Quarterly Report (10-q)

Date : 08/06/2019 @ 8:53PM
Source : Edgar (US Regulatory)
Stock : DuPont de Nemours Inc (DD)
Quote : 71.66  0.53 (0.75%) @ 7:40PM

Quarterly Report (10-q)

5200000011400000096000000falsefalse--12-31--12-31Q2Q2201920192019-06-30truefalse10-Q00017556720000030554falseNon-accelerated Filerfalsefalse2598000000279600000032070000000.130.010.300.010.301666666667180000000016666666671800000000166666666718000000007488150001007488150001007488150002000.028000.036250.041500.04250.046250.049000.056000.065006300000024000000130000001102000000800000008600000030000000210000000.8751.1250.8751.1250.8751.1250.8751.1250.0000.0000.000102120102120102120230000002300000023000000230000002300000070000016730007000001673000P25YP25YP1YP1Y 0001755672 dd:SpecialtyProductsDisposalMember 2019-01-01 2019-06-30 0001755672 2019-01-01 2019-06-30 0001755672 dd:DivestedAgBusinessMember 2019-01-01 2019-06-30 0001755672 dd:ECPDisposalMember 2019-01-01 2019-06-30 0001755672 dd:BalanceSheetMember dd:OpeningBalanceAdjustmentMember us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 2019-06-30 0001755672 dd:IncomeStatementMember 2019-01-01 2019-06-30 0001755672 dd:BalanceSheetMember 2019-01-01 2019-06-30 0001755672 dd:BalanceSheetMember dd:SpecialtyProductsDisposalMember 2019-01-01 2019-06-30 0001755672 dd:IncomeStatementMember dd:ECPDisposalMember 2019-01-01 2019-06-30 0001755672 dd:IncomeStatementMember dd:SpecialtyProductsDisposalMember 2019-01-01 2019-06-30 0001755672 dd:CashFlowMember dd:ECPDisposalMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember 2019-01-01 2019-06-30 0001755672 us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember dd:A3.50SeriesPreferredStockMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember dd:A4.50SeriesPreferredStockMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember 2019-07-26 0001755672 dd:EIDMember 2019-06-30 0001755672 2019-06-30 0001755672 2019-07-26 0001755672 2019-04-01 2019-06-30 0001755672 2018-01-01 2018-06-30 0001755672 2018-04-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2019-04-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-04-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2018-01-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-04-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-01-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2018-04-01 2018-06-30 0001755672 2018-12-31 0001755672 2018-06-30 0001755672 dd:TotalcompanyMember 2019-01-01 2019-06-30 0001755672 2017-09-01 2017-09-30 0001755672 dd:TotalcompanyMember 2018-01-01 2018-06-30 0001755672 2017-12-31 0001755672 2019-01-01 2019-03-31 0001755672 dd:DivisionalEquityMember 2018-03-31 0001755672 dd:DivisionalEquityMember 2018-04-01 2018-06-30 0001755672 dd:DivisionalEquityMember 2019-04-01 2019-06-30 0001755672 dd:DivisionalEquityMember 2019-01-01 2019-03-31 0001755672 dd:DivisionalEquityMember 2018-01-01 2018-03-31 0001755672 2018-01-01 2018-03-31 0001755672 dd:DivisionalEquityMember 2018-06-30 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001755672 2018-03-31 0001755672 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-04-01 2018-06-30 0001755672 us-gaap:TreasuryStockMember 2019-03-31 0001755672 dd:DivisionalEquityMember 2019-03-31 0001755672 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001755672 us-gaap:TreasuryStockMember 2018-06-30 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0001755672 us-gaap:RetainedEarningsMember 2018-12-31 0001755672 us-gaap:RetainedEarningsMember 2019-03-31 0001755672 us-gaap:NoncontrollingInterestMember 2019-03-31 0001755672 us-gaap:RetainedEarningsMember 2018-03-31 0001755672 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001755672 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0001755672 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001755672 us-gaap:CommonStockMember 2019-06-30 0001755672 dd:DivisionalEquityMember 2018-12-31 0001755672 us-gaap:TreasuryStockMember 2019-06-30 0001755672 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001755672 us-gaap:NoncontrollingInterestMember 2018-12-31 0001755672 us-gaap:NoncontrollingInterestMember 2019-04-01 2019-06-30 0001755672 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001755672 us-gaap:CommonStockMember 2019-03-31 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001755672 us-gaap:CommonStockMember 2017-12-31 0001755672 us-gaap:NoncontrollingInterestMember 2019-06-30 0001755672 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001755672 us-gaap:NoncontrollingInterestMember 2018-03-31 0001755672 us-gaap:NoncontrollingInterestMember 2018-01-01 2018-03-31 0001755672 us-gaap:CommonStockMember 2018-03-31 0001755672 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001755672 us-gaap:NoncontrollingInterestMember 2017-12-31 0001755672 us-gaap:NoncontrollingInterestMember 2018-06-30 0001755672 us-gaap:RetainedEarningsMember 2018-06-30 0001755672 us-gaap:CommonStockMember 2018-12-31 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001755672 us-gaap:TreasuryStockMember 2018-12-31 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001755672 dd:DivisionalEquityMember 2017-12-31 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0001755672 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001755672 us-gaap:NoncontrollingInterestMember 2018-04-01 2018-06-30 0001755672 2019-03-31 0001755672 us-gaap:TreasuryStockMember 2017-12-31 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0001755672 us-gaap:CommonStockMember 2018-06-30 0001755672 dd:DivisionalEquityMember 2019-06-30 0001755672 us-gaap:RetainedEarningsMember 2017-12-31 0001755672 us-gaap:RetainedEarningsMember 2019-06-30 0001755672 us-gaap:TreasuryStockMember 2018-03-31 0001755672 dd:CortevaMember dd:SharesofDowDuPontCommonStockHeldMember 2019-06-01 0001755672 dd:DowMember 2019-04-01 0001755672 dd:CortevaMember 2019-01-01 2019-06-30 0001755672 dd:CortevaMember dd:EIDMember 2019-01-01 2019-06-30 0001755672 dd:CortevaMember 2019-06-01 0001755672 dd:CortevaMember 2019-06-01 0001755672 dd:CortevaMember 2019-06-30 0001755672 dd:CortevaMember dd:SharesofCortevaStockMember 2019-06-01 0001755672 dd:CortevaMember 2019-06-03 0001755672 dd:EIDMember dd:DASMember 2019-01-01 2019-06-30 0001755672 dd:EffectofAdoptionofASU201602Member 2019-01-01 0001755672 dd:UpdatedMember 2019-01-01 0001755672 dd:DiscontinuedOperationsandOtherAdjustmentsMember 2018-01-01 2018-06-30 0001755672 dd:HistoricalEIDMember 2018-01-01 2018-06-30 0001755672 dd:DASMember 2018-01-01 2018-06-30 0001755672 dd:HistoricalEIDMember 2018-04-01 2018-06-30 0001755672 dd:DASMember 2018-04-01 2018-06-30 0001755672 dd:DiscontinuedOperationsandOtherAdjustmentsMember 2018-04-01 2018-06-30 0001755672 dd:DASCommonControlTransferMember 2017-09-01 0001755672 dd:HistoricalEIDMember 2019-01-01 2019-03-31 0001755672 dd:DASMember 2019-01-01 2019-03-31 0001755672 dd:DiscontinuedOperationsandOtherAdjustmentsMember 2019-01-01 2019-03-31 0001755672 dd:SpecialtyProductsDisposalMember 2018-12-31 0001755672 dd:SpecialtyProductsDisposalMember 2018-06-30 0001755672 dd:ECPDisposalMember 2018-01-01 2018-06-30 0001755672 dd:ECPDisposalMember 2019-04-01 2019-06-30 0001755672 dd:ECPDisposalMember 2018-04-01 2018-06-30 0001755672 dd:SpecialtyProductsDisposalMember 2018-04-01 2018-06-30 0001755672 dd:SpecialtyProductsDisposalMember 2019-04-01 2019-06-30 0001755672 dd:SpecialtyProductsDisposalMember 2018-01-01 2018-06-30 0001755672 dd:DivestedAgBusinessMember 2018-01-01 2018-06-30 0001755672 dd:DowMember dd:AccruedandOtherCurrentLiabilitiesMember 2019-06-30 0001755672 dd:OtherdiscontinuedoperationsMember 2019-04-01 2019-06-30 0001755672 dd:DowMember us-gaap:OtherAssetsMember 2019-06-30 0001755672 dd:DuPontdeNemoursMember us-gaap:OtherNoncurrentLiabilitiesMember 2019-06-30 0001755672 dd:DowMember us-gaap:OtherNoncurrentLiabilitiesMember 2019-06-30 0001755672 dd:DivestedAgBusinessMember 2019-04-01 2019-06-30 0001755672 dd:SpecialtyProductsDisposalMember dd:IndustrialBiosciencesMember 2019-04-01 2019-06-30 0001755672 dd:DuPontdeNemoursMember dd:AccountsandNotesReceivableMember 2019-06-30 0001755672 dd:CashFlowMember dd:SpecialtyProductsDisposalMember 2019-01-01 2019-06-30 0001755672 dd:BalanceSheetMember dd:ECPDisposalMember 2019-01-01 2019-06-30 0001755672 dd:PrincipalProductGroupsMember 2019-01-01 2019-06-30 0001755672 dei:LocationDomain 2019-01-01 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember 2019-01-01 2019-06-30 0001755672 dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2019-01-01 2019-06-30 0001755672 dd:DuPontdeNemoursMember us-gaap:OtherAssetsMember 2019-06-30 0001755672 dd:DuPontdeNemoursMember dd:AccruedandOtherCurrentLiabilitiesMember 2019-06-30 0001755672 dd:DowMember dd:AccountsandNotesReceivableMember 2019-06-30 0001755672 dd:ECPDisposalMember 2018-06-30 0001755672 dd:ECPDisposalMember 2018-12-31 0001755672 dd:SpecialtyProductsDisposalMember dd:IndustrialBiosciencesMember 2019-01-01 2019-06-30 0001755672 dd:OtherdiscontinuedoperationsMember 2019-01-01 2019-06-30 0001755672 us-gaap:OtherNoncurrentLiabilitiesMember 2018-12-31 0001755672 dd:AccruedandOtherCurrentLiabilitiesMember 2018-12-31 0001755672 us-gaap:OtherNoncurrentLiabilitiesMember 2018-06-30 0001755672 dd:AccruedandOtherCurrentLiabilitiesMember 2018-06-30 0001755672 dd:AccruedandOtherCurrentLiabilitiesMember 2019-06-30 0001755672 us-gaap:OtherNoncurrentLiabilitiesMember 2019-06-30 0001755672 srt:LatinAmericaMember dd:SeedMember 2018-01-01 2018-06-30 0001755672 srt:LatinAmericaMember dd:SeedMember 2018-04-01 2018-06-30 0001755672 srt:LatinAmericaMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 srt:AsiaPacificMember dd:SeedMember 2018-04-01 2018-06-30 0001755672 dd:SeedMember 2018-04-01 2018-06-30 0001755672 us-gaap:EMEAMember dd:SeedMember 2018-01-01 2018-06-30 0001755672 us-gaap:EMEAMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 dd:U.S.CanadaMember dd:SeedMember 2018-01-01 2018-06-30 0001755672 dd:SeedMember 2019-01-01 2019-06-30 0001755672 srt:AsiaPacificMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 srt:AsiaPacificMember dd:SeedMember 2018-01-01 2018-06-30 0001755672 dd:SeedMember 2019-04-01 2019-06-30 0001755672 dd:U.S.CanadaMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 srt:LatinAmericaMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 srt:AsiaPacificMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 dd:U.S.CanadaMember dd:SeedMember 2018-04-01 2018-06-30 0001755672 dd:U.S.CanadaMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 us-gaap:EMEAMember dd:SeedMember 2018-04-01 2018-06-30 0001755672 dd:SeedMember 2018-01-01 2018-06-30 0001755672 us-gaap:EMEAMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 dd:OtheroilseedsMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 dd:OtheroilseedsMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 dd:InsecticidesMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 dd:CornMember dd:SeedMember 2018-01-01 2018-06-30 0001755672 dd:OtherMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 dd:SoybeanMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 dd:HerbicidesMember dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 dd:FungicidesMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 dd:OtherMember dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 dd:OtheroilseedsMember dd:SeedMember 2018-01-01 2018-06-30 0001755672 dd:OtherMember dd:SeedMember 2018-04-01 2018-06-30 0001755672 dd:InsecticidesMember dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 dd:OtherMember dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 dd:OtherMember dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 dd:SoybeanMember dd:SeedMember 2018-01-01 2018-06-30 0001755672 dd:InsecticidesMember dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 dd:FungicidesMember dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 dd:InsecticidesMember dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 dd:SoybeanMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 dd:FungicidesMember dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 dd:CornMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 dd:CornMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 dd:HerbicidesMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 dd:SoybeanMember dd:SeedMember 2018-04-01 2018-06-30 0001755672 dd:CornMember dd:SeedMember 2018-04-01 2018-06-30 0001755672 dd:OtheroilseedsMember dd:SeedMember 2018-04-01 2018-06-30 0001755672 dd:FungicidesMember dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 dd:HerbicidesMember dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 dd:OtherMember dd:SeedMember 2018-01-01 2018-06-30 