its subsidiaries (the “Company”) as of December 31, 2023 and 2022, and the related consolidated statements of operations, comprehensive income (loss), equity and cash flows for each of the three years in the period ended December 31, 2023, including the related notes and schedule of valuation and qualifying accounts for each of the three years in the period ended December 31, 2023 appearing under Item 15 (collectively referred to as the “consolidated financial statements”). We also have audited the Company's internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2023 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO.

Basis for Opinions

The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Control over Financial Reporting. Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.

Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

As described in Management’s Report on Internal Control over Financial Reporting, management has excluded the Stoller Group, Inc. (“Stoller”) and Quorum Vital Investment, S.L. and its affiliates (“Symborg”) businesses from its assessment of internal control over financial reporting as of December 31, 2023 because they were acquired by the Company in purchase business combinations during 2023. We have also excluded the Stoller and Symborg businesses from our audit of internal control over financial reporting. These businesses, each of which is wholly owned, comprised, in the aggregate, total assets excluding goodwill and other intangible assets, and total net sales excluded from management’s assessment and our audit of internal control over financial reporting of approximately 1 percent and 2 percent, respectively, of the related consolidated financial statement amounts as of and for the year ended December 31, 2023.

Definition and Limitations of Internal Control over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit

F-3

preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Critical Audit Matters

The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Goodwill (Seed Reporting Unit) Impairment Assessment

As described in Notes 2 and 13 to the consolidated financial statements, the Company’s consolidated goodwill balance was $10.6 billion as of December 31, 2023, and the goodwill associated with the seed reporting unit was $5.4 billion. Management tests goodwill for impairment at the reporting unit level at least annually, or more frequently when events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit has declined below its carrying value. Management performs an annual goodwill impairment test in the fourth quarter. If management chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required. Management performed quantitative testing on its seed reporting unit and determined that no goodwill impairment existed in 2023. Management determined fair value for the seed reporting unit using a discounted cash flow model. Management’s significant assumptions in this analysis included future cash flow projections, the weighted average cost of capital, the terminal growth rate, and the tax rate.

The principal considerations for our determination that performing procedures relating to the seed reporting unit goodwill impairment assessment is a critical audit matter are (i) the significant judgment by management when developing the fair value of the seed reporting unit; (ii) a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management’s significant assumptions related to projected revenue, the weighted average cost of capital, and the terminal value; and (iii) the audit effort involved the use of professionals with specialized skill and knowledge.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to management’s goodwill impairment assessment, including controls over the valuation of the seed reporting unit. These procedures also included, among others, (i) testing management’s process for developing the fair value estimate; (ii) evaluating the appropriateness of the discounted cash flow model; (iii) testing the completeness, accuracy, and relevance of underlying data used in the discounted cash flow model; and (iv) evaluating the reasonableness of significant assumptions used by management related to projected revenue, the weighted average cost of capital, and the terminal value. Evaluating management’s assumptions related to projected revenue and the terminal value involved evaluating whether the assumptions used by management were reasonable considering (i) the current and past performance of the reporting unit; (ii) the consistency with external market and industry data; and (iii) whether the assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were used to assist in the evaluation of the Company’s discounted cash flow model and the weighted average cost of capital and terminal value assumptions.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

February 8, 2024

We have served as the Company’s or its predecessor's auditor since 1946.

F-4

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)	For the Year Ended December 31,
	2023		2022		2021
Net sales	$	17,226	$	17,455	$	15,655
Cost of goods sold	9,920		10,436		9,220
Research and development expense	1,337		1,216		1,187
Selling, general and administrative expenses	3,176		3,173		3,209
Amortization of intangibles	683		702		722
Restructuring and asset related charges - net	336		363		289
Other income (expense) - net	(448)		(60)		1,348
Interest expense	233		79		30
Income (loss) from continuing operations before income taxes	1,093		1,426		2,346
Provision for (benefit from) income taxes on continuing operations	152		210		524
Income (loss) from continuing operations after income taxes	941		1,216		1,822
Income (loss) from discontinued operations after income taxes	(194)		(58)		(53)
Net income (loss)	747		1,158		1,769
Net income (loss) attributable to noncontrolling interests	12		11		10
Net income (loss) attributable to Corteva	$	735	$	1,147	$	1,759
Basic earnings (loss) per share of common stock:
Basic earnings (loss) per share of common stock from continuing operations	$	1.31	$	1.67	$	2.46
Basic earnings (loss) per share of common stock from discontinued operations	(0.27)		(0.08)		(0.07)
Basic earnings (loss) per share of common stock	$	1.04	$	1.59	$	2.39
Diluted earnings (loss) per share of common stock:
Diluted earnings (loss) per share of common stock from continuing operations	$	1.30	$	1.66	$	2.44
Diluted earnings (loss) per share of common stock from discontinued operations	(0.27)		(0.08)		(0.07)
Diluted earnings (loss) per share of common stock	$	1.03	$	1.58	$	2.37

See Notes to the Consolidated Financial Statements beginning on page F-10.

F-5

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Net income (loss)	$	747	$	1,158	$	1,769
Other comprehensive income (loss) - net of tax:
Cumulative translation adjustments	425		(340)		(573)
Adjustments to pension benefit plans	(190)		233		1,037
Adjustments to other benefit plans	29		191		(621)
Unrealized gain (loss) on investments	—		—		10
Derivative instruments	(135)		8		139
Total other comprehensive income (loss)	129		92		(8)
Comprehensive income (loss)	876		1,250		1,761
Comprehensive income (loss) attributable to noncontrolling interests - net of tax	12		11		10
Comprehensive income (loss) attributable to Corteva	$	864	$	1,239	$	1,751

See Notes to the Consolidated Financial Statements beginning on page F-10.

F-6

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED BALANCE SHEETS

(In millions, except share and per share amounts)	December 31, 2023		December 31, 2022
Assets
Current assets
Cash and cash equivalents	$	2,644	$	3,191
Marketable securities	98		124
Accounts and notes receivable - net	5,488		5,701
Inventories	6,899		6,811
Other current assets	1,131		968
Total current assets	16,260		16,795
Investment in nonconsolidated affiliates	115		102
Property, plant and equipment	8,956		8,551
Less: Accumulated depreciation	4,669		4,297
Net property, plant and equipment	4,287		4,254
Goodwill	10,605		9,962
Other intangible assets	9,626		9,339
Deferred income taxes	584		479
Other assets	1,519		1,687
Total Assets	$	42,996	$	42,618
Liabilities and Equity
Current liabilities
Short-term borrowings and finance lease obligations	$	198	$	24
Accounts payable	4,280		4,895
Income taxes payable	174		183
Deferred revenue	3,406		3,388
Accrued and other current liabilities	2,351		2,254
Total current liabilities	10,409		10,744
Long-term debt	2,291		1,283
Other noncurrent liabilities
Deferred income tax liabilities	899		1,119
Pension and other post-employment benefits	2,467		2,255
Other noncurrent obligations	1,651		1,676
Total noncurrent liabilities	7,308		6,333
Commitments and contingent liabilities
Stockholders’ equity
Common stock, $0.01 par value; 1,666,667,000 shares authorized; issued at December 31, 2023 - 701,260,000 and December 31, 2022 - 713,419,000	7		7
Additional paid-in capital	27,748		27,851
Retained earnings (accumulated deficit)	(41)		250
Accumulated other comprehensive income (loss)	(2,677)		(2,806)
Total Corteva stockholders’ equity	25,037		25,302
Noncontrolling interests	242		239
Total equity	25,279		25,541
Total Liabilities and Equity	$	42,996	$	42,618

See Notes to the Consolidated Financial Statements beginning on page F-10.

F-7

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Operating activities
Net income (loss)	$	747	$	1,158	$	1,769
(Income) loss from discontinued operations after income taxes	194		58		53
Adjustments to reconcile net income (loss) to cash provided by (used for) operating activities:
Depreciation and amortization	1,211		1,223		1,243
Provision for (benefit from) deferred income tax	(438)		(288)		199
Net periodic pension and OPEB (credits) costs	138		(142)		(1,292)
Pension and OPEB contributions	(149)		(182)		(247)
Net (gain) loss on sales of property, businesses, consolidated companies, and investments	(22)		(18)		(21)
Restructuring and asset related charges - net	336		363		289
Other net loss	578		305		154
Changes in assets and liabilities, net
Accounts and notes receivable	358		(993)		(113)
Inventories	57		(1,715)		(422)
Accounts payable	(663)		807		526
Deferred revenue	(11)		194		574
Other assets and liabilities	(527)		142		57
Cash provided by (used for) operating activities - continuing operations	1,809		912		2,769
Cash provided by (used for) operating activities - discontinued operations	(40)		(40)		(42)
Cash provided by (used for) operating activities	1,769		872		2,727
Investing activities
Capital expenditures	(595)		(605)		(573)
Proceeds from sales of property, businesses, and consolidated companies - net of cash divested	57		73		75
Acquisitions of businesses - net of cash acquired	(1,456)		—		—
Escrow funding associated with acquisitions	—		(36)		—
Investments in and loans to nonconsolidated affiliates	(32)		(12)		(4)
Purchases of investments	(148)		(344)		(204)
Proceeds from sales and maturities of investments	147		295		345
Proceeds from settlement of net investment hedge	42		—		—
Other investing activities, net	(2)		(3)		(1)
Cash provided by (used for) investing activities	(1,987)		(632)		(362)
Financing activities
Net change in borrowings (less than 90 days)	(6)		(13)		13
Proceeds from debt	3,429		1,358		419
Payments on debt	(2,309)		(1,140)		(421)
Repurchase of common stock	(756)		(1,000)		(950)
Proceeds from exercise of stock options	31		88		100
Dividends paid to stockholders	(439)		(418)		(397)
Other financing activities, net	(49)		(55)		(30)
Cash provided by (used for) financing activities	(99)		(1,180)		(1,266)
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents	(143)		(278)		(136)
Increase (decrease) on cash, cash equivalents and restricted cash equivalents	(460)		(1,218)		963
Cash, cash equivalents and restricted cash equivalents at beginning of period	3,618		4,836		3,873
Cash, cash equivalents and restricted cash equivalents at end of period1	$	3,158	$	3,618	$	4,836
Supplemental cash flow information
Cash paid during the period for
Interest, net of amounts capitalized	$	234	$	75	$	30
Income taxes	535		467		341

1. See page F-26 for reconciliation of cash and cash equivalents and restricted cash equivalents presented in the Consolidated Balance Sheets to total cash, cash equivalents and restricted cash equivalents presented in the Consolidated Statements of Cash Flows.

See Notes to the Consolidated Financial Statements beginning on page F-10.

F-8

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF EQUITY

(In millions)	Common Stock		Additional Paid-in Capital "APIC"		Retained Earnings (Accum Deficit)		Accumulated Other Comp Income (Loss)		Non-controlling Interests		Total Equity
Balance at January 1, 2021	$	7	$	27,707	$	—	$	(2,890)	$	239	$	25,063
Net income (loss)					1,759				10		1,769
Other comprehensive income (loss)							(8)				(8)
Share-based compensation			59		(3)						56
Common dividends ($0.54 per share)			(97)		(300)						(397)
Repurchase of common stock			(18)		(932)						(950)
Issuance of Corteva stock			100								100
Other - net									(10)		(10)
Balance at December 31, 2021	$	7	$	27,751	$	524	$	(2,898)	$	239	$	25,623
Net income (loss)					1,147				11		1,158
Other comprehensive income (loss)							92				92
Share-based compensation			12		(2)						10
Common dividends ($0.58 per share)					(418)						(418)
Repurchase of common stock					(1,000)						(1,000)
Issuance of Corteva stock			88								88
Other - net					(1)				(11)		(12)
Balance at December 31, 2022	$	7	$	27,851	$	250	$	(2,806)	$	239	$	25,541
Net income (loss)					735				12		747
Other comprehensive income (loss)							129				129
Share-based compensation			28		(2)						26
Common dividends ($0.62 per share)					(439)						(439)
Repurchase of common stock			(171)		(585)						(756)
Issuance of Corteva stock			40								40
Other - net									(9)		(9)
Balance at December 31, 2023	$	7	$	27,748	$	(41)	$	(2,677)	$	242	$	25,279

See Notes to the Consolidated Financial Statements beginning on page F-10.

F-9

Corteva, Inc.

Notes to the Consolidated Financial Statements

Table of Contents

Note		Page
1	Background and Basis of Presentation	F-11
2	Summary of Significant Accounting Policies	F-12
3	Recent Accounting Guidance	F-17
4	Business Combinations	F-18
5	Revenue	F-19
6	Restructuring and Asset Related Charges - Net	F-22
7	Supplementary Information	F-25
8	Income Taxes	F-26
9	Earnings Per Share of Common Stock	F-30
10	Accounts and Notes Receivable - Net	F-31
11	Inventories	F-32
12	Property, Plant and Equipment	F-32
13	Goodwill and Other Intangible Assets	F-32
14	Leases	F-34
15	Short-Term Borrowings, Long-Term Debt and Available Credit Facilities	F-35
16	Commitments and Contingent Liabilities	F-37
17	Stockholders' Equity	F-46
18	Pension Plans and Other Post-Employment Benefits	F-49
19	Stock-Based Compensation	F-58
20	Financial Instruments	F-60
21	Fair Value Measurements	F-65
22	Geographic Information	F-66
23	Segment Information	F-67

F-10

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 1 - BACKGROUND AND BASIS OF PRESENTATION

Corteva, Inc. is a leading global provider of seed and crop protection solutions focused on the agriculture industry. The company intends to leverage its rich heritage of scientific achievement to advance its robust innovation pipeline and continue to shape the future of responsible agriculture. The company's broad portfolio of agriculture solutions fuels farmer productivity around the globe. Corteva has two reportable segments: seed and crop protection. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information on the company's reportable segments.

Throughout these financial statements, except as otherwise noted by the context, the terms "Corteva" or "company" used herein mean Corteva, Inc. and its consolidated subsidiaries (including EIDP) and the term “EIDP” used herein means EIDP, Inc. (formerly known as E. I. du Pont de Nemours and Company) and its consolidated subsidiaries or EIDP, Inc. excluding its consolidated subsidiaries, as the context may indicate.

Principles of Consolidation and Basis of Presentation

The consolidated financial statements contained in this Annual Report were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for all periods presented and include the accounts of the company, its majority owned subsidiaries over which the company exercises control. The Consolidated Financial Statements and other financial information included in this Annual Report, unless otherwise specified, have been presented to separately show the effects of discontinued operations.

The company made the decision, which was retrospectively applied, to adjust the presentation of the Consolidated Statement of Cash Flows to separately show the cash provided by (used for) operating activities – discontinued operations, which was previously presented within cash provided by (used for) operating activities. See Note 16 – Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information on discontinued operations activities.

On June 1, 2019, Corteva, Inc. became an independent, publicly traded company through the completed separation (the “Separation”) of the agriculture business of DuPont de Nemours, Inc. (formerly known as DowDuPont Inc.) (“DowDuPont” or “DuPont”). The separation was effectuated through a pro rata distribution (the “Corteva Distribution”) of all of the then-issued and outstanding shares of common stock of Corteva, Inc.

Subsequent to the Merger, Historical Dow and EIDP engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups: agriculture, materials science and specialty products ("Internal Reorganization"). On April 1, 2019, DowDuPont completed the separation of its materials science business into a separate and independent public company by way of a distribution of Dow common stock to holders of DowDuPont's common stock (the “Dow Distribution” and together with the Corteva Distribution, the “Distributions”).

On April 1, 2019, Historical Dow entities, which held certain assets and liabilities aligned with Historical Dow’s agriculture business and the assets and liabilities associated with its specialty products business, respectively, were transferred and conveyed to DowDuPont.

On April 1, 2019 and May 1, 2019, EIDP’s materials science and specialty products entities, along with their respective assets and liabilities, were conveyed to Dow and DowDuPont, respectively. On May 2, 2019, DowDuPont conveyed Historical Dow agricultural entities to EIDP.

On May 6, 2019, the Board of Directors of DowDuPont approved the distribution of all the then issued and outstanding shares of common stock of Corteva, Inc., then a wholly-owned subsidiary of DowDuPont, to DowDuPont stockholders. On May 31, 2019, DowDuPont contributed EIDP to Corteva, Inc. and on June 1, 2019, the Separation was completed. Information related to the Corteva Distribution and its effect on the company's financial statements is discussed throughout these Notes to the Consolidated Financial Statements.

Since 2018, Argentina has been considered a hyper-inflationary economy under U.S. GAAP and therefore the U.S. Dollar (“USD”) is the functional currency for our related subsidiaries. Argentina contributes 4 percent and 3 percent to the company's annual net sales and segment operating EBITDA, respectively. The company remeasures net monetary assets and translates the financial statements utilizing the official Argentine Peso (“Peso”) to USD exchange rate. The ability to draw down Peso cash balances is limited at this time due to government restrictions and market availability of U.S. Dollars. The devaluation of the Peso relative to the USD over the last several years has resulted in the recognition of exchange losses (refer to Note 7 – Supplementary Information, to the Consolidated Financial Statements). As of December 31, 2023, a further 10 percent deterioration in the official Peso to USD exchange rate would reduce the USD value of our net monetary assets and negatively

F-11

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

impact pre-tax earnings by approximately $10 million. The company will continue to assess the implications to its operations and financial reporting.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Consolidated Financial Statements include the accounts of the company and subsidiaries in which a controlling interest is maintained. For those consolidated subsidiaries in which the company's ownership is less than 100 percent, the outside stockholders' interests are shown as noncontrolling interests. Investments in affiliates over which the company has the ability to exercise significant influence but does not have a controlling interest are accounted for under the equity method.

The company is also involved with certain joint ventures accounted for under the equity method of accounting that are variable interest entities ("VIEs"). The company is not the primary beneficiary, as the nature of the company's involvement with each VIE does not provide it the power to direct the VIE's significant activities. Future events may require these VIEs to be consolidated if the company becomes the primary beneficiary. At December 31, 2023 and 2022, the maximum exposure to loss related to the nonconsolidated VIEs is not considered material to the Consolidated Financial Statements.

Use of Estimates in Financial Statement Preparation

The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The company’s consolidated financial statements include amounts that are based on management’s best estimates and judgments. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash equivalents represent investments with maturities of three months or less from time of purchase. They are carried at cost plus accrued interest.

Restricted Cash Equivalents

Restricted cash equivalents primarily consist of trust assets and contributions to the escrow accounts for the settlement of certain legal matters and the settlement of legacy PFAS matters and the associated qualified spend. Corteva classifies restricted cash equivalents as current or noncurrent based on the nature of the restrictions, which are included in other current assets and other assets, respectively, in the Consolidated Balance Sheets. See Note 7 - Supplementary Information, to the Consolidated Financial Statements, for further information.

Marketable Securities

Marketable securities represent investments in fixed and floating rate financial instruments with maturities greater than three months and up to twelve months at time of purchase. Investments classified as held-to-maturity are recorded at amortized cost. The carrying value approximates fair value due to the short-term nature of the investments. Investments classified as debt securities that are available-for-sale are carried at estimated fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income (loss) or current period earnings if an allowance for credit losses has been established. The cost of investments sold is determined by specific identification.

Fair Value Measurements

Under the accounting guidance for fair value measurements and disclosures, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The company uses the following hierarchy to classify assets and liabilities measured at fair value:

Level 1	–	Quoted market prices in active markets for identical assets or liabilities.
Level 2	–	Significant other observable inputs (e.g., quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs).
Level 3	–	Unobservable inputs for the asset or liability, which are valued based on management's estimates of assumptions that market participants would use in pricing the asset or liability.

F-12

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Foreign Currency Translation

The company's worldwide operations utilize the USD or a related foreign currency as the functional currency, where applicable. The company identifies its separate and distinct foreign entities and groups the foreign entities into two categories: 1) extension of the parent or foreign subsidiaries operating in a hyper-inflationary environment (USD functional currency) and 2) self-contained (related foreign functional currency). If a foreign entity does not align with either category, factors are evaluated and a judgment is made to determine the functional currency. 

For foreign entities where the USD is the functional currency, all foreign currency-denominated asset and liability amounts are re-measured into USD at end-of-period exchange rates, except for inventories, prepaid expenses, property, plant and equipment, goodwill and other intangible assets, which are re-measured at historical rates. Foreign currency income and expenses are re-measured at average exchange rates in effect during each month, except for expenses related to balance sheet amounts re-measured at historical exchange rates. Exchange gains and losses arising from re-measurement of foreign currency-denominated monetary assets and liabilities are included in income in the period in which they occur.

For foreign entities where a related foreign currency is the functional currency, assets and liabilities denominated in the related foreign currencies are translated into USD at end-of-period exchange rates and the resultant translation adjustments are reported, net of their related tax effects, as a component of accumulated other comprehensive income (loss) in equity. Assets and liabilities denominated in other than the functional currency are re-measured into the functional currency prior to translation into USD and the resultant exchange gains or losses are included in income in the period in which they occur. Income and expenses are translated into USD at average exchange rates in effect during each month.

The company changes the functional currency of its separate and distinct foreign entities only when significant changes in economic facts and circumstances indicate clearly that the functional currency has changed.

Inventories

The company's inventories are valued at the lower of cost or net realizable value. Elements of cost in inventories include raw materials, direct labor and manufacturing overhead. Stores and supplies are valued at cost or net realizable value, whichever is lower; cost is generally determined by the average cost method.

As of December 31, 2023, approximately 60% and 40% of the company's inventories were accounted for under the first-in, first-out ("FIFO") and average cost methods, respectively. As of December 31, 2022, approximately 55% and 45% of the company's inventories were accounted for under the FIFO and average cost methods, respectively. Inventories accounted for under the FIFO method are primarily comprised of products with shorter shelf lives such as seeds. See Note 11 - Inventories, to the Consolidated Financial Statements, for further information.

The company establishes an obsolescence reserve for inventory based upon quality considerations and assumptions about future demand and market conditions.

Property, Plant and Equipment

Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is based on the estimated service lives of depreciable assets and is calculated using the straight-line method. Fully depreciated assets are retained in property and accumulated depreciation accounts until they are removed from service. When assets are surrendered, retired, sold, or otherwise disposed of, their gross carrying values and related accumulated depreciation are removed from the Consolidated Balance Sheets and included in determining gain or loss on such disposals. See Note 12 – Property, Plant and Equipment, to the Consolidated Financial Statements, for further information.

Goodwill and Other Intangible Assets

The company records goodwill when the purchase price of a business acquisition exceeds the estimated fair value of net identified tangible and intangible assets acquired. Goodwill is tested for impairment at the reporting unit level at least annually, or more frequently when events or changes in circumstances indicate that the fair value of a reporting unit has more likely than not declined below its carrying value. The company performs an annual goodwill impairment test in the fourth quarter.

When testing goodwill for impairment, the company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the company chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required. If additional quantitative testing is required, the reporting unit's fair value is compared with its carrying amount, and an impairment charge, if any, is recognized for the amount by which the carrying amount exceeds the reporting unit's fair value, limited to the amount of goodwill associated with the reporting unit. The company determines fair values for each of the reporting units using a

F-13

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

discounted cash flow model (a form of the income approach) or the market approach. Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. The company's significant assumptions in this analysis include future cash flow projections, weighted average cost of capital, the terminal growth rate, and the tax rate. Under the market approach, the company uses metrics of publicly traded companies or historically completed transactions for comparable companies. See Note 13 - Goodwill and Other Intangible Assets, to the Consolidated Financial Statements, for further information on goodwill.

Indefinite-lived intangible assets are tested for impairment at least annually; however, these tests are performed more frequently when events or changes in circumstances indicate that the asset may be impaired. Impairment exists when carrying value exceeds fair value. The company performs an impairment assessment using the multi-period excess earnings method (a form of the income approach) using Level 3 inputs within the fair value hierarchy. The significant assumptions used in the calculation include future cash flow projections, the discount rate, and the terminal growth rate. These significant assumptions involve management judgment and estimates relating to future operating performance and economic conditions that may differ from actual cash flows.

Definite-lived intangible assets are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging primarily from 2 years to 25 years. The company continually evaluates the reasonableness of the useful lives of these assets. Once these assets are no longer considered held and used, they are removed from the Consolidated Balance Sheets.

Acquisitions

Acquisitions are recorded using the acquisition method of accounting and recognizes and measures the identifiable assets acquired and liabilities assumed as of the acquisition date at fair value, where applicable. The excess, if any, of total consideration transferred in a business combination over the fair value of identifiable assets acquired and liabilities assumed is recognized as goodwill. Costs incurred as a result of a business combination other than costs related to the issuance of debt or equity securities are recorded in the period the costs are incurred. The company includes the operating results of acquired entities from their respective dates of acquisition.

Leases

The company determines whether an arrangement is a lease at the inception of the arrangement based on the terms and conditions in the contract. A contract contains a lease if there is an identified asset and the company has the right to control the asset. Operating lease right-of-use ("ROU") assets are included in other assets on the company’s Consolidated Balance Sheets. Operating lease liabilities are included in accrued and other current liabilities and other noncurrent obligations on the company’s Consolidated Balance Sheets. Finance lease assets are included in property, plant and equipment on the company’s Consolidated Balance Sheets. Finance lease liabilities are included in short-term borrowings and finance lease obligations and long-term debt on the company’s Consolidated Balance Sheets. 

Operating lease ROU assets represent the company’s right to use an underlying asset for the lease term and lease liabilities represent the company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the company’s leases do not provide the lessor's implicit rate, the company uses its incremental borrowing rate at the commencement date in determining the present value of lease payments. Lease terms include options to extend the lease when it is reasonably certain those options will be exercised. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The company recognizes lease expense for these leases on a straight-line basis over the lease term.

The company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all asset classes. In the Consolidated Statements of Operations, lease expense for operating leases is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. See Note 14 - Leases, to the Consolidated Financial Statements, for further information.

Impairment of Long-Lived Assets

The company evaluates the carrying value of long-lived assets to be held and used when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of a long-lived asset group is considered impaired when the total projected undiscounted cash flows from the assets are separately identifiable and are less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset group. The company's fair value methodology is an estimate of fair market value which is made based on prices of similar assets or other valuation methodologies including present value techniques. Long-lived assets to be disposed of by sale, if material, are classified as held for sale and reported at the lower of carrying amount or fair value less cost to sell, and depreciation is ceased. Long-lived assets to be disposed of other than by sale are classified as held and used until they are disposed of and reported at the lower of carrying amount or fair value. Depreciation is recognized over the remaining useful life of the assets.

F-14

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Derivative Instruments

Derivative instruments are reported in the Consolidated Balance Sheets at their fair values. The company utilizes derivatives to manage exposures to foreign currency exchange rates and commodity prices. Changes in the fair values of derivative instruments that are not designated as hedges are recorded in current period earnings. For derivative instruments designated as cash flow hedges, the gain (loss) is reported in accumulated other comprehensive income (loss) until it is cleared to earnings during the same period in which the hedged item affects earnings. For derivative instruments designated as net investment hedges, the gain (loss) is reported within accumulated other comprehensive income (loss) until the subsidiary is divested.

In the event that a derivative designated as a hedge of a firm commitment or an anticipated transaction is terminated prior to the maturation of the hedged transaction, the net gain or loss in accumulated other comprehensive income (loss) generally remains in accumulated other comprehensive income (loss) until the item that was hedged affects earnings. If a hedged transaction matures, or is sold, extinguished, or terminated prior to the maturity of a derivative designated as a hedge of such transaction, gains or losses associated with the derivative through the date the transaction matured are included in the measurement of the hedged transaction and the derivative is reclassified as for trading purposes. Derivatives designated as hedges of anticipated transactions are reclassified as for trading purposes if the anticipated transaction is no longer probable.

The company included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. See Note 20 - Financial Instruments, to the Consolidated Financial Statements, for additional discussion regarding the company's objectives and strategies for derivative instruments.

Environmental Matters

Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the Consolidated Balance Sheets in accrued and other current liabilities and other noncurrent obligations at undiscounted amounts. Accruals for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the Consolidated Balance Sheets as accounts and notes receivable - net.

Environmental costs are capitalized if the costs extend the life of the property, increase its capacity, and/or mitigate or prevent contamination from future operations. Environmental costs are also capitalized in recognition of legal asset retirement obligations resulting from the acquisition, construction and/or normal operation of a long-lived asset. Costs related to environmental contamination treatment and cleanup are charged to expense. Estimated future incremental operations, maintenance and management costs directly related to remediation are accrued when such costs are probable and reasonably estimable.

Revenue Recognition

The company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the company expects to receive in exchange for those goods or services. To determine the revenue recognition for an arrangement considered to be a contract with a customer, the company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 5 - Revenue, to the Consolidated Financial Statements, for additional information on revenue recognition.

Prepaid Royalties

The company currently has certain third-party biotechnology trait license agreements, which require up-front and variable payments subject to the licensor meeting certain conditions. These payments are reflected as other current assets and other assets in the Consolidated Balance Sheets and are amortized to cost of goods sold in the Consolidated Statement of Operations as seeds containing the respective trait technology are utilized over the life of the license. The rate of royalty amortization expense recognized is based on the company’s strategic plans which include various assumptions and estimates including product portfolio, market dynamics, farmer preferences, growth rates and projected planted acres. Changes in factors and assumptions included in the strategic plans, including potential changes to the product portfolio in favor of internally developed biotechnology, could impact the rate of recognition of the relevant prepaid royalty.

At December 31, 2023, the balance of prepaid royalties reflected in other current assets and other assets in the Consolidated Balance Sheets was approximately $105 million and $25 million, respectively. The majority of the balance of prepaid royalties in other current assets relates to the company’s wholly owned subsidiary, Pioneer Hi-Bred International, Inc.’s (“Pioneer”) non-exclusive license in the United States and Canada for the Monsanto Company's Genuity® Roundup Ready 2 Yield® glyphosate

F-15

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

tolerance trait and Roundup Ready 2 Xtend® glyphosate and dicamba tolerance trait for soybeans (“Roundup Ready 2 License Agreement”). Each of these licensed technologies are now trademarks of the Bayer Group, which acquired the Monsanto Company in 2018. The prepaid royalty asset relates to a series of up-front, fixed and variable royalty payments to utilize the traits in Pioneer’s soybean product mix. The company’s historical expectation was that the technology licensed under the Roundup Ready 2 License Agreement would be used as the primary herbicide tolerance trait platform in the Pioneer® brand soybean through the term of the agreement. DAS and MS Technologies, L.L.C. jointly developed and own the Enlist E3TM herbicide tolerance trait for soybeans which provides tolerance to 2, 4-D choline in Enlist Duo® and Enlist One® herbicides, as well as glyphosate and glufosinate herbicides. In connection with the validation of breeding plans and large-scale product development timelines, during 2019 the company committed to accelerate the ramp up of the Enlist E3TM trait platform in the company’s soybean portfolio mix across all brands, including Pioneer® brands. During the five-year ramp-up period, the company has began to significantly reduce the volume of products with the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits, with expected minimal use of the trait platform thereafter for the remainder of the Roundup Ready 2 License Agreement (the “Transition Plan”). The rate of royalty expense has therefore increased significantly through higher amortization of the prepaid royalty as fewer seeds containing the respective trait are expected to be utilized.

In connection with the departure from these traits, beginning January 1, 2020 the company presents and discloses the non-cash accelerated prepaid royalty amortization expense as a component of restructuring and asset related charges - net, in the Consolidated Statement of Operations. The accelerated prepaid royalty amortization expense represents the difference between the rate of amortization based on the revised number of units expected to contain the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® trait technology and the variable cash rate per the Roundup Ready 2 License Agreement.

Further changes in factors and assumptions associated with usage of the trait platform licensed under the Roundup Ready 2 License Agreement, including the Transition Plan, could further impact the rate of recognition of the prepaid royalty and Consolidated Statement of Operations presentation of the accelerated prepaid royalty amortization expense.

Cost of Goods Sold

Cost of goods sold primarily includes the cost of manufacture and delivery, ingredients or raw materials, direct salaries, wages and benefits and overhead, non-capitalizable costs associated with capital projects, royalties and other operational expenses. No amortization of intangibles is included within cost of goods sold.

Research and Development

Research and development costs are expensed as incurred. Research and development expense includes costs (primarily consisting of employee costs, materials, contract services, research agreements, and other external spend) relating to the discovery and development of new products.

Selling, General and Administrative Expenses

Selling, general and administrative expenses primarily include selling and marketing expenses, commissions, functional costs, and business management expenses.

Litigation and Other Contingencies

Accruals for legal matters and other contingencies are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Legal costs, such as outside counsel fees and expenses, are charged to expense in the period incurred.

Severance Costs

Severance benefits are provided to employees under the company's ongoing benefit arrangements. Severance costs are accrued when management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated.

Insurance/Self-Insurance

The company self-insures certain risks where permitted by law or regulation, including workers' compensation, vehicle liability and employee related benefits. Liabilities associated with these risks are estimated in part by considering historical claims experience, demographic factors and other actuarial assumptions. For other risks, the company uses a combination of insurance and self-insurance, reflecting comprehensive reviews of relevant risks. A receivable for an insurance recovery is generally recognized when the loss has occurred and collection is considered probable.

F-16

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Income Taxes

The company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities using enacted tax rates. The effect of a change in tax rates on deferred tax assets or liabilities is recognized in income in the period that includes the enactment date.

The company recognizes the financial statement effects of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. The current portion of uncertain income tax positions is included in income taxes payable or income tax receivable, and the long-term portion is included in other noncurrent obligations or other noncurrent assets in the Consolidated Balance Sheets.

Income tax related penalties are included in the provision for (benefit from) income taxes in the Consolidated Statements of Operations. Interest accrued related to unrecognized tax benefits is included within the provision for (benefit from) income taxes from continuing operations in the Consolidated Statements of Operations.

Earnings per Common Share

The calculation of earnings per common share is based on the weighted-average number of the company’s common shares outstanding for the applicable period. The calculation of diluted earnings per common share reflects the effect of all potential common shares that were outstanding during the respective periods, unless the effect of doing so is antidilutive.

NOTE 3 - RECENT ACCOUNTING GUIDANCE

Recently Adopted Accounting Guidance

In September 2022, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update ("ASU") 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. This ASU includes amendments that require a buyer in supplier finance programs to disclose key terms of the programs and related obligations, including a rollforward of such obligations. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the rollforward requirements, which are effective for fiscal years beginning after December 15, 2023, and early adoption is permitted. Retrospective application to all periods in which a balance sheet is presented is required, except for the rollforward requirement, which will be applied prospectively. The company adopted this guidance on January 1, 2023 which resulted in certain disclosures being added relating to supplier financing programs and related obligations. See Note 16 – Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information.

Accounting Guidance Issued But Not Adopted as of December 31, 2023

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as reconciling items that meet a quantitative threshold. Further, the ASU requires additional disclosures on income tax expense and taxes paid, net of refunds received, by jurisdiction. The new standard is effective for annual periods beginning after December 15, 2024 on a prospective basis with the option to apply it retrospectively. Early adoption is permitted. The adoption of this guidance will result in the company being required to include enhanced income tax related disclosures.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU includes amendments that expand the existing reportable segment disclosure requirements and requires disclosure of (i) significant expense categories and amounts by reportable segment as well as the segment’s profit or loss measure(s) that are regularly provided to the chief operating decision maker (the “CODM”) to allocate resources and assess performance; (ii) how the CODM uses each reported segment profit or loss measure to allocate resources and assess performance; (iii) the nature of other segment balances contributing to reported segment profit or loss that are not captured within segment revenues or expenses; and (iv) the title and position of the individual or name of the group or committee identified as the CODM. This guidance requires retrospective application to all prior periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The adoption of this guidance will result in the company being required to include enhanced disclosures relating to its reportable segments.

In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement. The amendments in this ASU are intended to facilitate consistency in the application of accounting guidance upon the formation of entities qualifying as joint ventures. It generally requires the use of business combinations accounting at the joint venture formation date, which would result in the contributed assets/liabilities being

F-17

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

revalued to fair value and potentially result in the recognition of goodwill and other intangibles on the joint venture’s financial statements. It does not alter the ongoing accounting for the joint venture’s operations. This guidance is effective for joint ventures with formation dates on or after January 1, 2025. Prospective application is required, with early adoption permitted. Retrospective application can be elected for joint ventures formed before January 1, 2025. The company does not expect the impact of adoption to be material.

NOTE 4 - BUSINESS COMBINATIONS

On March 1, 2023 ("Acquisition Date"), Corteva completed its previously announced acquisitions of all the outstanding equity interests in Stoller Group, Inc. (“Stoller”), one of the largest independent companies in the Biologicals industry, and Quorum Vital Investment, S.L. and its affiliates (“Symborg”), an expert in microbiological technologies. The purchase price for Stoller and Symborg was $1,220 million, inclusive of a working capital adjustment, and $370 million, respectively. These acquisitions supplement the crop protection business with additional biological tools that complement evolving farming practices.

The operating results of Stoller and Symborg, since the Acquisition Date, did not have a material impact to the company's Consolidated Financial Statements for the year ended December 31, 2023. Additionally, supplemental pro forma information have not been presented since the reported amounts in the company's Consolidated Financial Statements for the current period and comparative prior periods would not be materially different had these acquisitions occurred as of January 1, 2022.

Purchase Price Allocation

The company performed a preliminary purchase price allocation and assessment of the fair value of the assets acquired and liabilities assumed as of the Acquisition Date. The company continues to evaluate aspects of net working capital and income tax related amounts and will finalize the purchase price allocation as it obtains the information necessary to complete the valuation during the measurement period. The effect of measurement period adjustments to the estimated fair values will be reflected as if the adjustments had been completed on the Acquisition Date.

The following table summarizes the preliminary purchase price allocation to the assets acquired and liabilities assumed for the Stoller and Symborg acquisitions, as of the Acquisition Date:

(In millions)	Stoller1		Symborg1
Assets
Cash and cash equivalents	$	97	$	—
Accounts and notes receivable	243		17
Inventories	81		10
Other current assets	9		2
Property, plant and equipment	71		3
Goodwill	383		129
Other intangible assets	645		300
Deferred income taxes	10		—
Other assets	5		1
Total assets acquired	$	1,544	$	462
Liabilities
Short-term borrowings	59		—
Accounts payable	25		13
Income taxes payable	2		—
Accrued and other current liabilities	65		4
Long-term debt	2		—
Deferred income tax liabilities	150		74
Other noncurrent obligations	21		1
Total liabilities assumed	$	324	$	92
Net assets acquired	$	1,220	$	370

1.Includes preliminary measurement period adjustments, which were not material.

The significant fair value adjustments included in the preliminary purchase price allocation are discussed below.

F-18

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Inventories

Acquired inventories in connection with the acquisition of Stoller and Symborg are primarily comprised of finished goods and raw materials. The fair value of finished goods was calculated as the estimated selling price, adjusted for costs of the selling effort and a reasonable profit allowance relating to the selling effort. The fair value of raw materials and supplies was determined based on replacement cost which approximates historical carrying value. The fair value step-up was recognized within cost of goods sold, in the Consolidated Statements of Operations, as the inventory was sold.

Property, Plant & Equipment

Property, plant and equipment associated with Stoller is comprised of $31 million of machinery and equipment, $31 million of buildings, $7 million of land and land improvements, and $2 million of construction in progress. The preliminary estimated fair value was primarily determined using a market approach for land and certain types of equipment, and a replacement cost approach for the remaining depreciable property, plant and equipment. The market approach for certain types of equipment represents a sale comparison that measures the value of an asset through an analysis of sales and offerings of comparable assets. The replacement cost approach used for all other depreciable property, plant and equipment measures the value of an asset by estimating the cost to acquire or construct comparable assets and adjust for age and condition of the asset.

Goodwill

The excess of the consideration for Stoller and Symborg over the preliminary net fair value of assets acquired and liabilities assumed resulted in the recognition of goodwill, which has been assigned to the crop protection reporting unit. Goodwill associated with these acquisitions is attributable to the assembled workforce and expanding the company’s addressable market position. None of the goodwill recognized will be deductible for income tax purposes.

Other Intangible Assets

In connection with the acquisitions of Stoller and Symborg, the company recorded certain intangible assets, as shown in the table below, representing the preliminary fair values at the Acquisition Date.

Intangible Assets	Stoller			Symborg
(in millions)	Fair Value		Weighted-Average Amortization Period (Years)	Fair Value		Weighted-Average Amortization Period (Years)
Intangible assets with finite lives:
Customer-related	$	495	13	$	—	—
Developed technology	106		13	238		12
Trademarks/ trade names	44		15	57		12
Total other intangible assets with finite lives	$	645	13	$	295	12
Intangible assets with infinite lives:
IPR&D	—		—	5		—
Total other intangible assets with indefinite lives	$	—	—	$	5	—
Total intangible assets	$	645		$	300

The preliminary customer-related and in-process research and development (“IPR&D”) intangible asset’s fair values were determined using the multi-period excess earnings method. The preliminary developed technology fair values were determined utilizing the relief from royalty method for Stoller and the multi-period excess earnings method for Symborg. The trademark/trade name fair values were determined utilizing the relief from royalty method.

NOTE 5 - REVENUE

Revenue Recognition

Products

Substantially all of Corteva's revenue is derived from product sales, which consist of sales of Corteva's products to farmers, distributors, and manufacturers. Corteva considers purchase orders, which in some cases are governed by master supply agreements, to be a contract with a customer. Contracts with customers are considered to be short-term when the time between order confirmation and satisfaction of the performance obligations is equal to or less than one year. However, the company has some long-term contracts which can span multiple years.

F-19

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Revenue from product sales is recognized when the customer obtains control of the company's product, which occurs at a point in time according to shipping terms. Payment terms are generally less than one year from invoicing. The company elected the practical expedient and does not adjust the promised amount of consideration for the effects of a significant financing component when the company expects it will be one year or less between when a customer obtains control of the company's product and when payment is due. When the company performs shipping and handling activities after the transfer of control to the customer (e.g., when control transfers prior to or at shipment), these are considered fulfillment activities, and accordingly, the costs are accrued when the related revenue is recognized. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenues. In addition, the company elected the practical expedient to expense any costs to obtain contracts as incurred, as the amortization period for these costs would have been one year or less.

The transaction price includes estimates of variable consideration, such as rights of return, rebates, and discounts, that are reductions in revenue. All estimates are based on the company's historical experience, anticipated performance, and the company's best judgment at the time the estimate is made. Estimates of variable consideration included in the transaction price primarily utilize the expected value method based on historical experience. These estimates are reassessed each reporting period and are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur upon resolution of uncertainty associated with the variable consideration. The majority of contracts have a single performance obligation satisfied at a point in time and the transaction price is stated in the contract, usually as quantity times price per unit. For contracts with multiple performance obligations, the company allocates the transaction price to each performance obligation based on the relative standalone selling price. The standalone selling price is the observable price which depicts the price as if sold to a similar customer in similar circumstances.

Licenses of Intellectual Property

Corteva enters into licensing arrangements with customers under which it licenses its intellectual property. Revenue from the majority of intellectual property licenses is derived from sales-based royalties. Revenue for licensing agreements that contain sales-based royalties is recognized at the later of (i) when the subsequent sale occurs or (ii) when the performance obligation to which some or all of the royalty has been allocated is satisfied.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. The company applies the practical expedient to disclose the transaction price allocated to the remaining performance obligations for only those contracts with an original duration of more than one year. The transaction price allocated to remaining performance obligations with an original duration of more than one year related to material rights granted to customers for contract renewal options were $134 million and $131 million at December 31, 2023 and December 31, 2022, respectively. The company expects revenue to be recognized for the remaining performance obligations evenly over the period of one year to six years.

Contract Balances

Contract liabilities primarily reflect deferred revenue from prepayments under contracts with customers where the company receives advance payments for products to be delivered in future periods. Corteva classifies deferred revenue as current or noncurrent based on the timing of when the company expects to recognize revenue. Contract assets primarily include amounts related to conditional rights to consideration for completed performance not yet invoiced. Accounts receivable are recorded when the right to consideration becomes unconditional.

Contract Balances	December 31, 2023		December 31, 2022
(In millions)
Accounts and notes receivable - trade1	$	4,329	$	4,261
Contract assets - current2	27		26
Contract assets - noncurrent3	67		64
Deferred revenue - current	3,406		3,388
Deferred revenue - noncurrent4	108		107

1.Included in accounts and notes receivable - net in the Consolidated Balance Sheets.

2.Included in other current assets in the Consolidated Balance Sheets.

3.Included in other assets in the Consolidated Balance Sheets.

4.Included in other noncurrent obligations in the Consolidated Balance Sheets.

Revenue recognized during the year ended December 31, 2023, 2022, and 2021 from amounts included in deferred revenue at the beginning of the period was $3,342 million, $3,150 million, and $2,613 million, respectively.

F-20

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Disaggregation of Revenue

Corteva's operations are classified into two reportable segments: Seed and Crop Protection. The company disaggregates its revenue by major product line and geographic region, as the company believes it best depicts the nature, amount and timing of its revenue and cash flows. Net sales by major product line are included below:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Corn	$	6,447	$	5,955	$	5,618
Soybean	1,858		1,810		1,568
Other oilseeds	708		714		752
Other	459		500		464
Seed	9,472		8,979		8,402
Herbicides	4,034		4,591		3,815
Insecticides	1,598		1,831		1,730
Fungicides	1,112		1,450		1,310
Other	1,010		604		398
Crop Protection	7,754		8,476		7,253
Total	$	17,226	$	17,455	$	15,655

Sales are attributed to geographic regions based on customer location. Net sales by geographic region and segment are included below:

Seed	For the Year Ended December 31,
(In millions)	2023		2022		2021
North America1	$	5,768	$	5,178	$	5,004
EMEA2	1,622		1,609		1,599
Latin America	1,637		1,758		1,420
Asia Pacific	445		434		379
Total	$	9,472	$	8,979	$	8,402

Crop Protection	For the Year Ended December 31,
(In millions)	2023		2022		2021
North America1	$	2,822	$	3,116	$	2,532
EMEA2	1,745		1,647		1,524
Latin America	2,269		2,687		2,125
Asia Pacific	918		1,026		1,072
Total	$	7,754	$	8,476	$	7,253

1.Represents U.S. & Canada.

2.Europe, Middle East, and Africa ("EMEA").

Refer to Note 22 - Geographic Information for the breakout of consolidated net sales by geographic area.

F-21

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 6 - RESTRUCTURING AND ASSET RELATED CHARGES - NET

Crop Protection Operations Strategy Restructuring Program

On November 5, 2023, management of the company approved a plan to further optimize its Crop Protection network of manufacturing and external partners (the "Crop Protection Operations Strategy Program"). The plan includes the exit of the company’s production activities at its site in Pittsburg, California, as well as ceasing operations in select manufacturing lines at other locations.

The company expects to record aggregate pre-tax restructuring and asset related charges of $410 million to $460 million, comprised of $70 million to $90 million of severance and related benefit costs, $320 million to $340 million of asset-related and impairment charges and $20 million to $30 million of costs related to contract terminations. Reductions in workforce are subject to local regulatory requirements. Asset-related charges include non-cash impairments charges of $152 million, which were recognized during the year ended December 31, 2023 and consisted of $92 million and $60 million relating to operating lease assets and property, plant and equipment, respectively, associated with the exit of the company’s production activities at its site in Pittsburg, California.

Future cash payments related to these charges are anticipated to be $90 million to $120 million, which primarily relate to the payment of severance and related benefits and contract terminations. During the year ended December 31, 2023, the company paid $3 million associated with these charges. The restructuring actions associated with these charges are expected to be substantially complete in 2024.

The charges of $217 million related to the Crop Protection Operations Strategy Program for the year ended December 31, 2023 impacted the crop protection segment. This amount excludes charges relating to spare parts write-offs, which also impacted the crop protection segment, included in cost of goods sold, in the company’s Consolidated Statement of Operations. See Note 23 – Segment Information, to the Consolidated Financial Statements, for additional information.

The following table is a summary of charges incurred related to the Crop Protection Strategy Operations Program for the year ended December 31, 2023:

(In millions)	For the Year Ended December 31, 2023
Asset related charges1	$	214
Contract termination charges	3
Total restructuring and asset related charges - net2	$	217

1.Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment, as noted above.

2.This amount excludes charges relating to spare parts write-offs included in cost of goods sold, in the company’s Consolidated Statement of Operations, as noted above.

A reconciliation of the December 31, 2022 to the December 31, 2023 liability balances related to the Crop Protection Operations Strategy Program is summarized below:

(In millions)	Asset Related1		Contract Termination		Total
Balance at December 31, 2022	$	—	$	—	$	—
Charges to income from continuing operations	214		3		217
Payments	—		(3)		(3)
Asset write-offs	(214)		—		(214)
Balance at December 31, 2023	$	—	$	—	$	—

1.Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment, as noted above.

F-22

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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”). Through the year ended December 31, 2023, the company recorded net pre-tax restructuring and other charges of $373 million inception-to-date under the 2022 Restructuring Actions, consisting of $131 million of severance and related benefit costs, $116 million of asset related charges, $67 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 as actions associated with this charge are substantially complete.

Cash payments related to these charges are anticipated to be up to $210 million, of which approximately $150 million has been paid through December 31, 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 substantially complete.

The total net pre-tax restructuring and other charges recognized through the year ended December 31, 2023 included $53 million associated with the Russia Exit. The Russia Exit net pre-tax restructuring charges consisted of $6 million of severance and related benefit costs, $6 million of asset related charges, and $30 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 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 years ended December 31, 2023 and 2022 were as follows:

	For the Year Ended December 31,
(In millions)	2023		2022
Seed	$	17	$	120
Crop Protection	5		41
Corporate expenses	20		111
Total1	$	42	$	272

1.This amount excludes other pre-tax charges recorded during the years ended December 31, 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 company's Consolidated Statement of Operations, respectively. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information.

The following table is a summary of charges incurred related to the 2022 Restructuring Actions for the years ended December 31, 2023 and 2022:

	For the Year Ended December 31,
(In millions)	2023		2022
Severance and related benefit costs	$	20	$	111
Asset related charges	12		104
Contract termination charges1	10		57
Total restructuring and asset related charges - net2	$	42	$	272

1.Contract terminations includes early lease terminations.

2.This amount excludes other pre-tax charges recorded during the year ended December 31, 2023 and 2022 included in cost of goods sold and other income (expense) – net, in the company’s Consolidated Statement of Operations, as noted above.

F-23

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

A reconciliation of the December 31, 2022 to the December 31, 2023 liability balances related to the 2022 Restructuring Actions is summarized below:

(In millions)	Severance and Related Benefit Costs		Asset Related		Contract Termination1		Total
Balance at December 31, 2022	$	71	$	—	$	12	$	83
Charges to income from continuing operations	20		12		10		42
Payments	(43)		—		(13)		(56)
Asset write-offs	—		(11)		—		(11)
Balance at December 31, 2023	$	48	$	1	$	9	$	58

1.The liability for contract terminations includes lease obligations. The cash impact of these obligations are substantially complete.

2021 Restructuring Actions

During the first quarter of 2021, Corteva approved restructuring actions designed to right-size and optimize its footprint and organizational structure according to the business needs in each region with the focus on driving continued cost improvement and productivity. Through the year ended December 31, 2023, the company recorded net pre-tax restructuring charges of $167 million inception-to-date under the 2021 Restructuring Actions, consisting of $70 million of severance and related benefit costs, $45 million of asset related charges, $12 million of asset retirement obligations and $40 million of costs related to contract terminations (including early lease terminations). The company does not anticipate any additional material charges from the 2021 Restructuring Actions as actions associated with this charge were substantially complete by the end of 2021.

The charges related to the 2021 Restructuring Actions related to the segments, as well as corporate expenses, for the years ended December 31, 2023, 2022 and 2021 were as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Seed	$	—	$	(1)	$	31
Crop Protection	6		(1)		55
Corporate expenses	1		(5)		81
Total	$	7	$	(7)	$	167

The following table is a summary of charges incurred related to the 2021 Restructuring Actions for the years ended December 31, 2023, 2022 and 2021:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Severance and related benefit costs	$	1	$	(5)	$	74
Asset related charges	6		—		51
Contract termination charges	—		(2)		42
Total restructuring and asset related charges - net	$	7	$	(7)	$	167

Other Asset Related Charges

For the years ended December 31, 2023, 2022, and 2021 the company recognized $72 million, $109 million, and $125 million respectively, in restructuring and asset related charges - net in the Consolidated Statements of Operations, from non-cash accelerated prepaid royalty amortization expense related to Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits.

F-24

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 7 - SUPPLEMENTARY INFORMATION

Other Income (Expense) - Net	For the Year Ended December 31,
(In millions)	2023		2022		2021
Interest income	$	283	$	124	$	77
Equity in earnings (losses) of affiliates - net	10		20		14
Net gain (loss) on sales of businesses and other assets1	22		18		21
Net exchange gains (losses)2	(397)		(229)		(54)
Non-operating pension and other post-employment benefit credits (costs)3	(119)		163		1,318
Miscellaneous income (expenses) - net4	(247)		(156)		(28)
Other income (expense) - net	$	(448)	$	(60)	$	1,348

1.    The years ended December 31, 2022 and 2021 include a gain of $15 million and $19 million, respectively, relating to the sale of a business in the crop protection segment.

2.    Includes net pre-tax exchange gains (losses) of $(284) million, $(110) million and $(67) million associated with the devaluation of the Argentine peso for the years ended December 31, 2023, 2022 and 2021, respectively.

3.    Includes non-service related components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized gain (loss), amortization of prior service benefit and settlement gain (loss)). 

4.    Includes losses from sale of receivables, tax indemnification adjustments related to changes in indemnification balances as a result of the application of the terms of the Tax Matters Agreement between Corteva and Dow and/or DuPont, and other items. The years ended December 31, 2023, 2022, and 2021 also includes an Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”). The years ended December 31, 2023 and 2022 also includes estimated settlement reserves and gains (losses) associated with the sale of businesses, assets and equity investments. The year ended December 31, 2022 also includes legal accruals and settlement cost associated with the Russia Exit. The year ended December 31, 2021 also includes a charge related to a contract termination with a third-party service provider, a gain from the remeasurement of an equity investment and an officer indemnification payment. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information on significant items.

The following table summarizes the impacts of the company's foreign currency hedging program on the company's results of operations. The company routinely uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency-denominated monetary assets and liabilities. The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions. The hedging program gains (losses) are largely taxable (tax deductible) in the United States (U.S.), whereas the offsetting exchange gains (losses) on the remeasurement of the net monetary asset positions are often not taxable (tax deductible) in their local jurisdictions. The net pre-tax exchange gains (losses) are recorded in other income (expense) - net and the related tax impact is recorded in provision for (benefit from) income taxes on continuing operations in the Consolidated Statements of Operations.

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Subsidiary Monetary Position Gain (Loss)
Pre-tax exchange gain (loss)	$	(371)	$	(217)	$	(72)
Local tax (expenses) benefits	55		(10)		(30)
Net after-tax impact from subsidiary exchange gain (loss)	$	(316)	$	(227)	$	(102)
Hedging Program Gain (Loss)
Pre-tax exchange gain (loss)	$	(26)	$	(12)	$	18
Tax (expenses) benefits	7		5		(4)
Net after-tax impact from hedging program exchange gain (loss)	$	(19)	$	(7)	$	14
Total Exchange Gain (Loss)
Pre-tax exchange gain (loss)	$	(397)	$	(229)	$	(54)
Tax (expenses) benefits	62		(5)		(34)
Net after-tax exchange gain (loss)	$	(335)	$	(234)	$	(88)

F-25

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Cash, cash equivalents and restricted cash equivalents

The following table provides a reconciliation of cash and cash equivalents and restricted cash equivalents presented in the Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash equivalents presented in the Consolidated Statements of Cash Flows. Corteva classifies restricted cash equivalents as current or noncurrent based on the nature of the restrictions, which are included in other current assets and other assets, respectively, in the Consolidated Balance Sheets.

(In millions)	December 31, 2023		December 31, 2022
Cash and cash equivalents	$	2,644	$	3,191
Restricted cash equivalents	514		427
Total cash, cash equivalents and restricted cash equivalents	$	3,158	$	3,618

Restricted cash equivalents primarily relates to a trust funded by EIDP for cash obligations under certain non-qualified benefit and deferred compensation plans due to the Merger, which was a change in control event, and contributions to escrow accounts established for the settlement of certain legal matters and the settlement of legacy PFAS matters and the associated qualified spend. All of the company's restricted cash equivalents are classified as current as of December 31, 2023 and 2022, except for the contributions to the escrow account established for the settlement of legacy PFAS matters and the associated qualified spend, which was classified as noncurrent at December 31, 2022.

Accounts payable

Accounts payable was $4,280 million and $4,895 million at December 31, 2023 and 2022, respectively. Accounts payable - trade, which is a component of accounts payable, was $2,952 million and $3,717 million at December 31, 2023 and 2022, respectively. Included in accounts payable – trade was seed grower compensation of approximately $560 million and $470 million at December 31, 2023 and 2022, respectively, which is measured at fair value using level 2 inputs for each period presented. Accrued discounts and rebates, which is a component of accounts payable, was approximately $1,170 million and $1,030 million at December 31, 2023 and 2022, respectively. No other components of accounts payable were more than 5 percent of total current liabilities.

NOTE 8 - INCOME TAXES

Domestic and foreign components of the income (loss) from continuing operations before income taxes and the provision for (benefit from) current and deferred tax expense (benefit) are shown below:

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations before income taxes
Domestic	$	(414)	$	(1)	$	941
Foreign	1,507		1,427		1,405
Income (loss) from continuing operations before income taxes	$	1,093	$	1,426	$	2,346
Current tax expense (benefit)
Federal	$	143	$	65	$	(13)
State and local	40		21		6
Foreign	407		403		329
Total current tax expense (benefit)	$	590	$	489	$	322
Deferred tax expense (benefit)
Federal	$	(326)	$	(170)	$	164
State and local	(50)		(39)		55
Foreign	(62)		(70)		(17)
Total deferred tax expense (benefit)	$	(438)	$	(279)	$	202
Provision for (benefit from) income taxes on continuing operations	152		210		524
Net income (loss) from continuing operations after taxes	$	941	$	1,216	$	1,822

F-26

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The effective income tax rate applicable to income (loss) from continuing operations before income taxes was different from the statutory U.S. federal income tax rate due to the factors listed in the following table:

Reconciliation to U.S. Statutory Rate	For the Year Ended December 31,
	2023		2022		2021
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Effective tax rates on international operations - net1	(1.8)		(3.5)		(2.5)
Acquisitions, divestitures and ownership restructuring activities2	3.6		(5.4)		(0.1)
U.S. research and development credit	(5.9)		(2.2)		(2.4)
Exchange gains/losses3	2.0		3.7		1.9
State and local incomes taxes - net	0.9		0.3		2.1
Impact of Swiss Tax Changes4	(7.9)		—		0.2
Excess tax benefits/deficiencies from stock compensation	(0.5)		(0.7)		(0.2)
Tax settlements and expiration of statute of limitations	(0.3)		0.1		—
Repatriation of foreign earnings5	2.9		1.7		1.0
Other – net	(0.1)		(0.3)		1.3
Effective tax rate on income from continuing operations	13.9	%	14.7	%	22.3	%

1.    Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

2.     Includes net tax charge of $46 million for the year ended December 31, 2023, associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

3.    Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

4. Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

5. Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

Significant components of the company's net deferred tax asset (liability) were attributable to:

Deferred Tax Balances at December 31,	2023				2022
(In millions)	Assets		Liabilities		Assets		Liabilities
Property	$	—	$	353	$	—	$	447
Operating loss and tax credit carryforwards1	539		—		363		—
Accrued employee benefits	703		—		680		—
Other accruals and reserves	603		—		545		—
Intangibles	—		2,153		—		2,106
Inventory	193		—		198		—
Research and development capitalization	607		—		418		—
Investments	39		—		40		—
Unrealized exchange gains/losses	—		38		—		29
Other – net	55		—		40		—
Subtotal	$	2,739	$	2,544	$	2,284	$	2,582
Valuation allowances2	(510)		—		(342)		—
Total	$	2,229	$	2,544	$	1,942	$	2,582
Net Deferred Tax Asset (Liability)	$	(315)			$	(640)

1.    Primarily related to tax loss and credit carryforwards from operations in the United States, Switzerland, and Spain.

2.    During the year ended December 31, 2023, the company adjusted the valuation allowances recorded against the net deferred tax asset position of various legal entities, the largest of which relates to legal entities in Switzerland and Argentina.

F-27

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Details of the company’s operating loss and tax credit carryforwards are shown in the following table:

Operating Loss and Tax Credit Carryforwards	Deferred Tax Asset
(In millions)	2023		2022
Operating loss carryforwards
Expire within 5 years	$	103	$	127
Expire after 5 years or indefinite expiration	303		158
Total operating loss carryforwards	$	406	$	285
Tax credit carryforwards
Expire within 5 years	$	59	$	15
Expire after 5 years or indefinite expiration	74		63
Total tax credit carryforwards	$	133	$	78
Total Operating Loss and Tax Credit Carryforwards	$	539	$	363

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:

Total Gross Unrecognized Tax Benefits	For the Year Ended December 31,
(In millions)	2023		2022		2021
Total unrecognized tax benefits as of beginning of period	$	357	$	377	$	395
Decreases related to positions taken on items from prior years	—		(3)		(7)
Increases related to positions taken on items from prior years	23		4		13
Increases related to positions taken in the current year	16		11		9
Settlement of uncertain tax positions with tax authorities	(4)		(24)		(17)
Decreases due to expiration of statutes of limitations	(2)		(5)		(16)
Exchange (gain) loss	—		(3)		—
Total unrecognized tax benefits as of end of period	$	390	$	357	$	377
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	173	$	139	$	157
Total amount of interest and penalties (benefits) recognized in provision for (benefit from) income taxes on continuing operations	$	1	$	1	$	1
Total accrual for interest and penalties associated with unrecognized tax benefits at end of period	$	11	$	13	$	11

Each year the company files hundreds of tax returns in the various national, state and local income taxing jurisdictions in which it operates. These tax returns are subject to examination and possible challenge by the tax authorities. Positions challenged by the tax authorities may be settled or appealed by the company. As a result, there is an uncertainty in income taxes recognized in the company's financial statements in accordance with accounting for income taxes and accounting for uncertainty in income taxes. It is reasonably possible that changes to the company’s global unrecognized tax benefits could be significant; however, due to the uncertainty regarding the timing of completion of audits and possible outcomes, a current estimate of the range of increases or decreases that may occur within the next twelve months cannot be made. As of December 31, 2023, the company has made advance deposits of approximately $90 million to a foreign taxing authority, partially as a prerequisite to petition the court related to an open tax examination. These payments are accounted for as a prepaid asset, included in other assets in the Consolidated Balance Sheets.

F-28

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Tax years that remain subject to examination for the company’s major tax jurisdictions are shown below:

Tax Years Subject to Examination by Major Tax Jurisdiction at December 31, 2023	Earliest Open Year
Jurisdiction
Argentina	2017
Brazil	2018
Canada	2016
China	2014
France	2021
India	2022
Italy	2017
Switzerland	2018
United States:
Federal income tax	2012
State and local income tax	2012

Undistributed earnings of foreign subsidiaries and related companies that are deemed to be indefinitely invested amounted to $4,240 million at December 31, 2023. Distributions of profits from non-U.S. subsidiaries are subject to certain taxes upon repatriation, primarily where foreign withholding taxes apply; these taxes are partially offset by U.S. foreign tax credits. The company is asserting indefinite reinvestment related to certain investments in foreign subsidiaries. Determination of the amount of unrecognized deferred tax liability related to indefinitely reinvested profits is not feasible primarily due to our legal entity structure and the complexity of U.S. and local tax laws.

For periods between the Merger on August 31, 2017, and the Corteva Distribution, Corteva and its subsidiaries were included in DowDuPont's consolidated federal income tax group and consolidated tax return. Generally, the consolidated tax liability of the DowDuPont U.S. tax group for each year was apportioned among the members of the consolidated group based on each member’s separate taxable income. Corteva, DuPont and Dow intend that to the extent federal and/or state corporate income tax liabilities are reduced through the utilization of tax attributes of the other, settlement of any receivable and payable generated from the use of the other party’s sub-group attributes will be in accordance with a tax sharing agreement and/or Tax Matters Agreement. See Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements for further information related to indemnifications between Corteva, DuPont and Dow.

On August 16, 2022, the U.S. federal government enacted the Inflation Reduction Act of 2022 (“the Act”). The Act includes tax provisions, among other things, which implement (i) a 15 percent minimum tax on book income of certain large corporations; (ii) a one percent excise tax on net stock repurchases; and (iii) several tax incentives to promote clean energy. The Act did not have a material impact on the company’s financial position, results of operations or cash flows.

In December 2021, the Organization for Economic Cooperation and Development ("OECD") released the Pillar Two Model rules (also referred to as the global minimum tax or Global Anti-Base Erosion "GloBE" rules), which were designed to ensure multinational enterprises pay a certain level of tax within every jurisdiction they operate. Several jurisdictions in which we operate have enacted these rules, with a January 1, 2024 effective date. The company is monitoring developments and evaluating the potential impact. At this time, the company does not anticipate a material tax charge as a result of implementation of these rules.

F-29

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 9 - EARNINGS PER SHARE OF COMMON STOCK

The following tables provide earnings per share calculations for the periods indicated below:

Net Income (Loss) for Earnings Per Share Calculations - Basic and Diluted	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	941	$	1,216	$	1,822
Net income (loss) attributable to continuing operations noncontrolling interests	12		11		10
Income (loss) from continuing operations available to Corteva common stockholders	929		1,205		1,812
Income (loss) from discontinued operations available to Corteva common stockholders	(194)		(58)		(53)
Net income (loss) available to common stockholders	$	735	$	1,147	$	1,759

Earnings (Loss) Per Share Calculations - Basic	For the Year Ended December 31,
(Dollars per share)	2023		2022		2021
Earnings (loss) per share of common stock from continuing operations	$	1.31	$	1.67	$	2.46
Earnings (loss) per share of common stock from discontinued operations	(0.27)		(0.08)		(0.07)
Earnings (loss) per share of common stock	$	1.04	$	1.59	$	2.39

Earnings (Loss) Per Share Calculations - Diluted	For the Year Ended December 31,
(Dollars per share)	2023		2022		2021
Earnings (loss) per share of common stock from continuing operations	$	1.30	$	1.66	$	2.44
Earnings (loss) per share of common stock from discontinued operations	(0.27)		(0.08)		(0.07)
Earnings (loss) per share of common stock	$	1.03	$	1.58	$	2.37

Share Count Information	For the Year Ended December 31,
(Shares in millions)	2023	2022	2021
Weighted-average common shares - basic	709.0	720.8	735.9
Plus dilutive effect of equity compensation plans1	2.9	3.7	5.7
Weighted-average common shares - diluted	711.9	724.5	741.6
Potential shares of common stock excluded from EPS calculations2	2.3	1.5	2.8

1.Diluted earnings (loss) per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.

2.These outstanding potential shares of common stock relating to stock options, restricted stock units and performance-based restricted stock units were excluded from the calculation of diluted earnings (loss) per share because (i) the effect of including them would have been anti-dilutive; and (ii) the performance metrics have not yet been achieved for the outstanding potential shares relating to performance-based restricted stock units, which are deemed to be contingently issuable.

F-30

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 10 - ACCOUNTS AND NOTES RECEIVABLE - NET

(In millions)	December 31, 2023		December 31, 2022
Accounts receivable – trade1	$	4,210	$	4,168
Notes receivable – trade1,2	119		93
Other3	1,159		1,440
Total accounts and notes receivable - net	$	5,488	$	5,701

1.Accounts and notes receivable – trade are net of allowances of $205 million and $194 million at December 31, 2023 and 2022, respectively.

2.Notes receivable – trade primarily consists of receivables for deferred payment loan programs for the sale of seed and crop protection products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2023 and 2022, there were no significant impairments related to current loan agreements.

3.Other includes receivables in relation to indemnification assets, value added tax, general sales tax and other taxes. No individual group represents more than 5 percent of total current assets. In addition, Other includes amounts due from nonconsolidated affiliates of $131 million and $148 million as of December 31, 2023 and 2022, respectively.

Accounts and notes receivable are carried at the expected amount to be collected, which approximates fair value. The company establishes the allowance for doubtful receivables using a loss-rate method where the loss rate is developed using past events, historical experience, current conditions and forecasts that affect the collectability of the financial assets.

The following table summarizes changes in the allowance for doubtful receivables for the years ended December 31, 2023 and 2022 respectively:

(In millions)
Balance at December 31, 2021	$	210
Net provision for credit losses	(13)
Other - net of write-offs charged against allowance	(3)
Balance at December 31, 2022	$	194
Net provision for credit losses	11
Other - net of write-offs charged against allowance	—
Balance at December 31, 2023	$	205

The company enters into various factoring agreements with third-party financial institutions to sell its trade receivables under both recourse and non-recourse agreements in exchange for cash proceeds. These financing arrangements result in a transfer of the company's receivables and risks to the third-party. As these transfers qualify as true sales under the applicable accounting guidance, the receivables are derecognized from the Consolidated Balance Sheets upon transfer, and the company receives a payment for the receivables from the third-party within a mutually agreed upon time period. For arrangements involving an element of recourse, which is typically provided through a guarantee of accounts in the event of customer default, the guarantee obligation is measured using market data from similar transactions and reported as a current liability in the Consolidated Balance Sheets.

Trade receivables sold under these agreements were $112 million, $134 million, and $272 million for the years ended December 31, 2023, 2022 and 2021, respectively. The trade receivables sold that remained outstanding under these agreements which include an element of recourse as of December 31, 2023 and 2022 were $2 million and $37 million, respectively. The net proceeds received were included in cash provided by (used for) operating activities, in the Consolidated Statements of Cash Flows. The difference between the carrying amount of the trade receivables sold and the sum of the cash received is recorded as a loss on sale of receivables in other income (expense) - net in the Consolidated Statements of Operations. The loss on sale of receivables were $17 million, $19 million, and $54 million for the years ended December 31, 2023, 2022 and 2021, respectively. See Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information on the company’s guarantees.

F-31

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 11 - INVENTORIES

(In millions)	December 31, 2023		December 31, 2022
Finished products	$	3,273	$	3,260
Semi-finished products	2,775		2,689
Raw materials and supplies	851		862
Total inventories	$	6,899	$	6,811

NOTE 12 - PROPERTY, PLANT AND EQUIPMENT

(In millions)	December 31, 20231		December 31, 2022
Land and land improvements	$	440	$	416
Buildings	1,671		1,541
Machinery and equipment	6,315		6,077
Construction in progress	530		517
Total property, plant and equipment	8,956		8,551
Accumulated depreciation	(4,669)		(4,297)
Total property, plant and equipment - net	$	4,287	$	4,254

1. Includes property, plant and equipment acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

Buildings, machinery and equipment and land improvements are depreciated over useful lives on a straight-line basis ranging from 2 to 25 years. Capitalizable costs associated with computer software for internal use are amortized on a straight-line basis over 2 to 7 years.

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Depreciation expense	$	528	$	521	$	521

NOTE 13 - GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The following table summarizes changes in the carrying amount of goodwill by segment for the years ended December 31, 2022 and 2023, respectively.

(In millions)	Crop Protection		Seed		Total
Balance as of December 31, 2021	$	4,672	$	5,435	$	10,107
Currency translation adjustment	(63)		(72)		(135)
Other goodwill adjustments1	9		(19)		(10)
Balance as of December 31, 2022	$	4,618	$	5,344	$	9,962
Acquisitions2	512		—		512
Currency translation adjustment	53		78		131
Balance as of December 31, 2023	$	5,183	$	5,422	$	10,605

1.Consists primarily of the goodwill included in the sale of a business in the crop protection segment and reallocation of the former digital reporting unit goodwill between the seed and the crop protection segments.

2.On March 1, 2023, the company completed the acquisitions of Stoller and Symborg, which are included in the crop protection segment. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

The company tests goodwill and other indefinite-lived intangible assets for impairment annually (during the fourth quarter), or more frequently when events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit has declined below its carrying value. Goodwill is evaluated for impairment using qualitative and / or quantitative testing procedures. The company performs goodwill impairment testing at the reporting unit level, which is defined as the operating

F-32

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

segment or one level below the operating segment. One level below the operating segment, or component, is a business in which discrete financial information is available and regularly reviewed by segment management. The company aggregates certain components into reporting units based on economic similarities.

In April 2022, the company implemented a global business unit organization model ("BU Reorganization"). The BU Reorganization did not have a material impact to the company’s historical reportable segments’ financial measures and had no impact on our determination of operating segments. However, it did result 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. As a result of the BU Reorganization, the company determined that a triggering event had occurred during the second quarter of 2022 that required an interim impairment assessment as of April 1, 2022. The interim impairment assessment was performed for the seed, crop protection, and the former digital reporting units immediately prior to the BU Reorganization and for the seed and crop protection reporting units immediately after the BU Reorganization resulting in no goodwill impairment charges.

