Corteva Inc
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 14, 2025
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Property, Plant and Equipment
NOTE 12 -PROPERTY, PLANT AND EQUIPMENT
| (In millions) | December 31, 2024 | December 31, 2023 |
|---|---|---|
| Land and land improvements | $425 | $440 |
| Buildings | 1,715 | 1,671 |
| Machinery and equipment | 6,472 | 6,315 |
| Construction in progress | 462 | 530 |
| Total property, plant and equipment | $9,074 | $8,956 |
| Accumulated depreciation | (4,975) | (4,669) |
| Total property, plant and equipment - net | $4,099 | $4,287 |
Buildings, machinery and equipment and land improvements are depreciated over useful lives on a straight-line basis ranging from 2 to 25 years. Capitalizable costs associated with computer software for internal use are amortized on a straight-line basis over 2 to 7 years.
| For the Year Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2024 | 2023 | 2022 |
| Depreciation expense | $542 | $528 | $521 |
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