0001755672 dd:OtherMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 dd:HerbicidesMember dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 dd:OtherMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 dd:U.S.CanadaMember dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 srt:LatinAmericaMember dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 srt:LatinAmericaMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 srt:LatinAmericaMember dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 dd:U.S.CanadaMember dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 srt:AsiaPacificMember dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 srt:AsiaPacificMember dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 dd:U.S.CanadaMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 us-gaap:EMEAMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 us-gaap:EMEAMember dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 us-gaap:EMEAMember dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 srt:AsiaPacificMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 us-gaap:EMEAMember dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 srt:LatinAmericaMember dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 dd:U.S.CanadaMember dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 srt:AsiaPacificMember dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 srt:MaximumMember 2019-06-30 0001755672 srt:MinimumMember 2019-06-30 0001755672 dd:DowDuPontAgricultureDivisionRestructuringProgramMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 dd:DowDuPontAgricultureDivisionRestructuringProgramMember us-gaap:CorporateNonSegmentMember 2019-01-01 2019-06-30 0001755672 dd:DowDuPontAgricultureDivisionRestructuringProgramMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontCostSynergyProgramMember 2019-01-01 2019-06-30 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontCostSynergyProgramMember 2019-01-01 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember 2018-12-31 0001755672 dd:CostsRelatedToContractTerminationMember dd:DowDuPontCostSynergyProgramMember 2019-01-01 2019-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontCostSynergyProgramMember 2019-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontCostSynergyProgramMember 2018-12-31 0001755672 dd:DowDuPontCostSynergyProgramMember 2019-06-30 0001755672 dd:CostsRelatedToContractTerminationMember dd:DowDuPontCostSynergyProgramMember 2019-06-30 0001755672 dd:CostsRelatedToContractTerminationMember dd:DowDuPontCostSynergyProgramMember 2018-12-31 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontCostSynergyProgramMember 2018-12-31 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontCostSynergyProgramMember 2019-06-30 0001755672 dd:CostsRelatedToContractTerminationMember dd:DowDuPontCostSynergyProgramMember 2018-01-01 2018-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember 2018-01-01 2018-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontCostSynergyProgramMember 2018-01-01 2018-06-30 0001755672 dd:CostsRelatedToContractTerminationMember dd:DowDuPontCostSynergyProgramMember 2019-04-01 2019-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontCostSynergyProgramMember 2019-04-01 2019-06-30 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontCostSynergyProgramMember 2018-04-01 2018-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontCostSynergyProgramMember 2018-04-01 2018-06-30 0001755672 dd:CostsRelatedToContractTerminationMember dd:DowDuPontCostSynergyProgramMember 2018-04-01 2018-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember 2018-04-01 2018-06-30 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontCostSynergyProgramMember 2019-04-01 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember 2019-04-01 2019-06-30 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontCostSynergyProgramMember 2018-01-01 2018-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontCostSynergyProgramMember 2017-09-01 2019-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2019-01-01 2019-06-30 0001755672 dd:CostsRelatedToContractTerminationMember dd:DowDuPontCostSynergyProgramMember 2017-09-01 2019-06-30 0001755672 dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2018-11-30 2019-06-30 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2019-01-01 2019-06-30 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontCostSynergyProgramMember 2017-09-01 2019-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2018-11-30 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember 2017-09-01 2019-06-30 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2018-11-30 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember dd:CropProtectionMember 2018-01-01 2018-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember dd:CropProtectionMember 2019-01-01 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember dd:CropProtectionMember 2018-04-01 2018-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember us-gaap:CorporateNonSegmentMember 2019-01-01 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember us-gaap:CorporateNonSegmentMember 2018-04-01 2018-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember dd:SeedMember 2018-01-01 2018-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember dd:CropProtectionMember 2019-04-01 2019-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember dd:SeedMember 2018-04-01 2018-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember us-gaap:CorporateNonSegmentMember 2018-01-01 2018-06-30 0001755672 dd:DowDuPontCostSynergyProgramMember us-gaap:CorporateNonSegmentMember 2019-04-01 2019-06-30 0001755672 dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2018-12-31 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2019-06-30 0001755672 dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2019-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2019-06-30 0001755672 dd:AssetRelatedChargesMember dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2018-12-31 0001755672 us-gaap:EmployeeSeveranceMember dd:DowDuPontAgricultureDivisionRestructuringProgramMember 2018-12-31 0001755672 dd:DowDuPontMember 2018-12-31 0001755672 dd:DowDuPontMember 2018-06-30 0001755672 dd:DowMember 2018-04-01 2018-06-30 0001755672 2017-11-02 0001755672 dd:DowMember 2018-01-01 2018-06-30 0001755672 dd:DowMember 2019-04-01 2019-06-30 0001755672 dd:DowDuPontMember 2018-01-01 2018-06-30 0001755672 dd:DowDuPontMember 2019-01-01 2019-06-30 0001755672 dd:DowMember 2018-12-31 0001755672 dd:DowMember 2018-06-30 0001755672 us-gaap:OtherCurrentAssetsMember 2019-06-30 0001755672 us-gaap:OtherCurrentAssetsMember 2018-12-31 0001755672 us-gaap:OtherCurrentAssetsMember 2018-06-30 0001755672 us-gaap:SegmentContinuingOperationsMember 2018-12-31 0001755672 us-gaap:SegmentContinuingOperationsMember 2019-06-30 0001755672 us-gaap:SegmentContinuingOperationsMember 2018-06-30 0001755672 srt:SubsidiariesMember 2019-01-01 2019-06-30 0001755672 dd:HedgingProgramMember 2019-04-01 2019-06-30 0001755672 srt:SubsidiariesMember 2018-04-01 2018-06-30 0001755672 srt:SubsidiariesMember 2019-04-01 2019-06-30 0001755672 dd:HedgingProgramMember 2019-01-01 2019-06-30 0001755672 dd:HedgingProgramMember 2018-04-01 2018-06-30 0001755672 srt:SubsidiariesMember 2018-01-01 2018-06-30 0001755672 dd:HedgingProgramMember 2018-01-01 2018-06-30 0001755672 dd:HedgingProgramMember dd:TaxReformForeignCurrencyExchangeImpactMember dd:EIDMember 2018-01-01 2018-06-30 0001755672 dd:FactoringAgreementMember 2018-01-01 2018-06-30 0001755672 dd:FactoringAgreementMember 2019-04-01 2019-06-30 0001755672 dd:FactoringAgreementMember 2019-01-01 2019-06-30 0001755672 dd:FactoringAgreementMember 2018-04-01 2018-06-30 0001755672 dd:FactoringAgreementMember 2018-01-01 2018-12-31 0001755672 dd:MergerwithDowMember 2018-01-01 2018-06-30 0001755672 dd:MergerwithDowMember 2018-04-01 2018-06-30 0001755672 dd:MergerwithDowMember 2017-09-01 0001755672 dd:MergerwithDowMember 2019-01-01 2019-06-30 0001755672 dd:MergerwithDowMember 2019-04-01 2019-06-30 0001755672 srt:MaximumMember us-gaap:BuildingMember 2018-01-01 2018-12-31 0001755672 srt:MaximumMember us-gaap:ComputerSoftwareIntangibleAssetMember 2018-01-01 2018-12-31 0001755672 srt:MinimumMember us-gaap:ComputerSoftwareIntangibleAssetMember 2018-01-01 2018-12-31 0001755672 srt:MinimumMember us-gaap:BuildingMember 2018-01-01 2018-12-31 0001755672 us-gaap:LandAndLandImprovementsMember 2018-12-31 0001755672 us-gaap:LandAndLandImprovementsMember 2019-06-30 0001755672 us-gaap:MachineryAndEquipmentMember 2019-06-30 0001755672 us-gaap:ConstructionInProgressMember 2018-06-30 0001755672 us-gaap:ConstructionInProgressMember 2019-06-30 0001755672 us-gaap:MachineryAndEquipmentMember 2018-06-30 0001755672 us-gaap:BuildingMember 2018-06-30 0001755672 us-gaap:LandAndLandImprovementsMember 2018-06-30 0001755672 us-gaap:BuildingMember 2018-12-31 0001755672 us-gaap:MachineryAndEquipmentMember 2018-12-31 0001755672 us-gaap:ConstructionInProgressMember 2018-12-31 0001755672 us-gaap:BuildingMember 2019-06-30 0001755672 srt:MaximumMember us-gaap:LandImprovementsMember 2019-01-01 2019-06-30 0001755672 srt:MinimumMember us-gaap:MachineryAndEquipmentMember 2019-01-01 2019-06-30 0001755672 srt:MinimumMember us-gaap:LandImprovementsMember 2019-01-01 2019-06-30 0001755672 srt:MaximumMember us-gaap:MachineryAndEquipmentMember 2019-01-01 2019-06-30 0001755672 dd:AgricultureMember 2018-12-31 0001755672 2019-01-01 2019-05-31 0001755672 dd:AgricultureMember 2019-01-01 2019-05-31 0001755672 dd:SeedMember 2019-01-01 2019-05-31 0001755672 dd:CropProtectionMember 2019-01-01 2019-05-31 0001755672 dd:AgricultureMember 2019-06-30 0001755672 dd:AgricultureMember 2019-06-01 0001755672 dd:CropProtectionMember 2018-12-31 0001755672 dd:CropProtectionMember 2019-06-02 2019-06-30 0001755672 dd:CropProtectionMember 2019-06-01 0001755672 dd:SeedMember 2019-06-30 0001755672 dd:SeedMember 2018-12-31 0001755672 2019-06-02 2019-06-30 0001755672 dd:CropProtectionMember 2019-06-30 0001755672 dd:AgricultureMember 2019-06-02 2019-06-30 0001755672 dd:SeedMember 2019-06-01 0001755672 2019-06-01 0001755672 dd:SeedMember 2019-06-02 2019-06-30 0001755672 us-gaap:OtherIntangibleAssetsMember 2018-06-30 0001755672 us-gaap:TrademarksAndTradeNamesMember 2019-06-30 0001755672 us-gaap:TrademarksAndTradeNamesMember 2018-12-31 0001755672 dd:GermplasmMember 2019-06-30 0001755672 us-gaap:InProcessResearchAndDevelopmentMember 2019-06-30 0001755672 us-gaap:OtherIntangibleAssetsMember 2018-12-31 0001755672 us-gaap:OtherIntangibleAssetsMember 2018-12-31 0001755672 us-gaap:TrademarksAndTradeNamesMember 2018-12-31 0001755672 us-gaap:CustomerRelatedIntangibleAssetsMember 2018-06-30 0001755672 dd:GermplasmMember 2018-12-31 0001755672 dd:FavorableSupplyContractMember 2019-06-30 0001755672 us-gaap:OtherIntangibleAssetsMember 2019-06-30 0001755672 us-gaap:DevelopedTechnologyRightsMember 2018-12-31 0001755672 dd:FavorableSupplyContractMember 2018-06-30 0001755672 us-gaap:CustomerRelatedIntangibleAssetsMember 2018-12-31 0001755672 us-gaap:InProcessResearchAndDevelopmentMember 2018-06-30 0001755672 dd:FavorableSupplyContractMember 2018-12-31 0001755672 us-gaap:TrademarksAndTradeNamesMember 2019-06-30 0001755672 us-gaap:OtherIntangibleAssetsMember 2018-06-30 0001755672 us-gaap:DevelopedTechnologyRightsMember 2018-06-30 0001755672 us-gaap:TrademarksAndTradeNamesMember 2018-06-30 0001755672 us-gaap:DevelopedTechnologyRightsMember 2019-06-30 0001755672 us-gaap:TrademarksAndTradeNamesMember 2018-06-30 0001755672 us-gaap:InProcessResearchAndDevelopmentMember 2018-12-31 0001755672 us-gaap:CustomerRelatedIntangibleAssetsMember 2019-06-30 0001755672 us-gaap:OtherIntangibleAssetsMember 2019-06-30 0001755672 dd:GermplasmMember 2018-06-30 0001755672 dd:ResidualValueGuaranteeMember 2019-06-30 0001755672 srt:MinimumMember 2019-01-01 2019-06-30 0001755672 srt:MaximumMember 2019-01-01 2019-06-30 0001755672 us-gaap:ShortTermDebtMember 2019-06-30 0001755672 us-gaap:LongTermDebtMember 2019-06-30 0001755672 us-gaap:PropertyPlantAndEquipmentMember 2019-06-30 0001755672 us-gaap:MediumTermNotesMember 2019-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityCurrentYearMember us-gaap:LoansPayableMember 2018-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearSixandThereafterMember us-gaap:LoansPayableMember 2019-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearSixandThereafterMember us-gaap:LoansPayableMember 2018-06-30 0001755672 dd:TermLoanFacilitydue2020Member us-gaap:LoansPayableMember 2019-06-30 0001755672 dd:ForeignCurrencyLoansMember us-gaap:LoansPayableMember 2018-12-31 