The company performed annual quantitative testing on all of its reporting units and determined that no goodwill impairments existed in 2023 and 2022. As of December 31, 2023, accumulated impairment losses on goodwill were $4,503 million.

Other Intangible Assets

The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows: 

(In millions)	December 31, 20231						December 31, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Intangible assets subject to amortization (finite-lived):
Germplasm	$	6,291	$	(1,081)	$	5,210	$	6,291	$	(826)	$	5,465
Customer-related	2,427		(734)		1,693		1,912		(585)		1,327
Developed technology	1,849		(1,004)		845		1,485		(830)		655
Trademarks/trade names	2,111		(339)		1,772		2,009		(251)		1,758
Other2	395		(294)		101		395		(271)		124
Total other intangible assets with finite lives	13,073		(3,452)		9,621		12,092		(2,763)		9,329
Intangible assets not subject to amortization (indefinite-lived):
IPR&D	5		—		5		10		—		10
Total other intangible assets with indefinite lives	5		—		5		10		—		10
Total other intangible assets	$	13,078	$	(3,452)	$	9,626	$	12,102	$	(2,763)	$	9,339

1.Includes the intangible assets acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

2.Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements.

The aggregate pre-tax amortization expense from continuing operations for finite-lived intangible assets was $683 million, $702 million, and $722 million, for the years ended December 31, 2023, 2022, and 2021, respectively.

Total estimated amortization expense for the next five fiscal years is as follows:

(In millions)
2024	$	683
2025	646
2026	636
2027	576
2028	554

F-33

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 14 - LEASES

The company has operating and finance leases for real estate, transportation, certain machinery and equipment, and information technology assets. The company’s leases have remaining lease terms of approximately 1 to 39 years. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend the lease when it is reasonably certain that the company will exercise that option. Some leasing arrangements require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance and tax payments. The variable lease payments are not presented as part of the initial ROU asset or lease liability.

Certain of the company's leases include residual value guarantees. These residual value guarantees are based on a percentage of the lessor's asset acquisition price and the amount of such guarantee generally declines over the course of the lease term. The portion of residual value guarantees that are probable of payment are included in the related lease liability. At December 31, 2023, the company has future maximum payments for residual value guarantees in operating leases of $207 million with final expirations through 2032. The company's lease agreements do not contain any material restrictive covenants.

The components of lease cost for the years ended December 31, 2023, 2022 and 2021 were as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Operating lease cost	$	169	$	152	$	158
Finance lease cost
Amortization of right-of-use assets	1		1		1
Total finance lease cost	1		1		1
Short-term lease cost	23		18		14
Variable lease cost	11		8		8
Total lease cost	$	204	$	179	$	181

Supplemental cash flow information related to leases for the years ended December 31, 2023, 2022 and 2021 was as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	169	$	155	$	169
Financing cash outflows from finance leases	$	1	$	1	$	1

New leases entered into during the years ended December 31, 2023 and 2022 were not material, on an individual basis. Supplemental balance sheet information related to leases is as follows:

(In millions)	December 31, 2023		December 31, 2022
Operating Leases
Operating lease right-of-use assets1	$	412	$	460
Current operating lease liabilities2	131		119
Noncurrent operating lease liabilities3	355		331
Total operating lease liabilities	$	486	$	450
Finance Leases
Property, plant, and equipment, gross	$	14	$	14
Accumulated depreciation	(13)		(11)
Property, plant, and equipment, net	1		3
Short-term borrowings and finance lease obligations	1		1
Long-Term Debt	1		2
Total finance lease liabilities	$	2	$	3

1.Included in other assets in the Consolidated Balance Sheet.

2.Included in accrued and other current liabilities in the Consolidated Balance Sheet.

3.Included in other noncurrent obligations in the Consolidated Balance Sheet.

F-34

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The company utilizes the incremental borrowing rate in determining the present value of lease payments unless the implicit rate is readily determinable.

Lease Term and Discount Rate	December 31, 2023		December 31, 2022
Weighted-average remaining lease term (years)
Operating leases	6.63		7.19
Financing leases	1.36		2.36
Weighted average discount rate
Operating leases	2.98	%	3.14	%
Financing leases	3.29	%	3.29	%

Maturities of lease liabilities are as follows:

Maturity of Lease Liabilities at December 31, 2023	Operating Leases		Financing Leases
(In millions)
2024	$	139	$	1
2025	108		1
2026	87		—
2027	54		—
2028	43		—
2029 and thereafter	99		—
Total lease payments	530		2
Less: Interest	44		—
Present value of lease liabilities	$	486	$	2

NOTE 15 - SHORT-TERM BORROWINGS, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES

The following tables summarize Corteva's short-term borrowings and finance lease obligations and long-term debt:

Short-term borrowings and finance lease obligations
(In millions)	December 31, 2023		December 31, 2022
Other loans - various currencies	$	1	$	23
Long-term debt payable within one year	196		—
Finance lease obligations payable within one year	1		1
Total short-term borrowings and finance lease obligations	$	198	$	24

Long-Term Debt
	December 31, 2023				December 31, 2022
(In millions)	Amount		Weighted Average Rate		Amount		Weighted Average Rate
Promissory notes and debentures:
Maturing in 2025	$	500	1.70	%	$	500	1.70	%
Maturing in 2026	600		4.50	%	—
Maturing in 2030	500		2.30	%	500		2.30	%
Maturing in 2033	600		4.80	%	—
Other loans:
Foreign currency loans, various rates and maturities	196		14.80	%	181		14.80	%
Medium-term notes, varying maturities through 2041	106		5.34	%	107		4.27	%
Finance lease obligations	1				2
Less: Unamortized debt discount and issuance costs	16				7
Less: Long-term debt due within one year	196				—
Total	$	2,291			$	1,283

Principal payments of long-term debt are $196 million, $500 million and $600 million for debt maturing in 2024, 2025 and 2026, respectively.

F-35

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The estimated fair value of the company's short-term and long-term borrowings, including interest rate financial instruments was determined using Level 2 inputs within the fair value hierarchy, as described in Note 2 - Summary of Significant Accounting Policies. Based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, the fair value of the company's short-term borrowings and finance lease obligations was approximately carrying value.

The fair value of the company's long-term borrowings, including long-term debt due within one year, was $2,434 million and $1,172 million at December 31, 2023 and 2022, respectively.

Debt Offering

In May 2023, the company issued $600 million of 4.50 percent Senior Notes due in 2026 and $600 million of 4.80 percent Senior Notes due in 2033 (the “May 2023 Debt Offering”). The proceeds of this offering are intended to be used for general corporate purposes, which may include funding of working capital, capital expenditures and share repurchases.

Foreign Currency Loans

The company enters into short-term and long-term foreign currency loans from time-to-time by accessing uncommitted revolving credit lines to fund working capital needs of foreign subsidiaries in the normal course of business ("Foreign Currency Loans"). Interest rates are variable and determined at the time of borrowing. Total unused bank credit lines on the Foreign Currency Loans at December 31, 2023 was approximately $50 million. The company's long-term Foreign Currency Loans have varying maturities throughout 2024.

Available Committed Credit Facilities

The following table summarizes the company's credit facilities:

Committed and Available Credit Facilities at December 31, 2023
(In millions)	Effective Date	Committed Credit		Credit Available		Maturity Date	Interest
Revolving Credit Facility	May 2022	$	3,000	$	3,000	May 2027	Floating Rate
Revolving Credit Facility	May 2022	2,000		2,000		May 2025	Floating Rate
364-Day Revolving Credit Facility	January 2023	500		500		January 2024	Floating Rate
Total Committed and Available Credit Facilities		$	5,500	$	5,500

Revolving Credit Facilities

In May 2022, EIDP entered into a $3 billion, 5 year revolving credit facility and a $2 billion, 3-year revolving credit facility (the "Revolving Credit Facilities”) expiring in May 2027 and May 2025, respectively. Borrowings under the revolving credit facilities have an interest rate equal to Adjusted Term SOFR, which is Term SOFR plus 0.10 percent, plus the applicable margin. The Revolving Credit Facilities may serve as a substitute to the company's commercial paper program, and can be used from time to time, for general corporate purposes including, but not limited to, the funding of seasonal working capital needs. The Revolving Credit Facilities contain customary representations and warranties, affirmative and negative covenants and events of default that are typical for companies with similar credit ratings. Additionally, the Revolving Credit Facilities contain a financial covenant requiring that the ratio of total indebtedness to total capitalization for Corteva and its consolidated subsidiaries not exceed 0.60. At December 31, 2023, the company was in compliance with these covenants.

364-Day Revolving Credit Facilities

In January 2023, the company amended and restated its May 2022 364-day revolving credit agreement (the “364-Day Revolving Credit Facility”) increasing the facility amount to $1 billion and extending the expiration date to January 2024. Borrowings under the 364-Day Revolving Credit Facility have an interest rate equal to Adjusted Term SOFR, which is Term SOFR plus 0.10 percent, plus the applicable margin. The 364-Day Revolving Credit Facility includes a provision under which the company may convert any advances outstanding prior to the maturity date into term loans having a maturity date up to one year later. In February 2023, the company drew down $1 billion under the 364-Day Revolving Credit Facility, which was used for general corporate purposes, including funding seasonal working capital needs, capital spending, dividend payments, share repurchases and to partially fund the Stoller and Symborg acquisitions. In May 2023, the company repaid the $1 billion loan using the proceeds from the May 2023 Debt Offering and subsequently, in July 2023, reduced the available credit from $1 billion to $500 million. In January 2024, the company amended and restated the 364-Day Revolving Credit Facility to extend the expiration date to February 26, 2024. The 364-Day Revolving Credit Facility contains customary representations and warranties, affirmative and negative covenants and events of default that are typical for companies with similar credit ratings. Additionally, the 364-Day Revolving Credit Facility contains a financial covenant requiring that the ratio of total indebtedness

F-36

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

to total capitalization for Corteva and its consolidated subsidiaries not exceed 0.60. At December 31, 2023, the company was in compliance with these covenants.

Uncommitted Credit Facilities and Outstanding Letters of Credit

Unused bank credit lines on uncommitted credit facilities were $523 million at December 31, 2023. These lines are available to support short-term liquidity needs and general corporate purposes, including letters of credit. Outstanding letters of credit were $143 million at December 31, 2023. These letters of credit support commitments made in the ordinary course of business.

NOTE 16 - COMMITMENTS AND CONTINGENT LIABILITIES

Guarantees

Indemnifications

In connection with acquisitions and divestitures, the company has indemnified respective parties against certain liabilities that may arise in connection with these transactions and business activities prior to the completion of the transactions. The term of these indemnifications, which typically pertain to environmental, tax and product liabilities, is generally indefinite. In addition, the company indemnifies its duly elected or appointed directors and officers to the fullest extent permitted by Delaware law, against liabilities incurred as a result of their activities for the company, such as adverse judgments relating to litigation matters. If the indemnified party were to incur a liability or have a liability increase as a result of a successful claim, pursuant to the terms of the indemnification, the company would be required to reimburse the indemnified party. The maximum amount of potential future payments is generally unlimited. See below for additional information relating to the indemnification obligations under the Chemours Separation Agreement and the Corteva Separation Agreement.

Obligations for Supplier Finance Programs

The company enters into supplier finance programs with various finance providers in which the company agrees to pay the stated amount of confirmed invoices from participating suppliers by the original maturity date. The company or the financial provider may terminate the agreement upon providing at least thirty days’ written notice. The payment terms that the company has with its finance providers under supplier finance programs are less than one year. At December 31, 2023 and 2022, the outstanding obligations under supplier finance programs was approximately $115 million and $220 million, respectively, and included within accounts payable in the interim Consolidated Balance Sheets.

Obligations for Customers and Other Third Parties

The company has directly guaranteed various debt obligations under agreements with third parties related to customers and other third parties. At December 31, 2023 and 2022, the company had directly guaranteed $84 million and $88 million, respectively, of such obligations. These amounts represent the maximum potential amount of future (undiscounted) payments that the company could be required to make under the guarantees in the event of default by the guaranteed party. Of the maximum future payments at December 31, 2023, approximately $15 million had terms greater than one year. The maximum future payments include $2 million and $16 million of guarantees related to the various factoring agreements that the company enters into with third-party financial institutions to sell its trade receivables at December 31, 2023 and 2022, respectively. See Note 10 - Accounts and Notes Receivable - Net, to the Consolidated Financial Statements, for additional information.

The maximum future payments also include agreements with lenders to establish programs that provide financing for select customers. The terms of the guarantees are equivalent to the terms of the customer loans that are primarily made to finance customer invoices. The total amounts owed from customers to the lenders relating to these agreements was $187 million and $202 million at December 31, 2023 and 2022, respectively.

The company assesses the payment/performance risk by assigning default rates based on the duration of the guarantees. These default rates are assigned based on the external credit rating of the counterparty or through internal credit analysis and historical default history for counterparties that do not have published credit ratings. For counterparties without an external rating or available credit history, a cumulative average default rate is used.

Indemnifications under Separation Agreements

The company has entered into various agreements where the company is indemnified for certain liabilities. The term of this indemnification is generally indefinite, with exceptions, and includes defense costs and expenses, as well as monetary and non-monetary settlements and judgments. In connection with the recognition of liabilities related to these matters, the company records an indemnification asset when recovery is deemed probable.

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Notes to the Consolidated Financial Statements (continued)

Chemours/Performance Chemicals

Pursuant to the Chemours Separation Agreement resulting from the 2015 spin-off of the Performance Chemicals segment from Historical DuPont, Chemours indemnifies the company against certain litigation, environmental, workers' compensation and other liabilities that arose prior to the distribution.

In 2017, the Chemours Separation Agreement was amended to provide for a limited sharing of potential future liabilities related to alleged historical releases of perfluorooctanoic acids and its ammonium salts (“PFOA”) for a five-year period that began on July 6, 2017. In addition, in 2017, Chemours and EIDP settled multi-district litigation in the U.S. District Court for the Southern District of Ohio (“Ohio MDL”), resolving claims of about 3,550 plaintiffs alleging injury from exposure to PFOA in drinking water as a result of the historical manufacture or use of PFOA at the Washington Works plant outside Parkersburg, West Virginia. This plant was previously owned and/or operated by the performance chemicals segment of EIDP and is now owned and/or operated by Chemours.

On May 13, 2019, Chemours filed suit in the Delaware Court of Chancery against DuPont, EIDP, and Corteva, seeking, among other things, to limit its responsibility for the litigation and environmental liabilities allocated to and assumed by Chemours under the Chemours Separation Agreement (the “Delaware Litigation”). On March 30, 2020, the Court of Chancery granted a motion to dismiss. On December 15, 2020, the Delaware Supreme Court affirmed the judgment of the Court of Chancery. Meanwhile, a confidential arbitration process regarding the same and other claims proceeded (the “Arbitration”).

On January 22, 2021, Chemours, DuPont, Corteva and EIDP entered into a binding memorandum of understanding containing a settlement to resolve legal disputes originating from the Delaware Litigation and Arbitration, and to establish a cost sharing arrangement and escrow account to be used to support and manage potential future legacy per- and polyfluoroalkyl substances (“PFAS”) liabilities arising out of pre-July 1, 2015 conduct (the “MOU”). The MOU replaced the 2017 amendment to the Chemours Separation Agreement. According to the terms of the cost sharing arrangement within the MOU, Corteva and DuPont together, on one hand, and Chemours, on the other hand, agreed to a 50-50 split of certain qualified expenses related to PFAS liabilities incurred over a term not to exceed twenty years or $4 billion of qualified spend and escrow account contributions (see below for discussion of the escrow account) in the aggregate. DuPont’s and Corteva’s 50% share under the MOU will be limited to $2 billion, including qualified expenses and escrow contributions. These expenses and escrow account contributions will be subject to the existing Letter Agreement, under which DuPont and Corteva will each bear 50% of the first $300 million (up to $150 million each), and thereafter DuPont bears 71% and Corteva bears the remaining 29%. Under the terms of the MOU, Corteva’s estimated aggregate share of the potential $2 billion is approximately $600 million.

In order to support and manage any potential future PFAS liabilities, the parties also agreed to establish an escrow account ("MOU Escrow Account"). The MOU provides that (1) no later than each of September 30, 2021 and September 30, 2022, Chemours shall deposit $100 million into an escrow account and DuPont and Corteva shall together deposit $100 million in the aggregate into an escrow account and (2) no later than September 30 of each subsequent year through and including 2028, Chemours shall deposit $50 million into an escrow account and DuPont and Corteva shall together deposit $50 million in the aggregate into an escrow account. Subject to the terms and conditions set forth in the MOU, each party may be permitted to defer funding in any year (excluding 2021). Over this period, Chemours will deposit a total of $500 million in the account and DuPont and Corteva will deposit an additional $500 million pursuant to the terms of the Letter Agreement. Additionally, if on December 31, 2028, the balance of the escrow account (including interest) is less than $700 million, Chemours will make 50% of the deposits and DuPont and Corteva together will make 50% of the deposits necessary to restore the balance of the escrow account to $700 million pursuant to the terms of the Letter Agreement. Such payments will be made in a series of consecutive annual equal installments commencing on September 30, 2029, pursuant to the escrow account replenishment terms as set forth in the MOU. The MOU provides that no withdrawals from the MOU Escrow Account can be made before year six, except to fund mutually agreed upon third-party settlements in excess of $125 million. Starting with year six, withdrawals can only be made to fund qualified spend if the parties’ aggregate qualified spend in that particular year is greater than $200 million. Beginning with year 11, the amounts in the MOU Escrow Account can be used to fund any qualified spend. The company made its annual installment deposits due to the MOU Escrow Account through December 31, 2022.

In connection with the Nationwide Water District Settlement (as defined below under the caption “Other PFOA Matters”), the MOU was supplemented to waive funding due to the MOU Escrow Account by Chemours, DuPont and Corteva for 2023 provided that each party fully funds its portion of the Nationwide Water District Settlement and said settlement is consummated. In the event the Nationwide Water District Settlement is not consummated, Chemours, DuPont and Corteva will redeposit into the MOU Escrow Account the cash each withdrew to partially fund its respective contribution to the Water District Settlement Fund. The funding obligation to the MOU Escrow Account with respect to 2024 and due September 30, 2024 will be waived if (i) between October 1, 2023 and September 30, 2024, the parties have entered into settlement

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Notes to the Consolidated Financial Statements (continued)

agreements resolving liabilities under the MOU that in the aggregate exceed $100 million; (ii) each company has fully funded its respective share, in accordance with the MOU, of such settlements; and (iii) such settlements are consummated.

After the term of this arrangement, Chemours’ indemnification obligations under the original 2015 Chemours Separation Agreement, would continue unchanged, subject in each case to certain exceptions set out in the MOU. Under the MOU, Chemours waived specified claims regarding the construct of its 2015 spin-off transaction, and the parties dismissed the Pending Arbitration regarding those claims. Additionally, the parties have agreed to resolve the Ohio MDL PFOA personal injury litigation (as discussed below). The parties are expected to cooperate in good faith to enter into additional agreements reflecting the terms set forth in the MOU.

Corteva Separation Agreement

On April 1, 2019, in connection with the Dow Distribution, Corteva, DuPont and Dow entered into the Corteva Separation Agreement, the Tax Matters Agreement, the Employee Matters Agreement, and certain other agreements (collectively, the “Corteva Separation Agreements”). The Corteva Separation Agreements allocate among Corteva, DuPont and Dow assets, employees, certain liabilities and obligations (including its investments, property and employee benefits and tax-related assets and liabilities) among the parties and provides for indemnification obligation among the parties. Under the Corteva Separation Agreements, DuPont will indemnify Corteva against certain litigation, environmental, tax, workers' compensation and other liabilities that arose prior to the Corteva Distribution and Dow indemnifies Corteva against certain litigation, environmental, tax, workers' compensation and other liabilities that relate to the Historical Dow business, and Corteva indemnifies DuPont and Dow for certain liabilities.

Under the Corteva Separation Agreement, certain legacy EIDP liabilities from discontinued and/or divested operations and businesses of EIDP (including Performance Chemicals) (a “stray liability”) were allocated to Corteva or DuPont. For those stray liabilities allocated to Corteva and DuPont (which may include a specified amount of liability associated with that liability), Corteva and DuPont are responsible for liabilities in an amount up to that specified amount plus an additional $200 million each. Once each company has met the $200 million threshold, Corteva and DuPont will share future liabilities proportionally on the basis of 29% and 71%, respectively; provided, however, that for PFAS, DuPont managed such liabilities with Corteva and DuPont sharing the costs on a 50% - 50% basis starting from $1 and up to $300 million (with such amount, up to $150 million, to be credited to each company’s $200 million threshold) and once the $300 million threshold was met, the companies share proportionally on the basis of 29% and 71% respectively, subject to a $1 million de minimis requirement. The aggregate amount of cash remitted by Corteva has exceeded the stray liability thresholds, including PFAS, noted above.

At December 31, 2023 and December 31, 2022, the indemnification assets were $44 million and $31 million, respectively, within accounts and notes receivable - net and $104 million and $105 million, respectively, within other assets in the Consolidated Balance Sheets. At December 31, 2023 and December 31, 2022, the indemnification liabilities were $30 million and $31 million, respectively, within accrued and other current liabilities and $106 million and $115 million, respectively, within other noncurrent obligations in the Consolidated Balance Sheets.

Discontinued Operations Activity

For the year ended December 31, 2023 and 2022, the company recorded charges of $194 million and $58 million, to income (loss) from discontinued operations after income taxes, in the Consolidated Statement of Operations. The after-tax charges recognized during the year ended December 31, 2023 included approximately $175 million associated with the settlement of certain legacy PFAS related legal matters that are subject to the MOU, including the Nationwide Water District Settlement and the State of Ohio related to natural resource damage claims, and charges associated with environmental remediation activities primarily at Chemours' Fayetteville Works facility. The after-tax charges recognized during the year ended December 31, 2022 primarily related to charges of $36 million associated with environmental remediation activities primarily at Chemours' Fayetteville Works facility for estimated costs for off-site water systems and on-site surface water and groundwater remediation to address and abate PFAS discharges arising out of pre-July 1, 2015 conduct. The increase is the result of changes in Chemours’ environmental remediation activities at the site under the Consent Order between Chemours and the NC DEQ. The after-tax charges recognized during the year ended December 31, 2022 also includes charges of $13 million related to the adjustment of certain prior year tax positions for previously divested businesses.

Litigation

The company is subject to various legal proceedings, including, but not limited to, product liability, intellectual property, antitrust, commercial, property damage, personal injury, environmental and regulatory matters arising out of the normal course of its current businesses or legacy EIDP businesses unrelated to Corteva’s current businesses but allocated to Corteva as part of the separation of Corteva from DuPont. It is not possible to predict the outcome of these various proceedings, as considerable uncertainty exists. The company records accruals for legal matters when the information available indicates that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Accruals may reflect the impact and

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Notes to the Consolidated Financial Statements (continued)

status of negotiations, settlements, rulings, advice from counsel and other information and events that may pertain to a particular matter. For the litigation matters discussed below, management believes that it is reasonably possible that the company could incur liabilities in excess of amounts accrued, the ultimate liability for which could be material to the results of operations and the cash flows in the period recognized. However, the company is unable to estimate the possible loss beyond amounts accrued due to various reasons, including, among others, that the underlying matters are either in early stages and/or have significant factual issues to be resolved. In addition, even when the company believes it has substantial defenses, the company may consider settlement of matters if it believes it is in the best interest of the company.

Lorsban® Lawsuits

As of December 31, 2023, there were pending personal injury lawsuits filed and additional asserted claims against the former Dow Agrosciences LLC, alleging injuries related to chlorpyrifos exposure, the active ingredient in Lorsban®, an insecticide used by commercial farms for field fruit, nut and vegetable crops. Corteva ended its production of Lorsban® in 2020. Chlorpyrifos products are restricted-use pesticides, which are not available for purchase or use by the general public, and may only be sold to, and used by, certified applicators or someone under the certified applicator's direct supervision. These lawsuits do not relate to Dursban®, a residential type chlorpyrifos product that was authorized for indoor purposes, which was discontinued over two decades ago prior to the Merger and Corteva’s formation and Separation. Claimants allege personal injury, including autism, developmental delays and/or decreased neurologic function, resulting from farm worker exposure and bystander drift and in utero exposure to chlorpyrifos. Certain claimants have also put forth remediation claims due to alleged property contamination from chlorpyrifos. As of December 31, 2023, an accrual has been established for the estimated resolution of certain claims.

Federal Trade Commission Investigation

On May 26, 2020, Corteva received a subpoena from the Federal Trade Commission (“FTC”) directing it to submit documents pertaining to its crop protection products generally, as well as business plans, rebate programs, offers, pricing and marketing materials specifically related to its acetochlor, oxamyl, rimsulfuron and other related products in order to determine whether Corteva engaged in unfair methods of competition through anticompetitive conduct. Corteva has fully cooperated with all requests related to this subpoena. On September 29, 2022, the FTC, along with ten state attorneys general in California, Colorado, Illinois, Indiana, Iowa, Minnesota, Nebraska, Oregon, Wisconsin, and Texas, filed a lawsuit against Corteva and another competitor alleging the parties engaged in unfair methods of competition, unlawful conditioning of payments, unreasonably restrained trade, and have an unlawful monopoly (the “FTC lawsuit”). In December 2022, attorneys general in Tennessee and Washington joined the FTC lawsuit and the Arkansas state attorney general filed a separate lawsuit against Corteva and another competitor based on the allegations set forth in the FTC lawsuit. Several proposed private class action lawsuits were also filed in federal court alleging anticompetitive conduct based on the allegations set forth in the FTC lawsuit.

In February 2023, most of these private lawsuits were centralized into a multi-district litigation in the U.S. District Court for the Middle District of North Carolina. Corteva expects to continue a meritorious defense of its business practices.

Bayer Dispute

In August 2022, Bayer filed a breach of contract/declaratory judgment lawsuit in Delaware state court against Corteva relating to an agrobacterium cross-license agreement and E3® soybeans. Bayer alleges that Corteva practiced two Bayer patents in developing E3® soybeans, and therefore, is entitled to royalties pursuant to the terms of the cross-license agreement. In April 2023, Corteva's motion to dismiss the complaint on the basis that, under the terms of the cross-license agreement and the law, E3® soybeans cannot infringe expired patents was denied. At that time the court also denied Bayer’s motion to dismiss our invalidity counterclaim. The trial date is expected to be set for mid-2025.

Litigation related to legacy EIDP businesses unrelated to Corteva’s current businesses

For purposes of this report, the term PFOA means collectively perfluorooctanoic acid and its salts, including the ammonium salt and does not distinguish between the two forms, and PFAS, including PFOA, PFOS (perfluorooctanesulfonic acid), GenX and other perfluorinated chemicals and compounds ("PFCs").

EIDP is a party to various legal proceedings relating to the use of PFOA by its former Performance Chemicals segment for which potential liabilities would be subject to the cost sharing arrangement under the MOU as long as it remains effective.

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Notes to the Consolidated Financial Statements (continued)

Leach Settlement and Ohio MDL Settlement

EIDP has residual liabilities under its 2004 settlement of a West Virginia state court class action, Leach v. EIDP, which alleged that PFOA from EIDP’s former Washington Works facility had contaminated area drinking water supplies and affected the health of area residents. The settlement class has about 80,000 members. In addition to relief that was provided to class members years ago, the settlement requires EIDP to continue providing PFOA water treatment to six area water districts and private well users and to fund, through an escrow account, up to $235 million for a medical monitoring program for eligible class members. As of December 31, 2023, approximately $2 million had been disbursed from the account since its establishment in 2012 and the remaining balance is approximately $1 million.

The Leach settlement permits class members to pursue personal injury claims for six health conditions (and no others) that an expert panel appointed under the settlement reported in 2012 had a “probable link” (as defined in the settlement) with PFOA: pregnancy-induced hypertension, including preeclampsia; kidney cancer; testicular cancer; thyroid disease; ulcerative colitis; and diagnosed high cholesterol. After the panel reported its findings, approximately 3,550 personal injury lawsuits were filed in federal and state courts in Ohio and West Virginia and consolidated in multi-district litigation in the U.S. District Court for the Southern District of Ohio (“Ohio MDL”). The Ohio MDL was settled in early 2017 for approximately $670 million in cash, with Chemours and EIDP (without indemnification from Chemours) each paying half.

Post-MDL Settlement PFOA Personal Injury Claims

The 2017 Ohio MDL settlement did not resolve claims of plaintiffs who did not have claims in the Ohio MDL or whose claims are based on diseases first diagnosed after February 11, 2017. The first was a consolidated trial of two cases; the first, a kidney cancer case, which resulted in a hung jury, while the second, Travis and Julie Abbott v. E. I. du Pont de Nemours and Company (the “Abbott Case”), a testicular cancer case, resulted in a jury verdict of $40 million in compensatory damages and $10 million for loss of consortium, plus interest. The loss of consortium award was subsequently reduced to $250,000 in accordance with state law limitations. Following entry of the judgment by the court, EIDP filed post-trial motions to reduce the verdict, and to appeal the verdict on the basis of procedural and substantive legal errors made by the trial court. After the denial of the company’s petition seeking review by the U.S. Supreme Court, the judgement, inclusive of interest, was paid on November 30, 2023, with EIDP's share being approximately $6 million.

In January 2021, Chemours, DuPont and Corteva agreed to settle the remaining approximately 95 matters, as well as unfiled matters, remaining in the Ohio MDL, with the exception of the Abbott Case, for $83 million, with Chemours contributing $29 million to the settlement, and DuPont and Corteva contributing $27 million each. The company paid $27 million during the year ended December 31, 2021. As agreed to in the settlement, the plaintiffs' counsel filed a motion to dissolve the MDL. In August 2022, further ruling on the motion to dissolve the Ohio MDL was delayed by the district court pending the outcome of the Abbott Case by the U.S. Sixth Circuit Court of Appeals. As of December 31, 2023, 33 plaintiffs purporting to be Leach class members have filed personal injury cases, which are expected to proceed in the Ohio MDL.

Other PFOA Matters

EIDP is a party to other PFOA lawsuits involving claims for property damage, medical monitoring and personal injury. Defense costs and any future liabilities that may arise out of these lawsuits are subject to the MOU and the cost sharing arrangement disclosed above. Under the MOU, fraudulent conveyance claims associated with these matters are not qualified expenses, unless Corteva, Inc. and EIDP would prevail on the merits of these claims.

EIDP did not make firefighting foams, PFOS, or PFOS products. While EIDP made surfactants and intermediaries that some manufacturers used in making foams, which may have contained PFOA as an unintended byproduct or an impurity, EIDP’s products were not formulated with PFOA, nor was PFOA an ingredient of these products. EIDP has never made or sold PFOA as a commercial product.

In March 2023, the U.S. Environmental Protection Agency ("EPA") published proposed rules establishing a maximum contaminate level of four parts per trillion for PFOA in drinking water. If such rules are adopted, a legal mandate with respect to acceptable PFOA levels in drinking water would be established.

Aqueous Firefighting Foams. Approximately 6,200 cases have been filed against 3M and other defendants, including EIDP and Chemours, and some including Corteva and DuPont, alleging PFOS or PFOA environmental contamination and/or personal injury from the use of aqueous firefighting foams. The vast majority of these cases have been transferred to a multi-district litigation proceeding in federal district court in South Carolina (“SC MDL”). Approximately 4,800 of the cases in the SC MDL were filed on behalf of firefighters who allege personal injuries (primarily prostate, kidney and testicular cancer) as a result of exposure to aqueous firefighting foams (“AFFF”). Most of these recent cases assert claims that the EIDP and Chemours separation constituted a fraudulent conveyance. Discovery is expected to take place in the first half of 2024 for potential bellwether cases. On June 1, 2023, approximately 700 AFFF cases filed relating to U.S. public water systems were included as

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Notes to the Consolidated Financial Statements (continued)

part of the Nationwide Water District Settlement (as defined below). Additionally, in December 2023, a class action was filed in Canada against 3M and other defendants, including EIDP and Chemours, alleging PFOS and PFOA environmental contamination and personal injury from use of AFFF.

Nationwide Water District Settlement. On June 1, 2023, Corteva, EIDP, Inc., DuPont, and Chemours (collectively, the “settling companies”) entered into a binding agreement in principle to comprehensively resolve all drinking water claims related to PFAS of a defined class of U.S. public water systems that serve the vast majority of the United States population, including, but not limited to the AFFF claims in the SC MDL. The federal district court in South Carolina (the “SC Court”) granted preliminary approval of the class settlement on August 22, 2023 (the “Nationwide Water District Settlement”). PFAS, as defined in the settlement, includes PFOA and HFPO-DA, among a broad range of fluorinated organic substances.

Under the Nationwide Water District Settlement, in September 2023 the settling companies established a settlement fund (the “Water District Settlement Fund”) and collectively contributed $1.185 billion with Chemours contributing 50 percent, and DuPont and Corteva collectively contributing the remaining 50 percent pursuant to the terms of the Letter Agreement. The settling companies utilized the balance in the MOU Escrow Account, along with amounts previously expected to be contributed to the MOU Escrow Account in 2023, among other sources, to make their respective contributions to the Water District Settlement Fund. In exchange for the payment to the Water District Settlement Fund, the settling companies will receive a complete release of the claims described below from the Class (as defined below).

The class represented by the Nationwide Water District Settlement is composed of all Public Water Systems, as defined in 42 U.S.C. § 300f, with a current detection of PFAS or that are currently required to monitor for PFAS under the Environmental Protection Agency’s Fifth Unregulated Contaminant Monitoring Rule (“UCMR 5”) or other applicable federal or state law (the “Class”). Approximately 88 percent of the U.S. is served by systems required to test under UCMR 5. The Class does not include water systems owned and operated by a State or the United States government; small systems that have not detected the presence of PFAS and are not currently required to monitor for it under federal or state requirements; and, unless they otherwise request to be included, water systems in the lower Cape Fear River Basin of North Carolina.

The Nationwide Water District Settlement addresses the timing and logistics of the settlement payment and conditions under which the settlement might not proceed, including a walk-away right that enables the settling companies to terminate the settlement if more than a confidential, agreed number of class members opt out. A fairness hearing ahead of final approval of the settlement took place on December 14, 2023. As part of the final approval process, the SC Court will establish a timetable for notice to class members, for hearings on approval, and for class members to opt out of the settlement. A court-appointed claims administrator, under the oversight of a court-appointed special master, will be responsible for the management, allocation and distribution of the Water District Settlement Fund. Class counsel, subject to the settling companies’ consent, will nominate the persons who, if approved by the SC Court, will serve as claims administrator and special master.

The total number of requests for exclusion (“opt-outs”) remains under review by the Notice Administrator. It is expected that approximately 1,000 water districts may have opted-out of the settlement while most public water districts (approximately 93 percent of the Class) remain in the class settlement. The deadline for water districts to withdraw their request for exclusion is March 1, 2024 and opt-outs remain subject to a court review process for compliance with other settlement terms. The company continues to support this Nationwide Water District Settlement and final approval by the SC Court is expected to occur in the first quarter of 2024.

The Nationwide Water District Settlement was entered into solely by way of compromise and settlement and is not in any way an admission of liability or fault by Corteva or EIDP. As of December 31, 2023, an accrual has been established for this settlement. If a settlement does not receive final approval, and plaintiffs elect to pursue their claims in court, the settling companies will continue to assert their strong legal defenses in pending litigation.

New Jersey. In late March of 2019, the New Jersey State Attorney General filed four lawsuits against EIDP, Chemours, and others alleging that operations at and discharges from former EIDP sites in New Jersey (Chambers Works, Pompton Lakes, Parlin and Repauno) damaged the State’s natural resources. Two of these lawsuits (those involving the Chambers Works and Parlin sites) allege contamination from PFAS. The Ridgewood Water District in New Jersey filed suit in the first quarter 2019 against EIDP, Chemours, and others alleging losses related to the investigation, remediation and monitoring of polyfluorinated surfactants, including PFOA, in water supplies. DuPont and Corteva were subsequently added as defendants to these lawsuits. These lawsuits include claims under the New Jersey Industrial Site Recovery Act (“ISRA”) and for fraudulent conveyance. Beginning in April 2023, the lawsuits have been stayed subject to a court appointed mediation.

EIDP and Chemours are also defendants in two lawsuits by a private water utility provider in New Jersey and New York alleging damages from PFAS releases into the environment, that impacted water sources that the utilities use to provide water,

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Notes to the Consolidated Financial Statements (continued)

as well as products liability, negligence, nuisance, and trespass claims. The court dismissed the New York plaintiff's trespass claims and limited plaintiffs’ nuisance claims to abatement damages.

Ohio. EIDP is a defendant in two lawsuits, including an action by the State of Ohio based on alleged damage to natural resources. The natural resources damage claim was settled in December 2023 for $110 million and is pending final approval under Ohio's judicial consent order process. If approved, Corteva’s share of the settlement under the MOU will be approximately $16 million. The third lawsuit, a putative nationwide class action ("the Hardwick Class Action") brought on behalf of anyone who has detectable levels of PFAS in their blood serum seeks declaratory and injunctive relief, including the establishment of a “PFAS Science Panel.” In March 2022, the trial court certified a class covering anyone subject to Ohio laws having minimal levels of PFOA plus at least one other PFAS in their blood. In December 2023, the Sixth Circuit Court of Appeals dismissed the Hardwick Class Action due to lack of standing by Mr. Hardwick. The plaintiff's petition for an en banc review of the dismissal was denied in January 2024.

New York. EIDP is a defendant in about 45 lawsuits, including a putative class action (the "Baker Class Action"), brought by persons who live in and around Hoosick Falls, New York. These lawsuits assert claims for medical monitoring, property damage and personal injury based on alleged PFOA releases from manufacturing facilities owned and operated by co-defendants in Hoosick Falls. The lawsuits allege that EIDP and others supplied materials used at these facilities resulting in PFOA air and water contamination. A court approved settlement was reached between the plaintiffs and the other co-defendants regarding the Baker Class Action case. In September 2022, the class certification of the Baker Class Action was granted, with the court certifying three separate classes consisting of a private well property damage class, a medical monitoring class and a nuisance class. EIDP will challenge the certification, and continue to defend itself on the merits of the case, while seeking an out of court resolution. With the settlement of approximately 30 of the personal injury lawsuits, an accrual was established for this matter as of December 31, 2023.

EIDP is also one of more than 10 defendants in a lawsuit brought by the Town of East Hampton, New York alleging PFOA and PFOS contamination of the town’s well water. Additionally, EIDP along with Chemours and others, have been named defendants in complaints filed by 20 water districts in Nassau County, New York alleging that the drinking water they provide to customers is contaminated with PFAS and seeking reimbursement for clean-up costs. The water district complaints also include allegations of fraudulent transfer.

Other Natural Resource Damage Cases. In addition to the natural resource cases in New Jersey and New York, 24 states and 3 U.S. territories, have filed lawsuits against EIDP, Chemours, and others, claiming, among other things, PFC (including PFOA) contamination of groundwater and drinking water. Certain cases also name DuPont and Corteva as defendants and include claims of fraudulent conveyance. The complaints seek reimbursement for past and future costs to investigate and remediate the alleged contamination and compensation for the loss of value and use of the state’s natural resources. Due to overlapping AFFF allegations, virtually all of these cases have been transferred, or are pending transfer to the SC MDL. These cases are largely in the discovery phase. While the recent mediation of the natural resource case in North Carolina concluded without resolution, discussions continue between the parties to seek a resolution. Mediation for cases in New Jersey are ongoing.

On July 13, 2021, Chemours, DuPont, EIDP and Corteva entered into a settlement agreement with the State of Delaware reflecting the companies' and the State's agreement to settle and fully resolve claims alleged against the companies regarding their historical Delaware operations, manufacturing, use and disposal of all chemical compounds, including PFAS. Under the settlement, if the companies, individually or jointly, within 8 years of the settlement, enter into a proportionally similar agreement to settle or resolve claims of another state for PFAS-related natural resource damages, for an amount greater than $50 million, the companies shall make a supplemental payment directly to the Natural Resources and Sustainability Trust (the “NRS Trust”) in an amount equal to such other states’ recovery in excess of $50 million ("Supplemental Payment"). Supplemental Payment(s), if any, will not exceed $25 million in the aggregate. All amounts paid by the companies under the settlement are subject to the MOU and the Corteva Separation Agreement. Due to the settlement of natural resource damages claims with the State of Ohio, the one-time Supplemental Payment will be triggered when the settlement is approved under the Ohio judicial consent order process, with Corteva’s share under the MOU being approximately $4 million. Under the settlement, if the state sues other parties and those parties seek contribution from the companies, the companies will have protection from contribution up to the amounts previously paid under the settlement agreement. The companies will also receive a credit up to the amount of the payment if the state seeks natural resource damage claims against the companies outside the scope of the settlement’s release of claims.

Netherlands. In April 2021, four municipalities in The Netherlands filed complaints alleging contamination of land and groundwater resulting from the emission of PFOA and GenX by Corteva, DuPont and Chemours. The municipalities seek to recover costs incurred due to the alleged emissions, including damages for investigation costs, construction project delays, depreciation of land, soil remediation, liabilities to contractors, and attorneys’ fees. In September 2023, the court entered a

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

second interlocutory judgment, ruling, inter alia, that defendants were liable to the municipalities for PFOA emissions during a certain time period, and the removal costs of deposited emissions on the municipalities land infringes their property rights by an objective standard. While the parties continue to seek a resolution to these matters, a separate hearing related to damages is expected to be scheduled for the first half of 2024. Additionally, the Office of Public Prosecutor in The Netherlands opened a criminal investigation against certain Dutch subsidiaries of Chemours and Historical DuPont, as well as each subsidiary's directors, alleging unlawful PFOA and GenX emissions from Chemours' Dordrecht facility.

Carpet Mill Cases. The city of Rome, GA and Centre, Alabama water district alleged defendants, including EIDP, Chemours, other chemical suppliers and large carpet mills, discharged PFAS in their industrial wastewater, and that this wastewater after treatment, resulted in PFAS contamination of drinking water supplies. The city of Rome sought damages for the cost of the installation of a water treatment system capable of removing PFCs from the water, injunctive relief requiring the defendants to clean up the contamination in the river ways, and punitive damages. Additionally, the city of Rome sent a demand to EIDP asserting damages for the construction of a new utilities wastewater treatment system and upgrades to the city's water treatment system, along with future monitoring costs. The City of Rome case has been settled and an accrual was established as of December 31, 2023. The Centre Alabama water district carpet case has been stayed by the SC MDL. Numerous carpet manufacturers, their alleged suppliers and former suppliers, including EIDP and Chemours, and certain municipal or utility defendants are also subject to several lawsuits in Georgia and Alabama, alleging negligence, nuisance and trespass related to the release of PFOA, and requesting injunctive relief related to PFOA contamination.

Fayetteville Works Facility, North Carolina

Prior to the separation of Chemours, EIDP introduced GenX as a polymerization processing aid and a replacement for PFOA at the Fayetteville Works facility in Bladen County, North Carolina. The facility is now owned and operated by Chemours, which continues to manufacture and use GenX. In June 2022, the EPA issued a final health advisory for drinking water related to GenX. In July 2022, Chemours filed a petition in federal court for review of the EPA's GenX compounds health advisory.

At December 31, 2023, several actions are pending in federal court against Chemours and EIDP relating to PFC discharges from the Fayetteville Works facility. One of these is a consolidated putative class action that asserts claims for medical monitoring and property damage on behalf of putative classes of property owners and residents in areas near or who draw drinking water from the Cape Fear River. Another action is a consolidated action brought by various North Carolina water authorities, including the Cape Fear Public Utility Authority (“CFPUA”) and Brunswick County, that seek actual and punitive damages as well as injunctive relief. In a state court action approximately 100 private property owners near the Fayetteville Works facility filed a complaint against Chemours and EIDP in May 2020. The plaintiffs seek compensatory and punitive damages for their claims of private nuisance, trespass, negligence and property damage allegedly caused by release of certain PFCs. In March 2023, CFPUA filed a Delaware Chancery Court action claiming the spin-off of Chemours and the Dow and historical DuPont merger were unlawful and should be voided, so CFPUA is not precluded from recovering amounts its entitled in its pending litigation. EIDP filed a motion to dismiss the Delaware Chancery Court action based upon failure to state a claim under Delaware law in June 2023, along with a counterclaim in October 2023. CFPUA’s motion to stay the case was granted in January 2024.

Generally, site-related expenses related to GenX claims are subject to the cost sharing arrangements as defined in the MOU.

Environmental

Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated based on current law and existing technologies. These obligations are included in accrued and other current liabilities and other noncurrent obligations in the Consolidated Balance Sheet. It is reasonably possible that environmental remediation and restoration costs in excess of amounts accrued could have a material impact on the company’s results of operations, financial condition and cash flows. Inherent uncertainties exist in these estimates primarily due to unknown conditions, changing governmental regulations and legal standards regarding liability, and emerging remediation technologies for handling site remediation and restoration.

For a discussion of the allocation of environmental liabilities under the Chemours Separation Agreement and the Corteva Separation Agreement, see page F-38.

F-44

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The accrued environmental obligations and indemnification assets include the following:

	As of December 31, 2023
(In millions)	Indemnification Asset		Accrual balance3		Potential exposure above amount accrued3
Environmental Remediation Stray Liabilities
Chemours related obligations - subject to indemnity1,2	$	150	$	150	$	286
Other discontinued or divested businesses obligations1	44		65		198
Environmental remediation liabilities primarily related to DuPont - subject to indemnity from DuPont2	59		63		63
Environmental remediation liabilities not subject to indemnity	—		106		78
Indemnification liabilities related to the MOU4	26		117		29
Total	$	279	$	501	$	654

1.Represents liabilities that are subject to the $200 million threshold and sharing arrangements as discussed on page F-39, under the header "Corteva Separation Agreement."

2.The company has recorded an indemnification asset related to these accruals, including $31 million related to the Superfund sites.

3.Accrual balance represents management’s best estimate of the costs of remediation and restoration, although it is reasonably possible that the potential exposure, as indicated, could range above the amounts accrued, as there are inherent uncertainties in these estimates. Accrual balance includes $55 million for remediation of Superfund sites. Amounts do not include possible impacts from the remediation elements of the EPAs October 2021 PFAS Strategic Roadmap (as applicable), except as disclosed on page F-44 relating to Chemours' remediation activities at the Fayetteville Works Facility pursuant to the Consent Order with the North Carolina Department of Environmental Quality ("NC DEQ").

4.Represents liabilities that are subject to the $150 million threshold and sharing agreements as discussed on page F-38, under the header "Chemours / Performance Chemicals."

Chambers Works, New Jersey

On January 28, 2022, the State of New Jersey filed a request for a preliminary injunction against EIDP and Chemours seeking the establishment of a Remediation Funding Source (“RFS”) in an amount exceeding $900 million for environmental remediation at EIDP’s former Chambers Works facility in New Jersey. The RFS primarily relates to non-PFAS remediation, which is not subject to the MOU. Chemours has accepted indemnity and defense for these matters, while reserving rights and declining EIDP’s demand relating to the ISRA and fraudulent transfer matters as alleged under the existing New Jersey natural resource lawsuits discussed on page F-42. Further ruling on this proceeding has been stayed subject to court appointed mediation.

Nebraska Department of Environment and Energy, AltEn Facility

The EPA and the Nebraska Department of Environment and Energy (“NDEE”) are pursuing investigations, response and removal actions, litigation and enforcement action related to an ethanol plant located near Mead, Nebraska and owned and operated by AltEn LLC (“AltEn”). The agencies have alleged violations under the Resource Conservation and Recovery Act (“RCRA”) and other federal and state laws stemming from AltEn’s lack of compliance with the terms and conditions of its operating permits and other regulatory requirements. Corteva is one of six seed companies, who were customers of AltEn (collectively, the "Facility Response Group"), participating in the NDEE’s Voluntary Cleanup Program to address certain interim remediation needs at the site. In February 2022, the Facility Response Group, filed a lawsuit against AltEn and certain of its affiliates to preserve certain contractual and common law indemnification claims. As of December 31, 2023, an accrual was established for Corteva’s estimated voluntary contribution to the solid waste and wastewater remedial action plans for the AltEn location.

F-45

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 17 - STOCKHOLDERS' EQUITY

Common Stock

Set forth below is a reconciliation of common stock share activity for the years ended December 31, 2023, 2022, and 2021:

Shares of common stock	Issued
Balance December 31, 2020	743,458,000
Issued	4,019,000
Repurchased and retired	(20,950,000)
Balance December 31, 2021	726,527,000
Issued	4,317,000
Repurchased and retired	(17,425,000)
Balance December 31, 2022	713,419,000
Issued	1,965,000
Repurchased and retired	(14,124,000)
Balance December 31, 2023	701,260,000

Share Buyback Plan

On September 13, 2022, Corteva, Inc. announced that its Board of Directors authorized a $2 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2022 Share Buyback Plan"). The timing, price and volume of purchases will be based on market conditions, relevant securities laws and other factors. In connection with the 2022 Share Buyback Plan, the company repurchased and retired 10,026,000 shares in the open market for a cost (excluding excise taxes) of $500 million during the year ended December 31, 2023.

On August 5, 2021, Corteva, Inc. announced that its Board of Directors authorized a $1.5 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2021 Share Buyback Plan"). The company completed the 2021 Share Buyback Plan during the first quarter of 2023 and repurchased and retired 4,098,000, 17,425,000 and 5,572,000 shares in the open market for a total cost of $250 million, $1 billion, and $250 million during the years ended December 31, 2023, 2022 and 2021, respectively.

On June 26, 2019, Corteva, Inc. announced that its Board of Directors authorized a $1 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2019 Share Buyback Plan"). The company completed the 2019 Share Buyback Plan during the third quarter of 2021 and repurchased and retired 24,705,000 shares between the years ended December 31, 2019 and 2021 in the open market.

Shares repurchased pursuant to Corteva's share buyback plans are immediately retired upon repurchase. Repurchased common stock is reflected as a reduction of stockholders' equity. The company's accounting policy related to its share repurchases is to reduce its common stock based on the par value of the shares and to reduce its retained earnings for the excess of the repurchase price over the par value. When Corteva has an accumulated deficit balance, the excess over the par value is applied to APIC. When Corteva has retained earnings, the excess is charged entirely to retained earnings.

Noncontrolling Interest

Corteva, Inc. owns 100 percent of the outstanding common shares of EIDP. However, EIDP has preferred stock outstanding to third parties which is accounted for as a non-controlling interest in Corteva's Consolidated Balance Sheets. Each share of EIDP Preferred Stock - $4.50 Series and EIDP Preferred Stock - $3.50 Series issued and outstanding at the effective date of the Corteva Distribution remains issued and outstanding as to EIDP and was unaffected by the Corteva Distribution.

Below is a summary of the EIDP Preferred Stock at December 31, 2023 and 2022 which is classified as noncontrolling interests in the Corteva Consolidated Balance Sheets.

(Shares in thousands)	Number of Shares
Authorized	23,000
$4.50 Series, callable at $120	1,673
$3.50 Series, callable at $102	700

F-46

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Other Comprehensive Income (Loss)

The changes and after-tax balances of components comprising accumulated other comprehensive income (loss) are summarized below:

(In millions)	Cumulative Translation Adjustment1		Derivative Instruments		Pension Benefit Plans		Other Benefit Plans		Unrealized Gain (Loss) on Investments		Total
2021
Balance January 1, 2021	$	(1,970)	$	(67)	$	(1,433)	$	590	$	(10)	$	(2,890)
Other comprehensive income (loss) before reclassifications	(573)		143		996		25		3		594
Amounts reclassified from accumulated other comprehensive income (loss)	—		(4)		41		(646)		7		(602)
Net other comprehensive income (loss)	(573)		139		1,037		(621)		10		(8)
Balance December 31, 2021	$	(2,543)	$	72	$	(396)	$	(31)	$	—	$	(2,898)
2022
Other comprehensive income (loss) before reclassifications	(340)		63		213		190		—		126
Amounts reclassified from accumulated other comprehensive income (loss)	—		(55)		20		1		—		(34)
Net other comprehensive income (loss)	(340)		8		233		191		—		92
Balance December 31, 2022	$	(2,883)	$	80	$	(163)	$	160	$	—	$	(2,806)
2023
Other comprehensive income (loss) before reclassifications	425		(123)		(188)		38		—		152
Amounts reclassified from accumulated other comprehensive income (loss)	—		(12)		(2)		(9)		—		(23)
Net other comprehensive income (loss)	425		(135)		(190)		29		—		129
Balance December 31, 2023	$	(2,458)	$	(55)	$	(353)	$	189	$	—	$	(2,677)

1.The cumulative translation adjustment gains for the year ended December 31, 2023 was primarily driven by the weakening of the U.S. Dollar (“USD”) against the Swiss Franc ("CHF"), Brazilian Real ("BRL") and European Euro ("EUR"). The cumulative translation adjustment losses for the year ended December 31, 2022 was primarily driven by the strengthening of the U.S. Dollar (“USD”) against the European Euro ("EUR"), Indian Rupee (“INR”), South African Rand (“ZAR”) and Philippine Peso (“PHP”). The cumulative translation adjustment losses for the year ended December 31, 2021 was primarily driven by the strengthening of the U.S. Dollar ("USD") against the European Euro ("EUR"), Swiss franc ("CHF") and Turkish Lira (“TRY”).

The tax (expense) benefit on the net activity related to each component of other comprehensive income (loss) was as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Derivative instruments	$	50	$	3	$	(41)
Pension benefit plans - net	60		(68)		(319)
Other benefit plans - net	(9)		(56)		188
(Provision for) benefit from income taxes related to other comprehensive income (loss) items	$	101	$	(121)	$	(172)

F-47

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

A summary of the reclassifications out of accumulated other comprehensive income (loss) is provided as follows:

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Derivative Instruments1:	$	(8)	$	(63)	$	(13)
Tax (benefit) expense2	(4)		8		9
After-tax	$	(12)	$	(55)	$	(4)
Amortization of pension benefit plans:
Prior service (benefit) cost3,4	$	(3)	$	(3)	$	(2)
Actuarial (gains) losses3,4	—		3		55
Settlement (gain) loss3,4	—		25		1
Total before tax	(3)		25		54
Tax (benefit) expense2	1		(5)		(13)
After-tax	$	(2)	$	20	$	41
Amortization of other benefit plans:
Prior service (benefit) cost3,4	$	(2)	$	(1)	$	(922)
Actuarial (gains) losses3,4	(10)		2		81
Curtailment (gain) loss	—		—		(1)
Total before tax	(12)		1		(842)
Tax (benefit) expense2	3		—		196
After-tax	$	(9)	$	1	$	(646)
Unrealized (Gain) Loss on Investments4	$	—	$	—	$	7
Tax (benefit) expense2	—		—		—
After-tax	$	—	$	—	$	7
Total reclassifications for the period, after-tax	$	(23)	$	(34)	$	(602)

1.Reflected in cost of goods sold in the Consolidated Statements of Operations.

2.Reflected in provision for (benefit from) income taxes from continuing operations in the Consolidated Statements of Operations.

3.These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit (credit) cost of the company's pension and other benefit plans. See Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

4.Reflected in other income (expense) - net in the Consolidated Statements of Operations.

F-48

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 18 - PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFITS

The company offers various long-term benefits to its employees. Where permitted by applicable law, the company reserves the right to change, modify or discontinue the plans.

Defined Benefit Pension Plans

The company has both funded and unfunded noncontributory defined benefit pension plans covering employees in the U.S. and non-U.S. countries. The principal U.S. pension plan is the largest pension plan held by Corteva. Effective January 1, 2007, most new hires were no longer eligible to participate in the U.S. defined benefit pension plans. On November 30, 2018, the company froze the pay and service amounts used to calculate the pension benefits for active employees who participate in the pension plan. As a result, no participants are currently accruing additional benefits in the pension plan.

The company's funding policy is consistent with the funding requirements of federal laws and regulations. Pension coverage for employees of the company's non-U.S. consolidated subsidiaries is provided, to the extent deemed appropriate, through separate plans. Obligations under such plans are funded by depositing funds with trustees, covered by insurance contracts, or remain unfunded.

The company made total contributions of $52 million, $60 million, and $49 million to its pension plans other than the principal U.S. pension plan for the years ended December 31, 2023, 2022 and 2021, respectively. Corteva expects to contribute approximately $50 million to its pension plans other than the principal U.S. pension plan in 2024. The company does not anticipate making contributions to its principal U.S pension plan in 2024.

In August 2022, the company transferred approximately $1.1 billion of certain benefit obligations and associated plan assets in the principal U.S. pension plan (the “Plan”) to an insurance company through the purchase of a nonparticipating group annuity contract (“Annuity Purchase”). The company recorded a non-cash, pre-tax settlement charge of approximately $25 million in other income (expense) – net in the Consolidated Statements of Operations for the year ended December 31, 2022 and corresponding adjustment to accumulated other comprehensive income (loss) in the Consolidated Balance Sheets at December 31, 2022 due to the Annuity Purchase. The Annuity Purchase resulted in a remeasurement of the Plan as of August 31, 2022 and the company updated the weighted average discount rate used in developing the 2022 net periodic pension (credit) costs at December 31, 2021 from 2.82 percent to 4.60 percent. Due to the remeasurement, the company recorded a pre-tax actuarial gain of approximately $110 million to accumulated other comprehensive income (loss) in the Consolidated Balance Sheets at December 31, 2022.

The weighted-average assumptions used to determine pension plan obligations for all pension plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Benefit Obligations	December 31, 2023		December 31, 2022
Discount rate	4.97	%	5.17	%
Rate of increase in future compensation levels1	2.87	%	2.83	%

1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

The weighted-average assumptions used to determine net periodic benefit costs for all pension plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost	For the Year Ended December 31,
	2023		2022		2021
Discount rate	5.17	%	3.33	%	2.44	%
Rate of increase in future compensation levels1	2.83	%	2.55	%	2.54	%
Expected long-term rate of return on plan assets	4.55	%	4.51	%	5.73	%

1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

Other Post-Employment Benefits

The company has historically provided medical, dental and life insurance benefits to certain pensioners and survivors. The majority of U.S. employees hired on or after January 1, 2007, and eligible employees under the age of 50 as of November 30, 2018, are not eligible to participate in the post-employment medical, dental and life insurance plans. Substantially all of the cost and liabilities for these retiree benefit plans are attributable to the U.S. benefit plans. The non-Medicare eligible retiree medical plan is contributory with costs shared between the company and pensioners and survivors. For Medicare eligible pensioners and

F-49

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

survivors, Corteva provides a company-funded Health Reimbursement Arrangement ("HRA"). In December 2020, the company amended its retiree medical, dental and life insurance plans resulting in the company no longer providing retiree dental and life insurance benefits effective January 1, 2022 and Corteva’s portion of the cost of non-Medicare retiree medical coverage no longer being adjusted for cost increases, which capped the Corteva cost at the level in effect as of December 31, 2021 ("2020 OPEB Plan Amendments"). As a result of these changes, the company recorded a $939 million decrease in other post-employment benefits ("OPEB") benefit obligations as of December 31, 2020 with a corresponding prior service benefit within other comprehensive income for the year ended December 31, 2020. A substantial amount of the prior service benefit within other comprehensive income (loss) in 2020 was recognized in other income (expense) - net in the Consolidated Statement of Operations during 2021 with the remainder recognized during 2022.

The company also provides disability benefits to employees. In most countries, employee disability benefit plans are insured. In the U.S., these plans are generally self-insured. Obligations and expenses for self-insured plans are reflected in the change in projected benefit obligations table on page F-51.

The company's OPEB plans are unfunded and the cost of the approved claims is paid from operating cash flows. Pre-tax cash requirements to cover actual net claims costs and related administrative expenses were $97 million, $122 million, and $198 million for the years ended December 31, 2023, 2022 and 2021, respectively. Changes in cash requirements reflect the net impact of per capita health care costs, demographic changes, plan amendments and changes in participant premiums, co-payments and deductibles. In 2024, the company expects to contribute approximately $115 million for its OPEB plans.

The weighted-average assumptions used to determine benefit obligations for OPEB plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Benefit Obligations	December 31, 2023		December 31, 2022
Discount rate	4.92	%	5.09	%

The weighted-average assumptions used to determine net periodic benefit costs for the OPEB plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost	For the Year Ended December 31,
	2023		2022		2021
Discount rate	5.09	%	2.59	%	2.09	%

As of December 31, 2023, 2022 and 2021, health care cost trend rates do not impact the benefit obligations for the OPEB plans because of the 2020 OPEB Plan Amendments.

Assumptions

For the U.S. plan, the company determines the expected long-term rate of return on plan assets by performing a detailed analysis of key economic and market factors driving historical returns for each asset class and formulating a projected return based on factors in the current environment. Factors considered include, but are not limited to, inflation, real economic growth, interest rate yield, interest rate spreads, and other valuation measures and market metrics. The expected long-term rate of return for each asset class is then weighted based on the strategic asset allocation approved by the governing body for the plan. The company's historical experience with the pension fund asset performance is also considered. For non-U.S. plans, assumptions reflect economic assumptions applicable to each country.

In the U.S., Corteva calculates service costs and interest costs by applying individual spot rates from a yield curve (based on high-quality corporate bond yields) to the separate expected cash flows components of service cost and interest cost. Service cost and interest cost for all other plans are determined based on the single equivalent discount rates derived in determining those plan obligations.

For U.S. benefit plans, the discount rates utilized to measure the pension and other post-employment benefit obligations are based on the yield of high-quality corporate fixed income investments at the measurement date. Future expected actuarially determined cash flows are individually discounted at the spot rates under the Aon AA_Above Median yield curve (based on high-quality corporate bond yields) to arrive at the plan’s obligations as of the measurement date. For non-U.S. benefit plans, historically the company utilized prevailing long-term high quality corporate bond indices to determine the discount rate, applicable to each country, at the measurement date.

F-50

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The company adopts the most recently published mortality tables and mortality improvement scale released by the Society of Actuaries in measuring its U.S. pension and other post-employment benefit obligations. The effect of these adoptions is amortized into net periodic benefit cost for the years following the adoption.

Summarized information on the company's pension and other post-employment benefit plans is as follows:

Change in Projected Benefit Obligations, Plan Assets and Funded Status
	Defined Benefit Pension Plans				Other Post-Employment Benefits
(In millions)	For the Year Ended December 31,				For the Year Ended December 31,
	2023		2022		2023		2022
Change in benefit obligations:
Benefit obligation at beginning of the period	$	13,982	$	19,775	$	1,021	$	1,362
Service cost	18		20		1		1
Interest cost	690		505		49		26
Plan participants' contributions	1		1		20		20
Actuarial (gain) loss	311		(3,759)		(49)		(246)
Benefits paid	(1,304)		(1,460)		(117)		(142)
Other1	(257)		(1,080)		—		—
Effect of foreign exchange rates	(1)		(20)		—		—
Benefit obligations at end of the period	$	13,440	$	13,982	$	925	$	1,021
Change in plan assets:
Fair value of plan assets at beginning of the period	$	12,584	$	17,827	$	—	$	—
Actual return on plan assets	661		(2,765)		—		—
Employer contributions	52		60		97		122
Plan participants' contributions	1		1		20		20
Benefits paid	(1,304)		(1,460)		(117)		(142)
Other1	(257)		(1,080)		—		—
Effect of foreign exchange rates	18		1		—		—
Fair value of plan assets at end of the period	$	11,755	$	12,584	$	—	$	—
Funded status
U.S. plan with plan assets	$	(1,336)	$	(1,050)	$	—	$	—
Non-U.S. plans with plan assets	(43)		(30)		—		—
All other plans 2,3	(306)		(318)		(925)		(1,021)
Funded status at end of the period	$	(1,685)	$	(1,398)	$	(925)	$	(1,021)

1.Primarily relates to transfers of certain benefit obligations and related assets associated with the principal U.S. pension plan to an insurance company through the purchase of nonparticipating group annuity contracts.

2.As of December 31, 2023 and 2022, $155 million and $182 million, respectively, of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below.

3.Includes pension plans maintained around the world where funding is not customary.

F-51

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

	Defined Benefit Pension Plans				Other Post-Employment Benefits
(In millions)	December 31, 2023		December 31, 2022		December 31, 2023		December 31, 2022
Amounts recognized in the Consolidated Balance Sheets:
Other assets	$	2	$	3	$	—	$	—
Accrued and other current liabilities	(31)		(35)		(114)		(132)
Pension and other post-employment benefits - noncurrent	(1,656)		(1,366)		(811)		(889)
Net amount recognized	$	(1,685)	$	(1,398)	$	(925)	$	(1,021)
Pretax amounts recognized in accumulated other comprehensive income (loss):
Net gain (loss)	$	(487)	$	(238)	$	238	$	198
Prior service benefit (cost)	22		23		14		16
Pretax balance in accumulated other comprehensive income (loss) at end of year	$	(465)	$	(215)	$	252	$	214

The loss related to the change in pension and OPEB plan benefit obligations for the period ended December 31, 2023 is mainly due to the reduction in the discount rate.

The accumulated benefit obligation for all pension plans was $13.4 billion and $14.0 billion at December 31, 2023 and 2022, respectively.

Pension Plans with Projected Benefit Obligations in Excess of Plan Assets	December 31, 2023		December 31, 2022
(In millions)
Projected benefit obligations	$	13,262	$	13,832
Fair value of plan assets	11,575		12,430

Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets	December 31, 2023		December 31, 2022
(In millions)
Accumulated benefit obligations	$	13,155	$	13,676
Fair value of plan assets	11,488		12,290

F-52

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

(In millions)	Defined Benefit Pension Plans						Other Post-Employment Benefits
	For the Year Ended December 31,						For the Year Ended December 31,
Components of net periodic benefit (credit) cost and amounts recognized in other comprehensive income (loss)	2023		2022		2021		2023		2022		2021
Net Periodic Benefit (Credit) Cost:
Service cost	$	18	$	20	$	25	$	1	$	1	$	1
Interest cost	690		505		364		49		26		21
Expected return on plan assets	(605)		(720)		(915)		—		—		—
Amortization of unrecognized loss (gain)	—		3		55		(10)		2		81
Amortization of prior service (benefit) cost	(3)		(3)		(2)		(2)		(1)		(922)
Curtailment (gain) loss	—		—		—		—		—		(1)
Settlement loss	—		25		1		—		—		—
Net periodic benefit (credit) cost - Total	$	100	$	(170)	$	(472)	$	38	$	28	$	(820)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net gain (loss)	$	(255)	$	274	$	1,284	$	49	$	246	$	33
Amortization of unrecognized (gain) loss	—		3		55		(10)		2		81
Prior service benefit (cost)	—		—		15		—		—		—
Amortization of prior service (benefit) cost	(3)		(3)		(2)		(2)		(1)		(922)
Curtailment (gain) loss	—		—		—		—		—		(1)
Settlement loss	—		25		1		—		—		—
Effect of foreign exchange rates	8		2		3		1		—		—
Total benefit (loss) recognized in other comprehensive income (loss), attributable to Corteva	$	(250)	$	301	$	1,356	$	38	$	247	$	(809)
Total recognized in net periodic benefit (credit) cost and other comprehensive income (loss)	$	(350)	$	471	$	1,828	$	—	$	219	$	11

Estimated Future Benefit Payments

The estimated future benefit payments, reflecting expected future service, as appropriate, are presented in the following table:

Estimated Future Benefit Payments at December 31, 2023	Defined Benefit Pension Plans		Other Post-Employment Benefits
(In millions)
2024	$	1,251	$	113
2025	1,214		106
2026	1,182		99
2027	1,149		93
2028	1,112		86
Years 2029-2033	4,994		344
Total	$	10,902	$	841

F-53

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Plan Assets

All pension plan assets in the U.S. are invested through a single master trust fund. The general principles guiding U.S. pension asset investment policies are those embodied in the Employee Retirement Income Security Act of 1974 ("ERISA"). These principles include discharging Corteva's investment responsibilities for the exclusive benefit of plan participants and in accordance with the "prudent expert" standard and other ERISA rules and regulations. Corteva establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. The strategic asset allocation for this trust fund is approved by the Pension Investment Committee. Strategic asset allocations in other countries are selected in accordance with the laws and practices of those countries. Where appropriate, asset liability studies are utilized in this process.

U.S. plan assets are managed by investment professionals employed by Corteva, and plan assets for non-U.S. plans are managed by professional investment firms unrelated to the company. Corteva's pension investment professionals have discretion to manage the assets within established asset allocation ranges approved by the Pension Investment Committee. Additionally, pension trust funds are permitted to enter into certain contractual arrangements generally described as "derivatives." Derivatives are primarily used to reduce specific market risks, hedge currency and adjust portfolio duration and asset allocation in a cost-effective manner.

The weighted-average target allocation for plan assets of the company's pension plans is summarized as follows:

Target Allocation for Plan Assets	December 31, 2023		December 31, 2022
Asset Category
U.S. equity securities	9	%	8	%
Non-U.S. equity securities	5		7
Fixed income securities	64		64
Hedge funds	2		3
Private market securities	11		11
Real estate	7		6
Cash and cash equivalents	2		1
Total	100	%	100	%

U.S. equity investments are primarily large-cap companies. Non-U.S. equity securities include varying market capitalization levels. Fixed income securities include corporate-issued, government-issued and asset-backed securities of both U.S. and non-U.S. issuers. Corporate debt investments include a range of credit risk and industry diversification. U.S. fixed income investments are weighted heavier than non-U.S. fixed income securities. Other investments include cash and cash equivalents, hedge funds, real estate and private market securities such as interests in private equity and venture capital partnerships.

Fair value calculations may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

For pension plan assets classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs.

For pension plan assets classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks. For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates, commodity prices, swap rates, interest rates and implied volatilities obtained from various market sources.

For pension plan assets classified as Level 3 measurements, total fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity for the investment. Investment managers, fund managers, or investment contract issuers provide valuations of the investment on a monthly or quarterly basis. These valuations are reviewed for reasonableness based on applicable sector, benchmark and company performance. Adjustments to valuations are made

F-54

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

where appropriate. Where available, audited financial statements are obtained and reviewed for the investments as support for the manager’s investment valuation.

The tables below present the fair values of the company's pension assets by level within the fair value hierarchy, as described in Note 2 - Summary of Significant Accounting Policies:

Basis of Fair Value Measurements	Total		Level 1		Level 2		Level 3
For the year ended December 31, 2023
(In millions)
Cash and cash equivalents	$	1,148	$	1,148	$	—	$	—
U.S. equity securities 1	1,108		1,106		1		1
Non-U.S. equity securities	441		439		—		2
Debt – government-issued	1,601		—		1,601		—
Debt – corporate-issued	3,908		—		3,906		2
Debt – asset-backed	637		—		637		—
Hedge funds	5		—		2		3
Private market securities	6		—		—		6
Real estate funds	52		—		—		52
Other	55		—		—		55
Subtotal	$	8,961	$	2,693	$	6,147	$	121
Investments measured at net asset value
Debt - government issued	42
Debt - corporate-issued	3
U.S. equity securities	19
Non-U.S. equity securities	21
Hedge funds	143
Private market securities	1,928
Real estate funds	768
Total investments measured at net asset value	$	2,924
Other items to reconcile to fair value of plan assets
Pension trust receivables 2	315
Pension trust payables 3	(445)
Total	$	11,755

1.The Corteva pension plans directly held $204 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2023.

2.Primarily receivables for investments securities sold.

3.Primarily payables for investment securities purchased.

F-55

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Basis of Fair Value Measurements
For the year ended December 31, 2022
(In millions)	Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	1,348	$	1,348	$	—	$	—
U.S. equity securities1	1,200		1,195		2		3
Non-U.S. equity securities	806		806		—		—
Debt – government-issued	1,669		—		1,669		—
Debt – corporate-issued	3,822		—		3,822		—
Debt – asset-backed	695		—		695		—
Hedge funds	3		—		—		3
Private market securities	4		—		—		4
Real estate funds	132		—		—		132
Derivatives – asset position	2		—		2		—
Other	62		—		—		62
Subtotal	$	9,743	$	3,349	$	6,190	$	204
Investments measured at net asset value
Debt - government issued	35
Debt - corporate-issued	3
U.S. equity securities	20
Non-U.S. equity securities	20
Hedge funds	347
Private market securities	1,991
Real estate funds	669
Total investments measured at net asset value	$	3,085
Other items to reconcile to fair value of plan assets
Pension trust receivables2	161
Pension trust payables3	(405)
Total	$	12,584

1.The Corteva pension plans directly held $250 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2022.

2.Primarily receivables for investments securities sold.

3.Primarily payables for investment securities purchased.

