CTVA · 8-K · 20260806PR338406
Restructuring and Separation Costs
Corteva, Inc. · 2026-08-06 · Importance 57 · Surprise 58 · No source text
Pro forma restructuring and asset-related charges declined from $99 million in 2023 to $70 million in 2024, a $29 million or 29.3% decrease. The pro forma adjustment removed $218 million of 2024 and $237 million of 2023 historical charges associated with the Crop Protection business. Vylor also reported $305 million of separation costs for 2025 and $51 million for the three months ended March 31, 2026, primarily in its operating EBITDA reconciliation.
Key facts
- Vylor expects to incur approximately $270 million of selling, general and administrative separation-related expenses which have not yet been recognized as of the period presented. source
- Separation costs for Year Ended December 31, 2025 included in the reconciliation were $305 million. source
- Management adjustments for Year Ended December 31, 2025 include corporate support functions labor-based reductions of $58 million, one-time and non-recurring expenses associated with the spin-off of $(23) million, and a tax effect of $(8) million. source
- Separation costs for the Three Months Ended March 31, 2026 included in the reconciliation were $51 million. source
- One-time and non-recurring expenses associated with the Separation primarily include costs to establish stand-alone information technology systems and will be incurred subsequent to the date of the Separation. source
- Management adjustments for the Three Months Ended March 31, 2026 include corporate support functions labor-based reductions of $13 million, one-time and non-recurring expenses associated with the spin-off of $(1) million, and a tax effect of $(3) million. source
- Restructuring and asset-related charges—net for Pro Forma Year Ended December 31, 2024 (Vylor) were $70 million (historical $288 million less $218 million for Separation). source
- Restructuring and asset-related charges—net for Pro Forma Year Ended December 31, 2023 (Vylor) were $99 million (historical $336 million less $237 million for Separation). source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | probable | -2.1% | Vylor expects to incur approximately $270 million of selling, general and administrative separation-related expenses which have not yet… |
| operating_income | negative | realized | -0.8% | Separation costs for the Three Months Ended March 31, 2026 included in the reconciliation were $51 million. |