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearThreeMember us-gaap:LoansPayableMember 2019-06-30 0001755672 dd:ForeignCurrencyLoansMember us-gaap:LoansPayableMember 2019-06-30 0001755672 us-gaap:MediumTermNotesMember 2018-12-31 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearFiveMember us-gaap:LoansPayableMember 2018-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearThreeMember us-gaap:LoansPayableMember 2018-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityCurrentYearMember us-gaap:LoansPayableMember 2019-06-30 0001755672 dd:TermLoanFacilitydue2020Member us-gaap:LoansPayableMember 2018-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearTwoMember us-gaap:LoansPayableMember 2018-12-31 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearTwoMember us-gaap:LoansPayableMember 2018-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearOneMember us-gaap:LoansPayableMember 2019-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearTwoMember us-gaap:LoansPayableMember 2019-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearSixandThereafterMember us-gaap:LoansPayableMember 2018-12-31 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearThreeMember us-gaap:LoansPayableMember 2018-12-31 0001755672 us-gaap:MediumTermNotesMember 2018-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearFiveMember us-gaap:LoansPayableMember 2019-06-30 0001755672 dd:ForeignCurrencyLoansMember us-gaap:LoansPayableMember 2018-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityCurrentYearMember us-gaap:LoansPayableMember 2018-12-31 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearFiveMember us-gaap:LoansPayableMember 2018-12-31 0001755672 dd:TermLoanFacilitydue2020Member us-gaap:LoansPayableMember 2018-12-31 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearOneMember us-gaap:LoansPayableMember 2018-06-30 0001755672 dd:PromissoryNotesandDebenturesFinalMaturityYearOneMember us-gaap:LoansPayableMember 2018-12-31 0001755672 us-gaap:RepurchaseAgreementsMember us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember 2019-06-30 0001755672 dd:RevolvingCreditFacilitiesdue2024Member 2019-06-30 0001755672 us-gaap:DebtMember 2019-01-01 2019-06-30 0001755672 dd:RevolvingCreditFacilitiesdue2022Member 2019-06-30 0001755672 us-gaap:RepurchaseAgreementsMember us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember 2018-02-13 0001755672 dd:TermLoanFacilitydue2020Member 2019-05-02 0001755672 dd:RevolvingCreditFacilitiesdue2024Member 2018-11-13 0001755672 dd:RevolvingCreditFacilitiesdue2022Member us-gaap:ScenarioForecastMember 2018-11-13 2023-11-13 0001755672 2018-12-11 0001755672 us-gaap:FairValueInputsLevel2Member 2019-06-30 0001755672 dd:TermLoanFacilitydue2020Member 2016-03-22 0001755672 us-gaap:SeniorSubordinatedNotesMember 2018-07-01 0001755672 dd:SeniorNote2.20PercentDue2020Member 2019-05-17 0001755672 dd:RevolvingCreditFacilitiesdue2022Member 2018-11-13 0001755672 us-gaap:FairValueInputsLevel2Member 2018-12-31 0001755672 dd:SMRnotesMember 2019-05-17 0001755672 dd:RevolvingCreditFacilitiesdue2022Member us-gaap:ScenarioForecastMember 2018-11-13 2021-11-13 0001755672 us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember 2018-11-13 0001755672 2019-05-02 2019-05-02 0001755672 dd:AccountsandNotesReceivableMember us-gaap:RepurchaseAgreementsMember us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember 2019-06-30 0001755672 us-gaap:FairValueInputsLevel2Member 2018-06-30 0001755672 dd:SeniorNoteFloatingRateDue2020Member 2019-05-17 0001755672 dd:A4.900Notesdue2041Member 2019-03-22 0001755672 dd:A3.625Notesdue2021Member 2019-03-22 0001755672 dd:A4.625Notesdue2020Member 2019-03-22 0001755672 2019-03-22 0001755672 dd:A2.800Notesdue2023Member 2019-03-22 0001755672 dd:A4.150Notesdue2043Member 2019-03-22 0001755672 dd:A5.600SeniorNotesdue2036Member 2019-03-22 0001755672 dd:A4.250Notesdue2021Member 2019-03-22 0001755672 dd:A6.500Debenturesdue2028Member 2019-03-22 0001755672 us-gaap:CommercialPaperMember 2019-06-30 0001755672 dd:OtherloansvariouscurrenciesMember 2018-12-31 0001755672 us-gaap:CommercialPaperMember 2018-06-30 0001755672 us-gaap:CommercialPaperMember 2018-12-31 0001755672 us-gaap:RepurchaseAgreementsMember us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember 2018-06-30 0001755672 dd:OtherloansvariouscurrenciesMember 2018-06-30 0001755672 us-gaap:RepurchaseAgreementsMember us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember 2018-12-31 0001755672 dd:OtherloansvariouscurrenciesMember 2019-06-30 0001755672 dd:EnvironmentalremediationliabilitiesprimarilyrelatedtoDuPontsubjecttoindemnityfromDuPontMember 2019-06-30 0001755672 us-gaap:SegmentDiscontinuedOperationsMember 2019-06-30 0001755672 dd:NotsubjecttoindemnificationMember 2019-06-30 0001755672 dd:ChemoursrelatedobligationsubjecttoindemnificationMember 2019-06-30 0001755672 dd:FactoringAgreementMember 2018-06-30 0001755672 dd:ChemoursMember 2015-07-01 2015-07-01 0001755672 dd:PFOAMattersDrinkingWaterActionsMember 2004-12-31 0001755672 dd:PFOAMattersMultiDistrictLitigationMember 2019-06-30 0001755672 dd:ChemoursMember us-gaap:OtherAssetsMember 2019-06-30 0001755672 dd:SuperfundSitesMember 2019-06-30 0001755672 stpr:NC dd:PFOAMattersDrinkingWaterActionsMember 2019-01-01 2019-06-30 0001755672 dd:PFOAMattersDrinkingWaterActionsMember 2012-01-01 2019-06-30 0001755672 dd:PFOAMattersDrinkingWaterActionsMember 2004-01-01 2004-12-31 0001755672 dd:PFASMember srt:MinimumMember 2019-06-30 0001755672 dd:CortevaMember dd:PFASMember 2019-06-30 0001755672 stpr:NJ dd:PFOAMattersDrinkingWaterActionsMember 2019-06-30 0001755672 dd:PFASMember srt:MaximumMember 2019-06-30 0001755672 dd:FactoringAgreementMember 2018-12-31 0001755672 dd:FactoringAgreementMember 2019-06-30 0001755672 stpr:NY dd:PFOAMattersDrinkingWaterActionsMember 2019-06-30 0001755672 dd:CortevaMember 2019-06-30 0001755672 dd:PFASMember srt:MinimumMember dd:Once300millionthresholdismetMember 2019-06-30 0001755672 dd:PFOAMattersMultiDistrictLitigationMember 2017-07-06 2022-07-06 0001755672 dd:NotpartofMDLorfiledonbehalfofLeachclassmembersMember dd:PFOAMattersDrinkingWaterActionsMember 2019-06-30 0001755672 dd:PFOAMattersDrinkingWaterActionsMember 2012-01-01 0001755672 dd:ChemoursMember dd:PFOAMattersMember 2019-06-30 0001755672 dd:DuPontdeNemoursMember dd:PFASMember 2019-06-30 0001755672 dd:ChemoursMember dd:PFOAMattersMultiDistrictLitigationMember 2019-06-30 0001755672 dd:DuPontdeNemoursMember 2019-06-30 0001755672 dd:CortevaMember dd:DuPontdeNemoursMember 2019-06-30 0001755672 stpr:OH dd:PFOAMattersDrinkingWaterActionsMember 2019-06-30 0001755672 dd:DuPontdeNemoursMember dd:DuPontdeNemoursMember 2019-06-30 0001755672 dd:CurrentPortionMember 2019-06-30 0001755672 dd:ChemoursMember dd:SuperfundSitesMember us-gaap:IndemnificationGuaranteeMember 2019-06-30 0001755672 dd:FirefightingFoamMember 2019-06-30 0001755672 stpr:NJ dd:NaturalResourcesDamagesMember 2019-06-30 0001755672 dd:DuPontdeNemoursMember 2019-06-30 0001755672 dd:ChemoursMember dd:AccountsandNotesReceivableMember 2019-06-30 0001755672 dd:ChemoursMember us-gaap:OtherNoncurrentLiabilitiesMember 2019-06-30 0001755672 dd:WESTVIRGINIAANDOHIODomain dd:PFOAMattersDrinkingWaterActionsMember 2019-06-30 0001755672 dd:ChemoursMember dd:AccruedandOtherCurrentLiabilitiesMember 2019-06-30 0001755672 dd:PFOAMattersMultiDistrictLitigationMember 2017-01-01 2017-03-31 0001755672 dd:PFOAMattersMember 2019-06-30 0001755672 dd:EIDMember dd:A4.50SeriesPreferredStockMember 2019-06-30 0001755672 dd:EIDMember dd:A3.50SeriesPreferredStockMember 2019-06-30 0001755672 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-01-01 2019-06-30 0001755672 us-gaap:AccumulatedTranslationAdjustmentMember dd:InternalReorganizationMember 2019-01-01 2019-06-30 0001755672 us-gaap:AccumulatedTranslationAdjustmentMember 2018-06-30 0001755672 us-gaap:AccumulatedTranslationAdjustmentMember 2018-01-01 2018-06-30 0001755672 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-12-31 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2017-12-31 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-01-01 2018-06-30 0001755672 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0001755672 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember dd:InternalReorganizationMember 2019-01-01 2019-06-30 0001755672 us-gaap:DerivativeMember dd:InternalReorganizationMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2017-12-31 0001755672 us-gaap:PensionPlansDefinedBenefitMember dd:InternalReorganizationMember 2019-01-01 2019-06-30 0001755672 us-gaap:AccumulatedTranslationAdjustmentMember 2017-12-31 0001755672 us-gaap:AccumulatedTranslationAdjustmentMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2018-06-30 0001755672 us-gaap:AccumulatedTranslationAdjustmentMember 2019-06-30 0001755672 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2017-12-31 0001755672 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2018-01-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-12-31 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-06-30 0001755672 us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0001755672 us-gaap:ComprehensiveIncomeMember dd:InternalReorganizationMember 2019-01-01 2019-06-30 0001755672 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2019-06-30 0001755672 2019-06-26 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2019-04-01 2019-06-30 0001755672 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-04-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember 2018-04-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-04-01 2018-06-30 0001755672 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-04-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-04-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-04-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-04-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-04-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-04-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2018-04-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2019-04-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember dd:AccumulatedDefinedBenefitPlansAdjustmentSettlementGainLossMember 2018-04-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2018-01-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember dd:AccumulatedDefinedBenefitPlansAdjustmentSettlementGainLossMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember dd:AccumulatedDefinedBenefitPlansAdjustmentSettlementGainLossMember 2019-04-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-01-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2018-01-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-01-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2019-04-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2019-04-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2019-01-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2018-04-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember dd:AccumulatedDefinedBenefitPlansAdjustmentSettlementGainLossMember 2018-01-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2018-04-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2018-01-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:SegmentDiscontinuedOperationsMember 2018-04-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:SegmentDiscontinuedOperationsMember 2018-01-01 2018-06-30 0001755672 2019-05-31 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:SegmentDiscontinuedOperationsMember 2019-01-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:SegmentDiscontinuedOperationsMember 2019-04-01 2019-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:SegmentContinuingOperationsMember 2018-04-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:SegmentContinuingOperationsMember 2019-04-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:SegmentContinuingOperationsMember 2019-04-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:SegmentContinuingOperationsMember 2018-01-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:SegmentContinuingOperationsMember 2019-01-01 2019-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:SegmentContinuingOperationsMember 2018-04-01 2018-06-30 0001755672 us-gaap:PensionPlansDefinedBenefitMember us-gaap:SegmentContinuingOperationsMember 2018-01-01 2018-06-30 0001755672 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember us-gaap:SegmentContinuingOperationsMember 2019-01-01 2019-06-30 0001755672 dd:RestrictedStockUnitsandPerformanceDeferredStockUnitsMember 2019-06-01 0001755672 dd:RestrictedStockUnitsandPerformanceDeferredStockUnitsMember 2019-06-01 2019-06-30 0001755672 