F-56

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The following table summarizes the changes in fair value of Level 3 pension plan assets for the years ended December 31, 2023 and 2022:

Fair Value Measurement of Level 3 Pension Plan Assets	U.S. equity securities		Non-U.S. equity securities		Debt – corporate-issued		Hedge funds		Private market securities		Real estate		Other		Total
(In millions)
Balance at January 1, 2022	$	4	$	—	$	2	$	—	$	3	$	26	$	75	$	110
Actual return on assets:
Relating to assets sold during the year ended December 31, 2022	1		—		(15)		—		(9)		—		—		(23)
Relating to assets held at December 31, 2022	—		(13)		13		(8)		10		8		(1)		9
Purchases, sales and settlements, net	(2)		1		—		—		—		(1)		(12)		(14)
Transfers in or out of Level 3, net	—		12		—		11		—		99		—		122
Balance at December 31, 2022	$	3	$	—	$	—	$	3	$	4	$	132	$	62	$	204
Actual return on assets:
Relating to assets sold during the year ended December 31, 2023	(1)		(9)		—		—		—		—		—		(10)
Relating to assets held at December 31, 2023	—		10		(5)		—		2		(24)		4		(13)
Purchases, sales and settlements, net	(1)		1		7		—		—		(35)		(13)		(41)
Transfers in or out of Level 3, net	—		—		—		—		—		(21)		2		(19)
Balance at December 31, 2023	$	1	$	2	$	2	$	3	$	6	$	52	$	55	$	121

Trust Assets

EIDP entered into a trust agreement in 2013 (as amended and restated in 2017, "the Trust") that established and requires EIDP to fund the Trust for cash obligations under certain non-qualified benefit and deferred compensation plans upon a change in control event as defined in the Trust agreement. Under the Trust agreement, the consummation of the Merger was a change in control event and resulted in a contribution to the Trust by EIDP. Additionally, the Separation resulted in Corteva transferring a portion of the balance of the Trust to DuPont at the Separation date. During the years ended December 31, 2023 and 2022, $47 million and $58 million, respectively, was distributed to EIDP according to the Trust agreement, and at December 31, 2023 and 2022, the balance in the Trust was $214 million and $251 million, respectively. The Trust Assets are classified as current restricted cash equivalents and included within other current assets in the Consolidated Balance Sheets. See Note 7 - Supplementary Information, to the Consolidated Financial Statements, for further information.

Defined Contribution Plans

Corteva provides defined contribution benefits to its employees. The most significant is the U.S. Retirement Savings Plan ("the Plan"), which covers almost all of the U.S. full-service employees. This Plan includes a non-leveraged Employee Stock Ownership Plan ("ESOP"). Employees are not required to participate in the ESOP and those who do are free to diversify out of the ESOP. The purpose of the Plan is to provide retirement savings benefits for employees and to provide employees an opportunity to become stockholders of the company. The Plan is a tax qualified contributory profit sharing plan, with cash or deferred arrangement and any eligible employee of Corteva may participate. Currently, Corteva contributes 100 percent of the first 6 percent of the employee's contribution election and also contributes 3 percent of each eligible employee's eligible compensation regardless of the employee's contribution.

Corteva's contributions to the Plan were $101 million, $97 million, and $63 million for the years ended December 31, 2023, 2022 and 2021, respectively. Corteva's matching contributions vest immediately upon contribution. The 3 percent nonmatching company contribution vests after employees complete three years of service. In addition, Corteva made contributions to other defined contribution plans of $45 million, $36 million, and $29 million for the years ended December 31, 2023, 2022 and 2021, respectively.

F-57

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 19 - STOCK-BASED COMPENSATION

Prior to the Corteva Distribution, Corteva employees held equity awards, including stock options, share appreciation rights (“SARs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”), which were denominated in DowDuPont common stock and, in some cases, in Dow Inc. common stock, and which had originally been issued under the DuPont Equity and Incentive Plan ("EIP"), the Dow Chemical Company 2012 Stock Incentive Plan or the Dow Chemical Company 1988 Award and Option Plan.

As discussed in Note 16 - Commitments and Contingent Liabilities, on April 1, 2019 the company entered into an employee matters agreement (the "EMA") with DuPont and Dow that identifies employees and employee-related liabilities (and attributable assets) to be allocated (either retained, transferred and accepted, or assigned and assumed, as applicable) to the Parties as part of the Distributions and describes when and how the relevant transfers and assignments will occur. With some exceptions, the EMA provides for the equitable adjustment of existing equity incentive compensation awards denominated in the common stock of DowDuPont to reflect the occurrence of the Distributions.

In connection with the Separation on June 1, 2019, outstanding DowDuPont-denominated stock options, SARs, RSU and PSU awards were converted into Corteva-denominated awards under the “Employer Method,” or into both DuPont-denominated awards and Corteva-denominated awards under the “Shareholder Method,” using a formula designed to preserve the intrinsic value of the awards immediately prior to and subsequent to the Corteva Separation. The awards have the same terms and conditions under the applicable plans and award agreements prior to the Separation transactions. The conversions of equity awards did not have a material impact to the company’s consolidated financial statements.

On June 1, 2019 (“Adoption Date”), in connection with the Separation, the Omnibus Incentive Plan (the "OIP") became effective. Under the OIP, the company may grant incentive awards, including stock options (both “incentive stock options” and nonqualified stock options), share appreciation rights, restricted shares, restricted stock units, other share-based awards and cash awards, to its and its subsidiaries’ eligible employees, non-employee directors, independent contractors and consultants following the Separation until the tenth anniversary of the Adoption Date, subject to an aggregate limit and annual individual limits. Under the OIP, the maximum number of shares reserved for the grant or settlement of awards is 20 million shares, excluding shares underlying certain exempt awards, such as the awards converted to Corteva-denominated awards pursuant to the Separation. At December 31, 2023, approximately 10 million shares were authorized for future grants under the OIP. The company generally satisfies stock option exercises and the vesting of RSUs and PSUs with newly issued shares of Corteva common stock, although RSU awards granted under Historical Dow plans in certain countries are settled in cash.

The compensation committee determines the long-term incentive mix, including stock options, RSUs and PSUs and may authorize new grants annually. The company estimates expected forfeitures.

The total stock-based compensation cost included in income (loss) from continuing operations before income taxes within the Consolidated Statement of Operations was $54 million, $55 million, and $79 million for the years ended December 31, 2023, 2022 and 2021, respectively. The income tax benefits related to stock-based compensation arrangements were $(10) million, $(10) million, and $(15) million for the years ended December 31, 2023, 2022 and 2021, respectively.

Stock Options

The exercise price of shares subject to option is equal to the market price of the company's common stock on the date of grant. All options vest serially over a period of three years. Stock option awards granted under the OIP between June 2019 and 2023 expire 10 years after the grant date. Stock option awards granted under the EIP (previous plan) between 2016 and May 2019 expire 10 years after the grant date. Stock option awards granted under the Historical Dow plans subsequent to 2013 expire 10 years after the grant date.

To measure the fair value of the awards on the date of grant, the company used the Black-Scholes option pricing model and the assumptions set forth in the below table. The weighted-average grant-date fair value of options granted for the years ended December 31, 2023, 2022 and 2021 was $21.42, $14.12 and $11.77, respectively.

F-58

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Weighted-Average Assumptions	For the Year ended December 31,
	2023		2022		2021
Dividend yield	0.96	%	1.09	%	1.14	%
Expected volatility	31.07	%	28.95	%	29.44	%
Risk-free interest rate	4.1	%	1.9	%	1.0	%
Expected life of stock options granted during period (years)	6.0		6.0		6.0

The company determined the dividend yield by dividing the annualized dividend on Corteva’s Common Stock by the option exercise price. A historical daily measurement of volatility is determined based on the expected life of the option granted. For the years ended December 31, 2023, 2022 and 2021, the measurement of volatility is based on the average volatility of eight of Corteva's peer companies. Corteva's peer volatility is based on the historical volatility of each business respectively. The risk-free interest rate is determined by reference to the yield on an outstanding U.S. Treasury note with a term equal to the expected life of the option granted. Expected life is determined by utilizing the simplified method for estimating expected term.

The following table summarizes stock option activity for year ended December 31, 2023:

Stock Options	For the Year Ended December 31, 2023
	Number of Shares (in thousands)	Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2023	4,225	$	39.13	5.37	$	82,917
Granted	298	62.29
Exercised	(547)	33.81
Forfeited/Expired	(60)	39.86
Outstanding at December 31, 2023	3,916	$	41.61	4.99	$	30,060
Exercisable at December 31, 2023	3,255	$	38.91	4.32	$	29,735

The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the difference between the closing stock price on the last trading day of the period ended December 31, 2023 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their in-the-money options at period end. The total intrinsic value of options exercised for the years ended December 31, 2023, 2022 and 2021 were $14 million, $43 million, and $43 million, respectively. The company recognized tax benefits from options exercised for the years ended December 31, 2023, 2022 and 2021 of $(3) million, $(8) million and $(8) million, respectively.

As of December 31, 2023, $6 million of total unrecognized pre-tax compensation expense related to nonvested stock options is expected to be recognized over a weighted-average period of about 1.1 years.

Restricted Stock Units and Performance Share Units

RSUs granted serially vest over 3 years. Upon vesting, these RSUs convert one-for-one to Corteva Common Stock. A retirement-eligible employee retains any granted awards upon retirement for one year provided the employee has rendered at least six months of service following the grant date. Additional RSUs are also granted periodically to key senior management employees. These RSUs generally vest over periods ranging from 3 years to 5 years. The fair value of all stock-settled RSUs is based upon the market price of the underlying common stock as of the grant date.

The company grants PSUs to senior leadership. In 2023, there were 284,174 PSUs granted. Vesting for PSUs granted in 2023 and 2022 is partially based on the realization of the Company’s improvement of its Return on Net Assets (“RONA”) and Operating Earnings Per Share ("EPS") during the Performance Period. Vesting for PSUs granted in 2021 is partially based on the realization of the Company’s improvement of its Return on Invested Capital (“ROIC”) and Operating EPS during the Performance Period. Performance and payouts are determined independently for each metric. The actual award, delivered in Corteva Common Stock, can range from zero percent to 200 percent of the original grant. The weighted-average grant date fair value of the PSUs granted in 2023 of $62.29 was based upon the market price of the underlying common stock as of the grant date.

F-59

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Nonvested awards of RSUs and PSUs are shown below.

RSUs & PSUs	For the Year Ended December 31, 2023
	Number of Shares (in thousands)	Weighted Average Grant Date Fair Value (per share)
Nonvested at January 1, 2023	3,955	$	43.56
Granted	1,309	62.22
Vested	(1,501)	38.48
Forfeited	(267)	39.36
Nonvested at December 31, 2023	3,496	$	53.05

The total fair value of stock units vested for the years ended December 31, 2023, 2022 and 2021 was $58 million, $88 million and $56 million, respectively. The weighted-average grant-date fair value of stock units granted for the years ended December 31, 2023, 2022 and 2021 was $62.22, $51.99 and $45.30, respectively.

As of December 31, 2023, $60 million of total unrecognized pre-tax compensation expense related to RSUs and PSUs is expected to be recognized over a weighted average period of 1.14 years.

NOTE 20 - FINANCIAL INSTRUMENTS

At December 31, 2023 and 2022, the company had $1,746 million and $2,296 million, respectively, of held-to-maturity securities (primarily time deposits and money market funds) classified as cash equivalents in the Consolidated Balance Sheets, as these securities had maturities of three months or less at the time of purchase; $98 million and $124 million at December 31, 2023 and 2022, respectively, of held-to-maturity securities (primarily time deposits and foreign government bonds) classified as marketable securities in the Consolidated Balance Sheets, as these securities had maturities of more than three months to less than one year at the time of purchase; and $55 million and $27 million at December 31, 2023 and 2022, respectively, of held-to-maturity securities (primarily foreign government bonds) classified as marketable securities and included in other assets in the Consolidated Balance Sheets, as these securities had maturities of more than one year at the time of purchase. The company’s investments in held-to-maturity securities are held at amortized cost, which approximates fair value. The company’s held-to-maturity securities relating to investments in foreign government bonds at December 31, 2023 and available-for-sale securities sold during the year ended December 31, 2021 are discussed further in the “Debt Securities” section.

Derivative Instruments

Objectives and Strategies for Holding Derivative Instruments

In the ordinary course of business, the company enters into contractual arrangements (derivatives) to reduce its exposure to foreign currency and commodity price risks. The company has established a variety of derivative programs to be utilized for financial risk management. These programs reflect varying levels of exposure coverage and time horizons based on an assessment of risk.

Derivative programs have procedures and controls and are approved by the Corporate Financial Risk Management Committee, consistent with the company's financial risk management policies and guidelines. Derivative instruments used are forwards, options, futures and swaps. The company has not designated any non-derivatives as hedging instruments.

The company's financial risk management procedures also address counterparty credit approval, limits and routine exposure monitoring and reporting. The counterparties to these contractual arrangements are major financial institutions and major commodity exchanges, and multinational grain exporters. The company is exposed to credit losses in the event of nonperformance by these counterparties. The company utilizes collateral support annex agreements with certain counterparties to limit its exposure to credit losses. The company anticipates performance by counterparties to these contracts and therefore no material loss is expected. Market and counterparty credit risks associated with these instruments are regularly reported to management.

F-60

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The aggregate notional amounts for the company's derivative instruments that are designated and not designated as hedging instruments was a net buy (sell) position of $(1,600) million and $2,559 million at December 31, 2023 and 2022, respectively.

Foreign Currency Risk

The company's objective in managing exposure to foreign currency fluctuations is to reduce earnings and cash flow volatility associated with foreign currency rate changes and to mitigate the exposure of certain investments in foreign subsidiaries against changes in the Euro/USD exchange rate. Accordingly, the company enters into various contracts that change in value as foreign exchange rates change to protect the value of its existing foreign currency-denominated assets, liabilities, commitments, investments and cash flows.

The company uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency denominated monetary assets and liabilities of its operations. The primary business objective of this hedging program is to maintain an approximately balanced position in foreign currencies so that exchange gains and losses resulting from exchange rate changes, after related tax effects, are minimized. The company also uses foreign currency exchange contracts to offset a portion of the company's exposure to certain forecasted transactions as well as the translation of foreign currency-denominated earnings. The company also uses commodity contracts to offset risks associated with foreign currency devaluation in certain countries.

Commodity Price Risk

Commodity price risk management programs serve to reduce exposure to price fluctuations on purchases of inventory such as corn and soybeans. The company enters into over-the-counter and exchange-traded derivative commodity instruments to hedge the commodity price risk associated with agricultural commodity exposures.

Derivatives Designated as Cash Flow Hedges

Commodity Contracts

The company enters into over-the-counter and exchange-traded derivative commodity instruments, including options, futures and swaps, to hedge the commodity price risk associated with agriculture commodity exposures.

While each risk management program has a different time maturity period, most programs currently do not extend beyond the next two years. Cash flow hedge results are reclassified into earnings during the same period in which the related exposure impacts earnings. Reclassifications are made sooner if it appears that a forecasted transaction is probable of not occurring.

The following table summarizes the after-tax effect of commodity contract cash flow hedges on accumulated other comprehensive income (loss):

    

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Beginning balance	$	55	$	47	$	(16)
Additions and revaluations of derivatives designated as cash flow hedges	(87)		102		92
Clearance of hedge results to earnings	(39)		(94)		(29)
Ending balance	$	(71)	$	55	$	47

At December 31, 2023, an after-tax net loss of $58 million is expected to be reclassified from accumulated other comprehensive income (loss) into earnings over the next twelve months.

Foreign Currency Contracts

The company enters into forward contracts to hedge the foreign currency risk associated with forecasted transactions within certain foreign subsidiaries.

While each risk management program has a different time maturity period, most programs currently do not extend beyond the next two years. Cash flow hedge results are reclassified into earnings during the same period in which the related exposure impacts earnings. Reclassifications are made sooner if it appears that a forecasted transaction is not probable of occurring.

F-61

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The following table summarizes the after-tax effect of foreign currency cash flow hedges on accumulated other comprehensive

income (loss):

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Beginning balance	$	10	$	32	$	(17)
Additions and revaluations of derivatives designated as cash flow hedges	(36)		(61)		24
Clearance of hedges results to earnings	27		39		25
Ending balance	$	1	$	10	$	32

At December 31, 2023, an after-tax net gain of $1 million is expected to be reclassified from accumulated other comprehensive income (loss) into earnings over the next twelve months.

Derivatives Designated as Net Investment Hedges

Foreign Currency Contracts

The company had designated €450 million of forward contracts to exchange EUR as net investment hedges. The purpose of these forward contracts is to mitigate foreign exchange exposure related to a portion of the company’s Euro net investments in certain foreign subsidiaries against changes in Euro/USD exchange rates. These hedges expired and were settled in March 2023.

Prior to maturity, the company had elected to apply the spot method in testing for effectiveness of the hedging relationship.

Derivatives not Designated in Hedging Relationships

Foreign Currency Contracts

The company uses foreign exchange contracts to reduce its net exposure, by currency, related to foreign currency-denominated monetary assets and liabilities of its operations so that exchange gains and losses resulting from exchange rate changes are minimized. The netting of such exposures precludes the use of hedge accounting; however, the required revaluation of the forward contracts and the associated foreign currency-denominated monetary assets and liabilities intends to achieve a minimal earnings impact, after taxes. The company also uses foreign currency exchange contracts to offset a portion of the company’s exposure to the translation of certain foreign currency-denominated earnings so that gains and losses on the contracts offset changes in the USD value of the related foreign currency-denominated earnings over the relevant aggregate period.

Commodity Contracts

The company utilizes options, futures and swaps that are not designated as hedging instruments to reduce exposure to commodity price fluctuations on purchases of inventory such as corn and soybeans. The company uses commodity contracts to offset a portion of the company’s exposure to commodity price fluctuations so that gains and losses on the contracts offset changes in the commodity price over the relevant aggregate period. The company uses forward agreements, with durations less than one year, to buy and sell USD priced commodities in order to reduce its exposure to currency devaluation for a portion of its local currency cash balances. Counterparties to the forward sales agreements are multinational grain exporters and subject to the company’s financial risk management procedures.

Fair Value of Derivative Instruments

Asset and liability derivatives subject to an enforceable master netting arrangement with the same counterparty are presented on a net basis in the Consolidated Balance Sheets.

F-62

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The presentation of the company's derivative assets and liabilities is as follows:

		December 31, 2023
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1		Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	$	—	$	—
Commodity Contracts	Other current assets	3		—		3
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	83		(33)		50
Commodity Contracts	Other current assets	2		—		2
Total asset derivatives		$	88	$	(33)	$	55
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	23	$	—	$	23
Commodity Contracts	Accrued and other current liabilities	6		—		6
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	38		(33)		5
Commodity contracts	Accrued and other current liabilities	8		—		8
Total liability derivatives		$	75	$	(33)	$	42

		December 31, 2022
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1		Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	41	$	—	$	41
Commodity Contracts	Other current assets	4		—		4
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	51		(40)		11
Total asset derivatives		$	96	$	(40)	$	56
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	9	$	—	$	9
Commodity contracts	Accrued and other current liabilities	3		—		3
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	58		(40)		18
Total liability derivatives		$	70	$	(40)	$	30

1.    Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.

F-63

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Effect of Derivative Instruments

	Amount of Gain (Loss) Recognized in OCI1 - Pre-Tax
	For the Year Ended December 31,
(In millions)	2023		2022		2021
Derivatives designated as hedging instruments:
Net investment hedges:
Foreign currency contracts	$	—	$	28	$	37
Cash flow hedges:
Foreign currency contracts	(54)		(90)		27
Commodity contracts	(123)		130		129
Total derivatives designated as hedging instruments	$	(177)	$	68	$	193

1.OCI is defined as other comprehensive income (loss).

(in millions)	Amount of Gain (Loss) Recognized in Income - Pre-Tax1
	For the Year Ended December 31,
	2023		2022		2021
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign currency contracts2	$	(41)	$	(59)	$	(29)
Commodity contracts2	49		122		42
Total derivatives designated as hedging instruments	8		63		13
Derivatives not designated as hedging instruments:
Foreign currency contracts3	(28)		(12)		18
Foreign currency contracts2	(77)		(6)		(14)
Commodity contracts2,4	(20)		(21)		(18)
Commodity contracts3	2		—		—
Total derivatives not designated as hedging instruments	(123)		(39)		(14)
Total derivatives	$	(115)	$	24	$	(1)

1.For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.

2.Recorded in cost of goods sold, in the Consolidated Statement of Operations.

3.Recognized in other income (expense) - net, in the Consolidated Statement of Operations. Note that the net loss from foreign currency contracts was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 7 - Supplementary Information, to the Consolidated Financial Statements for additional information.

4.The net gain (loss) relating to commodity contracts that are not designated as hedging instruments that were recorded in cost of goods sold, in the Consolidated Statement of Operations, are mostly offset by the related net gain (loss) on third-party grower contracts denominated as liabilities.

Debt Securities

The company’s debt securities include foreign government bonds classified as held-to-maturity securities at December 31, 2023 and 2022. The company’s investments in held-to-maturity securities are held at amortized cost, which approximates fair value, and are held by certain foreign subsidiaries in which the USD is the functional currency. The company's investments in debt securities at December 31, 2023 with a contractual maturity within one year and between one to five years was $85 million and $55 million, respectively.

During 2021, the company sold its U.S. treasuries classified as available-for-sale securities. The estimated fair value of the available-for-sale securities that were sold in 2021 was determined using Level 1 inputs within the fair value hierarchy. Level 1 measurements were based on quoted market prices in active markets for identical assets and liabilities. The available-for-sale securities that were sold in 2021 were held by certain foreign subsidiaries in which the USD is not the functional currency. The fluctuations in foreign exchange were initially recorded in accumulated other comprehensive income (loss) within the Consolidated Statements of Equity and subsequently reclassified to earnings when sold. The gains and losses on these securities offset a portion of the foreign exchange fluctuations in earnings for the company.

F-64

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The following table provides the investing results from available-for-sale securities for the year ended December 31, 2021:

Investing Results	For the Year Ended December 31,
(In millions)	2021
Proceeds from sales of available-for-sale securities	$	226
Gross realized losses	$	(7)

NOTE 21 - FAIR VALUE MEASUREMENTS

The table below summarizes the basis used to measure certain assets and liabilities relating to marketable securities and derivative assets and liabilities at fair value on a recurring basis.

Significant Other Observable Inputs	December 31, 2023		December 31, 2022
(In millions)	Level 2		Level 2
Assets at fair value:
Marketable securities	$	98	$	124
Derivatives relating to:1
Foreign currency	83		92
Commodity Contracts	5		4
Total assets at fair value	$	186	$	220
Liabilities at fair value:
Derivatives relating to:1
Foreign currency	61		67
Commodity contracts	14		3
Total liabilities at fair value	$	75	$	70

1.See Note 20 - Financial Instruments, to the Consolidated Financial Statements, for the classification of derivatives in the Consolidated Balance Sheets.

For assets and liabilities classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs.

For assets and liabilities classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability, or by using observable market data points of similar, more liquid securities to imply the price. For time deposits classified as held-to-maturity investments and reported at amortized cost, fair value is based on an observable interest rate for similar securities. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks.

For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates, commodity prices, swap rates and implied volatilities obtained from various market sources. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance/quality checks.

For all other assets and liabilities for which observable inputs are used, fair value is derived through the use of fair value models, such as a discounted cash flow model or other standard pricing models. See Note 20 - Financial Instruments, to the Consolidated Financial Statements, for further information on the types of instruments used by the company for risk management.

There were no transfers between Levels 1 and 2 during the years ended December 31, 2023 and 2022.

For assets classified as Level 3 measurements, the fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity. The fair value of the company’s interests held in trade receivable conduits is determined by calculating the expected amount of cash to be received using the key input of anticipated credit losses in the

F-65

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

portfolio of receivables sold that have not yet been collected. Given the short-term nature of the underlying receivables, discount rate and prepayments are not factors in determining the fair value of the interests.

Fair Value Measurements on a Nonrecurring Basis

As part of the Crop Protection Operations Strategy Restructuring Program, the company plans to exit its production activities at its site in Pittsburg, California, as well as cease operations in select manufacturing lines at other locations. As a result, the company recognized a pre-tax non-cash impairment charge of $152 million to restructuring and asset related charges – net, in the Consolidated Statement of Operations, consisting of a charge of $92 million and $60 million relating to operating lease assets and property, plant and equipment, respectively, which were classified as Level 3 measurements using unobservable inputs.

See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

NOTE 22 - GEOGRAPHIC INFORMATION

Sales are attributed to geographic areas based on customer location; long-lived assets are attributed to geographic areas based on asset location.

	Net Sales
	For the Year Ended December 31,
(In millions)	2023		2022		2021
United States	$	7,783	$	7,553	$	6,782
Canada	807		741		754
EMEA	3,367		3,256		3,123
Latin America1	3,906		4,445		3,545
Asia Pacific	1,363		1,460		1,451
Total	$	17,226	$	17,455	$	15,655

1.Net sales for Brazil for the years ended December 31, 2023, 2022 and 2021 were $2,523 million, $3,137 million and $2,315 million, respectively.

	Net Property
	As of December 31,
(In millions)	2023		2022		2021
United States	$	2,922	$	2,992	$	3,051
Canada	119		116		114
EMEA	548		538		566
Latin America	608		506		468
Asia Pacific	90		102		130
Total	$	4,287	$	4,254	$	4,329

F-66

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 23 - SEGMENT INFORMATION

Corteva’s reportable segments reflects the manner in which its chief operating decision maker ("CODM") allocates resources and assesses performance, which is at the operating segment level (seed and crop protection). For purposes of allocating resources to the segments and assessing segment performance, segment operating EBITDA is the primary measure used by Corteva’s CODM. The company defines segment operating EBITDA as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, corporate expenses, non-operating (benefits) costs, foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items. Non-operating (benefits) costs consists of non-operating pension and other post-employment benefit (OPEB) credits (costs), tax indemnification adjustments, environmental remediation and legal costs associated with legacy EIDP businesses and sites, and the 2021 officer indemnification payment. Tax indemnification adjustments relate to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the company as pre-tax income or expense. Net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting represents the non-cash net gain (loss) from changes in fair value of certain undesignated foreign currency derivative contracts. Upon settlement, which is within the same calendar year of execution of the contract, the realized gain (loss) from the changes in fair value of the non-qualified foreign currency derivative contracts will be reported in the respective segment results to reflect the economic effects of the foreign currency derivative contracts without the resulting unrealized mark to fair value volatility.

Corporate Profile

The company conducts its global operations through the following reportable segments:

Seed

The company’s seed segment is a global leader in developing and supplying advanced germplasm and traits that produce optimum yield for farms around the world. The segment is a leader in many of the company’s key seed markets, including North America corn and soybeans, Europe corn and sunflower, as well as Brazil, India, South Africa and Argentina corn. The segment offers trait technologies that improve resistance to weather, disease, insects and enhance food and nutritional characteristics, herbicides used to control weeds, and digital solutions that assist farmer decision-making to help maximize yield and profitability.

Crop Protection

The crop protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. The segment offers crop protection solutions and digital solutions that provide farmers the tools they need to improve productivity and profitability, and help keep fields free of weeds, insects and diseases. The segment is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals.

F-67

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

(In millions)	Seed		Crop Protection		Total
As of and for the Year Ended December 31, 2023
Net sales	$	9,472	$	7,754	$	17,226
Segment operating EBITDA	2,117		1,374		3,491
Depreciation and amortization	814		397		1,211
Segment assets	22,732		15,004		37,736
Investments in nonconsolidated affiliates	39		76		115
Purchases of property, plant and equipment	332		263		595
As of and for the Year Ended December 31, 2022
Net sales	8,979		8,476		17,455
Segment operating EBITDA	1,656		1,684		3,340
Depreciation and amortization	839		384		1,223
Segment assets	22,952		14,097		37,049
Investments in nonconsolidated affiliates	35		67		102
Purchases of property, plant and equipment	225		380		605
As of and for the Year Ended December 31, 2021
Net sales	8,402		7,253		15,655
Segment operating EBITDA	1,512		1,202		2,714
Depreciation and amortization	866		377		1,243
Segment assets	23,270		12,428		35,698
Investments in nonconsolidated affiliates	29		47		76
Purchase of property, plant and equipment	237		336		573

Reconciliation to Consolidated Financial Statements

Income (loss) from continuing operations after income taxes to segment operating EBITDA	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	941	$	1,216	$	1,822
Provision for (benefit from) income taxes on continuing operations	152		210		524
Income (loss) from continuing operations before income taxes	1,093		1,426		2,346
Depreciation and amortization	1,211		1,223		1,243
Interest income	(283)		(124)		(77)
Interest expense	233		79		30
Exchange (gains) losses - net	397		229		54
Non-operating (benefits) costs - net1	151		(111)		(1,256)
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges	—		—		—
Significant items	579		502		236
Corporate expenses	110		116		138
Segment operating EBITDA	$	3,491	$	3,340	$	2,714

1.The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

Segment assets to total assets (in millions)	December 31, 2023		December 31, 2022
Total segment assets	$	37,736	$	37,049
Corporate assets	5,260		5,569
Total assets	$	42,996	$	42,618

F-68

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Significant Pre-tax (Charges) Benefits Not Included in Segment Operating EBITDA

The years ended December 31, 2023, 2022 and 2021, respectively, included the following significant pre-tax (charges) benefits which are excluded from segment operating EBITDA:

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2023
Restructuring and asset related charges - net 1	$	(86)	$	(228)	$	(22)	$	(336)
Estimated settlement expense 2	—		(204)		—		(204)
Inventory write-offs 3	(7)		—		—		(7)
Spare parts write-off 4	—		(12)		—		(12)
Gain (loss) on sale of business, assets and equity investments 3	4		10		—		14
Employee Retention Credit	—		3		—		3
AltEn facility remediation charges	(10)		—		—		(10)
Seed sale associated with Russia Exit 3,5	18		—		—		18
Acquisition-related costs 6	—		(45)		—		(45)
Total	$	(81)	$	(476)	$	(22)	$	(579)

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2022
Restructuring and asset related charges - net 1	$	(228)	$	(37)	$	(98)	$	(363)
Estimated settlement expense 2	—		(87)		—		(87)
Inventory write-offs 3	(33)		—		—		(33)
Gain (loss) on sale of business, assets and equity investments 3	(5)		15		—		10
Settlement costs associated with Russia Exit 3	(8)		—		—		(8)
Employee Retention Credit	6		3		—		9
AltEn facility remediation charges	(33)		—		—		(33)
Seed sale associated with Russia Exit 3,5	3		—		—		3
Total	$	(298)	$	(106)	$	(98)	$	(502)

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2021
Restructuring and asset related charges - net 1	$	(152)	$	(59)	$	(78)	$	(289)
Equity securities mark-to-market gain (loss)	47		—		—		47
Employee Retention Credit	37		23		—		60
Contract termination	(30)		(24)		—		(54)
Total	$	(98)	$	(60)	$	(78)	$	(236)

1.Includes restructuring plans and asset related charges as well as accelerated prepaid amortization expense. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

2.Consists of estimated Lorsban® related charges.

3.Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions.

4.Incremental loss associated with activities related to the Crop Protection Operations Strategy Restructuring Program.

5.Includes a benefit of $18 million and $3 million for the years ended December 31, 2023 and 2022, respectively, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the Company was contractually required to purchase. It consists of $71 million and $8 million of net sales and $53 million and $5 million of cost of goods sold for the years ended December 31, 2023 and 2022, respectively.

6.Relates to acquisition-related costs, including transaction and third-party integration costs associated with the completed acquisitions of Stoller and Symborg as well as the recognition of the inventory fair value step-up. See Note 4 - Business Combinations, to the Consolidated Financial Statements, for additional information.

F-69

EIDP, Inc.

Index to the Consolidated Financial Statements

	Page(s)
Management's Reports on Responsibility for Financial Statements and Internal Control over Financial Reporting	F-71
Report of Independent Registered Public Accounting Firm (PCAOB ID 238)	F-72
Consolidated Financial Statements:
Consolidated Statements of Operations for the years ended December 31, 2023, 2022, and 2021	F-74
Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022 and 2021	F-75
Consolidated Balance Sheets as of December 31, 2023 and 2022	F-76
Consolidated Statements of Cash Flows for the years ended December 31, 2023, 2022, and 2021	F-77
Consolidated Statements of Equity for the years ended December 31, 2023, 2022, and 2021	F-78
Notes to the Consolidated Financial Statements	F-79

F-70

Management's Reports on Responsibility for Financial Statements and

Internal Control over Financial Reporting

Management's Report on Responsibility for Financial Statements

Management is responsible for the Consolidated Financial Statements and the other financial information contained in this Annual Report on Form 10-K. The financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") and are considered by management to present fairly EIDP's financial position, results of operations and cash flows. The financial statements include some amounts that are based on management's best estimates and judgments. The financial statements have been audited by EIDP's independent registered public accounting firm, PricewaterhouseCoopers LLP. The purpose of their audit is to express an opinion as to whether the Consolidated Financial Statements included in this Annual Report on Form 10-K present fairly, in all material respects, EIDP's financial position, results of operations and cash flows in conformity with GAAP. Their report is presented on the following pages.

Management's Report on Internal Control over Financial Reporting

Management is responsible for establishing and maintaining an adequate system of internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. EIDP's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. EIDP's internal control over financial reporting includes those policies and procedures that:

i.pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of EIDP;

ii.provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles and that receipts and expenditures of EIDP are being made only in accordance with authorization of management and directors of EIDP; and

iii.provide reasonable assurance regarding prevention or timely detection of unauthorized acquisitions, use or disposition of EIDP's assets that could have a material effect on the financial statements.

Internal control over financial reporting has certain inherent limitations which may not prevent or detect misstatements. In addition, changes in conditions and business practices may cause variation in the effectiveness of internal controls.

Management assessed the effectiveness of EIDP's internal control over financial reporting as of December 31, 2023, based on criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in Internal Control-Integrated Framework (2013). Based on its assessment and those criteria, management concluded that EIDP maintained effective internal control over financial reporting as of December 31, 2023. Management’s assessment of the effectiveness of EIDP’s internal control over financial reporting as of December 31, 2023 excluded the Stoller and Symborg acquisitions, which were completed in March 2023. Total assets, excluding goodwill and other intangible assets, and net sales of Stoller and Symborg represent approximately 1 percent and 2 percent, respectively, of EIDP’s consolidated assets and net sales, as of and for the year ended December 31, 2023. This exclusion is in accordance with the guidelines established by the Securities and Exchange Commission.

PricewaterhouseCoopers LLP, an independent registered public accounting firm, has audited the effectiveness of EIDP's internal control over financial reporting as of December 31, 2023, as stated in their report, which is presented on the following pages.

Charles V. Magro
Chief Executive Officer and Director David J. Anderson
Executive Vice President,
Chief Financial Officer and Director

February 8, 2024

F-71

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Stockholders of EIDP, Inc.

Opinions on the Financial Statements and Internal Control over Financial Reporting

We have audited the accompanying consolidated balance sheets of EIDP, Inc. and its subsidiaries (the “Company”) as of December 31, 2023 and 2022, and the related consolidated statements of operations, comprehensive income (loss), equity and cash flows for each of the three years in the period ended December 31, 2023, including the related notes and schedule of valuation and qualifying accounts for each of the three years in the period ended December 31, 2023 appearing under Item 15 (collectively referred to as the “consolidated financial statements”). We also have audited the Company's internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2023 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO.

Basis for Opinions

The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Control over Financial Reporting. Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.

Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

As described in Management’s Report on Internal Control over Financial Reporting, management has excluded the Stoller Group, Inc. (“Stoller”) and Quorum Vital Investment, S.L. and its affiliates (“Symborg”) businesses from its assessment of internal control over financial reporting as of December 31, 2023 because they were acquired by the Company in purchase business combinations during 2023. We have also excluded the Stoller and Symborg businesses from our audit of internal control over financial reporting. These businesses, each of which is wholly owned, comprised, in the aggregate, total assets, excluding goodwill and other intangible assets, and total net sales excluded from management’s assessment and our audit of internal control over financial reporting of approximately 1 percent and 2 percent, respectively, of the related consolidated financial statement amounts as of and for the year ended December 31, 2023.

Definition and Limitations of Internal Control over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit

F-72

preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Critical Audit Matters

The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Goodwill (Seed Reporting Unit) Impairment Assessment

As described in Notes 2 and 13 to the Corteva, Inc. consolidated financial statements, the Company’s consolidated goodwill balance was $10.6 billion as of December 31, 2023, and the goodwill associated with the seed reporting unit was $5.4 billion. Management tests goodwill for impairment at the reporting unit level at least annually, or more frequently when events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit has declined below its carrying value. Management performs an annual goodwill impairment test in the fourth quarter. If management chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required. Management performed quantitative testing on its seed reporting unit and determined that no goodwill impairment existed in 2023. Management determined fair value for the seed reporting unit using a discounted cash flow model. Management’s significant assumptions in this analysis included future cash flow projections, the weighted average cost of capital, the terminal growth rate, and the tax rate.

The principal considerations for our determination that performing procedures relating to the seed reporting unit goodwill impairment assessment is a critical audit matter are (i) the significant judgment by management when developing the fair value of the seed reporting unit; (ii) a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management’s significant assumptions related to projected revenue, the weighted average cost of capital, and the terminal value; and (iii) the audit effort involved the use of professionals with specialized skill and knowledge.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to management’s goodwill impairment assessment, including controls over the valuation of the seed reporting unit. These procedures also included, among others, (i) testing management’s process for developing the fair value estimate; (ii) evaluating the appropriateness of the discounted cash flow model; (iii) testing the completeness, accuracy, and relevance of underlying data used in the discounted cash flow model; and (iv) evaluating the reasonableness of significant assumptions used by management related to projected revenue, the weighted average cost of capital, and the terminal value. Evaluating management’s assumptions related to projected revenue and the terminal value involved evaluating whether the assumptions used by management were reasonable considering (i) the current and past performance of the reporting unit; (ii) the consistency with external market and industry data; and (iii) whether the assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were used to assist in the evaluation of the Company’s discounted cash flow model and the weighted average cost of capital and terminal value assumptions.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

February 8, 2024

We have served as the Company’s auditor since 1946.

F-73

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)	For the Year Ended December 31,
	2023		2022		2021
Net sales	$	17,226	$	17,455	$	15,655
Cost of goods sold	9,920		10,436		9,220
Research and development expense	1,337		1,216		1,187
Selling, general and administrative expenses	3,176		3,173		3,209
Amortization of intangibles	683		702		722
Restructuring and asset related charges - net	336		363		289
Other income (expense) - net	(448)		(60)		1,348
Interest expense	253		124		80
Income (loss) from continuing operations before income taxes	1,073		1,381		2,296
Provision for (benefit from) income taxes on continuing operations	147		199		512
Income (loss) from continuing operations after income taxes	926		1,182		1,784
Income (loss) from discontinued operations after income taxes	(194)		(58)		(53)
Net income (loss)	732		1,124		1,731
Net income (loss) attributable to noncontrolling interests	2		1		—
Net income (loss) attributable to EIDP, Inc.	$	730	$	1,123	$	1,731

See Notes to the Consolidated Financial Statements beginning on page F-79.

F-74

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Net income (loss)	$	732	$	1,124	$	1,731
Other comprehensive income (loss) - net of tax:
Cumulative translation adjustments	425		(340)		(573)
Adjustments to pension benefit plans	(190)		233		1,037
Adjustments to other benefit plans	29		191		(621)
Unrealized gain (loss) on investments	—		—		10
Derivative instruments	(135)		8		139
Total other comprehensive income (loss)	129		92		(8)
Comprehensive income (loss)	861		1,216		1,723
Comprehensive income (loss) attributable to noncontrolling interests - net of tax	2		1		—
Comprehensive income (loss) attributable to EIDP, Inc.	$	859	$	1,215	$	1,723

See Notes to the Consolidated Financial Statements beginning on page F-79.

F-75

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED BALANCE SHEETS

(In millions, except share and per share amounts)	December 31, 2023		December 31, 2022
Assets
Current assets
Cash and cash equivalents	$	2,644	$	3,190
Marketable securities	98		124
Accounts and notes receivable - net	5,488		5,701
Inventories	6,899		6,812
Other current assets	1,131		968
Total current assets	16,260		16,795
Investment in nonconsolidated affiliates	115		102
Property, plant and equipment	8,956		8,551
Less: Accumulated depreciation	4,669		4,297
Net property, plant and equipment	4,287		4,254
Goodwill	10,605		9,962
Other intangible assets	9,626		9,339
Deferred income taxes	584		479
Other assets	1,896		1,687
Total Assets	$	43,373	$	42,618
Liabilities and Equity
Current liabilities
Short-term borrowings and finance lease obligations	$	198	$	24
Accounts payable	4,280		4,895
Income taxes payable	174		183
Deferred revenue	3,406		3,388
Accrued and other current liabilities	2,347		2,258
Total current liabilities	10,405		10,748
Long-term debt	2,291		1,283
Long-term debt - Related party	—		789
Other noncurrent liabilities
Deferred income tax liabilities	899		1,119
Pension and other post-employment benefits	2,467		2,255
Other noncurrent obligations	1,651		1,675
Total noncurrent liabilities	7,308		7,121
Commitments and contingent liabilities
Stockholders’ equity
Preferred stock, without par value – cumulative; 23,000,000 shares authorized;      issued at December 31, 2023 and December 31, 2022:
$4.50 Series – 1,673,000 shares (callable at $120)	169		169
$3.50 Series – 700,000 shares (callable at $102)	70		70
Common stock, $0.30 par value; 1,800,000,000 shares authorized; 200 issued at December 31, 2023 and December 31, 2022	—		—
Additional paid-in capital	24,349		24,284
Retained earnings (accumulated deficit)	3,747		3,031
Accumulated other comprehensive income (loss)	(2,677)		(2,806)
Total EIDP, Inc. stockholders’ equity	25,658		24,748
Noncontrolling interests	2		1
Total equity	25,660		24,749
Total Liabilities and Equity	$	43,373	$	42,618

See Notes to the Consolidated Financial Statements beginning on page F-79.

F-76

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Operating activities
Net income (loss)	$	732	$	1,124	$	1,731
(Income) loss from discontinued operations after income taxes	194		58		53
Adjustments to reconcile net income (loss) to cash provided by (used for) operating activities:
Depreciation and amortization	1,211		1,223		1,243
Provision for (benefit from) deferred income tax	(438)		(288)		199
Net periodic pension and OPEB (credits) costs	138		(142)		(1,292)
Pension and OPEB contributions	(149)		(182)		(247)
Net (gain) loss on sales of property, businesses, consolidated companies, and investments	(22)		(18)		(21)
Restructuring and asset related charges - net	336		363		289
Other net loss	578		305		154
Changes in assets and liabilities, net
Accounts and notes receivable	358		(993)		(113)
Inventories	57		(1,715)		(422)
Accounts payable	(663)		807		526
Deferred Revenue	(11)		194		574
Other assets and liabilities	(913)		143		57
Cash provided by (used for) operating activities - continuing operations	1,408		879		2,731
Cash provided by (used for) operating activities - discontinued operations	(40)		(40)		(42)
Cash provided by (used for) operating activities	1,368		839		2,689
Investing activities
Capital expenditures	(595)		(605)		(573)
Proceeds from sales of property, businesses, and consolidated companies - net of cash divested	57		73		75
Acquisitions of businesses - net of cash acquired	(1,456)		—		—
Escrow funding associated with acquisitions	—		(36)		—
Investments in and loans to nonconsolidated affiliates	(32)		(12)		(4)
Purchases of investments	(148)		(344)		(204)
Proceeds from sales and maturities of investments	147		295		345
Proceeds from settlement of net investment hedge	42		—		—
Other investing activities, net	(2)		(3)		(1)
Cash provided by (used for) investing activities	(1,987)		(632)		(362)
Financing activities
Net change in borrowings (less than 90 days)	(6)		(13)		13
Proceeds from related party debt	29		48		52
Payments on related party debt	(818)		(1,422)		(1,349)
Proceeds from debt	3,429		1,358		419
Payments on debt	(2,309)		(1,140)		(421)
Proceeds from exercise of stock options	31		88		100
Other financing activities, net	(54)		(66)		(42)
Cash provided by (used for) financing activities	302		(1,147)		(1,228)
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents	(143)		(278)		(136)
Increase (decrease) in cash, cash equivalents and restricted cash equivalents	(460)		(1,218)		963
Cash, cash equivalents and restricted cash equivalents at beginning of period	3,618		4,836		3,873
Cash, cash equivalents and restricted cash equivalents at end of period	$	3,158	$	3,618	$	4,836
Supplemental cash flow information
Cash paid during the period for
Interest, net of amounts capitalized1	$	234	$	75	$	30
Income taxes	535		467		341

1.Reflects interest, net of amounts capitalized, paid to external parties. For information associated with interest paid on related party debt refer to EIDP's Note 2 - Related Party Transactions, of the EIDP Consolidated Financial Statements.

See Notes to the Consolidated Financial Statements beginning on page F-79.

F-77

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF EQUITY

(In millions)	Preferred Stock		Common Stock		Additional Paid-in Capital "APIC"		Retained Earnings (Accum Deficit)		Accumulated Other Comp Income (Loss)		Non-controlling Interests		Total Equity
Balance at January 1, 2021	$	239	$	—	$	24,049	$	203	$	(2,890)	$	—	$	21,601
Net income (loss)							1,731						1,731
Other comprehensive income (loss)									(8)				(8)
Share-based compensation					59		(3)						56
Preferred dividends ($4.50 Series - $4.50 per share, $3.50 Series - $3.50 per share)							(10)						(10)
Issuance of Corteva Stock					100								100
Other - net					(12)		1						(11)
Balance at December 31, 2021	$	239	$	—	$	24,196	$	1,922	$	(2,898)	$	—	$	23,459
Net income (loss)							1,123				1		1,124
Other comprehensive income (loss)									92				92
Share-based compensation					12		(2)						10
Preferred dividends ($4.50 Series - $4.50 per share, $3.50 Series - $3.50 per share)							(10)						(10)
Issuance of Corteva Stock					88								88
Other - net					(12)		(2)						(14)
Balance at December 31, 2022	$	239	$	—	$	24,284	$	3,031	$	(2,806)	$	1	$	24,749
Net income (loss)							730				2		732
Other comprehensive income (loss)									129				129
Share-based compensation					28		(2)						26
Preferred dividends ($4.50 Series - $4.50 per share, $3.50 Series - $3.50 per share)							(10)						(10)
Issuance of Corteva Stock					40								40
Other - net					(3)		(2)				(1)		(6)
Balance at December 31, 2023	$	239	$	—	$	24,349	$	3,747	$	(2,677)	$	2	$	25,660

See Notes to the Consolidated Financial Statements beginning on page F-79.

F-78

EIDP, Inc.

Notes to the Consolidated Financial Statements

Table of Contents

Note		Page
1	Basis of Presentation	F-81
2	Related Party Transactions	F-82
3	Income Taxes	F-82
4	Segment Information	F-83

F-79

EIDP, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 1 - BASIS OF PRESENTATION

Corteva, Inc. owns 100% of the outstanding common stock of EIDP. EIDP is a subsidiary of Corteva, Inc. and continues to be a reporting company, subject to the requirements of the Exchange Act. The primary differences between Corteva, Inc. and EIDP are outlined below:

•Preferred Stock - EIDP has preferred stock outstanding to third parties which is accounted for as a noncontrolling interest at the Corteva, Inc. level. Each share of EIDP Preferred Stock - $4.50 Series and EIDP Preferred Stock - $3.50 Series issued and outstanding at the effective date of the Corteva Distribution remains issued and outstanding as to EIDP and was unaffected by the Corteva Distribution.

•Related Party Loan - EIDP engaged in a series of debt redemptions during the second quarter of 2019 that were partially funded through an intercompany loan from Corteva, Inc. This was eliminated in consolidation at the Corteva, Inc. level but remains on EIDP's financial statements at the standalone level (including the associated interest).

•Capital Structure - At December 31, 2023, Corteva, Inc.'s capital structure consists of 701,260,000 issued shares of common stock, par value $0.01 per share.

The accompanying footnotes relate to EIDP only, and not to Corteva, Inc., and are presented to show differences between EIDP and Corteva, Inc.

For the footnotes listed below, refer to the footnotes from the Corteva 10-K:

•Note 1 - Background and Basis of Presentation - refer to page F-11 of the Corteva, Inc. Consolidated Financial Statements

•Note 2 - Summary of Significant Accounting Policies - refer to page F-12 of the Corteva, Inc. Consolidated Financial Statements

•Note 3 - Recent Accounting Guidance - refer to page F-17 of the Corteva, Inc. Consolidated Financial Statements

•Note 4 - Business Combinations - refer to page F-18 of the Corteva, Inc. Consolidated Financial Statements

•Note 5 - Revenue - refer to page F-19 of the Corteva, Inc. Consolidated Financial Statements

•Note 6 - Restructuring and Asset Related Charges - Net - refer to page F-22 of the Corteva, Inc. Consolidated Financial Statements

•Note 7 - Supplementary Information - refer to page F-25 of the Corteva, Inc. Consolidated Financial Statements

•Note 8 - Income Taxes - Differences exist between Corteva, Inc. and EIDP; refer to EIDP Note 3 - Income Taxes, of the EIDP Consolidated Financial Statements, below

•Note 9 - Earnings Per Share of Common Stock - Not applicable for EIDP

•Note 10 - Accounts and Notes Receivable - Net - refer to page F-31 of the Corteva, Inc. Consolidated Financial Statements

•Note 11 - Inventories - refer to page F-32 of the Corteva, Inc. Consolidated Financial Statements

•Note 12 - Property, Plant and Equipment - refer to page F-32 of the Corteva, Inc. Consolidated Financial Statements

•Note 13 - Goodwill and Other Intangible Assets - refer to page F-32 of the Corteva, Inc. Consolidated Financial Statements

•Note 14 - Leases - refer to page F-34 of the Corteva, Inc. Consolidated Financial Statements

•Note 15 - Long-Term Debt and Available Credit Facilities - refer to page F-35 of the Corteva, Inc. Consolidated Financial Statements. In addition, EIDP has a related party loan payable to Corteva, Inc.; refer to EIDP Note 2 - Related Party Transactions, of the EIDP Consolidated Financial Statements, below

•Note 16 - Commitments and Contingent Liabilities - refer to page F-37 of the Corteva, Inc. Consolidated Financial Statements

•Note 17 - Stockholders' Equity - refer to page F-46 of the Corteva, Inc. Consolidated Financial Statements

•Note 18 - Pension Plans and Other Post-Employment Benefits - refer to page F-49 of the Corteva, Inc. Consolidated Financial Statements

•Note 19 - Stock-Based Compensation - refer to page F-58 of the Corteva, Inc. Consolidated Financial Statements

•Note 20 - Financial Instruments - refer to page F-60 of the Corteva, Inc. Consolidated Financial Statements

•Note 21 - Fair Value Measurements - refer to page F-65 of the Corteva, Inc. Consolidated Financial Statements

•Note 22 - Geographic Information - refer to page F-66 of the Corteva, Inc. Consolidated Financial Statements

•Note 23 - Segment Information - Differences exist between Corteva, Inc. and EIDP; refer to EIDP Note 4 - Segment Information, of the EIDP Consolidated Financial Statements, below

F-80

EIDP, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 2 - 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.

The company repaid the outstanding related party revolving loan balance during the fourth quarter of 2023. As of December 31, 2022, the outstanding related party revolving loan balance was $789 million (which approximates fair value) with an interest rate of 6.52%. The balance at December 31, 2022 is reflected as long-term debt - related party on EIDP's Consolidated Balance Sheet. Additionally, EIDP has incurred tax deductible interest expense of $20 million, $46 million and $50 million and paid interest of $40 million, $48 million and $51 million for the years ended December 31, 2023, 2022 and 2021, respectively, associated with the related party loan to Corteva, Inc.

EIDP and Corteva, including certain consolidated subsidiaries (collectively the “Participating Companies”), are party to a Master In-House Banking Agreement, which established banking arrangements to facilitate the management of the cash and liquidity needs of the Participating Companies. As of December 31, 2023, EIDP had receivables from Corteva, Inc. of $377 million included in other assets in the Consolidated Balance Sheets related to this agreement.

As of December 31, 2023 and 2022, EIDP had payables to Corteva, Inc. of $30 million and $31 million, respectively, included in accrued and other current liabilities, and $106 million and $115 million, respectively, included in other noncurrent obligations in the Consolidated Balance Sheets, related to Corteva's indemnification liabilities to Dow and DuPont per the Separation Agreements (refer to page F-39 of the Corteva, Inc. Consolidated Financial Statements for further details of the Separation Agreements).

NOTE 3 - INCOME TAXES

Refer to page F-26 of the Corteva, Inc. Consolidated Financial Statements for discussion of tax items that do not differ between Corteva, Inc. and EIDP.

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations before income taxes
Domestic	$	(434)	$	(46)	$	892
Foreign	1,507		1,427		1,404
Income (loss) from continuing operations before income taxes	$	1,073	$	1,381	$	2,296
Current tax expense (benefit)
Federal	$	138	$	56	$	(23)
State and local	40		19		4
Foreign	407		403		329
Total current tax expense (benefit)	$	585	$	478	$	310
Deferred tax expense (benefit)
Federal	$	(326)	$	(170)	$	164
State and local	(50)		(39)		55
Foreign	(62)		(70)		(17)
Total deferred tax expense (benefit)	$	(438)	$	(279)	$	202
Provision for (benefit from) income taxes on continuing operations	147		199		512
Net income (loss) from continuing operations	$	926	$	1,182	$	1,784

F-81

EIDP, Inc.

Notes to the Consolidated Financial Statements (continued)

Reconciliation to U.S. Statutory Rate	For the Year Ended December 31,
	2023		2022		2021
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Effective tax rates on international operations - net1	(1.9)		(3.6)		(2.6)
Acquisitions, divestitures and ownership restructuring activities2	3.6		(5.5)		(0.1)
U.S. research and development credit	(6.0)		(2.3)		(2.5)
Exchange gains/losses3	2.0		3.8		1.9
State and local income taxes - net	0.9		0.2		2.2
Impact of Swiss Tax Changes4	(8.0)		—		0.2
Excess tax benefits/deficiencies from stock compensation	(0.6)		(0.7)		(0.2)
Tax settlements and expiration of statute of limitations	(0.4)		0.1		—
Repatriation of foreign earnings5	2.9		1.7		1.0
Other – net	0.2		(0.3)		1.3
Effective tax rate	13.7	%	14.4	%	22.2	%

1.    Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

2.     Includes a tax charge of $46 million for the year ended December 31, 2023 associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

3.    Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

4. Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

5.     Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

NOTE 4 - SEGMENT INFORMATION

There are no differences in reporting structure or segments between Corteva, Inc. and EIDP. In addition, there are no differences between Corteva, Inc. and EIDP segment net sales, segment operating EBITDA, segment assets, or significant items by segment; refer to page F-67 of the Corteva, Inc. Consolidated Financial Statements for background information on the segments as well as further details regarding segment metrics. The tables below reconcile income (loss) from continuing operations after income taxes to segment operating EBITDA, as differences exist between Corteva, Inc. and EIDP.

Reconciliation to Consolidated Financial Statements

Income (loss) from continuing operations after income taxes to segment operating EBITDA (In millions)	For the Year Ended December 31,
	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	926	$	1,182	$	1,784
Provision for (benefit from) income taxes on continuing operations	147		199		512
Income (loss) from continuing operations before income taxes	1,073		1,381		2,296
Depreciation and amortization	1,211		1,223		1,243
Interest income	(283)		(124)		(77)
Interest expense	253		124		80
Exchange losses - net	397		229		54
Non-operating (benefits) costs - net1	151		(111)		(1,256)
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges	—		—		—
Significant items	579		502		236
Corporate expenses	110		116		138
Segment operating EBITDA	$	3,491	$	3,340	$	2,714

1.The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

F-82

EIDP, Inc.

Notes to the Consolidated Financial Statements (continued)

ITEM 16.  FORM 10-K SUMMARY

Not applicable.

F-83

EX-21

Exhibit 21

SUBSIDIARIES OF THE REGISTRANT

Set forth below are certain subsidiaries of

Corteva, Inc.

Name	Organized Under Laws Of
AG (Shanghai) Agriculture Technology Co., Ltd.	Shanghai
Ag HoldCo Mexico S. de R.L. de C.V	México
AG MX 2, Inc.	Delaware
Agricor Ltd	Zimbabwe
Agrigenetics, Inc.	Delaware
Agro Corteva Argentina S.R.L.	Argentina
Agro Corteva Chile S.A.	Chile
Agro Corteva Colombia, S.A.	Colombia
Agro Cultivos Corteva Chile S.A.	Chile
AgroStollerec S.A.	Ecuador
AgSurf Corporation	Delaware
AgVenture, Inc.	Indiana
Alforex Seeds LLC	Delaware
Ambito Das S.A.	Argentina
Arbore Industria e Comercio de Fertilizantes Ltda.	São Paulo
Biotelliga Holdings Limited	New Zealand
Caszyme, UAB – Equity Investment	Lithuania
ChacoDAS S.A.	Argentina
Christiana Insurance LLC	Delaware
Corteva (China) Investment Co., Ltd. Beijing Branch	Beijing
Corteva (China) Investment Co., Ltd. Shanghai First Branch	Shanghai
Corteva (China) Investment Co., Ltd. Shanghai Second Branch	Shanghai
Corteva (China) Investment Co., Ltd.	Shanghai
Corteva (China), LLC	Delaware
Corteva Acquisition NLD B.V.	Bergen op Zoom
Corteva Agriscience (Cambodia) Co., Ltd.	Cambodia
Corteva Agriscience (Malaysia) Sdn. Bhd.	Malaysia
Corteva Agriscience (Myanmar) Company Limited	Myanmar
Corteva Agriscience (Nantong) Co., Ltd.	Jiangsu
Corteva Agriscience (Singapore) Pte. Ltd.	Singapore
Corteva Agriscience (Thailand) Co., Ltd.	Thailand
Corteva Agriscience AB	Stockholm
Corteva Agriscience Argentina S.R.L.	Argentina
Corteva Agriscience Australia PTY Ltd	Australia
Corteva Agriscience Austria GmbH	Eisenstadt
Corteva Agriscience Bangladesh Limited	Bangladesh
Corteva Agriscience Belgium B.V.	Brussels
Corteva Agriscience Bolivia S.A.	Bolivia
Corteva Agriscience Bulgaria EOOD	Bulgaria

Corteva Agriscience Canada Company	Nova Scotia
Corteva Agriscience Chile Limitada	Chile
Corteva Agriscience Costa Rica S.A.	Costa Rica
Corteva Agriscience Cote d'Ivoire SASU	Ivory Coast
Corteva Agriscience Croatia LLC	Zagreb
Corteva Agriscience Czech s.r.o.	Czech Republic
Corteva Agriscience de Colombia S.A.S.	Colombia
Corteva Agriscience de Ecuador S.A.	Ecuador
Corteva Agriscience Denmark A/S	Copenhagen
Corteva Agriscience Denmark A/S (Estonian Branch)	Tallinn
Corteva Agriscience Denmark A/S (Latvian Branch)	Riga
Corteva Agriscience do Brasil Ltda.	Brazil
Corteva Agriscience Egypt LLC	Egypt
Corteva Agriscience eSwatini Proprietary Limited	Swaziland
Corteva Agriscience Ethiopia PLC	Ethiopia
Corteva Agriscience Finland OY	Vantaa
Corteva Agriscience Foundation	Iowa
Corteva Agriscience France S.A.S.	Versailles
Corteva Agriscience Germany GmbH	Muenchen
Corteva Agriscience Guatemala S.A.	Guatemala
Corteva Agriscience Hellas S.A.	Greece
Corteva Agriscience Holding LLC	Delaware
Corteva Agriscience Holding Sàrl	Switzerland
Corteva Agriscience Holding Spain, S.L.	Sevilla
Corteva Agriscience Hungary Zrt.	Budapest
Corteva Agriscience India Private Limited	India
Corteva Agriscience International Sàrl	Geneva
Corteva Agriscience Italia S.r.l.	Cremona
Corteva Agriscience Japan Limited	Japan
Corteva Agriscience Kazakhstan Limited Liability Partnership	Kazakhstan
Corteva Agriscience Kenya Limited	Kenya
Corteva Agriscience Korea Ltd.	Korea
Corteva Agriscience Lithuania UAB	Vilnius
Corteva Agriscience LLC	Delaware
Corteva Agriscience Maroc SARL	Morocco
Corteva Agriscience MCS LLC	Iowa
Corteva Agriscience Mexico S. de R. L. de C. V.	México
Corteva Agriscience MW Limited	Malawi
Corteva Agriscience Netherlands B.V.	Bergen op Zoom
Corteva Agriscience New Zealand Ltd	New Zealand
Corteva Agriscience Nigeria Limited	Nigeria
Corteva Agriscience Pacific Limited	Hong Kong
Corteva Agriscience Pakistan Limited	Pakistan
Corteva Agriscience Paraguay S.A.	Paraguay
Corteva Agriscience Perú SAC	Peru
Corteva Agriscience Philippines, Inc.	Philippines
Corteva Agriscience Poland Sp. z o.o.	Warsaw

Corteva Agriscience Portugal, S.A.	Portugal
Corteva Agriscience Puerto Rico, Inc.	Iowa
Corteva Agriscience Romania S.R.L.	Romania
Corteva Agriscience RSA Proprietary Limited	Delaware
Corteva Agriscience RSA Proprietary Limited	South Africa
Corteva Agriscience Rus LLC	Russia
Corteva Agriscience S. de R.L. de C.V.	México
Corteva Agriscience Seeds Private Limited	India
Corteva Agriscience Services India Private Limited	India
Corteva Agriscience SLO d.o.o.	Slovenia
Corteva Agriscience Slovakia s.r.o.	Bratislava
Corteva Agriscience Spain, S.L.U.	Asturias
Corteva Agriscience SRB d.o.o.	Serbia
Corteva Agriscience Taiwan Co., Ltd.	Taiwan
Corteva Agriscience Tanzania Limited	Tanzania
Corteva Agriscience UK Limited	Cambridge
Corteva Agriscience Ukraine LLC	Ukraine
Corteva Agriscience Uruguay S.A.	Uruguay
Corteva Agriscience Vietnam Co., Ltd.	Vietnam
Corteva Agriscience Vzla, C.A.	Venezuela
Corteva Agriscience Worldwide, LLC	Delaware
Corteva Agriscience Zambia Limited	Zambia
Corteva Agriscience Zimbabwe (Private) Limited	Zimbabwe
Corteva Asia Pacific Inc.	Delaware
Corteva Asia Pacific Inc. Philippine Branch	Philippines
Corteva Biologics US, LLC	Delaware
Corteva Bolivia S.R.L.	Bolivia
Corteva CP Products SA (Pty) Ltd	South Africa
Corteva Crop (Singapore) Pte. Ltd.	Singapore
Corteva Crop India Private Limited	India
Corteva Crop Pakistan (Private) Limited	Pakistan
Corteva Crop Solutions HUN Kft.	Budapest
Corteva Crop Solutions Rom S.R.L.	Romania
Corteva Crop Solutions SA (Pty) Ltd	South Africa
Corteva Crop Taiwan Ltd.	Taiwan
Corteva Egypt Seeds S.A.E.	Egypt
Corteva Finance Company B.V.	Hoek
Corteva Global Holding II Inc.	Delaware
Corteva Global Holding Inc.	Delaware
Corteva Holding France S.A.S.	Versailles
Corteva Holding Mauritius Limited	Mauritius
Corteva Holding Netherlands 1 B.V.	Hoek
Corteva Holding Netherlands 2 B.V.	Bergen op Zoom
Corteva Holding Netherlands 3 B.V.	Bergen op Zoom
Corteva Holding Netherlands 4 B.V.	Bergen op Zoom
Corteva Holding SA (Pty) Ltd	South Africa
Corteva Holding Switzerland Sàrl	Geneva

Corteva Holding Zimbabwe (Private) Limited	Zimbabwe
Corteva Holdings NZ Limited	New Zealand
Corteva India Limited, LLC	Delaware
Corteva International Holding Corporation	Delaware
Corteva Investment Switzerland Sàrl	Geneva
Corteva Japan Ltd.	Japan
Corteva MX S.A. de C.V.	México
Corteva Seeds Argentina S.R.L.	Argentina
Corteva Seeds Paraguay S.R.L.	Paraguay
Corteva Seeds RSA Proprietary Limited	South Africa
Corteva Services Sàrl	Geneva
Corteva Turkey Tarim A.S.	Adana
Corteva Turkey Tohumculuk A.S.	Adana
Corteva US Feedstocks Company, LLC	Delaware
Corteva, Inc.	Delaware
CTVA Mexicana S. de R.L. de C.V.	México
CTVA Proteção de Cultivos Ltda.	Brazil
Daser Agro S.A.	Argentina
DDP AgroSciences Kenya Limited	Kenya
DDP AgroSciences Nigeria Limited	Nigeria
DDP AgroSciences US DCOMCO, LLC	Delaware
Desab S.A.	Argentina
Dikanka Nasinnia LLC	Ukraine
Dow AgroSciences B.V. (Philippines Branch Office)	Philippines
Dow AgroSciences Export SAS (Egypt Rep. Office)	Egypt
Dow Agrosciences Export SAS (Ivory Coast Rep Office)	Ivory Coast
Dow AgroSciences OOO	Russia
Dow AgroSciences Vertriebsgesellschaft m.b.H.	Eisenstadt
Dow AgroSciences Vertriebsgesellschaft m.b.H. (Russian Representative Office)	Russia
Dow AgroSciences Vertriebsgesellschaft m.b.H. (Ukraine Representative Office)	Ukraine
Dow Venezuela, C.A.	Venezuela
Dunhuang Seed Pioneer Hi-Bred Company Limited	Gansu
DuPont Capital Management Corporation	Delaware
DuPont Pioneer Investment Co., Ltd.	Beijing
DuPont Science and Technologies LLC	Russia
DuPont Ukraine LLC	Ukraine
EIDP, Inc	Delaware
Eyal S.A.	Uruguay
Fedea S.A.	Argentina
Glen Biotech, S.L.U.	San Vicente del Raspeig
Grainit S.R.L.	Italy
Granular Brasil Licenciamento e Distribuição de Software de Agricultura Ltda.	Brazil
Granular Canada Company	Nova Scotia
Granular, LLC	Delaware
Griffin L.L.C. Valdosta, Georgia	Delaware
Guang An LiVa Chemical Co., Ltd.	Sichuan
Hoegemeyer Hybrids, Inc.	Nebraska

Lavie Bio	Israel
Organic Symbiosis, S. de	Tlalnepantla De Baz
Orion Mexico, LLC	Delaware
Pannar Properties Zambia Limited	Zambia
Pannar Seed (Pty) Ltd.	South Africa
Pannar Seed (Zimbabwe) Private Limited	Zimbabwe
Pannar Seed Kenya Ltd.	Kenya
Pannar Seed Lda	Mozambique
PD Glycol LP	Texas
PHI Financial Services Canada Limited	Canada
PHI Financial Services, Inc.	Iowa
PHI Mexico, S.A. de C.V.	México
PhPhilippines Holdings Inc.	Philippines
Pioneer Argentina, S.R.L.	Argentina
Pioneer DuPont Zambia Limited	Zambia
Pioneer Génétique Sàrl	Toulouse
Pioneer Hi-Bred (Switzerland) S.A.	Geneva
Pioneer Hi-Bred (Thailand) Co. Limited	Thailand
Pioneer Hi-Bred Australia, Pty Ltd.	Australia
Pioneer Hi-Bred Canada Company	Nova Scotia
Pioneer Hi-Bred International Production Limited	Turks And Caicos Islands
Pioneer Hi-Bred International, Inc.	Iowa
Pioneer Hi-Bred Italia S.r.l.	Cremona
Pioneer Hi-Bred Italia Sementi S.r.l.	Parma
Pioneer Hi-Bred Italia Servizi Agronomici S.r.l.	Cremona
Pioneer Hi-Bred Magyarorszag Kft	Budapest
Pioneer Hi-Bred Northern Europe Sales Division GmbH	Muenchen
Pioneer Hi-Bred Northern Europe Sales Division GmbH (Austria Branch)	Eisenstadt
Pioneer Hi-Bred Northern Europe Sales Division GmbH (Belgium Branch)	Brussels
Pioneer Hi-Bred Northern Europe Sales Division GmbH (Czech Republic Branch)	Prague
Pioneer Hi-Bred Northern Europe Sales Division GmbH (Netherlands Branch)	Breda
Pioneer Hi-Bred Northern Europe Sales Division GmbH (UK Branch)	Cambridge
Pioneer Hi-Bred Northern Europe Service Division GmbH	Muenchen
Pioneer Hi-Bred Poland Sp z.o.o.	Warsaw
Pioneer HI-Bred Private Limited	India
Pioneer Hi-Bred Production Company	Nova Scotia
Pioneer Hi-Bred Romania S.R.L.	Romania
Pioneer Hi-Bred Spain, S.L.	Sevilla
Pioneer HI-Bred Vietnam Limited	Vietnam
Pioneer Mexico Holdings LLC	Iowa
Pioneer Overseas Corporation	Iowa
Pioneer Overseas Corporation (Branch in Belgium)	Brussels
Pioneer Overseas Corporation (Branch in Egypt)	Egypt
Pioneer Overseas Corporation (Branch in India)	India
Pioneer Overseas Corporation (Branch in Zimbabwe)	Zimbabwe
Pioneer Overseas Corporation (Singapore) Pte Ltd	Singapore
Pioneer Overseas Corporation	Luleburgaz

Pioneer Seeds, LLC	Iowa
Pioneer Semences S.A.S	Toulouse
Pioneer Tohumculuk Distribution and Marketing	Adana
Pitt-Consol Chemical Company	New Jersey
Prochrom Internacional S.A.	Uruguay
Production Agriscience (Australia) Pty Ltd	Australia
PT Corteva Agriscience Indonesia	Indonesia
PT Corteva Agriscience Manufacturing Indonesia	Indonesia
PT Corteva Agriscience Seeds Indonesia	Indonesia
Quimicas Stoller de Centro America Sociedad Anonima	Guatemala
Quorum Vital Investments, S.L.U.	Murcia
Rindes y Cultivos DAS S.A.	Argentina
Rizoflora - Biotecnologia Ltda.	Vicosa
Seed Consultants Inc.	Ohio
Semillas Pioneer de Venezuela C.A.	Venezuela
Shandong Denghai Pioneer Seeds Company Limited	Shangdong
Sporting Goods Properties, Inc.	Delaware
Stasi Nasinnia LLC	Ukraine
Stoller (Qingdao) Agricultural Technology Co., Ltd.	Qingdao
Stoller Argentina S.A.U.	Argentina
Stoller Australia Pty. Limited	Largs Bay
Stoller Bio Science India Private Limited	Pune
Stoller Biociencias SRL	C.A.B.A.
Stoller Colombia S.A.	Zipaquira
Stoller Costa Rica S.A.	San Jose
Stoller de Chile SpA	Chile
Stoller del Peru S.A.	Magdalena del Mar
Stoller do Brasil Ltda.	Brazil
Stoller Enterprises Export, Inc.	Texas
Stoller Enterprises, Inc.	Texas
Stoller Enterprises, Ltd.	Regina
Stoller Europe, S.L.U.	Alicante
Stoller Group, Inc.	Delaware
Stoller International, Inc.	Texas
Stoller México S.A. de C.V	Leon
Stoller Paraguay S.R.L.	Paraguay
Stoller Philippines, Inc.	San Juan
Stoller South Africa (Pty) Ltd	Nelspruit
Stoller Turkey Organik Tarim Sanayi Ticaret A.S.	Izmir
Stoller Uruguay SA	Montevideo
Stoller USA, Inc.	Texas
Sumidas JV S.A.	Argentina
Symborg (Shanghai) Trading Co, Ltd.	Shanghai
Symborg Business Development, S.L.U.	Murcia
Symborg Chile, SPA	Santiago, Chile
Symborg Corporate, S.L.U.	Murcia
Symborg Espana & Portugal, S.L.U.	Murcia
Symborg France, SASU	Bayonne
Symborg Participacoes Ltda.	São Paulo

Symborg Peru S.A.C.	Peru
Symborg Turkey Tarim A.S.	Antalya
Symborg, Inc.	California
Symborg, S.L.U.	Murcia
Terramar JV S.A.	Argentina
The Rep Office of Corteva Agriscience Netherlands B.V in Ho Chi Minh City	Vietnam
The Rep Office of DuPont Far East Inc, in Ho Chi Minh City	Vietnam
Thinkbio Europe, S.L.U.	Spain
ThinkBio Pty Ltd	Waverley
Tieling Pioneer Seed Research Co., Ltd. Jinan Branch	Shangdong
Tieling Pioneer Seed Research Co., Ltd. Sanya Branch	Hainan
Tieling Pioneer Seed Research Co., Ltd. Taiyuan Branch	Shanxi
Tieling Pioneer Seed Research Co., Ltd. Xinxiang Branch	Henan
Tieling Pioneer Seed Research Co., Ltd.	Liaoning
Tieling Pioneer Seed Research Co., Ltd., Beijing Branch	Beijing
Tieling Pioneer Seed Research Co., Ltd., Changchun Branch	Jiling
Ubajay DAS S.A.	Argentina

EX-23.1

Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the Registration Statements on FormS‑3 (No.333-264764) and Form S-8 (Nos. 333-231869 and 333-249887) of Corteva, Inc. of our report dated February 8, 2024 relating to the financial statements, financial statement schedule and the effectiveness of internal control over financial reporting of Corteva, Inc., which appears in this Form 10‑K.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

February 8, 2024

EX-23.2

Exhibit 23.2

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the Registration Statement on FormS‑3 (No.333-264764) of EIDP, Inc. of our report dated February 8, 2024 relating to the financial statements, financial statement schedule and the effectiveness of internal control over financial reporting of EIDP, Inc., which appears in this Form 10‑K.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

February 8, 2024

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Charles V. Magro, certify that:

1.I have reviewed this report on Form 10-K for the period ended December 31, 2023 of Corteva, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	February 8, 2024
By:	/s/ Charles V. Magro
	Charles V. Magro
	Chief Executive Officer

I, Charles V. Magro, certify that:

1.I have reviewed this report on Form 10-K for the period ended December 31, 2023 of EIDP, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	February 8, 2024
By:	/s/ Charles V. Magro
	Charles V. Magro
	Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, David J. Anderson, certify that:

1.I have reviewed this report on Form 10-K for the period ended December 31, 2023 of Corteva, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.     The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	February 8, 2024
By:	/s/ David J. Anderson
	David J. Anderson
	Executive Vice President and Chief Financial Officer

I, David J. Anderson, certify that:

1.I have reviewed this report on Form 10-K for the period ended December 31, 2023 of EIDP, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	February 8, 2024
By:	/s/ David J. Anderson
	David J. Anderson
	Executive Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

Certification of CEO Pursuant to

18 U.S.C. Section 1350,

As Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Annual Report of Corteva, Inc. (the "Company") on Form 10-K for the period ending December 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Charles V. Magro, as Chief Executive Officer of the Company, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Charles V. Magro

Charles V. Magro

Chief Executive Officer

February 8, 2024

Certification of CEO Pursuant to

18 U.S.C. Section 1350,

As Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Annual Report of EIDP, Inc. on Form 10-K for the period ending December 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Charles V. Magro, as Chief Executive Officer of EIDP, Inc., hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of EIDP, Inc.

