What the changes say
- Corteva plans to spin off its seed and crop protection businesses into two standalone public companies.
- Antitrust scrutiny has shifted toward a new executive order targeting food supply chain price fixing.
- Government staffing cuts at agencies like the EPA and USDA threaten regulatory approval timelines for seeds and pesticides.
What changed since the prior 10-K
New
- NewRisks Related to Our Industry
these sites continue to be monitored, investigated and remediated for soil and groundwater contamination, as applicable
Evolving environmental and climate regulations could impose significant unanticipated costs or liabilities exceeding Corteva's accruals for monitored sites.
- NewRisks Related to Our Industry
Recent funding and staff reductions, including at the EPA, the USDA, the FDA and the U.S. Department of Health and Human Services ("HHS"), could hinder our ability to receive timely regulatory approvals
Staff and funding reductions at the EPA, USDA, FDA, and HHS could delay regulatory approvals for genetically modified seeds and crop protection products.
- NewRisks Related to Our Intellectual Property
DuPont or Dow, as applicable, fails to fulfill its obligations or chooses to not enforce the licensed patents, trade secrets or know-how under the Intellectual Property Cross-License Agreements, the company may not be able to prevent competitors from making, using and selling competitive products and services
Field-of-use restrictions and failure by DuPont or Dow to enforce cross-licensed intellectual property could allow competitors to introduce products faster.
- NewRisks related to our Proposed Separation
Corteva is subject to risks related to its plans to separate its seed and crop protection businesses in a spin-off that will result in two standalone public companies, including that the proposed separation may not be completed on the contemplated timeline or at all and may not achieve the intended benefits
Corteva's plan to separate its seed and crop protection businesses into two public companies may not be completed on schedule or achieve intended tax-free benefits.
Dropped
- DroppedRisks Related to Our Operations
EIDP has identified a material weakness in its internal control over financial reporting, which could negatively impact the accurate and timely reporting of its results of operations and financial condition
- DroppedRisks Related to The Separation
DuPont is currently disputing with Corteva certain provisions of the Separation Agreement and Tax Matters Agreement
Reworded
- 68% rewrittenRisks Related to Our Intellectual Property
Restrictions under the intellectual property cross-license agreements limit Corteva’s ability to develop and commercialize certain products and services and/or prosecute, maintain and enforce certain intellectual property
Updated to clarify cross-license restrictions affecting Corteva's ability to develop, commercialize, and enforce intellectual property.
- 62% rewrittenRisks Related to Our Industry
Corteva’s business is subject to various competition and antitrust, rules and regulations around the world, and as the size of its business grows, scrutiny of its business by legislators and regulators in these areas may intensify
Replaced reference to the 2021 Biden executive order with the December 2025 Trump executive order on food supply chain price fixing.
- 57% rewrittenRisks Related to Our Operations
Increases in pension and other post-employment benefit plan funding obligations may adversely affect Corteva’s results of operations, liquidity or financial condition
Updated 2026 expected funding obligations to include approximately $100 million for other post-employment benefit plans.
- 32% rewrittenRisks Related to Our Industry
Changes in agricultural and related policies of governments and international organizations may prove unfavorable
Added that government programs and financial support for farmers can be temporary in nature.
- 23% rewrittenRisks Related to Our Operations
Corteva’s operations outside the United States are subject to risks and restrictions, which could negatively affect Corteva’s business, results of operations and financial condition
Retained standard international operating risks without altering core risk text.
All 30 risk factors
Headings as the filing states them, in filing order.
