Corteva Inc 2025年季度报告

For the quarterly period ended March31, 2025 ORTRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 Commission File Number001-38710Corteva, Inc. Delaware(State or other Jurisdiction of Incorporation or Organization) 9330 Zionsville Road,Indianapolis,Indiana46268974 Centre Road,Wilmington,Delaware19805(Address of Principal Executive Offices) (Zip Code) (Address of Principal Executive Offices) (Zip Code) and "emerging growth company" in Rule12b-2 of the Exchange Act. Corteva, Inc.Large Accelerated FilerxAcceleratedFileroNon-Accelerated FileroSmaller reportingcompanyoEmerging growthcompanyoEIDP, Inc.Large Accelerated FileroAcceleratedFileroNon-Accelerated FilerxSmaller reportingcompanyoEmerging growthcompanyo complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.Corteva, Inc. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Corteva, Inc.YesoNox Consolidated Statements of Comprehensive Income (Loss)Consolidated Balance SheetsConsolidated Statements of Cash Flows reporting company, subject to the requirements of the Securities Exchange Act of 1934, as amended.Unless otherwise indicated or the context otherwise requires, references in this Quarterly Report on Form 10-Q to:• "Corteva" or "the company" refers to Corteva, Inc. and its consolidated subsidiaries (including EIDP);• "EIDP" refers to EIDP, Inc. (formerly known as E. I. du Pont de Nemours and Company) and its consolidated subsidiaries orEIDP excluding its consolidated subsidiaries, as the context may indicate;• "DowDuPont" refers to DowDuPont Inc. and its subsidiaries prior to the Separation of Corteva (defined below);• "Historical Dow" refers to The Dow Chemical Company and its consolidated subsidiaries prior to the Internal Reorganization company on April 1, 2019 by way of a distribution of Dow Inc. through a pro rata dividend in-kind of all of the then-issued andoutstanding shares of Dow Inc.’s common stock; • "Merger” refers to the all-stock merger of equals strategic combination between Historical Dow and Historical DuPont on August 31, 2017;• "Dow" refers to Dow Inc. after the Dow Distribution;• "DuPont" refers to DuPont de Nemours, Inc. after the Separation of Corteva (on June 1, 2019, DowDuPont Inc. changed its traded company; common stock on June 1, 2019, which was then a wholly-owned subsidiary of DowDuPont, to holders of DowDuPont's commonstock as of the close of business on May 24, 2019;• "Distributions" refers to the Dow Distribution and the Corteva Distribution; and• “Letter Agreement” refers to the Letter Agreement executed by DuPont and Corteva on June 1, 2019, which sets forth certainadditional terms and conditions related to the Separation, including certain limitations on each party’s ability to transfer certainbusinesses and assets to third parties without assigning certain of such party’s indemnification obligations under the CortevaSeparation Agreement to the other party to the transferee of such businesses and assets or meeting certain other alternativeThis Quarterly Report on Form 10-Q is a combined report being filed separately by Corteva, Inc. and EIDP.The information in thisQuarterly Report on Form 10-Q is equally applicable to Corteva, Inc. and EIDP, except where otherwise indicated.The separate EIDP financial statements and footnotes for areas that differ from Corteva, are included within this Quarterly Report on Form10-Q and begin on page 61. Footnotes of EIDP that are identical to that of Corteva are cross-referenced accordingly. Item 1.CONSOLIDATED FINANCIAL STATEMENTS Consolidated Statements of Operations (Unaudited)Three Months Ended March31, Cost of goods sold2,342Research and development expense335 Income (loss) from continuing operations before income taxes $7$27,748$(41)$419 Note1 89 InventoriesOther Intangible AssetsShort-Term Borrowings, Long-Term Debt and Available Credit FacilitiesCommitments and Contingent LiabilitiesStockholders' EquityPension Plans and Other Post Employment BenefitsFinancial InstrumentsFair Value MeasurementsSegment Information Basis of PresentationThe accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with generally acceptedaccounting principles in the United States of America ("GAAP") for interim financial information and the instructions to Form10-Q andRule10-01 of RegulationS-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered accounts of the company and all of its subsidiaries in which a controlling interest is maintained. The interim Consolidated FinancialStatements and other financial information included in this Form 10-Q, unless otherwise specified, have been presented to separately showthe effects of discontinued operations.Since 2018, Argentina has been considered a hyper-inflationary economy under U.