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Item 6. EXHIBITS

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Item 6. EXHIBITS

Exhibit NumberDescription
2.1Separation and Distribution Agreement by and among DowDuPont Inc., Dow Inc. and Corteva, Inc. (incorporated by reference to Exhibit No. 2.1 to Amendment 3 to Corteva’s Registration Statement on Form 10 (Commission file number 001-38710), filed on April 16, 2019).
3.1Amended and Restated Certificate of Incorporation of Corteva, Inc. (incorporated by reference to Exhibit No. 3.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on May 2, 2024).
3.2Amended and Restated Bylaws of Corteva, Inc. (incorporated by reference to Exhibit No. 3.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on December 21, 2022).
3.3Amended and Restated Certificate of Incorporation of EIDP, Inc. (incorporated by reference to Exhibit No. 3.3 to Corteva’s and EIDP’s Quarterly Report on Form 10-Q (Commission file numbers 001-38710 and 001-00815), filed on May 4, 2023).
3.4Amended and Restated Bylaws of EIDP, Inc. (incorporated by reference to Exhibit 3.2 to EIDP's Current Report on Form 8-K (Commission file number 001-00815) dated September 1, 2017).
4Corteva agrees to provide the Commission, on request, copies of instruments defining the rights of holders of long-term debt of Corteva and its subsidiaries.
31.1Rule 13a-14(a)/15d-14(a) Certification of the company’s and EIDP’s Principal Executive Officer.
31.2Rule 13a-14(a)/15d-14(a) Certification of the company’s and EIDP’s Principal Financial Officer.
32.1Section 1350 Certification of the company’s and EIDP’s Principal Executive Officer. The information contained in this Exhibit shall not be deemed filed with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the registrant under the Securities Act of 1933, as amended.
32.2Section 1350 Certification of the company’s and EIDP’s Principal Financial Officer. The information contained in this Exhibit shall not be deemed filed with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the registrant under the Securities Act of 1933, as amended.
101.INSXBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCHInline XBRL Taxonomy Extension Schema Document
101.CALInline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEFInline XBRL Taxonomy Extension Definition Linkbase Document
101.LABInline XBRL Taxonomy Extension Label Linkbase Document
101.PREInline XBRL Taxonomy Extension Presentation Linkbase Document
104Cover Page Interactive Data File – The Cover Page XBRL tags are embedded within the Inline XBRL document (included in Exhibit 101.INS)

SIGNATURE

Corteva, Inc.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Corteva, Inc.
(Registrant)
Date:May 8, 2025
By:/s/ Brian Titus
Brian Titus
Vice President, Controller
(Principal Accounting Officer)

EIDP, Inc.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

EIDP, Inc.
(Registrant)
Date:May 8, 2025
By:/s/ Brian Titus
Brian Titus
Vice President, Controller
(Principal Accounting Officer)

EIDP, Inc.

Index to the Consolidated Financial Statements

Page(s)
Consolidated Financial Statements (Unaudited):
Consolidated Statements of Operations62
Consolidated Statements of Comprehensive Income (Loss)63
Consolidated Balance Sheets64
Consolidated Statements of Cash Flows65
Consolidated Statements of Equity66
Notes to the Interim Consolidated Financial Statements (Unaudited)67

CONSOLIDATED FINANCIAL STATEMENTS OF EIDP, Inc.

EIDP, Inc.

Consolidated Statements of Operations (Unaudited)

Three Months Ended March 31,
(In millions, except per share amounts)20252024
Net sales$4,417$4,492
Cost of goods sold2,3422,550
Research and development expense335332
Selling, general and administrative expenses751736
Amortization of intangibles162177
Restructuring and asset related charges - net2275
Other income (expense) - net15(92)
Interest expense3641
Income (loss) from continuing operations before income taxes784489
Provision for (benefit from) income taxes on continuing operations117108
Income (loss) from continuing operations after income taxes667381
Income (loss) from discontinued operations after income taxes(11)47
Net income (loss)656428
Net income (loss) attributable to noncontrolling interests12
Net income (loss) attributable to EIDP, Inc.$655$426

See Notes to the Interim Consolidated Financial Statements beginning on page 67.