dd:RestrictedStockUnitsandPerformanceDeferredStockUnitsMember 2019-06-30 0001755672 us-gaap:EmployeeStockOptionMember 2019-06-30 0001755672 us-gaap:EmployeeStockOptionMember 2019-06-01 2019-06-30 0001755672 us-gaap:EmployeeStockOptionMember 2019-06-01 0001755672 dd:Grantsbetween2016and2018Member us-gaap:EmployeeStockOptionMember dd:EIPMember 2019-01-01 2019-06-30 0001755672 srt:MaximumMember us-gaap:RestrictedStockUnitsRSUMember us-gaap:ManagementMember 2019-01-01 2019-06-30 0001755672 us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-06-30 0001755672 srt:MaximumMember us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-06-30 0001755672 us-gaap:EmployeeStockOptionMember dd:DowMember 2019-01-01 2019-06-30 0001755672 dd:Grantsbetween2013and2015Member us-gaap:EmployeeStockOptionMember dd:EIPMember 2019-01-01 2019-06-30 0001755672 us-gaap:StockOptionMember 2019-01-01 2019-06-30 0001755672 srt:MinimumMember us-gaap:RestrictedStockUnitsRSUMember us-gaap:ManagementMember 2019-01-01 2019-06-30 0001755672 us-gaap:RestrictedStockUnitsRSUMember srt:MinimumMember 2019-01-01 2019-06-30 0001755672 dd:OIPMember 2019-06-30 0001755672 dd:RestrictedStockUnitsandPerformanceDeferredStockUnitsMember 2019-01-01 2019-06-30 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2018-01-01 2018-06-30 0001755672 us-gaap:NondesignatedMember 2019-04-01 2019-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:NondesignatedMember us-gaap:CostOfSalesMember 2018-01-01 2018-06-30 0001755672 us-gaap:NondesignatedMember 2018-01-01 2018-06-30 0001755672 us-gaap:DesignatedAsHedgingInstrumentMember 2018-04-01 2018-06-30 0001755672 us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:NondesignatedMember us-gaap:CostOfSalesMember 2019-04-01 2019-06-30 0001755672 us-gaap:NondesignatedMember 2019-01-01 2019-06-30 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2018-04-01 2018-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2018-01-01 2018-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:NondesignatedMember us-gaap:CostOfSalesMember 2018-04-01 2018-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2018-04-01 2018-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-01-01 2019-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:NondesignatedMember us-gaap:CostOfSalesMember 2019-01-01 2019-06-30 0001755672 us-gaap:DesignatedAsHedgingInstrumentMember 2019-04-01 2019-06-30 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2019-01-01 2019-06-30 0001755672 us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-06-30 0001755672 us-gaap:NondesignatedMember 2018-04-01 2018-06-30 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2019-04-01 2019-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-04-01 2019-06-30 0001755672 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2018-06-30 0001755672 us-gaap:OtherCurrentAssetsMember us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2018-06-30 0001755672 dd:AccruedandOtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2018-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-04-01 2018-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-04-01 2019-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-06-30 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2018-12-31 0001755672 us-gaap:CommodityContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001755672 us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-06-30 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2018-06-30 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2018-06-30 0001755672 us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2018-12-31 0001755672 dd:AccruedandOtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-06-30 0001755672 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-06-30 0001755672 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2018-12-31 0001755672 dd:AccruedandOtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2018-12-31 0001755672 dd:MarketableSecuritiesMember 2019-06-30 0001755672 dd:MarketableSecuritiesMember 2018-12-31 0001755672 dd:MarketableSecuritiesMember 2018-06-30 0001755672 us-gaap:CashEquivalentsMember 2019-06-30 0001755672 us-gaap:CashEquivalentsMember 2018-06-30 0001755672 us-gaap:CashEquivalentsMember 2018-12-31 0001755672 us-gaap:CashFlowHedgingMember 2018-03-31 0001755672 us-gaap:CashFlowHedgingMember 2018-01-01 2018-06-30 0001755672 us-gaap:CashFlowHedgingMember 2019-06-30 0001755672 us-gaap:CashFlowHedgingMember 2019-04-01 2019-06-30 0001755672 us-gaap:CashFlowHedgingMember 2018-12-31 0001755672 us-gaap:CashFlowHedgingMember 2018-04-01 2018-06-30 0001755672 us-gaap:CashFlowHedgingMember 2019-03-31 0001755672 us-gaap:CashFlowHedgingMember 2017-12-31 0001755672 us-gaap:CashFlowHedgingMember 2019-01-01 2019-06-30 0001755672 us-gaap:CashFlowHedgingMember 2018-06-30 0001755672 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001755672 us-gaap:CommodityContractMember 2018-06-30 0001755672 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-06-30 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-06-30 0001755672 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001755672 us-gaap:ForeignExchangeContractMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001755672 us-gaap:MaterialReconcilingItemsMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember us-gaap:MaterialReconcilingItemsMember 2018-01-01 2018-06-30 0001755672 us-gaap:MaterialReconcilingItemsMember 2018-04-01 2018-06-30 0001755672 us-gaap:MaterialReconcilingItemsMember 2018-01-01 2018-06-30 0001755672 us-gaap:MaterialReconcilingItemsMember 2019-04-01 2019-06-30 0001755672 dd:CropProtectionMember 2018-06-30 0001755672 dd:SeedMember 2018-06-30 0001755672 us-gaap:CorporateNonSegmentMember 2019-04-01 2019-06-30 0001755672 us-gaap:CorporateNonSegmentMember 2019-01-01 2019-06-30 0001755672 us-gaap:CorporateNonSegmentMember 2018-04-01 2018-06-30 0001755672 dd:ReallocationofgoodwillMember 2019-06-01 0001755672 us-gaap:CorporateNonSegmentMember 2018-01-01 2018-06-30 0001755672 dd:HedgingProgramMember dd:TaxReformForeignCurrencyExchangeImpactMember us-gaap:CorporateNonSegmentMember 2018-01-01 2018-06-30 0001755672 dd:MergerwithDowMember dd:SeedMember 2019-04-01 2019-06-30 0001755672 dd:MergerwithDowMember dd:SeedMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember 2018-01-01 2018-06-30 0001755672 dd:EIDMember 2018-04-01 2018-06-30 0001755672 dd:EIDMember us-gaap:PensionPlansDefinedBenefitMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember us-gaap:PensionPlansDefinedBenefitMember 2018-01-01 2018-06-30 0001755672 dd:EIDMember us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-04-01 2018-06-30 0001755672 dd:EIDMember us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-01-01 2018-06-30 0001755672 dd:EIDMember us-gaap:PensionPlansDefinedBenefitMember 2018-04-01 2018-06-30 0001755672 dd:EIDMember us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember 2018-12-31 0001755672 dd:EIDMember dd:CortevaMember 2019-06-30 0001755672 dd:EIDMember 2018-06-30 0001755672 dd:EIDMember dd:A3.50SeriesPreferredStockMember 2018-06-30 0001755672 dd:EIDMember dd:A4.50SeriesPreferredStockMember 2018-06-30 0001755672 dd:EIDMember dd:A3.50SeriesPreferredStockMember 2018-12-31 0001755672 dd:EIDMember dd:A4.50SeriesPreferredStockMember 2018-12-31 0001755672 dd:EIDMember dd:TotalcompanyMember 2018-01-01 2018-06-30 0001755672 dd:EIDMember dd:TotalcompanyMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember 2017-12-31 0001755672 dd:EIDMember dd:DivisionalEquityMember 2018-04-01 2018-06-30 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001755672 dd:EIDMember us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2018-06-30 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember us-gaap:PreferredStockMember 2019-06-30 0001755672 dd:EIDMember dd:DivisionalEquityMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember dd:DivisionalEquityMember 2019-01-01 2019-03-31 0001755672 dd:EIDMember 2018-01-01 2018-03-31 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2018-12-31 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2018-04-01 2018-06-30 0001755672 dd:EIDMember us-gaap:RetainedEarningsMember 2018-12-31 0001755672 dd:EIDMember us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001755672 dd:EIDMember us-gaap:RetainedEarningsMember 2019-06-30 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2019-06-30 0001755672 dd:EIDMember us-gaap:CommonStockMember 2017-12-31 0001755672 dd:EIDMember dd:DivisionalEquityMember 2018-01-01 2018-03-31 0001755672 dd:EIDMember us-gaap:RetainedEarningsMember 2018-06-30 0001755672 dd:EIDMember 2018-03-31 0001755672 dd:EIDMember us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2018-01-01 2018-03-31 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2018-03-31 0001755672 dd:EIDMember 2019-03-31 0001755672 dd:EIDMember 2019-01-01 2019-03-31 0001755672 dd:EIDMember us-gaap:CommonStockMember 2019-06-30 0001755672 dd:EIDMember dd:DivisionalEquityMember 2018-03-31 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0001755672 dd:EIDMember us-gaap:TreasuryStockMember 2018-12-31 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001755672 dd:EIDMember us-gaap:CommonStockMember 2018-03-31 0001755672 dd:EIDMember dd:DivisionalEquityMember 2018-12-31 0001755672 dd:EIDMember dd:DivisionalEquityMember 2017-12-31 0001755672 dd:EIDMember us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0001755672 dd:EIDMember us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember us-gaap:CommonStockMember 2018-06-30 0001755672 dd:EIDMember us-gaap:RetainedEarningsMember 2019-03-31 0001755672 dd:EIDMember us-gaap:TreasuryStockMember 2017-12-31 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-04-01 2018-06-30 0001755672 dd:EIDMember us-gaap:PreferredStockMember 2018-12-31 0001755672 dd:EIDMember us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001755672 dd:EIDMember us-gaap:TreasuryStockMember 2019-06-30 0001755672 dd:EIDMember us-gaap:TreasuryStockMember 2018-03-31 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2017-12-31 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2019-03-31 0001755672 dd:EIDMember us-gaap:CommonStockMember 2018-12-31 0001755672 dd:EIDMember us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0001755672 dd:EIDMember us-gaap:PreferredStockMember 2018-06-30 0001755672 dd:EIDMember us-gaap:PreferredStockMember 2018-03-31 0001755672 dd:EIDMember us-gaap:PreferredStockMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001755672 dd:EIDMember us-gaap:TreasuryStockMember 2019-03-31 0001755672 dd:EIDMember us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001755672 dd:EIDMember us-gaap:PreferredStockMember 2019-03-31 0001755672 dd:EIDMember us-gaap:RetainedEarningsMember 2018-03-31 0001755672 dd:EIDMember dd:DivisionalEquityMember 2019-03-31 0001755672 dd:EIDMember us-gaap:RetainedEarningsMember 2017-12-31 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001755672 dd:EIDMember dd:DivisionalEquityMember 2019-06-30 0001755672 dd:EIDMember us-gaap:CommonStockMember 2019-03-31 0001755672 dd:EIDMember dd:DivisionalEquityMember 2018-06-30 0001755672 dd:EIDMember us-gaap:PreferredStockMember 2017-12-31 0001755672 dd:EIDMember us-gaap:TreasuryStockMember 2018-06-30 0001755672 dd:EIDMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0001755672 dd:EIDMember dd:A4.50SeriesPreferredStockMember 2018-04-01 2018-06-30 0001755672 dd:EIDMember dd:A3.50SeriesPreferredStockMember 2019-01-01 2019-03-31 0001755672 dd:EIDMember dd:A3.50SeriesPreferredStockMember 2018-01-01 2018-03-31 0001755672 dd:EIDMember dd:A4.50SeriesPreferredStockMember 2019-01-01 2019-03-31 0001755672 dd:EIDMember dd:A3.50SeriesPreferredStockMember 2018-04-01 2018-06-30 0001755672 dd:EIDMember dd:A4.50SeriesPreferredStockMember 2018-01-01 2018-03-31 0001755672 dd:EIDMember dd:A3.50SeriesPreferredStockMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember dd:A4.50SeriesPreferredStockMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember us-gaap:OtherNoncurrentLiabilitiesMember dd:CortevaMember 2019-06-30 0001755672 dd:EIDMember dd:AccruedandOtherCurrentLiabilitiesMember dd:CortevaMember 2019-06-30 0001755672 dd:EIDMember dd:CortevaMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember dd:CortevaMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember us-gaap:MaterialReconcilingItemsMember 2019-04-01 2019-06-30 0001755672 dd:EIDMember us-gaap:MaterialReconcilingItemsMember 2019-01-01 2019-06-30 0001755672 dd:EIDMember us-gaap:MaterialReconcilingItemsMember 2018-04-01 2018-06-30 xbrli:pure utreg:Y iso4217:USD xbrli:shares iso4217:USD xbrli:shares dd:lawsuits

