NYSE: CTVA
Corteva, Inc.CIK 0001755672 · SIC 0100 · Agricultural Production-Crops
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Corteva bondholders approve covenant removal ahead of seed/crop-protection split
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Corteva launches debt exchange for $1.6B EIDP notes ahead of Oct 2026 seed-business spin-off
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Corteva plans split into two companies; net income falls 11.6% to $1.16B
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Latest financial statements
From 10-Q filed Jul 31, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(In millions, except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Net sales | 6,379 | 6,456 | 11,284 | 10,873 |
| Cost of goods sold | 2,718 | 2,932 | 5,090 | 5,274 |
| Research and development expense | 388 | 375 | 729 | 710 |
| Selling, general and administrative expenses | 1,164 | 1,156 | 2,041 | 1,907 |
| Amortization of intangibles | 194 | 161 | 354 | 323 |
| Restructuring and asset related charges net | 49 | 79 | 141 | 101 |
| Separation costs | 79 | — | 131 | — |
| Other income (expense) net | (115) | 103 | (232) | 118 |
| Interest expense | 47 | 52 | 83 | 88 |
| Income (loss) from continuing operations before income taxes | 1,625 | 1,804 | 2,483 | 2,588 |
| Provision for (benefit from) income taxes on continuing operations | 408 | 422 | 541 | 539 |
| Income (loss) from continuing operations after income taxes | 1,217 | 1,382 | 1,942 | 2,049 |
| Income (loss) from discontinued operations after income taxes | (52) | (66) | (54) | (77) |
| Net income (loss) | 1,165 | 1,316 | 1,888 | 1,972 |
| Net income (loss) attributable to noncontrolling interests | 4 | 2 | 7 | 6 |
| Net income (loss) attributable to Corteva | 1,161 | 1,314 | 1,881 | 1,966 |
| Basic earnings (loss) per share of common stock: | ||||
| Basic earnings (loss) per share of common stock from continuing operations | 1.81 | 2.02 | 2.89 | 2.99 |
| Basic earnings (loss) per share of common stock from discontinued operations | (0.08) | (0.10) | (0.08) | (0.11) |
| Basic earnings (loss) per share of common stock | 1.73 | 1.92 | 2.81 | 2.88 |
| Diluted earnings (loss) per share of common stock: | ||||
| Diluted earnings (loss) per share of common stock from continuing operations | 1.81 | 2.02 | 2.88 | 2.98 |
| Diluted earnings (loss) per share of common stock from discontinued operations | (0.08) | (0.10) | (0.08) | (0.11) |
| Diluted earnings (loss) per share of common stock | 1.73 | 1.92 | 2.80 | 2.87 |
Consolidated Balance Sheets (Unaudited)
(In millions, except share amounts)
| Description | June 30, 2026 | December 31, 2025 | June 30, 2025 |
|---|---|---|---|
| Assets | |||
| Current assets | |||
| Cash and cash equivalents | 2,365 | 4,521 | 2,065 |
| Marketable securities | — | 9 | 76 |
| Accounts and notes receivable net | 8,696 | 6,371 | 8,674 |
| Inventories | 4,443 | 5,667 | 4,316 |
| Other current assets | 853 | 767 | 873 |
| Total current assets | 16,357 | 17,335 | 16,004 |
| Investment in nonconsolidated affiliates | 145 | 160 | 134 |
| Property, plant and equipment | 9,744 | 9,551 | 9,455 |
| Less: Accumulated depreciation | 5,566 | 5,331 | 5,302 |
| Net property, plant and equipment | 4,178 | 4,220 | 4,153 |
| Goodwill | 10,437 | 10,465 | 10,518 |
| Other intangible assets | 8,006 | 8,301 | 8,583 |
| Deferred income taxes | 335 | 320 | 449 |
| Other assets | 2,184 | 2,044 | 1,918 |
| Total Assets | 41,642 | 42,845 | 41,759 |
| Liabilities and Equity | |||
| Current liabilities | |||
| Short-term borrowings | 3,193 | 894 | 1,942 |
| Accounts payable | 3,958 | 4,398 | 3,828 |
| Income taxes payable | 303 | 155 | 485 |
| Deferred revenue | 383 | 3,579 | 358 |
| Accrued and other current liabilities | 2,952 | 3,099 | 2,903 |
| Total current liabilities | 10,789 | 12,125 | 9,516 |