EIDP, Inc.

Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

Three Months Ended March 31,
(In millions)20252024
Net income (loss)$656$428
Other comprehensive income (loss) - net of tax:
Cumulative translation adjustments186(304)
Adjustments to pension benefit plans11
Adjustments to other benefit plans(3)(2)
Unrealized gain (loss) on investments2(22)
Derivative instruments12(6)
Total other comprehensive income (loss)198(333)
Comprehensive income (loss)85495
Comprehensive income (loss) attributable to noncontrolling interests - net of tax12
Comprehensive income (loss) attributable to EIDP, Inc.$853$93

See Notes to the Interim Consolidated Financial Statements beginning on page 67.

EIDP, Inc.

Consolidated Balance Sheets (Unaudited)

(In millions, except share amounts)March 31, 2025December 31, 2024March 31, 2024
Assets
Current assets
Cash and cash equivalents$2,008$3,106$1,505
Marketable securities163153
Accounts and notes receivable - net8,2945,6767,906
Inventories5,1325,4326,183
Other current assets1,1528201,416
Total current assets16,58715,09717,163
Investment in nonconsolidated affiliates136134123
Property, plant and equipment9,2449,0749,013
Less: Accumulated depreciation5,1394,9754,807
Net property, plant and equipment4,1054,0994,206
Goodwill10,33210,40810,553
Other intangible assets8,7188,8769,446
Deferred income taxes413401551
Other assets1,8321,8102,329
Total Assets$42,123$40,825$44,371
Liabilities and Equity
Current liabilities
Short-term borrowings and finance lease obligations$2,291$750$2,148
Accounts payable3,9054,0393,606
Income taxes payable322207311
Deferred revenue2,6313,2872,694
Accrued and other current liabilities2,3212,0962,566
Total current liabilities11,47010,37911,325
Long-term debt1,7921,9532,492
Other noncurrent liabilities
Deferred income tax liabilities369478753
Pension and other post-employment benefits2,2392,2712,453
Other noncurrent obligations1,7151,7071,587
Total noncurrent liabilities6,1156,4097,285
Commitments and contingent liabilities
Stockholders’ equity
Preferred stock, without par value – cumulative; 23,000,000 shares authorized; issued at March 31, 2025, December 31, 2025, and March 31, 2024:
$4.50 Series – 1,673,000 shares (callable at $120)169169169
$3.50 Series – 700,000 shares (callable at $102)707070
Common stock, $0.30 par value; 1,800,000,000 shares authorized; 200 issued at March 31, 2025, December 31, 2024, and March 31, 2024———
Additional paid-in capital24,49724,46424,360
Due from Parent—(129)—
Retained earnings (accumulated deficit)3,0702,9304,169
Accumulated other comprehensive income (loss)(3,271)(3,469)(3,010)
Total EIDP, Inc. stockholders’ equity24,53524,03525,758
Noncontrolling interests323
Total equity24,53824,03725,761
Total Liabilities and Equity$42,123$40,825$44,371

See Notes to the Interim Consolidated Financial Statements beginning on page 67.

EIDP, Inc.

Consolidated Statements of Cash Flows (Unaudited)