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549  
FORM  10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2019
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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.)
974 Centre Road,
Wilmington,
Delaware
19805
 
(302)
485-3000
 
(Address of Principal Executive Offices) (Zip Code)
 
(Registrant’s Telephone Number, including area code)
Commission File Number 1-815
E. I. du Pont de Nemours and Company
(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.)
974 Centre Road,
Wilmington,
Delaware
19805
 
(302)
485-3000
 
(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 E. I. du Pont de Nemours and Company:
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

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
E. I. du Pont de Nemours and Company                          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 such files.)  
Corteva, Inc.                                       Yes    x    No   o
E. I. du Pont de Nemours and Company                           Yes    x    No   o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.  See definitions 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
 
 
 
 
 
 
 
 
E. I. du Pont de Nemours and Company
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.                                                 
E. I. du Pont de Nemours and Company                                   Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). 
Corteva, Inc.                                          Yes      No   x
E. I. du Pont de Nemours and Company                          Yes      No   x

Corteva, Inc. had 748,893,017 shares of common stock, par value $0.01 per share, outstanding at July 26, 2019 .
E. I. du Pont de Nemours and Company had 200 shares of common stock, par value $0.30 per share, outstanding at July 26, 2019 , all of which are held by Corteva, Inc.    

E. I. du Pont de Nemours and Company meets the conditions set forth in General Instruction H(1)(a) and (b) of Form 10-Q (as modified by a grant of no-action relief dated February 12, 2018) and is therefore filing this form with reduced disclosure format.



CORTEVA, INC.
E. I. DU PONT DE NEMOURS AND COMPANY

Table of Contents
 
 
Page
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


1


Explanatory Note

Throughout this Quarterly Report on Form 10-Q, except as otherwise noted by the context, the terms "Corteva" or "company" used herein mean Corteva, Inc. and its consolidated subsidiaries (including EID) and the term “EID” used herein means E. I. du Pont de Nemours and Company and its consolidated subsidiaries or E. I. du Pont de Nemours and Company excluding its consolidated subsidiaries, as the context may indicate. Additionally, on June 1, 2019, DowDuPont Inc. changed its registered name to DuPont de Nemours, Inc. (“DuPont”), for certain events prior to, or on, June 1, 2019, DuPont may be referred to as DowDuPont. Beginning on June 3, 2019, the Company's common stock is traded on the New York Stock Exchange under the ticker symbol "CTVA". 

This Quarterly Report on Form 10-Q is a combined report being filed separately by Corteva, Inc. and EID.  Corteva, Inc. owns all of the common equity interests in EID.  The information in this Quarterly Report on Form 10-Q is equally applicable to Corteva, Inc. and EID, except where otherwise indicated.

The separate EID financial statements and footnotes for areas that differ from Corteva, are included within this Quarterly Report on Form 10-Q and begin on page 91. Footnotes of EID that are identical to that of Corteva are cross-referenced accordingly.

Background

On June 1, 2019, Corteva, Inc. became an independent, publicly traded company through the previously announced 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 of all of the then-issued and outstanding shares of common stock, par value $0.01 per share, of Corteva, Inc., which was then a wholly-owned subsidiary of DowDuPont, to holders of record of DowDuPont common stock as of the close of business on May 24, 2019. In connection with the Separation, DowDuPont Inc. changed its name to DuPont de Nemours, Inc.

Previously, DowDuPont was formed on December 9, 2015, to effect an all-stock merger of equals strategic combination between The Dow Chemical Company ("Historical Dow") and EID. On August 31, 2017 at 11:59 pm ET, Historical Dow and EID each merged with wholly-owned subsidiaries of DowDuPont and became subsidiaries of DowDuPont. Subsequent to the merger, Historical Dow and EID engaged in a series of internal reorganization and realignment steps to realign their businesses into three divisions: agriculture, materials science and specialty products. As a result of the Internal Reorganization (defined in Note 1 - Background and Basis of Presentation , to the interim consolidated financial statements), on May 31, 2019, EID was contributed to Corteva, Inc. and, as a result, Corteva, Inc. owns 100% of the outstanding common stock of EID. 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.

EID continues to be a reporting company and is deemed to be the predecessor to Corteva, Inc., with the historical results of EID to be deemed the historical results of Corteva for periods prior to and including May 31, 2019. Shares of EID 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.


2


PART I.  FINANCIAL INFORMATION  

Item 1.
CONSOLIDATED FINANCIAL STATEMENTS

Corteva, Inc.
Consolidated Statements of Operations (Unaudited)
(In millions, except per share amounts)
Three Months Ended
June 30,
Six Months Ended
June 30,
 
2019
2018
2019
2018
Net sales
$
5,556

$
5,731

$
8,952

$
9,525

Cost of goods sold
3,047

3,687

5,258

6,439

Research and development expense
269

354

568

685

Selling, general and administrative expenses
937

965

1,672

1,714

Amortization of intangibles
113

107

214

196

Restructuring and asset related charges - net
60

101

121

231

Integration and separation costs
330

249

542

444

Other income - net

128

31

111

Loss on early extinguishment of debt
13


13


Interest expense
34

88

93

169

Income (loss) from continuing operations before income taxes
753

308

502

(242
)
Provision for (benefit from) income taxes on continuing operations
270

(67
)
203

(179
)
Income (loss) from continuing operations after income taxes
483

375

299

(63
)
(Loss) income from discontinued operations after income taxes
(1,077
)
323

(717
)
674

Net (loss) income
(594
)
698

(418
)
611

Net income attributable to noncontrolling interests
14

4

26

24

Net (loss) income attributable to Corteva
$
(608
)
$
694

$
(444
)
$
587

Basic (loss) earnings per share of common stock 1 :
 
 
 
 
Basic earnings (loss) per share of common stock from continuing operations
$
0.63

$
0.49

$
0.37

$
(0.11
)
Basic (loss) earnings per share of common stock from discontinued operations
(1.44
)
0.43

(0.96
)
0.89

Basic (loss) earnings per share of common stock
$
(0.81
)
$
0.92

$
(0.59
)
$
0.78

Diluted (loss) earnings per share of common stock 1 :
 
 
 
 
Diluted earnings (loss) per share of common stock from continuing operations
$
0.63

$
0.49

$
0.37

$
(0.11
)
Diluted (loss) earnings per share of common stock from discontinued operations
(1.44
)
0.43

(0.96
)
0.89

Diluted (loss) earnings per share of common stock
$
(0.81
)
$
0.92

$
(0.59
)
$
0.78

1. Refer to Note 11 - Earnings Per Share of Common Stock , for information regarding the calculation of basic and diluted earnings per share.



See Notes to the Consolidated Financial Statements beginning on page 8.


3


Corteva, Inc.
Consolidated Statements of Comprehensive Loss (Unaudited)
(In millions)
Three Months Ended
June 30,
Six Months Ended
June 30,
 
2019
2018
2019
2018
Net (loss) income
$
(594
)
$
698

$
(418
)
$
611

Other comprehensive loss - net of tax:
 
 
 
 
Cumulative translation adjustments
(102
)
(2,001
)
(174
)
(1,011
)
Adjustments to pension benefit plans
11

2

8

8

Adjustments to other benefit plans
(86
)

(86
)

Derivative instruments
22

(16
)
23

(5
)
Total other comprehensive loss
(155
)
(2,015
)
(229
)
(1,008
)
Comprehensive loss
(749
)
(1,317
)
(647
)
(397
)
Comprehensive income attributable to noncontrolling interests - net of tax
14

4

26

24

Comprehensive loss attributable to Corteva
$
(763
)
$
(1,321
)
$
(673
)
$
(421
)

See Notes to the Consolidated Financial Statements beginning on page 8.


4


Corteva, Inc.
Condensed Consolidated Balance Sheets (Unaudited)
(In millions, except share amounts)
June 30, 2019
December 31, 2018
June 30, 2018
Assets
 

 

 
Current assets
 

 

 
Cash and cash equivalents
$
2,077

$
2,270

$
2,696

Marketable securities
6

5

49

Accounts and notes receivable - net
7,434

5,260

7,331

Inventories
3,918

5,310

4,362

Other current assets
1,086

1,038

1,181

Assets of discontinued operations - current

9,089

9,022

Total current assets
14,521

22,972

24,641

Investment in nonconsolidated affiliates
64

138

195

Property, plant and equipment - net of accumulated depreciation (June 30, 2019 - $3,207; December 31, 2018 - $2,796; June 30, 2018 - $2,598)
4,543

4,544

4,463

Goodwill
10,249

10,193

14,612

Other intangible assets
11,832

12,055

12,318

Deferred income taxes
325

304

419

Other assets
2,464

1,932

1,909

Assets of discontinued operations - non-current

56,545

57,572

Total Assets
$
43,998

$
108,683

$
116,129

Liabilities and Equity
 

 

 
Current liabilities
 

 

 
Short-term borrowings and finance lease obligations
$
2,058

$
2,154

$
3,715

Accounts payable
3,139

3,798

3,629

Income taxes payable
282

186

249

Accrued and other current liabilities
3,135

4,005

2,689

Liabilities of discontinued operations - current

3,167

2,767

Total current liabilities
8,614

13,310

13,049

Long-Term Debt
117

5,784

9,736

Other Noncurrent Liabilities
 
 
 
Deferred income tax liabilities
1,430

1,480

1,387

Pension and other post employment benefits - noncurrent
5,538

5,677

6,474

Other noncurrent obligations
2,156

1,795

1,960

Liabilities of discontinued operations - non-current

5,484

5,820

Total noncurrent liabilities
9,241

20,220

25,377

Commitments and contingent liabilities
 
 
 
Stockholders’ equity
 

 

 
Common stock, $0.01 par value; 1,666,666,667 shares authorized;
issued at June 30, 2019, December 31, 2018, and June 30, 2018 - 748,815,000
7



Additional paid-in capital
28,157



Divisional equity

78,020

79,390

Retained earnings
97



Accumulated other comprehensive loss
(2,375
)
(3,360
)
(2,185
)
Total Corteva stockholders’ equity
25,886

74,660

77,205

Noncontrolling interests
257

493

498

Total equity
26,143

75,153

77,703

Total Liabilities and Equity
$
43,998

$
108,683

$
116,129

See Notes to the Consolidated Financial Statements beginning on page 8.