/s/ Charles V. Magro

Charles V. Magro

Chief Executive Officer

February 8, 2024

EX-32.2

Exhibit 32.2

Certification of CFO Pursuant to

18 U.S.C. Section 1350,

As Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Annual Report of Corteva, Inc. (the "Company") on Form 10-K for the period ending December 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), David J. Anderson, as Chief Financial Officer of the Company, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ David J. Anderson

David J. Anderson

Executive Vice President and

Chief Financial Officer

February 8, 2024

Certification of CFO Pursuant to

18 U.S.C. Section 1350,

As Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Annual Report of EIDP, Inc. on Form 10-K for the period ending December 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), David J. Anderson, as Chief Financial Officer of EIDP, Inc., hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of EIDP, Inc.

/s/ David J. Anderson

David J. Anderson

Executive Vice President and

Chief Financial Officer

February 8, 2024

EX-97

Exhibit 97

CORTEVA, INC.

CLAWBACK POLICY

Administration.

    This Policy shall be administered and enforced by the People and Compensation Committee of the Company (the “Committee”) of Corteva, Inc. (the “Company”) and its decision as to all questions of interpretation and application of this Policy will be final, binding and conclusive on all persons.

    The Committee may delegate to a management committee (comprised of the Chief Executive Officer, the Chief Human Resources Officer and the General Counsel, or any of their respective delegates) the administration of this Policy with respect to Covered Employees who are not Section 16 Officers of the Company. The management committee will provide an update to the Committee on a regular basis, but at least annually, of any actions taken under this Policy.

    “Section 16 Officer” means any executive of the Company subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934, as amended, and as determined from time to time by the Company’s Board of Directors.

Covered Employees.

This Policy covers each current and former (i) Section 16 Officer, and (ii) individual identified as a Tier 2 Participant, a Tier 3 Participant or a Tier 4 Participant in the Corteva, Inc. Change in Control and Executive Severance Plan (each a “Grantee”). This Policy shall be deemed part of the terms of any Incentive Compensation (as defined below) award made on or after the effective date set forth above.

Recoupment.

If a Grantee engages in Misconduct (as defined herein), the Committee, in its sole discretion, may require: (i) forfeiture of any right to receive any future Incentive Compensation, and (ii) reimbursement for any amount received by the Grantee from any Incentive Compensation during the period commencing on the date the Misconduct occurred. The Committee may consider any of the following items in its determination: (i) whether the underlying conduct was an isolated occurrence, (ii) whether the misconduct was intentional or grossly negligent, and (iii) whether other disciplinary actions against the Grantee have been taken.

If the Company is required to prepare an Accounting Restatement (as defined herein), the Committee must recoup, through reimbursement and/or forfeiture, any excess Incentive Compensation received by any Section 16 Officer during the three completed fiscal years immediately preceding the date on which the Company is required to prepare an Accounting Restatement. The amount to be recovered, if any, will be the excess of the Incentive Compensation paid to the Section 16 Officer based on the erroneous data over the Incentive Compensation that would have been paid to the Grantee had it been based on the restated results (i.e., gross compensation, not after-tax), as determined by the Committee. If the Committee cannot determine the amount of the excess Incentive Compensation received by the Section 16 Officer from the information in the Accounting Restatement, then the Committee will make its determination based on a reasonable estimate of the effect of the Accounting Restatement.

For Grantees who are not Section 16 Officers, the forgoing recoupment policy with respect to Accounting Restatements may be applied at the Committee’s sole discretion. Any documentation of the determination of the Committee’s reasonable estimate must be retained and be made available consistent with New York Stock Exchange (NYSE) listing requirements.

The Grantee shall be required to provide repayment within ten (10) business days following such demand.

“Accounting Restatement” means any accounting restatement1 (i) required to be prepared due to the material noncompliance of the company with any financial reporting requirement under the securities laws; and (ii) required to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.

A “Financial Reporting Measure” is a measure that is determined and presented in accordance with the U.S. generally accepted accounting principles, and any measure derived wholly or in part from such measures, along with stock price and total shareholder return.

“Incentive Compensation” means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure, and includes, but is not limited to, any of the following: annual bonuses and other short- and long-term cash incentives, stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units and other equity-based compensation. Incentive Compensation is received in the fiscal period during which the Final Reporting Measure for the award is attained, even if payment or grant of the compensation occurs after the end of such fiscal period.

“Misconduct” means (i) Grantee’s employment or service is terminated by the Company or any Affiliate for Cause (as defined in the Corteva, Inc. 2019 Omnibus Incentive Plan, as amended from time to time (the “Plan”)), (ii) the material breach of a non-compete or confidentiality covenant set forth in any employment agreement or any other arrangement between the Grantee and the Company or an Affiliate or (iii) any conduct, other than that described in (i) or (ii), resulting from a willful violation of the Company’s Code of Conduct or other Company policies that causes significant financial or reputational harm to the Company.

Method of Recoupment.

    The Committee will determine, in its sole discretion, the method of recouping amounts hereunder, which may include: (i) requiring reimbursement of cash previously paid, (ii) seeking recovery of any gain realized on the vesting, exercise, settlement, sale, transfer or other disposition of any equity-based awards, (iii) offsetting the amount of the recoupment from any compensation otherwise owed by the Company to the Grantee, (iv) cancelling outstanding vested or unvested equity awards, and (v) taking any other remedial and recovery action permitted by law.

No Indemnification.

    The Company shall not indemnify any Grantee against the loss due to a recoupment hereunder.

Amendment.

    The Committee may amend this Policy from time to time in its discretion; provided, however, that the Chief Human Resources Officer is hereby authorized to make any and all amendments required under applicable laws, rules or regulations, including those necessary to comply with any rules or standards adopted by the U.S. Securities and Exchange Commission or NYSE.

Document Retention/Filing

The Chief Human Resources Officer and General Counsel, or their respective designees are hereby authorized to make any and all filings required by, and retain all documentation required under, the rules or standards adopted by the U.S. Securities and Exchange Commission or NYSE related to this Policy.

Other Recoupment Rights.

    Any right of recoupment under this Policy is in addition to, and not in lieu of, any other remedies or rights of recoupment that may be available to the Company pursuant to any similar provision in any employment agreement, equity award agreement or otherwise, any other policy of the Company applicable to the Grantee, and any other legal remedies available to the Company.

1An accounting restatement that corrects errors that are material to previously issued financial statements is commonly referred to as a “Big R” restatement, and a restatement that corrects errors that are not material to previously issued financial statements but would result in a material misstatement if the errors were left uncorrected in the current period, or the error correction was recognized in the current period, is commonly referred as a “little r” restatement. Both Big R and little R restatements are considered Accounting Restatements under this Policy.

Impracticability.

    The Committee need not make any recovery under this Policy if in the Committee’s judgment such recovery would be impracticable (e.g., the costs of enforcing recovery would exceed the recoverable amount or recovery would violate local law).

    With respect to recoveries of Section 16 Officer Incentive Compensation for Accounting Restatements, impracticable shall mean the Committee has determined the recovery is impracticable because:

i.The direct expense paid to a third party to assist in enforcing this Policy would exceed the amount to be recovered, after a reasonable and documented attempt to recover the erroneously awarded compensation, has been attempted.

ii.The recovery would violate the Section 16 Officer’s home country law (if the law was adopted prior to November 28, 2022) and can obtain an opinion of home country counsel, acceptable to the NYSE, that the recovery would result in such a violation.

iii.The recovery would likely cause an otherwise tax-qualified retirement plan, under which benefits are broadly available to employees, to fail to meet the requirements of Sections 402(a)(13) or 411(a) of the Internal Revenue Code and regulations thereunder.

Successors.

    This Policy shall be binding and enforceable against all Grantees and their beneficiaries, heirs, executors, administrators or other legal representatives.

* * *

Clawback policy effective October 9, 2019, amended on April 21, 2023 with changes effective on December 1, 2023.

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DEI Document - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 01, 2024	Jun. 30, 2023	Dec. 31, 2022	Jun. 26, 2019	Jun. 03, 2019
Document Information [Line Items]
Document Annual Report	true
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Entity Registrant Name	Corteva, Inc.
Entity Incorporation, State or Country Code	DE
Entity Central Index Key	0001755672
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
ICFR Auditor Attestation Flag	true
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
Aggregate market value			$ 40.6
Entity Common Stock, Shares Outstanding		701,783,000
Common Stock, Par Value	$ 0.01	$ 0.01		$ 0.01
Entity Small Business	false
Entity Shell Company	false
Document Transition Report	false
Entity File Number	001-38710
Entity Address, Address Line One	9330 Zionsville Road,
Entity Address, City or Town	Indianapolis,
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46268
City Area Code	(833)
Local Phone Number	267-8382
Documents Incorporated by Reference [Text Block]	Information pertaining to certain Items in Part III of this report is incorporated herein by reference to portions of Corteva, Inc.'s definitive 2022 Annual Meeting Proxy Statement to be filed within 120 days after the end of the year covered by this Annual Report on Form 10-K, pursuant to Regulation 14A (the Proxy).
Auditor Location	Philadelphia, Pennsylvania
Auditor Name	PricewaterhouseCoopers LLP
Other Address
Document Information [Line Items]
Entity Address, Address Line One	974 Centre Road,
Entity Address, City or Town	Wilmington,
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19805
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CTVA
Security Exchange Name	NYSE
EIDP
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Entity Registrant Name	EIDP, Inc.
Entity Incorporation, State or Country Code	DE
Entity Central Index Key	0000030554
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
ICFR Auditor Attestation Flag	true
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
Entity Common Stock, Shares Outstanding		200
Common Stock, Par Value		$ 0.30
Entity Small Business	false
Entity Shell Company	false
Entity File Number	1-815
Entity Address, Address Line One	9330 Zionsville Road,
Entity Address, City or Town	Indianapolis,
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46268
City Area Code	(833)
Local Phone Number	267-8382
EIDP | Other Address
Document Information [Line Items]
Entity Address, Address Line One	974 Centre Road,
Entity Address, City or Town	Wilmington,
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19805
EIDP | $3.50 Series Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	$3.50 Series Preferred Stock
Trading Symbol	CTAPrA
Security Exchange Name	NYSE
EIDP | $4.50 Series Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	$4.50 Series Preferred Stock
Trading Symbol	CTAPrB
Security Exchange Name	NYSE
Corteva [Member]
Document Information [Line Items]
Common Stock, Par Value					$ 0.01	$ 0.01

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Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Philadelphia, Pennsylvania
Auditor Firm ID	238

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Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Sales	$ 17,226	$ 17,455	$ 15,655
Cost of Goods Sold	9,920	10,436	9,220
Research and Development Expense	1,337	1,216	1,187
Selling, General and Administrative Expense	3,176	3,173	3,209
Amortization of Intangibles	683	702	722
Restructuring and Related Cost, Incurred Cost	336	363	289
Other income (expense) - net	(448)	(60)	1,348
Interest Expense	233	79	30
Income (loss) from continuing operations before income taxes	1,093	1,426	2,346
Provision for (benefit from) income taxes on continuing operations	152	210	524
Income (loss) from continuing operations after income taxes	941	1,216	1,822
Income (loss) from discontinued operations after income taxes	(194)	(58)	(53)
Net income (loss)	747	1,158	1,769
Net income (loss) attributable to noncontrolling interests	12	11	10
Net income (loss) attributable to Corteva	$ 735	$ 1,147	$ 1,759
Basic earnings (loss) per share of common stock from continuing operations	$ 1.31	$ 1.67	$ 2.46
Basic earnings (loss) per share of common stock from discontinued operations	(0.27)	(0.08)	(0.07)
Basic earnings (loss) per share of common stock	1.04	1.59	2.39
Diluted earnings (loss) per share of common stock from continuing operations	1.30	1.66	2.44
Diluted earnings (loss) per share of common stock from discontinued operations	(0.27)	(0.08)	(0.07)
Diluted earnings (loss) per share of common stock	$ 1.03	$ 1.58	$ 2.37
EIDP
Net Sales	$ 17,226	$ 17,455	$ 15,655
Cost of Goods Sold	9,920	10,436	9,220
Research and Development Expense	1,337	1,216	1,187
Selling, General and Administrative Expense	3,176	3,173	3,209
Amortization of Intangibles	683	702	722
Restructuring and Related Cost, Incurred Cost	336	363	289
Other income (expense) - net	(448)	(60)	1,348
Interest Expense	253	124	80
Income (loss) from continuing operations before income taxes	1,073	1,381	2,296
Provision for (benefit from) income taxes on continuing operations	147	199	512
Income (loss) from continuing operations after income taxes	926	1,182	1,784
Income (loss) from discontinued operations after income taxes	(194)	(58)	(53)
Net income (loss)	732	1,124	1,731
Net income (loss) attributable to noncontrolling interests		1	0
Net income (loss) attributable to Corteva	$ 730	$ 1,123	$ 1,731

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Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income (loss)	$ 747	$ 1,158	$ 1,769
Cumulative Translation Adjustments	425	(340)	(573)
Unrealized Gain (Loss) on Investments	0	0	10
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(135)	8	139
Total other comprehensive income (loss)	129	92	(8)
Comprehensive Income (Loss)	876	1,250	1,761
Comprehensive Income Attributable to Noncontrolling Interest- net of tax		11	10
Comprehensive Income (Loss) Attributable to Corteva	864	1,239	1,751
Pension Plan
Adjustments to other benefit plans	(190)	233	1,037
Other Benefit Plans
Adjustments to other benefit plans	29	191	(621)
EIDP
Net income (loss)	732	1,124	1,731
Cumulative Translation Adjustments	425	(340)	(573)
Unrealized Gain (Loss) on Investments	0	0	10
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(135)	8	139
Total other comprehensive income (loss)	129	92	(8)
Comprehensive Income (Loss)	861	1,216	1,723
Comprehensive Income Attributable to Noncontrolling Interest- net of tax	2	1	0
Comprehensive Income (Loss) Attributable to Corteva	859	1,215	1,723
EIDP | Pension Plan
Adjustments to other benefit plans	(190)	233	1,037
EIDP | Other Benefit Plans
Adjustments to other benefit plans	$ 29	$ 191	$ (621)

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Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023		Dec. 31, 2022
Cash and Cash Equivalents	$ 2,644		$ 3,191
Marketable Securities	98		124
Accounts and notes receivable - net	5,488		5,701
Inventories	6,899		6,811
Other current assets	1,131		968
Total current assets	16,260		16,795
Investments in nonconsolidated affiliates	115		102
Property, Plant and Equipment	8,956		8,551
Accumulated Depreciation	4,669		4,297
Net Property, Plant and Equipment	4,287		4,254
Goodwill	10,605		9,962
Other intangible assets	9,626	[1]	9,339
Deferred Income Taxes	584		479
Other Assets	1,519		1,687
Assets	42,996		42,618
Short-term borrowings and finance lease obligations	198		24
Accounts Payable	4,280		4,895
Income Taxes Payable	174		183
Deferred Revenue	3,406		3,388
Accrued and other current liabilities	2,351		2,254
Total current liabilities	10,409		10,744
Long-term Debt	2,291		1,283
Deferred Income Tax Liabilities	899		1,119
Pension and other post employment benefits - noncurrent	2,467		2,255
Other noncurrent obligations	1,651		1,676
Liabilities, Noncurrent	7,308		6,333
Common stock	7		7
Additional Paid in Capital	27,748		27,851
Retained earnings (accumulated deficit)	(41)		250
Accumulated other comprehensive income (loss)	(2,677)		(2,806)
Total Company Stockholders' Equity	25,037		25,302
Noncontrolling Interests	242		239
Total Stockholders' Equity	25,279		25,541
Total Liabilities and Equity	42,996		42,618
EIDP
Cash and Cash Equivalents	2,644		3,190
Marketable Securities	98		124
Accounts and notes receivable - net	5,488		5,701
Inventories	6,899		6,812
Other current assets	1,131		968
Total current assets	16,260		16,795
Investments in nonconsolidated affiliates	115		102
Property, Plant and Equipment	8,956		8,551
Accumulated Depreciation	4,669		4,297
Net Property, Plant and Equipment	4,287		4,254
Goodwill	10,605		9,962
Other intangible assets	9,626		9,339
Deferred Income Taxes	584		479
Other Assets	1,896		1,687
Assets	43,373		42,618
Short-term borrowings and finance lease obligations	198		24
Accounts Payable	4,280		4,895
Income Taxes Payable	174		183
Deferred Revenue	3,406		3,388
Accrued and other current liabilities	2,347		2,258
Total current liabilities	10,405		10,748
Long-term Debt	2,291		1,283
Deferred Income Tax Liabilities	899		1,119
Pension and other post employment benefits - noncurrent	2,467		2,255
Other noncurrent obligations	1,651		1,675
Liabilities, Noncurrent	7,308		7,121
Common stock	0		0
Additional Paid in Capital	24,349		24,284
Retained earnings (accumulated deficit)	3,747		3,031
Accumulated other comprehensive income (loss)	(2,677)		(2,806)
Total Company Stockholders' Equity	25,658		24,748
Noncontrolling Interests	2		1
Total Stockholders' Equity	25,660		24,749
Total Liabilities and Equity	43,373		42,618
EIDP | Related Party
Long-term Debt - Related Party	0		789
EIDP | $4.50 Series Preferred Stock [Member]
Preferred stock, without par value – cumulative; 23,000,000 shares authorized; issued at December 31, 2020 and December 31, 2019	169		169
EIDP | $3.50 Series Preferred Stock [Member]
Preferred stock, without par value – cumulative; 23,000,000 shares authorized; issued at December 31, 2020 and December 31, 2019	$ 70		$ 70

[1] Includes the intangible assets acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

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Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	1,666,667,000	1,666,667,000
Common Stock, Shares, Outstanding	701,260,000	713,419,000
EID [Member]
Common Stock, Par Value	$ 0.30	$ 0.30
Common Stock, Shares Authorized	1,800,000,000	1,800,000,000
Common Stock, Shares, Outstanding	200	200
EID [Member] | $4.50 Series Preferred Stock [Member]
Preferred Stock, Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	23,000,000	23,000,000
Preferred Stock, Shares Issued	1,673,000	1,673,000
Preferred Stock, Redemption Amount	$ 120	$ 120
EID [Member] | $3.50 Series Preferred Stock [Member]
Preferred Stock, Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	23,000,000	23,000,000
Preferred Stock, Shares Issued	700,000	700,000
Preferred Stock, Redemption Amount	$ 102	$ 102

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Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Net income (loss)		$ 747		$ 1,158		$ 1,769
Income (loss) from discontinued operations after income taxes		194		58		53
Depreciation and Amortization		1,211		1,223		1,243
Provision for (Benefit from) Deferred Income Tax		(438)		(288)		199
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash		138		(142)		(1,292)
Pension and OPEB contributions		149		182		247
Net gain on sales of property, businesses, consolidated companies, and investments		(22)		(18)		(21)
Restructuring and asset related charges- net		336		363		289
Other net loss		578		305		154
Accounts and Notes Receivable		358		(993)		(113)
Inventories		57		(1,715)		(422)
Accounts Payable		(663)		807		526
Deferred Revenue		(11)		194		574
Other Assets and Liabilities, Net		(527)		142		57
Net Cash Provided by (Used in) Operating Activities, Continuing Operations		1,809		912		2,769
Cash Provided by (Used in) Operating Activities, Discontinued Operations		(40)		(40)		(42)
Cash provided by (used for) operating activities		1,769		872		2,727
Capital expenditures		(595)		(605)		(573)
Proceeds from the sale of property, businesses, and consolidated companies, net of cash divested		57		73		75
Escrow funding associated with acquisitions		0		(36)		0
Acquisitions of businesses - Net of Cash Acquired		(1,456)		0		0
Investments in and loans to nonconsolidated affiliates		(32)		(12)		(4)
Purchases of investments		(148)		(344)		(204)
Proceeds from Sale and Maturities of Investments		147		295		345
Proceeds from Hedge, Investing Activities		42		0		0
Other investing activities - net		(2)		(3)		(1)
Cash provided by (used for) investing activities		(1,987)		(632)		(362)
Net Change in borrowings (less than 90 days)		(6)		(13)		13
Proceeds from Debt		3,429		1,358		419
Payments on Debt		(2,309)		(1,140)		(421)
Repurchase of Common Stock		(756)		(1,000)		(950)
Proceeds from Exercise of Stock Options		31		88		100
Dividends Paid to stockholders		(439)		(418)		(397)
Other financing activities		(49)		(55)		(30)
Cash provided by (used for) financing activities		(99)		(1,180)		(1,266)
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents		(143)		(278)		(136)
Increase (decrease) on cash, cash equivalents and restricted cash		(460)		(1,218)		963
Cash, cash equivalents and restricted cash equivalents at beginning of period		3,618	[1]	4,836	[1]	3,873
Cash, cash equivalents and restricted cash equivalents at end of period	[1]	3,158		3,618		4,836
Supplemental Cash Flow Information [Abstract]
Interest, net of amounts capitalized		234		75		30
Income Taxes		535		467		341
EIDP
Net income (loss)		732		1,124		1,731
Income (loss) from discontinued operations after income taxes		194		58		53
Depreciation and Amortization		1,211		1,223		1,243
Provision for (Benefit from) Deferred Income Tax		(438)		(288)		199
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash		138		(142)		(1,292)
Pension and OPEB contributions		149		182		247
Net gain on sales of property, businesses, consolidated companies, and investments		(22)		(18)		(21)
Restructuring and asset related charges- net		336		363		289
Other net loss		578		305		154
Accounts and Notes Receivable		358		(993)		(113)
Inventories		57		(1,715)		(422)
Accounts Payable		(663)		807		526
Deferred Revenue		(11)		194		574
Other Assets and Liabilities, Net		(913)		143		57
Net Cash Provided by (Used in) Operating Activities, Continuing Operations		1,408		879		2,731
Cash Provided by (Used in) Operating Activities, Discontinued Operations		(40)		(40)		(42)
Cash provided by (used for) operating activities		1,368		839		2,689
Capital expenditures		(595)		(605)		(573)
Proceeds from the sale of property, businesses, and consolidated companies, net of cash divested		57		73		75
Escrow funding associated with acquisitions		0		(36)		0
Investments in and loans to nonconsolidated affiliates		(32)		(12)		(4)
Purchases of investments		(148)		(344)		(204)
Proceeds from Sale and Maturities of Investments		147		295		345
Other investing activities - net		(2)		(3)		(1)
Cash provided by (used for) investing activities		(1,987)		(632)		(362)
Net Change in borrowings (less than 90 days)		(6)		(13)		13
Proceeds from Related Party Debt		29		48		52
Repayments of Related Party Debt		(818)		(1,422)		(1,349)
Proceeds from Debt		3,429		1,358		419
Payments on Debt		(2,309)		(1,140)		(421)
Proceeds from Exercise of Stock Options		31		88		100
Other financing activities		(54)		(66)		(42)
Cash provided by (used for) financing activities		302		(1,147)		(1,228)
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents		(143)		(278)		(136)
Increase (decrease) on cash, cash equivalents and restricted cash		(460)		(1,218)		963
Cash, cash equivalents and restricted cash equivalents at beginning of period		3,618		4,836		3,873
Cash, cash equivalents and restricted cash equivalents at end of period		3,158		3,618		4,836
Supplemental Cash Flow Information [Abstract]
Interest, net of amounts capitalized	[2]	234		75		30
Income Taxes		$ 535		$ 467		$ 341

[1] See page F-26 for reconciliation of cash and cash equivalents and restricted cash equivalents presented in the Consolidated Balance Sheets to total cash, cash equivalents and restricted cash equivalents presented in the Consolidated Statements of Cash Flows.

[2] Reflects interest, net of amounts capitalized, paid to external parties. For information associated with interest paid on related party debt refer to EIDP's Note 2 - Related Party Transactions, of the EIDP Consolidated Financial Statements.

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Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comp Loss	Noncontrolling Interest [Member]	EIDP	EIDP Preferred Stock [Member]	EIDP Common Stock [Member]	EIDP Additional Paid-in Capital [Member]	EIDP Retained Earnings [Member]	EIDP Accumulated Other Comp Loss	EIDP Noncontrolling Interest [Member]
Beginning Balance at Dec. 31, 2020	$ 25,063	$ 7	$ 27,707	$ 0	$ (2,890)	$ 239	$ 21,601	$ 239	$ 0	$ 24,049	$ 203	$ (2,890)	$ 0
Net income (loss)	1,769			1,759		10	1,731				1,731
Net other comprehensive income (loss)	(8)				(8)		(8)					(8)
Dividends, Common Stock	(397)		(97)	(300)
Dividends, Preferred Stock							(10)				(10)
Issuance of stock	100		100				100			100
Share-based compensation	56		59				56			59
Retained Earnings, Share-based Compensation				(3)							(3)
Common Stock Repurchase	(950)		(18)	(932)
Stockholders' Equity, Other	(10)					(10)	(11)			(12)	1
Ending Balance at Dec. 31, 2021	25,623	7	27,751	524	(2,898)	239	23,459	239	0	24,196	1,922	(2,898)	0
Net income (loss)	1,158			1,147		11	1,124				1,123		1
Net other comprehensive income (loss)	92				92		92					92
Dividends, Common Stock	(418)			(418)
Dividends, Preferred Stock							(10)				(10)
Issuance of stock	88		88				88			88
Share-based compensation	10		12				10			12
Retained Earnings, Share-based Compensation				(2)							(2)
Common Stock Repurchase	(1,000)			(1,000)
Stockholders' Equity, Other	(12)			(1)		(11)	(14)			(12)	(2)
Ending Balance at Dec. 31, 2022	25,541	7	27,851	250	(2,806)	239	24,749	239	0	24,284	3,031	(2,806)	1
Net income (loss)	747			735		12	732				730		2
Net other comprehensive income (loss)	129				129		129					129
Dividends, Common Stock	(439)			(439)
Dividends, Preferred Stock							(10)				(10)
Issuance of stock	40		40				40			40
Share-based compensation	26		28				26			28
Retained Earnings, Share-based Compensation				(2)							(2)
Common Stock Repurchase	(756)		(171)	(585)
Stockholders' Equity, Other	(9)					(9)	(6)			(3)	(2)		(1)
Ending Balance at Dec. 31, 2023	$ 25,279	$ 7	$ 27,748	$ (41)	$ (2,677)	$ 242	$ 25,660	$ 239	$ 0	$ 24,349	$ 3,747	$ (2,677)	$ 2

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Consolidated Statements of Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Common Stock Dividends	$ 0.58	$ 0.54	$ 0.52
$3.50 Series Preferred Stock [Member] | EID [Member]
Preferred Stock, Dividends Per Share	3.50	3.50	3.50
$4.50 Series Preferred Stock [Member] | EID [Member]
Preferred Stock, Dividends Per Share	$ 4.50	$ 4.50	$ 4.50

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Schedule II - Valuation and Qualifying Accounts (Notes)

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

Schedule II—Valuation and Qualifying Accounts (Corteva, Inc. and EIDP)

(Dollars in millions)

	For the Year Ended December 31,
	2023		2022		2021
Accounts Receivable—Allowance for Doubtful Receivables
Balance at beginning of period	$	194	$	210	$	208
Additions charged to expenses	24		3		6
Deductions from reserves1	(13)		(19)		(4)
Balance at end of period	$	205	$	194	$	210
Deferred Tax Assets—Valuation Allowance
Balance at beginning of period	$	342	$	366	$	453
Additions charged to expenses	225		87		97
Purchase Accounting Adjustments	8		—		—
Deductions from reserves2	(65)		(111)		(184)
Balance at end of period	$	510	$	342	$	366

1.    Deductions include write-offs, recoveries collected and currency translation adjustments.

2.     Deductions include currency translation adjustments.

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Background and Basis of Presentation (Notes)

12 Months Ended

Dec. 31, 2023

Intended Business Separations [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

BACKGROUND AND BASIS OF PRESENTATION

Corteva, Inc. is a leading global provider of seed and crop protection solutions focused on the agriculture industry. The company intends to leverage its rich heritage of scientific achievement to advance its robust innovation pipeline and continue to shape the future of responsible agriculture. The company's broad portfolio of agriculture solutions fuels farmer productivity around the globe. Corteva has two reportable segments: seed and crop protection. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information on the company's reportable segments.

Throughout these financial statements, except as otherwise noted by the context, the terms "Corteva" or "company" used herein mean Corteva, Inc. and its consolidated subsidiaries (including EIDP) and the term “EIDP” used herein means EIDP, Inc. (formerly known as E. I. du Pont de Nemours and Company) and its consolidated subsidiaries or EIDP, Inc. excluding its consolidated subsidiaries, as the context may indicate.

Principles of Consolidation and Basis of Presentation

The consolidated financial statements contained in this Annual Report were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for all periods presented and include the accounts of the company, its majority owned subsidiaries over which the company exercises control. The Consolidated Financial Statements and other financial information included in this Annual Report, unless otherwise specified, have been presented to separately show the effects of discontinued operations.

The company made the decision, which was retrospectively applied, to adjust the presentation of the Consolidated Statement of Cash Flows to separately show the cash provided by (used for) operating activities – discontinued operations, which was previously presented within cash provided by (used for) operating activities. See Note 16 – Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information on discontinued operations activities.

On June 1, 2019, Corteva, Inc. became an independent, publicly traded company through the completed separation (the “Separation”) of the agriculture business of DuPont de Nemours, Inc. (formerly known as DowDuPont Inc.) (“DowDuPont” or “DuPont”). The separation was effectuated through a pro rata distribution (the “Corteva Distribution”) of all of the then-issued and outstanding shares of common stock of Corteva, Inc.

Subsequent to the Merger, Historical Dow and EIDP engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups: agriculture, materials science and specialty products ("Internal Reorganization"). On April 1, 2019, DowDuPont completed the separation of its materials science business into a separate and independent public company by way of a distribution of Dow common stock to holders of DowDuPont's common stock (the “Dow Distribution” and together with the Corteva Distribution, the “Distributions”).

On April 1, 2019, Historical Dow entities, which held certain assets and liabilities aligned with Historical Dow’s agriculture business and the assets and liabilities associated with its specialty products business, respectively, were transferred and conveyed to DowDuPont.

On April 1, 2019 and May 1, 2019, EIDP’s materials science and specialty products entities, along with their respective assets and liabilities, were conveyed to Dow and DowDuPont, respectively. On May 2, 2019, DowDuPont conveyed Historical Dow agricultural entities to EIDP.

On May 6, 2019, the Board of Directors of DowDuPont approved the distribution of all the then issued and outstanding shares of common stock of Corteva, Inc., then a wholly-owned subsidiary of DowDuPont, to DowDuPont stockholders. On May 31, 2019, DowDuPont contributed EIDP to Corteva, Inc. and on June 1, 2019, the Separation was completed. Information related to the Corteva Distribution and its effect on the company's financial statements is discussed throughout these Notes to the Consolidated Financial Statements.

Since 2018, Argentina has been considered a hyper-inflationary economy under U.S. GAAP and therefore the U.S. Dollar (“USD”) is the functional currency for our related subsidiaries. Argentina contributes 4 percent and 3 percent to the company's annual net sales and segment operating EBITDA, respectively. The company remeasures net monetary assets and translates the financial statements utilizing the official Argentine Peso (“Peso”) to USD exchange rate. The ability to draw down Peso cash balances is limited at this time due to government restrictions and market availability of U.S. Dollars. The devaluation of the Peso relative to the USD over the last several years has resulted in the recognition of exchange losses (refer to Note 7 – Supplementary Information, to the Consolidated Financial Statements). As of December 31, 2023, a further 10 percent deterioration in the official Peso to USD exchange rate would reduce the USD value of our net monetary assets and negatively

impact pre-tax earnings by approximately $10 million. The company will continue to assess the implications to its operations and financial reporting.

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Consolidated Financial Statements include the accounts of the company and subsidiaries in which a controlling interest is maintained. For those consolidated subsidiaries in which the company's ownership is less than 100 percent, the outside stockholders' interests are shown as noncontrolling interests. Investments in affiliates over which the company has the ability to exercise significant influence but does not have a controlling interest are accounted for under the equity method.

The company is also involved with certain joint ventures accounted for under the equity method of accounting that are variable interest entities ("VIEs"). The company is not the primary beneficiary, as the nature of the company's involvement with each VIE does not provide it the power to direct the VIE's significant activities. Future events may require these VIEs to be consolidated if the company becomes the primary beneficiary. At December 31, 2023 and 2022, the maximum exposure to loss related to the nonconsolidated VIEs is not considered material to the Consolidated Financial Statements.

Use of Estimates in Financial Statement Preparation

The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The company’s consolidated financial statements include amounts that are based on management’s best estimates and judgments. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash equivalents represent investments with maturities of three months or less from time of purchase. They are carried at cost plus accrued interest.

Restricted Cash Equivalents

Restricted cash equivalents primarily consist of trust assets and contributions to the escrow accounts for the settlement of certain legal matters and the settlement of legacy PFAS matters and the associated qualified spend. Corteva classifies restricted cash equivalents as current or noncurrent based on the nature of the restrictions, which are included in other current assets and other assets, respectively, in the Consolidated Balance Sheets. See Note 7 - Supplementary Information, to the Consolidated Financial Statements, for further information.

Marketable Securities

Marketable securities represent investments in fixed and floating rate financial instruments with maturities greater than three months and up to twelve months at time of purchase. Investments classified as held-to-maturity are recorded at amortized cost. The carrying value approximates fair value due to the short-term nature of the investments. Investments classified as debt securities that are available-for-sale are carried at estimated fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income (loss) or current period earnings if an allowance for credit losses has been established. The cost of investments sold is determined by specific identification.

Fair Value Measurements

Under the accounting guidance for fair value measurements and disclosures, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The company uses the following hierarchy to classify assets and liabilities measured at fair value:

Level 1	–	Quoted market prices in active markets for identical assets or liabilities.
Level 2	–	Significant other observable inputs (e.g., quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs).
Level 3	–	Unobservable inputs for the asset or liability, which are valued based on management's estimates of assumptions that market participants would use in pricing the asset or liability.

Foreign Currency Translation

The company's worldwide operations utilize the USD or a related foreign currency as the functional currency, where applicable. The company identifies its separate and distinct foreign entities and groups the foreign entities into two categories: 1) extension of the parent or foreign subsidiaries operating in a hyper-inflationary environment (USD functional currency) and 2) self-contained (related foreign functional currency). If a foreign entity does not align with either category, factors are evaluated and a judgment is made to determine the functional currency. 

For foreign entities where the USD is the functional currency, all foreign currency-denominated asset and liability amounts are re-measured into USD at end-of-period exchange rates, except for inventories, prepaid expenses, property, plant and equipment, goodwill and other intangible assets, which are re-measured at historical rates. Foreign currency income and expenses are re-measured at average exchange rates in effect during each month, except for expenses related to balance sheet amounts re-measured at historical exchange rates. Exchange gains and losses arising from re-measurement of foreign currency-denominated monetary assets and liabilities are included in income in the period in which they occur.

For foreign entities where a related foreign currency is the functional currency, assets and liabilities denominated in the related foreign currencies are translated into USD at end-of-period exchange rates and the resultant translation adjustments are reported, net of their related tax effects, as a component of accumulated other comprehensive income (loss) in equity. Assets and liabilities denominated in other than the functional currency are re-measured into the functional currency prior to translation into USD and the resultant exchange gains or losses are included in income in the period in which they occur. Income and expenses are translated into USD at average exchange rates in effect during each month.

The company changes the functional currency of its separate and distinct foreign entities only when significant changes in economic facts and circumstances indicate clearly that the functional currency has changed.

Inventories

The company's inventories are valued at the lower of cost or net realizable value. Elements of cost in inventories include raw materials, direct labor and manufacturing overhead. Stores and supplies are valued at cost or net realizable value, whichever is lower; cost is generally determined by the average cost method.

As of December 31, 2023, approximately 60% and 40% of the company's inventories were accounted for under the first-in, first-out ("FIFO") and average cost methods, respectively. As of December 31, 2022, approximately 55% and 45% of the company's inventories were accounted for under the FIFO and average cost methods, respectively. Inventories accounted for under the FIFO method are primarily comprised of products with shorter shelf lives such as seeds. See Note 11 - Inventories, to the Consolidated Financial Statements, for further information.

The company establishes an obsolescence reserve for inventory based upon quality considerations and assumptions about future demand and market conditions.

Property, Plant and Equipment

Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is based on the estimated service lives of depreciable assets and is calculated using the straight-line method. Fully depreciated assets are retained in property and accumulated depreciation accounts until they are removed from service. When assets are surrendered, retired, sold, or otherwise disposed of, their gross carrying values and related accumulated depreciation are removed from the Consolidated Balance Sheets and included in determining gain or loss on such disposals. See Note 12 – Property, Plant and Equipment, to the Consolidated Financial Statements, for further information.

Goodwill and Other Intangible Assets

The company records goodwill when the purchase price of a business acquisition exceeds the estimated fair value of net identified tangible and intangible assets acquired. Goodwill is tested for impairment at the reporting unit level at least annually, or more frequently when events or changes in circumstances indicate that the fair value of a reporting unit has more likely than not declined below its carrying value. The company performs an annual goodwill impairment test in the fourth quarter.

When testing goodwill for impairment, the company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the company chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required. If additional quantitative testing is required, the reporting unit's fair value is compared with its carrying amount, and an impairment charge, if any, is recognized for the amount by which the carrying amount exceeds the reporting unit's fair value, limited to the amount of goodwill associated with the reporting unit. The company determines fair values for each of the reporting units using a

discounted cash flow model (a form of the income approach) or the market approach. Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. The company's significant assumptions in this analysis include future cash flow projections, weighted average cost of capital, the terminal growth rate, and the tax rate. Under the market approach, the company uses metrics of publicly traded companies or historically completed transactions for comparable companies. See Note 13 - Goodwill and Other Intangible Assets, to the Consolidated Financial Statements, for further information on goodwill.

Indefinite-lived intangible assets are tested for impairment at least annually; however, these tests are performed more frequently when events or changes in circumstances indicate that the asset may be impaired. Impairment exists when carrying value exceeds fair value. The company performs an impairment assessment using the multi-period excess earnings method (a form of the income approach) using Level 3 inputs within the fair value hierarchy. The significant assumptions used in the calculation include future cash flow projections, the discount rate, and the terminal growth rate. These significant assumptions involve management judgment and estimates relating to future operating performance and economic conditions that may differ from actual cash flows.

Definite-lived intangible assets are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging primarily from 2 years to 25 years. The company continually evaluates the reasonableness of the useful lives of these assets. Once these assets are no longer considered held and used, they are removed from the Consolidated Balance Sheets.

Acquisitions

Acquisitions are recorded using the acquisition method of accounting and recognizes and measures the identifiable assets acquired and liabilities assumed as of the acquisition date at fair value, where applicable. The excess, if any, of total consideration transferred in a business combination over the fair value of identifiable assets acquired and liabilities assumed is recognized as goodwill. Costs incurred as a result of a business combination other than costs related to the issuance of debt or equity securities are recorded in the period the costs are incurred. The company includes the operating results of acquired entities from their respective dates of acquisition.

Leases

The company determines whether an arrangement is a lease at the inception of the arrangement based on the terms and conditions in the contract. A contract contains a lease if there is an identified asset and the company has the right to control the asset. Operating lease right-of-use ("ROU") assets are included in other assets on the company’s Consolidated Balance Sheets. Operating lease liabilities are included in accrued and other current liabilities and other noncurrent obligations on the company’s Consolidated Balance Sheets. Finance lease assets are included in property, plant and equipment on the company’s Consolidated Balance Sheets. Finance lease liabilities are included in short-term borrowings and finance lease obligations and long-term debt on the company’s Consolidated Balance Sheets. 

Operating lease ROU assets represent the company’s right to use an underlying asset for the lease term and lease liabilities represent the company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the company’s leases do not provide the lessor's implicit rate, the company uses its incremental borrowing rate at the commencement date in determining the present value of lease payments. Lease terms include options to extend the lease when it is reasonably certain those options will be exercised. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The company recognizes lease expense for these leases on a straight-line basis over the lease term.

The company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all asset classes. In the Consolidated Statements of Operations, lease expense for operating leases is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. See Note 14 - Leases, to the Consolidated Financial Statements, for further information.

Impairment of Long-Lived Assets

The company evaluates the carrying value of long-lived assets to be held and used when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of a long-lived asset group is considered impaired when the total projected undiscounted cash flows from the assets are separately identifiable and are less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset group. The company's fair value methodology is an estimate of fair market value which is made based on prices of similar assets or other valuation methodologies including present value techniques. Long-lived assets to be disposed of by sale, if material, are classified as held for sale and reported at the lower of carrying amount or fair value less cost to sell, and depreciation is ceased. Long-lived assets to be disposed of other than by sale are classified as held and used until they are disposed of and reported at the lower of carrying amount or fair value. Depreciation is recognized over the remaining useful life of the assets.

Derivative Instruments

Derivative instruments are reported in the Consolidated Balance Sheets at their fair values. The company utilizes derivatives to manage exposures to foreign currency exchange rates and commodity prices. Changes in the fair values of derivative instruments that are not designated as hedges are recorded in current period earnings. For derivative instruments designated as cash flow hedges, the gain (loss) is reported in accumulated other comprehensive income (loss) until it is cleared to earnings during the same period in which the hedged item affects earnings. For derivative instruments designated as net investment hedges, the gain (loss) is reported within accumulated other comprehensive income (loss) until the subsidiary is divested.

In the event that a derivative designated as a hedge of a firm commitment or an anticipated transaction is terminated prior to the maturation of the hedged transaction, the net gain or loss in accumulated other comprehensive income (loss) generally remains in accumulated other comprehensive income (loss) until the item that was hedged affects earnings. If a hedged transaction matures, or is sold, extinguished, or terminated prior to the maturity of a derivative designated as a hedge of such transaction, gains or losses associated with the derivative through the date the transaction matured are included in the measurement of the hedged transaction and the derivative is reclassified as for trading purposes. Derivatives designated as hedges of anticipated transactions are reclassified as for trading purposes if the anticipated transaction is no longer probable.

The company included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. See Note 20 - Financial Instruments, to the Consolidated Financial Statements, for additional discussion regarding the company's objectives and strategies for derivative instruments.

Environmental Matters

Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the Consolidated Balance Sheets in accrued and other current liabilities and other noncurrent obligations at undiscounted amounts. Accruals for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the Consolidated Balance Sheets as accounts and notes receivable - net.

Environmental costs are capitalized if the costs extend the life of the property, increase its capacity, and/or mitigate or prevent contamination from future operations. Environmental costs are also capitalized in recognition of legal asset retirement obligations resulting from the acquisition, construction and/or normal operation of a long-lived asset. Costs related to environmental contamination treatment and cleanup are charged to expense. Estimated future incremental operations, maintenance and management costs directly related to remediation are accrued when such costs are probable and reasonably estimable.

Revenue Recognition

The company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the company expects to receive in exchange for those goods or services. To determine the revenue recognition for an arrangement considered to be a contract with a customer, the company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 5 - Revenue, to the Consolidated Financial Statements, for additional information on revenue recognition.

Prepaid Royalties

The company currently has certain third-party biotechnology trait license agreements, which require up-front and variable payments subject to the licensor meeting certain conditions. These payments are reflected as other current assets and other assets in the Consolidated Balance Sheets and are amortized to cost of goods sold in the Consolidated Statement of Operations as seeds containing the respective trait technology are utilized over the life of the license. The rate of royalty amortization expense recognized is based on the company’s strategic plans which include various assumptions and estimates including product portfolio, market dynamics, farmer preferences, growth rates and projected planted acres. Changes in factors and assumptions included in the strategic plans, including potential changes to the product portfolio in favor of internally developed biotechnology, could impact the rate of recognition of the relevant prepaid royalty.

At December 31, 2023, the balance of prepaid royalties reflected in other current assets and other assets in the Consolidated Balance Sheets was approximately $105 million and $25 million, respectively. The majority of the balance of prepaid royalties in other current assets relates to the company’s wholly owned subsidiary, Pioneer Hi-Bred International, Inc.’s (“Pioneer”) non-exclusive license in the United States and Canada for the Monsanto Company's Genuity® Roundup Ready 2 Yield® glyphosate

tolerance trait and Roundup Ready 2 Xtend® glyphosate and dicamba tolerance trait for soybeans (“Roundup Ready 2 License Agreement”). Each of these licensed technologies are now trademarks of the Bayer Group, which acquired the Monsanto Company in 2018. The prepaid royalty asset relates to a series of up-front, fixed and variable royalty payments to utilize the traits in Pioneer’s soybean product mix. The company’s historical expectation was that the technology licensed under the Roundup Ready 2 License Agreement would be used as the primary herbicide tolerance trait platform in the Pioneer® brand soybean through the term of the agreement. DAS and MS Technologies, L.L.C. jointly developed and own the Enlist E3TM herbicide tolerance trait for soybeans which provides tolerance to 2, 4-D choline in Enlist Duo® and Enlist One® herbicides, as well as glyphosate and glufosinate herbicides. In connection with the validation of breeding plans and large-scale product development timelines, during 2019 the company committed to accelerate the ramp up of the Enlist E3TM trait platform in the company’s soybean portfolio mix across all brands, including Pioneer® brands. During the five-year ramp-up period, the company has began to significantly reduce the volume of products with the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits, with expected minimal use of the trait platform thereafter for the remainder of the Roundup Ready 2 License Agreement (the “Transition Plan”). The rate of royalty expense has therefore increased significantly through higher amortization of the prepaid royalty as fewer seeds containing the respective trait are expected to be utilized.

In connection with the departure from these traits, beginning January 1, 2020 the company presents and discloses the non-cash accelerated prepaid royalty amortization expense as a component of restructuring and asset related charges - net, in the Consolidated Statement of Operations. The accelerated prepaid royalty amortization expense represents the difference between the rate of amortization based on the revised number of units expected to contain the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® trait technology and the variable cash rate per the Roundup Ready 2 License Agreement.

Further changes in factors and assumptions associated with usage of the trait platform licensed under the Roundup Ready 2 License Agreement, including the Transition Plan, could further impact the rate of recognition of the prepaid royalty and Consolidated Statement of Operations presentation of the accelerated prepaid royalty amortization expense.

Cost of Goods Sold

Cost of goods sold primarily includes the cost of manufacture and delivery, ingredients or raw materials, direct salaries, wages and benefits and overhead, non-capitalizable costs associated with capital projects, royalties and other operational expenses. No amortization of intangibles is included within cost of goods sold.

Research and Development

Research and development costs are expensed as incurred. Research and development expense includes costs (primarily consisting of employee costs, materials, contract services, research agreements, and other external spend) relating to the discovery and development of new products.

Selling, General and Administrative Expenses

Selling, general and administrative expenses primarily include selling and marketing expenses, commissions, functional costs, and business management expenses.

Litigation and Other Contingencies

Accruals for legal matters and other contingencies are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Legal costs, such as outside counsel fees and expenses, are charged to expense in the period incurred.

Severance Costs

Severance benefits are provided to employees under the company's ongoing benefit arrangements. Severance costs are accrued when management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated.

Insurance/Self-Insurance

The company self-insures certain risks where permitted by law or regulation, including workers' compensation, vehicle liability and employee related benefits. Liabilities associated with these risks are estimated in part by considering historical claims experience, demographic factors and other actuarial assumptions. For other risks, the company uses a combination of insurance and self-insurance, reflecting comprehensive reviews of relevant risks. A receivable for an insurance recovery is generally recognized when the loss has occurred and collection is considered probable.

Income Taxes

The company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities using enacted tax rates. The effect of a change in tax rates on deferred tax assets or liabilities is recognized in income in the period that includes the enactment date.

The company recognizes the financial statement effects of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. The current portion of uncertain income tax positions is included in income taxes payable or income tax receivable, and the long-term portion is included in other noncurrent obligations or other noncurrent assets in the Consolidated Balance Sheets.

Income tax related penalties are included in the provision for (benefit from) income taxes in the Consolidated Statements of Operations. Interest accrued related to unrecognized tax benefits is included within the provision for (benefit from) income taxes from continuing operations in the Consolidated Statements of Operations.

Earnings per Common Share

The calculation of earnings per common share is based on the weighted-average number of the company’s common shares outstanding for the applicable period. The calculation of diluted earnings per common share reflects the effect of all potential common shares that were outstanding during the respective periods, unless the effect of doing so is antidilutive.

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Recent Accounting Guidance

12 Months Ended

Dec. 31, 2023

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Guidance

RECENT ACCOUNTING GUIDANCE

Recently Adopted Accounting Guidance

In September 2022, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update ("ASU") 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. This ASU includes amendments that require a buyer in supplier finance programs to disclose key terms of the programs and related obligations, including a rollforward of such obligations. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the rollforward requirements, which are effective for fiscal years beginning after December 15, 2023, and early adoption is permitted. Retrospective application to all periods in which a balance sheet is presented is required, except for the rollforward requirement, which will be applied prospectively. The company adopted this guidance on January 1, 2023 which resulted in certain disclosures being added relating to supplier financing programs and related obligations. See Note 16 – Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information.

Accounting Guidance Issued But Not Adopted as of December 31, 2023

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as reconciling items that meet a quantitative threshold. Further, the ASU requires additional disclosures on income tax expense and taxes paid, net of refunds received, by jurisdiction. The new standard is effective for annual periods beginning after December 15, 2024 on a prospective basis with the option to apply it retrospectively. Early adoption is permitted. The adoption of this guidance will result in the company being required to include enhanced income tax related disclosures.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU includes amendments that expand the existing reportable segment disclosure requirements and requires disclosure of (i) significant expense categories and amounts by reportable segment as well as the segment’s profit or loss measure(s) that are regularly provided to the chief operating decision maker (the “CODM”) to allocate resources and assess performance; (ii) how the CODM uses each reported segment profit or loss measure to allocate resources and assess performance; (iii) the nature of other segment balances contributing to reported segment profit or loss that are not captured within segment revenues or expenses; and (iv) the title and position of the individual or name of the group or committee identified as the CODM. This guidance requires retrospective application to all prior periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The adoption of this guidance will result in the company being required to include enhanced disclosures relating to its reportable segments.

In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement. The amendments in this ASU are intended to facilitate consistency in the application of accounting guidance upon the formation of entities qualifying as joint ventures. It generally requires the use of business combinations accounting at the joint venture formation date, which would result in the contributed assets/liabilities being

revalued to fair value and potentially result in the recognition of goodwill and other intangibles on the joint venture’s financial statements. It does not alter the ongoing accounting for the joint venture’s operations. This guidance is effective for joint ventures with formation dates on or after January 1, 2025. Prospective application is required, with early adoption permitted. Retrospective application can be elected for joint ventures formed before January 1, 2025. The company does not expect the impact of adoption to be material.

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Business Combinations and Asset Acquisitions

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Business Combination Disclosure

BUSINESS COMBINATIONS

On March 1, 2023 ("Acquisition Date"), Corteva completed its previously announced acquisitions of all the outstanding equity interests in Stoller Group, Inc. (“Stoller”), one of the largest independent companies in the Biologicals industry, and Quorum Vital Investment, S.L. and its affiliates (“Symborg”), an expert in microbiological technologies. The purchase price for Stoller and Symborg was $1,220 million, inclusive of a working capital adjustment, and $370 million, respectively. These acquisitions supplement the crop protection business with additional biological tools that complement evolving farming practices.

The operating results of Stoller and Symborg, since the Acquisition Date, did not have a material impact to the company's Consolidated Financial Statements for the year ended December 31, 2023. Additionally, supplemental pro forma information have not been presented since the reported amounts in the company's Consolidated Financial Statements for the current period and comparative prior periods would not be materially different had these acquisitions occurred as of January 1, 2022.

Purchase Price Allocation

The company performed a preliminary purchase price allocation and assessment of the fair value of the assets acquired and liabilities assumed as of the Acquisition Date. The company continues to evaluate aspects of net working capital and income tax related amounts and will finalize the purchase price allocation as it obtains the information necessary to complete the valuation during the measurement period. The effect of measurement period adjustments to the estimated fair values will be reflected as if the adjustments had been completed on the Acquisition Date.

The following table summarizes the preliminary purchase price allocation to the assets acquired and liabilities assumed for the Stoller and Symborg acquisitions, as of the Acquisition Date:

(In millions)	Stoller1		Symborg1
Assets
Cash and cash equivalents	$	97	$	—
Accounts and notes receivable	243		17
Inventories	81		10
Other current assets	9		2
Property, plant and equipment	71		3
Goodwill	383		129
Other intangible assets	645		300
Deferred income taxes	10		—
Other assets	5		1
Total assets acquired	$	1,544	$	462
Liabilities
Short-term borrowings	59		—
Accounts payable	25		13
Income taxes payable	2		—
Accrued and other current liabilities	65		4
Long-term debt	2		—
Deferred income tax liabilities	150		74
Other noncurrent obligations	21		1
Total liabilities assumed	$	324	$	92
Net assets acquired	$	1,220	$	370

1.Includes preliminary measurement period adjustments, which were not material.

The significant fair value adjustments included in the preliminary purchase price allocation are discussed below.

Inventories

Acquired inventories in connection with the acquisition of Stoller and Symborg are primarily comprised of finished goods and raw materials. The fair value of finished goods was calculated as the estimated selling price, adjusted for costs of the selling effort and a reasonable profit allowance relating to the selling effort. The fair value of raw materials and supplies was determined based on replacement cost which approximates historical carrying value. The fair value step-up was recognized within cost of goods sold, in the Consolidated Statements of Operations, as the inventory was sold.

Property, Plant & Equipment

Property, plant and equipment associated with Stoller is comprised of $31 million of machinery and equipment, $31 million of buildings, $7 million of land and land improvements, and $2 million of construction in progress. The preliminary estimated fair value was primarily determined using a market approach for land and certain types of equipment, and a replacement cost approach for the remaining depreciable property, plant and equipment. The market approach for certain types of equipment represents a sale comparison that measures the value of an asset through an analysis of sales and offerings of comparable assets. The replacement cost approach used for all other depreciable property, plant and equipment measures the value of an asset by estimating the cost to acquire or construct comparable assets and adjust for age and condition of the asset.

Goodwill

The excess of the consideration for Stoller and Symborg over the preliminary net fair value of assets acquired and liabilities assumed resulted in the recognition of goodwill, which has been assigned to the crop protection reporting unit. Goodwill associated with these acquisitions is attributable to the assembled workforce and expanding the company’s addressable market position. None of the goodwill recognized will be deductible for income tax purposes.

Other Intangible Assets

In connection with the acquisitions of Stoller and Symborg, the company recorded certain intangible assets, as shown in the table below, representing the preliminary fair values at the Acquisition Date.

Intangible Assets	Stoller			Symborg
(in millions)	Fair Value		Weighted-Average Amortization Period (Years)	Fair Value		Weighted-Average Amortization Period (Years)
Intangible assets with finite lives:
Customer-related	$	495	13	$	—	—
Developed technology	106		13	238		12
Trademarks/ trade names	44		15	57		12
Total other intangible assets with finite lives	$	645	13	$	295	12
Intangible assets with infinite lives:
IPR&D	—		—	5		—
Total other intangible assets with indefinite lives	$	—	—	$	5	—
Total intangible assets	$	645		$	300

The preliminary customer-related and in-process research and development (“IPR&D”) intangible asset’s fair values were determined using the multi-period excess earnings method. The preliminary developed technology fair values were determined utilizing the relief from royalty method for Stoller and the multi-period excess earnings method for Symborg. The trademark/trade name fair values were determined utilizing the relief from royalty method.

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Revenue (Notes)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Revenue Recognition

Products

Substantially all of Corteva's revenue is derived from product sales, which consist of sales of Corteva's products to farmers, distributors, and manufacturers. Corteva considers purchase orders, which in some cases are governed by master supply agreements, to be a contract with a customer. Contracts with customers are considered to be short-term when the time between order confirmation and satisfaction of the performance obligations is equal to or less than one year. However, the company has some long-term contracts which can span multiple years.

Revenue from product sales is recognized when the customer obtains control of the company's product, which occurs at a point in time according to shipping terms. Payment terms are generally less than one year from invoicing. The company elected the practical expedient and does not adjust the promised amount of consideration for the effects of a significant financing component when the company expects it will be one year or less between when a customer obtains control of the company's product and when payment is due. When the company performs shipping and handling activities after the transfer of control to the customer (e.g., when control transfers prior to or at shipment), these are considered fulfillment activities, and accordingly, the costs are accrued when the related revenue is recognized. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenues. In addition, the company elected the practical expedient to expense any costs to obtain contracts as incurred, as the amortization period for these costs would have been one year or less.

The transaction price includes estimates of variable consideration, such as rights of return, rebates, and discounts, that are reductions in revenue. All estimates are based on the company's historical experience, anticipated performance, and the company's best judgment at the time the estimate is made. Estimates of variable consideration included in the transaction price primarily utilize the expected value method based on historical experience. These estimates are reassessed each reporting period and are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur upon resolution of uncertainty associated with the variable consideration. The majority of contracts have a single performance obligation satisfied at a point in time and the transaction price is stated in the contract, usually as quantity times price per unit. For contracts with multiple performance obligations, the company allocates the transaction price to each performance obligation based on the relative standalone selling price. The standalone selling price is the observable price which depicts the price as if sold to a similar customer in similar circumstances.

Licenses of Intellectual Property

Corteva enters into licensing arrangements with customers under which it licenses its intellectual property. Revenue from the majority of intellectual property licenses is derived from sales-based royalties. Revenue for licensing agreements that contain sales-based royalties is recognized at the later of (i) when the subsequent sale occurs or (ii) when the performance obligation to which some or all of the royalty has been allocated is satisfied.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. The company applies the practical expedient to disclose the transaction price allocated to the remaining performance obligations for only those contracts with an original duration of more than one year. The transaction price allocated to remaining performance obligations with an original duration of more than one year related to material rights granted to customers for contract renewal options were $134 million and $131 million at December 31, 2023 and December 31, 2022, respectively. The company expects revenue to be recognized for the remaining performance obligations evenly over the period of one year to six years.

Contract Balances

Contract liabilities primarily reflect deferred revenue from prepayments under contracts with customers where the company receives advance payments for products to be delivered in future periods. Corteva classifies deferred revenue as current or noncurrent based on the timing of when the company expects to recognize revenue. Contract assets primarily include amounts related to conditional rights to consideration for completed performance not yet invoiced. Accounts receivable are recorded when the right to consideration becomes unconditional.

Contract Balances	December 31, 2023		December 31, 2022
(In millions)
Accounts and notes receivable - trade1	$	4,329	$	4,261
Contract assets - current2	27		26
Contract assets - noncurrent3	67		64
Deferred revenue - current	3,406		3,388
Deferred revenue - noncurrent4	108		107

1.Included in accounts and notes receivable - net in the Consolidated Balance Sheets.

2.Included in other current assets in the Consolidated Balance Sheets.

3.Included in other assets in the Consolidated Balance Sheets.

4.Included in other noncurrent obligations in the Consolidated Balance Sheets.

Revenue recognized during the year ended December 31, 2023, 2022, and 2021 from amounts included in deferred revenue at the beginning of the period was $3,342 million, $3,150 million, and $2,613 million, respectively.

Disaggregation of Revenue

Corteva's operations are classified into two reportable segments: Seed and Crop Protection. The company disaggregates its revenue by major product line and geographic region, as the company believes it best depicts the nature, amount and timing of its revenue and cash flows. Net sales by major product line are included below:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Corn	$	6,447	$	5,955	$	5,618
Soybean	1,858		1,810		1,568
Other oilseeds	708		714		752
Other	459		500		464
Seed	9,472		8,979		8,402
Herbicides	4,034		4,591		3,815
Insecticides	1,598		1,831		1,730
Fungicides	1,112		1,450		1,310
Other	1,010		604		398
Crop Protection	7,754		8,476		7,253
Total	$	17,226	$	17,455	$	15,655

Sales are attributed to geographic regions based on customer location. Net sales by geographic region and segment are included below:

Seed	For the Year Ended December 31,
(In millions)	2023		2022		2021
North America1	$	5,768	$	5,178	$	5,004
EMEA2	1,622		1,609		1,599
Latin America	1,637		1,758		1,420
Asia Pacific	445		434		379
Total	$	9,472	$	8,979	$	8,402

Crop Protection	For the Year Ended December 31,
(In millions)	2023		2022		2021
North America1	$	2,822	$	3,116	$	2,532
EMEA2	1,745		1,647		1,524
Latin America	2,269		2,687		2,125
Asia Pacific	918		1,026		1,072
Total	$	7,754	$	8,476	$	7,253

1.Represents U.S. & Canada.

2.Europe, Middle East, and Africa ("EMEA").

Refer to Note 22 - Geographic Information for the breakout of consolidated net sales by geographic area.

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Restructuring and Asset Related Charges

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

RESTRUCTURING AND ASSET RELATED CHARGES - NET

Crop Protection Operations Strategy Restructuring Program

On November 5, 2023, management of the company approved a plan to further optimize its Crop Protection network of manufacturing and external partners (the "Crop Protection Operations Strategy Program"). The plan includes the exit of the company’s production activities at its site in Pittsburg, California, as well as ceasing operations in select manufacturing lines at other locations.

The company expects to record aggregate pre-tax restructuring and asset related charges of $410 million to $460 million, comprised of $70 million to $90 million of severance and related benefit costs, $320 million to $340 million of asset-related and impairment charges and $20 million to $30 million of costs related to contract terminations. Reductions in workforce are subject to local regulatory requirements. Asset-related charges include non-cash impairments charges of $152 million, which were recognized during the year ended December 31, 2023 and consisted of $92 million and $60 million relating to operating lease assets and property, plant and equipment, respectively, associated with the exit of the company’s production activities at its site in Pittsburg, California.

Future cash payments related to these charges are anticipated to be $90 million to $120 million, which primarily relate to the payment of severance and related benefits and contract terminations. During the year ended December 31, 2023, the company paid $3 million associated with these charges. The restructuring actions associated with these charges are expected to be substantially complete in 2024.

The charges of $217 million related to the Crop Protection Operations Strategy Program for the year ended December 31, 2023 impacted the crop protection segment. This amount excludes charges relating to spare parts write-offs, which also impacted the crop protection segment, included in cost of goods sold, in the company’s Consolidated Statement of Operations. See Note 23 – Segment Information, to the Consolidated Financial Statements, for additional information.

The following table is a summary of charges incurred related to the Crop Protection Strategy Operations Program for the year ended December 31, 2023:

(In millions)	For the Year Ended December 31, 2023
Asset related charges1	$	214
Contract termination charges	3
Total restructuring and asset related charges - net2	$	217

1.Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment, as noted above.

2.This amount excludes charges relating to spare parts write-offs included in cost of goods sold, in the company’s Consolidated Statement of Operations, as noted above.

A reconciliation of the December 31, 2022 to the December 31, 2023 liability balances related to the Crop Protection Operations Strategy Program is summarized below:

(In millions)	Asset Related1		Contract Termination		Total
Balance at December 31, 2022	$	—	$	—	$	—
Charges to income from continuing operations	214		3		217
Payments	—		(3)		(3)
Asset write-offs	(214)		—		(214)
Balance at December 31, 2023	$	—	$	—	$	—

1.Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment, as noted above.

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”). Through the year ended December 31, 2023, the company recorded net pre-tax restructuring and other charges of $373 million inception-to-date under the 2022 Restructuring Actions, consisting of $131 million of severance and related benefit costs, $116 million of asset related charges, $67 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 as actions associated with this charge are substantially complete.

Cash payments related to these charges are anticipated to be up to $210 million, of which approximately $150 million has been paid through December 31, 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 substantially complete.

The total net pre-tax restructuring and other charges recognized through the year ended December 31, 2023 included $53 million associated with the Russia Exit. The Russia Exit net pre-tax restructuring charges consisted of $6 million of severance and related benefit costs, $6 million of asset related charges, and $30 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 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 years ended December 31, 2023 and 2022 were as follows:

	For the Year Ended December 31,
(In millions)	2023		2022
Seed	$	17	$	120
Crop Protection	5		41
Corporate expenses	20		111
Total1	$	42	$	272

1.This amount excludes other pre-tax charges recorded during the years ended December 31, 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 company's Consolidated Statement of Operations, respectively. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information.

The following table is a summary of charges incurred related to the 2022 Restructuring Actions for the years ended December 31, 2023 and 2022:

	For the Year Ended December 31,
(In millions)	2023		2022
Severance and related benefit costs	$	20	$	111
Asset related charges	12		104
Contract termination charges1	10		57
Total restructuring and asset related charges - net2	$	42	$	272

1.Contract terminations includes early lease terminations.

2.This amount excludes other pre-tax charges recorded during the year ended December 31, 2023 and 2022 included in cost of goods sold and other income (expense) – net, in the company’s Consolidated Statement of Operations, as noted above.

A reconciliation of the December 31, 2022 to the December 31, 2023 liability balances related to the 2022 Restructuring Actions is summarized below:

(In millions)	Severance and Related Benefit Costs		Asset Related		Contract Termination1		Total
Balance at December 31, 2022	$	71	$	—	$	12	$	83
Charges to income from continuing operations	20		12		10		42
Payments	(43)		—		(13)		(56)
Asset write-offs	—		(11)		—		(11)
Balance at December 31, 2023	$	48	$	1	$	9	$	58

1.The liability for contract terminations includes lease obligations. The cash impact of these obligations are substantially complete.

2021 Restructuring Actions

During the first quarter of 2021, Corteva approved restructuring actions designed to right-size and optimize its footprint and organizational structure according to the business needs in each region with the focus on driving continued cost improvement and productivity. Through the year ended December 31, 2023, the company recorded net pre-tax restructuring charges of $167 million inception-to-date under the 2021 Restructuring Actions, consisting of $70 million of severance and related benefit costs, $45 million of asset related charges, $12 million of asset retirement obligations and $40 million of costs related to contract terminations (including early lease terminations). The company does not anticipate any additional material charges from the 2021 Restructuring Actions as actions associated with this charge were substantially complete by the end of 2021.

The charges related to the 2021 Restructuring Actions related to the segments, as well as corporate expenses, for the years ended December 31, 2023, 2022 and 2021 were as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Seed	$	—	$	(1)	$	31
Crop Protection	6		(1)		55
Corporate expenses	1		(5)		81
Total	$	7	$	(7)	$	167

The following table is a summary of charges incurred related to the 2021 Restructuring Actions for the years ended December 31, 2023, 2022 and 2021:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Severance and related benefit costs	$	1	$	(5)	$	74
Asset related charges	6		—		51
Contract termination charges	—		(2)		42
Total restructuring and asset related charges - net	$	7	$	(7)	$	167

Other Asset Related Charges

For the years ended December 31, 2023, 2022, and 2021 the company recognized $72 million, $109 million, and $125 million respectively, in restructuring and asset related charges - net in the Consolidated Statements of Operations, from non-cash accelerated prepaid royalty amortization expense related to Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits.

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Supplementary Information

12 Months Ended

Dec. 31, 2023

Supplementary Information [Abstract]

Additional Financial Information Disclosure [Text Block]

SUPPLEMENTARY INFORMATION

Other Income (Expense) - Net	For the Year Ended December 31,
(In millions)	2023		2022		2021
Interest income	$	283	$	124	$	77
Equity in earnings (losses) of affiliates - net	10		20		14
Net gain (loss) on sales of businesses and other assets1	22		18		21
Net exchange gains (losses)2	(397)		(229)		(54)
Non-operating pension and other post-employment benefit credits (costs)3	(119)		163		1,318
Miscellaneous income (expenses) - net4	(247)		(156)		(28)
Other income (expense) - net	$	(448)	$	(60)	$	1,348

1.    The years ended December 31, 2022 and 2021 include a gain of $15 million and $19 million, respectively, relating to the sale of a business in the crop protection segment.

2.    Includes net pre-tax exchange gains (losses) of $(284) million, $(110) million and $(67) million associated with the devaluation of the Argentine peso for the years ended December 31, 2023, 2022 and 2021, respectively.

3.    Includes non-service related components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized gain (loss), amortization of prior service benefit and settlement gain (loss)). 

4.    Includes losses from sale of receivables, tax indemnification adjustments related to changes in indemnification balances as a result of the application of the terms of the Tax Matters Agreement between Corteva and Dow and/or DuPont, and other items. The years ended December 31, 2023, 2022, and 2021 also includes an Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”). The years ended December 31, 2023 and 2022 also includes estimated settlement reserves and gains (losses) associated with the sale of businesses, assets and equity investments. The year ended December 31, 2022 also includes legal accruals and settlement cost associated with the Russia Exit. The year ended December 31, 2021 also includes a charge related to a contract termination with a third-party service provider, a gain from the remeasurement of an equity investment and an officer indemnification payment. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information on significant items.

The following table summarizes the impacts of the company's foreign currency hedging program on the company's results of operations. The company routinely uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency-denominated monetary assets and liabilities. The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions. The hedging program gains (losses) are largely taxable (tax deductible) in the United States (U.S.), whereas the offsetting exchange gains (losses) on the remeasurement of the net monetary asset positions are often not taxable (tax deductible) in their local jurisdictions. The net pre-tax exchange gains (losses) are recorded in other income (expense) - net and the related tax impact is recorded in provision for (benefit from) income taxes on continuing operations in the Consolidated Statements of Operations.

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Subsidiary Monetary Position Gain (Loss)
Pre-tax exchange gain (loss)	$	(371)	$	(217)	$	(72)
Local tax (expenses) benefits	55		(10)		(30)
Net after-tax impact from subsidiary exchange gain (loss)	$	(316)	$	(227)	$	(102)
Hedging Program Gain (Loss)
Pre-tax exchange gain (loss)	$	(26)	$	(12)	$	18
Tax (expenses) benefits	7		5		(4)
Net after-tax impact from hedging program exchange gain (loss)	$	(19)	$	(7)	$	14
Total Exchange Gain (Loss)
Pre-tax exchange gain (loss)	$	(397)	$	(229)	$	(54)
Tax (expenses) benefits	62		(5)		(34)
Net after-tax exchange gain (loss)	$	(335)	$	(234)	$	(88)

Cash, cash equivalents and restricted cash equivalents

The following table provides a reconciliation of cash and cash equivalents and restricted cash equivalents presented in the Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash equivalents presented in the Consolidated Statements of Cash Flows. Corteva classifies restricted cash equivalents as current or noncurrent based on the nature of the restrictions, which are included in other current assets and other assets, respectively, in the Consolidated Balance Sheets.

