CTVAMEDIUM SIGNALFINANCIAL10-K

Corteva demonstrated strong operational improvements with operating cash flow surging 58.8% to $3.4B while reducing debt and capital expenditures.

The substantial increase in operating cash flow combined with reduced debt levels suggests improved operational efficiency and stronger cash generation capabilities. However, the 16.7% increase in current liabilities warrants monitoring to ensure it doesn't signal underlying operational pressures or working capital management issues.

Comparing 2026-02-12 vs 2025-02-14View on EDGAR →
FINANCIAL ANALYSIS

Corteva showed strong financial performance across key metrics, with operating cash flow jumping 58.8% to $3.4B and net income growing 20.6% to $1.1B, while the company reduced capital expenditures by 22.5% and total debt by 13.7%. Cash and equivalents increased substantially by 45.6% to $4.5B, though current liabilities also rose 16.7% to $12.1B. Overall, the financial picture signals improved profitability and cash generation with a stronger balance sheet, though the liability increase requires attention.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+58.8%
$2.1B$3.4B

Operating cash flow surged 58.8% — exceptional cash generation, highest quality earnings signal.

Cash & Equivalents
Balance Sheet
+45.6%
$3.1B$4.5B

Cash position surged 45.6% — strong cash generation or capital raise providing significant financial cushion.

Capital Expenditure
Cash Flow
-22.5%
$1.5B$1.2B

Capex reduced 22.5% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Net Income
P&L
+20.6%
$907.0M$1.1B

Net income grew 20.6% — bottom-line growth signals improving overall business health.

Current Liabilities
Balance Sheet
+16.7%
$10.4B$12.1B

Current liabilities rose 16.7% — increased short-term obligations, watch current ratio.

Current Assets
Balance Sheet
+14.8%
$15.1B$17.3B

Current assets grew 14.8% — improving short-term liquidity or inventory/receivables build.

Total Debt
Balance Sheet
-13.7%
$2.0B$1.7B

Debt reduced 13.7% — deleveraging strengthens balance sheet and reduces financial risk.

LANGUAGE CHANGES
NEW — 2026-02-12
PRIOR — 2025-02-14
ADDED
Employer Identification No.) 9330 Zionsville Road, Indianapolis, Indiana 46268 (833) 267-8382 1000 N.
West Street, Suite 900, Wilmington, Delaware 19801 (Address of Principal Executive Offices) (Zip Code) (Registrant s Telephone Number, including area code) Commission File Number 1-815 EIDP, Inc.
Employer Identification No.) 9330 Zionsville Road, Indianapolis, Indiana 46268 (833) 267-8382 1000 N.
held by non-affiliates of the registrant (excludes outstanding shares beneficially owned by directors and officers and treasury shares) as of June 30, 2025 was $ 50.6 billion.
As of February 5, 2026, 672,524,000 shares of Corteva, Inc.'s common stock, $ 0.01 par value, were outstanding.
and the associated interest expense for EIDP through its repayment date in the fourth quarter of 2023; a Master In-House Banking Agreement between EIDP and Corteva, Inc., including certain consolidated subsidiaries, and the associated interest income for EIDP; EIDP dividends declared to Corteva, Inc.
Footnotes of EIDP that are identical to that of Corteva, Inc.
and its subsidiaries prior to the Corteva Separation (as defined below); "Historical Dow" refers to The Dow Chemical Company and its consolidated subsidiaries prior to the Internal Reorganization (as defined in Note 1 - Background and Basis of Presentation, to the Consolidated Financial Statements); "Historical DuPont" and "Historical EID" refers to EIDP prior to the Internal Reorganization; "Dow" refers to Dow Inc.
after the Corteva Separation; and "Merger" refers to the all-stock merger of equals strategic combination between Historical Dow and Historical DuPont.
had engaged in no business operations and had no assets or liabilities of any kind, other than those incident to its formation by DowDuPont.
REMOVED
Employer Identification No.) 9330 Zionsville Road, Indianapolis, Indiana 46268 (833) 267-8382 974 Centre Road, Wilmington, Delaware 19805 (Address of Principal Executive Offices) (Zip Code) (Registrant s Telephone Number, including area code) Commission File Number 1-815 EIDP, Inc.
held by non-affiliates of the registrant (excludes outstanding shares beneficially owned by directors and officers and treasury shares) as of June 30, 2024 was $ 37.4 billion.
As of February 7, 2025, 685,556,000 shares of Corteva, Inc.'s common stock, $ 0.01 par value, were outstanding.
and the associated interest expense for EIDP through its repayment date in the fourth quarter of 2023, a Master In-House Banking Agreement between EIDP and Corteva, Inc., including certain consolidated subsidiaries, and the associated interest income for EIDP, and the capital structure of Corteva.
Footnotes of EIDP that are identical to that of Corteva are cross-referenced accordingly.
Refer to the EIDP Explanatory Note at page F-68 and EIDP Note 1 Basis of Presentation, of the EIDP Consolidated Financial Statements, for discussion regarding EIDP s restatement for the misclassification of intercompany activities between EIDP and Corteva, Inc.
EIDP s parent company, Corteva, has 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; nor did the misclassification have any impact on Corteva s internal control over financial reporting.
and its subsidiaries prior to the Separation (as defined below) of Corteva; "Historical Dow" refers to The Dow Chemical Company and its consolidated subsidiaries prior to the Internal Reorganization as defined below; "Historical DuPont" and "Historical EID" refers to EIDP prior to the Internal Reorganization (as defined below); "Dow" refers to Dow Inc.
after the Separation of Corteva; and "Merger" refers to the all-stock merger of equals strategic combination between Historical Dow and Historical DuPont.
became an independent, publicly traded company through the completed separation (the Separation ) of the agriculture business of DuPont de Nemours, Inc.
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