5


Corteva, Inc.
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Six Months Ended
June 30,
 
2019
2018
Operating activities
 
 
Net (loss) income
$
(418
)
$
611

Adjustments to reconcile net (loss) income to cash used for operating activities:




Depreciation and amortization
1,084

1,410

Benefit from deferred income tax
(473
)
(87
)
Net periodic pension benefit
(146
)
(162
)
Pension contributions
(92
)
(123
)
Net gain on sales of property, businesses, consolidated companies, and investments
(67
)
(36
)
Restructuring and asset related charges - net
238

317

Amortization of inventory step-up
257

1,385

Goodwill impairment charge
1,102


Loss on early extinguishment of debt
13


Other net loss
172

236

Changes in operating assets and liabilities - net
(2,758
)
(5,141
)
Cash used for operating activities
(1,088
)
(1,590
)
Investing activities
 

 
Capital expenditures
(834
)
(668
)
Proceeds from sales of property, businesses, and consolidated companies - net of cash divested
125

85

Acquisitions of businesses - net of cash acquired
(9
)

Proceeds from sales of ownership interests in nonconsolidated affiliates
21


Purchases of investments
(13
)
(991
)
Proceeds from sales and maturities of investments
37

1,576

Other investing activities - net
(1
)

Cash (used for) provided by investing activities
(674
)
2

Financing activities
 

 
Change in short-term (less than 90 days) borrowings
173

455

Proceeds from issuance of long-term debt
1,001

254

Payments on long-term debt
(6,803
)
(274
)
Proceeds from exercise of stock options
39

57

Distributions to Dow and DowDuPont
(317
)
(1,658
)
Cash transferred to DowDuPont at Internal Reorganizations
(2,053
)

Contributions from Dow and DowDuPont
7,396

23

Debt extinguishment costs
(79
)

Other financing activities
(42
)
(69
)
Cash used for financing activities
(685
)
(1,212
)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(64
)
(103
)
Decrease in cash, cash equivalents and restricted cash
(2,511
)
(2,903
)
Cash, cash equivalents and restricted cash at beginning of period
5,024

7,914

Cash, cash equivalents and restricted cash at end of period 1
$
2,513

$
5,011

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

See Notes to the Consolidated Financial Statements beginning on page 8.

6


Corteva, Inc.
Consolidated Statements of Equity (Unaudited)
(In millions)
Common Stock
Additional Paid-in Capital
Divisional Equity
Retained Earnings
Accumulated Other Comp (Loss) Income
Treasury Stock
Non-controlling Interests
Total Equity
2018
 
 
 
 
 
 
 
 
Balance at January 1, 2018
$

$

$
80,318

$

$
(1,177
)
$

$
452

$
79,593

Net (loss) income




(107
)






20

(87
)
Other comprehensive income








1,007





1,007

Distributions to Dow and DowDuPont




(830
)








(830
)
Issuance of DowDuPont stock




45









45

Share-based compensation




11









11

Other




434







53

487

Balance at March 31, 2018
$

$

$
79,871

$

$
(170
)
$

$
525

$
80,226

Net income



694





4

698

Other comprehensive loss







(2,015
)


(2,015
)
Distributions to Dow and DowDuPont



(828
)





(828
)
Issuance of DowDuPont stock



12






12

Share-based compensation



50






50

Other



(409
)




(31
)
(440
)
Balance at June 30, 2018
$

$

$
79,390

$

$
(2,185
)
$

$
498

$
77,703


 
 
 
 
 
 
 


2019
 
 
 
 
 
 
 


Balance at January 1, 2019
$

$

$
78,020

$

$
(3,360
)
$

$
493

$
75,153

Net income




164







12

176

Other comprehensive loss








(74
)




(74
)
Distributions to Dow and DowDuPont
 
 
(317
)
 
 
 


(317
)
Issuance of DowDuPont stock
 
 
35

 
 
 
 
35

Share-based compensation




18








18

Contributions from Dow and DowDuPont




88









88

Other




(3
)






(2
)
(5
)
Balance at March 31, 2019
$

$

$
78,005

$

$
(3,434
)
$

$
503

$
75,074

Net (loss) income




(805
)
197





14

(594
)
Other comprehensive loss








(155
)




(155
)
Common dividends ($0.13 per share)
 
 
 
(97
)
 
 


(97
)
Contributions from DowDuPont
 
 
7,308

 
 
 
 
7,308

Issuance of DowDuPont stock
 
 
4

 
 
 
 
4

Share-based compensation


11

44









55

Impact of Internal Reorganizations




(56,403
)


1,214



(231
)
(55,420
)
Reclassification of Divisional Equity to APIC 1
7

28,146

(28,153
)









Other






(3
)




(29
)
(32
)
Balance at June 30, 2019
$
7

$
28,157

$

$
97

$
(2,375
)
$

$
257

$
26,143

1.  
Upon the completion of the Internal Reorganizations, Corteva's capital structure was established and Corteva's divisional equity was reclassified .

See Notes to the Consolidated Financial Statements beginning on page 8.



7

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


 
Corteva, Inc.
 
 
Notes to the Consolidated Financial Statements (Unaudited)
 


Table of Contents

Note
 
Page




8

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


NOTE 1 - BACKGROUND AND BASIS OF PRESENTATION

Corteva, Inc. combines the strengths of EID’s Pioneer, Dow AgroSciences ("DAS"), and EID’s Crop Protection businesses to create a leading global provider of seed and crop protection solutions focused on the agriculture industry. The company intends to leverage its rich heritage of over 275 years 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 in more than 140 countries. Corteva has two reportable segments: Seed and Crop Protection. See Note 24 - Segment Information, for additional information on the company's reportable segments.

Throughout this Quarterly Report on Form 10-Q, except as otherwise noted by the context, the terms "Corteva" or "company" used herein mean Corteva, Inc. and its consolidated subsidiaries (including EID) and the term “EID” used herein means E. I. du Pont de Nemours and Company and its consolidated subsidiaries or E. I. du Pont de Nemours and Company excluding its consolidated subsidiaries, as the context may indicate. Additionally, on June 1, 2019, DowDuPont Inc. changed its registered name to DuPont de Nemours, Inc. (“DuPont”), for certain events prior to, or on, June 1, 2019, DuPont may be referred to as DowDuPont.

Principles of Consolidation and Basis of Presentation
On June 1, 2019, Corteva, Inc. became an independent, publicly traded company through the previously announced 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, par value $0.01 per share, of Corteva, Inc., which was then a wholly-owned subsidiary of DowDuPont, to holders of record of DowDuPont common stock as of the close of business on May 24, 2019.

Previously, DowDuPont was formed on December 9, 2015, to effect an all-stock merger of equals strategic combination between The Dow Chemical Company ("Historical Dow") and EID. On August 31, 2017 at 11:59 pm ET (the “Merger Effectiveness Time”) pursuant to the Agreement and Plan of Merger, dated as of December 11, 2015, as amended March 31, 2017 (the "Merger Agreement"), Historical Dow and Historical EID each merged with wholly-owned subsidiaries of DowDuPont and became subsidiaries of DowDuPont (the “Merger”). Prior to the Merger, DowDuPont did not conduct any business activities other than those required for its formation and matters contemplated by the Merger Agreement.

Subsequent to the Merger, Historical Dow and Historical EID engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups: agriculture, materials science and specialty products through a series of tax-efficient transactions (collectively, the "Business Separations”). Effective as of 5:00 pm ET on April 1, 2019, DowDuPont completed the previously announced separation of its materials science business into a separate and independent public company by way of a distribution of Dow Inc. (“Dow”) through a pro rata dividend in-kind of all of the then-issued and outstanding shares of Dow’s common stock, par value $0.01 per share, to holders of DowDuPont's common stock (the “DowDuPont Common Stock”), as of the close of business on March 21, 2019 (the “Dow Distribution” and together with the Corteva Distribution, the “Distributions”).

Prior to the Dow Distribution, Historical Dow conveyed or transferred the assets and liabilities aligned with Historical Dow’s agriculture business to separate legal entities (“Dow Ag Entities”) and the assets and liabilities associated with its specialty products business to separate legal entities (the “Dow SP Entities”). On April 1, 2019, Dow Ag Entities and the Dow SP Entities were transferred and conveyed to DowDuPont.

In furtherance of the Business Separations, EID engaged in a series of internal reorganization and realignment steps (the “Internal Reorganization” and the "Business Realignment," respectively) to realign its businesses into three subgroups: agriculture, materials science and specialty products. As part of the Internal Reorganization:

the assets and liabilities aligned with EID’s materials science business, including EID’s ethylene and ethylene copolymers business, excluding its ethylene acrylic elastomers business, (“EID ECP”) were transferred or conveyed to separate legal entities (the “Materials Science Entities”) that were ultimately conveyed by DowDuPont to Dow;

the assets and liabilities aligned with the EID’s specialty products business were transferred or conveyed to separate legal entities (“EID Specialty Products Entities”);

on April 1, 2019, EID transferred and conveyed its Materials Science Entities to Dow;

on May 1, 2019, EID distributed its Specialty Products Entities to DowDuPont; and


9

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


on May 2, 2019, DowDuPont conveyed Dow Ag Entities to EID and in connection with the foregoing, EID issued additional shares of its Common Stock to DowDuPont.

on May 31, 2019, DowDuPont contributed EID to Corteva, Inc.

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., a wholly-owned subsidiary of DowDuPont, to DowDuPont stockholders. On June 1, 2019, DowDuPont completed the Separation. Each DowDuPont stockholder received one share of Corteva common stock for every three shares of DowDuPont common stock held at the close of business on May 24, 2019 , the record date of distribution. Corteva, Inc.'s common stock began trading the "regular way" under the ticker symbol "CTVA" on June 3, 2019 , the first business day after June 1, 2019. Upon becoming an independent company, the capital structure of Corteva consisted of  748,815,000  authorized shares of common stock (par value of $0.01 per share), which represents the number of common shares issued on June 3, 2019 . Information related to the Corteva Distribution and its effect on the company's financial statements is discussed throughout these Notes to the interim Consolidated Financial Statements.

As a result of the Business Realignment and the Internal Reorganization discussed above, Corteva owns, directly or indirectly, 100% of the outstanding common stock of EID, and EID owns, directly or indirectly, 100% of DAS. EID 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.

Certain reclassifications of prior year's data have been made to conform to current year's presentation.

DAS Common Control Combination
The transfer or conveyance of DAS to Corteva was treated as a transfer of entities under common control. As such, the company recorded the assets, liabilities, and equity of DAS on its balance sheet at their historical basis. Transfers of businesses between entities under common control requires the financial statements to be presented as if the transaction had occurred at the point at which common control first existed (the Merger Effectiveness Time). As a result, the accompanying interim Consolidated Financial Statements and Notes thereto include the results of DAS as of the Merger Effectiveness Time. See Note 4 - Common Control Business Combination, for additional information.

Divestiture of EID ECP
The transfer of EID ECP meets the criteria for discontinued operations and as such, results of operations are presented as discontinued operations and have been excluded from continuing operations for all periods presented. The comprehensive income, stockholder's equity and cash flows related to EID ECP have not been segregated and are included in the interim Consolidated Statements of Comprehensive Income, interim Consolidated Statements of Equity and interim Condensed Consolidated Statements of Cash Flows, respectively, for all periods presented. Amounts related to EID ECP are consistently included or excluded from the Notes to the interim Consolidated Financial Statements based on the respective financial statement line item. See Note 5 - Divestitures and Other Transactions, for additional information.

