Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments, Gain (Loss) [Line Items]


		March 31, 2026
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting 1		Net Amounts Included in the Interim Consolidated Balance Sheets
Asset derivatives:
Derivatives designated as hedging instruments:

Commodity contracts	Other current assets	$	5	$	—	$	5
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	28		(28)		—
Commodity contracts	Other current assets	2		—		2
Total asset derivatives		$	35	$	(28)	$	7

Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	24	$	—	$	24
Commodity contracts	Accrued and other current liabilities	1		—		1
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	153		(28)		125
Commodity contracts	Accrued and other current liabilities	3		—		3
Total liability derivatives		$	181	$	(28)	$	153


		December 31, 2025
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting 1		Net Amounts Included in the Consolidated Balance Sheets
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	5	$	—	$	5
Commodity contracts	Other current assets	1		—		1
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	23		(21)		2
Commodity contracts	Other current assets	3		—		3
Total asset derivatives		$	32	$	(21)	$	11

Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	1	$	—	$	1
Commodity contracts	Accrued and other current liabilities	3		—		3
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	40		(21)		19
Commodity contracts	Accrued and other current liabilities	6		—		6
Total liability derivatives		$	50	$	(21)	$	29


		March 31, 2025
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting 1		Net Amounts Included in the Interim Consolidated Balance Sheets
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	12	$	—	$	12
Commodity contracts	Other current assets	2		—		2
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	101		(58)		43
Commodity contracts	Other current assets	5		—		5
Total asset derivatives		$	120	$	(58)	$	62

Liability derivatives:
Derivatives designated as hedging instruments:

Commodity contracts	Accrued and other current liabilities	$	2	$	—	$	2
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	63		(58)		5
Commodity contracts	Accrued and other current liabilities	5		—		5
Total liability derivatives		$	70	$	(58)	$	12

1. Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)


		Amount of Gain (Loss) Recognized in OCI - Pre-Tax 1
	Three Months Ended March 31,
(In millions)		2026		2025
Derivatives designated as hedging instruments:
Net investment hedges:
Foreign currency contracts		$	—	$	10
Cash flow hedges:
Foreign currency contracts		(32)		—
Commodity contracts		27		2
Total derivatives designated as hedging instruments		$	(5)	$	12

1.OCI is defined as other comprehensive income (loss).

Effect of Derivatives


		Amount of Gain (Loss) Recognized in Income - Pre-Tax 1
	Three Months Ended March 31,
(In millions)		2026		2025
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign currency contracts 2		$	—	$	6
Commodity contracts 2		(3)		(19)
Total derivatives designated as hedging instruments		$	(3)	$	(13)
Derivatives not designated as hedging instruments:
Foreign currency contracts 3		$	(152)	$	20
Foreign currency contracts 2		(11)		(9)
Commodity contracts 2,4		8		7
Commodity contracts 3		—		—
Total derivatives not designated as hedging instruments		$	(155)	$	18
Total derivatives		$	(158)	$	5

1.For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.

2.Recorded in cost of goods sold in the interim Consolidated Statements of Operations.

3.Recognized in other income (expense) - net in the interim Consolidated Statements of Operations. Note that net gain (loss) from foreign currency contracts was partially offset by the related gain (loss) on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 5 - Supplementary Information, to the interim Consolidated Financial Statements, for additional information.

4.The net gain (loss) relating to commodity contracts that are not designated as hedging instruments that were recorded in cost of goods sold, in the interim Consolidated Statements of Operations, are mostly offset by the related net gain (loss) on third-party grower contracts denominated as liabilities.

Time Deposits and Money Market Funds

Derivative Instruments, Gain (Loss) [Line Items]

Debt Securities, Held-to-Maturity


Held-to-Maturity Securities		Amortized Cost
(in millions)	Balance Sheet Location	March 31, 2026		December 31, 2025		March 31, 2025
Time deposits and money market funds	Cash equivalents 1	$	1,113	$	3,431	$	1,314
Time deposits	Marketable securities 2	$	1	$	1	$	1

1.Maturity at time of purchase was three months or less.

2.Maturity at time of purchase was more than three months to less than one year.

Foreign Government Debt [Member]

Derivative Instruments, Gain (Loss) [Line Items]

Debt Securities, Available-for-Sale


Available-for-Sale Securities		Fair Value
(in millions)	Balance Sheet Location	March 31, 2026		December 31, 2025		March 31, 2025
Foreign government bonds	Marketable securities 1	$	1	$	8	$	—
Foreign government bonds	Other assets 2	$	23	$	22	$	99

1.Maturity at time of purchase was more than three months to less than one year.

2.Maturity at time of purchase was more than one year.

Commodity Contract [Member]

Derivative Instruments, Gain (Loss) [Line Items]

After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)


	Three Months Ended March 31,
(In millions)	2026		2025
Beginning balance	$	9	$	(49)
Additions and revaluations of derivatives designated as cash flow hedges	21		2
Clearance of hedge results to earnings	3		15
Ending balance	$	33	$	(32)

Foreign Currency Contract [Member]

Derivative Instruments, Gain (Loss) [Line Items]

After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)


	Three Months Ended March 31,
(In millions)		2026		2025
Beginning balance		$	5	$	13
Additions and revaluations of derivatives designated as cash flow hedges		(32)		—
Clearance of hedge results to earnings		—		(13)
Ending balance		$	(27)	$	—

Corteva, Inc. 10-Q