v3.25.1
Revenue (Notes)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
Remaining Performance Obligations
Remaining performance obligations represent the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. The company applies the practical expedient to disclose the transaction price allocated to the remaining performance obligations for only those contracts with an original duration of more than one year. The transaction price allocated to remaining performance obligations with an original duration of more than one year related to material rights granted to customers for contract renewal options were $135 million, $139 million and $131 million at March 31, 2025, December 31, 2024 and March 31, 2024, respectively. The company expects revenue to be recognized for the remaining performance obligations evenly over the period of one year to six years.

Contract Balances
Contract liabilities primarily reflect deferred revenue from prepayments under contracts with customers where the company receives advance payments for products to be delivered in future periods. Corteva classifies deferred revenue as current or noncurrent based on the timing of when the company expects to recognize revenue. Contract assets primarily include amounts related to conditional rights to consideration for completed performance not yet invoiced. Accounts receivable are recorded when the right to consideration becomes unconditional.

Contract BalancesMarch 31, 2025December 31, 2024March 31, 2024
(In millions)
Accounts and notes receivable - trade1
$7,251 $4,615 $6,760 
Contract assets - current2
$30 $30 $28 
Contract assets - noncurrent3
$73 $74 $67 
Deferred revenue - current$2,631 $3,287 $2,694 
Deferred revenue - noncurrent4
$111 $114 $104 
1.Included in accounts and notes receivable - net in the interim Consolidated Balance Sheets.
2.Included in other current assets in the interim Consolidated Balance Sheets.
3.Included in other assets in the interim Consolidated Balance Sheets.
4.Included in other noncurrent obligations in the interim Consolidated Balance Sheets.

Revenue recognized during the three months ended March 31, 2025 and 2024 from amounts included in deferred revenue at the beginning of the period was $1,174 million and $1,205 million, respectively.
Disaggregation of Revenue
Corteva's operations are classified into two reportable segments: Seed and Crop Protection. The company disaggregates its revenue by major product line and geographic region, as the company believes it best depicts the nature, amount and timing of its revenue and cash flows. Net sales by major product line are included below:
Three Months Ended March 31,
(In millions)20252024
    Corn$2,069 $2,087 
    Soybean305 292 
    Other oilseeds223 245 
    Other110 127 
Seed2,707 2,751 
    Herbicides860 886 
    Insecticides336 373 
    Fungicides304 295 
    Biologicals84 82 
    Other126 105 
Crop Protection1,710 1,741 
Total$4,417 $4,492 

Sales are attributed to geographic regions based on customer location. Net sales by geographic region and segment are included below:
SeedThree Months Ended March 31,
(In millions)20252024
North America1
$1,597 $1,471 
EMEA2
826 918 
Latin America185 271 
Asia Pacific99 91 
Total$2,707 $2,751 

Crop ProtectionThree Months Ended March 31,
(In millions)20252024
North America1
$613 $616 
EMEA2
651 670 
Latin America257 244 
Asia Pacific189 211 
Total$1,710 $1,741 
1.Represents U.S. & Canada.
2.Europe, Middle East and Africa ("EMEA").