Divestiture of EID Specialty Products Entities
The transfer of the EID Specialty Products Entities meets the criteria for discontinued operations and as such, results of operations are presented as discontinued operations and have been excluded from continuing operations for all periods presented. The comprehensive income, stockholder's equity and cash flows related to the EID Specialty Products Entities have not been segregated and are included in the interim Consolidated Statements of Comprehensive Income, interim Consolidated Statements of Equity and interim Condensed Consolidated Statements of Cash Flows, respectively, for all periods presented. Amounts related to the EID Special Products Entities are consistently included or excluded from the Notes to the interim Consolidated Financial Statements based on the respective financial statement line item. See Note 5 - Divestitures and Other Transactions, for additional information.

Divested EID Ag Business
As a condition of the regulatory approval for the Merger, including by the European Commission, EID was required to divest (the “Divested Ag Business”) certain assets related to its crop protection business and research and development ("R&D") organization, specifically EID’s Cereal Broadleaf Herbicides and Chewing Insecticides portfolios, including Rynaxypyr®, Cyazypyr® and Indoxacarb as well as the crop protection R&D pipeline and organization, excluding seed treatment, nematicides, and late-stage R&D programs. On March 31, 2017, EID and FMC Corporation (“FMC”) entered into a definitive agreement (the "FMC Transaction Agreement"). On November 1, 2017, FMC acquired the Divested Ag Business and EID acquired certain assets relating to FMC’s Health and Nutrition segment, excluding its Omega-3 products (the "H&N Business") (collectively, the "FMC Transactions").


10

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


The sale of the Divested Ag Business met the criteria for discontinued operations and as such, results of operations are presented as discontinued operations and have been excluded from continuing operations for all periods presented. See Note 5 - Divestitures and Other Transactions, for additional information.

Interim Financial Statements
The accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X.  In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the results for interim periods have been included.  Results for interim periods should not be considered indicative of results for a full year.  These unaudited interim Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and Notes thereto contained in the company’s Information Statement included in its Registration Statement on Form 10, as amended, filed with the SEC on May 6, 2019 ("Form 10").  The interim Consolidated Financial Statements include the accounts of the company and all of its subsidiaries in which a controlling interest is maintained.

Prior to the Corteva Distribution, these combined financial statements were derived from the consolidated financial statements and accounting records of EID as well as the carve-out financial statements of DAS. The DAS carve-out financial statements reflect the historical results of operations, financial position, and cash flows of Historical Dow's Agricultural Sciences Business and include allocations of certain expenses for services from Historical Dow, including, but not limited to, general corporate expenses related to finance, legal, information technology, human resources, ethics and compliance, shared services, employee benefits and incentives, insurance, and stock-based compensation. These expenses were allocated on the basis of direct usage when identifiable, with the remainder allocated under the basis of headcount or other measure. Subsequent to the Corteva Distribution, the financial statements are presented on a consolidated basis.

The company's interim Consolidated Balance Sheet at June 30, 2019 consists of the consolidated balances subsequent to the Corteva Distribution. The balances reflect the assets and liabilities that were historically included in the EID statements, as well as assets and liabilities transferred to the company as part of the common control combination acquisition of DAS. The company's Consolidated Balance Sheets at December 31, 2018 and June 30, 2018 consist of the combined balances of Historical EID and DAS. The Balance Sheets will be referred to as the "Condensed Consolidated Balance Sheets" or the "interim Condensed Consolidated Balance Sheets" throughout this document.

The company's Statements of Operations (the "Consolidated Statements of Operations" or the "interim Consolidated Statements of Operations") for all periods prior to April 30, 2019 consist of the combined results of operations for Historical EID and DAS. The interim Consolidated Statements of Operations for all periods after May 2, 2019 represent the consolidated balances of the company.

All intercompany transactions have been eliminated.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Significant Accounting Policies
The below reflects significant accounting policies that have been updated since the issuance of the company's Form 10. See Note 1 - "Summary of Significant Accounting Policies," within Exhibit 99.2 of Amendment 2 to the Form 10 for more information on the company's other significant accounting policies.

Inventories
As of  June 30, 2019 , approximately  46 percent and  54 percent of the company's inventories were accounted for under the first-in, first-out ("FIFO") and average cost methods, respectively. As of  December 31, 2018 , approximately  57 percent and  43 percent of the company's inventories were accounted for under the FIFO and average cost methods, respectively. As of  June 30, 2018 , approximately  45 percent and  55 percent  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 13 - Inventories, for further information.


11

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


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 lease payments 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 16 - Leases, for further information.

Segments
As a result of the Internal Reorganizations and Business Realignments, the company changed its reportable segments to Seed and Crop Protection to reflect the manner in which the company's chief operating decision maker assesses performance and allocates resources.  Effective with the Corteva Distribution, the company also updated its reporting units to align with the level at which discrete financial information is available for review by management.

Prior year's segment information has been revised to conform to the current presentation. See Note 24 - Segment Information, for further information.

NOTE 3 - RECENT ACCOUNTING GUIDANCE

Recently Adopted Accounting Guidance
In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), and associated ASUs related to Topic 842, which requires organizations that lease assets to recognize on their balance sheet the assets and liabilities for the rights and obligations created by those leases. The new guidance requires that a lessee recognize assets and liabilities for leases, and recognition, presentation and measurement in the financial statements will depend on its classification as a finance or operating lease. In addition, the new guidance requires disclosures to help investors and other financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. Lessor accounting remains largely unchanged from previous U.S. GAAP but does contain some targeted improvements to align with the new revenue recognition guidance issued in 2014 (Topic 606).

The company adopted this standard in the first quarter of 2019, which allows for a modified retrospective transition approach, applying the new standard to all leases existing at the date of initial adoption. An entity may choose to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the financial statement as its date of initial application. The company has elected to apply the transition requirements at the January 1, 2019 effective date rather than at the beginning of the earliest comparative period presented. This approach allows for a cumulative effect adjustment in the period of adoption, and prior periods are not restated and continue to be reported in accordance with historic accounting under ASC 840 (Leases). In addition, the company has elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, does not require reassessment of prior conclusions related to contracts containing a lease, lease classification, and initial direct lease costs. As an accounting policy election, the company chose to not apply the standard to certain existing land easements, excluded short-term leases (term of 12 months or less) from the balance sheet and will account for nonlease and lease components in a contract as a single component for all asset classes. See Note 16 - Leases, for additional information.


12

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


The following table summarizes the impact of adoption to the company’s Consolidated Balance Sheet:

(In millions, except per share amounts)
As Reported
December 31, 2018 1
Effect of Adoption of ASU 2016-02
Updated
January 1, 2019
Assets
 
 
 
Property, plant and equipment - net of accumulated depreciation
$
4,544

$
9

$
4,553

Other assets
$
1,932

$
546

$
2,478

Assets of discontinued operations - non-current
$
56,545

$
461

$
57,006

 
 
 
 
Liabilities and Equity
 
 
 
Current liabilities
 
 
 
Short-term borrowings and finance lease obligations
$
2,154

$
1

$
2,155

Accrued and other current liabilities
$
4,005

$
143

$
4,148

Liabilities of discontinued operations - current
$
3,167

$
141

$
3,308

 
 
 
 
Long-Term Debt
$
5,784

$
8

$
5,792

Other noncurrent obligations
$
1,795

$
403

$
2,198

Liabilities of discontinued operations - non-current
$
5,484

$
320

$
5,804

1.
Includes adjustments for discontinued operations and common control business combination.

The adoption of the new guidance did not have a material impact on the company's Consolidated Statement of Operations and had no impact on the Consolidated Statement of Cash Flows.

Accounting Guidance Issued But Not Adopted as of June 30, 2019
In June 2016, the FASB issued ASU 2016-13, Financial Instruments (Topic 326): Credit Losses - Measurement of Credit Losses on Financial Statements, which requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. The amortized cost basis of financial assets should be reduced by expected credit losses to present the net carrying value in the financial statements at the amount expected to be collected. The measurement of expected credit losses is based on past events, historical experience, current conditions and forecasts that affect the collectability of the financial assets. Additionally, credit losses relating to available-for-sale debt securities should be recorded through an allowance for credit losses. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for fiscal years beginning January 1, 2019. In April and May 2019, the FASB subsequently issued ASU 2019-04 and ASU 2019-05, respectively, which contained updates to ASU 2016-13. The company is currently evaluating the impact of adopting this guidance.

NOTE 4 - COMMON CONTROL BUSINESS COMBINATION

DAS Common Control Combination
Based on an evaluation of the provisions of ASC 805 (Business Combinations), Corteva and DAS represent entities under common control, as both shared DowDuPont as their parent company. As a result, the assets, liabilities and operations of Corteva and DAS are combined at their historical carrying amounts, and all historical periods are adjusted as if Corteva and DAS had been combined since the Merger Effectiveness Time, when the entities were first under common control. Accordingly, the accompanying Consolidated Financial Statements and Notes thereto have been retrospectively revised to include the transferred net assets and results of operations of DAS beginning on September 1, 2017. Refer to Note 1 - Background and Basis of Presentation, for additional information on the common control combination.


13

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


The following table summarizes the final recording of assets and liabilities of DAS at their respective carrying values as of September 1, 2017:

(In millions)
September 1, 2017
Cash and cash equivalents
$
98

Accounts and notes receivable - net
1,377

Inventories
2,133

Other current assets
130

Investments in nonconsolidated affiliates
50

Property, plant and equipment - net
1,555

Goodwill
1,472

Other intangible assets
130

Deferred income taxes
230

Other assets
97

Short-term borrowings and finance lease obligations
6

Accounts payable
1,414

Income taxes payable
103

Accrued and other current liabilities
482

Long-term debt
27

Deferred income tax liabilities
66

Pension and other post employment benefits - noncurrent
126

Other noncurrent obligations
170



The following table provides supplemental results of EID and DAS for the three and six months ended June 30, 2018 and the three months ended March 31, 2019.

 
Three Months Ended June 30, 2018
(In millions)
Historical EID
Discontinued Operations and Other Adjustments 1
DAS
Corteva
Net Sales
$
8,545

$
(4,522
)
$
1,708

$
5,731

Income (loss) from continuing operations before income taxes
$
655

$
(587
)
$
240

$
308

Income (loss) from continuing operations after income taxes
$
514

$
(310
)
$
171

$
375


 
Six Months Ended June 30, 2018
(In millions)
Historical EID
Discontinued Operations and Other Adjustments 1
DAS
Corteva
Net Sales
$
15,244

$
(8,910
)
$
3,191

$
9,525

Income (loss) from continuing operations before income taxes
$
466

$
(1,133
)
$
425

$
(242
)
Income (loss) from continuing operations after income taxes
$
298

$
(665
)
$
304

$
(63
)

14

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


 
Three Months Ended March 31, 2019
(In millions)
Historical EID
Discontinued Operations and Other Adjustments 1
DAS
Corteva
Net Sales
$
6,288

$
(4,341
)
$
1,449

$
3,396

Income (loss) from continuing operations before income taxes
$
49

$
(476
)
$
176

$
(251
)
Income (loss) from continuing operations after income taxes
$
89

$
(369
)
$
96

$
(184
)
1.
Reflects discontinued operations of EID's ECP and Specialty Products businesses and adjustments primarily related to the elimination of intercompany transactions between Historical EID and Dow AgroSciences for periods subsequent to the Merger, as if they were combined affiliates.

Intercompany balances and transactions with DAS have been eliminated.

NOTE 5 - DIVESTITURES AND OTHER TRANSACTIONS

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 (collectively, the "Separation Agreements"). The Parties entered into, among other agreements, the following agreements:

Separation and Distribution Agreement - Effective April 1, 2019, the Parties entered into an agreement that sets forth, among other things, the agreements among the Parties regarding the principal transactions necessary to effect the Distributions. It also sets forth other 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 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.

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 and Distribution Agreement.

Letter Agreement - 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. 


15

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


DuPont
Pursuant to the Separation Agreements, DuPont and Corteva indemnifies the other against certain litigation, environmental, tax, workers' compensation and other liabilities that arose prior to the Corteva Distribution. 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. At June 30, 2019, the indemnification assets are $68 million within accounts and notes receivable - net and $58 million within other assets in the interim Condensed Consolidated Balance Sheet. At June 30, 2019, the indemnification liabilities are $18 million within accrued and other current liabilities and $71 million within other noncurrent obligations in the interim Condensed Consolidated Balance Sheet.

