Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

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.