(In millions)	December 31, 2023		December 31, 2022
Cash and cash equivalents	$	2,644	$	3,191
Restricted cash equivalents	514		427
Total cash, cash equivalents and restricted cash equivalents	$	3,158	$	3,618

Restricted cash equivalents primarily relates to a trust funded by EIDP for cash obligations under certain non-qualified benefit and deferred compensation plans due to the Merger, which was a change in control event, and contributions to escrow accounts established for the settlement of certain legal matters and the settlement of legacy PFAS matters and the associated qualified spend. All of the company's restricted cash equivalents are classified as current as of December 31, 2023 and 2022, except for the contributions to the escrow account established for the settlement of legacy PFAS matters and the associated qualified spend, which was classified as noncurrent at December 31, 2022.

Accounts payable

Accounts payable was $4,280 million and $4,895 million at December 31, 2023 and 2022, respectively. Accounts payable - trade, which is a component of accounts payable, was $2,952 million and $3,717 million at December 31, 2023 and 2022, respectively. Included in accounts payable – trade was seed grower compensation of approximately $560 million and $470 million at December 31, 2023 and 2022, respectively, which is measured at fair value using level 2 inputs for each period presented. Accrued discounts and rebates, which is a component of accounts payable, was approximately $1,170 million and $1,030 million at December 31, 2023 and 2022, respectively. No other components of accounts payable were more than 5 percent of total current liabilities.

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Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

INCOME TAXES

Domestic and foreign components of the income (loss) from continuing operations before income taxes and the provision for (benefit from) current and deferred tax expense (benefit) are shown below:

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations before income taxes
Domestic	$	(414)	$	(1)	$	941
Foreign	1,507		1,427		1,405
Income (loss) from continuing operations before income taxes	$	1,093	$	1,426	$	2,346
Current tax expense (benefit)
Federal	$	143	$	65	$	(13)
State and local	40		21		6
Foreign	407		403		329
Total current tax expense (benefit)	$	590	$	489	$	322
Deferred tax expense (benefit)
Federal	$	(326)	$	(170)	$	164
State and local	(50)		(39)		55
Foreign	(62)		(70)		(17)
Total deferred tax expense (benefit)	$	(438)	$	(279)	$	202
Provision for (benefit from) income taxes on continuing operations	152		210		524
Net income (loss) from continuing operations after taxes	$	941	$	1,216	$	1,822

The effective income tax rate applicable to income (loss) from continuing operations before income taxes was different from the statutory U.S. federal income tax rate due to the factors listed in the following table:

Reconciliation to U.S. Statutory Rate	For the Year Ended December 31,
	2023		2022		2021
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Effective tax rates on international operations - net1	(1.8)		(3.5)		(2.5)
Acquisitions, divestitures and ownership restructuring activities2	3.6		(5.4)		(0.1)
U.S. research and development credit	(5.9)		(2.2)		(2.4)
Exchange gains/losses3	2.0		3.7		1.9
State and local incomes taxes - net	0.9		0.3		2.1
Impact of Swiss Tax Changes4	(7.9)		—		0.2
Excess tax benefits/deficiencies from stock compensation	(0.5)		(0.7)		(0.2)
Tax settlements and expiration of statute of limitations	(0.3)		0.1		—
Repatriation of foreign earnings5	2.9		1.7		1.0
Other – net	(0.1)		(0.3)		1.3
Effective tax rate on income from continuing operations	13.9	%	14.7	%	22.3	%

1.    Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

2.     Includes net tax charge of $46 million for the year ended December 31, 2023, associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

3.    Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

4. Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

5. Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

Significant components of the company's net deferred tax asset (liability) were attributable to:

Deferred Tax Balances at December 31,	2023				2022
(In millions)	Assets		Liabilities		Assets		Liabilities
Property	$	—	$	353	$	—	$	447
Operating loss and tax credit carryforwards1	539		—		363		—
Accrued employee benefits	703		—		680		—
Other accruals and reserves	603		—		545		—
Intangibles	—		2,153		—		2,106
Inventory	193		—		198		—
Research and development capitalization	607		—		418		—
Investments	39		—		40		—
Unrealized exchange gains/losses	—		38		—		29
Other – net	55		—		40		—
Subtotal	$	2,739	$	2,544	$	2,284	$	2,582
Valuation allowances2	(510)		—		(342)		—
Total	$	2,229	$	2,544	$	1,942	$	2,582
Net Deferred Tax Asset (Liability)	$	(315)			$	(640)

1.    Primarily related to tax loss and credit carryforwards from operations in the United States, Switzerland, and Spain.

2.    During the year ended December 31, 2023, the company adjusted the valuation allowances recorded against the net deferred tax asset position of various legal entities, the largest of which relates to legal entities in Switzerland and Argentina.

Details of the company’s operating loss and tax credit carryforwards are shown in the following table:

Operating Loss and Tax Credit Carryforwards	Deferred Tax Asset
(In millions)	2023		2022
Operating loss carryforwards
Expire within 5 years	$	103	$	127
Expire after 5 years or indefinite expiration	303		158
Total operating loss carryforwards	$	406	$	285
Tax credit carryforwards
Expire within 5 years	$	59	$	15
Expire after 5 years or indefinite expiration	74		63
Total tax credit carryforwards	$	133	$	78
Total Operating Loss and Tax Credit Carryforwards	$	539	$	363

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:

Total Gross Unrecognized Tax Benefits	For the Year Ended December 31,
(In millions)	2023		2022		2021
Total unrecognized tax benefits as of beginning of period	$	357	$	377	$	395
Decreases related to positions taken on items from prior years	—		(3)		(7)
Increases related to positions taken on items from prior years	23		4		13
Increases related to positions taken in the current year	16		11		9
Settlement of uncertain tax positions with tax authorities	(4)		(24)		(17)
Decreases due to expiration of statutes of limitations	(2)		(5)		(16)
Exchange (gain) loss	—		(3)		—
Total unrecognized tax benefits as of end of period	$	390	$	357	$	377
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	173	$	139	$	157
Total amount of interest and penalties (benefits) recognized in provision for (benefit from) income taxes on continuing operations	$	1	$	1	$	1
Total accrual for interest and penalties associated with unrecognized tax benefits at end of period	$	11	$	13	$	11

Each year the company files hundreds of tax returns in the various national, state and local income taxing jurisdictions in which it operates. These tax returns are subject to examination and possible challenge by the tax authorities. Positions challenged by the tax authorities may be settled or appealed by the company. As a result, there is an uncertainty in income taxes recognized in the company's financial statements in accordance with accounting for income taxes and accounting for uncertainty in income taxes. It is reasonably possible that changes to the company’s global unrecognized tax benefits could be significant; however, due to the uncertainty regarding the timing of completion of audits and possible outcomes, a current estimate of the range of increases or decreases that may occur within the next twelve months cannot be made. As of December 31, 2023, the company has made advance deposits of approximately $90 million to a foreign taxing authority, partially as a prerequisite to petition the court related to an open tax examination. These payments are accounted for as a prepaid asset, included in other assets in the Consolidated Balance Sheets.

Tax years that remain subject to examination for the company’s major tax jurisdictions are shown below:

Tax Years Subject to Examination by Major Tax Jurisdiction at December 31, 2023	Earliest Open Year
Jurisdiction
Argentina	2017
Brazil	2018
Canada	2016
China	2014
France	2021
India	2022
Italy	2017
Switzerland	2018
United States:
Federal income tax	2012
State and local income tax	2012

Undistributed earnings of foreign subsidiaries and related companies that are deemed to be indefinitely invested amounted to $4,240 million at December 31, 2023. Distributions of profits from non-U.S. subsidiaries are subject to certain taxes upon repatriation, primarily where foreign withholding taxes apply; these taxes are partially offset by U.S. foreign tax credits. The company is asserting indefinite reinvestment related to certain investments in foreign subsidiaries. Determination of the amount of unrecognized deferred tax liability related to indefinitely reinvested profits is not feasible primarily due to our legal entity structure and the complexity of U.S. and local tax laws.

For periods between the Merger on August 31, 2017, and the Corteva Distribution, Corteva and its subsidiaries were included in DowDuPont's consolidated federal income tax group and consolidated tax return. Generally, the consolidated tax liability of the DowDuPont U.S. tax group for each year was apportioned among the members of the consolidated group based on each member’s separate taxable income. Corteva, DuPont and Dow intend that to the extent federal and/or state corporate income tax liabilities are reduced through the utilization of tax attributes of the other, settlement of any receivable and payable generated from the use of the other party’s sub-group attributes will be in accordance with a tax sharing agreement and/or Tax Matters Agreement. See Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements for further information related to indemnifications between Corteva, DuPont and Dow.

On August 16, 2022, the U.S. federal government enacted the Inflation Reduction Act of 2022 (“the Act”). The Act includes tax provisions, among other things, which implement (i) a 15 percent minimum tax on book income of certain large corporations; (ii) a one percent excise tax on net stock repurchases; and (iii) several tax incentives to promote clean energy. The Act did not have a material impact on the company’s financial position, results of operations or cash flows.

In December 2021, the Organization for Economic Cooperation and Development ("OECD") released the Pillar Two Model rules (also referred to as the global minimum tax or Global Anti-Base Erosion "GloBE" rules), which were designed to ensure multinational enterprises pay a certain level of tax within every jurisdiction they operate. Several jurisdictions in which we operate have enacted these rules, with a January 1, 2024 effective date. The company is monitoring developments and evaluating the potential impact. At this time, the company does not anticipate a material tax charge as a result of implementation of these rules.

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Earnings Per Share of Common Stock (Notes)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER SHARE OF COMMON STOCK

The following tables provide earnings per share calculations for the periods indicated below:

Net Income (Loss) for Earnings Per Share Calculations - Basic and Diluted	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	941	$	1,216	$	1,822
Net income (loss) attributable to continuing operations noncontrolling interests	12		11		10
Income (loss) from continuing operations available to Corteva common stockholders	929		1,205		1,812
Income (loss) from discontinued operations available to Corteva common stockholders	(194)		(58)		(53)
Net income (loss) available to common stockholders	$	735	$	1,147	$	1,759

Earnings (Loss) Per Share Calculations - Basic	For the Year Ended December 31,
(Dollars per share)	2023		2022		2021
Earnings (loss) per share of common stock from continuing operations	$	1.31	$	1.67	$	2.46
Earnings (loss) per share of common stock from discontinued operations	(0.27)		(0.08)		(0.07)
Earnings (loss) per share of common stock	$	1.04	$	1.59	$	2.39

Earnings (Loss) Per Share Calculations - Diluted	For the Year Ended December 31,
(Dollars per share)	2023		2022		2021
Earnings (loss) per share of common stock from continuing operations	$	1.30	$	1.66	$	2.44
Earnings (loss) per share of common stock from discontinued operations	(0.27)		(0.08)		(0.07)
Earnings (loss) per share of common stock	$	1.03	$	1.58	$	2.37

Share Count Information	For the Year Ended December 31,
(Shares in millions)	2023	2022	2021
Weighted-average common shares - basic	709.0	720.8	735.9
Plus dilutive effect of equity compensation plans1	2.9	3.7	5.7
Weighted-average common shares - diluted	711.9	724.5	741.6
Potential shares of common stock excluded from EPS calculations2	2.3	1.5	2.8

1.Diluted earnings (loss) per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.

2.These outstanding potential shares of common stock relating to stock options, restricted stock units and performance-based restricted stock units were excluded from the calculation of diluted earnings (loss) per share because (i) the effect of including them would have been anti-dilutive; and (ii) the performance metrics have not yet been achieved for the outstanding potential shares relating to performance-based restricted stock units, which are deemed to be contingently issuable.

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Accounts and Notes Receivable, Net

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Accounts and Notes Receivables, Net

ACCOUNTS AND NOTES RECEIVABLE - NET

(In millions)	December 31, 2023		December 31, 2022
Accounts receivable – trade1	$	4,210	$	4,168
Notes receivable – trade1,2	119		93
Other3	1,159		1,440
Total accounts and notes receivable - net	$	5,488	$	5,701

1.Accounts and notes receivable – trade are net of allowances of $205 million and $194 million at December 31, 2023 and 2022, respectively.

2.Notes receivable – trade primarily consists of receivables for deferred payment loan programs for the sale of seed and crop protection products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2023 and 2022, there were no significant impairments related to current loan agreements.

3.Other includes receivables in relation to indemnification assets, value added tax, general sales tax and other taxes. No individual group represents more than 5 percent of total current assets. In addition, Other includes amounts due from nonconsolidated affiliates of $131 million and $148 million as of December 31, 2023 and 2022, respectively.

Accounts and notes receivable are carried at the expected amount to be collected, which approximates fair value. The company establishes the allowance for doubtful receivables using a loss-rate method where the loss rate is developed using past events, historical experience, current conditions and forecasts that affect the collectability of the financial assets.

The following table summarizes changes in the allowance for doubtful receivables for the years ended December 31, 2023 and 2022 respectively:

(In millions)
Balance at December 31, 2021	$	210
Net provision for credit losses	(13)
Other - net of write-offs charged against allowance	(3)
Balance at December 31, 2022	$	194
Net provision for credit losses	11
Other - net of write-offs charged against allowance	—
Balance at December 31, 2023	$	205

The company enters into various factoring agreements with third-party financial institutions to sell its trade receivables under both recourse and non-recourse agreements in exchange for cash proceeds. These financing arrangements result in a transfer of the company's receivables and risks to the third-party. As these transfers qualify as true sales under the applicable accounting guidance, the receivables are derecognized from the Consolidated Balance Sheets upon transfer, and the company receives a payment for the receivables from the third-party within a mutually agreed upon time period. For arrangements involving an element of recourse, which is typically provided through a guarantee of accounts in the event of customer default, the guarantee obligation is measured using market data from similar transactions and reported as a current liability in the Consolidated Balance Sheets.

Trade receivables sold under these agreements were $112 million, $134 million, and $272 million for the years ended December 31, 2023, 2022 and 2021, respectively. The trade receivables sold that remained outstanding under these agreements which include an element of recourse as of December 31, 2023 and 2022 were $2 million and $37 million, respectively. The net proceeds received were included in cash provided by (used for) operating activities, in the Consolidated Statements of Cash Flows. The difference between the carrying amount of the trade receivables sold and the sum of the cash received is recorded as a loss on sale of receivables in other income (expense) - net in the Consolidated Statements of Operations. The loss on sale of receivables were $17 million, $19 million, and $54 million for the years ended December 31, 2023, 2022 and 2021, respectively. See Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information on the company’s guarantees.

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Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

INVENTORIES

(In millions)	December 31, 2023		December 31, 2022
Finished products	$	3,273	$	3,260
Semi-finished products	2,775		2,689
Raw materials and supplies	851		862
Total inventories	$	6,899	$	6,811

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Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

PROPERTY, PLANT AND EQUIPMENT

(In millions)	December 31, 20231		December 31, 2022
Land and land improvements	$	440	$	416
Buildings	1,671		1,541
Machinery and equipment	6,315		6,077
Construction in progress	530		517
Total property, plant and equipment	8,956		8,551
Accumulated depreciation	(4,669)		(4,297)
Total property, plant and equipment - net	$	4,287	$	4,254

1. Includes property, plant and equipment acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

Buildings, machinery and equipment and land improvements are depreciated over useful lives on a straight-line basis ranging from 2 to 25 years. Capitalizable costs associated with computer software for internal use are amortized on a straight-line basis over 2 to 7 years.

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Depreciation expense	$	528	$	521	$	521

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Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 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 years ended December 31, 2022 and 2023, respectively.

(In millions)	Crop Protection		Seed		Total
Balance as of December 31, 2021	$	4,672	$	5,435	$	10,107
Currency translation adjustment	(63)		(72)		(135)
Other goodwill adjustments1	9		(19)		(10)
Balance as of December 31, 2022	$	4,618	$	5,344	$	9,962
Acquisitions2	512		—		512
Currency translation adjustment	53		78		131
Balance as of December 31, 2023	$	5,183	$	5,422	$	10,605

1.Consists primarily of the goodwill included in the sale of a business in the crop protection segment and reallocation of the former digital reporting unit goodwill between the seed and the crop protection segments.

2.On March 1, 2023, the company completed the acquisitions of Stoller and Symborg, which are included in the crop protection segment. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

The company tests goodwill and other indefinite-lived intangible assets for impairment annually (during the fourth quarter), or more frequently when events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit has declined below its carrying value. Goodwill is evaluated for impairment using qualitative and / or quantitative testing procedures. The company performs goodwill impairment testing at the reporting unit level, which is defined as the operating

segment or one level below the operating segment. One level below the operating segment, or component, is a business in which discrete financial information is available and regularly reviewed by segment management. The company aggregates certain components into reporting units based on economic similarities.

In April 2022, the company implemented a global business unit organization model ("BU Reorganization"). The BU Reorganization did not have a material impact to the company’s historical reportable segments’ financial measures and had no impact on our determination of operating segments. However, it did result 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. As a result of the BU Reorganization, the company determined that a triggering event had occurred during the second quarter of 2022 that required an interim impairment assessment as of April 1, 2022. The interim impairment assessment was performed for the seed, crop protection, and the former digital reporting units immediately prior to the BU Reorganization and for the seed and crop protection reporting units immediately after the BU Reorganization resulting in no goodwill impairment charges.

The company performed annual quantitative testing on all of its reporting units and determined that no goodwill impairments existed in 2023 and 2022. As of December 31, 2023, accumulated impairment losses on goodwill were $4,503 million.

Other Intangible Assets

The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows: 

(In millions)	December 31, 20231						December 31, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Intangible assets subject to amortization (finite-lived):
Germplasm	$	6,291	$	(1,081)	$	5,210	$	6,291	$	(826)	$	5,465
Customer-related	2,427		(734)		1,693		1,912		(585)		1,327
Developed technology	1,849		(1,004)		845		1,485		(830)		655
Trademarks/trade names	2,111		(339)		1,772		2,009		(251)		1,758
Other2	395		(294)		101		395		(271)		124
Total other intangible assets with finite lives	13,073		(3,452)		9,621		12,092		(2,763)		9,329
Intangible assets not subject to amortization (indefinite-lived):
IPR&D	5		—		5		10		—		10
Total other intangible assets with indefinite lives	5		—		5		10		—		10
Total other intangible assets	$	13,078	$	(3,452)	$	9,626	$	12,102	$	(2,763)	$	9,339

1.Includes the intangible assets acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

2.Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements.

The aggregate pre-tax amortization expense from continuing operations for finite-lived intangible assets was $683 million, $702 million, and $722 million, for the years ended December 31, 2023, 2022, and 2021, respectively.

Total estimated amortization expense for the next five fiscal years is as follows:

(In millions)
2024	$	683
2025	646
2026	636
2027	576
2028	554

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Leases (Notes)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

LEASES

The company has operating and finance leases for real estate, transportation, certain machinery and equipment, and information technology assets. The company’s leases have remaining lease terms of approximately 1 to 39 years. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend the lease when it is reasonably certain that the company will exercise that option. Some leasing arrangements require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance and tax payments. The variable lease payments are not presented as part of the initial ROU asset or lease liability.

Certain of the company's leases include residual value guarantees. These residual value guarantees are based on a percentage of the lessor's asset acquisition price and the amount of such guarantee generally declines over the course of the lease term. The portion of residual value guarantees that are probable of payment are included in the related lease liability. At December 31, 2023, the company has future maximum payments for residual value guarantees in operating leases of $207 million with final expirations through 2032. The company's lease agreements do not contain any material restrictive covenants.

The components of lease cost for the years ended December 31, 2023, 2022 and 2021 were as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Operating lease cost	$	169	$	152	$	158
Finance lease cost
Amortization of right-of-use assets	1		1		1
Total finance lease cost	1		1		1
Short-term lease cost	23		18		14
Variable lease cost	11		8		8
Total lease cost	$	204	$	179	$	181

Supplemental cash flow information related to leases for the years ended December 31, 2023, 2022 and 2021 was as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	169	$	155	$	169
Financing cash outflows from finance leases	$	1	$	1	$	1

New leases entered into during the years ended December 31, 2023 and 2022 were not material, on an individual basis. Supplemental balance sheet information related to leases is as follows:

(In millions)	December 31, 2023		December 31, 2022
Operating Leases
Operating lease right-of-use assets1	$	412	$	460
Current operating lease liabilities2	131		119
Noncurrent operating lease liabilities3	355		331
Total operating lease liabilities	$	486	$	450
Finance Leases
Property, plant, and equipment, gross	$	14	$	14
Accumulated depreciation	(13)		(11)
Property, plant, and equipment, net	1		3
Short-term borrowings and finance lease obligations	1		1
Long-Term Debt	1		2
Total finance lease liabilities	$	2	$	3

1.Included in other assets in the Consolidated Balance Sheet.

2.Included in accrued and other current liabilities in the Consolidated Balance Sheet.

3.Included in other noncurrent obligations in the Consolidated Balance Sheet.

The company utilizes the incremental borrowing rate in determining the present value of lease payments unless the implicit rate is readily determinable.

Lease Term and Discount Rate	December 31, 2023		December 31, 2022
Weighted-average remaining lease term (years)
Operating leases	6.63		7.19
Financing leases	1.36		2.36
Weighted average discount rate
Operating leases	2.98	%	3.14	%
Financing leases	3.29	%	3.29	%

Maturities of lease liabilities are as follows:

Maturity of Lease Liabilities at December 31, 2023	Operating Leases		Financing Leases
(In millions)
2024	$	139	$	1
2025	108		1
2026	87		—
2027	54		—
2028	43		—
2029 and thereafter	99		—
Total lease payments	530		2
Less: Interest	44		—
Present value of lease liabilities	$	486	$	2

Leases

LEASES

The company has operating and finance leases for real estate, transportation, certain machinery and equipment, and information technology assets. The company’s leases have remaining lease terms of approximately 1 to 39 years. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend the lease when it is reasonably certain that the company will exercise that option. Some leasing arrangements require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance and tax payments. The variable lease payments are not presented as part of the initial ROU asset or lease liability.

Certain of the company's leases include residual value guarantees. These residual value guarantees are based on a percentage of the lessor's asset acquisition price and the amount of such guarantee generally declines over the course of the lease term. The portion of residual value guarantees that are probable of payment are included in the related lease liability. At December 31, 2023, the company has future maximum payments for residual value guarantees in operating leases of $207 million with final expirations through 2032. The company's lease agreements do not contain any material restrictive covenants.

The components of lease cost for the years ended December 31, 2023, 2022 and 2021 were as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Operating lease cost	$	169	$	152	$	158
Finance lease cost
Amortization of right-of-use assets	1		1		1
Total finance lease cost	1		1		1
Short-term lease cost	23		18		14
Variable lease cost	11		8		8
Total lease cost	$	204	$	179	$	181

Supplemental cash flow information related to leases for the years ended December 31, 2023, 2022 and 2021 was as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	169	$	155	$	169
Financing cash outflows from finance leases	$	1	$	1	$	1

New leases entered into during the years ended December 31, 2023 and 2022 were not material, on an individual basis. Supplemental balance sheet information related to leases is as follows:

(In millions)	December 31, 2023		December 31, 2022
Operating Leases
Operating lease right-of-use assets1	$	412	$	460
Current operating lease liabilities2	131		119
Noncurrent operating lease liabilities3	355		331
Total operating lease liabilities	$	486	$	450
Finance Leases
Property, plant, and equipment, gross	$	14	$	14
Accumulated depreciation	(13)		(11)
Property, plant, and equipment, net	1		3
Short-term borrowings and finance lease obligations	1		1
Long-Term Debt	1		2
Total finance lease liabilities	$	2	$	3

1.Included in other assets in the Consolidated Balance Sheet.

2.Included in accrued and other current liabilities in the Consolidated Balance Sheet.

3.Included in other noncurrent obligations in the Consolidated Balance Sheet.

The company utilizes the incremental borrowing rate in determining the present value of lease payments unless the implicit rate is readily determinable.

Lease Term and Discount Rate	December 31, 2023		December 31, 2022
Weighted-average remaining lease term (years)
Operating leases	6.63		7.19
Financing leases	1.36		2.36
Weighted average discount rate
Operating leases	2.98	%	3.14	%
Financing leases	3.29	%	3.29	%

Maturities of lease liabilities are as follows:

Maturity of Lease Liabilities at December 31, 2023	Operating Leases		Financing Leases
(In millions)
2024	$	139	$	1
2025	108		1
2026	87		—
2027	54		—
2028	43		—
2029 and thereafter	99		—
Total lease payments	530		2
Less: Interest	44		—
Present value of lease liabilities	$	486	$	2

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Long-Term Debt and Available Credit Facilities

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES

The following tables summarize Corteva's short-term borrowings and finance lease obligations and long-term debt:

Short-term borrowings and finance lease obligations
(In millions)	December 31, 2023		December 31, 2022
Other loans - various currencies	$	1	$	23
Long-term debt payable within one year	196		—
Finance lease obligations payable within one year	1		1
Total short-term borrowings and finance lease obligations	$	198	$	24

Long-Term Debt
	December 31, 2023				December 31, 2022
(In millions)	Amount		Weighted Average Rate		Amount		Weighted Average Rate
Promissory notes and debentures:
Maturing in 2025	$	500	1.70	%	$	500	1.70	%
Maturing in 2026	600		4.50	%	—
Maturing in 2030	500		2.30	%	500		2.30	%
Maturing in 2033	600		4.80	%	—
Other loans:
Foreign currency loans, various rates and maturities	196		14.80	%	181		14.80	%
Medium-term notes, varying maturities through 2041	106		5.34	%	107		4.27	%
Finance lease obligations	1				2
Less: Unamortized debt discount and issuance costs	16				7
Less: Long-term debt due within one year	196				—
Total	$	2,291			$	1,283

Principal payments of long-term debt are $196 million, $500 million and $600 million for debt maturing in 2024, 2025 and 2026, respectively.

The estimated fair value of the company's short-term and long-term borrowings, including interest rate financial instruments was determined using Level 2 inputs within the fair value hierarchy, as described in Note 2 - Summary of Significant Accounting Policies. Based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, the fair value of the company's short-term borrowings and finance lease obligations was approximately carrying value.

The fair value of the company's long-term borrowings, including long-term debt due within one year, was $2,434 million and $1,172 million at December 31, 2023 and 2022, respectively.

Debt Offering

In May 2023, the company issued $600 million of 4.50 percent Senior Notes due in 2026 and $600 million of 4.80 percent Senior Notes due in 2033 (the “May 2023 Debt Offering”). The proceeds of this offering are intended to be used for general corporate purposes, which may include funding of working capital, capital expenditures and share repurchases.

Foreign Currency Loans

The company enters into short-term and long-term foreign currency loans from time-to-time by accessing uncommitted revolving credit lines to fund working capital needs of foreign subsidiaries in the normal course of business ("Foreign Currency Loans"). Interest rates are variable and determined at the time of borrowing. Total unused bank credit lines on the Foreign Currency Loans at December 31, 2023 was approximately $50 million. The company's long-term Foreign Currency Loans have varying maturities throughout 2024.

Available Committed Credit Facilities

The following table summarizes the company's credit facilities:

Committed and Available Credit Facilities at December 31, 2023
(In millions)	Effective Date	Committed Credit		Credit Available		Maturity Date	Interest
Revolving Credit Facility	May 2022	$	3,000	$	3,000	May 2027	Floating Rate
Revolving Credit Facility	May 2022	2,000		2,000		May 2025	Floating Rate
364-Day Revolving Credit Facility	January 2023	500		500		January 2024	Floating Rate
Total Committed and Available Credit Facilities		$	5,500	$	5,500

Revolving Credit Facilities

In May 2022, EIDP entered into a $3 billion, 5 year revolving credit facility and a $2 billion, 3-year revolving credit facility (the "Revolving Credit Facilities”) expiring in May 2027 and May 2025, respectively. Borrowings under the revolving credit facilities have an interest rate equal to Adjusted Term SOFR, which is Term SOFR plus 0.10 percent, plus the applicable margin. The Revolving Credit Facilities may serve as a substitute to the company's commercial paper program, and can be used from time to time, for general corporate purposes including, but not limited to, the funding of seasonal working capital needs. The Revolving Credit Facilities contain customary representations and warranties, affirmative and negative covenants and events of default that are typical for companies with similar credit ratings. Additionally, the Revolving Credit Facilities contain a financial covenant requiring that the ratio of total indebtedness to total capitalization for Corteva and its consolidated subsidiaries not exceed 0.60. At December 31, 2023, the company was in compliance with these covenants.

364-Day Revolving Credit Facilities

In January 2023, the company amended and restated its May 2022 364-day revolving credit agreement (the “364-Day Revolving Credit Facility”) increasing the facility amount to $1 billion and extending the expiration date to January 2024. Borrowings under the 364-Day Revolving Credit Facility have an interest rate equal to Adjusted Term SOFR, which is Term SOFR plus 0.10 percent, plus the applicable margin. The 364-Day Revolving Credit Facility includes a provision under which the company may convert any advances outstanding prior to the maturity date into term loans having a maturity date up to one year later. In February 2023, the company drew down $1 billion under the 364-Day Revolving Credit Facility, which was used for general corporate purposes, including funding seasonal working capital needs, capital spending, dividend payments, share repurchases and to partially fund the Stoller and Symborg acquisitions. In May 2023, the company repaid the $1 billion loan using the proceeds from the May 2023 Debt Offering and subsequently, in July 2023, reduced the available credit from $1 billion to $500 million. In January 2024, the company amended and restated the 364-Day Revolving Credit Facility to extend the expiration date to February 26, 2024. The 364-Day Revolving Credit Facility contains customary representations and warranties, affirmative and negative covenants and events of default that are typical for companies with similar credit ratings. Additionally, the 364-Day Revolving Credit Facility contains a financial covenant requiring that the ratio of total indebtedness

to total capitalization for Corteva and its consolidated subsidiaries not exceed 0.60. At December 31, 2023, the company was in compliance with these covenants.

Uncommitted Credit Facilities and Outstanding Letters of Credit

Unused bank credit lines on uncommitted credit facilities were $523 million at December 31, 2023. These lines are available to support short-term liquidity needs and general corporate purposes, including letters of credit. Outstanding letters of credit were $143 million at December 31, 2023. These letters of credit support commitments made in the ordinary course of business.

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Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

STOCKHOLDERS' EQUITY

Common Stock

Set forth below is a reconciliation of common stock share activity for the years ended December 31, 2023, 2022, and 2021:

Shares of common stock	Issued
Balance December 31, 2020	743,458,000
Issued	4,019,000
Repurchased and retired	(20,950,000)
Balance December 31, 2021	726,527,000
Issued	4,317,000
Repurchased and retired	(17,425,000)
Balance December 31, 2022	713,419,000
Issued	1,965,000
Repurchased and retired	(14,124,000)
Balance December 31, 2023	701,260,000

Share Buyback Plan

On September 13, 2022, Corteva, Inc. announced that its Board of Directors authorized a $2 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2022 Share Buyback Plan"). The timing, price and volume of purchases will be based on market conditions, relevant securities laws and other factors. In connection with the 2022 Share Buyback Plan, the company repurchased and retired 10,026,000 shares in the open market for a cost (excluding excise taxes) of $500 million during the year ended December 31, 2023.

On August 5, 2021, Corteva, Inc. announced that its Board of Directors authorized a $1.5 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2021 Share Buyback Plan"). The company completed the 2021 Share Buyback Plan during the first quarter of 2023 and repurchased and retired 4,098,000, 17,425,000 and 5,572,000 shares in the open market for a total cost of $250 million, $1 billion, and $250 million during the years ended December 31, 2023, 2022 and 2021, respectively.

On June 26, 2019, Corteva, Inc. announced that its Board of Directors authorized a $1 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2019 Share Buyback Plan"). The company completed the 2019 Share Buyback Plan during the third quarter of 2021 and repurchased and retired 24,705,000 shares between the years ended December 31, 2019 and 2021 in the open market.

Shares repurchased pursuant to Corteva's share buyback plans are immediately retired upon repurchase. Repurchased common stock is reflected as a reduction of stockholders' equity. The company's accounting policy related to its share repurchases is to reduce its common stock based on the par value of the shares and to reduce its retained earnings for the excess of the repurchase price over the par value. When Corteva has an accumulated deficit balance, the excess over the par value is applied to APIC. When Corteva has retained earnings, the excess is charged entirely to retained earnings.

Noncontrolling Interest

Corteva, Inc. owns 100 percent of the outstanding common shares of EIDP. However, EIDP has preferred stock outstanding to third parties which is accounted for as a non-controlling interest in Corteva's Consolidated Balance Sheets. Each share of EIDP Preferred Stock - $4.50 Series and EIDP Preferred Stock - $3.50 Series issued and outstanding at the effective date of the Corteva Distribution remains issued and outstanding as to EIDP and was unaffected by the Corteva Distribution.

Below is a summary of the EIDP Preferred Stock at December 31, 2023 and 2022 which is classified as noncontrolling interests in the Corteva Consolidated Balance Sheets.

(Shares in thousands)	Number of Shares
Authorized	23,000
$4.50 Series, callable at $120	1,673
$3.50 Series, callable at $102	700

Other Comprehensive Income (Loss)

The changes and after-tax balances of components comprising accumulated other comprehensive income (loss) are summarized below:

(In millions)	Cumulative Translation Adjustment1		Derivative Instruments		Pension Benefit Plans		Other Benefit Plans		Unrealized Gain (Loss) on Investments		Total
2021
Balance January 1, 2021	$	(1,970)	$	(67)	$	(1,433)	$	590	$	(10)	$	(2,890)
Other comprehensive income (loss) before reclassifications	(573)		143		996		25		3		594
Amounts reclassified from accumulated other comprehensive income (loss)	—		(4)		41		(646)		7		(602)
Net other comprehensive income (loss)	(573)		139		1,037		(621)		10		(8)
Balance December 31, 2021	$	(2,543)	$	72	$	(396)	$	(31)	$	—	$	(2,898)
2022
Other comprehensive income (loss) before reclassifications	(340)		63		213		190		—		126
Amounts reclassified from accumulated other comprehensive income (loss)	—		(55)		20		1		—		(34)
Net other comprehensive income (loss)	(340)		8		233		191		—		92
Balance December 31, 2022	$	(2,883)	$	80	$	(163)	$	160	$	—	$	(2,806)
2023
Other comprehensive income (loss) before reclassifications	425		(123)		(188)		38		—		152
Amounts reclassified from accumulated other comprehensive income (loss)	—		(12)		(2)		(9)		—		(23)
Net other comprehensive income (loss)	425		(135)		(190)		29		—		129
Balance December 31, 2023	$	(2,458)	$	(55)	$	(353)	$	189	$	—	$	(2,677)

1.The cumulative translation adjustment gains for the year ended December 31, 2023 was primarily driven by the weakening of the U.S. Dollar (“USD”) against the Swiss Franc ("CHF"), Brazilian Real ("BRL") and European Euro ("EUR"). The cumulative translation adjustment losses for the year ended December 31, 2022 was primarily driven by the strengthening of the U.S. Dollar (“USD”) against the European Euro ("EUR"), Indian Rupee (“INR”), South African Rand (“ZAR”) and Philippine Peso (“PHP”). The cumulative translation adjustment losses for the year ended December 31, 2021 was primarily driven by the strengthening of the U.S. Dollar ("USD") against the European Euro ("EUR"), Swiss franc ("CHF") and Turkish Lira (“TRY”).

The tax (expense) benefit on the net activity related to each component of other comprehensive income (loss) was as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Derivative instruments	$	50	$	3	$	(41)
Pension benefit plans - net	60		(68)		(319)
Other benefit plans - net	(9)		(56)		188
(Provision for) benefit from income taxes related to other comprehensive income (loss) items	$	101	$	(121)	$	(172)

A summary of the reclassifications out of accumulated other comprehensive income (loss) is provided as follows:

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Derivative Instruments1:	$	(8)	$	(63)	$	(13)
Tax (benefit) expense2	(4)		8		9
After-tax	$	(12)	$	(55)	$	(4)
Amortization of pension benefit plans:
Prior service (benefit) cost3,4	$	(3)	$	(3)	$	(2)
Actuarial (gains) losses3,4	—		3		55
Settlement (gain) loss3,4	—		25		1
Total before tax	(3)		25		54
Tax (benefit) expense2	1		(5)		(13)
After-tax	$	(2)	$	20	$	41
Amortization of other benefit plans:
Prior service (benefit) cost3,4	$	(2)	$	(1)	$	(922)
Actuarial (gains) losses3,4	(10)		2		81
Curtailment (gain) loss	—		—		(1)
Total before tax	(12)		1		(842)
Tax (benefit) expense2	3		—		196
After-tax	$	(9)	$	1	$	(646)
Unrealized (Gain) Loss on Investments4	$	—	$	—	$	7
Tax (benefit) expense2	—		—		—
After-tax	$	—	$	—	$	7
Total reclassifications for the period, after-tax	$	(23)	$	(34)	$	(602)

1.Reflected in cost of goods sold in the Consolidated Statements of Operations.

2.Reflected in provision for (benefit from) income taxes from continuing operations in the Consolidated Statements of Operations.

3.These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit (credit) cost of the company's pension and other benefit plans. See Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

4.Reflected in other income (expense) - net in the Consolidated Statements of Operations.

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Pension Plans and Other Post Employment Benefit Plans

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFITS

The company offers various long-term benefits to its employees. Where permitted by applicable law, the company reserves the right to change, modify or discontinue the plans.

Defined Benefit Pension Plans

The company has both funded and unfunded noncontributory defined benefit pension plans covering employees in the U.S. and non-U.S. countries. The principal U.S. pension plan is the largest pension plan held by Corteva. Effective January 1, 2007, most new hires were no longer eligible to participate in the U.S. defined benefit pension plans. On November 30, 2018, the company froze the pay and service amounts used to calculate the pension benefits for active employees who participate in the pension plan. As a result, no participants are currently accruing additional benefits in the pension plan.

The company's funding policy is consistent with the funding requirements of federal laws and regulations. Pension coverage for employees of the company's non-U.S. consolidated subsidiaries is provided, to the extent deemed appropriate, through separate plans. Obligations under such plans are funded by depositing funds with trustees, covered by insurance contracts, or remain unfunded.

The company made total contributions of $52 million, $60 million, and $49 million to its pension plans other than the principal U.S. pension plan for the years ended December 31, 2023, 2022 and 2021, respectively. Corteva expects to contribute approximately $50 million to its pension plans other than the principal U.S. pension plan in 2024. The company does not anticipate making contributions to its principal U.S pension plan in 2024.

In August 2022, the company transferred approximately $1.1 billion of certain benefit obligations and associated plan assets in the principal U.S. pension plan (the “Plan”) to an insurance company through the purchase of a nonparticipating group annuity contract (“Annuity Purchase”). The company recorded a non-cash, pre-tax settlement charge of approximately $25 million in other income (expense) – net in the Consolidated Statements of Operations for the year ended December 31, 2022 and corresponding adjustment to accumulated other comprehensive income (loss) in the Consolidated Balance Sheets at December 31, 2022 due to the Annuity Purchase. The Annuity Purchase resulted in a remeasurement of the Plan as of August 31, 2022 and the company updated the weighted average discount rate used in developing the 2022 net periodic pension (credit) costs at December 31, 2021 from 2.82 percent to 4.60 percent. Due to the remeasurement, the company recorded a pre-tax actuarial gain of approximately $110 million to accumulated other comprehensive income (loss) in the Consolidated Balance Sheets at December 31, 2022.

The weighted-average assumptions used to determine pension plan obligations for all pension plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Benefit Obligations	December 31, 2023		December 31, 2022
Discount rate	4.97	%	5.17	%
Rate of increase in future compensation levels1	2.87	%	2.83	%

1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

The weighted-average assumptions used to determine net periodic benefit costs for all pension plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost	For the Year Ended December 31,
	2023		2022		2021
Discount rate	5.17	%	3.33	%	2.44	%
Rate of increase in future compensation levels1	2.83	%	2.55	%	2.54	%
Expected long-term rate of return on plan assets	4.55	%	4.51	%	5.73	%

1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

Other Post-Employment Benefits

The company has historically provided medical, dental and life insurance benefits to certain pensioners and survivors. The majority of U.S. employees hired on or after January 1, 2007, and eligible employees under the age of 50 as of November 30, 2018, are not eligible to participate in the post-employment medical, dental and life insurance plans. Substantially all of the cost and liabilities for these retiree benefit plans are attributable to the U.S. benefit plans. The non-Medicare eligible retiree medical plan is contributory with costs shared between the company and pensioners and survivors. For Medicare eligible pensioners and

survivors, Corteva provides a company-funded Health Reimbursement Arrangement ("HRA"). In December 2020, the company amended its retiree medical, dental and life insurance plans resulting in the company no longer providing retiree dental and life insurance benefits effective January 1, 2022 and Corteva’s portion of the cost of non-Medicare retiree medical coverage no longer being adjusted for cost increases, which capped the Corteva cost at the level in effect as of December 31, 2021 ("2020 OPEB Plan Amendments"). As a result of these changes, the company recorded a $939 million decrease in other post-employment benefits ("OPEB") benefit obligations as of December 31, 2020 with a corresponding prior service benefit within other comprehensive income for the year ended December 31, 2020. A substantial amount of the prior service benefit within other comprehensive income (loss) in 2020 was recognized in other income (expense) - net in the Consolidated Statement of Operations during 2021 with the remainder recognized during 2022.

The company also provides disability benefits to employees. In most countries, employee disability benefit plans are insured. In the U.S., these plans are generally self-insured. Obligations and expenses for self-insured plans are reflected in the change in projected benefit obligations table on page F-51.

The company's OPEB plans are unfunded and the cost of the approved claims is paid from operating cash flows. Pre-tax cash requirements to cover actual net claims costs and related administrative expenses were $97 million, $122 million, and $198 million for the years ended December 31, 2023, 2022 and 2021, respectively. Changes in cash requirements reflect the net impact of per capita health care costs, demographic changes, plan amendments and changes in participant premiums, co-payments and deductibles. In 2024, the company expects to contribute approximately $115 million for its OPEB plans.

The weighted-average assumptions used to determine benefit obligations for OPEB plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Benefit Obligations	December 31, 2023		December 31, 2022
Discount rate	4.92	%	5.09	%

The weighted-average assumptions used to determine net periodic benefit costs for the OPEB plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost	For the Year Ended December 31,
	2023		2022		2021
Discount rate	5.09	%	2.59	%	2.09	%

As of December 31, 2023, 2022 and 2021, health care cost trend rates do not impact the benefit obligations for the OPEB plans because of the 2020 OPEB Plan Amendments.

Assumptions

For the U.S. plan, the company determines the expected long-term rate of return on plan assets by performing a detailed analysis of key economic and market factors driving historical returns for each asset class and formulating a projected return based on factors in the current environment. Factors considered include, but are not limited to, inflation, real economic growth, interest rate yield, interest rate spreads, and other valuation measures and market metrics. The expected long-term rate of return for each asset class is then weighted based on the strategic asset allocation approved by the governing body for the plan. The company's historical experience with the pension fund asset performance is also considered. For non-U.S. plans, assumptions reflect economic assumptions applicable to each country.

In the U.S., Corteva calculates service costs and interest costs by applying individual spot rates from a yield curve (based on high-quality corporate bond yields) to the separate expected cash flows components of service cost and interest cost. Service cost and interest cost for all other plans are determined based on the single equivalent discount rates derived in determining those plan obligations.

For U.S. benefit plans, the discount rates utilized to measure the pension and other post-employment benefit obligations are based on the yield of high-quality corporate fixed income investments at the measurement date. Future expected actuarially determined cash flows are individually discounted at the spot rates under the Aon AA_Above Median yield curve (based on high-quality corporate bond yields) to arrive at the plan’s obligations as of the measurement date. For non-U.S. benefit plans, historically the company utilized prevailing long-term high quality corporate bond indices to determine the discount rate, applicable to each country, at the measurement date.

The company adopts the most recently published mortality tables and mortality improvement scale released by the Society of Actuaries in measuring its U.S. pension and other post-employment benefit obligations. The effect of these adoptions is amortized into net periodic benefit cost for the years following the adoption.

Summarized information on the company's pension and other post-employment benefit plans is as follows:

Change in Projected Benefit Obligations, Plan Assets and Funded Status
	Defined Benefit Pension Plans				Other Post-Employment Benefits
(In millions)	For the Year Ended December 31,				For the Year Ended December 31,
	2023		2022		2023		2022
Change in benefit obligations:
Benefit obligation at beginning of the period	$	13,982	$	19,775	$	1,021	$	1,362
Service cost	18		20		1		1
Interest cost	690		505		49		26
Plan participants' contributions	1		1		20		20
Actuarial (gain) loss	311		(3,759)		(49)		(246)
Benefits paid	(1,304)		(1,460)		(117)		(142)
Other1	(257)		(1,080)		—		—
Effect of foreign exchange rates	(1)		(20)		—		—
Benefit obligations at end of the period	$	13,440	$	13,982	$	925	$	1,021
Change in plan assets:
Fair value of plan assets at beginning of the period	$	12,584	$	17,827	$	—	$	—
Actual return on plan assets	661		(2,765)		—		—
Employer contributions	52		60		97		122
Plan participants' contributions	1		1		20		20
Benefits paid	(1,304)		(1,460)		(117)		(142)
Other1	(257)		(1,080)		—		—
Effect of foreign exchange rates	18		1		—		—
Fair value of plan assets at end of the period	$	11,755	$	12,584	$	—	$	—
Funded status
U.S. plan with plan assets	$	(1,336)	$	(1,050)	$	—	$	—
Non-U.S. plans with plan assets	(43)		(30)		—		—
All other plans 2,3	(306)		(318)		(925)		(1,021)
Funded status at end of the period	$	(1,685)	$	(1,398)	$	(925)	$	(1,021)

1.Primarily relates to transfers of certain benefit obligations and related assets associated with the principal U.S. pension plan to an insurance company through the purchase of nonparticipating group annuity contracts.

2.As of December 31, 2023 and 2022, $155 million and $182 million, respectively, of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below.

3.Includes pension plans maintained around the world where funding is not customary.

	Defined Benefit Pension Plans				Other Post-Employment Benefits
(In millions)	December 31, 2023		December 31, 2022		December 31, 2023		December 31, 2022
Amounts recognized in the Consolidated Balance Sheets:
Other assets	$	2	$	3	$	—	$	—
Accrued and other current liabilities	(31)		(35)		(114)		(132)
Pension and other post-employment benefits - noncurrent	(1,656)		(1,366)		(811)		(889)
Net amount recognized	$	(1,685)	$	(1,398)	$	(925)	$	(1,021)
Pretax amounts recognized in accumulated other comprehensive income (loss):
Net gain (loss)	$	(487)	$	(238)	$	238	$	198
Prior service benefit (cost)	22		23		14		16
Pretax balance in accumulated other comprehensive income (loss) at end of year	$	(465)	$	(215)	$	252	$	214

The loss related to the change in pension and OPEB plan benefit obligations for the period ended December 31, 2023 is mainly due to the reduction in the discount rate.

The accumulated benefit obligation for all pension plans was $13.4 billion and $14.0 billion at December 31, 2023 and 2022, respectively.

Pension Plans with Projected Benefit Obligations in Excess of Plan Assets	December 31, 2023		December 31, 2022
(In millions)
Projected benefit obligations	$	13,262	$	13,832
Fair value of plan assets	11,575		12,430

Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets	December 31, 2023		December 31, 2022
(In millions)
Accumulated benefit obligations	$	13,155	$	13,676
Fair value of plan assets	11,488		12,290

(In millions)	Defined Benefit Pension Plans						Other Post-Employment Benefits
	For the Year Ended December 31,						For the Year Ended December 31,
Components of net periodic benefit (credit) cost and amounts recognized in other comprehensive income (loss)	2023		2022		2021		2023		2022		2021
Net Periodic Benefit (Credit) Cost:
Service cost	$	18	$	20	$	25	$	1	$	1	$	1
Interest cost	690		505		364		49		26		21
Expected return on plan assets	(605)		(720)		(915)		—		—		—
Amortization of unrecognized loss (gain)	—		3		55		(10)		2		81
Amortization of prior service (benefit) cost	(3)		(3)		(2)		(2)		(1)		(922)
Curtailment (gain) loss	—		—		—		—		—		(1)
Settlement loss	—		25		1		—		—		—
Net periodic benefit (credit) cost - Total	$	100	$	(170)	$	(472)	$	38	$	28	$	(820)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net gain (loss)	$	(255)	$	274	$	1,284	$	49	$	246	$	33
Amortization of unrecognized (gain) loss	—		3		55		(10)		2		81
Prior service benefit (cost)	—		—		15		—		—		—
Amortization of prior service (benefit) cost	(3)		(3)		(2)		(2)		(1)		(922)
Curtailment (gain) loss	—		—		—		—		—		(1)
Settlement loss	—		25		1		—		—		—
Effect of foreign exchange rates	8		2		3		1		—		—
Total benefit (loss) recognized in other comprehensive income (loss), attributable to Corteva	$	(250)	$	301	$	1,356	$	38	$	247	$	(809)
Total recognized in net periodic benefit (credit) cost and other comprehensive income (loss)	$	(350)	$	471	$	1,828	$	—	$	219	$	11

Estimated Future Benefit Payments

The estimated future benefit payments, reflecting expected future service, as appropriate, are presented in the following table:

Estimated Future Benefit Payments at December 31, 2023	Defined Benefit Pension Plans		Other Post-Employment Benefits
(In millions)
2024	$	1,251	$	113
2025	1,214		106
2026	1,182		99
2027	1,149		93
2028	1,112		86
Years 2029-2033	4,994		344
Total	$	10,902	$	841

Plan Assets

All pension plan assets in the U.S. are invested through a single master trust fund. The general principles guiding U.S. pension asset investment policies are those embodied in the Employee Retirement Income Security Act of 1974 ("ERISA"). These principles include discharging Corteva's investment responsibilities for the exclusive benefit of plan participants and in accordance with the "prudent expert" standard and other ERISA rules and regulations. Corteva establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. The strategic asset allocation for this trust fund is approved by the Pension Investment Committee. Strategic asset allocations in other countries are selected in accordance with the laws and practices of those countries. Where appropriate, asset liability studies are utilized in this process.

U.S. plan assets are managed by investment professionals employed by Corteva, and plan assets for non-U.S. plans are managed by professional investment firms unrelated to the company. Corteva's pension investment professionals have discretion to manage the assets within established asset allocation ranges approved by the Pension Investment Committee. Additionally, pension trust funds are permitted to enter into certain contractual arrangements generally described as "derivatives." Derivatives are primarily used to reduce specific market risks, hedge currency and adjust portfolio duration and asset allocation in a cost-effective manner.

The weighted-average target allocation for plan assets of the company's pension plans is summarized as follows:

Target Allocation for Plan Assets	December 31, 2023		December 31, 2022
Asset Category
U.S. equity securities	9	%	8	%
Non-U.S. equity securities	5		7
Fixed income securities	64		64
Hedge funds	2		3
Private market securities	11		11
Real estate	7		6
Cash and cash equivalents	2		1
Total	100	%	100	%

U.S. equity investments are primarily large-cap companies. Non-U.S. equity securities include varying market capitalization levels. Fixed income securities include corporate-issued, government-issued and asset-backed securities of both U.S. and non-U.S. issuers. Corporate debt investments include a range of credit risk and industry diversification. U.S. fixed income investments are weighted heavier than non-U.S. fixed income securities. Other investments include cash and cash equivalents, hedge funds, real estate and private market securities such as interests in private equity and venture capital partnerships.

Fair value calculations may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

For pension plan assets classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs.

For pension plan assets classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks. For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates, commodity prices, swap rates, interest rates and implied volatilities obtained from various market sources.

For pension plan assets classified as Level 3 measurements, total fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity for the investment. Investment managers, fund managers, or investment contract issuers provide valuations of the investment on a monthly or quarterly basis. These valuations are reviewed for reasonableness based on applicable sector, benchmark and company performance. Adjustments to valuations are made

where appropriate. Where available, audited financial statements are obtained and reviewed for the investments as support for the manager’s investment valuation.

The tables below present the fair values of the company's pension assets by level within the fair value hierarchy, as described in Note 2 - Summary of Significant Accounting Policies:

Basis of Fair Value Measurements	Total		Level 1		Level 2		Level 3
For the year ended December 31, 2023
(In millions)
Cash and cash equivalents	$	1,148	$	1,148	$	—	$	—
U.S. equity securities 1	1,108		1,106		1		1
Non-U.S. equity securities	441		439		—		2
Debt – government-issued	1,601		—		1,601		—
Debt – corporate-issued	3,908		—		3,906		2
Debt – asset-backed	637		—		637		—
Hedge funds	5		—		2		3
Private market securities	6		—		—		6
Real estate funds	52		—		—		52
Other	55		—		—		55
Subtotal	$	8,961	$	2,693	$	6,147	$	121
Investments measured at net asset value
Debt - government issued	42
Debt - corporate-issued	3
U.S. equity securities	19
Non-U.S. equity securities	21
Hedge funds	143
Private market securities	1,928
Real estate funds	768
Total investments measured at net asset value	$	2,924
Other items to reconcile to fair value of plan assets
Pension trust receivables 2	315
Pension trust payables 3	(445)
Total	$	11,755

1.The Corteva pension plans directly held $204 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2023.

2.Primarily receivables for investments securities sold.

3.Primarily payables for investment securities purchased.

Basis of Fair Value Measurements
For the year ended December 31, 2022
(In millions)	Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	1,348	$	1,348	$	—	$	—
U.S. equity securities1	1,200		1,195		2		3
Non-U.S. equity securities	806		806		—		—
Debt – government-issued	1,669		—		1,669		—
Debt – corporate-issued	3,822		—		3,822		—
Debt – asset-backed	695		—		695		—
Hedge funds	3		—		—		3
Private market securities	4		—		—		4
Real estate funds	132		—		—		132
Derivatives – asset position	2		—		2		—
Other	62		—		—		62
Subtotal	$	9,743	$	3,349	$	6,190	$	204
Investments measured at net asset value
Debt - government issued	35
Debt - corporate-issued	3
U.S. equity securities	20
Non-U.S. equity securities	20
Hedge funds	347
Private market securities	1,991
Real estate funds	669
Total investments measured at net asset value	$	3,085
Other items to reconcile to fair value of plan assets
Pension trust receivables2	161
Pension trust payables3	(405)
Total	$	12,584

1.The Corteva pension plans directly held $250 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2022.

2.Primarily receivables for investments securities sold.

3.Primarily payables for investment securities purchased.

The following table summarizes the changes in fair value of Level 3 pension plan assets for the years ended December 31, 2023 and 2022:

Fair Value Measurement of Level 3 Pension Plan Assets	U.S. equity securities		Non-U.S. equity securities		Debt – corporate-issued		Hedge funds		Private market securities		Real estate		Other		Total
(In millions)
Balance at January 1, 2022	$	4	$	—	$	2	$	—	$	3	$	26	$	75	$	110
Actual return on assets:
Relating to assets sold during the year ended December 31, 2022	1		—		(15)		—		(9)		—		—		(23)
Relating to assets held at December 31, 2022	—		(13)		13		(8)		10		8		(1)		9
Purchases, sales and settlements, net	(2)		1		—		—		—		(1)		(12)		(14)
Transfers in or out of Level 3, net	—		12		—		11		—		99		—		122
Balance at December 31, 2022	$	3	$	—	$	—	$	3	$	4	$	132	$	62	$	204
Actual return on assets:
Relating to assets sold during the year ended December 31, 2023	(1)		(9)		—		—		—		—		—		(10)
Relating to assets held at December 31, 2023	—		10		(5)		—		2		(24)		4		(13)
Purchases, sales and settlements, net	(1)		1		7		—		—		(35)		(13)		(41)
Transfers in or out of Level 3, net	—		—		—		—		—		(21)		2		(19)
Balance at December 31, 2023	$	1	$	2	$	2	$	3	$	6	$	52	$	55	$	121

Trust Assets

EIDP entered into a trust agreement in 2013 (as amended and restated in 2017, "the Trust") that established and requires EIDP to fund the Trust for cash obligations under certain non-qualified benefit and deferred compensation plans upon a change in control event as defined in the Trust agreement. Under the Trust agreement, the consummation of the Merger was a change in control event and resulted in a contribution to the Trust by EIDP. Additionally, the Separation resulted in Corteva transferring a portion of the balance of the Trust to DuPont at the Separation date. During the years ended December 31, 2023 and 2022, $47 million and $58 million, respectively, was distributed to EIDP according to the Trust agreement, and at December 31, 2023 and 2022, the balance in the Trust was $214 million and $251 million, respectively. The Trust Assets are classified as current restricted cash equivalents and included within other current assets in the Consolidated Balance Sheets. See Note 7 - Supplementary Information, to the Consolidated Financial Statements, for further information.

Defined Contribution Plans

Corteva provides defined contribution benefits to its employees. The most significant is the U.S. Retirement Savings Plan ("the Plan"), which covers almost all of the U.S. full-service employees. This Plan includes a non-leveraged Employee Stock Ownership Plan ("ESOP"). Employees are not required to participate in the ESOP and those who do are free to diversify out of the ESOP. The purpose of the Plan is to provide retirement savings benefits for employees and to provide employees an opportunity to become stockholders of the company. The Plan is a tax qualified contributory profit sharing plan, with cash or deferred arrangement and any eligible employee of Corteva may participate. Currently, Corteva contributes 100 percent of the first 6 percent of the employee's contribution election and also contributes 3 percent of each eligible employee's eligible compensation regardless of the employee's contribution.

Corteva's contributions to the Plan were $101 million, $97 million, and $63 million for the years ended December 31, 2023, 2022 and 2021, respectively. Corteva's matching contributions vest immediately upon contribution. The 3 percent nonmatching company contribution vests after employees complete three years of service. In addition, Corteva made contributions to other defined contribution plans of $45 million, $36 million, and $29 million for the years ended December 31, 2023, 2022 and 2021, respectively.

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Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement [Text Block]

STOCK-BASED COMPENSATION

Prior to the Corteva Distribution, Corteva employees held equity awards, including stock options, share appreciation rights (“SARs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”), which were denominated in DowDuPont common stock and, in some cases, in Dow Inc. common stock, and which had originally been issued under the DuPont Equity and Incentive Plan ("EIP"), the Dow Chemical Company 2012 Stock Incentive Plan or the Dow Chemical Company 1988 Award and Option Plan.

As discussed in Note 16 - Commitments and Contingent Liabilities, on April 1, 2019 the company entered into an employee matters agreement (the "EMA") with DuPont and Dow that identifies employees and employee-related liabilities (and attributable assets) to be allocated (either retained, transferred and accepted, or assigned and assumed, as applicable) to the Parties as part of the Distributions and describes when and how the relevant transfers and assignments will occur. With some exceptions, the EMA provides for the equitable adjustment of existing equity incentive compensation awards denominated in the common stock of DowDuPont to reflect the occurrence of the Distributions.

In connection with the Separation on June 1, 2019, outstanding DowDuPont-denominated stock options, SARs, RSU and PSU awards were converted into Corteva-denominated awards under the “Employer Method,” or into both DuPont-denominated awards and Corteva-denominated awards under the “Shareholder Method,” using a formula designed to preserve the intrinsic value of the awards immediately prior to and subsequent to the Corteva Separation. The awards have the same terms and conditions under the applicable plans and award agreements prior to the Separation transactions. The conversions of equity awards did not have a material impact to the company’s consolidated financial statements.

On June 1, 2019 (“Adoption Date”), in connection with the Separation, the Omnibus Incentive Plan (the "OIP") became effective. Under the OIP, the company may grant incentive awards, including stock options (both “incentive stock options” and nonqualified stock options), share appreciation rights, restricted shares, restricted stock units, other share-based awards and cash awards, to its and its subsidiaries’ eligible employees, non-employee directors, independent contractors and consultants following the Separation until the tenth anniversary of the Adoption Date, subject to an aggregate limit and annual individual limits. Under the OIP, the maximum number of shares reserved for the grant or settlement of awards is 20 million shares, excluding shares underlying certain exempt awards, such as the awards converted to Corteva-denominated awards pursuant to the Separation. At December 31, 2023, approximately 10 million shares were authorized for future grants under the OIP. The company generally satisfies stock option exercises and the vesting of RSUs and PSUs with newly issued shares of Corteva common stock, although RSU awards granted under Historical Dow plans in certain countries are settled in cash.

The compensation committee determines the long-term incentive mix, including stock options, RSUs and PSUs and may authorize new grants annually. The company estimates expected forfeitures.

The total stock-based compensation cost included in income (loss) from continuing operations before income taxes within the Consolidated Statement of Operations was $54 million, $55 million, and $79 million for the years ended December 31, 2023, 2022 and 2021, respectively. The income tax benefits related to stock-based compensation arrangements were $(10) million, $(10) million, and $(15) million for the years ended December 31, 2023, 2022 and 2021, respectively.

Stock Options

The exercise price of shares subject to option is equal to the market price of the company's common stock on the date of grant. All options vest serially over a period of three years. Stock option awards granted under the OIP between June 2019 and 2023 expire 10 years after the grant date. Stock option awards granted under the EIP (previous plan) between 2016 and May 2019 expire 10 years after the grant date. Stock option awards granted under the Historical Dow plans subsequent to 2013 expire 10 years after the grant date.

To measure the fair value of the awards on the date of grant, the company used the Black-Scholes option pricing model and the assumptions set forth in the below table. The weighted-average grant-date fair value of options granted for the years ended December 31, 2023, 2022 and 2021 was $21.42, $14.12 and $11.77, respectively.

Weighted-Average Assumptions	For the Year ended December 31,
	2023		2022		2021
Dividend yield	0.96	%	1.09	%	1.14	%
Expected volatility	31.07	%	28.95	%	29.44	%
Risk-free interest rate	4.1	%	1.9	%	1.0	%
Expected life of stock options granted during period (years)	6.0		6.0		6.0

The company determined the dividend yield by dividing the annualized dividend on Corteva’s Common Stock by the option exercise price. A historical daily measurement of volatility is determined based on the expected life of the option granted. For the years ended December 31, 2023, 2022 and 2021, the measurement of volatility is based on the average volatility of eight of Corteva's peer companies. Corteva's peer volatility is based on the historical volatility of each business respectively. The risk-free interest rate is determined by reference to the yield on an outstanding U.S. Treasury note with a term equal to the expected life of the option granted. Expected life is determined by utilizing the simplified method for estimating expected term.

The following table summarizes stock option activity for year ended December 31, 2023:

Stock Options	For the Year Ended December 31, 2023
	Number of Shares (in thousands)	Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2023	4,225	$	39.13	5.37	$	82,917
Granted	298	62.29
Exercised	(547)	33.81
Forfeited/Expired	(60)	39.86
Outstanding at December 31, 2023	3,916	$	41.61	4.99	$	30,060
Exercisable at December 31, 2023	3,255	$	38.91	4.32	$	29,735

The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the difference between the closing stock price on the last trading day of the period ended December 31, 2023 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their in-the-money options at period end. The total intrinsic value of options exercised for the years ended December 31, 2023, 2022 and 2021 were $14 million, $43 million, and $43 million, respectively. The company recognized tax benefits from options exercised for the years ended December 31, 2023, 2022 and 2021 of $(3) million, $(8) million and $(8) million, respectively.

As of December 31, 2023, $6 million of total unrecognized pre-tax compensation expense related to nonvested stock options is expected to be recognized over a weighted-average period of about 1.1 years.

Restricted Stock Units and Performance Share Units

RSUs granted serially vest over 3 years. Upon vesting, these RSUs convert one-for-one to Corteva Common Stock. A retirement-eligible employee retains any granted awards upon retirement for one year provided the employee has rendered at least six months of service following the grant date. Additional RSUs are also granted periodically to key senior management employees. These RSUs generally vest over periods ranging from 3 years to 5 years. The fair value of all stock-settled RSUs is based upon the market price of the underlying common stock as of the grant date.

The company grants PSUs to senior leadership. In 2023, there were 284,174 PSUs granted. Vesting for PSUs granted in 2023 and 2022 is partially based on the realization of the Company’s improvement of its Return on Net Assets (“RONA”) and Operating Earnings Per Share ("EPS") during the Performance Period. Vesting for PSUs granted in 2021 is partially based on the realization of the Company’s improvement of its Return on Invested Capital (“ROIC”) and Operating EPS during the Performance Period. Performance and payouts are determined independently for each metric. The actual award, delivered in Corteva Common Stock, can range from zero percent to 200 percent of the original grant. The weighted-average grant date fair value of the PSUs granted in 2023 of $62.29 was based upon the market price of the underlying common stock as of the grant date.

Nonvested awards of RSUs and PSUs are shown below.

RSUs & PSUs	For the Year Ended December 31, 2023
	Number of Shares (in thousands)	Weighted Average Grant Date Fair Value (per share)
Nonvested at January 1, 2023	3,955	$	43.56
Granted	1,309	62.22
Vested	(1,501)	38.48
Forfeited	(267)	39.36
Nonvested at December 31, 2023	3,496	$	53.05

The total fair value of stock units vested for the years ended December 31, 2023, 2022 and 2021 was $58 million, $88 million and $56 million, respectively. The weighted-average grant-date fair value of stock units granted for the years ended December 31, 2023, 2022 and 2021 was $62.22, $51.99 and $45.30, respectively.

As of December 31, 2023, $60 million of total unrecognized pre-tax compensation expense related to RSUs and PSUs is expected to be recognized over a weighted average period of 1.14 years.

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Financial Instruments

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments Disclosure [Text Block]

FINANCIAL INSTRUMENTS

At December 31, 2023 and 2022, the company had $1,746 million and $2,296 million, respectively, of held-to-maturity securities (primarily time deposits and money market funds) classified as cash equivalents in the Consolidated Balance Sheets, as these securities had maturities of three months or less at the time of purchase; $98 million and $124 million at December 31, 2023 and 2022, respectively, of held-to-maturity securities (primarily time deposits and foreign government bonds) classified as marketable securities in the Consolidated Balance Sheets, as these securities had maturities of more than three months to less than one year at the time of purchase; and $55 million and $27 million at December 31, 2023 and 2022, respectively, of held-to-maturity securities (primarily foreign government bonds) classified as marketable securities and included in other assets in the Consolidated Balance Sheets, as these securities had maturities of more than one year at the time of purchase. The company’s investments in held-to-maturity securities are held at amortized cost, which approximates fair value. The company’s held-to-maturity securities relating to investments in foreign government bonds at December 31, 2023 and available-for-sale securities sold during the year ended December 31, 2021 are discussed further in the “Debt Securities” section.

Derivative Instruments

Objectives and Strategies for Holding Derivative Instruments

In the ordinary course of business, the company enters into contractual arrangements (derivatives) to reduce its exposure to foreign currency and commodity price risks. The company has established a variety of derivative programs to be utilized for financial risk management. These programs reflect varying levels of exposure coverage and time horizons based on an assessment of risk.

Derivative programs have procedures and controls and are approved by the Corporate Financial Risk Management Committee, consistent with the company's financial risk management policies and guidelines. Derivative instruments used are forwards, options, futures and swaps. The company has not designated any non-derivatives as hedging instruments.

The company's financial risk management procedures also address counterparty credit approval, limits and routine exposure monitoring and reporting. The counterparties to these contractual arrangements are major financial institutions and major commodity exchanges, and multinational grain exporters. The company is exposed to credit losses in the event of nonperformance by these counterparties. The company utilizes collateral support annex agreements with certain counterparties to limit its exposure to credit losses. The company anticipates performance by counterparties to these contracts and therefore no material loss is expected. Market and counterparty credit risks associated with these instruments are regularly reported to management.

The aggregate notional amounts for the company's derivative instruments that are designated and not designated as hedging instruments was a net buy (sell) position of $(1,600) million and $2,559 million at December 31, 2023 and 2022, respectively.

Foreign Currency Risk

The company's objective in managing exposure to foreign currency fluctuations is to reduce earnings and cash flow volatility associated with foreign currency rate changes and to mitigate the exposure of certain investments in foreign subsidiaries against changes in the Euro/USD exchange rate. Accordingly, the company enters into various contracts that change in value as foreign exchange rates change to protect the value of its existing foreign currency-denominated assets, liabilities, commitments, investments and cash flows.

The company uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency denominated monetary assets and liabilities of its operations. The primary business objective of this hedging program is to maintain an approximately balanced position in foreign currencies so that exchange gains and losses resulting from exchange rate changes, after related tax effects, are minimized. The company also uses foreign currency exchange contracts to offset a portion of the company's exposure to certain forecasted transactions as well as the translation of foreign currency-denominated earnings. The company also uses commodity contracts to offset risks associated with foreign currency devaluation in certain countries.

Commodity Price Risk

Commodity price risk management programs serve to reduce exposure to price fluctuations on purchases of inventory such as corn and soybeans. The company enters into over-the-counter and exchange-traded derivative commodity instruments to hedge the commodity price risk associated with agricultural commodity exposures.

Derivatives Designated as Cash Flow Hedges

Commodity Contracts

The company enters into over-the-counter and exchange-traded derivative commodity instruments, including options, futures and swaps, to hedge the commodity price risk associated with agriculture commodity exposures.

While each risk management program has a different time maturity period, most programs currently do not extend beyond the next two years. Cash flow hedge results are reclassified into earnings during the same period in which the related exposure impacts earnings. Reclassifications are made sooner if it appears that a forecasted transaction is probable of not occurring.

The following table summarizes the after-tax effect of commodity contract cash flow hedges on accumulated other comprehensive income (loss):

    

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Beginning balance	$	55	$	47	$	(16)
Additions and revaluations of derivatives designated as cash flow hedges	(87)		102		92
Clearance of hedge results to earnings	(39)		(94)		(29)
Ending balance	$	(71)	$	55	$	47

At December 31, 2023, an after-tax net loss of $58 million is expected to be reclassified from accumulated other comprehensive income (loss) into earnings over the next twelve months.

Foreign Currency Contracts

The company enters into forward contracts to hedge the foreign currency risk associated with forecasted transactions within certain foreign subsidiaries.

While each risk management program has a different time maturity period, most programs currently do not extend beyond the next two years. Cash flow hedge results are reclassified into earnings during the same period in which the related exposure impacts earnings. Reclassifications are made sooner if it appears that a forecasted transaction is not probable of occurring.

The following table summarizes the after-tax effect of foreign currency cash flow hedges on accumulated other comprehensive

income (loss):

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Beginning balance	$	10	$	32	$	(17)
Additions and revaluations of derivatives designated as cash flow hedges	(36)		(61)		24
Clearance of hedges results to earnings	27		39		25
Ending balance	$	1	$	10	$	32

At December 31, 2023, an after-tax net gain of $1 million is expected to be reclassified from accumulated other comprehensive income (loss) into earnings over the next twelve months.

Derivatives Designated as Net Investment Hedges

Foreign Currency Contracts

The company had designated €450 million of forward contracts to exchange EUR as net investment hedges. The purpose of these forward contracts is to mitigate foreign exchange exposure related to a portion of the company’s Euro net investments in certain foreign subsidiaries against changes in Euro/USD exchange rates. These hedges expired and were settled in March 2023.

Prior to maturity, the company had elected to apply the spot method in testing for effectiveness of the hedging relationship.

Derivatives not Designated in Hedging Relationships

Foreign Currency Contracts

The company uses foreign exchange contracts to reduce its net exposure, by currency, related to foreign currency-denominated monetary assets and liabilities of its operations so that exchange gains and losses resulting from exchange rate changes are minimized. The netting of such exposures precludes the use of hedge accounting; however, the required revaluation of the forward contracts and the associated foreign currency-denominated monetary assets and liabilities intends to achieve a minimal earnings impact, after taxes. The company also uses foreign currency exchange contracts to offset a portion of the company’s exposure to the translation of certain foreign currency-denominated earnings so that gains and losses on the contracts offset changes in the USD value of the related foreign currency-denominated earnings over the relevant aggregate period.

Commodity Contracts

The company utilizes options, futures and swaps that are not designated as hedging instruments to reduce exposure to commodity price fluctuations on purchases of inventory such as corn and soybeans. The company uses commodity contracts to offset a portion of the company’s exposure to commodity price fluctuations so that gains and losses on the contracts offset changes in the commodity price over the relevant aggregate period. The company uses forward agreements, with durations less than one year, to buy and sell USD priced commodities in order to reduce its exposure to currency devaluation for a portion of its local currency cash balances. Counterparties to the forward sales agreements are multinational grain exporters and subject to the company’s financial risk management procedures.

Fair Value of Derivative Instruments

Asset and liability derivatives subject to an enforceable master netting arrangement with the same counterparty are presented on a net basis in the Consolidated Balance Sheets.