Dow
Pursuant to the Separation Agreements, Dow and Corteva indemnifies the other against certain litigation, environmental, tax and other liabilities that arose prior to the Corteva Distribution. 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. At June 30, 2019, the indemnification assets are $41 million within accounts and notes receivable - net and $27 million within other assets in the interim Condensed Consolidated Balance Sheet. At June 30, 2019, the indemnification liabilities are $70 million within accrued and other current liabilities and $109 million within other noncurrent obligations in the interim Condensed Consolidated Balance Sheet.

EID ECP Divestiture
As discussed in Note 1 - Background and Basis of Presentation, on April 1, 2019 , EID completed the transfer of the entities and related assets and liabilities of EID ECP to Dow.

As a result, the financial results of EID ECP are reflected as discontinued operations, as summarized below:
 
Three Months Ended June 30,
Six Months Ended June 30,
(In millions)
2019
2018
2019
2018
Net sales
$

$
413

$
362

$
828

Cost of goods sold

284

259

550

Research and development expense

6

4

13

Selling, general and administrative expenses

10

9

24

Amortization of intangibles

24

23

48

Restructuring and asset related charges - net

(2
)
2

2

Integration and separation costs

31

44

53

Other income - net

9

2

11

Income from discontinued operations before income taxes

69

23

149

Provision for income taxes on discontinued operations

13

4

29

Income from discontinued operations after income taxes
$

$
56

$
19

$
120



The following table presents the depreciation and capital expenditures of the discontinued operations related to EID ECP:
 
Three Months Ended June 30,
Six Months Ended June 30,
(In millions)
2019
2018
2019
2018
Depreciation
$

$
34

$
28

$
67

Capital expenditures
$

$
19

$
16

$
42




16

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


The carrying amount of major classes of assets and liabilities classified as assets and liabilities of discontinued operations at  December 31, 2018  and June 30, 2018 related to ECP consist of the following:
(In millions)
December 31, 2018
June 30, 2018
Cash and cash equivalents
$
55

$

Accounts and notes receivable - net
194

218

Inventories
465

424

Other current assets
12

7

Total current assets of discontinued operations
726

649

Investment in nonconsolidated affiliates
108

108

Property, plant and equipment - net
770

793

Goodwill
3,587

3,597

Other intangible assets
1,143

1,193

Deferred income taxes
13

50

Other assets
1

3

Non-current assets of discontinued operations
5,622

5,744

Total assets of discontinued operations
$
6,348

$
6,393

Short-term borrowings and finance lease obligations
2


Accounts payable
214

168

Income tax payable

1

Accrued and other current liabilities
36

41

Total current liabilities of discontinued operations
252

210

Long-term Debt
4


Other noncurrent obligations
2

5

Deferred income tax liabilities
432

520

Pension and other post employment benefits - noncurrent
6

5

Non-current liabilities of discontinued operations
444

530

Total liabilities of discontinued operations
$
696

$
740




17

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


EID Specialty Products Divestiture
As discussed in Note 1 - Background and Basis of Presentation, on May 1, 2019 , the company completed the transfer of the entities and related assets and liabilities of EID Specialty Products Entities to DuPont.

As a result, the financial results of the EID Specialty Products Entities are reflected as discontinued operations, as summarized below:
 
Three Months Ended June 30,
Six Months Ended June 30,
(In millions)
2019
2018
2019
2018
Net sales
$
1,214

$
4,071

$
5,030

$
8,010

Cost of goods sold
817

2,719

3,352

5,386

Research and development expense
51

160

204

317

Selling, general and administrative expenses
172

407

573

818

Amortization of intangibles
66

207

267

415

Restructuring and asset related charges - net
72

44

115

84

Integration and separation costs
89

67

253

123

Goodwill impairment
1,102


1,102


Other (expense) income - net
(82
)
68

38

135

(Loss) Income from discontinued operations before income taxes
(1,237
)
535

(798
)
1,002

Provision for income taxes on discontinued operations
6

268

104

443

(Loss) Income from discontinued operations after income taxes
$
(1,243
)
$
267

$
(902
)
$
559



EID Specialty Products Impairment    
As a result of the Merger and related acquisition method of accounting, Historical EID’s assets and liabilities were measured at fair value resulting in increases to the company’s goodwill and other intangible assets. The fair value valuation increased the risk that any declines in financial projections, including changes to key assumptions, could have a material, negative impact on the fair value of the company’s reporting units and assets, and therefore could result in an impairment.

As a result of the Internal Reorganization, in the second quarter of 2019, EID assessed the recoverability of the goodwill within the electronics and communications, protection solutions, nutrition and health, transportation and advanced polymers, packaging and specialty plastics, industrial biosciences, and clean technologies reporting units, and the overall carrying value of the net assets in the disposal group that was distributed to DowDuPont on May 1, 2019. As a result of this analysis, the company determined that the fair value of certain reporting units related to the EID specialty products businesses were below carrying value resulting in pre-tax, non-cash goodwill impairment charges totaling $1,102 million reflected in loss from discontinued operations after income taxes. Revised financial projections reflect unfavorable market conditions, driven by slowed demand in the biomaterials business unit, coupled with challenging conditions in U.S. bioethanol markets. These revised financial projections resulted in a reduction in the long-term forecasts of sales and profitability as compared to prior projections.

The company’s analyses above using discounted cash flow models (a form of the income approach) utilized Level 3 unobservable inputs. The company’s significant assumptions in these analyses include, but are not limited to, future cash flow projections, the 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 planned business strategies. These estimates could be negatively affected by changes in federal, state, or local regulations or economic downturns. Future cash flow estimates are, by their nature, subjective and actual results may differ materially from the company’s estimates. The company also used a form of the market approach (utilizes Level 3 unobservable inputs), which is derived from metrics of publicly traded companies or historically completed transactions of comparable businesses. The selection of comparable businesses is based on the markets in which the reporting units operate giving consideration to risk profiles, size, geography, and diversity of products and services. As such, the company believes the current assumptions and estimates utilized are both reasonable and appropriate.


18

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


In addition, the company performed an impairment analysis related to the equity method investments held by the EID specialty products businesses, as of May 1, 2019. The company applied the net asset value method under the cost approach to determine the fair value of the equity method investments in the EID specialty products businesses. Based on updated projections, the company determined the fair value of an equity method investment was below the carrying value and had no expectation the fair value would recover in the short-term due to the current economic environment. As a result, management concluded the impairment was other-than-temporary and recorded an impairment charge of $63 million , reflected in loss from discontinued operations after income taxes. Additionally, this impairment is reflected within restructuring and asset related charges - net in the three and six months ended June 30, 2019, within the table above.

The following table presents the depreciation and capital expenditures of the discontinued operations related to the EID Specialty Products Entities:
 
Three Months Ended June 30,
Six Months Ended June 30,
(In millions)
2019
2018
2019
2018
Depreciation
$
65

$
215

$
281

$
428

Capital expenditures
$
58

$
169

$
481

$
413



The carrying amount of major classes of assets and liabilities classified as assets and liabilities of discontinued operations at  December 31, 2018  and June 30, 2018 related to the EID Specialty Products Entities consist of the following:
(In millions)
December 31, 2018
June 30, 2018
Cash and cash equivalents
$
2,199

$
1,799

Marketable securities
29

325

Accounts and notes receivable - net
2,441

2,605

Inventories
3,452

3,376

Other current assets
242

268

Total current assets of discontinued operations
8,363

8,373

Investment in nonconsolidated affiliates
1,185

1,216

Property, plant and equipment - net
8,138

7,930

Goodwill
28,250

28,645

Other intangible assets
13,037

13,546

Deferred income taxes
122

251

Other assets
191

240

Non-current assets of discontinued operations
50,923

51,828

Total assets of discontinued operations
$
59,286

$
60,201

Short-term borrowings and finance lease obligations
15

4

Accounts payable
1,983

1,766

Income taxes payable
33

33

Accrued and other current liabilities
884

754

Total current liabilities of discontinued operations
2,915

2,557

Long-term Debt
29

12

Other noncurrent obligations
262

290

Deferred income tax liabilities
3,624

3,945

Pension and other post employment benefits - noncurrent
1,125

1,043

Non-current liabilities of discontinued operations
5,040

5,290

Total liabilities of discontinued operations
$
7,955

$
7,847




19

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


Integration and Separation Costs
Integration and separation costs have been significant. These costs have primarily consisted of financial advisory, information technology, legal, accounting, consulting, and other professional advisory fees associated with the preparation and execution of activities related to the Merger and the Business Separations. These costs are recorded within integration and separation costs within the interim Consolidated Statements of Operations.
 
Three Months Ended June 30,
Six Months Ended June 30,
(In millions)
2019
2018
2019
2018
Integration and separation costs
$
330

$
249

$
542

$
444


 
Merger Remedy - Divested EID Ag Business
A complete discussion of the Divested Ag Business is included in Note 4 - "Divestitures and Other Transactions," within Exhibit 99.2 of Amendment 2 to the Form 10. For the six months ended June 30, 2018 , the company recorded a loss from discontinued operations before income taxes related to the Divested Ag Business of $10 million ( $5 million after tax). For the three and six months ended June 2019, the company recorded income from discontinued operations after incomes taxes of $80 million , respectively, related to changes in accruals for certain prior year tax positions.

Other Discontinued Operations Activity
For the three and six months ended June 2019, the company recorded income from discontinued operations after income taxes of $86 million , respectively, related to the adjustment of certain unrecognized tax benefits for positions taken on items from prior years from previously divested businesses.

NOTE 6 - REVENUE

Revenue Recognition
Products
Substantially all of Corteva's revenue is derived from product sales. Product sales 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.

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. At June 30, 2019 , the company had remaining performance obligations related to material rights granted to customers for contract renewal options of $104 million ( $102 million and $99 million at December 31, 2018 and June 30, 2018 , respectively). The company expects revenue to be recognized for the remaining performance obligations over the next 1 year to 6 years .


20

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


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 contractual rights to consideration for completed performance not yet invoiced. Accounts receivable are recorded when the right to consideration becomes unconditional.

Contract Balances
June 30, 2019
December 31, 2018
June 30, 2018
(In millions)
Accounts and notes receivable - trade 1
$
6,102

$
3,843

$
5,886

Contract assets - current 2
$
19

$
18

$
17

Contract assets - noncurrent 3
$
48

$
46

$
44

Deferred revenue - current 4
$
583

$
2,209

$
431

Deferred revenue - noncurrent 5
$
118

$
150

$
121

1.  
Included in accounts and notes receivable - net in the interim Condensed Consolidated Balance Sheets.
2.  
Included in other current assets in the interim Condensed Consolidated Balance Sheets.
3.  
Included in other assets in the interim Condensed Consolidated Balance Sheets.
4.  
Included in accrued and other current liabilities in the interim Condensed Consolidated Balance Sheets.
5.  
Included in other noncurrent obligations in the interim Condensed Consolidated Balance Sheets.

The change in deferred revenue from December 31, 2018 to June 30, 2019 was substantially due to the timing of seed deliveries to customers for the North America growing season . Revenue recognized during the six months ended June 30, 2019 from amounts included in deferred revenue at the beginning of the period was $1,895 million .

The increase in accounts and notes receivable - trade from December 31, 2018 to June 30, 2019 was primarily due to the seasonality of the company's business. Trade receivables are at a low point at year-end and increase through the northern hemisphere selling season, reaching their peak at the end of the second quarter.

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 June 30,
Six Months Ended June 30,
(In millions)
2019
2018
2019
2018
    Corn
$
2,309

$
2,248

$
3,777

$
3,945

    Soybean
998

1,214

1,129

1,395

    Other oilseeds
200

194

425

457

    Other
192

208

335

368

Seed
3,699

3,864

5,666

6,165

    Herbicides
1,044

1,068

1,815

1,931

    Insecticides
459

448

836

777

    Fungicides
302

269

522

547

    Other
52

82

113

105

Crop Protection
1,857

1,867

3,286

3,360

Total
$
5,556

$
5,731

$
8,952

$
9,525




21

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


Sales are attributed to geographic regions based on customer location. Net sales by geographic region and segment are included below:
Seed
Three Months Ended June 30,
Six Months Ended June 30,
(In millions)
2019
2018
2019
2018
North America 1
$
3,099

$
3,279

$
4,012

$
4,478

EMEA 2