Three Months Ended March 31,
(In millions)20252024 (Restated)
Operating activities
Net income (loss)$656$428
(Income) loss from discontinued operations after income taxes11(47)
Adjustments to reconcile net income (loss) to cash provided by (used for) operating activities:
Depreciation and amortization296307
Provision for (benefit from) deferred income tax(122)(152)
Net periodic pension and OPEB (benefit) cost, net1041
Pension and OPEB contributions(51)(53)
Net (gain) loss on sales of property, businesses, consolidated companies, and investments(4)(5)
Restructuring and asset related charges - net2275
Other net loss75141
Changes in assets and liabilities, net
Accounts and notes receivable(2,505)(2,546)
Inventories379618
Accounts payable(190)(615)
Deferred revenue(667)(700)
Other assets and liabilities(11)(102)
Cash provided by (used for) operating activities - continuing operations(2,101)(2,610)
Cash provided by (used for) operating activities - discontinued operations(8)(3)
Cash provided by (used for) operating activities(2,109)(2,613)
Investing activities
Capital expenditures(94)(148)
Net payments from (advances to) Parent on in-house banking arrangement—(362)
Proceeds from sales of property, businesses, and consolidated companies - net of cash divested85
Purchases of investments—(132)
Proceeds from sales and maturities of investments627
Other investing activities, net(10)(2)
Cash provided by (used for) investing activities(34)(632)
Financing activities
Net change in borrowings (less than 90 days)745656
Net payments from (advances to) Parent on in-house banking arrangement129—
Proceeds from debt6371,675
Payments on debt(14)(190)
Proceeds from exercise of stock options358
Dividends paid to Parent(513)—
Other financing activities, net(24)(17)
Cash provided by (used for) financing activities9952,132
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents21(31)
Increase (decrease) in cash, cash equivalents and restricted cash equivalents(1,127)(1,144)
Cash, cash equivalents and restricted cash equivalents at beginning of period3,4223,158
Cash, cash equivalents and restricted cash equivalents at end of period$2,295$2,014

See Notes to the Interim Consolidated Financial Statements beginning on page 67.

EIDP, Inc.

Consolidated Statements of Equity (Unaudited)

(In millions)Preferred StockCommon StockAdditional Paid-in CapitalDue from ParentRetained Earnings (Accum. Deficit)Accum. Other Comp. Income (Loss)Non-Controlling InterestsTotal Equity
2024
Balance at January 1, 2024$239$—$24,349$—$3,747$(2,677)$2$25,660
Net income (loss)4262428
Other comprehensive income (loss)(333)(333)
Preferred dividends ($4.50 Series - $1.125 per share, $3.50 Series - $0.875 per share)(3)(3)
Issuance of Corteva stock88
Share-based compensation3(1)2
Other - net—(1)(1)
Balance at March 31, 2024$239$—$24,360$—$4,169$(3,010)$3$25,761
(In millions)Preferred StockCommon StockAdditional Paid-in CapitalDue from ParentRetained Earnings (Accum. Deficit)Accum. Other Comp. Income (Loss)Non-Controlling InterestsTotal Equity
2025
Balance at January 1, 2025$239$—$24,464$(129)$2,930$(3,469)$2$24,037
Net income (loss)6551656
Other comprehensive income (loss)198198
Due from Parent129129
Preferred dividends ($4.50 Series - $1.125 per share, $3.50 Series - $0.875 per share)(3)(3)
Issuance of Corteva stock3535
Share-based compensation(2)(2)
Dividend to Parent(513)(513)
Other - net11
Balance at March 31, 2025$239$—$24,497$—$3,070$(3,271)$3$24,538

See Notes to the Interim Consolidated Financial Statements beginning on page 67.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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

Table of Contents

NotePage
1Basis of Presentation68
2Related Party Transactions69
3Income Taxes70
4Segment Information70

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 1 - BASIS OF PRESENTATION

Corteva, Inc. owns 100% of the outstanding common stock of EIDP. EIDP is a subsidiary of Corteva, Inc. and continues to be a reporting company, subject to the requirements of the Exchange Act. The primary differences between Corteva, Inc. and EIDP are outlined below:

  • Preferred Stock - EIDP has preferred stock outstanding to third parties which is accounted for as a non-controlling interest at the Corteva, Inc. level. Each share of EIDP Preferred Stock - $4.50 Series and EIDP Preferred Stock - $3.50 Series issued and outstanding at the effective date of the Corteva Distribution remains issued and outstanding as to EIDP and was unaffected by the Corteva Distribution.

  • Related Party Loan - EIDP engaged in a series of debt redemptions during the second quarter of 2019 that were partially funded through an intercompany loan from Corteva, Inc. This was eliminated in consolidation at the Corteva, Inc. level but remained on EIDP's consolidated financial statements at the standalone level (including the associated interest) through its repayment date in the fourth quarter of 2023.

