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Supplementary Information
 3 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Financial Information Disclosure [Text Block] SUPPLEMENTARY INFORMATION
Other Income (Expense) - NetThree Months Ended March 31,
(In millions)20242023
Interest income$35 $40 
Equity in earnings (losses) of affiliates - net8 3 
Net gain (loss) on sales of businesses and other assets4 (1)
Net exchange gains (losses)1
(59)(36)
Non-operating pension and other post employment benefit credit (costs)2
(36)(31)
Miscellaneous income (expenses) - net3
(51)(46)
Other income (expense) - net$(99)$(71)
1.Includes net pre-tax exchange gains (losses) of $(10) million and $(21) million associated with the devaluation of the Argentine peso for the three months ended March 31, 2024, and 2023, 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.Includes estimated settlement reserves and other items. The three months ended March 31, 2024 also includes the recognition of an indemnification payment negotiated with prior Stoller owners and 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. The three months ended March 31, 2023 also includes gains on the sale of assets and a loss on the sale of the company’s interest in an equity investment.
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 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 interim Consolidated Statements of Operations.
(In millions)Three Months Ended March 31,
20242023
Subsidiary Monetary Position Gain (Loss)
Pre-tax exchange gain (loss)$23 $(30)
Local tax (expenses) benefits(10)9 
Net after-tax impact from subsidiary exchange gain (loss)$13 $(21)
Hedging Program Gain (Loss)
Pre-tax exchange gain (loss)$(82)$(6)
Tax (expenses) benefits 17 2 
Net after-tax impact from hedging program exchange gain (loss)$(65)$(4)
Total Exchange Gain (Loss)
Pre-tax exchange gain (loss)$(59)$(36)
Tax (expenses) benefits7 11 
Net after-tax exchange gain (loss)$(52)$(25)
Non-Controlling Interest Adjustment1 — 
Net after-tax exchange gain (loss) attributable to Corteva$(51)$(25)
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 interim Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash equivalents presented in the interim 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 interim Consolidated Balance Sheets.
(In millions)March 31, 2024December 31, 2023March 31, 2023
Cash and cash equivalents$1,505 $2,644 $1,646 
Restricted cash equivalents509 514 422 
Total cash, cash equivalents and restricted cash equivalents$2,014 $3,158 $2,068 
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 March 31, 2024, December 31, 2023 and March 31, 2023, 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 March 31, 2023.

Accounts payable
At March 31, 2024, December 31, 2023 and March 31, 2023, accounts payable was $3,606 million, $4,280 million and $3,957 million, respectively, which includes accounts payable - trade of $1,982 million, $2,952 million and $2,315 million, respectively. Included in accounts payable – trade was seed grower compensation of approximately $285 million, $560 million and $185 million, respectively, which is measured at fair value using level 2 inputs for each period presented.