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Revenue (Notes)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer REVENUE
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 $131 million, $134 million and $126 million at March 31, 2024, December 31, 2023 and March 31, 2023, 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 BalancesMarch 31, 2024December 31, 2023March 31, 2023
(In millions)
Accounts and notes receivable - trade1
$6,760 $4,329 $7,334 
Contract assets - current2
28 27 26 
Contract assets - noncurrent3
67 67 63 
Deferred revenue - current2,694 3,406 2,712 
Deferred revenue - noncurrent4
104 108 103 
1.Included in accounts and notes receivable - net in the interim Consolidated Balance Sheets.
2.Included in other current assets in the interim Consolidated Balance Sheets.
3.Included in other assets in the interim Consolidated Balance Sheets.
4.Included in other noncurrent obligations in the interim Consolidated Balance Sheets.

Revenue recognized during the three months ended March 31, 2024 and 2023 from amounts included in deferred revenue at the beginning of the period was $1,205 million and $1,201 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:
Three Months Ended March 31,
(In millions)20242023
    Corn$2,087 $1,979 
    Soybean292 269 
    Other oilseeds245 301 
    Other127 146 
Seed2,751 2,695 
    Herbicides886 1,242 
    Insecticides373 409 
    Fungicides295 359 
    Other187 179 
Crop Protection1,741 2,189 
Total$4,492 $4,884 

Sales are attributed to geographic regions based on customer location. Net sales by geographic region and segment are included below:
SeedThree Months Ended March 31,
(In millions)20242023
North America1
$1,471 $1,323 
EMEA2
918 1,012 
Latin America271 259 
Asia Pacific91 101 
Total$2,751 $2,695 

Crop ProtectionThree Months Ended March 31,
(In millions)20242023
North America1
$616 $879 
EMEA2
670 801 
Latin America244 293 
Asia Pacific211 216 
Total$1,741 $2,189 
1.Represents U.S. & Canada.
2.Europe, Middle East and Africa ("EMEA").