  • Master In-House Banking Agreement** - A Master In-House Banking Agreement exists to which EIDP is a party, along with Corteva and certain consolidated subsidiaries, as more fully described in EIDP Note 2 - Related Party Transactions, of the EIDP interim Consolidated Financial Statements. Through the third quarter of 2024, EIDP earned interest on Corteva, Inc.'s borrowings under the Master In-House Banking Agreement; however, beginning in the fourth quarter of 2024 no interest has been recognized by EIDP and the amount due from Corteva, Inc. is classified within equity of EIDP due to a change in repayment intent related to the arrangement. Such transactions are eliminated in consolidation at the Corteva, Inc. level.

  • Capital Structure** - At March 31, 2025, Corteva, Inc.'s capital structure consists of 683,026,000 issued shares of common stock, par value $0.01 per share.

The accompanying footnotes relate to EIDP only, and not to Corteva, Inc., and are presented to show differences between EIDP and Corteva, Inc.

For the footnotes listed below, refer to the following Corteva, Inc. footnotes:

  • Note 1 - Summary of Significant Accounting Policies - refer to page 9 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 2 - Recent Accounting Guidance - refer to page 9 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 3 - Revenue - refer to page 10 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 4 - Restructuring and Asset Related Charges - Net - refer to page 12 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 5 - Supplementary Information - refer to page 13 of the Corteva, Inc. interim Consolidated Financial Statements. In addition, EIDP earned interest on a related party loan receivable from Corteva, Inc. through the third quarter of 2024; refer to EIDP Note 2 - Related Party Transactions, of the EIDP interim Consolidated Financial Statements, below.

  • Note 6 - Income Taxes - Differences exist between Corteva, Inc. and EIDP; refer to EIDP Note 3 - Income Taxes, of the EIDP interim Consolidated Financial Statements, below

  • Note 7 - Earnings Per Share of Common Stock - Not applicable for EIDP

  • Note 8 - Accounts and Notes Receivable - Net - refer to page 16 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 9 - Inventories - refer to page 17 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 10 - Other Intangible Assets - refer to page 17 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 11 - Short-Term Borrowings, Long-Term Debt and Available Credit Facilities - refer to page 17 of the Corteva, Inc. interim Consolidated Financial Statements.

  • Note 12 - Commitments and Contingent Liabilities - refer to page 19 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 13 - Stockholders' Equity - refer to page 28 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 14 - Pension Plans and Other Post Employment Benefits - refer to page 30 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 15 - Financial Instruments - refer to page 31 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 16 - Fair Value Measurements - refer to page 37 of the Corteva, Inc. interim Consolidated Financial Statements

  • Note 17 - Segment Information - Differences exist between Corteva, Inc. and EIDP; refer to EIDP Note 4 - Segment Information, of the EIDP interim Consolidated Financial Statements, below.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Restatement of Previously Issued Financial Statements

Background

As disclosed in EIDP Note 2 – Related Party Transactions, to the EIDP interim Consolidated Financial Statements, EIDP and Corteva, including certain consolidated subsidiaries, are party to a Master In-House Banking Agreement (“IHB Arrangement”). During management’s review of the financial results for the fourth quarter of 2024, a material misclassification in the EIDP, Inc. Consolidated Statements of Cash Flows was identified. Beginning in the fourth quarter of 2023, and continuing into each of the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2024, cash outflows covering intercompany activities with Corteva, Inc., EIDP's parent company ("Parent"), under the IHB Arrangement were incorrectly reflected within “Cash provided by (used for) operating activities – continuing operations” rather than “Cash provided by (used for) investing and financing activities.” Corteva, Inc. previously confirmed the misclassification was isolated to EIDP's standalone financial statements, and did not impact the consolidated financial statements of Corteva, as intercompany transactions are eliminated upon consolidation. At that time, based on management’s assessment of the materiality of these errors on EIDP's prior period consolidated financial statements under the applicable guidance prescribed by the Securities and Exchange Commission, a conclusion was reached that the errors were material to previously issued EIDP interim and annual Consolidated Statements of Cash Flows.

