Corteva Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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Earnings Per Share of Common Stock
NOTE 8 -EARNINGS PER SHARE OF COMMON STOCK
The following tables provide earnings per share calculations for the periods indicated below:
| Net Income (Loss) for Earnings (Loss) Per Share Calculations - Basic and Diluted | Three Months Ended March 31, | |
|---|---|---|
| (In millions) | 2024 | 2023 |
| Income (loss) from continuing operations after income taxes | $376 | $607 |
| Net income (loss) attributable to continuing operations noncontrolling interests | 4 | 4 |
| Income (loss) from continuing operations available to Corteva common stockholders | 372 | 603 |
| Income (loss) from discontinued operations available to Corteva common stockholders | 47 | (8) |
| Net income (loss) available to common stockholders | $419 | $595 |
| Earnings (Loss) Per Share Calculations - Basic | Three Months Ended March 31, | |
|---|---|---|
| (Dollars per share) | 2024 | 2023 |
| Earnings (loss) per share of common stock from continuing operations | $0.53 | $0.85 |
| Earnings (loss) per share of common stock from discontinued operations | 0.07 | (0.01) |
| Earnings (loss) per share of common stock | $0.60 | $0.84 |
| Earnings (Loss) Per Share Calculations - Diluted | Three Months Ended March 31, | |
|---|---|---|
| (Dollars per share) | 2024 | 2023 |
| Earnings (loss) per share of common stock from continuing operations | $0.53 | $0.84 |
| Earnings (loss) per share of common stock from discontinued operations | 0.07 | (0.01) |
| Earnings (loss) per share of common stock | $0.60 | $0.83 |
| Share Count Information | Three Months Ended March 31, | |
|---|---|---|
| (Shares in millions) | 2024 | 2023 |
| Weighted-average common shares - basic | 700.4 | 712.9 |
| Plus dilutive effect of equity compensation plans1 | 2.4 | 3.3 |
| Weighted-average common shares - diluted | 702.8 | 716.2 |
| Potential shares of common stock excluded from EPS calculations2 | 3.6 | 2.7 |
Diluted earnings (loss) per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.
These outstanding potential shares of common stock relating to stock options, restricted stock units and performance-based restricted stock units were excluded from the calculation of diluted earnings (loss) per share because (i) the effect of including them would have been anti-dilutive; and (ii) the performance metrics have not yet been achieved for the outstanding potential shares relating to performance-based restricted stock units, which are deemed to be contingently issuable.
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