| Long-term debt | 1,682 | 1,686 | 1,687 |
| Other noncurrent liabilities | |||
| Deferred income tax liabilities | 512 | 251 | 258 |
| Pension and other post-employment benefits | 1,300 | 2,434 | 2,229 |
| Other noncurrent obligations | 1,956 | 1,963 | 1,918 |
| Total noncurrent liabilities | 5,450 | 6,334 | 6,092 |
| Commitments and contingent liabilities | |||
| Stockholders’ equity | |||
| Common stock, $0.01 par value; 1,666,667,000 shares authorized; issued at June 30, 2026 667,018,000; December 31, 2025 - 672,163,000; and June 30, 2025 - 679,879,000 | 7 | 7 | 7 |
| Additional paid-in capital | 26,894 | 27,001 | 27,014 |
| Retained earnings (accumulated deficit) | 1,224 | (67) | 1,532 |
| Accumulated other comprehensive income (loss) | (2,966) | (2,797) | (2,644) |
| Total Corteva stockholders’ equity | 25,159 | 24,144 | 25,909 |
| Noncontrolling interests | 244 | 242 | 242 |
| Total equity | 25,403 | 24,386 | 26,151 |
| Total Liabilities and Equity | 41,642 | 42,845 | 41,759 |
Consolidated Statements of Cash Flows (Unaudited)
(In millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating activities | ||
| Net income (loss) | 1,888 | 1,972 |
| (Income) loss from discontinued operations after income taxes | 54 | 77 |
| Adjustments to reconcile net income (loss) to cash provided by (used for) operating activities: | ||
| Depreciation and amortization | 636 | 597 |
| Provision for (benefit from) deferred income tax | 232 | (209) |
| Net periodic pension and OPEB (benefit) cost, net | (5) | 19 |
| Pension and OPEB contributions | (1,140) | (84) |
| Net (gain) loss on sales of property, businesses, consolidated companies and investments | 6 | (17) |
| Restructuring and asset related charges net | 141 | 101 |
| Other net loss | 319 | 272 |
| Changes in assets and liabilities, net | ||
| Accounts and notes receivable | (2,416) | (2,544) |
| Inventories | 1,227 | 1,310 |
| Accounts payable | (487) | (356) |
| Deferred revenue | (3,187) | (2,944) |
| Other assets and liabilities | (613) | 667 |
| Cash provided by (used for) operating activities continuing operations | (3,345) | (1,139) |
| Cash provided by (used for) operating activities discontinued operations | (12) | (23) |
| Cash provided by (used for) operating activities | (3,357) | (1,162) |
| Investing activities | ||
| Capital expenditures | (203) | (212) |
| Proceeds from sales of property, businesses and consolidated companies net of cash divested | 1 | 25 |
| Acquisitions of businesses net of cash acquired | (43) | — |
| Investments in and loans to nonconsolidated affiliates | (6) | — |
| Proceeds from sales and maturities of investments | 9 | 62 |
| Proceeds from (payments for) settlement of net investment hedge | — | (56) |
| Other investing activities, net | (5) | (17) |
| Cash provided by (used for) investing activities | (247) | (198) |
| Financing activities | ||
| Net change in borrowings (less than 90 days) | 2,398 | 28 |
| Proceeds from debt | 868 | 1,214 |
| Payments on debt | (989) | (335) |
| Repurchase of common stock | (500) | (520) |
| Proceeds from exercise of stock options | 31 | 70 |
| Dividends paid to stockholders | (241) | (232) |
| Other financing activities, net | (37) | (38) |
| Cash provided by (used for) financing activities | 1,530 | 187 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents | (32) | 68 |
| Increase (decrease) in cash, cash equivalents and restricted cash equivalents | (2,106) | (1,105) |
| Cash, cash equivalents and restricted cash equivalents at beginning of period | 4,725 | 3,422 |
| Cash, cash equivalents and restricted cash equivalents at end of period 1 | 2,619 | 2,317 |
Amounts as printed on the EDGAR/iXBRL face — (In millions, except per share amounts); (In millions, except share amounts); (In millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