Risks Related to Our Industry
- 01Corteva may not be able to obtain or maintain the necessary regulatory approvals for some of its products, including its seed and crop protection products, which could restrict its ability to sell those products in some markets
- 02Regulatory and legislative requirements affect the development, manufacture and distribution of Corteva’s products, including the testing and planting of seeds containing Corteva’s biotechnology traits and the import of crops grown from those seeds, and non-compliance can harm Corteva’s sales and profitability
- 03The successful development and commercialization of Corteva's pipeline products will be necessary for Corteva's growth
- 04ITEM 1A. RISK FACTORS, continued
- 05The degree of public understanding and acceptance or perceived public acceptance of Corteva’s biotechnology and other agricultural products and technologies can affect Corteva’s sales and results of operations by affecting planting approvals, regulatory requirements and customer purchase decisions
- 06Corteva’s business is subject to various competition and antitrust, rules and regulations around the world, and as the size of its business grows, scrutiny of its business by legislators and regulators in these areas may intensify62% rewritten
- 07Changes in agricultural and related policies of governments and international organizations may prove unfavorable32% rewritten
- 08these sites continue to be monitored, investigated and remediated for soil and groundwater contamination, as applicableNew
- 09Climate change and unpredictable seasonal and weather factors could impact Corteva’s sales and earnings
- 10Corteva participates in an industry that is highly competitive and has undergone consolidation, which could increase competitive pressures
- 11Recent funding and staff reductions, including at the EPA, the USDA, the FDA and the U.S. Department of Health and Human Services ("HHS"), could hinder our ability to receive timely regulatory approvalsNew
- 12Corteva’s sales to its customers may be adversely affected should a company successfully establish an intermediary platform for the sale of Corteva’s products or otherwise position itself between Corteva and its customers
Risks Related to Our Operations
- 13Our business, financial condition and results of operations could be materially affected by disruptions in the global economy caused by geopolitical and military conflicts
- 14Volatility in Corteva’s input costs, which include raw materials and production costs, could have a significant impact on Corteva’s business, results of operations and financial condition
- 15Corteva’s operations outside the United States are subject to risks and restrictions, which could negatively affect Corteva’s business, results of operations and financial condition23% rewritten
- 16Corteva’s business, results of operations and financial condition could be adversely affected by industrial espionage and other disruptions to its supply chain, information technology or network systems
- 17Corteva’s business, results of operations and financial condition could be adversely affected by environmental, litigation and other commitments and contingencies
- 18Corteva is dependent on its relationships or contracts with third parties with respect to certain of its raw materials or licenses and commercialization
- 19Corteva’s customers may be unable to pay their debts to Corteva, which could adversely affect Corteva’s results
- 20Failure to effectively manage acquisitions, divestitures, strategic investments, restructurings, cost savings initiatives and other portfolio actions may not have the results anticipated
- 21Corteva’s liquidity, business, results of operations and financial condition could be impaired if it is unable to raise capital through the capital markets or short-term debt borrowings
- 22Increases in pension and other post-employment benefit plan funding obligations may adversely affect Corteva’s results of operations, liquidity or financial condition57% rewritten
- 23Global or regional health pandemics or epidemics could negatively impact the company's business, financial condition and results of operations
- 24Sentiment towards sustainability matters could adversely affect our stock price, results of operations, and access to capital
Risks Related to Our Intellectual Property
- 25Enforcing Corteva’s intellectual property rights, or defending against intellectual property claims asserted by others, could materially affect Corteva’s business, results of operations and financial condition
- 26Corteva’s business may be adversely affected by the availability of counterfeit products
- 27Restrictions under the intellectual property cross-license agreements limit Corteva’s ability to develop and commercialize certain products and services and/or prosecute, maintain and enforce certain intellectual property68% rewritten
- 28DuPont or Dow, as applicable, fails to fulfill its obligations or chooses to not enforce the licensed patents, trade secrets or know-how under the Intellectual Property Cross-License Agreements, the company may not be able to prevent competitors from making, using and selling competitive products and servicesNew
Risks Related to the Corteva Separation
- 29The company is subject to continuing contingent tax-related liabilities of DowDuPont following the Distribution
Risks related to our Proposed Separation
- 30Corteva is subject to risks related to its plans to separate its seed and crop protection businesses in a spin-off that will result in two standalone public companies, including that the proposed separation may not be completed on the contemplated timeline or at all and may not achieve the intended benefitsNew
Other Corteva 10-Ks
- FY2024 10-K risk factors28 risks
Regulatory approval hurdles and compliance demands dominate seed and crop protection product commercialization. Complex separation agreements and tax liabilities tied to DuPont and Dow create ongoing financial risks. Intellectual property protection, patent expirations, and competitive pressures significantly impact market positioning.
Filed Feb 14, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.