The restatement to the March 31, 2024 interim Consolidated Statements of Cash Flows is as follows:

Restated Interim Consolidated Statements of Cash Flows

For the Three Months Ended March 31, 2024
(In millions)As ReportedAdjustmentAs Restated
Cash provided by (used for) operating activities - continuing operations$(2,972)$362$(2,610)
Cash provided by (used for) operating activities$(2,975)$362$(2,613)
Cash provided by (used for) investing activities$(270)$(362)$(632)

NOTE 2 - RELATED PARTY TRANSACTIONS

Transactions with Corteva

EIDP and Corteva, including certain consolidated subsidiaries (collectively the “Participating Companies”), are party to a Master In-House Banking Agreement, which established banking arrangements to facilitate the management of the cash and liquidity needs of the Participating Companies. Historically, in periods where EIDP had a net amount due from Corteva, Inc., EIDP classified the amount within other assets given Corteva, Inc. had both the ability and intent to repay the amounts due. Beginning in the fourth quarter of 2024, Corteva, Inc.'s intent to repay the amounts due changed and therefore, borrowings under this agreement are now classified within equity of EIDP. As of March 31, 2025 and December 31, 2024, EIDP had a due from Parent of $— million and $129 million, respectively, classified within the equity section of EIDP’s Consolidated Balance Sheets. In addition, EIDP issued dividends to Corteva, Inc. amounting to $513 million and $1,750 million, respectively, during the first quarter of 2025 and fourth quarter of 2024, which were utilized by Corteva, Inc. to repay amounts due to EIDP.

EIDP had due from parent of $746 million related to the Master In-House Banking Agreement included in other assets in EIDP's interim Consolidated Balance Sheets as of March 31, 2024. Additionally, EIDP earned interest income from Corteva, Inc. of $7 million under this agreement for the three months ended March 31, 2024, which is reflected as other income (expense) - net in EIDP's interim Consolidated Statements of Operations.

As of March 31, 2025, December 31, 2024 and March 31, 2024, EIDP had payables to Corteva, Inc., of $17 million, $9 million and $24 million included in accrued and other current liabilities, respectively, and $149 million, $149 million and $148 million, included in other noncurrent obligations, respectively, in the interim Consolidated Balance Sheets related to Corteva's indemnification liabilities to Dow and DuPont per the Separation Agreements (refer to page 20 of the Corteva, Inc. interim Consolidated Financial Statements for further details of the Separation Agreements).

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 3 - INCOME TAXES

Refer to page 14 of the Corteva, Inc. Interim Consolidated Financial Statements for discussion of tax items that do not differ between Corteva, Inc. and EIDP.

The effective tax rate was 14.9 percent and 22.1 percent for the three months ended March 31, 2025 and 2024, respectively.

EIDP's effective tax rates for the three months ended March 31, 2025 and 2024 were driven by the net tax benefits discussed on page 14 of the Corteva, Inc. Interim Consolidated Financial Statements.

NOTE 4 - SEGMENT INFORMATION

There are no differences in reporting structure or segments between Corteva, Inc. and EIDP. In addition, there are no differences between Corteva, Inc. and EIDP segment net sales, segment operating EBITDA, segment assets, or significant items by segment; refer to page 37 of the Corteva, Inc. interim Consolidated Financial Statements for background information on the segments as well as further details regarding segment metrics. The tables below reconcile income (loss) from continuing operations after income taxes to segment operating EBITDA, as differences exist between Corteva, Inc. and EIDP.

Reconciliation to interim Consolidated Financial Statements

Income (loss) from continuing operations after income taxes to segment operating EBITDAThree Months Ended March 31,
(In millions)20252024
Income (loss) from continuing operations after income taxes$667$381
Provision for (benefit from) income taxes on continuing operations117108
Income (loss) from continuing operations before income taxes$784$489
Depreciation and amortization296307
Interest income(32)(35)
Interest expense3641
Exchange (gains) losses - net2759
Non-operating (benefits) costs - net1052
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges91
Significant items (benefit) charge59127
Corporate expenses3024
Segment operating EBITDA$1,219$1,065

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