The presentation of the company's derivative assets and liabilities is as follows:

		December 31, 2023
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1		Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	$	—	$	—
Commodity Contracts	Other current assets	3		—		3
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	83		(33)		50
Commodity Contracts	Other current assets	2		—		2
Total asset derivatives		$	88	$	(33)	$	55
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	23	$	—	$	23
Commodity Contracts	Accrued and other current liabilities	6		—		6
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	38		(33)		5
Commodity contracts	Accrued and other current liabilities	8		—		8
Total liability derivatives		$	75	$	(33)	$	42

		December 31, 2022
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1		Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	41	$	—	$	41
Commodity Contracts	Other current assets	4		—		4
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	51		(40)		11
Total asset derivatives		$	96	$	(40)	$	56
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	9	$	—	$	9
Commodity contracts	Accrued and other current liabilities	3		—		3
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	58		(40)		18
Total liability derivatives		$	70	$	(40)	$	30

1.    Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.

Effect of Derivative Instruments

	Amount of Gain (Loss) Recognized in OCI1 - Pre-Tax
	For the Year Ended December 31,
(In millions)	2023		2022		2021
Derivatives designated as hedging instruments:
Net investment hedges:
Foreign currency contracts	$	—	$	28	$	37
Cash flow hedges:
Foreign currency contracts	(54)		(90)		27
Commodity contracts	(123)		130		129
Total derivatives designated as hedging instruments	$	(177)	$	68	$	193

1.OCI is defined as other comprehensive income (loss).

(in millions)	Amount of Gain (Loss) Recognized in Income - Pre-Tax1
	For the Year Ended December 31,
	2023		2022		2021
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign currency contracts2	$	(41)	$	(59)	$	(29)
Commodity contracts2	49		122		42
Total derivatives designated as hedging instruments	8		63		13
Derivatives not designated as hedging instruments:
Foreign currency contracts3	(28)		(12)		18
Foreign currency contracts2	(77)		(6)		(14)
Commodity contracts2,4	(20)		(21)		(18)
Commodity contracts3	2		—		—
Total derivatives not designated as hedging instruments	(123)		(39)		(14)
Total derivatives	$	(115)	$	24	$	(1)

1.For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.

2.Recorded in cost of goods sold, in the Consolidated Statement of Operations.

3.Recognized in other income (expense) - net, in the Consolidated Statement of Operations. Note that the net loss from foreign currency contracts was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 7 - Supplementary Information, to the Consolidated Financial Statements for additional information.

4.The net gain (loss) relating to commodity contracts that are not designated as hedging instruments that were recorded in cost of goods sold, in the Consolidated Statement of Operations, are mostly offset by the related net gain (loss) on third-party grower contracts denominated as liabilities.

Debt Securities

The company’s debt securities include foreign government bonds classified as held-to-maturity securities at December 31, 2023 and 2022. The company’s investments in held-to-maturity securities are held at amortized cost, which approximates fair value, and are held by certain foreign subsidiaries in which the USD is the functional currency. The company's investments in debt securities at December 31, 2023 with a contractual maturity within one year and between one to five years was $85 million and $55 million, respectively.

During 2021, the company sold its U.S. treasuries classified as available-for-sale securities. The estimated fair value of the available-for-sale securities that were sold in 2021 was determined using Level 1 inputs within the fair value hierarchy. Level 1 measurements were based on quoted market prices in active markets for identical assets and liabilities. The available-for-sale securities that were sold in 2021 were held by certain foreign subsidiaries in which the USD is not the functional currency. The fluctuations in foreign exchange were initially recorded in accumulated other comprehensive income (loss) within the Consolidated Statements of Equity and subsequently reclassified to earnings when sold. The gains and losses on these securities offset a portion of the foreign exchange fluctuations in earnings for the company.

The following table provides the investing results from available-for-sale securities for the year ended December 31, 2021:

Investing Results	For the Year Ended December 31,
(In millions)	2021
Proceeds from sales of available-for-sale securities	$	226
Gross realized losses	$	(7)

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Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

FAIR VALUE MEASUREMENTS

The table below summarizes the basis used to measure certain assets and liabilities relating to marketable securities and derivative assets and liabilities at fair value on a recurring basis.

Significant Other Observable Inputs	December 31, 2023		December 31, 2022
(In millions)	Level 2		Level 2
Assets at fair value:
Marketable securities	$	98	$	124
Derivatives relating to:1
Foreign currency	83		92
Commodity Contracts	5		4
Total assets at fair value	$	186	$	220
Liabilities at fair value:
Derivatives relating to:1
Foreign currency	61		67
Commodity contracts	14		3
Total liabilities at fair value	$	75	$	70

1.See Note 20 - Financial Instruments, to the Consolidated Financial Statements, for the classification of derivatives in the Consolidated Balance Sheets.

For assets and liabilities classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs.

For assets and liabilities classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability, or by using observable market data points of similar, more liquid securities to imply the price. For time deposits classified as held-to-maturity investments and reported at amortized cost, fair value is based on an observable interest rate for similar securities. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks.

For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates, commodity prices, swap rates and implied volatilities obtained from various market sources. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance/quality checks.

For all other assets and liabilities for which observable inputs are used, fair value is derived through the use of fair value models, such as a discounted cash flow model or other standard pricing models. See Note 20 - Financial Instruments, to the Consolidated Financial Statements, for further information on the types of instruments used by the company for risk management.

There were no transfers between Levels 1 and 2 during the years ended December 31, 2023 and 2022.

For assets classified as Level 3 measurements, the fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity. The fair value of the company’s interests held in trade receivable conduits is determined by calculating the expected amount of cash to be received using the key input of anticipated credit losses in the

portfolio of receivables sold that have not yet been collected. Given the short-term nature of the underlying receivables, discount rate and prepayments are not factors in determining the fair value of the interests.

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Geographic Information

12 Months Ended

Dec. 31, 2023

Geographical Reporting [Abstract]

Geographic Information [Text Block]

GEOGRAPHIC INFORMATION

Sales are attributed to geographic areas based on customer location; long-lived assets are attributed to geographic areas based on asset location.

	Net Sales
	For the Year Ended December 31,
(In millions)	2023		2022		2021
United States	$	7,783	$	7,553	$	6,782
Canada	807		741		754
EMEA	3,367		3,256		3,123
Latin America1	3,906		4,445		3,545
Asia Pacific	1,363		1,460		1,451
Total	$	17,226	$	17,455	$	15,655

1.Net sales for Brazil for the years ended December 31, 2023, 2022 and 2021 were $2,523 million, $3,137 million and $2,315 million, respectively.

	Net Property
	As of December 31,
(In millions)	2023		2022		2021
United States	$	2,922	$	2,992	$	3,051
Canada	119		116		114
EMEA	548		538		566
Latin America	608		506		468
Asia Pacific	90		102		130
Total	$	4,287	$	4,254	$	4,329

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Segment Reporting (Notes)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

SEGMENT INFORMATION

Corteva’s reportable segments reflects the manner in which its chief operating decision maker ("CODM") allocates resources and assesses performance, which is at the operating segment level (seed and crop protection). For purposes of allocating resources to the segments and assessing segment performance, segment operating EBITDA is the primary measure used by Corteva’s CODM. The company defines segment operating EBITDA as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, corporate expenses, non-operating (benefits) costs, foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items. Non-operating (benefits) costs consists of non-operating pension and other post-employment benefit (OPEB) credits (costs), tax indemnification adjustments, environmental remediation and legal costs associated with legacy EIDP businesses and sites, and the 2021 officer indemnification payment. Tax indemnification adjustments relate to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the company as pre-tax income or expense. Net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting represents the non-cash net gain (loss) from changes in fair value of certain undesignated foreign currency derivative contracts. Upon settlement, which is within the same calendar year of execution of the contract, the realized gain (loss) from the changes in fair value of the non-qualified foreign currency derivative contracts will be reported in the respective segment results to reflect the economic effects of the foreign currency derivative contracts without the resulting unrealized mark to fair value volatility.

Corporate Profile

The company conducts its global operations through the following reportable segments:

Seed

The company’s seed segment is a global leader in developing and supplying advanced germplasm and traits that produce optimum yield for farms around the world. The segment is a leader in many of the company’s key seed markets, including North America corn and soybeans, Europe corn and sunflower, as well as Brazil, India, South Africa and Argentina corn. The segment offers trait technologies that improve resistance to weather, disease, insects and enhance food and nutritional characteristics, herbicides used to control weeds, and digital solutions that assist farmer decision-making to help maximize yield and profitability.

Crop Protection

The crop protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. The segment offers crop protection solutions and digital solutions that provide farmers the tools they need to improve productivity and profitability, and help keep fields free of weeds, insects and diseases. The segment is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals.

(In millions)	Seed		Crop Protection		Total
As of and for the Year Ended December 31, 2023
Net sales	$	9,472	$	7,754	$	17,226
Segment operating EBITDA	2,117		1,374		3,491
Depreciation and amortization	814		397		1,211
Segment assets	22,732		15,004		37,736
Investments in nonconsolidated affiliates	39		76		115
Purchases of property, plant and equipment	332		263		595
As of and for the Year Ended December 31, 2022
Net sales	8,979		8,476		17,455
Segment operating EBITDA	1,656		1,684		3,340
Depreciation and amortization	839		384		1,223
Segment assets	22,952		14,097		37,049
Investments in nonconsolidated affiliates	35		67		102
Purchases of property, plant and equipment	225		380		605
As of and for the Year Ended December 31, 2021
Net sales	8,402		7,253		15,655
Segment operating EBITDA	1,512		1,202		2,714
Depreciation and amortization	866		377		1,243
Segment assets	23,270		12,428		35,698
Investments in nonconsolidated affiliates	29		47		76
Purchase of property, plant and equipment	237		336		573

Reconciliation to Consolidated Financial Statements

Income (loss) from continuing operations after income taxes to segment operating EBITDA	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	941	$	1,216	$	1,822
Provision for (benefit from) income taxes on continuing operations	152		210		524
Income (loss) from continuing operations before income taxes	1,093		1,426		2,346
Depreciation and amortization	1,211		1,223		1,243
Interest income	(283)		(124)		(77)
Interest expense	233		79		30
Exchange (gains) losses - net	397		229		54
Non-operating (benefits) costs - net1	151		(111)		(1,256)
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges	—		—		—
Significant items	579		502		236
Corporate expenses	110		116		138
Segment operating EBITDA	$	3,491	$	3,340	$	2,714

1.The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

Segment assets to total assets (in millions)	December 31, 2023		December 31, 2022
Total segment assets	$	37,736	$	37,049
Corporate assets	5,260		5,569
Total assets	$	42,996	$	42,618

Significant Pre-tax (Charges) Benefits Not Included in Segment Operating EBITDA

The years ended December 31, 2023, 2022 and 2021, respectively, included the following significant pre-tax (charges) benefits which are excluded from segment operating EBITDA:

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2023
Restructuring and asset related charges - net 1	$	(86)	$	(228)	$	(22)	$	(336)
Estimated settlement expense 2	—		(204)		—		(204)
Inventory write-offs 3	(7)		—		—		(7)
Spare parts write-off 4	—		(12)		—		(12)
Gain (loss) on sale of business, assets and equity investments 3	4		10		—		14
Employee Retention Credit	—		3		—		3
AltEn facility remediation charges	(10)		—		—		(10)
Seed sale associated with Russia Exit 3,5	18		—		—		18
Acquisition-related costs 6	—		(45)		—		(45)
Total	$	(81)	$	(476)	$	(22)	$	(579)

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2022
Restructuring and asset related charges - net 1	$	(228)	$	(37)	$	(98)	$	(363)
Estimated settlement expense 2	—		(87)		—		(87)
Inventory write-offs 3	(33)		—		—		(33)
Gain (loss) on sale of business, assets and equity investments 3	(5)		15		—		10
Settlement costs associated with Russia Exit 3	(8)		—		—		(8)
Employee Retention Credit	6		3		—		9
AltEn facility remediation charges	(33)		—		—		(33)
Seed sale associated with Russia Exit 3,5	3		—		—		3
Total	$	(298)	$	(106)	$	(98)	$	(502)

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2021
Restructuring and asset related charges - net 1	$	(152)	$	(59)	$	(78)	$	(289)
Equity securities mark-to-market gain (loss)	47		—		—		47
Employee Retention Credit	37		23		—		60
Contract termination	(30)		(24)		—		(54)
Total	$	(98)	$	(60)	$	(78)	$	(236)

1.Includes restructuring plans and asset related charges as well as accelerated prepaid amortization expense. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

2.Consists of estimated Lorsban® related charges.

3.Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions.

4.Incremental loss associated with activities related to the Crop Protection Operations Strategy Restructuring Program.

5.Includes a benefit of $18 million and $3 million for the years ended December 31, 2023 and 2022, respectively, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the Company was contractually required to purchase. It consists of $71 million and $8 million of net sales and $53 million and $5 million of cost of goods sold for the years ended December 31, 2023 and 2022, respectively.

6.Relates to acquisition-related costs, including transaction and third-party integration costs associated with the completed acquisitions of Stoller and Symborg as well as the recognition of the inventory fair value step-up. See Note 4 - Business Combinations, to the Consolidated Financial Statements, for additional information.

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EIDP Basis of Presentation (Notes)

12 Months Ended

Dec. 31, 2023

Entity Information [Line Items]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

BACKGROUND AND BASIS OF PRESENTATION

Corteva, Inc. is a leading global provider of seed and crop protection solutions focused on the agriculture industry. The company intends to leverage its rich heritage of scientific achievement to advance its robust innovation pipeline and continue to shape the future of responsible agriculture. The company's broad portfolio of agriculture solutions fuels farmer productivity around the globe. Corteva has two reportable segments: seed and crop protection. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information on the company's reportable segments.

Throughout these financial statements, except as otherwise noted by the context, the terms "Corteva" or "company" used herein mean Corteva, Inc. and its consolidated subsidiaries (including EIDP) and the term “EIDP” used herein means EIDP, Inc. (formerly known as E. I. du Pont de Nemours and Company) and its consolidated subsidiaries or EIDP, Inc. excluding its consolidated subsidiaries, as the context may indicate.

Principles of Consolidation and Basis of Presentation

The consolidated financial statements contained in this Annual Report were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for all periods presented and include the accounts of the company, its majority owned subsidiaries over which the company exercises control. The Consolidated Financial Statements and other financial information included in this Annual Report, unless otherwise specified, have been presented to separately show the effects of discontinued operations.

The company made the decision, which was retrospectively applied, to adjust the presentation of the Consolidated Statement of Cash Flows to separately show the cash provided by (used for) operating activities – discontinued operations, which was previously presented within cash provided by (used for) operating activities. See Note 16 – Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information on discontinued operations activities.

On June 1, 2019, Corteva, Inc. became an independent, publicly traded company through the completed separation (the “Separation”) of the agriculture business of DuPont de Nemours, Inc. (formerly known as DowDuPont Inc.) (“DowDuPont” or “DuPont”). The separation was effectuated through a pro rata distribution (the “Corteva Distribution”) of all of the then-issued and outstanding shares of common stock of Corteva, Inc.

Subsequent to the Merger, Historical Dow and EIDP engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups: agriculture, materials science and specialty products ("Internal Reorganization"). On April 1, 2019, DowDuPont completed the separation of its materials science business into a separate and independent public company by way of a distribution of Dow common stock to holders of DowDuPont's common stock (the “Dow Distribution” and together with the Corteva Distribution, the “Distributions”).

On April 1, 2019, Historical Dow entities, which held certain assets and liabilities aligned with Historical Dow’s agriculture business and the assets and liabilities associated with its specialty products business, respectively, were transferred and conveyed to DowDuPont.

On April 1, 2019 and May 1, 2019, EIDP’s materials science and specialty products entities, along with their respective assets and liabilities, were conveyed to Dow and DowDuPont, respectively. On May 2, 2019, DowDuPont conveyed Historical Dow agricultural entities to EIDP.

On May 6, 2019, the Board of Directors of DowDuPont approved the distribution of all the then issued and outstanding shares of common stock of Corteva, Inc., then a wholly-owned subsidiary of DowDuPont, to DowDuPont stockholders. On May 31, 2019, DowDuPont contributed EIDP to Corteva, Inc. and on June 1, 2019, the Separation was completed. Information related to the Corteva Distribution and its effect on the company's financial statements is discussed throughout these Notes to the Consolidated Financial Statements.

Since 2018, Argentina has been considered a hyper-inflationary economy under U.S. GAAP and therefore the U.S. Dollar (“USD”) is the functional currency for our related subsidiaries. Argentina contributes 4 percent and 3 percent to the company's annual net sales and segment operating EBITDA, respectively. The company remeasures net monetary assets and translates the financial statements utilizing the official Argentine Peso (“Peso”) to USD exchange rate. The ability to draw down Peso cash balances is limited at this time due to government restrictions and market availability of U.S. Dollars. The devaluation of the Peso relative to the USD over the last several years has resulted in the recognition of exchange losses (refer to Note 7 – Supplementary Information, to the Consolidated Financial Statements). As of December 31, 2023, a further 10 percent deterioration in the official Peso to USD exchange rate would reduce the USD value of our net monetary assets and negatively

impact pre-tax earnings by approximately $10 million. The company will continue to assess the implications to its operations and financial reporting.

EID [Member]

Entity Information [Line Items]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

BASIS OF PRESENTATION

Corteva, Inc. owns 100% of the outstanding common stock of EIDP. EIDP is a subsidiary of Corteva, Inc. and continues to be a reporting company, subject to the requirements of the Exchange Act. The primary differences between Corteva, Inc. and EIDP are outlined below:

•Preferred Stock - EIDP has preferred stock outstanding to third parties which is accounted for as a noncontrolling interest at the Corteva, Inc. level. Each share of EIDP Preferred Stock - $4.50 Series and EIDP Preferred Stock - $3.50 Series issued and outstanding at the effective date of the Corteva Distribution remains issued and outstanding as to EIDP and was unaffected by the Corteva Distribution.

•Related Party Loan - EIDP engaged in a series of debt redemptions during the second quarter of 2019 that were partially funded through an intercompany loan from Corteva, Inc. This was eliminated in consolidation at the Corteva, Inc. level but remains on EIDP's financial statements at the standalone level (including the associated interest).

•Capital Structure - At December 31, 2023, Corteva, Inc.'s capital structure consists of 701,260,000 issued shares of common stock, par value $0.01 per share.

The accompanying footnotes relate to EIDP only, and not to Corteva, Inc., and are presented to show differences between EIDP and Corteva, Inc.

For the footnotes listed below, refer to the footnotes from the Corteva 10-K:

•Note 1 - Background and Basis of Presentation - refer to page F-11 of the Corteva, Inc. Consolidated Financial Statements

•Note 2 - Summary of Significant Accounting Policies - refer to page F-12 of the Corteva, Inc. Consolidated Financial Statements

•Note 3 - Recent Accounting Guidance - refer to page F-17 of the Corteva, Inc. Consolidated Financial Statements

•Note 4 - Business Combinations - refer to page F-18 of the Corteva, Inc. Consolidated Financial Statements

•Note 5 - Revenue - refer to page F-19 of the Corteva, Inc. Consolidated Financial Statements

•Note 6 - Restructuring and Asset Related Charges - Net - refer to page F-22 of the Corteva, Inc. Consolidated Financial Statements

•Note 7 - Supplementary Information - refer to page F-25 of the Corteva, Inc. Consolidated Financial Statements

•Note 8 - Income Taxes - Differences exist between Corteva, Inc. and EIDP; refer to EIDP Note 3 - Income Taxes, of the EIDP Consolidated Financial Statements, below

•Note 9 - Earnings Per Share of Common Stock - Not applicable for EIDP

•Note 10 - Accounts and Notes Receivable - Net - refer to page F-31 of the Corteva, Inc. Consolidated Financial Statements

•Note 11 - Inventories - refer to page F-32 of the Corteva, Inc. Consolidated Financial Statements

•Note 12 - Property, Plant and Equipment - refer to page F-32 of the Corteva, Inc. Consolidated Financial Statements

•Note 13 - Goodwill and Other Intangible Assets - refer to page F-32 of the Corteva, Inc. Consolidated Financial Statements

•Note 14 - Leases - refer to page F-34 of the Corteva, Inc. Consolidated Financial Statements

•Note 15 - Long-Term Debt and Available Credit Facilities - refer to page F-35 of the Corteva, Inc. Consolidated Financial Statements. In addition, EIDP has a related party loan payable to Corteva, Inc.; refer to EIDP Note 2 - Related Party Transactions, of the EIDP Consolidated Financial Statements, below

•Note 16 - Commitments and Contingent Liabilities - refer to page F-37 of the Corteva, Inc. Consolidated Financial Statements

•Note 17 - Stockholders' Equity - refer to page F-46 of the Corteva, Inc. Consolidated Financial Statements

•Note 18 - Pension Plans and Other Post-Employment Benefits - refer to page F-49 of the Corteva, Inc. Consolidated Financial Statements

•Note 19 - Stock-Based Compensation - refer to page F-58 of the Corteva, Inc. Consolidated Financial Statements

•Note 20 - Financial Instruments - refer to page F-60 of the Corteva, Inc. Consolidated Financial Statements

•Note 21 - Fair Value Measurements - refer to page F-65 of the Corteva, Inc. Consolidated Financial Statements

•Note 22 - Geographic Information - refer to page F-66 of the Corteva, Inc. Consolidated Financial Statements

•Note 23 - Segment Information - Differences exist between Corteva, Inc. and EIDP; refer to EIDP Note 4 - Segment Information, of the EIDP Consolidated Financial Statements, below

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EIDP Income Taxes (Notes)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Text Block]

INCOME TAXES

Domestic and foreign components of the income (loss) from continuing operations before income taxes and the provision for (benefit from) current and deferred tax expense (benefit) are shown below:

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations before income taxes
Domestic	$	(414)	$	(1)	$	941
Foreign	1,507		1,427		1,405
Income (loss) from continuing operations before income taxes	$	1,093	$	1,426	$	2,346
Current tax expense (benefit)
Federal	$	143	$	65	$	(13)
State and local	40		21		6
Foreign	407		403		329
Total current tax expense (benefit)	$	590	$	489	$	322
Deferred tax expense (benefit)
Federal	$	(326)	$	(170)	$	164
State and local	(50)		(39)		55
Foreign	(62)		(70)		(17)
Total deferred tax expense (benefit)	$	(438)	$	(279)	$	202
Provision for (benefit from) income taxes on continuing operations	152		210		524
Net income (loss) from continuing operations after taxes	$	941	$	1,216	$	1,822

The effective income tax rate applicable to income (loss) from continuing operations before income taxes was different from the statutory U.S. federal income tax rate due to the factors listed in the following table:

Reconciliation to U.S. Statutory Rate	For the Year Ended December 31,
	2023		2022		2021
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Effective tax rates on international operations - net1	(1.8)		(3.5)		(2.5)
Acquisitions, divestitures and ownership restructuring activities2	3.6		(5.4)		(0.1)
U.S. research and development credit	(5.9)		(2.2)		(2.4)
Exchange gains/losses3	2.0		3.7		1.9
State and local incomes taxes - net	0.9		0.3		2.1
Impact of Swiss Tax Changes4	(7.9)		—		0.2
Excess tax benefits/deficiencies from stock compensation	(0.5)		(0.7)		(0.2)
Tax settlements and expiration of statute of limitations	(0.3)		0.1		—
Repatriation of foreign earnings5	2.9		1.7		1.0
Other – net	(0.1)		(0.3)		1.3
Effective tax rate on income from continuing operations	13.9	%	14.7	%	22.3	%

1.    Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

2.     Includes net tax charge of $46 million for the year ended December 31, 2023, associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

3.    Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

4. Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

5. Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

Significant components of the company's net deferred tax asset (liability) were attributable to:

Deferred Tax Balances at December 31,	2023				2022
(In millions)	Assets		Liabilities		Assets		Liabilities
Property	$	—	$	353	$	—	$	447
Operating loss and tax credit carryforwards1	539		—		363		—
Accrued employee benefits	703		—		680		—
Other accruals and reserves	603		—		545		—
Intangibles	—		2,153		—		2,106
Inventory	193		—		198		—
Research and development capitalization	607		—		418		—
Investments	39		—		40		—
Unrealized exchange gains/losses	—		38		—		29
Other – net	55		—		40		—
Subtotal	$	2,739	$	2,544	$	2,284	$	2,582
Valuation allowances2	(510)		—		(342)		—
Total	$	2,229	$	2,544	$	1,942	$	2,582
Net Deferred Tax Asset (Liability)	$	(315)			$	(640)

1.    Primarily related to tax loss and credit carryforwards from operations in the United States, Switzerland, and Spain.

2.    During the year ended December 31, 2023, the company adjusted the valuation allowances recorded against the net deferred tax asset position of various legal entities, the largest of which relates to legal entities in Switzerland and Argentina.

Details of the company’s operating loss and tax credit carryforwards are shown in the following table:

Operating Loss and Tax Credit Carryforwards	Deferred Tax Asset
(In millions)	2023		2022
Operating loss carryforwards
Expire within 5 years	$	103	$	127
Expire after 5 years or indefinite expiration	303		158
Total operating loss carryforwards	$	406	$	285
Tax credit carryforwards
Expire within 5 years	$	59	$	15
Expire after 5 years or indefinite expiration	74		63
Total tax credit carryforwards	$	133	$	78
Total Operating Loss and Tax Credit Carryforwards	$	539	$	363

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:

Total Gross Unrecognized Tax Benefits	For the Year Ended December 31,
(In millions)	2023		2022		2021
Total unrecognized tax benefits as of beginning of period	$	357	$	377	$	395
Decreases related to positions taken on items from prior years	—		(3)		(7)
Increases related to positions taken on items from prior years	23		4		13
Increases related to positions taken in the current year	16		11		9
Settlement of uncertain tax positions with tax authorities	(4)		(24)		(17)
Decreases due to expiration of statutes of limitations	(2)		(5)		(16)
Exchange (gain) loss	—		(3)		—
Total unrecognized tax benefits as of end of period	$	390	$	357	$	377
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	173	$	139	$	157
Total amount of interest and penalties (benefits) recognized in provision for (benefit from) income taxes on continuing operations	$	1	$	1	$	1
Total accrual for interest and penalties associated with unrecognized tax benefits at end of period	$	11	$	13	$	11

Each year the company files hundreds of tax returns in the various national, state and local income taxing jurisdictions in which it operates. These tax returns are subject to examination and possible challenge by the tax authorities. Positions challenged by the tax authorities may be settled or appealed by the company. As a result, there is an uncertainty in income taxes recognized in the company's financial statements in accordance with accounting for income taxes and accounting for uncertainty in income taxes. It is reasonably possible that changes to the company’s global unrecognized tax benefits could be significant; however, due to the uncertainty regarding the timing of completion of audits and possible outcomes, a current estimate of the range of increases or decreases that may occur within the next twelve months cannot be made. As of December 31, 2023, the company has made advance deposits of approximately $90 million to a foreign taxing authority, partially as a prerequisite to petition the court related to an open tax examination. These payments are accounted for as a prepaid asset, included in other assets in the Consolidated Balance Sheets.

Tax years that remain subject to examination for the company’s major tax jurisdictions are shown below:

Tax Years Subject to Examination by Major Tax Jurisdiction at December 31, 2023	Earliest Open Year
Jurisdiction
Argentina	2017
Brazil	2018
Canada	2016
China	2014
France	2021
India	2022
Italy	2017
Switzerland	2018
United States:
Federal income tax	2012
State and local income tax	2012

Undistributed earnings of foreign subsidiaries and related companies that are deemed to be indefinitely invested amounted to $4,240 million at December 31, 2023. Distributions of profits from non-U.S. subsidiaries are subject to certain taxes upon repatriation, primarily where foreign withholding taxes apply; these taxes are partially offset by U.S. foreign tax credits. The company is asserting indefinite reinvestment related to certain investments in foreign subsidiaries. Determination of the amount of unrecognized deferred tax liability related to indefinitely reinvested profits is not feasible primarily due to our legal entity structure and the complexity of U.S. and local tax laws.

For periods between the Merger on August 31, 2017, and the Corteva Distribution, Corteva and its subsidiaries were included in DowDuPont's consolidated federal income tax group and consolidated tax return. Generally, the consolidated tax liability of the DowDuPont U.S. tax group for each year was apportioned among the members of the consolidated group based on each member’s separate taxable income. Corteva, DuPont and Dow intend that to the extent federal and/or state corporate income tax liabilities are reduced through the utilization of tax attributes of the other, settlement of any receivable and payable generated from the use of the other party’s sub-group attributes will be in accordance with a tax sharing agreement and/or Tax Matters Agreement. See Note 16 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements for further information related to indemnifications between Corteva, DuPont and Dow.

On August 16, 2022, the U.S. federal government enacted the Inflation Reduction Act of 2022 (“the Act”). The Act includes tax provisions, among other things, which implement (i) a 15 percent minimum tax on book income of certain large corporations; (ii) a one percent excise tax on net stock repurchases; and (iii) several tax incentives to promote clean energy. The Act did not have a material impact on the company’s financial position, results of operations or cash flows.

In December 2021, the Organization for Economic Cooperation and Development ("OECD") released the Pillar Two Model rules (also referred to as the global minimum tax or Global Anti-Base Erosion "GloBE" rules), which were designed to ensure multinational enterprises pay a certain level of tax within every jurisdiction they operate. Several jurisdictions in which we operate have enacted these rules, with a January 1, 2024 effective date. The company is monitoring developments and evaluating the potential impact. At this time, the company does not anticipate a material tax charge as a result of implementation of these rules.

EIDP

Income Tax Disclosure [Text Block]

Refer to page F-26 of the Corteva, Inc. Consolidated Financial Statements for discussion of tax items that do not differ between Corteva, Inc. and EIDP.

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations before income taxes
Domestic	$	(434)	$	(46)	$	892
Foreign	1,507		1,427		1,404
Income (loss) from continuing operations before income taxes	$	1,073	$	1,381	$	2,296
Current tax expense (benefit)
Federal	$	138	$	56	$	(23)
State and local	40		19		4
Foreign	407		403		329
Total current tax expense (benefit)	$	585	$	478	$	310
Deferred tax expense (benefit)
Federal	$	(326)	$	(170)	$	164
State and local	(50)		(39)		55
Foreign	(62)		(70)		(17)
Total deferred tax expense (benefit)	$	(438)	$	(279)	$	202
Provision for (benefit from) income taxes on continuing operations	147		199		512
Net income (loss) from continuing operations	$	926	$	1,182	$	1,784

Reconciliation to U.S. Statutory Rate	For the Year Ended December 31,
	2023		2022		2021
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Effective tax rates on international operations - net1	(1.9)		(3.6)		(2.6)
Acquisitions, divestitures and ownership restructuring activities2	3.6		(5.5)		(0.1)
U.S. research and development credit	(6.0)		(2.3)		(2.5)
Exchange gains/losses3	2.0		3.8		1.9
State and local income taxes - net	0.9		0.2		2.2
Impact of Swiss Tax Changes4	(8.0)		—		0.2
Excess tax benefits/deficiencies from stock compensation	(0.6)		(0.7)		(0.2)
Tax settlements and expiration of statute of limitations	(0.4)		0.1		—
Repatriation of foreign earnings5	2.9		1.7		1.0
Other – net	0.2		(0.3)		1.3
Effective tax rate	13.7	%	14.4	%	22.2	%

1.    Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

2.     Includes a tax charge of $46 million for the year ended December 31, 2023 associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

3.    Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

4. Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

5.     Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

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EIDP Segment FN (Notes)

12 Months Ended

Dec. 31, 2023

Segment Reporting Information [Line Items]

Segment Reporting Disclosure [Text Block]

SEGMENT INFORMATION

Corteva’s reportable segments reflects the manner in which its chief operating decision maker ("CODM") allocates resources and assesses performance, which is at the operating segment level (seed and crop protection). For purposes of allocating resources to the segments and assessing segment performance, segment operating EBITDA is the primary measure used by Corteva’s CODM. The company defines segment operating EBITDA as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, corporate expenses, non-operating (benefits) costs, foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items. Non-operating (benefits) costs consists of non-operating pension and other post-employment benefit (OPEB) credits (costs), tax indemnification adjustments, environmental remediation and legal costs associated with legacy EIDP businesses and sites, and the 2021 officer indemnification payment. Tax indemnification adjustments relate to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the company as pre-tax income or expense. Net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting represents the non-cash net gain (loss) from changes in fair value of certain undesignated foreign currency derivative contracts. Upon settlement, which is within the same calendar year of execution of the contract, the realized gain (loss) from the changes in fair value of the non-qualified foreign currency derivative contracts will be reported in the respective segment results to reflect the economic effects of the foreign currency derivative contracts without the resulting unrealized mark to fair value volatility.

Corporate Profile

The company conducts its global operations through the following reportable segments:

Seed

The company’s seed segment is a global leader in developing and supplying advanced germplasm and traits that produce optimum yield for farms around the world. The segment is a leader in many of the company’s key seed markets, including North America corn and soybeans, Europe corn and sunflower, as well as Brazil, India, South Africa and Argentina corn. The segment offers trait technologies that improve resistance to weather, disease, insects and enhance food and nutritional characteristics, herbicides used to control weeds, and digital solutions that assist farmer decision-making to help maximize yield and profitability.

Crop Protection

The crop protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. The segment offers crop protection solutions and digital solutions that provide farmers the tools they need to improve productivity and profitability, and help keep fields free of weeds, insects and diseases. The segment is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals.

(In millions)	Seed		Crop Protection		Total
As of and for the Year Ended December 31, 2023
Net sales	$	9,472	$	7,754	$	17,226
Segment operating EBITDA	2,117		1,374		3,491
Depreciation and amortization	814		397		1,211
Segment assets	22,732		15,004		37,736
Investments in nonconsolidated affiliates	39		76		115
Purchases of property, plant and equipment	332		263		595
As of and for the Year Ended December 31, 2022
Net sales	8,979		8,476		17,455
Segment operating EBITDA	1,656		1,684		3,340
Depreciation and amortization	839		384		1,223
Segment assets	22,952		14,097		37,049
Investments in nonconsolidated affiliates	35		67		102
Purchases of property, plant and equipment	225		380		605
As of and for the Year Ended December 31, 2021
Net sales	8,402		7,253		15,655
Segment operating EBITDA	1,512		1,202		2,714
Depreciation and amortization	866		377		1,243
Segment assets	23,270		12,428		35,698
Investments in nonconsolidated affiliates	29		47		76
Purchase of property, plant and equipment	237		336		573

Reconciliation to Consolidated Financial Statements

Income (loss) from continuing operations after income taxes to segment operating EBITDA	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	941	$	1,216	$	1,822
Provision for (benefit from) income taxes on continuing operations	152		210		524
Income (loss) from continuing operations before income taxes	1,093		1,426		2,346
Depreciation and amortization	1,211		1,223		1,243
Interest income	(283)		(124)		(77)
Interest expense	233		79		30
Exchange (gains) losses - net	397		229		54
Non-operating (benefits) costs - net1	151		(111)		(1,256)
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges	—		—		—
Significant items	579		502		236
Corporate expenses	110		116		138
Segment operating EBITDA	$	3,491	$	3,340	$	2,714

1.The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

Segment assets to total assets (in millions)	December 31, 2023		December 31, 2022
Total segment assets	$	37,736	$	37,049
Corporate assets	5,260		5,569
Total assets	$	42,996	$	42,618

Significant Pre-tax (Charges) Benefits Not Included in Segment Operating EBITDA

The years ended December 31, 2023, 2022 and 2021, respectively, included the following significant pre-tax (charges) benefits which are excluded from segment operating EBITDA:

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2023
Restructuring and asset related charges - net 1	$	(86)	$	(228)	$	(22)	$	(336)
Estimated settlement expense 2	—		(204)		—		(204)
Inventory write-offs 3	(7)		—		—		(7)
Spare parts write-off 4	—		(12)		—		(12)
Gain (loss) on sale of business, assets and equity investments 3	4		10		—		14
Employee Retention Credit	—		3		—		3
AltEn facility remediation charges	(10)		—		—		(10)
Seed sale associated with Russia Exit 3,5	18		—		—		18
Acquisition-related costs 6	—		(45)		—		(45)
Total	$	(81)	$	(476)	$	(22)	$	(579)

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2022
Restructuring and asset related charges - net 1	$	(228)	$	(37)	$	(98)	$	(363)
Estimated settlement expense 2	—		(87)		—		(87)
Inventory write-offs 3	(33)		—		—		(33)
Gain (loss) on sale of business, assets and equity investments 3	(5)		15		—		10
Settlement costs associated with Russia Exit 3	(8)		—		—		(8)
Employee Retention Credit	6		3		—		9
AltEn facility remediation charges	(33)		—		—		(33)
Seed sale associated with Russia Exit 3,5	3		—		—		3
Total	$	(298)	$	(106)	$	(98)	$	(502)

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2021
Restructuring and asset related charges - net 1	$	(152)	$	(59)	$	(78)	$	(289)
Equity securities mark-to-market gain (loss)	47		—		—		47
Employee Retention Credit	37		23		—		60
Contract termination	(30)		(24)		—		(54)
Total	$	(98)	$	(60)	$	(78)	$	(236)

1.Includes restructuring plans and asset related charges as well as accelerated prepaid amortization expense. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

2.Consists of estimated Lorsban® related charges.

3.Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions.

4.Incremental loss associated with activities related to the Crop Protection Operations Strategy Restructuring Program.

5.Includes a benefit of $18 million and $3 million for the years ended December 31, 2023 and 2022, respectively, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the Company was contractually required to purchase. It consists of $71 million and $8 million of net sales and $53 million and $5 million of cost of goods sold for the years ended December 31, 2023 and 2022, respectively.

6.Relates to acquisition-related costs, including transaction and third-party integration costs associated with the completed acquisitions of Stoller and Symborg as well as the recognition of the inventory fair value step-up. See Note 4 - Business Combinations, to the Consolidated Financial Statements, for additional information.

EIDP

Segment Reporting Information [Line Items]

Segment Reporting Disclosure [Text Block]

SEGMENT INFORMATION

There are no differences in reporting structure or segments between Corteva, Inc. and EIDP. In addition, there are no differences between Corteva, Inc. and EIDP segment net sales, segment operating EBITDA, segment assets, or significant items by segment; refer to page F-67 of the Corteva, Inc. Consolidated Financial Statements for background information on the segments as well as further details regarding segment metrics. The tables below reconcile income (loss) from continuing operations after income taxes to segment operating EBITDA, as differences exist between Corteva, Inc. and EIDP.

Reconciliation to Consolidated Financial Statements

Income (loss) from continuing operations after income taxes to segment operating EBITDA (In millions)	For the Year Ended December 31,
	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	926	$	1,182	$	1,784
Provision for (benefit from) income taxes on continuing operations	147		199		512
Income (loss) from continuing operations before income taxes	1,073		1,381		2,296
Depreciation and amortization	1,211		1,223		1,243
Interest income	(283)		(124)		(77)
Interest expense	253		124		80
Exchange losses - net	397		229		54
Non-operating (benefits) costs - net1	151		(111)		(1,256)
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges	—		—		—
Significant items	579		502		236
Corporate expenses	110		116		138
Segment operating EBITDA	$	3,491	$	3,340	$	2,714

1.The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

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Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net (loss) income attributable to Company	$ 735	$ 1,147	$ 1,759

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Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

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Background and Basis of Presentation (Policies)

12 Months Ended

Dec. 31, 2023

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Intended Business Separations [Policy Text Block]

Subsequent to the Merger, Historical Dow and EIDP engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups: agriculture, materials science and specialty products ("Internal Reorganization"). On April 1, 2019, DowDuPont completed the separation of its materials science business into a separate and independent public company by way of a distribution of Dow common stock to holders of DowDuPont's common stock (the “Dow Distribution” and together with the Corteva Distribution, the “Distributions”).

On April 1, 2019, Historical Dow entities, which held certain assets and liabilities aligned with Historical Dow’s agriculture business and the assets and liabilities associated with its specialty products business, respectively, were transferred and conveyed to DowDuPont.

On April 1, 2019 and May 1, 2019, EIDP’s materials science and specialty products entities, along with their respective assets and liabilities, were conveyed to Dow and DowDuPont, respectively. On May 2, 2019, DowDuPont conveyed Historical Dow agricultural entities to EIDP.

On May 6, 2019, the Board of Directors of DowDuPont approved the distribution of all the then issued and outstanding shares of common stock of Corteva, Inc., then a wholly-owned subsidiary of DowDuPont, to DowDuPont stockholders. On May 31, 2019, DowDuPont contributed EIDP to Corteva, Inc. and on June 1, 2019, the Separation was completed. Information related to the Corteva Distribution and its effect on the company's financial statements is discussed throughout these Notes to the Consolidated Financial Statements.

Specialty Products Disposal [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Discontinued Operations, Policy [Policy Text Block]

Since 2018, Argentina has been considered a hyper-inflationary economy under U.S. GAAP and therefore the U.S. Dollar (“USD”) is the functional currency for our related subsidiaries. Argentina contributes 4 percent and 3 percent to the company's annual net sales and segment operating EBITDA, respectively. The company remeasures net monetary assets and translates the financial statements utilizing the official Argentine Peso (“Peso”) to USD exchange rate. The ability to draw down Peso cash balances is limited at this time due to government restrictions and market availability of U.S. Dollars. The devaluation of the Peso relative to the USD over the last several years has resulted in the recognition of exchange losses (refer to Note 7 – Supplementary Information, to the Consolidated Financial Statements). As of December 31, 2023, a further 10 percent deterioration in the official Peso to USD exchange rate would reduce the USD value of our net monetary assets and negatively

impact pre-tax earnings by approximately $10 million. The company will continue to assess the implications to its operations and financial reporting.

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of Consolidation

The Consolidated Financial Statements include the accounts of the company and subsidiaries in which a controlling interest is maintained. For those consolidated subsidiaries in which the company's ownership is less than 100 percent, the outside stockholders' interests are shown as noncontrolling interests. Investments in affiliates over which the company has the ability to exercise significant influence but does not have a controlling interest are accounted for under the equity method.

The company is also involved with certain joint ventures accounted for under the equity method of accounting that are variable interest entities ("VIEs"). The company is not the primary beneficiary, as the nature of the company's involvement with each VIE does not provide it the power to direct the VIE's significant activities. Future events may require these VIEs to be consolidated if the company becomes the primary beneficiary. At December 31, 2023 and 2022, the maximum exposure to loss related to the nonconsolidated VIEs is not considered material to the Consolidated Financial Statements.

Use of Estimates

Use of Estimates in Financial Statement Preparation

The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The company’s consolidated financial statements include amounts that are based on management’s best estimates and judgments. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash equivalents represent investments with maturities of three months or less from time of purchase. They are carried at cost plus accrued interest.

Restricted Cash

Restricted Cash Equivalents

Restricted cash equivalents primarily consist of trust assets and contributions to the escrow accounts for the settlement of certain legal matters and the settlement of legacy PFAS matters and the associated qualified spend. Corteva classifies restricted cash equivalents as current or noncurrent based on the nature of the restrictions, which are included in other current assets and other assets, respectively, in the Consolidated Balance Sheets. See Note 7 - Supplementary Information, to the Consolidated Financial Statements, for further information.

Marketable Securities

Marketable Securities

Marketable securities represent investments in fixed and floating rate financial instruments with maturities greater than three months and up to twelve months at time of purchase. Investments classified as held-to-maturity are recorded at amortized cost. The carrying value approximates fair value due to the short-term nature of the investments. Investments classified as debt securities that are available-for-sale are carried at estimated fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income (loss) or current period earnings if an allowance for credit losses has been established. The cost of investments sold is determined by specific identification.

Fair Value Measurements

Fair Value Measurements

Under the accounting guidance for fair value measurements and disclosures, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The company uses the following hierarchy to classify assets and liabilities measured at fair value:

Level 1	–	Quoted market prices in active markets for identical assets or liabilities.
Level 2	–	Significant other observable inputs (e.g., quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs).
Level 3	–	Unobservable inputs for the asset or liability, which are valued based on management's estimates of assumptions that market participants would use in pricing the asset or liability.

Foreign Currency Translation

Foreign Currency Translation

The company's worldwide operations utilize the USD or a related foreign currency as the functional currency, where applicable. The company identifies its separate and distinct foreign entities and groups the foreign entities into two categories: 1) extension of the parent or foreign subsidiaries operating in a hyper-inflationary environment (USD functional currency) and 2) self-contained (related foreign functional currency). If a foreign entity does not align with either category, factors are evaluated and a judgment is made to determine the functional currency. 

For foreign entities where the USD is the functional currency, all foreign currency-denominated asset and liability amounts are re-measured into USD at end-of-period exchange rates, except for inventories, prepaid expenses, property, plant and equipment, goodwill and other intangible assets, which are re-measured at historical rates. Foreign currency income and expenses are re-measured at average exchange rates in effect during each month, except for expenses related to balance sheet amounts re-measured at historical exchange rates. Exchange gains and losses arising from re-measurement of foreign currency-denominated monetary assets and liabilities are included in income in the period in which they occur.

For foreign entities where a related foreign currency is the functional currency, assets and liabilities denominated in the related foreign currencies are translated into USD at end-of-period exchange rates and the resultant translation adjustments are reported, net of their related tax effects, as a component of accumulated other comprehensive income (loss) in equity. Assets and liabilities denominated in other than the functional currency are re-measured into the functional currency prior to translation into USD and the resultant exchange gains or losses are included in income in the period in which they occur. Income and expenses are translated into USD at average exchange rates in effect during each month.

The company changes the functional currency of its separate and distinct foreign entities only when significant changes in economic facts and circumstances indicate clearly that the functional currency has changed.

Inventories

Inventories

The company's inventories are valued at the lower of cost or net realizable value. Elements of cost in inventories include raw materials, direct labor and manufacturing overhead. Stores and supplies are valued at cost or net realizable value, whichever is lower; cost is generally determined by the average cost method.

As of December 31, 2023, approximately 60% and 40% of the company's inventories were accounted for under the first-in, first-out ("FIFO") and average cost methods, respectively. As of December 31, 2022, approximately 55% and 45% of the company's inventories were accounted for under the FIFO and average cost methods, respectively. Inventories accounted for under the FIFO method are primarily comprised of products with shorter shelf lives such as seeds. See Note 11 - Inventories, to the Consolidated Financial Statements, for further information.

The company establishes an obsolescence reserve for inventory based upon quality considerations and assumptions about future demand and market conditions.

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is based on the estimated service lives of depreciable assets and is calculated using the straight-line method. Fully depreciated assets are retained in property and accumulated depreciation accounts until they are removed from service. When assets are surrendered, retired, sold, or otherwise disposed of, their gross carrying values and related accumulated depreciation are removed from the Consolidated Balance Sheets and included in determining gain or loss on such disposals. See Note 12 – Property, Plant and Equipment, to the Consolidated Financial Statements, for further information.

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The company records goodwill when the purchase price of a business acquisition exceeds the estimated fair value of net identified tangible and intangible assets acquired. Goodwill is tested for impairment at the reporting unit level at least annually, or more frequently when events or changes in circumstances indicate that the fair value of a reporting unit has more likely than not declined below its carrying value. The company performs an annual goodwill impairment test in the fourth quarter.

When testing goodwill for impairment, the company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the company chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required. If additional quantitative testing is required, the reporting unit's fair value is compared with its carrying amount, and an impairment charge, if any, is recognized for the amount by which the carrying amount exceeds the reporting unit's fair value, limited to the amount of goodwill associated with the reporting unit. The company determines fair values for each of the reporting units using a

discounted cash flow model (a form of the income approach) or the market approach. Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. The company's significant assumptions in this analysis include future cash flow projections, weighted average cost of capital, the terminal growth rate, and the tax rate. Under the market approach, the company uses metrics of publicly traded companies or historically completed transactions for comparable companies. See Note 13 - Goodwill and Other Intangible Assets, to the Consolidated Financial Statements, for further information on goodwill.

Indefinite-lived intangible assets are tested for impairment at least annually; however, these tests are performed more frequently when events or changes in circumstances indicate that the asset may be impaired. Impairment exists when carrying value exceeds fair value. The company performs an impairment assessment using the multi-period excess earnings method (a form of the income approach) using Level 3 inputs within the fair value hierarchy. The significant assumptions used in the calculation include future cash flow projections, the discount rate, and the terminal growth rate. These significant assumptions involve management judgment and estimates relating to future operating performance and economic conditions that may differ from actual cash flows.

Definite-lived intangible assets are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging primarily from 2 years to 25 years. The company continually evaluates the reasonableness of the useful lives of these assets. Once these assets are no longer considered held and used, they are removed from the Consolidated Balance Sheets.

Business Combinations Policy

Acquisitions

Acquisitions are recorded using the acquisition method of accounting and recognizes and measures the identifiable assets acquired and liabilities assumed as of the acquisition date at fair value, where applicable. The excess, if any, of total consideration transferred in a business combination over the fair value of identifiable assets acquired and liabilities assumed is recognized as goodwill. Costs incurred as a result of a business combination other than costs related to the issuance of debt or equity securities are recorded in the period the costs are incurred. The company includes the operating results of acquired entities from their respective dates of acquisition.

Leases

Leases

The company determines whether an arrangement is a lease at the inception of the arrangement based on the terms and conditions in the contract. A contract contains a lease if there is an identified asset and the company has the right to control the asset. Operating lease right-of-use ("ROU") assets are included in other assets on the company’s Consolidated Balance Sheets. Operating lease liabilities are included in accrued and other current liabilities and other noncurrent obligations on the company’s Consolidated Balance Sheets. Finance lease assets are included in property, plant and equipment on the company’s Consolidated Balance Sheets. Finance lease liabilities are included in short-term borrowings and finance lease obligations and long-term debt on the company’s Consolidated Balance Sheets. 

Operating lease ROU assets represent the company’s right to use an underlying asset for the lease term and lease liabilities represent the company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the company’s leases do not provide the lessor's implicit rate, the company uses its incremental borrowing rate at the commencement date in determining the present value of lease payments. Lease terms include options to extend the lease when it is reasonably certain those options will be exercised. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The company recognizes lease expense for these leases on a straight-line basis over the lease term.

The company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all asset classes. In the Consolidated Statements of Operations, lease expense for operating leases is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. See Note 14 - Leases, to the Consolidated Financial Statements, for further information.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

The company evaluates the carrying value of long-lived assets to be held and used when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of a long-lived asset group is considered impaired when the total projected undiscounted cash flows from the assets are separately identifiable and are less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset group. The company's fair value methodology is an estimate of fair market value which is made based on prices of similar assets or other valuation methodologies including present value techniques. Long-lived assets to be disposed of by sale, if material, are classified as held for sale and reported at the lower of carrying amount or fair value less cost to sell, and depreciation is ceased. Long-lived assets to be disposed of other than by sale are classified as held and used until they are disposed of and reported at the lower of carrying amount or fair value. Depreciation is recognized over the remaining useful life of the assets.

Derivative Instruments

Derivative Instruments

Derivative instruments are reported in the Consolidated Balance Sheets at their fair values. The company utilizes derivatives to manage exposures to foreign currency exchange rates and commodity prices. Changes in the fair values of derivative instruments that are not designated as hedges are recorded in current period earnings. For derivative instruments designated as cash flow hedges, the gain (loss) is reported in accumulated other comprehensive income (loss) until it is cleared to earnings during the same period in which the hedged item affects earnings. For derivative instruments designated as net investment hedges, the gain (loss) is reported within accumulated other comprehensive income (loss) until the subsidiary is divested.

In the event that a derivative designated as a hedge of a firm commitment or an anticipated transaction is terminated prior to the maturation of the hedged transaction, the net gain or loss in accumulated other comprehensive income (loss) generally remains in accumulated other comprehensive income (loss) until the item that was hedged affects earnings. If a hedged transaction matures, or is sold, extinguished, or terminated prior to the maturity of a derivative designated as a hedge of such transaction, gains or losses associated with the derivative through the date the transaction matured are included in the measurement of the hedged transaction and the derivative is reclassified as for trading purposes. Derivatives designated as hedges of anticipated transactions are reclassified as for trading purposes if the anticipated transaction is no longer probable.

The company included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. See Note 20 - Financial Instruments, to the Consolidated Financial Statements, for additional discussion regarding the company's objectives and strategies for derivative instruments.

Environmental Matters

Environmental Matters

Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the Consolidated Balance Sheets in accrued and other current liabilities and other noncurrent obligations at undiscounted amounts. Accruals for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the Consolidated Balance Sheets as accounts and notes receivable - net.

Environmental costs are capitalized if the costs extend the life of the property, increase its capacity, and/or mitigate or prevent contamination from future operations. Environmental costs are also capitalized in recognition of legal asset retirement obligations resulting from the acquisition, construction and/or normal operation of a long-lived asset. Costs related to environmental contamination treatment and cleanup are charged to expense. Estimated future incremental operations, maintenance and management costs directly related to remediation are accrued when such costs are probable and reasonably estimable.

Revenue Recognition

Revenue Recognition

The company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the company expects to receive in exchange for those goods or services. To determine the revenue recognition for an arrangement considered to be a contract with a customer, the company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 5 - Revenue, to the Consolidated Financial Statements, for additional information on revenue recognition.

Royalty Expense

Prepaid Royalties

The company currently has certain third-party biotechnology trait license agreements, which require up-front and variable payments subject to the licensor meeting certain conditions. These payments are reflected as other current assets and other assets in the Consolidated Balance Sheets and are amortized to cost of goods sold in the Consolidated Statement of Operations as seeds containing the respective trait technology are utilized over the life of the license. The rate of royalty amortization expense recognized is based on the company’s strategic plans which include various assumptions and estimates including product portfolio, market dynamics, farmer preferences, growth rates and projected planted acres. Changes in factors and assumptions included in the strategic plans, including potential changes to the product portfolio in favor of internally developed biotechnology, could impact the rate of recognition of the relevant prepaid royalty.

At December 31, 2023, the balance of prepaid royalties reflected in other current assets and other assets in the Consolidated Balance Sheets was approximately $105 million and $25 million, respectively. The majority of the balance of prepaid royalties in other current assets relates to the company’s wholly owned subsidiary, Pioneer Hi-Bred International, Inc.’s (“Pioneer”) non-exclusive license in the United States and Canada for the Monsanto Company's Genuity® Roundup Ready 2 Yield® glyphosate

tolerance trait and Roundup Ready 2 Xtend® glyphosate and dicamba tolerance trait for soybeans (“Roundup Ready 2 License Agreement”). Each of these licensed technologies are now trademarks of the Bayer Group, which acquired the Monsanto Company in 2018. The prepaid royalty asset relates to a series of up-front, fixed and variable royalty payments to utilize the traits in Pioneer’s soybean product mix. The company’s historical expectation was that the technology licensed under the Roundup Ready 2 License Agreement would be used as the primary herbicide tolerance trait platform in the Pioneer® brand soybean through the term of the agreement. DAS and MS Technologies, L.L.C. jointly developed and own the Enlist E3TM herbicide tolerance trait for soybeans which provides tolerance to 2, 4-D choline in Enlist Duo® and Enlist One® herbicides, as well as glyphosate and glufosinate herbicides. In connection with the validation of breeding plans and large-scale product development timelines, during 2019 the company committed to accelerate the ramp up of the Enlist E3TM trait platform in the company’s soybean portfolio mix across all brands, including Pioneer® brands. During the five-year ramp-up period, the company has began to significantly reduce the volume of products with the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits, with expected minimal use of the trait platform thereafter for the remainder of the Roundup Ready 2 License Agreement (the “Transition Plan”). The rate of royalty expense has therefore increased significantly through higher amortization of the prepaid royalty as fewer seeds containing the respective trait are expected to be utilized.

In connection with the departure from these traits, beginning January 1, 2020 the company presents and discloses the non-cash accelerated prepaid royalty amortization expense as a component of restructuring and asset related charges - net, in the Consolidated Statement of Operations. The accelerated prepaid royalty amortization expense represents the difference between the rate of amortization based on the revised number of units expected to contain the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® trait technology and the variable cash rate per the Roundup Ready 2 License Agreement.

Further changes in factors and assumptions associated with usage of the trait platform licensed under the Roundup Ready 2 License Agreement, including the Transition Plan, could further impact the rate of recognition of the prepaid royalty and Consolidated Statement of Operations presentation of the accelerated prepaid royalty amortization expense.

Cost of Goods Sold

Cost of Goods Sold

Cost of goods sold primarily includes the cost of manufacture and delivery, ingredients or raw materials, direct salaries, wages and benefits and overhead, non-capitalizable costs associated with capital projects, royalties and other operational expenses. No amortization of intangibles is included within cost of goods sold.

Research and Development

Research and Development

Research and development costs are expensed as incurred. Research and development expense includes costs (primarily consisting of employee costs, materials, contract services, research agreements, and other external spend) relating to the discovery and development of new products.

Selling, General and Administrative Expenses

Selling, General and Administrative Expenses

Selling, general and administrative expenses primarily include selling and marketing expenses, commissions, functional costs, and business management expenses.

Litigation

Litigation and Other Contingencies

Accruals for legal matters and other contingencies are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Legal costs, such as outside counsel fees and expenses, are charged to expense in the period incurred.

Severance Costs

Severance Costs

Severance benefits are provided to employees under the company's ongoing benefit arrangements. Severance costs are accrued when management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated.

Insurance and Self Insurance

Insurance/Self-Insurance

The company self-insures certain risks where permitted by law or regulation, including workers' compensation, vehicle liability and employee related benefits. Liabilities associated with these risks are estimated in part by considering historical claims experience, demographic factors and other actuarial assumptions. For other risks, the company uses a combination of insurance and self-insurance, reflecting comprehensive reviews of relevant risks. A receivable for an insurance recovery is generally recognized when the loss has occurred and collection is considered probable.

Income Taxes

Income Taxes

The company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities using enacted tax rates. The effect of a change in tax rates on deferred tax assets or liabilities is recognized in income in the period that includes the enactment date.

The company recognizes the financial statement effects of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. The current portion of uncertain income tax positions is included in income taxes payable or income tax receivable, and the long-term portion is included in other noncurrent obligations or other noncurrent assets in the Consolidated Balance Sheets.

Income tax related penalties are included in the provision for (benefit from) income taxes in the Consolidated Statements of Operations. Interest accrued related to unrecognized tax benefits is included within the provision for (benefit from) income taxes from continuing operations in the Consolidated Statements of Operations.

Earnings Per Share, Policy [Policy Text Block]

Earnings per Common Share

The calculation of earnings per common share is based on the weighted-average number of the company’s common shares outstanding for the applicable period. The calculation of diluted earnings per common share reflects the effect of all potential common shares that were outstanding during the respective periods, unless the effect of doing so is antidilutive.

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Recent Accounting Guidance Recent Accounting Guidance (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Recent Accounting Guidance

RECENT ACCOUNTING GUIDANCE

Recently Adopted Accounting Guidance

In September 2022, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update ("ASU") 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. This ASU includes amendments that require a buyer in supplier finance programs to disclose key terms of the programs and related obligations, including a rollforward of such obligations. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the rollforward requirements, which are effective for fiscal years beginning after December 15, 2023, and early adoption is permitted. Retrospective application to all periods in which a balance sheet is presented is required, except for the rollforward requirement, which will be applied prospectively. The company adopted this guidance on January 1, 2023 which resulted in certain disclosures being added relating to supplier financing programs and related obligations. See Note 16 – Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information.

Accounting Guidance Issued But Not Adopted as of December 31, 2023

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as reconciling items that meet a quantitative threshold. Further, the ASU requires additional disclosures on income tax expense and taxes paid, net of refunds received, by jurisdiction. The new standard is effective for annual periods beginning after December 15, 2024 on a prospective basis with the option to apply it retrospectively. Early adoption is permitted. The adoption of this guidance will result in the company being required to include enhanced income tax related disclosures.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU includes amendments that expand the existing reportable segment disclosure requirements and requires disclosure of (i) significant expense categories and amounts by reportable segment as well as the segment’s profit or loss measure(s) that are regularly provided to the chief operating decision maker (the “CODM”) to allocate resources and assess performance; (ii) how the CODM uses each reported segment profit or loss measure to allocate resources and assess performance; (iii) the nature of other segment balances contributing to reported segment profit or loss that are not captured within segment revenues or expenses; and (iv) the title and position of the individual or name of the group or committee identified as the CODM. This guidance requires retrospective application to all prior periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The adoption of this guidance will result in the company being required to include enhanced disclosures relating to its reportable segments.

In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement. The amendments in this ASU are intended to facilitate consistency in the application of accounting guidance upon the formation of entities qualifying as joint ventures. It generally requires the use of business combinations accounting at the joint venture formation date, which would result in the contributed assets/liabilities being

revalued to fair value and potentially result in the recognition of goodwill and other intangibles on the joint venture’s financial statements. It does not alter the ongoing accounting for the joint venture’s operations. This guidance is effective for joint ventures with formation dates on or after January 1, 2025. Prospective application is required, with early adoption permitted. Retrospective application can be elected for joint ventures formed before January 1, 2025. The company does not expect the impact of adoption to be material.

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Revenue from Contract with Customer (Policies)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

The company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the company expects to receive in exchange for those goods or services. To determine the revenue recognition for an arrangement considered to be a contract with a customer, the company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 5 - Revenue, to the Consolidated Financial Statements, for additional information on revenue recognition.

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Business Combinations and Asset Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

(In millions)	Stoller1		Symborg1
Assets
Cash and cash equivalents	$	97	$	—
Accounts and notes receivable	243		17
Inventories	81		10
Other current assets	9		2
Property, plant and equipment	71		3
Goodwill	383		129
Other intangible assets	645		300
Deferred income taxes	10		—
Other assets	5		1
Total assets acquired	$	1,544	$	462
Liabilities
Short-term borrowings	59		—
Accounts payable	25		13
Income taxes payable	2		—
Accrued and other current liabilities	65		4
Long-term debt	2		—
Deferred income tax liabilities	150		74
Other noncurrent obligations	21		1
Total liabilities assumed	$	324	$	92
Net assets acquired	$	1,220	$	370

1.Includes preliminary measurement period adjustments, which were not material.

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

Intangible Assets	Stoller			Symborg
(in millions)	Fair Value		Weighted-Average Amortization Period (Years)	Fair Value		Weighted-Average Amortization Period (Years)
Intangible assets with finite lives:
Customer-related	$	495	13	$	—	—
Developed technology	106		13	238		12
Trademarks/ trade names	44		15	57		12
Total other intangible assets with finite lives	$	645	13	$	295	12
Intangible assets with infinite lives:
IPR&D	—		—	5		—
Total other intangible assets with indefinite lives	$	—	—	$	5	—
Total intangible assets	$	645		$	300

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Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Disaggregation of Revenue [Line Items]

Contract Balances [Table Text Block]

Contract Balances	December 31, 2023		December 31, 2022
(In millions)
Accounts and notes receivable - trade1	$	4,329	$	4,261
Contract assets - current2	27		26
Contract assets - noncurrent3	67		64
Deferred revenue - current	3,406		3,388
Deferred revenue - noncurrent4	108		107

1.Included in accounts and notes receivable - net in the Consolidated Balance Sheets.

2.Included in other current assets in the Consolidated Balance Sheets.

3.Included in other assets in the Consolidated Balance Sheets.

4.Included in other noncurrent obligations in the Consolidated Balance Sheets.

Geography [Member]

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]

Seed	For the Year Ended December 31,
(In millions)	2023		2022		2021
North America1	$	5,768	$	5,178	$	5,004
EMEA2	1,622		1,609		1,599
Latin America	1,637		1,758		1,420
Asia Pacific	445		434		379
Total	$	9,472	$	8,979	$	8,402

Crop Protection	For the Year Ended December 31,
(In millions)	2023		2022		2021
North America1	$	2,822	$	3,116	$	2,532
EMEA2	1,745		1,647		1,524
Latin America	2,269		2,687		2,125
Asia Pacific	918		1,026		1,072
Total	$	7,754	$	8,476	$	7,253

1.Represents U.S. & Canada.

2.Europe, Middle East, and Africa ("EMEA").

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Restructuring and Asset Related Charges (Tables)

12 Months Ended

Dec. 31, 2023

2022 Restructuring Actions

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring Reserve by Segment

	For the Year Ended December 31,
(In millions)	2023		2022
Seed	$	17	$	120
Crop Protection	5		41
Corporate expenses	20		111
Total1	$	42	$	272

1.This amount excludes other pre-tax charges recorded during the years ended December 31, 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 company's Consolidated Statement of Operations, respectively. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information.

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

	For the Year Ended December 31,
(In millions)	2023		2022
Severance and related benefit costs	$	20	$	111
Asset related charges	12		104
Contract termination charges1	10		57
Total restructuring and asset related charges - net2	$	42	$	272

1.Contract terminations includes early lease terminations.

2.This amount excludes other pre-tax charges recorded during the year ended December 31, 2023 and 2022 included in cost of goods sold and other income (expense) – net, in the company’s Consolidated Statement of Operations, as noted above.

A reconciliation of the December 31, 2022 to the December 31, 2023 liability balances related to the 2022 Restructuring Actions is summarized below:

(In millions)	Severance and Related Benefit Costs		Asset Related		Contract Termination1		Total
Balance at December 31, 2022	$	71	$	—	$	12	$	83
Charges to income from continuing operations	20		12		10		42
Payments	(43)		—		(13)		(56)
Asset write-offs	—		(11)		—		(11)
Balance at December 31, 2023	$	48	$	1	$	9	$	58

1.The liability for contract terminations includes lease obligations. The cash impact of these obligations are substantially complete.

2021 Restructuring Actions [Member]

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring Reserve by Segment

The charges related to the 2021 Restructuring Actions related to the segments, as well as corporate expenses, for the years ended December 31, 2023, 2022 and 2021 were as follows:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Seed	$	—	$	(1)	$	31
Crop Protection	6		(1)		55
Corporate expenses	1		(5)		81
Total	$	7	$	(7)	$	167

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

The following table is a summary of charges incurred related to the 2021 Restructuring Actions for the years ended December 31, 2023, 2022 and 2021:

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Severance and related benefit costs	$	1	$	(5)	$	74
Asset related charges	6		—		51
Contract termination charges	—		(2)		42
Total restructuring and asset related charges - net	$	7	$	(7)	$	167

Crop Protection Strategy Operations Program [Member]

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

(In millions)	For the Year Ended December 31, 2023
Asset related charges1	$	214
Contract termination charges	3
Total restructuring and asset related charges - net2	$	217

1.Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment, as noted above.

2.This amount excludes charges relating to spare parts write-offs included in cost of goods sold, in the company’s Consolidated Statement of Operations, as noted above.

A reconciliation of the December 31, 2022 to the December 31, 2023 liability balances related to the Crop Protection Operations Strategy Program is summarized below:

(In millions)	Asset Related1		Contract Termination		Total
Balance at December 31, 2022	$	—	$	—	$	—
Charges to income from continuing operations	214		3		217
Payments	—		(3)		(3)
Asset write-offs	(214)		—		(214)
Balance at December 31, 2023	$	—	$	—	$	—

1.Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment, as noted above.

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Supplementary Information (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Other Nonoperating Income (Expense)

Other Income (Expense) - Net	For the Year Ended December 31,
(In millions)	2023		2022		2021
Interest income	$	283	$	124	$	77
Equity in earnings (losses) of affiliates - net	10		20		14
Net gain (loss) on sales of businesses and other assets1	22		18		21
Net exchange gains (losses)2	(397)		(229)		(54)
Non-operating pension and other post-employment benefit credits (costs)3	(119)		163		1,318
Miscellaneous income (expenses) - net4	(247)		(156)		(28)
Other income (expense) - net	$	(448)	$	(60)	$	1,348

1.    The years ended December 31, 2022 and 2021 include a gain of $15 million and $19 million, respectively, relating to the sale of a business in the crop protection segment.

2.    Includes net pre-tax exchange gains (losses) of $(284) million, $(110) million and $(67) million associated with the devaluation of the Argentine peso for the years ended December 31, 2023, 2022 and 2021, respectively.

3.    Includes non-service related components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized gain (loss), amortization of prior service benefit and settlement gain (loss)). 

4.    Includes losses from sale of receivables, tax indemnification adjustments related to changes in indemnification balances as a result of the application of the terms of the Tax Matters Agreement between Corteva and Dow and/or DuPont, and other items. The years ended December 31, 2023, 2022, and 2021 also includes an Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”). The years ended December 31, 2023 and 2022 also includes estimated settlement reserves and gains (losses) associated with the sale of businesses, assets and equity investments. The year ended December 31, 2022 also includes legal accruals and settlement cost associated with the Russia Exit. The year ended December 31, 2021 also includes a charge related to a contract termination with a third-party service provider, a gain from the remeasurement of an equity investment and an officer indemnification payment. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information on significant items.

Foreign Currency Exchange Gain (Loss)

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Subsidiary Monetary Position Gain (Loss)
Pre-tax exchange gain (loss)	$	(371)	$	(217)	$	(72)
Local tax (expenses) benefits	55		(10)		(30)
Net after-tax impact from subsidiary exchange gain (loss)	$	(316)	$	(227)	$	(102)
Hedging Program Gain (Loss)
Pre-tax exchange gain (loss)	$	(26)	$	(12)	$	18
Tax (expenses) benefits	7		5		(4)
Net after-tax impact from hedging program exchange gain (loss)	$	(19)	$	(7)	$	14
Total Exchange Gain (Loss)
Pre-tax exchange gain (loss)	$	(397)	$	(229)	$	(54)
Tax (expenses) benefits	62		(5)		(34)
Net after-tax exchange gain (loss)	$	(335)	$	(234)	$	(88)

Restrictions on Cash and Cash Equivalents

(In millions)	December 31, 2023		December 31, 2022
Cash and cash equivalents	$	2,644	$	3,191
Restricted cash equivalents	514		427
Total cash, cash equivalents and restricted cash equivalents	$	3,158	$	3,618

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Geographic Allocation of Income and Provision for Income Taxes

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations before income taxes
Domestic	$	(414)	$	(1)	$	941
Foreign	1,507		1,427		1,405
Income (loss) from continuing operations before income taxes	$	1,093	$	1,426	$	2,346
Current tax expense (benefit)
Federal	$	143	$	65	$	(13)
State and local	40		21		6
Foreign	407		403		329
Total current tax expense (benefit)	$	590	$	489	$	322
Deferred tax expense (benefit)
Federal	$	(326)	$	(170)	$	164
State and local	(50)		(39)		55
Foreign	(62)		(70)		(17)
Total deferred tax expense (benefit)	$	(438)	$	(279)	$	202
Provision for (benefit from) income taxes on continuing operations	152		210		524
Net income (loss) from continuing operations after taxes	$	941	$	1,216	$	1,822

Reconciliation to US Statutory Rate

Reconciliation to U.S. Statutory Rate	For the Year Ended December 31,
	2023		2022		2021
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Effective tax rates on international operations - net1	(1.8)		(3.5)		(2.5)
Acquisitions, divestitures and ownership restructuring activities2	3.6		(5.4)		(0.1)
U.S. research and development credit	(5.9)		(2.2)		(2.4)
Exchange gains/losses3	2.0		3.7		1.9
State and local incomes taxes - net	0.9		0.3		2.1
Impact of Swiss Tax Changes4	(7.9)		—		0.2
Excess tax benefits/deficiencies from stock compensation	(0.5)		(0.7)		(0.2)
Tax settlements and expiration of statute of limitations	(0.3)		0.1		—
Repatriation of foreign earnings5	2.9		1.7		1.0
Other – net	(0.1)		(0.3)		1.3
Effective tax rate on income from continuing operations	13.9	%	14.7	%	22.3	%

1.    Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

2.     Includes net tax charge of $46 million for the year ended December 31, 2023, associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

3.    Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

4. Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

5. Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

Deferred Tax Balances

Deferred Tax Balances at December 31,	2023				2022
(In millions)	Assets		Liabilities		Assets		Liabilities
Property	$	—	$	353	$	—	$	447
Operating loss and tax credit carryforwards1	539		—		363		—
Accrued employee benefits	703		—		680		—
Other accruals and reserves	603		—		545		—
Intangibles	—		2,153		—		2,106
Inventory	193		—		198		—
Research and development capitalization	607		—		418		—
Investments	39		—		40		—
Unrealized exchange gains/losses	—		38		—		29
Other – net	55		—		40		—
Subtotal	$	2,739	$	2,544	$	2,284	$	2,582
Valuation allowances2	(510)		—		(342)		—
Total	$	2,229	$	2,544	$	1,942	$	2,582
Net Deferred Tax Asset (Liability)	$	(315)			$	(640)

1.    Primarily related to tax loss and credit carryforwards from operations in the United States, Switzerland, and Spain.

2.    During the year ended December 31, 2023, the company adjusted the valuation allowances recorded against the net deferred tax asset position of various legal entities, the largest of which relates to legal entities in Switzerland and Argentina.

Operating Loss and Tax Credit Carryforwards

Operating Loss and Tax Credit Carryforwards	Deferred Tax Asset
(In millions)	2023		2022
Operating loss carryforwards
Expire within 5 years	$	103	$	127
Expire after 5 years or indefinite expiration	303		158
Total operating loss carryforwards	$	406	$	285
Tax credit carryforwards
Expire within 5 years	$	59	$	15
Expire after 5 years or indefinite expiration	74		63
Total tax credit carryforwards	$	133	$	78
Total Operating Loss and Tax Credit Carryforwards	$	539	$	363

Total Gross Unrecognized Tax Benefits

Total Gross Unrecognized Tax Benefits	For the Year Ended December 31,
(In millions)	2023		2022		2021
Total unrecognized tax benefits as of beginning of period	$	357	$	377	$	395
Decreases related to positions taken on items from prior years	—		(3)		(7)
Increases related to positions taken on items from prior years	23		4		13
Increases related to positions taken in the current year	16		11		9
Settlement of uncertain tax positions with tax authorities	(4)		(24)		(17)
Decreases due to expiration of statutes of limitations	(2)		(5)		(16)
Exchange (gain) loss	—		(3)		—
Total unrecognized tax benefits as of end of period	$	390	$	357	$	377
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	173	$	139	$	157
Total amount of interest and penalties (benefits) recognized in provision for (benefit from) income taxes on continuing operations	$	1	$	1	$	1
Total accrual for interest and penalties associated with unrecognized tax benefits at end of period	$	11	$	13	$	11

Tax Year Subject to Examination

Tax Years Subject to Examination by Major Tax Jurisdiction at December 31, 2023	Earliest Open Year
Jurisdiction
Argentina	2017
Brazil	2018
Canada	2016
China	2014
France	2021
India	2022
Italy	2017
Switzerland	2018
United States:
Federal income tax	2012
State and local income tax	2012

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Earnings Per Share of Common Stock (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table Text Block]

Earnings (Loss) Per Share Calculations - Basic	For the Year Ended December 31,
(Dollars per share)	2023		2022		2021
Earnings (loss) per share of common stock from continuing operations	$	1.31	$	1.67	$	2.46
Earnings (loss) per share of common stock from discontinued operations	(0.27)		(0.08)		(0.07)
Earnings (loss) per share of common stock	$	1.04	$	1.59	$	2.39

Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Table Text Block]

Earnings (Loss) Per Share Calculations - Diluted	For the Year Ended December 31,
(Dollars per share)	2023		2022		2021
Earnings (loss) per share of common stock from continuing operations	$	1.30	$	1.66	$	2.44
Earnings (loss) per share of common stock from discontinued operations	(0.27)		(0.08)		(0.07)
Earnings (loss) per share of common stock	$	1.03	$	1.58	$	2.37

Share Count Information [Table Text Block]

Share Count Information	For the Year Ended December 31,
(Shares in millions)	2023	2022	2021
Weighted-average common shares - basic	709.0	720.8	735.9
Plus dilutive effect of equity compensation plans1	2.9	3.7	5.7
Weighted-average common shares - diluted	711.9	724.5	741.6
Potential shares of common stock excluded from EPS calculations2	2.3	1.5	2.8

1.Diluted earnings (loss) per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.

2.These outstanding potential shares of common stock relating to stock options, restricted stock units and performance-based restricted stock units were excluded from the calculation of diluted earnings (loss) per share because (i) the effect of including them would have been anti-dilutive; and (ii) the performance metrics have not yet been achieved for the outstanding potential shares relating to performance-based restricted stock units, which are deemed to be contingently issuable.

Earnings Per Share of Common Stock Reconciliation

Net Income (Loss) for Earnings Per Share Calculations - Basic and Diluted	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	941	$	1,216	$	1,822
Net income (loss) attributable to continuing operations noncontrolling interests	12		11		10
Income (loss) from continuing operations available to Corteva common stockholders	929		1,205		1,812
Income (loss) from discontinued operations available to Corteva common stockholders	(194)		(58)		(53)
Net income (loss) available to common stockholders	$	735	$	1,147	$	1,759

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Accounts and Notes Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of Accounts and Notes Receivable

(In millions)	December 31, 2023		December 31, 2022
Accounts receivable – trade1	$	4,210	$	4,168
Notes receivable – trade1,2	119		93
Other3	1,159		1,440
Total accounts and notes receivable - net	$	5,488	$	5,701

1.Accounts and notes receivable – trade are net of allowances of $205 million and $194 million at December 31, 2023 and 2022, respectively.

2.Notes receivable – trade primarily consists of receivables for deferred payment loan programs for the sale of seed and crop protection products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2023 and 2022, there were no significant impairments related to current loan agreements.

3.Other includes receivables in relation to indemnification assets, value added tax, general sales tax and other taxes. No individual group represents more than 5 percent of total current assets. In addition, Other includes amounts due from nonconsolidated affiliates of $131 million and $148 million as of December 31, 2023 and 2022, respectively.

Accounts Receivable, Allowance for Credit Loss

(In millions)
Balance at December 31, 2021	$	210
Net provision for credit losses	(13)
Other - net of write-offs charged against allowance	(3)
Balance at December 31, 2022	$	194
Net provision for credit losses	11
Other - net of write-offs charged against allowance	—
Balance at December 31, 2023	$	205

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Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Inventory, Net [Abstract]

Schedule of Inventory, Current [Table Text Block]

(In millions)	December 31, 2023		December 31, 2022
Finished products	$	3,273	$	3,260
Semi-finished products	2,775		2,689
Raw materials and supplies	851		862
Total inventories	$	6,899	$	6,811

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Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

(In millions)	December 31, 20231		December 31, 2022
Land and land improvements	$	440	$	416
Buildings	1,671		1,541
Machinery and equipment	6,315		6,077
Construction in progress	530		517
Total property, plant and equipment	8,956		8,551
Accumulated depreciation	(4,669)		(4,297)
Total property, plant and equipment - net	$	4,287	$	4,254

Property, Plant and Equipment - Depreciation Expense [Table Text Block]

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Depreciation expense	$	528	$	521	$	521

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Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Asset Disclosure [Abstract]

Schedule of Goodwill

(In millions)	Crop Protection		Seed		Total
Balance as of December 31, 2021	$	4,672	$	5,435	$	10,107
Currency translation adjustment	(63)		(72)		(135)
Other goodwill adjustments1	9		(19)		(10)
Balance as of December 31, 2022	$	4,618	$	5,344	$	9,962
Acquisitions2	512		—		512
Currency translation adjustment	53		78		131
Balance as of December 31, 2023	$	5,183	$	5,422	$	10,605

1.Consists primarily of the goodwill included in the sale of a business in the crop protection segment and reallocation of the former digital reporting unit goodwill between the seed and the crop protection segments.

2.On March 1, 2023, the company completed the acquisitions of Stoller and Symborg, which are included in the crop protection segment. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

Other Intangible Assets

(In millions)	December 31, 20231						December 31, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Intangible assets subject to amortization (finite-lived):
Germplasm	$	6,291	$	(1,081)	$	5,210	$	6,291	$	(826)	$	5,465
Customer-related	2,427		(734)		1,693		1,912		(585)		1,327
Developed technology	1,849		(1,004)		845		1,485		(830)		655
Trademarks/trade names	2,111		(339)		1,772		2,009		(251)		1,758
Other2	395		(294)		101		395		(271)		124
Total other intangible assets with finite lives	13,073		(3,452)		9,621		12,092		(2,763)		9,329
Intangible assets not subject to amortization (indefinite-lived):
IPR&D	5		—		5		10		—		10
Total other intangible assets with indefinite lives	5		—		5		10		—		10
Total other intangible assets	$	13,078	$	(3,452)	$	9,626	$	12,102	$	(2,763)	$	9,339

1.Includes the intangible assets acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

2.Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

(In millions)
2024	$	683
2025	646
2026	636
2027	576
2028	554

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Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lease, Cost [Table Text Block]

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Operating lease cost	$	169	$	152	$	158
Finance lease cost
Amortization of right-of-use assets	1		1		1
Total finance lease cost	1		1		1
Short-term lease cost	23		18		14
Variable lease cost	11		8		8
Total lease cost	$	204	$	179	$	181

Schedule of Supplemental Cash Flow Information Related to Leases [Table Text Block]

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	169	$	155	$	169
Financing cash outflows from finance leases	$	1	$	1	$	1

Schedule of Lease Assets and Liabilities [Table Text Block]

(In millions)	December 31, 2023		December 31, 2022
Operating Leases
Operating lease right-of-use assets1	$	412	$	460
Current operating lease liabilities2	131		119
Noncurrent operating lease liabilities3	355		331
Total operating lease liabilities	$	486	$	450
Finance Leases
Property, plant, and equipment, gross	$	14	$	14
Accumulated depreciation	(13)		(11)
Property, plant, and equipment, net	1		3
Short-term borrowings and finance lease obligations	1		1
Long-Term Debt	1		2
Total finance lease liabilities	$	2	$	3

1.Included in other assets in the Consolidated Balance Sheet.

2.Included in accrued and other current liabilities in the Consolidated Balance Sheet.

3.Included in other noncurrent obligations in the Consolidated Balance Sheet.

Lease Term and Discount Rate [Table Text Block]

Lease Term and Discount Rate	December 31, 2023		December 31, 2022
Weighted-average remaining lease term (years)
Operating leases	6.63		7.19
Financing leases	1.36		2.36
Weighted average discount rate
Operating leases	2.98	%	3.14	%
Financing leases	3.29	%	3.29	%

Maturities of Lease Liabilities [Table Text Block]

Maturity of Lease Liabilities at December 31, 2023	Operating Leases		Financing Leases
(In millions)
2024	$	139	$	1
2025	108		1
2026	87		—
2027	54		—
2028	43		—
2029 and thereafter	99		—
Total lease payments	530		2
Less: Interest	44		—
Present value of lease liabilities	$	486	$	2

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Long-Term Debt and Available Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Short-Term Borrowings and Finance Lease Obligations

Short-term borrowings and finance lease obligations
(In millions)	December 31, 2023		December 31, 2022
Other loans - various currencies	$	1	$	23
Long-term debt payable within one year	196		—
Finance lease obligations payable within one year	1		1
Total short-term borrowings and finance lease obligations	$	198	$	24

Long-Term Debt

Long-Term Debt
	December 31, 2023				December 31, 2022
(In millions)	Amount		Weighted Average Rate		Amount		Weighted Average Rate
Promissory notes and debentures:
Maturing in 2025	$	500	1.70	%	$	500	1.70	%
Maturing in 2026	600		4.50	%	—
Maturing in 2030	500		2.30	%	500		2.30	%
Maturing in 2033	600		4.80	%	—
Other loans:
Foreign currency loans, various rates and maturities	196		14.80	%	181		14.80	%
Medium-term notes, varying maturities through 2041	106		5.34	%	107		4.27	%
Finance lease obligations	1				2
Less: Unamortized debt discount and issuance costs	16				7
Less: Long-term debt due within one year	196				—
Total	$	2,291			$	1,283

Committed and Available Credit Facilities

Committed and Available Credit Facilities at December 31, 2023
(In millions)	Effective Date	Committed Credit		Credit Available		Maturity Date	Interest
Revolving Credit Facility	May 2022	$	3,000	$	3,000	May 2027	Floating Rate
Revolving Credit Facility	May 2022	2,000		2,000		May 2025	Floating Rate
364-Day Revolving Credit Facility	January 2023	500		500		January 2024	Floating Rate
Total Committed and Available Credit Facilities		$	5,500	$	5,500

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Commitments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Environmental Loss Contingencies

	As of December 31, 2023
(In millions)	Indemnification Asset		Accrual balance3		Potential exposure above amount accrued3
Environmental Remediation Stray Liabilities
Chemours related obligations - subject to indemnity1,2	$	150	$	150	$	286
Other discontinued or divested businesses obligations1	44		65		198
Environmental remediation liabilities primarily related to DuPont - subject to indemnity from DuPont2	59		63		63
Environmental remediation liabilities not subject to indemnity	—		106		78
Indemnification liabilities related to the MOU4	26		117		29
Total	$	279	$	501	$	654

1.Represents liabilities that are subject to the $200 million threshold and sharing arrangements as discussed on page F-39, under the header "Corteva Separation Agreement."

2.The company has recorded an indemnification asset related to these accruals, including $31 million related to the Superfund sites.

3.Accrual balance represents management’s best estimate of the costs of remediation and restoration, although it is reasonably possible that the potential exposure, as indicated, could range above the amounts accrued, as there are inherent uncertainties in these estimates. Accrual balance includes $55 million for remediation of Superfund sites. Amounts do not include possible impacts from the remediation elements of the EPAs October 2021 PFAS Strategic Roadmap (as applicable), except as disclosed on page F-44 relating to Chemours' remediation activities at the Fayetteville Works Facility pursuant to the Consent Order with the North Carolina Department of Environmental Quality ("NC DEQ").

4.Represents liabilities that are subject to the $150 million threshold and sharing agreements as discussed on page F-38, under the header "Chemours / Performance Chemicals."

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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Reconciliation of Common Stock Share Activity

Shares of common stock	Issued
Balance December 31, 2020	743,458,000
Issued	4,019,000
Repurchased and retired	(20,950,000)
Balance December 31, 2021	726,527,000
Issued	4,317,000
Repurchased and retired	(17,425,000)
Balance December 31, 2022	713,419,000
Issued	1,965,000
Repurchased and retired	(14,124,000)
Balance December 31, 2023	701,260,000

Schedule of Noncontrolling Interests Represented by Preferred Stock [Table Text Block]

(Shares in thousands)	Number of Shares
Authorized	23,000
$4.50 Series, callable at $120	1,673
$3.50 Series, callable at $102	700

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

(In millions)	Cumulative Translation Adjustment1		Derivative Instruments		Pension Benefit Plans		Other Benefit Plans		Unrealized Gain (Loss) on Investments		Total
2021
Balance January 1, 2021	$	(1,970)	$	(67)	$	(1,433)	$	590	$	(10)	$	(2,890)
Other comprehensive income (loss) before reclassifications	(573)		143		996		25		3		594
Amounts reclassified from accumulated other comprehensive income (loss)	—		(4)		41		(646)		7		(602)
Net other comprehensive income (loss)	(573)		139		1,037		(621)		10		(8)
Balance December 31, 2021	$	(2,543)	$	72	$	(396)	$	(31)	$	—	$	(2,898)
2022
Other comprehensive income (loss) before reclassifications	(340)		63		213		190		—		126
Amounts reclassified from accumulated other comprehensive income (loss)	—		(55)		20		1		—		(34)
Net other comprehensive income (loss)	(340)		8		233		191		—		92
Balance December 31, 2022	$	(2,883)	$	80	$	(163)	$	160	$	—	$	(2,806)
2023
Other comprehensive income (loss) before reclassifications	425		(123)		(188)		38		—		152
Amounts reclassified from accumulated other comprehensive income (loss)	—		(12)		(2)		(9)		—		(23)
Net other comprehensive income (loss)	425		(135)		(190)		29		—		129
Balance December 31, 2023	$	(2,458)	$	(55)	$	(353)	$	189	$	—	$	(2,677)

1.The cumulative translation adjustment gains for the year ended December 31, 2023 was primarily driven by the weakening of the U.S. Dollar (“USD”) against the Swiss Franc ("CHF"), Brazilian Real ("BRL") and European Euro ("EUR"). The cumulative translation adjustment losses for the year ended December 31, 2022 was primarily driven by the strengthening of the U.S. Dollar (“USD”) against the European Euro ("EUR"), Indian Rupee (“INR”), South African Rand (“ZAR”) and Philippine Peso (“PHP”). The cumulative translation adjustment losses for the year ended December 31, 2021 was primarily driven by the strengthening of the U.S. Dollar ("USD") against the European Euro ("EUR"), Swiss franc ("CHF") and Turkish Lira (“TRY”).

Other Comprehensive Income (Loss)

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Derivative instruments	$	50	$	3	$	(41)
Pension benefit plans - net	60		(68)		(319)
Other benefit plans - net	(9)		(56)		188
(Provision for) benefit from income taxes related to other comprehensive income (loss) items	$	101	$	(121)	$	(172)

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Derivative Instruments1:	$	(8)	$	(63)	$	(13)
Tax (benefit) expense2	(4)		8		9
After-tax	$	(12)	$	(55)	$	(4)
Amortization of pension benefit plans:
Prior service (benefit) cost3,4	$	(3)	$	(3)	$	(2)
Actuarial (gains) losses3,4	—		3		55
Settlement (gain) loss3,4	—		25		1
Total before tax	(3)		25		54
Tax (benefit) expense2	1		(5)		(13)
After-tax	$	(2)	$	20	$	41
Amortization of other benefit plans:
Prior service (benefit) cost3,4	$	(2)	$	(1)	$	(922)
Actuarial (gains) losses3,4	(10)		2		81
Curtailment (gain) loss	—		—		(1)
Total before tax	(12)		1		(842)
Tax (benefit) expense2	3		—		196
After-tax	$	(9)	$	1	$	(646)
Unrealized (Gain) Loss on Investments4	$	—	$	—	$	7
Tax (benefit) expense2	—		—		—
After-tax	$	—	$	—	$	7
Total reclassifications for the period, after-tax	$	(23)	$	(34)	$	(602)

1.Reflected in cost of goods sold in the Consolidated Statements of Operations.

2.Reflected in provision for (benefit from) income taxes from continuing operations in the Consolidated Statements of Operations.

3.These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit (credit) cost of the company's pension and other benefit plans. See Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

4.Reflected in other income (expense) - net in the Consolidated Statements of Operations.

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Pension Plans and Other Post Employment Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Defined Benefit Plan, Assumptions [Table Text Block]

The weighted-average assumptions used to determine pension plan obligations for all pension plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Benefit Obligations	December 31, 2023		December 31, 2022
Discount rate	4.97	%	5.17	%
Rate of increase in future compensation levels1	2.87	%	2.83	%

1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

The weighted-average assumptions used to determine net periodic benefit costs for all pension plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost	For the Year Ended December 31,
	2023		2022		2021
Discount rate	5.17	%	3.33	%	2.44	%
Rate of increase in future compensation levels1	2.83	%	2.55	%	2.54	%
Expected long-term rate of return on plan assets	4.55	%	4.51	%	5.73	%

1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

The weighted-average assumptions used to determine benefit obligations for OPEB plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Benefit Obligations	December 31, 2023		December 31, 2022
Discount rate	4.92	%	5.09	%

The weighted-average assumptions used to determine net periodic benefit costs for the OPEB plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost	For the Year Ended December 31,
	2023		2022		2021
Discount rate	5.09	%	2.59	%	2.09	%

As of December 31, 2023, 2022 and 2021, health care cost trend rates do not impact the benefit obligations for the OPEB plans because of the 2020 OPEB Plan Amendments.

Schedule of Pension Plans and Other Postemployment Benefits [Table Text Block]

Summarized information on the company's pension and other post-employment benefit plans is as follows:

Change in Projected Benefit Obligations, Plan Assets and Funded Status
	Defined Benefit Pension Plans				Other Post-Employment Benefits
(In millions)	For the Year Ended December 31,				For the Year Ended December 31,
	2023		2022		2023		2022
Change in benefit obligations:
Benefit obligation at beginning of the period	$	13,982	$	19,775	$	1,021	$	1,362
Service cost	18		20		1		1
Interest cost	690		505		49		26
Plan participants' contributions	1		1		20		20
Actuarial (gain) loss	311		(3,759)		(49)		(246)
Benefits paid	(1,304)		(1,460)		(117)		(142)
Other1	(257)		(1,080)		—		—
Effect of foreign exchange rates	(1)		(20)		—		—
Benefit obligations at end of the period	$	13,440	$	13,982	$	925	$	1,021
Change in plan assets:
Fair value of plan assets at beginning of the period	$	12,584	$	17,827	$	—	$	—
Actual return on plan assets	661		(2,765)		—		—
Employer contributions	52		60		97		122
Plan participants' contributions	1		1		20		20
Benefits paid	(1,304)		(1,460)		(117)		(142)
Other1	(257)		(1,080)		—		—
Effect of foreign exchange rates	18		1		—		—
Fair value of plan assets at end of the period	$	11,755	$	12,584	$	—	$	—
Funded status
U.S. plan with plan assets	$	(1,336)	$	(1,050)	$	—	$	—
Non-U.S. plans with plan assets	(43)		(30)		—		—
All other plans 2,3	(306)		(318)		(925)		(1,021)
Funded status at end of the period	$	(1,685)	$	(1,398)	$	(925)	$	(1,021)

1.Primarily relates to transfers of certain benefit obligations and related assets associated with the principal U.S. pension plan to an insurance company through the purchase of nonparticipating group annuity contracts.

2.As of December 31, 2023 and 2022, $155 million and $182 million, respectively, of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below.

3.Includes pension plans maintained around the world where funding is not customary.

	Defined Benefit Pension Plans				Other Post-Employment Benefits
(In millions)	December 31, 2023		December 31, 2022		December 31, 2023		December 31, 2022
Amounts recognized in the Consolidated Balance Sheets:
Other assets	$	2	$	3	$	—	$	—
Accrued and other current liabilities	(31)		(35)		(114)		(132)
Pension and other post-employment benefits - noncurrent	(1,656)		(1,366)		(811)		(889)
Net amount recognized	$	(1,685)	$	(1,398)	$	(925)	$	(1,021)
Pretax amounts recognized in accumulated other comprehensive income (loss):
Net gain (loss)	$	(487)	$	(238)	$	238	$	198
Prior service benefit (cost)	22		23		14		16
Pretax balance in accumulated other comprehensive income (loss) at end of year	$	(465)	$	(215)	$	252	$	214

Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]

Pension Plans with Projected Benefit Obligations in Excess of Plan Assets	December 31, 2023		December 31, 2022
(In millions)
Projected benefit obligations	$	13,262	$	13,832
Fair value of plan assets	11,575		12,430

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]

Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets	December 31, 2023		December 31, 2022
(In millions)
Accumulated benefit obligations	$	13,155	$	13,676
Fair value of plan assets	11,488		12,290

Schedule of Net Benefit Costs [Table Text Block]

(In millions)	Defined Benefit Pension Plans						Other Post-Employment Benefits
	For the Year Ended December 31,						For the Year Ended December 31,
Components of net periodic benefit (credit) cost and amounts recognized in other comprehensive income (loss)	2023		2022		2021		2023		2022		2021
Net Periodic Benefit (Credit) Cost:
Service cost	$	18	$	20	$	25	$	1	$	1	$	1
Interest cost	690		505		364		49		26		21
Expected return on plan assets	(605)		(720)		(915)		—		—		—
Amortization of unrecognized loss (gain)	—		3		55		(10)		2		81
Amortization of prior service (benefit) cost	(3)		(3)		(2)		(2)		(1)		(922)
Curtailment (gain) loss	—		—		—		—		—		(1)
Settlement loss	—		25		1		—		—		—
Net periodic benefit (credit) cost - Total	$	100	$	(170)	$	(472)	$	38	$	28	$	(820)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net gain (loss)	$	(255)	$	274	$	1,284	$	49	$	246	$	33
Amortization of unrecognized (gain) loss	—		3		55		(10)		2		81
Prior service benefit (cost)	—		—		15		—		—		—
Amortization of prior service (benefit) cost	(3)		(3)		(2)		(2)		(1)		(922)
Curtailment (gain) loss	—		—		—		—		—		(1)
Settlement loss	—		25		1		—		—		—
Effect of foreign exchange rates	8		2		3		1		—		—
Total benefit (loss) recognized in other comprehensive income (loss), attributable to Corteva	$	(250)	$	301	$	1,356	$	38	$	247	$	(809)
Total recognized in net periodic benefit (credit) cost and other comprehensive income (loss)	$	(350)	$	471	$	1,828	$	—	$	219	$	11

Schedule of Expected Benefit Payments [Table Text Block]

Estimated Future Benefit Payments at December 31, 2023	Defined Benefit Pension Plans		Other Post-Employment Benefits
(In millions)
2024	$	1,251	$	113
2025	1,214		106
2026	1,182		99
2027	1,149		93
2028	1,112		86
Years 2029-2033	4,994		344
Total	$	10,902	$	841

Schedule of Allocation of Plan Assets [Table Text Block]

Target Allocation for Plan Assets	December 31, 2023		December 31, 2022
Asset Category
U.S. equity securities	9	%	8	%
Non-U.S. equity securities	5		7
Fixed income securities	64		64
Hedge funds	2		3
Private market securities	11		11
Real estate	7		6
Cash and cash equivalents	2		1
Total	100	%	100	%

Basis of Fair Value Measurements	Total		Level 1		Level 2		Level 3
For the year ended December 31, 2023
(In millions)
Cash and cash equivalents	$	1,148	$	1,148	$	—	$	—
U.S. equity securities 1	1,108		1,106		1		1
Non-U.S. equity securities	441		439		—		2
Debt – government-issued	1,601		—		1,601		—
Debt – corporate-issued	3,908		—		3,906		2
Debt – asset-backed	637		—		637		—
Hedge funds	5		—		2		3
Private market securities	6		—		—		6
Real estate funds	52		—		—		52
Other	55		—		—		55
Subtotal	$	8,961	$	2,693	$	6,147	$	121
Investments measured at net asset value
Debt - government issued	42
Debt - corporate-issued	3
U.S. equity securities	19
Non-U.S. equity securities	21
Hedge funds	143
Private market securities	1,928
Real estate funds	768
Total investments measured at net asset value	$	2,924
Other items to reconcile to fair value of plan assets
Pension trust receivables 2	315
Pension trust payables 3	(445)
Total	$	11,755

1.The Corteva pension plans directly held $204 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2023.

2.Primarily receivables for investments securities sold.

3.Primarily payables for investment securities purchased.

Basis of Fair Value Measurements
For the year ended December 31, 2022
(In millions)	Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	1,348	$	1,348	$	—	$	—
U.S. equity securities1	1,200		1,195		2		3
Non-U.S. equity securities	806		806		—		—
Debt – government-issued	1,669		—		1,669		—
Debt – corporate-issued	3,822		—		3,822		—
Debt – asset-backed	695		—		695		—
Hedge funds	3		—		—		3
Private market securities	4		—		—		4
Real estate funds	132		—		—		132
Derivatives – asset position	2		—		2		—
Other	62		—		—		62
Subtotal	$	9,743	$	3,349	$	6,190	$	204
Investments measured at net asset value
Debt - government issued	35
Debt - corporate-issued	3
U.S. equity securities	20
Non-U.S. equity securities	20
Hedge funds	347
Private market securities	1,991
Real estate funds	669
Total investments measured at net asset value	$	3,085
Other items to reconcile to fair value of plan assets
Pension trust receivables2	161
Pension trust payables3	(405)
Total	$	12,584

1.The Corteva pension plans directly held $250 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2022.

2.Primarily receivables for investments securities sold.

3.Primarily payables for investment securities purchased.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

Fair Value Measurement of Level 3 Pension Plan Assets	U.S. equity securities		Non-U.S. equity securities		Debt – corporate-issued		Hedge funds		Private market securities		Real estate		Other		Total
(In millions)
Balance at January 1, 2022	$	4	$	—	$	2	$	—	$	3	$	26	$	75	$	110
Actual return on assets:
Relating to assets sold during the year ended December 31, 2022	1		—		(15)		—		(9)		—		—		(23)
Relating to assets held at December 31, 2022	—		(13)		13		(8)		10		8		(1)		9
Purchases, sales and settlements, net	(2)		1		—		—		—		(1)		(12)		(14)
Transfers in or out of Level 3, net	—		12		—		11		—		99		—		122
Balance at December 31, 2022	$	3	$	—	$	—	$	3	$	4	$	132	$	62	$	204
Actual return on assets:
Relating to assets sold during the year ended December 31, 2023	(1)		(9)		—		—		—		—		—		(10)
Relating to assets held at December 31, 2023	—		10		(5)		—		2		(24)		4		(13)
Purchases, sales and settlements, net	(1)		1		7		—		—		(35)		(13)		(41)
Transfers in or out of Level 3, net	—		—		—		—		—		(21)		2		(19)
Balance at December 31, 2023	$	1	$	2	$	2	$	3	$	6	$	52	$	55	$	121

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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted Average Assumptions - Stock Option Awards

Weighted-Average Assumptions	For the Year ended December 31,
	2023		2022		2021
Dividend yield	0.96	%	1.09	%	1.14	%
Expected volatility	31.07	%	28.95	%	29.44	%
Risk-free interest rate	4.1	%	1.9	%	1.0	%
Expected life of stock options granted during period (years)	6.0		6.0		6.0

OIP [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Option Activity

Stock Options	For the Year Ended December 31, 2023
	Number of Shares (in thousands)	Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2023	4,225	$	39.13	5.37	$	82,917
Granted	298	62.29
Exercised	(547)	33.81
Forfeited/Expired	(60)	39.86
Outstanding at December 31, 2023	3,916	$	41.61	4.99	$	30,060
Exercisable at December 31, 2023	3,255	$	38.91	4.32	$	29,735

RSU and PSU Activity

RSUs & PSUs	For the Year Ended December 31, 2023
	Number of Shares (in thousands)	Weighted Average Grant Date Fair Value (per share)
Nonvested at January 1, 2023	3,955	$	43.56
Granted	1,309	62.22
Vested	(1,501)	38.48
Forfeited	(267)	39.36
Nonvested at December 31, 2023	3,496	$	53.05

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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative [Line items]

Fair Value of Derivatives Instruments

		December 31, 2023
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1		Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	$	—	$	—
Commodity Contracts	Other current assets	3		—		3
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	83		(33)		50
Commodity Contracts	Other current assets	2		—		2
Total asset derivatives		$	88	$	(33)	$	55
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	23	$	—	$	23
Commodity Contracts	Accrued and other current liabilities	6		—		6
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	38		(33)		5
Commodity contracts	Accrued and other current liabilities	8		—		8
Total liability derivatives		$	75	$	(33)	$	42

		December 31, 2022
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1		Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	41	$	—	$	41
Commodity Contracts	Other current assets	4		—		4
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	51		(40)		11
Total asset derivatives		$	96	$	(40)	$	56
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	9	$	—	$	9
Commodity contracts	Accrued and other current liabilities	3		—		3
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	58		(40)		18
Total liability derivatives		$	70	$	(40)	$	30

1.    Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.

Effect of Derivative Instruments

	Amount of Gain (Loss) Recognized in OCI1 - Pre-Tax
	For the Year Ended December 31,
(In millions)	2023		2022		2021
Derivatives designated as hedging instruments:
Net investment hedges:
Foreign currency contracts	$	—	$	28	$	37
Cash flow hedges:
Foreign currency contracts	(54)		(90)		27
Commodity contracts	(123)		130		129
Total derivatives designated as hedging instruments	$	(177)	$	68	$	193

1.OCI is defined as other comprehensive income (loss).

(in millions)	Amount of Gain (Loss) Recognized in Income - Pre-Tax1
	For the Year Ended December 31,
	2023		2022		2021
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign currency contracts2	$	(41)	$	(59)	$	(29)
Commodity contracts2	49		122		42
Total derivatives designated as hedging instruments	8		63		13
Derivatives not designated as hedging instruments:
Foreign currency contracts3	(28)		(12)		18
Foreign currency contracts2	(77)		(6)		(14)
Commodity contracts2,4	(20)		(21)		(18)
Commodity contracts3	2		—		—
Total derivatives not designated as hedging instruments	(123)		(39)		(14)
Total derivatives	$	(115)	$	24	$	(1)

1.For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.

2.Recorded in cost of goods sold, in the Consolidated Statement of Operations.

3.Recognized in other income (expense) - net, in the Consolidated Statement of Operations. Note that the net loss from foreign currency contracts was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 7 - Supplementary Information, to the Consolidated Financial Statements for additional information.

4.The net gain (loss) relating to commodity contracts that are not designated as hedging instruments that were recorded in cost of goods sold, in the Consolidated Statement of Operations, are mostly offset by the related net gain (loss) on third-party grower contracts denominated as liabilities.

Schedule of Available-for-sale Securities Reconciliation

Investing Results	For the Year Ended December 31,
(In millions)	2021
Proceeds from sales of available-for-sale securities	$	226
Gross realized losses	$	(7)

Commodity Contract [Member]

Derivative [Line items]

After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

	For the Year Ended December 31,
(In millions)	2023		2022		2021
Beginning balance	$	55	$	47	$	(16)
Additions and revaluations of derivatives designated as cash flow hedges	(87)		102		92
Clearance of hedge results to earnings	(39)		(94)		(29)
Ending balance	$	(71)	$	55	$	47

Foreign Exchange Contract [Member]

Derivative [Line items]

After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

(In millions)	For the Year Ended December 31,
	2023		2022		2021
Beginning balance	$	10	$	32	$	(17)
Additions and revaluations of derivatives designated as cash flow hedges	(36)		(61)		24
Clearance of hedges results to earnings	27		39		25
Ending balance	$	1	$	10	$	32

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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Significant Other Observable Inputs	December 31, 2023		December 31, 2022
(In millions)	Level 2		Level 2
Assets at fair value:
Marketable securities	$	98	$	124
Derivatives relating to:1
Foreign currency	83		92
Commodity Contracts	5		4
Total assets at fair value	$	186	$	220
Liabilities at fair value:
Derivatives relating to:1
Foreign currency	61		67
Commodity contracts	14		3
Total liabilities at fair value	$	75	$	70

1.See Note 20 - Financial Instruments, to the Consolidated Financial Statements, for the classification of derivatives in the Consolidated Balance Sheets.

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Geographic Information (Tables)

12 Months Ended

Dec. 31, 2023

Geographic Area, Revenues from External Customers [Abstract]

Net Sales by Geographic Area

	Net Sales
	For the Year Ended December 31,
(In millions)	2023		2022		2021
United States	$	7,783	$	7,553	$	6,782
Canada	807		741		754
EMEA	3,367		3,256		3,123
Latin America1	3,906		4,445		3,545
Asia Pacific	1,363		1,460		1,451
Total	$	17,226	$	17,455	$	15,655

1.Net sales for Brazil for the years ended December 31, 2023, 2022 and 2021 were $2,523 million, $3,137 million and $2,315 million, respectively.

Net Property By Geographic Area

	Net Property
	As of December 31,
(In millions)	2023		2022		2021
United States	$	2,922	$	2,992	$	3,051
Canada	119		116		114
EMEA	548		538		566
Latin America	608		506		468
Asia Pacific	90		102		130
Total	$	4,287	$	4,254	$	4,329

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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

(In millions)	Seed		Crop Protection		Total
As of and for the Year Ended December 31, 2023
Net sales	$	9,472	$	7,754	$	17,226
Segment operating EBITDA	2,117		1,374		3,491
Depreciation and amortization	814		397		1,211
Segment assets	22,732		15,004		37,736
Investments in nonconsolidated affiliates	39		76		115
Purchases of property, plant and equipment	332		263		595
As of and for the Year Ended December 31, 2022
Net sales	8,979		8,476		17,455
Segment operating EBITDA	1,656		1,684		3,340
Depreciation and amortization	839		384		1,223
Segment assets	22,952		14,097		37,049
Investments in nonconsolidated affiliates	35		67		102
Purchases of property, plant and equipment	225		380		605
As of and for the Year Ended December 31, 2021
Net sales	8,402		7,253		15,655
Segment operating EBITDA	1,512		1,202		2,714
Depreciation and amortization	866		377		1,243
Segment assets	23,270		12,428		35,698
Investments in nonconsolidated affiliates	29		47		76
Purchase of property, plant and equipment	237		336		573

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

Income (loss) from continuing operations after income taxes to segment operating EBITDA	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	941	$	1,216	$	1,822
Provision for (benefit from) income taxes on continuing operations	152		210		524
Income (loss) from continuing operations before income taxes	1,093		1,426		2,346
Depreciation and amortization	1,211		1,223		1,243
Interest income	(283)		(124)		(77)
Interest expense	233		79		30
Exchange (gains) losses - net	397		229		54
Non-operating (benefits) costs - net1	151		(111)		(1,256)
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges	—		—		—
Significant items	579		502		236
Corporate expenses	110		116		138
Segment operating EBITDA	$	3,491	$	3,340	$	2,714

1.The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

Segment assets to total assets (in millions)	December 31, 2023		December 31, 2022
Total segment assets	$	37,736	$	37,049
Corporate assets	5,260		5,569
Total assets	$	42,996	$	42,618

Schedule of Additional Segment Details [Table Text Block]

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2023
Restructuring and asset related charges - net 1	$	(86)	$	(228)	$	(22)	$	(336)
Estimated settlement expense 2	—		(204)		—		(204)
Inventory write-offs 3	(7)		—		—		(7)
Spare parts write-off 4	—		(12)		—		(12)
Gain (loss) on sale of business, assets and equity investments 3	4		10		—		14
Employee Retention Credit	—		3		—		3
AltEn facility remediation charges	(10)		—		—		(10)
Seed sale associated with Russia Exit 3,5	18		—		—		18
Acquisition-related costs 6	—		(45)		—		(45)
Total	$	(81)	$	(476)	$	(22)	$	(579)

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2022
Restructuring and asset related charges - net 1	$	(228)	$	(37)	$	(98)	$	(363)
Estimated settlement expense 2	—		(87)		—		(87)
Inventory write-offs 3	(33)		—		—		(33)
Gain (loss) on sale of business, assets and equity investments 3	(5)		15		—		10
Settlement costs associated with Russia Exit 3	(8)		—		—		(8)
Employee Retention Credit	6		3		—		9
AltEn facility remediation charges	(33)		—		—		(33)
Seed sale associated with Russia Exit 3,5	3		—		—		3
Total	$	(298)	$	(106)	$	(98)	$	(502)

(In millions)	Seed		Crop Protection		Corporate		Total
For the Year Ended December 31, 2021
Restructuring and asset related charges - net 1	$	(152)	$	(59)	$	(78)	$	(289)
Equity securities mark-to-market gain (loss)	47		—		—		47
Employee Retention Credit	37		23		—		60
Contract termination	(30)		(24)		—		(54)
Total	$	(98)	$	(60)	$	(78)	$	(236)

1.Includes restructuring plans and asset related charges as well as accelerated prepaid amortization expense. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

2.Consists of estimated Lorsban® related charges.

3.Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions.

4.Incremental loss associated with activities related to the Crop Protection Operations Strategy Restructuring Program.

5.Includes a benefit of $18 million and $3 million for the years ended December 31, 2023 and 2022, respectively, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the Company was contractually required to purchase. It consists of $71 million and $8 million of net sales and $53 million and $5 million of cost of goods sold for the years ended December 31, 2023 and 2022, respectively.

6.Relates to acquisition-related costs, including transaction and third-party integration costs associated with the completed acquisitions of Stoller and Symborg as well as the recognition of the inventory fair value step-up. See Note 4 - Business Combinations, to the Consolidated Financial Statements, for additional information.

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EIDP Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Geographic Allocation of Income and Provision for Income Taxes

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations before income taxes
Domestic	$	(414)	$	(1)	$	941
Foreign	1,507		1,427		1,405
Income (loss) from continuing operations before income taxes	$	1,093	$	1,426	$	2,346
Current tax expense (benefit)
Federal	$	143	$	65	$	(13)
State and local	40		21		6
Foreign	407		403		329
Total current tax expense (benefit)	$	590	$	489	$	322
Deferred tax expense (benefit)
Federal	$	(326)	$	(170)	$	164
State and local	(50)		(39)		55
Foreign	(62)		(70)		(17)
Total deferred tax expense (benefit)	$	(438)	$	(279)	$	202
Provision for (benefit from) income taxes on continuing operations	152		210		524
Net income (loss) from continuing operations after taxes	$	941	$	1,216	$	1,822

Reconciliation to US Statutory Rate

Reconciliation to U.S. Statutory Rate	For the Year Ended December 31,
	2023		2022		2021
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Effective tax rates on international operations - net1	(1.8)		(3.5)		(2.5)
Acquisitions, divestitures and ownership restructuring activities2	3.6		(5.4)		(0.1)
U.S. research and development credit	(5.9)		(2.2)		(2.4)
Exchange gains/losses3	2.0		3.7		1.9
State and local incomes taxes - net	0.9		0.3		2.1
Impact of Swiss Tax Changes4	(7.9)		—		0.2
Excess tax benefits/deficiencies from stock compensation	(0.5)		(0.7)		(0.2)
Tax settlements and expiration of statute of limitations	(0.3)		0.1		—
Repatriation of foreign earnings5	2.9		1.7		1.0
Other – net	(0.1)		(0.3)		1.3
Effective tax rate on income from continuing operations	13.9	%	14.7	%	22.3	%

1.    Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

2.     Includes net tax charge of $46 million for the year ended December 31, 2023, associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

3.    Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

4. Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

5. Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

EIDP

Geographic Allocation of Income and Provision for Income Taxes

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations before income taxes
Domestic	$	(434)	$	(46)	$	892
Foreign	1,507		1,427		1,404
Income (loss) from continuing operations before income taxes	$	1,073	$	1,381	$	2,296
Current tax expense (benefit)
Federal	$	138	$	56	$	(23)
State and local	40		19		4
Foreign	407		403		329
Total current tax expense (benefit)	$	585	$	478	$	310
Deferred tax expense (benefit)
Federal	$	(326)	$	(170)	$	164
State and local	(50)		(39)		55
Foreign	(62)		(70)		(17)
Total deferred tax expense (benefit)	$	(438)	$	(279)	$	202
Provision for (benefit from) income taxes on continuing operations	147		199		512
Net income (loss) from continuing operations	$	926	$	1,182	$	1,784

Reconciliation to US Statutory Rate

Reconciliation to U.S. Statutory Rate	For the Year Ended December 31,
	2023		2022		2021
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Effective tax rates on international operations - net1	(1.9)		(3.6)		(2.6)
Acquisitions, divestitures and ownership restructuring activities2	3.6		(5.5)		(0.1)
U.S. research and development credit	(6.0)		(2.3)		(2.5)
Exchange gains/losses3	2.0		3.8		1.9
State and local income taxes - net	0.9		0.2		2.2
Impact of Swiss Tax Changes4	(8.0)		—		0.2
Excess tax benefits/deficiencies from stock compensation	(0.6)		(0.7)		(0.2)
Tax settlements and expiration of statute of limitations	(0.4)		0.1		—
Repatriation of foreign earnings5	2.9		1.7		1.0
Other – net	0.2		(0.3)		1.3
Effective tax rate	13.7	%	14.4	%	22.2	%

1.    Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

2.     Includes a tax charge of $46 million for the year ended December 31, 2023 associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

3.    Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

4. Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

5.     Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

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EIDP Segment FN (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting, Asset Reconciling Item [Line Items]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

Income (loss) from continuing operations after income taxes to segment operating EBITDA	For the Year Ended December 31,
(In millions)	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	941	$	1,216	$	1,822
Provision for (benefit from) income taxes on continuing operations	152		210		524
Income (loss) from continuing operations before income taxes	1,093		1,426		2,346
Depreciation and amortization	1,211		1,223		1,243
Interest income	(283)		(124)		(77)
Interest expense	233		79		30
Exchange (gains) losses - net	397		229		54
Non-operating (benefits) costs - net1	151		(111)		(1,256)
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges	—		—		—
Significant items	579		502		236
Corporate expenses	110		116		138
Segment operating EBITDA	$	3,491	$	3,340	$	2,714

1.The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

Segment assets to total assets (in millions)	December 31, 2023		December 31, 2022
Total segment assets	$	37,736	$	37,049
Corporate assets	5,260		5,569
Total assets	$	42,996	$	42,618

EIDP

Segment Reporting, Asset Reconciling Item [Line Items]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

Income (loss) from continuing operations after income taxes to segment operating EBITDA (In millions)	For the Year Ended December 31,
	2023		2022		2021
Income (loss) from continuing operations after income taxes	$	926	$	1,182	$	1,784
Provision for (benefit from) income taxes on continuing operations	147		199		512
Income (loss) from continuing operations before income taxes	1,073		1,381		2,296
Depreciation and amortization	1,211		1,223		1,243
Interest income	(283)		(124)		(77)
Interest expense	253		124		80
Exchange losses - net	397		229		54
Non-operating (benefits) costs - net1	151		(111)		(1,256)
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges	—		—		—
Significant items	579		502		236
Corporate expenses	110		116		138
Segment operating EBITDA	$	3,491	$	3,340	$	2,714

1.The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

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Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period		$ 194	$ 210	$ 208
Additions charged to expenses		24	3	6
Deductions from reserves	[1]	(13)	(19)	(4)
Balance at end of period		205	194	210
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period		342	366	453
Additions charged to expenses		225	87	97
Purchase Accounting Adjustments		8	0	0
Deductions from reserves	[2]	(65)	(111)	(184)
Balance at end of period		$ 510	$ 342	$ 366

[1] Deductions include write-offs, recoveries collected and currency translation adjustments.

[2] Deductions include currency translation adjustments.

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Background and Basis of Presentation (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares	Feb. 01, 2024 $ / shares	Dec. 31, 2022 $ / shares shares	Jun. 26, 2019 $ / shares	Jun. 03, 2019 $ / shares
Common Stock, Par Value	$ 0.01	$ 0.01	$ 0.01
Common Stock, Shares Authorized | shares	1,666,667,000		1,666,667,000
Percentage of Annual Net Sales [Line Items]	4.00%
Percentage of Segment Operating EBITDA	3.00%
Percentage deterioration of the official Peso to USD exchange rate	10.00%
Foreign Exchange Impact on Income (Loss) from Continuing Operations | $	$ 10
EID [Member]
Common Stock, Par Value	$ 0.30		$ 0.30
Common Stock, Shares Authorized | shares	1,800,000,000		1,800,000,000
EID [Member] | Corteva [Member]
Ownership interest in an entity	100.00%
Corteva [Member]
Number of Reportable Segments	2
Common Stock, Par Value				$ 0.01	$ 0.01

XML

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Restricted Cash	$ 514	$ 427
Percentage of FIFO Inventory	60.00%	55.00%
Percentage of Weighted Average Cost Inventory	40.00%	45.00%
Minimum [Member]
Definite-Lived Intangible Asset, Useful Life	2 years
Maximum [Member]
Definite-Lived Intangible Asset, Useful Life	25 years
Other Current Assets [Member]
Prepaid Royalties	$ 105
Other Assets [Member]
Prepaid Royalties - Long-Term	$ 25

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Business Combinations and Asset Acquisitions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 10,605	$ 9,962	$ 10,107
Stoller
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	1,220
Cash and Cash Equivalents	97
Accounts and Notes Receivables	243
Inventory	81
Other Current Assets	9
Property, Plant, and Equipment	71
Goodwill	383
Other Intangible Assets	645
Deferred Income Tax	10
Other Assets	5
Total Assets Acquired	1,544
Short-term borrowings	59
Accounts Payable	25
Income tax payable	2
Accrued and Other Current Liabilities	65
Long-Term Debt	2
Deferred Income Tax Liabilities	150
Other Noncurrent Liabilities	21
Total Liabilities Assumed	324
Net assets acquired	1,220
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment	31
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings	31
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land	7
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Construction in Progress	2
Symborg
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	370
Cash and Cash Equivalents	0
Accounts and Notes Receivables	17
Inventory	10
Other Current Assets	2
Property, Plant, and Equipment	3
Goodwill	129
Other Intangible Assets	300
Deferred Income Tax	0
Other Assets	1
Total Assets Acquired	462
Short-term borrowings	0
Accounts Payable	13
Income tax payable	0
Accrued and Other Current Liabilities	4
Long-Term Debt	0
Deferred Income Tax Liabilities	74
Other Noncurrent Liabilities	1
Total Liabilities Assumed	92
Net assets acquired	$ 370

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Business Combinations and Asset Acquisitions - Intangible Assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Stoller
Business Acquisition [Line Items]
Finite-Lived Intangibles	$ 645
Finite-Lived Intangible Assets, Weighted Average Useful Life	13 years
Other Intangible Assets	$ 645
Stoller | Customer-Related Intangible Assets [Member]
Business Acquisition [Line Items]
Finite-Lived Intangibles	$ 495
Finite-Lived Intangible Assets, Weighted Average Useful Life	13 years
Stoller | Developed Technology Rights [Member]
Business Acquisition [Line Items]
Finite-Lived Intangibles	$ 106
Finite-Lived Intangible Assets, Weighted Average Useful Life	13 years
Stoller | Trademarks and Trade Names [Member]
Business Acquisition [Line Items]
Finite-Lived Intangibles	$ 44
Finite-Lived Intangible Assets, Weighted Average Useful Life	15 years
Symborg
Business Acquisition [Line Items]
Finite-Lived Intangibles	$ 295
Finite-Lived Intangible Assets, Weighted Average Useful Life	12 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	$ 5
Other Intangible Assets	300
Symborg | Developed Technology Rights [Member]
Business Acquisition [Line Items]
Finite-Lived Intangibles	$ 238
Finite-Lived Intangible Assets, Weighted Average Useful Life	12 years
Symborg | Trademarks and Trade Names [Member]
Business Acquisition [Line Items]
Finite-Lived Intangibles	$ 57
Finite-Lived Intangible Assets, Weighted Average Useful Life	12 years
Symborg | IPR&D [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	$ 5

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Revenue Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation	$ 134	$ 131
Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Expected Timing of Satisfaction	1 year
Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Expected Timing of Satisfaction	6 years

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Revenue Contract Balances (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Accounts and notes receivable - trade	[1]	$ 4,329	$ 4,261
Contract assets - current	[2]	27	26
Contract assets - noncurrent	[3]	67	64
Deferred Revenue		3,406	3,388
Deferred Revenue Recognized During the Period		3,342	3,150	$ 2,613
Other Noncurrent Obligations [Member]
Disaggregation of Revenue [Line Items]
Deferred Revenue	[4]	$ 108	$ 107

[1] Included in accounts and notes receivable - net in the Consolidated Balance Sheets.

[2] Included in other current assets in the Consolidated Balance Sheets.

[3] Included in other assets in the Consolidated Balance Sheets.

[4] Included in other noncurrent obligations in the Consolidated Balance Sheets.

XML

Revenue Disaggregation of Revenue - Products (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net Sales	$ 17,226	$ 17,455	$ 15,655
Seed [Member]
Disaggregation of Revenue [Line Items]
Net Sales	9,472	8,979	8,402
Seed [Member] | Corn [Member]
Disaggregation of Revenue [Line Items]
Net Sales	6,447	5,955	5,618
Seed [Member] | Soybean [Member]
Disaggregation of Revenue [Line Items]
Net Sales	1,858	1,810	1,568
Seed [Member] | Other oilseeds [Member]
Disaggregation of Revenue [Line Items]
Net Sales	708	714	752
Seed [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Net Sales	459	500	464
Crop Protection [Member]
Disaggregation of Revenue [Line Items]
Net Sales	7,754	8,476	7,253
Crop Protection [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Net Sales	1,010	604	398
Crop Protection [Member] | Herbicides [Member]
Disaggregation of Revenue [Line Items]
Net Sales	4,034	4,591	3,815
Crop Protection [Member] | Insecticides [Member]
Disaggregation of Revenue [Line Items]
Net Sales	1,598	1,831	1,730
Crop Protection [Member] | Fungicides [Member]
Disaggregation of Revenue [Line Items]
Net Sales	$ 1,112	$ 1,450	$ 1,310

XML

Revenue Disaggregation of Revenue - Geo (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net Sales		$ 17,226	$ 17,455	$ 15,655
EMEA
Disaggregation of Revenue [Line Items]
Net Sales		3,367	3,256	3,123
Asia Pacific
Disaggregation of Revenue [Line Items]
Net Sales		1,363	1,460	1,451
Latin America
Disaggregation of Revenue [Line Items]
Net Sales	[1]	3,906	4,445	3,545
Seed [Member]
Disaggregation of Revenue [Line Items]
Net Sales		9,472	8,979	8,402
Seed [Member] | North America [Member]
Disaggregation of Revenue [Line Items]
Net Sales	[2]	5,768	5,178	5,004
Seed [Member] | EMEA
Disaggregation of Revenue [Line Items]
Net Sales	[3]	1,622	1,609	1,599
Seed [Member] | Asia Pacific
Disaggregation of Revenue [Line Items]
Net Sales		445	434	379
Seed [Member] | Latin America
Disaggregation of Revenue [Line Items]
Net Sales		1,637	1,758	1,420
Crop Protection [Member]
Disaggregation of Revenue [Line Items]
Net Sales		7,754	8,476	7,253
Crop Protection [Member] | North America [Member]
Disaggregation of Revenue [Line Items]
Net Sales	[2]	2,822	3,116	2,532
Crop Protection [Member] | EMEA
Disaggregation of Revenue [Line Items]
Net Sales	[3]	1,745	1,647	1,524
Crop Protection [Member] | Asia Pacific
Disaggregation of Revenue [Line Items]
Net Sales		918	1,026	1,072
Crop Protection [Member] | Latin America
Disaggregation of Revenue [Line Items]
Net Sales		$ 2,269	$ 2,687	$ 2,125

[1] Net sales for Brazil for the years ended December 31, 2023, 2022 and 2021 were $2,523 million, $3,137 million and $2,315 million, respectively.

[2] Represents U.S. & Canada.

[3] Europe, Middle East, and Africa ("EMEA")

XML

Restructuring and Asset Related Charges - Crop Protection Operations Strategy(Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		$ 336	$ 363	$ 289
Crop Protection Strategy Operations Program [Member]
Restructuring Cost and Reserve [Line Items]
Asset Impairment Charges		152
Restructuring Reserve, Beginning Balance		0
Restructuring and Related Cost, Incurred Cost	[1]	217
Payments for Restructuring		3
Asset write-offs		(214)
Restructuring Reserve, Ending Balance		0	0
Crop Protection Strategy Operations Program [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		410
Anticipated Cash Payments		90
Crop Protection Strategy Operations Program [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		460
Anticipated Cash Payments		120
Crop Protection Strategy Operations Program [Member] | Employee Severance [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		70
Crop Protection Strategy Operations Program [Member] | Employee Severance [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		90
Crop Protection Strategy Operations Program [Member] | Asset Related Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	[2]	0
Restructuring and Related Cost, Incurred Cost	[2],[3]	214
Payments for Restructuring	[2]	0
Asset write-offs	[2]	(214)
Restructuring Reserve, Ending Balance	[2]	0	0
Crop Protection Strategy Operations Program [Member] | Asset Related Charges [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		320
Crop Protection Strategy Operations Program [Member] | Asset Related Charges [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		340
Crop Protection Strategy Operations Program [Member] | Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance		0
Restructuring and Related Cost, Incurred Cost		3
Payments for Restructuring		3
Asset write-offs		0
Restructuring Reserve, Ending Balance		0	$ 0
Crop Protection Strategy Operations Program [Member] | Contract Termination [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		20
Crop Protection Strategy Operations Program [Member] | Contract Termination [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		30
Crop Protection Strategy Operations Program [Member] | Lease Asset
Restructuring Cost and Reserve [Line Items]
Asset Impairment Charges		92
Crop Protection Strategy Operations Program [Member] | Property, Plant and Equipment [Member]
Restructuring Cost and Reserve [Line Items]
Asset Impairment Charges		$ 60

[1] This amount excludes charges relating to spare parts write-offs included in cost of goods sold, in the company’s Consolidated Statement of Operations, as noted above.

[2] Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment, as noted above.

[3] Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment, as noted above.

XML

Restructuring and Asset Related Charges 2022 Restructuring Actions (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		$ 336		$ 363		$ 289
2022 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		373
restructuring payments, inception-to-date		150
Restructuring Reserve, Beginning Balance		83
Restructuring and Related Cost, Incurred Cost	[1]	42		272	[2]
Payments for Restructuring		(56)
Asset write-offs		(11)
Restructuring Reserve, Ending Balance		58		83
2022 Restructuring Actions | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Anticipated Cash Payments		210
2022 Restructuring Actions | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		131
Restructuring Reserve, Beginning Balance		71
Restructuring and Related Cost, Incurred Cost		20		111
Payments for Restructuring		(43)
Asset write-offs		0
Restructuring Reserve, Ending Balance		48		71
2022 Restructuring Actions | Asset Related Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		116
Restructuring Reserve, Beginning Balance		0
Restructuring and Related Cost, Incurred Cost		12		104
Payments for Restructuring		0
Asset write-offs		(11)
Restructuring Reserve, Ending Balance		1		0
2022 Restructuring Actions | Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		67
Restructuring Reserve, Beginning Balance	[3]	12
Restructuring and Related Cost, Incurred Cost		10	[3],[4]	57
Payments for Restructuring	[3]	(13)
Asset write-offs	[3]	0
Restructuring Reserve, Ending Balance	[3]	9		12
2022 Restructuring Actions | Other charges
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		59
2022 Restructuring Actions - Russia Exit
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		53
2022 Restructuring Actions - Russia Exit | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		6
2022 Restructuring Actions - Russia Exit | Asset Related Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		6
2022 Restructuring Actions - Russia Exit | Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		30
2022 Restructuring Actions - Russia Exit | inventory write-offs | Cost of Goods Sold
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		3
2022 Restructuring Actions - Russia Exit | Settlement with Taxing Authority | Other Income
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date		8
Seed [Member] | 2022 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		17		120
Crop Protection [Member] | 2022 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		5		41
Corporate Segment [Member] | 2022 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		$ 20		$ 111

[1] This amount excludes other pre-tax charges recorded during the years ended December 31, 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 company's Consolidated Statement of Operations, respectively. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information.

[2] This amount excludes other pre-tax charges recorded during the year ended December 31, 2023 and 2022 included in cost of goods sold and other income (expense) – net, in the company’s Consolidated Statement of Operations, as noted above.

[3] The liability for contract terminations includes lease obligations. The cash impact of these obligations are substantially complete.

[4] Contract terminations includes early lease terminations.

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Restructuring and Asset Related Charges 2021 Restructuring Actions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ (336)	$ (363)	$ (289)
2021 Restructuring Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	(7)	(7)	(167)
Restructuring and Related Cost, Cost Incurred to Date	167
2021 Restructuring Actions [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	(1)	(5)	(74)
Restructuring and Related Cost, Cost Incurred to Date	70
2021 Restructuring Actions [Member] | Asset Related Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	(6)	0	(51)
Restructuring and Related Cost, Cost Incurred to Date	45
2021 Restructuring Actions [Member] | Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	(2)	(42)
Restructuring and Related Cost, Cost Incurred to Date	40
2021 Restructuring Actions [Member] | Asset Retirement Obligation Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	12
Seed [Member] | 2021 Restructuring Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	(1)	(31)
Crop Protection [Member] | 2021 Restructuring Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	(6)	(1)	(55)
Corporate Segment [Member] | 2021 Restructuring Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ (1)	$ (5)	$ (81)

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Restructuring and Asset Related Charges Asset Impairments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Asset Related [Member]
Restructuring Cost and Reserve [Line Items]
Non-cash accelerated prepaid royalty amortization	$ 72	$ 109	$ 125

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Supplementary Information Other Income (Expense) - Net (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Schedule of Sundry Income (Expense) - Net [Line Items]
Interest income		$ 283	$ 124		$ 77
Equity in earnings (losses) of affiliates - net		10	20		14
Net gain on sales of businesses and other assets	[1]	22	18		21
Net exchange losses	[2]	(397)	(229)		(54)
Non-operating pension and other post employment benefit credit (cost)	[3]	(119)	163		1,318
Miscellaneous income (expenses) - net	[4]	(247)	(156)		(28)
Other income (expense) - net		(448)	(60)		1,348
Estimated Settlement Expense	[5]	204	87
Segment Reconciling Items [Member]
Schedule of Sundry Income (Expense) - Net [Line Items]
Interest income		(283)	(124)		(77)
Net exchange losses		397	229		54
Non-operating pension and other post employment benefit credit (cost)		151	(111)		(1,256)	[6]
Employee Retention Credit		3	9		60
Segment Reconciling Items [Member] | Crop Protection [Member]
Schedule of Sundry Income (Expense) - Net [Line Items]
(Loss) Gain on sale or disposition of assets			15	[7]	19
Employee Retention Credit		3	3		23
Estimated Settlement Expense	[5]	204	87
Contract Termination Cost					(24)
Hedging Program [Member]
Schedule of Sundry Income (Expense) - Net [Line Items]
Net exchange losses		(26)	(12)		18
Hedging Program [Member] | Argentine peso devaluation [Member]
Schedule of Sundry Income (Expense) - Net [Line Items]
Net exchange losses		$ (284)	$ (110)		$ (67)

[1] The years ended December 31, 2022 and 2021 include a gain of $15 million and $19 million, respectively, relating to the sale of a business in the crop protection segment.

[2] Includes net pre-tax exchange gains (losses) of $(284) million, $(110) million and $(67) million associated with the devaluation of the Argentine peso for the years ended December 31, 2023, 2022 and 2021, respectively.

[3] Includes non-service related components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized gain (loss), amortization of prior service benefit and settlement gain (loss)). 

[4] Includes losses from sale of receivables, tax indemnification adjustments related to changes in indemnification balances as a result of the application of the terms of the Tax Matters Agreement between Corteva and Dow and/or DuPont, and other items. The years ended December 31, 2023, 2022, and 2021 also includes an Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”). The years ended December 31, 2023 and 2022 also includes estimated settlement reserves and gains (losses) associated with the sale of businesses, assets and equity investments. The year ended December 31, 2022 also includes legal accruals and settlement cost associated with the Russia Exit. The year ended December 31, 2021 also includes a charge related to a contract termination with a third-party service provider, a gain from the remeasurement of an equity investment and an officer indemnification payment. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information on significant items.

[5] Consists of estimated Lorsban® related charges.

[6] The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

[7] Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions.

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Supplementary Information Foreign Currency Exchange Gain (Loss) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign Currency Exchange Gain (Loss) [Line Items]
Pre-tax exchange (loss) gain	[1]	$ (397)	$ (229)	$ (54)
Tax benefits (expenses) on exchange (loss) gain		62	(5)	(34)
Net after-tax exchange (loss) gain		(335)	(234)	(88)
Subsidiary Monetary Position
Foreign Currency Exchange Gain (Loss) [Line Items]
Pre-tax exchange (loss) gain		(371)	(217)	(72)
Tax benefits (expenses) on exchange (loss) gain		55	(10)	(30)
Net after-tax exchange (loss) gain		(316)	(227)	(102)
Hedging Program [Member]
Foreign Currency Exchange Gain (Loss) [Line Items]
Pre-tax exchange (loss) gain		(26)	(12)	18
Tax benefits (expenses) on exchange (loss) gain		7	5	(4)
Net after-tax exchange (loss) gain		(19)	(7)	14
Argentine peso devaluation [Member] | Hedging Program [Member]
Foreign Currency Exchange Gain (Loss) [Line Items]
Pre-tax exchange (loss) gain		$ (284)	$ (110)	$ (67)

[1] Includes net pre-tax exchange gains (losses) of $(284) million, $(110) million and $(67) million associated with the devaluation of the Argentine peso for the years ended December 31, 2023, 2022 and 2021, respectively.

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Supplementary Information Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021	[1]	Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and Cash Equivalents	$ 2,644		$ 3,191
Restricted Cash	514		427
Cash, Cash Equivalents, and Restricted Cash	3,158		3,618
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$ 3,158	[1]	$ 3,618	[1]	$ 4,836		$ 3,873

[1] See page F-26 for reconciliation of cash and cash equivalents and restricted cash equivalents presented in the Consolidated Balance Sheets to total cash, cash equivalents and restricted cash equivalents presented in the Consolidated Statements of Cash Flows.

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Supplementary Information Supplementary Information (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accrued and other current liabilities	$ 2,351	$ 2,254
Accounts Payable	4,280	4,895
Accounts Payable, Trade, Current	2,952	3,717
Accounts Payable, Other	1,170	1,030
Seed Grower Compensation
Accounts Payable, Trade, Current	$ 560	$ 470

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Income Taxes Income Taxes - Geographic Allocation of Income and Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income (loss) from Continuing Operations before Income Taxes	$ 1,093	$ 1,426	$ 2,346
Provision for (benefit from) income taxes on continuing operations	152	210	524
Income (loss) from continuing operations after income taxes	941	1,216	1,822
Continuing Operations [Member]
Income (loss) from Continuing Operations before Income Taxes, Domestic	(414)	(1)	941
Income (Loss) from Continuing Operations before Income Taxes, Foreign	1,507	1,427	1,405
Income (loss) from Continuing Operations before Income Taxes	1,093	1,426	2,346
Current Federal Tax (Benefit) Expense	143	65	(13)
Current State and Local Tax Expense (Benefit)	40	21	6
Current Foreign Tax Expense (Benefit)	407	403	329
Total current tax expense (benefit)	590	489	322
Deferred Federal Income Tax Expense (Benefit)	(326)	(170)	164
Deferred State and Local Income Tax Expense (Benefit)	(50)	(39)	55
Deferred Foreign Income Tax Expense (Benefit)	(62)	(70)	(17)
Total deferred tax expense (benefit)	(438)	(279)	202
Provision for (benefit from) income taxes on continuing operations	152	210	524
Income (loss) from continuing operations after income taxes	$ 941	$ 1,216	$ 1,822

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Income Taxes Income Taxes - Reconciliation to US Statutory Rate (Details) - Continuing Operations [Member]		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statutory U.S. federal income tax rate		21.00%	21.00%	21.00%
Effective tax rates on international operations - net	[1]	(1.80%)	(3.50%)	(2.50%)
Acquisitions, divestitures, and ownership restructuring activities	[2]	(3.60%)	(5.40%)	(0.10%)
U.S. research and development credit		(5.90%)	(2.20%)	(2.40%)
Exchange gains/losses	[3]	2.00%	3.70%	1.90%
State and Local Income Taxes		0.90%	0.30%	2.10%
Impact of Swiss Tax Changes	[4]	(7.90%)	0.00%	(0.20%)
Excess tax benefits (tax deficiency) from stock-compensation		(0.50%)	(0.70%)	(0.20%)
Tax settlements and expiration of statue of limitations		(0.30%)	0.10%	0.00%
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent	[5]	2.90%	1.70%	1.00%
Other, net		(0.10%)	(0.30%)	(1.30%)
Effective Income Tax Rate		13.90%	14.70%	22.30%

[1] Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

[2] Includes net tax charge of $46 million for the year ended December 31, 2023, associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

[3] Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

[4] Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

[5] Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

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Income Taxes Income Taxes - Deferred Tax Balances (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Assets
Total Operating Loss and Tax Credit Carryforwards	[1]	$ 539	$ 363
Deferred Tax Assets, Accrued Employee Benefits		703	680
Deferred Tax Assets, Other Accruals and Reversals		603	545
Deferred Tax Assets, Inventory		193	198
Deferred Tax Assets, Research and Development Capitalization		607	418
Deferred Tax Assets, Investments		39	40
Unrealized Exchange Gains / Losses		0	0
Deferred Tax Liabilities, Other		0	0
Deferred Tax Assets, Other		55	40
Deferred Tax Assets, Gross		2,739	2,284
Deferred Tax Assets, Valuation Allowance	[2]	(510)	(342)
Deferred Tax Assets, Net of Valuation Allowance		2,229	1,942
Liabilities
Deferred Tax Liabilities, Property		353	447
Deferred Tax Liabilities, Intangible Assets		2,153	2,106
Deferred Tax Liabilities, Unrealized Exchange Gains/Losses		38	29
Deferred Tax Liabilities, Gross		2,544	2,582
Net Deferred Tax Liability		$ (315)	$ (640)

[1] Primarily related to tax loss and credit carryforwards from operations in the United States, Switzerland, and Spain.

[2] During the year ended December 31, 2023, the company adjusted the valuation allowances recorded against the net deferred tax asset position of various legal entities, the largest of which relates to legal entities in Switzerland and Argentina.

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Income Taxes Income Taxes - Operating Loss and Tax Credit Carryforwards (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		$ 406	$ 285
Tax Credit Carryforwards		133	78
Total Operating Loss and Tax Credit Carryforwards	[1]	539	363
Expiring within Five Years [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		103	127
Tax Credit Carryforwards		59	15
Expiring After Five Years Or Having Indefinite Expiration [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		303	158
Tax Credit Carryforwards		$ 74	$ 63

[1] Primarily related to tax loss and credit carryforwards from operations in the United States, Switzerland, and Spain.

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Income Taxes Income Taxes - Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits, Beginning Balance	$ 357	$ 377	$ 395
Decreases related to positions taken on items from prior years	0	(3)	(7)
Increases related to positions taken on items from prior years	23	4	13
Increases related to positions taken in the current year	16	11	9
Settlement of uncertain tax positions with tax authorities	(4)	(24)	(17)
Decreases due to expiration of statutes of limitations	(2)	(5)	(16)
Exchange (gain) loss	0	(3)	0
Unrecognized Tax Benefits, Ending Balance	390	357	377
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate	173	139	157
Total amount of interest and penalties (benefit) recognized in Provision for income taxes on continuing operations	1	1	1
Total accrual for interest and penalties associated with unrecognized tax benefits	11	$ 13	$ 11
Tax, Advance deposits made to foreign taxing authority	90
Undistributed Earnings of Foreign Subsidiaries	$ 4,240

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Earnings Per Share Net Income for Earnings Per Share Calculations - Basic and Diluted (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Income (Loss) from Continuing Operations After Taxes	$ 941	$ 1,216	$ 1,822
Net Income attributable to continuing operations - Noncontrolling Interest	12	11	10
Income (loss) from continuing operations attributable to Corteva common stockholders	929	1,205	1,812
(Loss) income from discontinued operations attributable to Corteva common stockholders	(194)	(58)	(53)
Net (Loss) Income attributable to common stockholders	$ 735	$ 1,147	$ 1,759

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Earnings Per Share of Common Stock EPS Calculation - Basic (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Basic earnings (loss) per share of common stock from continuing operations	$ 1.31	$ 1.67	$ 2.46
Basic earnings (loss) per share of common stock from discontinued operations	(0.27)	(0.08)	(0.07)
Basic earnings (loss) per share of common stock	$ 1.04	$ 1.59	$ 2.39

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Earnings Per Share of Common Stock EPS Calculation - Diluted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Diluted earnings (loss) per share of common stock from continuing operations	$ 1.30	$ 1.66	$ 2.44
Diluted earnings (loss) per share of common stock from discontinued operations	(0.27)	(0.08)	(0.07)
Diluted (loss) earnings per share of common stock	$ 1.03	$ 1.58	$ 2.37

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Earnings Per Share Share Count Information (Details) - shares		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic		709,000,000.0	720,800,000	735,900,000
Dilutive effect of equity compensation plans	[1]	2,900,000	3,700,000	5,700,000
Weighted Average Number of Shares Outstanding, Diluted		711,900,000	724,500,000	741,600,000
Common Stock, Shares Authorized		1,666,667,000	1,666,667,000
Stock options and restricted stock units excluded from EPS	[2]	2,300,000	1,500,000	2,800,000

[1] Diluted earnings (loss) per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.

[2] These outstanding potential shares of common stock relating to stock options, restricted stock units and performance-based restricted stock units were excluded from the calculation of diluted earnings (loss) per share because (i) the effect of including them would have been anti-dilutive; and (ii) the performance metrics have not yet been achieved for the outstanding potential shares relating to performance-based restricted stock units, which are deemed to be contingently issuable.

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Accounts and Notes Receivable, Net (Schedule of Accounts and Notes Receivable, Net) (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable - trade	[1]	$ 4,210	$ 4,168
Notes receivable - trade	[1],[2]	119	93
Other	[3]	1,159	1,440
Total accounts and notes receivable - net		5,488	5,701
A/R trade and notes receivable - trade, allowance		205	194	$ 210
Nonconsolidated Affiliates [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other		$ 131	$ 148

[1] Accounts and notes receivable – trade are net of allowances of $205 million and $194 million at December 31, 2023 and 2022, respectively.

[2] Notes receivable – trade primarily consists of receivables for deferred payment loan programs for the sale of seed and crop protection products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2023 and 2022, there were no significant impairments related to current loan agreements.

[3] Other includes receivables in relation to indemnification assets, value added tax, general sales tax and other taxes. No individual group represents more than 5 percent of total current assets. In addition, Other includes amounts due from nonconsolidated affiliates of $131 million and $148 million as of December 31, 2023 and 2022, respectively.

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Accounts and Notes Receivable Allowance Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 194	$ 210
Net provision for credit losses	11	13
Write-offs charged against allowance/ other	0	3
Accounts Receivable, Allowance for Credit Loss, Current	$ 205	$ 194

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Accounts and Notes Receivable, Net Customer Financing (Details) - Factoring Agreement [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade Receivables Sold Under Factoring Agreements	$ 112	$ 134	$ 272
Trade Receivables Sold That Remained Outstanding	2	37
Loss on Sale of Accounts Receivable	$ 17	$ 19	$ 54

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Inventories Schedule of Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Finished products	$ 3,273	$ 3,260
Semi-finished products	2,775	2,689
Raw materials and supplies	851	862
Total inventories	$ 6,899	$ 6,811

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Property, Plant and Equipment Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	$ 8,956	$ 8,551
Accumulated Depreciation	(4,669)	(4,297)
Property, Plant and Equipment, Net	4,287	4,254	$ 4,329
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	440	416
Building [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	$ 1,671	1,541
Building [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Building [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	25 years
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	$ 6,315	6,077
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	$ 530	$ 517
Computer Software, Intangible Asset [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Computer Software, Intangible Asset [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years

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Property, Plant and Equipment Schedule of Depreciation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 528	$ 521	$ 521

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Goodwill and Other Intangible Assets Goodwill by Segment (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill Beginning Balance		$ 9,962	$ 10,107
Currency Translation Adjustment		131	(135)
Other goodwill adjustments and acquisitions	[1]		(10)
Acquisitions	[2]	512
Goodwill Ending Balance		10,605	9,962
Accumulated impairment losses on goodwill		4,503
Crop Protection [Member]
Goodwill [Line Items]
Goodwill Beginning Balance		4,618	4,672
Currency Translation Adjustment		53	(63)
Other goodwill adjustments and acquisitions	[1]		9
Acquisitions	[2]	512
Goodwill Ending Balance		5,183	4,618
Seed [Member]
Goodwill [Line Items]
Goodwill Beginning Balance		5,344	5,435
Currency Translation Adjustment		78	(72)
Other goodwill adjustments and acquisitions	[1]		(19)
Goodwill Ending Balance		$ 5,422	$ 5,344

[1] Consists primarily of the goodwill included in the sale of a business in the crop protection segment and reallocation of the former digital reporting unit goodwill between the seed and the crop protection segments.

[2] On March 1, 2023, the company completed the acquisitions of Stoller and Symborg, which are included in the crop protection segment. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information

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Goodwill and Other Intangible Assets Other Intangible Assets (Details) - USD ($) $ in Millions		Dec. 31, 2023	[1]	Dec. 31, 2022
Intangible Assets [Line Items]
Definite-Lived Intangible Assets, Gross		$ 13,073		$ 12,092
Accumulated Amortization		(3,452)		(2,763)
Definite-Lived Intangible Assets, Net		9,621		9,329
Indefinite-lived Intangible Assets		5		10
Total Intangible Assets, Gross		13,078		12,102
Total intangible assets - net		9,626		9,339
IPR&D [Member]
Intangible Assets [Line Items]
Indefinite-lived Intangible Assets		5		10
Germplasm [Member]
Intangible Assets [Line Items]
Definite-Lived Intangible Assets, Gross		6,291		6,291
Accumulated Amortization		(1,081)		(826)
Definite-Lived Intangible Assets, Net		5,210		5,465
Customer-Related Intangible Assets [Member]
Intangible Assets [Line Items]
Definite-Lived Intangible Assets, Gross		2,427		1,912
Accumulated Amortization		(734)		(585)
Definite-Lived Intangible Assets, Net		1,693		1,327
Developed Technology [Member]
Intangible Assets [Line Items]
Definite-Lived Intangible Assets, Gross		1,849		1,485
Accumulated Amortization		(1,004)		(830)
Definite-Lived Intangible Assets, Net		845		655
Trademarks and Trade Names [Member]
Intangible Assets [Line Items]
Definite-Lived Intangible Assets, Gross		2,111		2,009
Accumulated Amortization		(339)		(251)
Definite-Lived Intangible Assets, Net		1,772		1,758
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Definite-Lived Intangible Assets, Gross	[2]	395		395
Accumulated Amortization	[2]	(294)		(271)
Definite-Lived Intangible Assets, Net	[2]	$ 101		$ 124

[1] Includes the intangible assets acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023. See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

[2] Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements.

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Goodwill and Other Intangible Assets Amortization Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 683	$ 702	$ 722
2022	683
2023	646
2024	636
2025	576
2026	$ 554

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Leases Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Residual Value Guarantee	$ 207
Minimum [Member]
Remaining Lease Term	1 year
Maximum [Member]
Remaining Lease Term	39 years

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Leases Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Lease, Cost	$ 169	$ 152	$ 158
Finance Lease, Right-of-Use Asset, Amortization	1	1	1
Finance Lease, Cost	1	1	1
Short-term Lease, Cost	23	18	14
Variable Lease, Cost	11	8	8
Total Lease Cost	$ 204	$ 179	$ 181

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Leases Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating cash outflows from operating leases	$ 169	$ 155	$ 169
Financing cash outflows from finance leases	$ 1	$ 1	$ 1

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Leases Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating Lease, Right-of-Use Asset	[1]	$ 412	$ 460
Current operating lease liabilities	[2]	131	119
Noncurrent operating lease liabilities	[3]	355	331
Total operating lease liabilities		486	450
Finance Lease, Right-of-Use Asset, Gross		14	14
Finance Lease, Right-Of-Use Asset, Accumulated Depreciation		$ (13)	$ (11)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Finance Lease, Right-of-Use Asset		$ 1	$ 3
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Short-term borrowings and finance lease obligations	Short-term borrowings and finance lease obligations
Finance Lease, Liability, Current		$ 1	$ 1
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Long-term Debt	Long-term Debt
Finance Lease, Liability, Noncurrent		$ 1	$ 2
Finance Lease, Liability		$ 2	$ 3
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Accrued and other current liabilities	Accrued and other current liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Other Assets	Other Assets
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other noncurrent obligations	Other noncurrent obligations

[1] Included in other assets in the Consolidated Balance Sheet.

[2] Included in accrued and other current liabilities in the Consolidated Balance Sheet.

[3] Included in other noncurrent obligations in the Consolidated Balance Sheet.

XML

Leases Lease Term and Discount Rate (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	6 years 7 months 17 days	7 years 2 months 8 days
Finance Lease, Weighted Average Remaining Lease Term	1 year 4 months 9 days	2 years 4 months 9 days
Operating Lease, Weighted Average Discount Rate, Percent	2.98%	3.14%
Finance Lease, Weighted Average Discount Rate, Percent	3.29%	3.29%

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Leases Maturity of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating Lease, Year One	$ 139
Operating Lease, Year Two	108
Operating Lease, Year Three	87
Operating Lease, Year Four	54
Operating Lease, Year Five	43
Operating Lease, Due After Year Five	99
Operating Lease, Total Payments	530
Operating Lease, Interest	44
Total operating lease liabilities	486	$ 450
Finance Lease, Year One	1
Finance Lease, Year Two	1
Finance Lease, Year Three	0
Finance Lease, Year Four	0
Finance Lease, Year Five	0
Finance Lease, Due After Year Five	0
Finance Lease, Total Payments	2
Finance Lease, Interest	0
Finance Lease, Liability	$ 2	$ 3

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Long-Term Debt and Available Credit Facilities Long Term Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Finance Lease, Liability, Noncurrent	$ 1,000,000	$ 2,000,000
Unamortized debt discount and issuance costs	16,000,000	7,000,000
Long-term debt payable within one year	196,000,000	0
Long-term Debt	2,291,000,000	1,283,000,000
Loans Payable [Member] | Notes Maturing 2025 [Domain]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 500,000,000	$ 500,000,000
Long-term Debt, Weighted Average Interest Rate	1.70%	1.70%
Loans Payable [Member] | Notes Maturing 2026 [Domain]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 600,000,000	$ 0
Long-term Debt, Weighted Average Interest Rate	4.50%
Loans Payable [Member] | Notes Maturing 2030 [Domain]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 500,000,000	$ 500,000,000
Long-term Debt, Weighted Average Interest Rate	2.30%	2.30%
Loans Payable [Member] | Notes Maturing 2033 [Domain]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 600,000,000	$ 0
Long-term Debt, Weighted Average Interest Rate	4.80%
Loans Payable [Member] | Foreign Currency Loans [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 196,000,000	$ 181,000,000
Long-term Debt, Weighted Average Interest Rate	14.80%	14.80%
Medium-term Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 106,000,000	$ 107,000,000
Long-term Debt, Weighted Average Interest Rate	5.34%	4.27%
Notes Maturing 2025 [Domain]
Debt Instrument [Line Items]
Line of Credit Facility, Periodic Payment, Principal	$ 500,000,000
Notes Maturing 2024 [Domain]
Debt Instrument [Line Items]
Line of Credit Facility, Periodic Payment, Principal	196,000,000
Notes Maturing 2026 [Domain]
Debt Instrument [Line Items]
Line of Credit Facility, Periodic Payment, Principal	600,000,000
Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 2,434,000,000	$ 1,172,000,000

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Long-Term Debt and Available Credit Facilities Available Committed Credit Facilities (Narrative) (Details) $ in Millions	13 Months Ended	36 Months Ended	60 Months Ended
	Feb. 26, 2024	May 03, 2025	May 03, 2027	Dec. 31, 2023 USD ($)	Aug. 01, 2023 USD ($)	Jul. 01, 2023 USD ($)	May 01, 2023 USD ($)	Feb. 01, 2023 USD ($)	Jan. 27, 2023 USD ($)	May 03, 2022 USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 5,500
Line of Credit Facility, Remaining Borrowing Capacity				5,500
Foreign Currency Loans [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity				50
Revolving Credit Facilities due 2027
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				3,000						$ 3,000
Line of Credit Facility, Remaining Borrowing Capacity				3,000
Debt Instrument, Term			5 years
Revolving Credit Facilities due 2025
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				2,000						$ 2,000
Line of Credit Facility, Remaining Borrowing Capacity				2,000
Debt Instrument, Term		3 years
364-day Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				500
Line of Credit Facility, Remaining Borrowing Capacity				$ 500
Debt Instrument, Term	364 days
Ratio of Indebtedness to Net Capital				0.60
364-day Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.10%
364-day Revolving Credit Facilities due 2024
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity					$ 500	$ 1,000	$ 1,000	$ 1,000	$ 1,000
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.10%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Ratio of Indebtedness to Net Capital				0.60

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Long-Term Debt and Available Credit Facilities Uncommitted Credit Facilities and Outstanding Letters of Credit (Details) $ in Millions	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Line Of Credit Facility, Remaining Borrowing Capacity, Uncommitted Amount	$ 523
Letters of Credit Outstanding, Amount	$ 143

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Short-Term Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Long-term debt payable within one year	$ 196	$ 0
Finance Lease, Liability, Current	1	1
Short-term borrowings and finance lease obligations	198	24
Other loans - various currencies
Short-term Debt [Line Items]
Short-term borrowings and finance lease obligations	$ 1	$ 23

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Commitments and Contingent Liabilities Guarantee Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Guarantor Obligations [Line Items]
Guarantee Obligations	$ 84	$ 88
Less than one year
Guarantor Obligations [Line Items]
Guarantee Obligations	15
Agreements with lenders to provide financing for select customers [Member]
Guarantor Obligations [Line Items]
Accounts Receivable, after Allowance for Credit Loss	187	202
Factoring Agreement [Member]
Guarantor Obligations [Line Items]
Guarantee Obligations	$ 2	$ 16

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Commitments and Contingent Liabilities- Supplier Finance (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Supplier Finance Program, Obligation, Current	$ 115	$ 220
Loss Contingencies [Line Items]
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable

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Commitments and Contingent Liabilities Litigation - Chemours (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2031 USD ($)	Dec. 31, 2028 USD ($)	Sep. 30, 2025 USD ($)	Jan. 28, 2022 USD ($)	Dec. 31, 2018 lawsuits
Loss Contingencies [Line Items]
Threshold to waive MOU escrow account funding obligation	$ 100,000,000
PFOA Matters: Multi-District Litigation [Member]
Loss Contingencies [Line Items]
Lawsuits alleging personal injury filed | lawsuits						3,550
Non-PFAS
Loss Contingencies [Line Items]
Request for Remediation Funding Source ("RFS")					$ 900,000,000
Corteva [Member]
Loss Contingencies [Line Items]
Stray liability sharing percentage	29.00%
DuPont de Nemours [Member]
Loss Contingencies [Line Items]
Amount credited to each company's threshold	$ 150,000,000
Stray liability sharing percentage	71.00%
PFAS [Member]
Loss Contingencies [Line Items]
Withdrawal Amount after Year 6	$ 200,000,000
MOU Terms for Withdrawals	125,000,000
PFAS [Member] | Forecast [Member]
Loss Contingencies [Line Items]
Escrow Account Balance			$ 700,000,000
PFAS [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Qualified Spend and Escrow Account Contribution Threshold	$ 4,000,000,000
Cost Sharing Arrangement Term	20 years
Corteva and Dupont stray liability threshold for PFAS	$ 300,000,000
PFAS [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Corteva and Dupont stray liability threshold for PFAS	1
PFAS [Member] | Corteva [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Qualified Spend and Escrow Account Contribution Threshold	$ 600,000,000
PFAS [Member] | Chemours [Member]
Loss Contingencies [Line Items]
MOU Escrow Account Deposit				$ 100,000,000
Escrow Account Deposit Percentage	50.00%
PFAS [Member] | Chemours [Member] | Forecast [Member]
Loss Contingencies [Line Items]
Annual escrow deposit, remainder of period		$ 50,000,000
PFAS [Member] | Chemours [Member] | Maximum [Member] | Forecast [Member]
Loss Contingencies [Line Items]
Total Escrow Deposit Amount		500,000,000
PFAS [Member] | DuPont de Nemours [Member] | Corteva [Member]
Loss Contingencies [Line Items]
Escrow Account Deposit Percentage	50.00%
PFAS [Member] | DuPont de Nemours and Corteva [Member]
Loss Contingencies [Line Items]
MOU Escrow Account Deposit				$ 100,000,000
Corteva and DuPont stray liability sharing percentage for PFAS	50.00%
PFAS [Member] | DuPont de Nemours and Corteva [Member] | Forecast [Member]
Loss Contingencies [Line Items]
Annual escrow deposit, remainder of period		50,000,000
PFAS [Member] | DuPont de Nemours and Corteva [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Qualified Spend and Escrow Account Contribution Threshold	$ 2,000,000,000
PFAS [Member] | DuPont de Nemours and Corteva [Member] | Corteva [Member] | Maximum [Member] | Forecast [Member]
Loss Contingencies [Line Items]
Total Escrow Deposit Amount		$ 500,000,000

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Commitments and Contingent Liabilities Litigation - Corteva Separation (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounts and Notes Receivable [Member]
Loss Contingencies [Line Items]
Indemnification Assets	$ 44,000,000	$ 31,000,000
Other Assets [Member]
Loss Contingencies [Line Items]
Indemnification Assets	104,000,000	105,000,000
Accrued and Other Current Liabilities [Member]
Loss Contingencies [Line Items]
Indemnified Liabilities	30,000,000	31,000,000
Other Noncurrent Obligations [Member]
Loss Contingencies [Line Items]
Indemnified Liabilities	106,000,000	$ 115,000,000
PFAS [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Corteva and Dupont stray liability threshold for PFAS	1
PFAS [Member] | Minimum [Member] | Once $300 million threshold is met [Member]
Loss Contingencies [Line Items]
De minimis threshold	1,000,000
PFAS [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Corteva and Dupont stray liability threshold for PFAS	300,000,000
DuPont de Nemours [Member]
Loss Contingencies [Line Items]
Stray liability threshold	$ 200,000,000
Stray liability sharing percentage	71.00%
Amount credited to each company's threshold	$ 150,000,000
DuPont de Nemours and Corteva [Member] | PFAS [Member]
Loss Contingencies [Line Items]
Corteva and DuPont stray liability sharing percentage for PFAS	50.00%
Corteva [Member]
Loss Contingencies [Line Items]
Stray liability sharing percentage	29.00%

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Commitments and Contingent Liabilities- DISCOPS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Income (loss) from discontinued operations after income taxes	$ (194)	$ (58)	$ (53)
Other Discontinued or Divested Business Obligations
Loss Contingencies [Line Items]
Income (loss) from discontinued operations after income taxes		13
PFAS [Member]
Loss Contingencies [Line Items]
Income (loss) from discontinued operations after income taxes	$ 175	$ 36

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Commitments and Contingent Liabilities Litigation - Leach and MDL Settlement (Details)	3 Months Ended	12 Months Ended		108 Months Ended
	Jun. 30, 2017 USD ($)	Dec. 31, 2023 USD ($) lawsuits	Dec. 31, 2004 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2018 lawsuits	Jan. 01, 2012
PFOA Matters: Drinking Water Actions [Member]
Loss Contingencies [Line Items]
Binding Settlement Agreement Class Size			80,000
Loss Contingency, Number Of Water Districts Receiving Water Treatment						6
Litigation Settlement, Liability For Medical Monitoring Program, Threshold			$ 235,000,000
Litigation Settlement, Medical Monitoring Program, Escrow Account, Disbursements To Date				$ 2,000,000
Escrow Balance		$ 1,000,000
PFOA Matters: Multi-District Litigation [Member]
Loss Contingencies [Line Items]
Disease Categories for MDL		6
Lawsuits alleging personal injury filed | lawsuits					3,550
Litigation Settlement Amount	$ 670,000,000
Post-MDL Settlement PFOA Personal Injury Claims [Domain] | Compensatory Damages [Member]
Loss Contingencies [Line Items]
Litigation Settlement Amount		$ 40,000,000
Post-MDL Settlement PFOA Personal Injury Claims [Domain] | Compensatory Damages [Member] | EIDP
Loss Contingencies [Line Items]
Litigation Settlement Amount		6,000,000
Post-MDL Settlement PFOA Personal Injury Claims [Domain] | Loss of Consortium [Member]
Loss Contingencies [Line Items]
Litigation Settlement Amount		10,000,000
Post-MDL Settlement PFOA Personal Injury Claims [Domain] | Loss of Consortium [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Litigation Settlement Amount		250,000
MDL Settlement [Member]
Loss Contingencies [Line Items]
Litigation Settlement Amount		83,000,000
MDL Settlement [Member] | Corteva [Member]
Loss Contingencies [Line Items]
Payments for Legal Settlements		$ 27,000,000
MDL Settlement [Member] | PFOA Matters: Drinking Water Actions [Member] | Settled Litigation [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number | lawsuits		95
OHIO | Natural Resources Damages [Member]
Loss Contingencies [Line Items]
Litigation Settlement Amount		$ 110,000,000
Loss Contingency, Pending Claims, Number | lawsuits		2
Chemours [Member] | MDL Settlement [Member]
Loss Contingencies [Line Items]
Litigation Settlement Amount		$ 29,000,000
DuPont de Nemours and Corteva [Member] | MDL Settlement [Member]
Loss Contingencies [Line Items]
Litigation Settlement Amount		$ 27,000,000

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Commitments and Contingent Liabilities Litigation - Other PFOA Matters / Fayatteville (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) lawsuits	Dec. 31, 2022 lawsuits
Nationwide Water District Settlement
Loss Contingencies [Line Items]
Corteva and DuPont stray liability sharing percentage for PFAS	50.00%
Number of water district opt-outs	1,000
Water Districts remaining in Settlement Class	93.00%
Estimated Litigation Liability	$ 1,185
Firefighting Foam [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number | lawsuits	6,200
Firefighting Foam [Member] | Personal injury cases [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number	4,800
Firefighting Foam [Member] | Nationwide Water District Settlement
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number | lawsuits	700
NORTH CAROLINA | PFOA Matters: Drinking Water Actions [Member]
Loss Contingencies [Line Items]
Loss Contingency, Number of Property Owners	100
NEW YORK | PFOA Matters: Drinking Water Actions [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number	45
NEW JERSEY | Natural Resources Damages [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number	4
NEW JERSEY | PFAS [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number	2
OHIO | Natural Resources Damages [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number | lawsuits	2
Estimated Litigation Liability	$ 16
Litigation Settlement Amount	110
DELAWARE | Natural Resources Damages [Member]
Loss Contingencies [Line Items]
Collective Threshold for Payments to Fund the NRST Trust	50
Supplemental Payment Threshold	25
Loss Contingency Accrual, Payments	$ 4
NEW JERSEY AND NEW YORK | PFAS [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number | lawsuits	2
NETHERLANDS | PFOA Matters: Drinking Water Actions [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number | lawsuits		4

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Commitments and Contingent Liabilities Environmental (Details) - USD ($) $ in Millions		Dec. 31, 2023	Jan. 28, 2022
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	[1],[2]	$ 501
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual	[1]	654
Indemnification Asset		279
Non-PFAS
Loss Contingencies [Line Items]
Request for Remediation Funding Source ("RFS")			$ 900
DuPont de Nemours [Member]
Loss Contingencies [Line Items]
Stray liability threshold		200
Indemnification liabilities related to the MOU
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	[1],[2]	117
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual	[1]	29
Indemnification Asset		26
Chemours related obligation subject to indemnification [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	[1],[2],[3],[4]	150
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual	[1],[3],[4]	286
Indemnification Asset	[3],[4]	150
Discontinued Operations [Member]
Loss Contingencies [Line Items]
Indemnification Asset	[3]	44
Environmental remediation liabilities primarily related to DuPont - subject to indemnity from DuPont [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	[1],[2],[4]	63
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual	[1],[4]	63
Indemnification Asset	[4]	59
Not subject to indemnification [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual	[1]	78
Indemnification Asset		0
Accrual for Environmental Loss Contingencies, Gross	[1]	106
Other Discontinued or Divested Business Obligations
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	[1],[2],[3]	65
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual	[1],[3]	198
DuPont de Nemours [Member] | DuPont de Nemours [Member]
Loss Contingencies [Line Items]
Stray liability threshold		200
Superfund Sites [Member] | Chemours [Member] | Indemnification Agreement [Member]
Loss Contingencies [Line Items]
Indemnification Asset		$ 31

[1] Accrual balance represents management’s best estimate of the costs of remediation and restoration, although it is reasonably possible that the potential exposure, as indicated, could range above the amounts accrued, as there are inherent uncertainties in these estimates. Accrual balance includes $55 million for remediation of Superfund sites. Amounts do not include possible impacts from the remediation elements of the EPAs October 2021 PFAS Strategic Roadmap (as applicable), except as disclosed on page F-44 relating to Chemours' remediation activities at the Fayetteville Works Facility pursuant to the Consent Order with the North Carolina Department of Environmental Quality ("NC DEQ").

[2] Represents liabilities that are subject to the $150 million threshold and sharing agreements as discussed on page F-38, under the header "Chemours / Performance Chemicals."

[3] Represents liabilities that are subject to the $200 million threshold and sharing arrangements as discussed on page F-39, under the header "Corteva Separation Agreement."

[4] The company has recorded an indemnification asset related to these accruals, including $31 million related to the Superfund sites.

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Stockholders' Equity Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended			16 Months Ended	36 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2021	Feb. 01, 2024	Sep. 13, 2022	Aug. 05, 2021	Jun. 26, 2019	Jun. 03, 2019
Equity, Class of Treasury Stock [Line Items]
Common Stock, Shares Authorized	1,666,667,000	1,666,667,000		1,666,667,000
Common Stock, Par Value	$ 0.01	$ 0.01		$ 0.01		$ 0.01
Common Stock, Shares, Outstanding, Beginning Balance	713,419,000	726,527,000	743,458,000
Stock Issued During Period, Shares, New Issues	1,965,000	4,317,000	4,019,000
Stock Repurchased and Retired During Period, Shares	14,124,000	17,425,000	20,950,000
Common Stock, Shares, Outstanding, Ending Balance	701,260,000	713,419,000	726,527,000	701,260,000	726,527,000
Payments for Repurchase of Common Stock	$ 756	$ 1,000	$ 950
2022 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased and Retired During Period, Shares				10,026,000
Stock Repurchase Program, Authorized Amount							$ 2,000
Payments for Repurchase of Common Stock				$ 500
2021 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased and Retired During Period, Shares	4,098,000	17,425,000	5,572,000
Stock Repurchase Program, Authorized Amount								$ 1,500
Payments for Repurchase of Common Stock	$ 250	$ 1,000	$ 250
2019 share repurchase plan
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased and Retired During Period, Shares					24,705,000
Stock Repurchase Program, Authorized Amount									$ 1,000
Corteva [Member]
Equity, Class of Treasury Stock [Line Items]
Common Stock, Par Value									$ 0.01	$ 0.01

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Stockholders' Equity Noncontrolling Interest (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Net Deferred Tax Liability	$ 315,000,000	$ 640,000,000
$4.50 Series Preferred Stock [Member] | EID [Member]
Noncontrolling Interest [Line Items]
Preferred Stock, Shares Authorized	23,000,000	23,000,000
Preferred Stock, Shares Issued	1,673,000	1,673,000
Preferred Stock, Redemption Amount	$ 120	$ 120
$3.50 Series Preferred Stock [Member] | EID [Member]
Noncontrolling Interest [Line Items]
Preferred Stock, Shares Authorized	23,000,000	23,000,000
Preferred Stock, Shares Issued	700,000	700,000
Preferred Stock, Redemption Amount	$ 102	$ 102
Corteva [Member] | EID [Member]
Noncontrolling Interest [Line Items]
Ownership interest in an entity	100.00%

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Stockholders' Equity Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		$ 25,541	$ 25,623	$ 25,063
Net other comprehensive income (loss)		129	92	(8)
Ending Balance		25,279	25,541	25,623
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(2,883)	(2,543)	(1,970)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	[1]	425	(340)	(573)
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax		0	0	0
Net other comprehensive income (loss)		425	(340)	(573)
Ending Balance		(2,458)	(2,883)	(2,543)
Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		80	72	(67)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		(123)	63	143
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax		(12)	(55)	(4)
Net other comprehensive income (loss)		(135)	8	139
Ending Balance		(55)	80	72
Unrealized gain (loss) on investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		0	0	(10)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		0	0	3
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax		0	0	7
Net other comprehensive income (loss)		0	0	10
Ending Balance		0	0	0
Accumulated Other Comp Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(2,806)	(2,898)	(2,890)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		152	126	594
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax		(23)	(34)	(602)
Net other comprehensive income (loss)		129	92	(8)
Ending Balance		(2,677)	(2,806)	(2,898)
Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(163)	(396)	(1,433)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		(188)	213	996
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax		(2)	20	41
Net other comprehensive income (loss)		(190)	233	1,037
Ending Balance		(353)	(163)	(396)
Other Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		160	(31)	590
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		38	190	25
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax		(9)	1	(646)
Net other comprehensive income (loss)		29	191	(621)
Ending Balance		$ 189	$ 160	$ (31)

[1] The cumulative translation adjustment losses for the year ended December 31, 2022 was primarily driven by the strengthening of the U.S. Dollar (“USD”) against the European Euro ("EUR"), Indian Rupee (“INR”), South African Rand (“ZAR”) and Philippine Peso (“PHP”). The cumulative translation adjustment losses for the year ended December 31, 2021 was primarily driven by the strengthening of the U.S. Dollar ("USD") against the European Euro ("EUR"), Swiss franc ("CHF") and Turkish Lira (“TRY”).

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Stockholders' Equity Tax Benefit (Expense) on Net Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	$ 101	$ (121)	$ (172)
Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	60	(68)	(319)
Other Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	(9)	(56)	188
Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	$ 50	$ 3	$ (41)

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Stockholders' Equity Reclassifications out of AOCI (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income Tax Expense (Benefit)		$ 152	$ 210	$ 524
Income (loss) from continuing operations after income taxes		941	1,216	1,822
Derivative Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income Tax Expense (Benefit)	[1]	(4)	8	9
Income (loss) from continuing operations after income taxes		(12)	(55)	(4)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[2]	(8)	(63)	(13)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(12)	(55)	(4)
Unrealized gain (loss) on investments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) from continuing operations after income taxes		0	0	7
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[3]	0	0	7
Reclassification from AOCI, Current Period, Tax	[1]	0	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		0	0	7
AOCI Attributable to Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(23)	(34)	(602)
Pension Plan
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(2)	20	41
Pension Plan | Prior Service Benefit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[3],[4]	(3)	(3)	(2)
Pension Plan | Actuarial Losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[3],[4]	0	3	55
Pension Plan | Accumulated Defined Benefit Plans Adjustment, Settlement Gain (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[3],[4]	0	25	1
Pension Plan | Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		(3)	25	54
Reclassification from AOCI, Current Period, Tax	[1]	1	(5)	(13)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(2)	20	41
Other Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(9)	1	(646)
Other Benefit Plans | Prior Service Benefit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[3],[4]	(2)	(1)	(922)
Other Benefit Plans | Actuarial Losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[3],[4]	(10)	2	81
Other Benefit Plans | Curtailment (loss) gain
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		0	0	(1)
Other Benefit Plans | Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		(12)	1	(842)
Reclassification from AOCI, Current Period, Tax	[1]	3	0	196
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		$ (9)	$ 1	$ (646)

[1] Reflected in provision for (benefit from) income taxes from continuing operations in the Consolidated Statements of Operations.

[2] Reflected in cost of goods sold in the Consolidated Statements of Operations.

[3] Reflected in other income (expense) - net in the Consolidated Statements of Operations.

[4] These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit (credit) cost of the company's pension and other benefit plans. See Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

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Pension Plans and Other Post Employment Benefit Plans Additional Information (Details) - USD ($) $ in Millions	8 Months Ended	12 Months Ended
	Aug. 31, 2022	Dec. 31, 2023		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2024
Defined Benefit and Contribution Disclosures [Line Items]
Pre-tax cash requirements to cover actual net claims costs and related administrative expenses		$ 97		$ 122	$ 198
Trust Asset		$ 514		427
U.S. Retirement Savings Plan [Member]
Defined Benefit and Contribution Disclosures [Line Items]
Employer Matching Contribution, Percent of Match		100.00%
Employer Matching Contribution, Percent of Employees' Gross Pay		6.00%
Employer Discretionary Contribution Percent		3.00%
Defined Contribution Plan, Employer Contribution		$ 101		97	63
Employers Discretionary Contribution, Vesting Period		3 years
Trust Agreement [Member]
Defined Benefit and Contribution Disclosures [Line Items]
Trust Asset		$ 214		251
Corteva Other Contribution Plans [Member]
Defined Benefit and Contribution Disclosures [Line Items]
Defined Contribution Plan, Employer Contribution		45		36	$ 29
Pension Plan
Defined Benefit and Contribution Disclosures [Line Items]
Defined Benefit Plan, Unfunded Status of Plan		(1,685)		(1,398)
Employer contributions		$ 52		$ 60
Expected long-term rate of return on plan assets		4.55%		4.51%	5.73%
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021		$ 1,214
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Assets Transferred to (from) Plan		257	[1]	$ 1,100
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement		0		(25)	$ (1)
Actuarial (gain) loss	$ 110	311		3,759
Other Post Employment Benefits Plan
Defined Benefit and Contribution Disclosures [Line Items]
Defined Benefit Plan, Unfunded Status of Plan		(925)		(1,021)
Employer contributions		97		122
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021		106
Defined Benefit Plan, Accumulated Benefit Obligation, Increase (Decrease) for Plan Amendment		939
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement		0		0	0
Actuarial (gain) loss		(49)		246
Other Post Employment Benefits Plan | Forecast [Member]
Defined Benefit and Contribution Disclosures [Line Items]
Expected Future Employer Contributions, Next Fiscal Year						$ 115
Other Pension Plan [Member]
Defined Benefit and Contribution Disclosures [Line Items]
Employer contributions		52		60	$ 49
Other Pension Plan [Member] | Forecast [Member]
Defined Benefit and Contribution Disclosures [Line Items]
Expected Future Employer Contributions, Next Fiscal Year						$ 50
Nonqualified Plan [Member] | Trust Agreement [Member]
Defined Benefit and Contribution Disclosures [Line Items]
Trust Asset Distribution		$ 58		$ 47

[1] elates to transfers of certain benefit obligations and related assets associated with the principal U.S. pension plan to an insurance company through the purchase of nonparticipating group annuity contracts.

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Pension Plans and Other Post Employment Benefit Plans Weighted Average Assumptions used to Determine Benefit Obligations - Pension (Details) - Pension Plan		Dec. 31, 2023	Dec. 31, 2022	Aug. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Discount Rate		4.97%	5.17%	4.60%	2.82%
Rate of increase in future compensation levels	[1]	2.87%	2.83%

[1] The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

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Pension Plans and Other Post Employment Benefit Plans Weighted Average Assumptions used to Determine Net Periodic Benefit Cost - Pension (Details) - Pension Plan		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit, Discount Rate		5.17%	3.33%	2.44%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase	[1]	2.83%	2.55%	2.54%
Expected long-term rate of return on plan assets		4.55%	4.51%	5.73%

[1] The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

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Pension Plans and Other Post Employment Benefit Plans Weighted Average Assumptions used to Determine Benefit Obligations and Periodic Benefit Cost - OPEB (Details) - Other Post Employment Benefits Plan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount Rate	4.92%	5.09%
Net Periodic Benefit, Discount Rate	5.09%	2.59%	2.09%

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Pension Plans and Other Post Employment Benefit Plans Change in Projected Benefit Obligations, Plan Assets and Funded Status (Details) - USD ($) $ in Millions		8 Months Ended	12 Months Ended
		Aug. 31, 2022	Dec. 31, 2023		Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Accumulated Benefit Obligation			$ 13,400		$ 14,000
Trust Agreement [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit obligation at beginning of the period			182
Benefit obligation at end of the period			155		182
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit obligation at beginning of the period		$ 19,775	13,982		19,775
Service Cost			18		20	$ 25
Interest Cost			690		505	364
Plan participants' contributions			1		1
Actuarial (gain) loss		(110)	(311)		(3,759)
Benefits Paid			(1,304)		(1,460)
Net effects of acquisitions / divestitures / other	[1]		257		(1,080)
Effect of foreign exchange rates			1		(20)
Benefit obligation at end of the period			13,440		13,982	19,775
Fair value of plan assets at beginning of period		17,827	12,584		17,827
Actual return on plan assets			(661)		(2,765)
Employer contributions			52		60
Plan participants' contributions			1		1
Benefits paid			(1,304)		(1,460)
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Assets Transferred to (from) Plan			257	[1]	1,100
Net effects of acquisitions / divestitures / other	[1]				(1,080)
Effect of foreign exchange rates			18		1
Fair value of plan assets at end of period			11,755		12,584	17,827
Funded (unfunded) status of plan			(1,685)		(1,398)
Pension Plan | U.S. Plans with Plan Assets [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded (unfunded) status of plan			(1,336)		(1,050)
Pension Plan | Non-U.S. plans with plan assets [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded (unfunded) status of plan			(43)		(30)
Pension Plan | All other plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded (unfunded) status of plan	[2],[3]		(306)		(318)
Other Post Employment Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit obligation at beginning of the period		1,362	1,021		1,362
Service Cost			1		1	1
Interest Cost			49		26	21
Plan participants' contributions			20		20
Actuarial (gain) loss			49		(246)
Benefits Paid			(117)		(142)
Net effects of acquisitions / divestitures / other			0		0
Effect of foreign exchange rates			0		0
Benefit obligation at end of the period			925		1,021	1,362
Fair value of plan assets at beginning of period		$ 0	0		0
Actual return on plan assets			0		0
Employer contributions			97		122
Plan participants' contributions			20		20
Benefits paid			(117)		(142)
Net effects of acquisitions / divestitures / other			0		0
Effect of foreign exchange rates			0		0
Fair value of plan assets at end of period			0		0	0
Funded (unfunded) status of plan			(925)		(1,021)
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), after Tax			0		0	$ (1)
Other Post Employment Benefits Plan | U.S. Plans with Plan Assets [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded (unfunded) status of plan			0		0
Other Post Employment Benefits Plan | Non-U.S. plans with plan assets [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded (unfunded) status of plan			0		0
Other Post Employment Benefits Plan | All other plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded (unfunded) status of plan	[2],[3]		$ (925)		$ (1,021)

[1] elates to transfers of certain benefit obligations and related assets associated with the principal U.S. pension plan to an insurance company through the purchase of nonparticipating group annuity contracts.

[2] As of December 31, 2023 and 2022, $155 million and $182 million, respectively, of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below.

[3] Includes pension plans maintained around the world where funding is not customary.

XML

Pension Plans and Other Post Employment Benefit Plans Amounts Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Accumulated Benefit Obligation	$ 13,400	$ 14,000
Noncurrent liabilities	(2,467)	(2,255)
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net amount recognized	(1,685)	(1,398)
Net loss (gain)	(487)	(238)
Prior service (benefit) cost	22	23
Pretax balance in accumulated other comprehensive (income) loss at end of year	(465)	(215)
Other Post Employment Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net amount recognized	(925)	(1,021)
Net loss (gain)	238	198
Prior service (benefit) cost	14	16
Pretax balance in accumulated other comprehensive (income) loss at end of year	252	214
Other Assets [Member] | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Other Assets	2	3
Other Assets [Member] | Other Post Employment Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Other Assets	0	0
Accrued and Other Current Liabilities [Member] | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Current liabilities	(31)	(35)
Accrued and Other Current Liabilities [Member] | Other Post Employment Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Current liabilities	(114)	(132)
Pension and other post employment benefits - noncurrent [Member] | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Noncurrent liabilities	(1,656)	(1,366)
Pension and other post employment benefits - noncurrent [Member] | Other Post Employment Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Noncurrent liabilities	$ (811)	$ (889)

XML

Pension Plans and Other Post Employment Benefit Plans Pension Plans with Projected Benefit Obligations in Excess of Plan Assets (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Projected benefit obligations	$ 13,262	$ 13,832
Fair Value of plan assets	$ 11,575	$ 12,430

XML

Pension Plans and Other Post Employment Benefit Plans Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated benefit obligations	$ 13,155	$ 13,676
Fair value of plan assets	$ 11,488	$ 12,290

XML

Pension Plans and Other Post Employment Benefit Plans Components of net periodic benefit cost (credit) and amounts recognized in other comprehensive loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	$ 18	$ 20	$ 25
Interest Cost	690	505	364
Expected return on plan assets	(605)	(720)	(915)
Amortization of unrecognized loss (gain)	0	3	55
Amortization of prior service benefit	(3)	(3)	(2)
Curtailment gain	0	0	0
Settlement loss	0	25	1
Net periodic benefit cost (credit)	100	(170)	(472)
Net loss (gain)	(255)	274	1,284
Amortization of unrecognized (loss) gain	0	3	55
Prior service cost (benefit)	0	0	15
Amortization of prior service benefit	(3)	(3)	(2)
Settlement loss	0	25	1
Effect of foreign exchange rates	8	2	3
Total (benefit) loss recognized in other comprehensive loss, attributable to Corteva	(250)	301	1,356
Total recognized in net periodic benefit cost and other comprehensive (income) loss	(350)	471	1,828
Other Post Employment Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	1	1	1
Interest Cost	49	26	21
Expected return on plan assets	0	0	0
Amortization of unrecognized loss (gain)	(10)	2	81
Amortization of prior service benefit	(2)	(1)	(922)
Curtailment gain	0	0	(1)
Settlement loss	0	0	0
Net periodic benefit cost (credit)	38	28	(820)
Net loss (gain)	49	246	33
Amortization of unrecognized (loss) gain	(10)	2	81
Prior service cost (benefit)	0	0	0
Amortization of prior service benefit	(2)	(1)	(922)
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), after Tax	0	0	(1)
Settlement loss	0	0	0
Effect of foreign exchange rates	1	0	0
Total (benefit) loss recognized in other comprehensive loss, attributable to Corteva	38	247	(809)
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$ 0	$ 219	$ 11

XML

Pension Plans and Other Post Employment Benefit Plans Estimated Future Benefit Payments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2020	$ 1,251
2021	1,214
2022	1,182
2023	1,149
2024	1,112
2025-2029	4,994
Total	10,902
Other Post Employment Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2020	113
2021	106
2022	99
2023	93
2024	86
2025-2029	344
Total	$ 841

XML

Pension Plans and Other Post Employment Benefit Plans Target Allocation for Plan Assets (Details)	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for plan assets	100.00%	100.00%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for plan assets	64.00%	64.00%
Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for plan assets	2.00%	3.00%
Private Market Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for plan assets	11.00%	11.00%
Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for plan assets	7.00%	6.00%
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for plan assets	2.00%	1.00%
UNITED STATES | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for plan assets	9.00%	8.00%
Non-US [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for plan assets	5.00%	7.00%

XML

Pension Plans and Other Post Employment Benefit Plans Basis of Fair Value Measurement (Details) - USD ($) $ in Millions		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 11,755		$ 12,584		$ 17,827
Fair Value of Plan Assets, Excluding Trust Receivables and payables and assets measured at NAV		8,961
Pension Plan | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		2,693		3,349
Pension Plan | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		6,147		6,190
Pension Plan | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		121		204		110
Pension Plan | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				3,085
Pension Plan | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				9,743
Pension Plan | Defined Benefit Plan, Cash
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,148
Pension Plan | Defined Benefit Plan, Cash | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,148		1,348
Pension Plan | Defined Benefit Plan, Cash | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Defined Benefit Plan, Cash | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Defined Benefit Plan, Cash | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				1,348
Pension Plan | Defined Benefit Plan, Equity Securities, US
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	1,108
Pension Plan | Defined Benefit Plan, Equity Securities, US | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,106	[1]	1,195	[2]
Pension Plan | Defined Benefit Plan, Equity Securities, US | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1	[1]	2	[2]
Pension Plan | Defined Benefit Plan, Equity Securities, US | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1	[1]	3	[2]	4
Pension Plan | Defined Benefit Plan, Equity Securities, US | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		19		20
Pension Plan | Defined Benefit Plan, Equity Securities, US | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]			1,200
Pension Plan | Defined Benefit Plan, Equity Securities, Non-US
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		441
Pension Plan | Defined Benefit Plan, Equity Securities, Non-US | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		439		806
Pension Plan | Defined Benefit Plan, Equity Securities, Non-US | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Defined Benefit Plan, Equity Securities, Non-US | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		2		0		0
Pension Plan | Defined Benefit Plan, Equity Securities, Non-US | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		21		20
Pension Plan | Defined Benefit Plan, Equity Securities, Non-US | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				806
Pension Plan | US Treasury and Government [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,601
Pension Plan | US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,601		1,669
Pension Plan | US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | US Treasury and Government [Member] | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		42		35
Pension Plan | US Treasury and Government [Member] | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				1,669
Pension Plan | Corporate Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		3,908
Pension Plan | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		3,906		3,822
Pension Plan | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		2		0		2
Pension Plan | Corporate Debt Securities [Member] | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		3		3
Pension Plan | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				3,822
Pension Plan | Asset-backed Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		637
Pension Plan | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		637		695
Pension Plan | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				695
Pension Plan | Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		5
Pension Plan | Hedge Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Hedge Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		2		0
Pension Plan | Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		3		3		0
Pension Plan | Hedge Funds [Member] | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		143		347
Pension Plan | Hedge Funds [Member] | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				3
Pension Plan | Private Market Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		6
Pension Plan | Private Market Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Private Market Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		6		4		3
Pension Plan | Private Market Securities [Member] | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,928		1,991
Pension Plan | Private Market Securities [Member] | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				4
Pension Plan | Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		52
Pension Plan | Real Estate [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Real Estate [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Pension Plan | Real Estate [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		52		132		26
Pension Plan | Real Estate [Member] | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		768		669
Pension Plan | Real Estate [Member] | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				132
Pension Plan | Derivative, Asset [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				0
Pension Plan | Derivative, Asset [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				2
Pension Plan | Derivative, Asset [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				0
Pension Plan | Derivative, Asset [Member] | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				2
Pension Plan | Other Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		55
Pension Plan | Other Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
Pension Plan | Other Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
Pension Plan | Other Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		55
Pension Plan | Other Contract | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				0
Pension Plan | Other Contract | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				0
Pension Plan | Other Contract | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		55		62		$ 75
Pension Plan | Other Contract | Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				62
Pension Plan | Pension trust receivables
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	315
Pension Plan | Pension trust receivables | Fair Value, Inputs, Level 1, Level 2, and Level 3 | Other Reconciling Items
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]			161
Pension Plan | Pension trust payables
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]	(445)
Pension Plan | Pension trust payables | Fair Value, Inputs, Level 1, Level 2, and Level 3 | Other Reconciling Items
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[6]			$ (405)
Pension Plan | Plan Assets Total Investments Measured At NAV | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 2,924
Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Amount of Employer and Related Party Securities Included in Plan Assets, Percent		2.00%
Common Stock [Member] | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Amount of Employer and Related Party Securities Included in Plan Assets, Percent				2.00%
Common Stock [Member] | Pension Plan | Defined Benefit Plan, Equity Securities, US
Defined Benefit Plan Disclosure [Line Items]
Amount of Employer and Related Party Securities Included in Plan Assets		$ 204		$ 250

[1] The Corteva pension plans directly held $204 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2023.

[2] The Corteva pension plans directly held $250 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2022.

[3] Primarily receivables for investments securities sold.

[4] Primarily receivables for investments securities sold.

[5] Primarily payables for investment securities purchased.

[6] Primarily payables for investment securities purchased.

XML

Pension Plans and Other Post Employment Benefit Plans Summary of Fair Value Measurement of Level 3 Pension Plan Assets (Details) - Pension Plan - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 11,755		$ 12,584		$ 17,827
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		121		204		110
Actual Return (Loss) on Plan Assets Sold		(10)		(23)
Actual Return (Loss) on Plan Assets Still Held		(13)		9
Purchases, Sales, and Settlements		(41)		(14)
Assets Transferred into (out of) Level 3		(19)		122
Corporate Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		3,908
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		2		0		2
Actual Return (Loss) on Plan Assets Sold		0		(15)
Actual Return (Loss) on Plan Assets Still Held		(5)		13
Purchases, Sales, and Settlements		7		0
Assets Transferred into (out of) Level 3		0		0
Asset-backed Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		637
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		5
Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		3		3		0
Actual Return (Loss) on Plan Assets Sold		0		0
Actual Return (Loss) on Plan Assets Still Held		0		(8)
Purchases, Sales, and Settlements		0		0
Assets Transferred into (out of) Level 3		0		11
Private Market Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		6
Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		6		4		3
Actual Return (Loss) on Plan Assets Sold		0		(9)
Actual Return (Loss) on Plan Assets Still Held		2		10
Purchases, Sales, and Settlements		0		0
Assets Transferred into (out of) Level 3		0		0
Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		52
Real Estate [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		52		132		26
Actual Return (Loss) on Plan Assets Sold		0		0
Actual Return (Loss) on Plan Assets Still Held		(24)		8
Purchases, Sales, and Settlements		(35)		(1)
Assets Transferred into (out of) Level 3		(21)		99
Derivative, Asset [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		55
Derivative, Asset [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		55
Defined Benefit Plan, Equity Securities, US
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	1,108
Defined Benefit Plan, Equity Securities, US | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1	[1]	3	[2]	4
Actual Return (Loss) on Plan Assets Sold		(1)		1
Actual Return (Loss) on Plan Assets Still Held		0		0
Purchases, Sales, and Settlements		(1)		(2)
Assets Transferred into (out of) Level 3		0		0
Defined Benefit Plan, Equity Securities, Non-US
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		441
Defined Benefit Plan, Equity Securities, Non-US | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		2		0		0
Actual Return (Loss) on Plan Assets Sold		(9)		0
Actual Return (Loss) on Plan Assets Still Held		10		(13)
Purchases, Sales, and Settlements		1		1
Assets Transferred into (out of) Level 3		0		12
Other Contract | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		55		62		$ 75
Actual Return (Loss) on Plan Assets Sold		0		0
Actual Return (Loss) on Plan Assets Still Held		4		(1)
Purchases, Sales, and Settlements		(13)		(12)
Assets Transferred into (out of) Level 3		$ 2		$ 0

[1] The Corteva pension plans directly held $204 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2023.

[2] The Corteva pension plans directly held $250 million (approximately 2 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2022.

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Stock-Based Compensation Stock Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining Weighted-Average Recognition Period	1 year 1 month 6 days
OIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	20,000,000
Shares authorized for future grants	10,000,000
Tax Benefit from Compensation Expense	$ 3	$ 8	$ 8
Intrinsic value of stock options	14	43	43
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	54	55	79
Tax Benefit from Compensation Expense	$ 10	$ 10	$ 15

XML

Stock-Based Compensation Weighted Average Assumptions - Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding, weighted average remaining contractual term	4 years 11 months 26 days	5 years 4 months 13 days
OIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.96%	1.09%	1.14%
Expected Volatility	31.07%	28.95%	29.44%
Risk Free Interest Rate	4.10%	1.90%	1.00%
Expected life of stock options granted during period	6 years	6 years	6 years
OIP [Member] | Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Grant Date Fair Value	$ 21.42	$ 14.12	$ 11.77

XML

Stock-Based Compensation Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Option Award Vesting Period	3 years
Unrecognized Pretax Compensation Expense Related to Stock Options	$ 6,000
Remaining Weighted-Average Recognition Period	1 year 1 month 6 days
Dow [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Option, Expiration Period	10 years
OIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options	$ 14,000	$ 43,000	$ 43,000
Tax Benefit from Compensation Expense	$ 3,000	$ 8,000	$ 8,000
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding at beginning of period	4,225
Stock options granted during the period	298
Stock options exercised during the period	547
Stock options forfeited/expired during the period	60
Stock options outstanding at end of period	3,916	4,225
Stock options exercisable at end of period	3,255
Stock options outstanding, weighted average exercise price beginning of period	$ 39.13
Stock options granted, weighted average price	62.29
Stock options exercised during the period, weighted average exercise price	33.81
Stock options forfeited/expired, weighted average price	39.86
Stock options outstanding, weighted average exercise price end of period	41.61	$ 39.13
Stock options exercisable, weighted average exercise price	$ 38.91
Stock options outstanding, weighted average remaining contractual term	4 years 11 months 26 days	5 years 4 months 13 days
Stock options exercisable, weighted average remaining contractual term	4 years 3 months 25 days
Stock options outstanding, intrinsic value	$ 30,060	$ 82,917
Stock options exercisable, intrinsic value	$ 29,735
Grants between 2016 and 2018 [Member] | Equity Option [Member] | EIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Option, Expiration Period	10 years
Grants between June 2019 and 2020 [Member] | Equity Option [Member] | OIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Option, Expiration Period	10 years

XML

Stock-Based Compensation Restricted Stock Units and Performance Deferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU and PSU Award Vesting Period	3 years
Remaining Weighted-Average Recognition Period	1 year 1 month 6 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award, equity instruments other than options, actual awards granted, percentage of performance target	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award, equity instruments other than options, actual awards granted, percentage of performance target	200.00%
RSUs and PSUs - OIP [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Grant Date Fair Value, RSUs and PSUs granted during the period	$ 62.22	$ 51.99	$ 45.30
Fair Value of RSUs and PSUs vested during the period	$ 58	$ 88	$ 56
Unrecognized Pretax Compensation Expense Related to RSUs and PSUs	$ 60
Remaining Weighted-Average Recognition Period	1 year 1 month 20 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award conversion ratio	1
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU Requisite Service Period	6 months
Restricted Stock Units and Performance Deferred Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested RSUs and PSUs at beginning of period	3,955,000
RSUs and PSUs granted during the period	1,309,000
RSUs and PSUs vested during the period	(1,501,000)
RSUs and PSUs forfeited during the period	(267,000)
Nonvested RSUs and PSUs at end of period	3,496,000	3,955,000
Weighted average grant date fair value, nonvested RSUs and PSUs beginning of period	$ 43.56
Weighted Average Grant Date Fair Value, RSUs and PSUs granted during the period	62.22
Weighted Average Grant Date Fair Value, vested RSUs and PSUs during the period	38.48
Weighted Average Grant Date Fair Value, RSUs and PSUs forfeited during the period	39.36
Weighted average grant date fair value, nonvested RSUs and PSUs end of period	$ 53.05	$ 43.56
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs and PSUs granted during the period	284,174
Weighted Average Grant Date Fair Value, RSUs and PSUs granted during the period	$ 62.29
Management [Member] | Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU and PSU Award Vesting Period	3 years
Management [Member] | Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU and PSU Award Vesting Period	5 years
OIP [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU and PSU Award Vesting Period	3 years

XML

Financial Instruments Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Cash Equivalents [Member]
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities	$ 1,746	$ 2,296
Marketable Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities	98	124
Other Assets [Member]
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities	$ 55	$ 27

XML

Financial Instruments Notional Amounts (Details) € in Millions, $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount | $	$ (1,600)		$ (2,559)
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount | €		€ (450)

XML

Financial Instruments Cash Flow Hedges Included in AOCI (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount		$ 1,600	$ 2,559
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	[1]	$ (177)	68	$ 193
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Remaining Maturity		2 years
Beginning Balance		$ 10	32	(17)
Clearance of hedge results to earnings		27	39	25
Ending Balance		1	10	32
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax		(36)	(61)	24
After-tax net gain to be reclassified from AOCL into earnings over the next twelve months		$ 1
Commodity Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Remaining Maturity		2 years
Beginning Balance		$ 55	47	(16)
Clearance of hedge results to earnings		(39)	(94)	(29)
Ending Balance		(71)	55	47
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax		(87)	$ 102	$ 92
After-tax net gain to be reclassified from AOCL into earnings over the next twelve months		$ 58

[1] OCI is defined as other comprehensive income (loss).

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Financial Instruments Fair Value of Derivatives (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Asset, Gross		$ 88	$ 96
Derivative Asset, Counterparty and Cash Collateral Netting	[1]	(33)	(40)
Derivative Asset, Net		55	56
Derivative Liability, Gross		75	70
Derivative Liability, Counterparty and Cash Collateral Netting	[1]	(33)	(40)
Derivative Liability, Net		$ 42	$ 30
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other current assets	Other current assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Accrued and other current liabilities	Accrued and other current liabilities
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Asset, Gross		$ 83	$ 51
Derivative Asset, Counterparty and Cash Collateral Netting	[1]	(33)	(40)
Derivative Asset, Net		50	11
Derivative Liability, Gross		38	58
Derivative Liability, Counterparty and Cash Collateral Netting	[1]	(33)	(40)
Derivative Liability, Net		5	18
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Asset, Gross		2
Derivative Asset, Net		2
Derivative Liability, Gross		8
Derivative Liability, Counterparty and Cash Collateral Netting		0
Derivative Liability, Net		8
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Asset, Gross		0	41
Derivative Asset, Counterparty and Cash Collateral Netting		0	0	[1]
Derivative Asset, Net		0	41
Derivative Liability, Gross		23	9
Derivative Liability, Counterparty and Cash Collateral Netting	[1]		0
Derivative Liability, Net		23	9
Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Asset, Gross		3	4
Derivative Asset, Counterparty and Cash Collateral Netting		0	0
Derivative Asset, Net		3	4
Derivative Liability, Gross		6	3
Derivative Liability, Counterparty and Cash Collateral Netting		0	0
Derivative Liability, Net		$ 6	$ 3

[1] Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.

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Financial Instruments Effect of Derivative Instruments (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) Gain on Derivative Instruments, Net, Pretax	[1]	$ (115)	$ 24	$ (1)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of Goods Sold	Cost of Goods Sold	Cost of Goods Sold
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	[2]	$ (177)	$ 68	$ 193
(Loss) Gain on Hedging Activity	[1]	8	63	13
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, (Loss) Gain, Net	[1]	(123)	(39)	(14)
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax		(36)	(61)	24
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	[2]	0	28	37
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	[2]	(54)	(90)	27
(Loss) Gain on Hedging Activity	[1],[3]	(41)	(59)	(29)
Foreign Exchange Contract [Member] | Cost of Goods Sold | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, (Loss) Gain, Net	[1],[3]	(77)	(6)	(14)
Foreign Exchange Contract [Member] | Other Income (Expense) - net | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, (Loss) Gain, Net	[1],[4]	(28)	(12)	18
Commodity Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax		(87)	102	92
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	[2]	(123)	130	129
(Loss) Gain on Hedging Activity	[1],[3]	49	122	42
Commodity Contract [Member] | Cost of Goods Sold | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, (Loss) Gain, Net	[1],[5]	(20)	(21)	(18)
Commodity Contract [Member] | Other Income (Expense) - net | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, (Loss) Gain, Net		$ 2	$ 0	$ 0

[1] For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.

[2] OCI is defined as other comprehensive income (loss).

[3] Recorded in cost of goods sold, in the Consolidated Statement of Operations.

[4] Recognized in other income (expense) - net, in the Consolidated Statement of Operations. Note that the net loss from foreign currency contracts was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 7 - Supplementary Information, to the Consolidated Financial Statements for additional information.

[5] The net gain (loss) relating to commodity contracts that are not designated as hedging instruments that were recorded in cost of goods sold, in the Consolidated Statement of Operations, are mostly offset by the related net gain (loss) on third-party grower contracts denominated as liabilities.

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Financial Instruments Debt Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One		$ 85
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five		$ 55
Available-for-sale Securities
Debt Securities, Available-for-sale [Line Items]
Proceeds from Sale of Debt Securities, Available-for-sale	$ 226
Available-for-sale Securities, Gross Realized Gain (Loss)	$ (7)

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Fair Value Measurements Fair Value Measurement Recurring Basis (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Derivative Asset		$ 88	$ 96
Derivative Liability, Foreign Currency		75	70
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Marketable Securities		98	124
Total assets at fair value		186	220
Total Liabilities at fair value		75	70
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Contract [Member]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Derivative Asset	[1]	83	92
Derivative Liability, Foreign Currency	[1]	61	67
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commodity Contract [Member]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Derivative Asset	[1]	5	4
Derivative Liability, Foreign Currency	[1]	$ 14	$ 3

[1] See Note 20 - Financial Instruments, to the Consolidated Financial Statements, for the classification of derivatives in the Consolidated Balance Sheets.

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Geographic Information Revenue by Country (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales		$ 17,226	$ 17,455	$ 15,655
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales		7,783	7,553	6,782
CANADA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales		807	741	754
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales		3,367	3,256	3,123
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales		1,363	1,460	1,451
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	[1]	3,906	4,445	3,545
BRAZIL
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales		$ 2,523	$ 3,137	$ 2,315

[1] Net sales for Brazil for the years ended December 31, 2023, 2022 and 2021 were $2,523 million, $3,137 million and $2,315 million, respectively.

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Geographic Information Net Property by Country (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Property	$ 4,287	$ 4,254	$ 4,329
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Property	2,922	2,992	3,051
CANADA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Property	119	116	114
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Property	548	538	566
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Property	608	506	468
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Property	$ 90	$ 102	$ 130

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Segment Reporting Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net Sales	$ 17,226	$ 17,455	$ 15,655
Segment Operating EBITDA	3,491	3,340	2,714
Depreciation and Amortization	1,211	1,223	1,243
Segment Assets	37,736	37,049	35,698
Investments in nonconsolidated affiliates	115	102
Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	1,211	1,223	1,243
Investments in nonconsolidated affiliates	115	102	76
Purchases of property, plant and equipment	595	605	573
Seed [Member]
Segment Reporting Information [Line Items]
Net Sales	9,472	8,979	8,402
Segment Operating EBITDA	2,117	1,656	1,512
Segment Assets	22,732	22,952	23,270
Seed [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	814	839	866
Investments in nonconsolidated affiliates	39	35	29
Purchases of property, plant and equipment	332	225	237
Crop Protection [Member]
Segment Reporting Information [Line Items]
Net Sales	7,754	8,476	7,253
Segment Operating EBITDA	1,374	1,684	1,202
Segment Assets	15,004	14,097	12,428
Crop Protection [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	397	384	377
Investments in nonconsolidated affiliates	76	67	47
Purchases of property, plant and equipment	$ 263	$ 380	$ 336

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Segment Reporting Segment Reconciliation (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Income (Loss) from Continuing Operations After Taxes		$ 941	$ 1,216	$ 1,822
Provision for (benefit from) income taxes on continuing operations		152	210	524
Income (loss) from Continuing Operations before Income Taxes		1,093	1,426	2,346
Depreciation and Amortization		1,211	1,223	1,243
Interest income		283	124	77
Interest Expense		233	79	30
Net exchange losses	[1]	(397)	(229)	(54)
Non-operating pension and other post employment benefit credit (cost)	[2]	(119)	163	1,318
Segment Operating EBITDA		3,491	3,340	2,714
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization		1,211	1,223	1,243
Interest income		(283)	(124)	(77)
Net exchange losses		397	229	54
Non-operating pension and other post employment benefit credit (cost)		151	(111)	(1,256)	[3]
Mark-to-market gain (loss) on certain foreign currency contracts not designated as hedges		0	0	0
Significant items		(579)	(502)	(236)
Corporate Expenses		$ 110	$ 116	$ 138

[1] Includes net pre-tax exchange gains (losses) of $(284) million, $(110) million and $(67) million associated with the devaluation of the Argentine peso for the years ended December 31, 2023, 2022 and 2021, respectively.

[2] Includes non-service related components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized gain (loss), amortization of prior service benefit and settlement gain (loss)). 

[3] The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

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Segment Reporting Segment Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Segment Assets	$ 37,736	$ 37,049	$ 35,698
Corporate Assets	5,260	5,569
Assets	$ 42,996	$ 42,618

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Segment Reporting Sig Items (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost		$ 336		$ 363		$ 289
Estimated Settlement Expense	[1]	(204)		(87)
Net Sales		17,226		17,455		15,655
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	[2]	(336)		(363)		(289)
Inventory Write-down		(12)	[3]	10	[4]
Equity Securities, Mark-to-Market Gain (Loss)						47
Employee Retention Credit		3		9		60
AltEn facility remediation charges		(10)		(33)
Acquisition Related Costs	[5]	(45)
Significant items		(579)		(502)		(236)
2022 Restructuring Actions
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	[6]	42		272	[7]
2022 Restructuring Actions | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Inventory Write-down	[4]	(7)		(33)
Gain (Loss) on sale of business, assets and equity investments	[4]	14
2022 Restructuring Actions - Russia Exit | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Russia Seed Sale, pre-tax benefit	[4],[8]	18		3
Net Sales		71		8
Cost of Revenue		53		5
Settlement with Taxing Authority | 2022 Restructuring Actions - Russia Exit
Segment Reporting Information [Line Items]
Restructuring Costs	[4]			(8)
Seed [Member]
Segment Reporting Information [Line Items]
Net Sales		9,472		8,979		8,402
Seed [Member] | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	[2]	(86)		(228)		(152)
Gain (Loss) on sale of business, assets and equity investments	[4]			(5)
Equity Securities, Mark-to-Market Gain (Loss)						47
Employee Retention Credit				6		37
AltEn facility remediation charges		(10)		(33)
Contract Termination Cost						(30)
Significant items		(81)		(298)		(98)
Seed [Member] | 2022 Restructuring Actions
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost		17		120
Seed [Member] | 2022 Restructuring Actions | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Inventory Write-down	[4]	(7)		(33)
Gain (Loss) on sale of business, assets and equity investments	[4]	4
Seed [Member] | 2022 Restructuring Actions - Russia Exit | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Russia Seed Sale, pre-tax benefit	[4],[8]			3
Seed [Member] | Settlement with Taxing Authority | 2022 Restructuring Actions - Russia Exit
Segment Reporting Information [Line Items]
Restructuring Costs	[4]			(8)
Crop Protection [Member]
Segment Reporting Information [Line Items]
Net Sales		7,754		8,476		7,253
Crop Protection [Member] | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	[2]	(228)		(37)		(59)
Estimated Settlement Expense	[1]	(204)		(87)
Inventory Write-down	[3]	(12)
Gain (Loss) on sale of business, assets and equity investments				15	[4]	19
Employee Retention Credit		3		3		23
Contract Termination Cost						(24)
Acquisition Related Costs	[5]	(45)
Significant items		(476)		(106)		(60)
Crop Protection [Member] | 2022 Restructuring Actions
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost		5		41
Crop Protection [Member] | 2022 Restructuring Actions | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Gain (Loss) on sale of business, assets and equity investments	[4]	10
Corporate Segment [Member] | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	[2]	(22)		(98)		(78)
Significant items		(22)		(98)		$ (78)
Corporate Segment [Member] | 2022 Restructuring Actions
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost		$ 20		$ 111

[1] Consists of estimated Lorsban® related charges.

[2] Includes restructuring plans and asset related charges as well as accelerated prepaid amortization expense. See Note 6 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

[3] Incremental loss associated with activities related to the Crop Protection Operations Strategy Restructuring Program.

[4] Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions.

[5] Relates to acquisition-related costs, including transaction and third-party integration costs associated with the completed acquisitions of Stoller and Symborg as well as the recognition of the inventory fair value step-up. See Note 4 - Business Combinations, to the Consolidated Financial Statements, for additional information.

[6] This amount excludes other pre-tax charges recorded during the years ended December 31, 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 company's Consolidated Statement of Operations, respectively. See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information.

[7] This amount excludes other pre-tax charges recorded during the year ended December 31, 2023 and 2022 included in cost of goods sold and other income (expense) – net, in the company’s Consolidated Statement of Operations, as noted above.

[8] Includes a benefit of $18 million and $3 million for the years ended December 31, 2023 and 2022, respectively, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the Company was contractually required to purchase. It consists of $71 million and $8 million of net sales and $53 million and $5 million of cost of goods sold for the years ended December 31, 2023 and 2022, respectively.

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EIDP Basis of Presentation (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Feb. 01, 2024	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Common Stock, Shares, Outstanding	701,260,000		713,419,000	726,527,000	743,458,000
Common Stock, Par Value	$ 0.01	$ 0.01	$ 0.01
EID [Member]
Common Stock, Shares, Outstanding	200		200
Common Stock, Par Value	$ 0.30		$ 0.30
Corteva [Member] | EID [Member]
Ownership interest in an entity	100.00%

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EIDP Related Party (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Other Assets	$ 1,519	$ 1,687
EIDP
Related Party Transaction [Line Items]
Other Assets	1,896	1,687
EIDP | Related Party
Related Party Transaction [Line Items]
Long-term Debt - Related Party	0	$ 789
EIDP | Corteva [Member]
Related Party Transaction [Line Items]
Debt, Weighted Average Interest Rate		6.52%
Interest Expense	20	$ 46	$ 50
Interest Paid on Related Party Long-Term Debt	40	48	$ 51
Other Assets	377
Accrued and Other Current Liabilities [Member]
Related Party Transaction [Line Items]
Indemnified Liabilities	30	31
Accrued and Other Current Liabilities [Member] | EIDP | Corteva [Member]
Related Party Transaction [Line Items]
Accounts Payable	30	31
Other Noncurrent Obligations [Member]
Related Party Transaction [Line Items]
Indemnified Liabilities	106	115
Other Noncurrent Obligations [Member] | EIDP | Corteva [Member]
Related Party Transaction [Line Items]
Accounts Payable	$ 106	$ 115

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EIDP Income Taxes Geographic Allocation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income (loss) from Continuing Operations before Income Taxes	$ 1,093	$ 1,426	$ 2,346
Provision for (benefit from) income taxes on continuing operations	152	210	524
Net income (loss) from continuing operations after income taxes	747	1,158	1,769
Continuing Operations [Member]
Income (loss) from Continuing Operations before Income Taxes, Domestic	(414)	(1)	941
Income (Loss) from Continuing Operations before Income Taxes, Foreign	1,507	1,427	1,405
Income (loss) from Continuing Operations before Income Taxes	1,093	1,426	2,346
Current Federal Tax (Benefit) Expense	143	65	(13)
Current State and Local Tax Expense (Benefit)	40	21	6
Current Foreign Tax Expense (Benefit)	407	403	329
Total current tax expense (benefit)	590	489	322
Deferred Federal Income Tax Expense (Benefit)	(326)	(170)	164
Deferred State and Local Income Tax Expense (Benefit)	(50)	(39)	55
Deferred Foreign Income Tax Expense (Benefit)	(62)	(70)	(17)
Total deferred tax expense (benefit)	(438)	(279)	202
Provision for (benefit from) income taxes on continuing operations	152	210	524
EIDP
Income (loss) from Continuing Operations before Income Taxes	1,073	1,381	2,296
Provision for (benefit from) income taxes on continuing operations	147	199	512
Net income (loss) from continuing operations after income taxes	732	1,124	1,731
EIDP | Continuing Operations [Member]
Income (loss) from Continuing Operations before Income Taxes, Domestic	(434)	(46)	892
Income (Loss) from Continuing Operations before Income Taxes, Foreign	1,507	1,427	1,404
Income (loss) from Continuing Operations before Income Taxes	1,073	1,381	2,296
Current Federal Tax (Benefit) Expense	138	56	(23)
Current State and Local Tax Expense (Benefit)	40	19	4
Current Foreign Tax Expense (Benefit)	407	403	329
Total current tax expense (benefit)	585	478	310
Deferred Federal Income Tax Expense (Benefit)	(326)	(170)	164
Deferred State and Local Income Tax Expense (Benefit)	(50)	(39)	55
Deferred Foreign Income Tax Expense (Benefit)	(62)	(70)	(17)
Total deferred tax expense (benefit)	(438)	(279)	202
Provision for (benefit from) income taxes on continuing operations	147	199	512
Net income (loss) from continuing operations after income taxes	$ 926	$ 1,182	$ 1,784

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EIDP Income Taxes Rate Reconciliation (Details) - Continuing Operations [Member]		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statutory U.S. federal income tax rate		21.00%	21.00%	21.00%
Effective tax rates on international operations - net	[1]	(1.80%)	(3.50%)	(2.50%)
Acquisitions, divestitures, and ownership restructuring activities	[2]	(3.60%)	(5.40%)	(0.10%)
U.S. research and development credit		(5.90%)	(2.20%)	(2.40%)
Exchange gains/losses	[3]	2.00%	3.70%	1.90%
State and Local Income Taxes		0.90%	0.30%	2.10%
Impact of Swiss Tax Changes	[4]	7.90%	0.00%	0.20%
Excess tax benefits (tax deficiency) from stock-compensation		(0.50%)	(0.70%)	(0.20%)
Tax settlements and expiration of statue of limitations		(0.30%)	0.10%	0.00%
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent	[5]	2.90%	1.70%	1.00%
Other, net		(0.10%)	(0.30%)	(1.30%)
Effective Income Tax Rate		13.90%	14.70%	22.30%
EIDP
Statutory U.S. federal income tax rate		21.00%	21.00%	21.00%
Effective tax rates on international operations - net	[6]	1.90%	(3.60%)	(2.60%)
Acquisitions, divestitures, and ownership restructuring activities	[7]	(3.60%)	(5.50%)	(0.10%)
U.S. research and development credit		(6.00%)	(2.30%)	(2.50%)
Exchange gains/losses	[8]	2.00%	3.80%	1.90%
State and Local Income Taxes		0.90%	0.20%	2.20%
Impact of Swiss Tax Changes	[9]	(8.00%)	0.00%	0.20%
Excess tax benefits (tax deficiency) from stock-compensation		0.60%	(0.70%)	(0.20%)
Tax settlements and expiration of statue of limitations		(0.40%)	0.10%	0.00%
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent	[10]	2.90%	1.70%	1.00%
Other, net		(0.20%)	(0.30%)	(1.30%)
Effective Income Tax Rate		13.70%	14.40%	22.20%

[1] Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

[2] Includes net tax charge of $46 million for the year ended December 31, 2023, associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

[3] Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

[4] Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

[5] Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

[6] Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

[7] Includes a tax charge of $46 million for the year ended December 31, 2023 associated with intellectual property realignment. Includes net tax benefits of $(55) million and $(42) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

[8] Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

[9] Includes net tax benefits of $(62) million and $(24) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

[10] Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

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EIDP Segment FN Segment Reconciliation (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (Loss) from Continuing Operations After Taxes		$ 941	$ 1,216	$ 1,822
Provision for (benefit from) income taxes on continuing operations		152	210	524
Income (loss) from Continuing Operations before Income Taxes		1,093	1,426	2,346
Depreciation and Amortization		1,211	1,223	1,243
Interest income		283	124	77
Interest Expense		233	79	30
Net exchange losses	[1]	(397)	(229)	(54)
Segment Operating EBITDA		3,491	3,340	2,714
Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and Amortization		1,211	1,223	1,243
Interest income		(283)	(124)	(77)
Net exchange losses		397	229	54
Corporate Expenses		110	116	138
EIDP
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (Loss) from Continuing Operations After Taxes		926	1,182	1,784
Provision for (benefit from) income taxes on continuing operations		147	199	512
Income (loss) from Continuing Operations before Income Taxes		1,073	1,381	2,296
Depreciation and Amortization		1,211	1,223	1,243
Interest Expense		253	124	80
Non-operating benefits - net		151	(111)	(1,256)	[2]
Significant items		579	502	236
Corporate Expenses		110	116	138
Segment Operating EBITDA		3,491	3,340	2,714
EIDP | Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest income		(283)	(124)	(77)
Net exchange losses		397	229	54
Hedging Program [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net exchange losses		(26)	(12)	18
Hedging Program [Member] | Argentine peso devaluation [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net exchange losses		$ (284)	$ (110)	$ (67)

[1] Includes net pre-tax exchange gains (losses) of $(284) million, $(110) million and $(67) million associated with the devaluation of the Argentine peso for the years ended December 31, 2023, 2022 and 2021, respectively.

[2] The year ended December 31, 2021 includes non-cash benefits related to the 2020 OPEB Plan Amendments. Refer to Note 18 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

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EIDP Segment FN Segment Asset Reconciliation (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Segment Assets	$ 37,736	$ 37,049	$ 35,698
Corporate Assets	5,260	5,569
Assets	42,996	42,618
EIDP
Segment Reporting Information [Line Items]
Assets	$ 43,373	$ 42,618