10-Q 1 dd-20210930.htm 10-Q dd-20210930
0001666700falseDecember 312021Q3P5Yhttp://fasb.org/us-gaap/2021-01-31#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2021-01-31#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2021-01-31#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2021-01-31#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesNoncurrent00016667002021-01-012021-09-30xbrli:shares00016667002021-11-01iso4217:USD00016667002021-07-012021-09-3000016667002020-07-012020-09-3000016667002020-01-012020-09-30iso4217:USDxbrli:shares00016667002021-09-3000016667002020-12-3100016667002019-12-3100016667002020-09-300001666700us-gaap:CommonStockMember2019-12-310001666700us-gaap:AdditionalPaidInCapitalMember2019-12-310001666700us-gaap:RetainedEarningsMember2019-12-310001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001666700us-gaap:TreasuryStockMember2019-12-310001666700us-gaap:NoncontrollingInterestMember2019-12-310001666700us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001666700srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001666700us-gaap:RetainedEarningsMember2020-01-012020-09-300001666700us-gaap:NoncontrollingInterestMember2020-01-012020-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300001666700us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-300001666700us-gaap:TreasuryStockMember2020-01-012020-09-300001666700us-gaap:CommonStockMember2020-09-300001666700us-gaap:AdditionalPaidInCapitalMember2020-09-300001666700us-gaap:RetainedEarningsMember2020-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300001666700us-gaap:TreasuryStockMember2020-09-300001666700us-gaap:NoncontrollingInterestMember2020-09-300001666700us-gaap:CommonStockMember2020-12-310001666700us-gaap:AdditionalPaidInCapitalMember2020-12-310001666700us-gaap:RetainedEarningsMember2020-12-310001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001666700us-gaap:TreasuryStockMember2020-12-310001666700us-gaap:NoncontrollingInterestMember2020-12-310001666700us-gaap:RetainedEarningsMember2021-01-012021-09-300001666700us-gaap:NoncontrollingInterestMember2021-01-012021-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001666700us-gaap:AdditionalPaidInCapitalMember2021-01-012021-09-300001666700us-gaap:TreasuryStockMember2021-01-012021-09-300001666700us-gaap:CommonStockMember2021-01-012021-09-300001666700us-gaap:CommonStockMember2021-09-300001666700us-gaap:AdditionalPaidInCapitalMember2021-09-300001666700us-gaap:RetainedEarningsMember2021-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300001666700us-gaap:TreasuryStockMember2021-09-300001666700us-gaap:NoncontrollingInterestMember2021-09-300001666700us-gaap:CommonStockMember2020-06-300001666700us-gaap:AdditionalPaidInCapitalMember2020-06-300001666700us-gaap:RetainedEarningsMember2020-06-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300001666700us-gaap:TreasuryStockMember2020-06-300001666700us-gaap:NoncontrollingInterestMember2020-06-3000016667002020-06-300001666700us-gaap:RetainedEarningsMember2020-07-012020-09-300001666700us-gaap:NoncontrollingInterestMember2020-07-012020-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300001666700us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300001666700us-gaap:CommonStockMember2021-06-300001666700us-gaap:AdditionalPaidInCapitalMember2021-06-300001666700us-gaap:RetainedEarningsMember2021-06-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001666700us-gaap:TreasuryStockMember2021-06-300001666700us-gaap:NoncontrollingInterestMember2021-06-3000016667002021-06-300001666700us-gaap:RetainedEarningsMember2021-07-012021-09-300001666700us-gaap:NoncontrollingInterestMember2021-07-012021-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001666700us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300001666700us-gaap:TreasuryStockMember2021-07-012021-09-30xbrli:pure0001666700dd:LairdPerformanceMaterialsMember2021-07-010001666700dd:LairdPerformanceMaterialsMember2021-07-012021-07-010001666700dd:LairdPerformanceMaterialsMemberus-gaap:MachineryAndEquipmentMember2021-07-010001666700dd:LairdPerformanceMaterialsMemberus-gaap:BuildingAndBuildingImprovementsMember2021-07-010001666700dd:LairdPerformanceMaterialsMemberus-gaap:LeaseholdImprovementsMember2021-07-010001666700dd:LairdPerformanceMaterialsMemberus-gaap:ConstructionInProgressMember2021-07-010001666700us-gaap:LandAndLandImprovementsMemberdd:LairdPerformanceMaterialsMember2021-07-010001666700us-gaap:CustomerRelatedIntangibleAssetsMemberdd:LairdPerformanceMaterialsMember2021-07-012021-07-010001666700us-gaap:DevelopedTechnologyRightsMemberdd:LairdPerformanceMaterialsMember2021-07-012021-07-010001666700dd:LairdPerformanceMaterialsMemberus-gaap:TrademarksAndTradeNamesMember2021-07-012021-07-010001666700dd:LairdPerformanceMaterialsMember2021-01-012021-09-300001666700dd:LairdPerformanceMaterialsMember2021-07-012021-09-300001666700dd:DuPontMember2021-02-010001666700dd:NutritionBiosciencesBusinessMemberdd:NutritionBiosciencesBusinessMember2021-02-010001666700dd:NutritionBiosciencesBusinessMemberus-gaap:SegmentDiscontinuedOperationsMember2021-02-010001666700dd:NutritionBiosciencesBusinessMemberdd:InternationalFlavorsFragrancesIncMemberus-gaap:SegmentDiscontinuedOperationsMember2021-02-010001666700dd:NutritionBiosciencesBusinessMemberus-gaap:SegmentDiscontinuedOperationsMember2020-07-012020-09-300001666700dd:NutritionBiosciencesBusinessMemberus-gaap:SegmentDiscontinuedOperationsMember2021-01-012021-09-300001666700dd:NutritionBiosciencesBusinessMemberus-gaap:SegmentDiscontinuedOperationsMember2020-01-012020-09-300001666700dd:NutritionBiosciencesBusinessMemberus-gaap:SegmentDiscontinuedOperationsMember2020-12-310001666700dd:NutritionBiosciencesBusinessMember2021-02-012021-02-010001666700dd:NBNotesOfferingMemberus-gaap:UnsecuredDebtMember2021-02-010001666700dd:NutritionBiosciencesBusinessMemberdd:NBTermLoanFacilityMember2021-02-010001666700dd:NBSeniorUnsecuredNotesMemberdd:NutritionBiosciencesBusinessMember2020-12-310001666700us-gaap:SegmentDiscontinuedOperationsMember2021-07-012021-09-300001666700us-gaap:SegmentDiscontinuedOperationsMember2021-01-012021-09-300001666700dd:DWDPDistributionsMemberus-gaap:SegmentDiscontinuedOperationsMember2021-07-012021-09-300001666700dd:DWDPDistributionsMemberus-gaap:SegmentDiscontinuedOperationsMember2021-01-012021-09-300001666700srt:ScenarioForecastMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2021-10-012022-10-010001666700us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2021-09-300001666700us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2020-12-310001666700us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2020-07-012020-09-300001666700us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2020-01-012020-09-300001666700dd:SolametBusinessUnitMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2021-06-302021-06-300001666700dd:SolametBusinessUnitMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2021-07-012021-09-300001666700dd:SolametBusinessUnitMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2021-01-012021-09-300001666700dd:TCSHSCMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberdd:NonCoreSegmentMember2020-07-012020-09-300001666700dd:TCSHSCMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberdd:NonCoreSegmentMember2021-07-012021-09-300001666700dd:TCSHSCMembersrt:ScenarioForecastMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberdd:NonCoreSegmentMember2022-09-302023-09-300001666700dd:TCSHSCMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberdd:NonCoreSegmentMember2020-01-012020-09-300001666700us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberdd:CompoundSemiconductorSolutionsBusinessUnitMember2020-01-012020-03-310001666700us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberdd:CompoundSemiconductorSolutionsBusinessUnitMember2020-01-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:IndustrialSolutionsMember2021-07-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:IndustrialSolutionsMember2020-07-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:IndustrialSolutionsMember2021-01-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:IndustrialSolutionsMember2020-01-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:InterconnectSolutionsMember2021-07-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:InterconnectSolutionsMember2020-07-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:InterconnectSolutionsMember2021-01-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:InterconnectSolutionsMember2020-01-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:SemiconductorTechnologiesMember2021-07-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:SemiconductorTechnologiesMember2020-07-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:SemiconductorTechnologiesMember2021-01-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:SemiconductorTechnologiesMember2020-01-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMember2021-07-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMember2020-07-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMember2021-01-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMember2020-01-012020-09-300001666700dd:WaterAndProtectionSegmentMemberdd:SafetySolutionsMember2021-07-012021-09-300001666700dd:WaterAndProtectionSegmentMemberdd:SafetySolutionsMember2020-07-012020-09-300001666700dd:WaterAndProtectionSegmentMemberdd:SafetySolutionsMember2021-01-012021-09-300001666700dd:WaterAndProtectionSegmentMemberdd:SafetySolutionsMember2020-01-012020-09-300001666700dd:WaterAndProtectionSegmentMemberdd:ShelterSolutionsMember2021-07-012021-09-300001666700dd:WaterAndProtectionSegmentMemberdd:ShelterSolutionsMember2020-07-012020-09-300001666700dd:WaterAndProtectionSegmentMemberdd:ShelterSolutionsMember2021-01-012021-09-300001666700dd:WaterAndProtectionSegmentMemberdd:ShelterSolutionsMember2020-01-012020-09-300001666700dd:WaterAndProtectionSegmentMemberdd:WaterSolutionsMember2021-07-012021-09-300001666700dd:WaterAndProtectionSegmentMemberdd:WaterSolutionsMember2020-07-012020-09-300001666700dd:WaterAndProtectionSegmentMemberdd:WaterSolutionsMember2021-01-012021-09-300001666700dd:WaterAndProtectionSegmentMemberdd:WaterSolutionsMember2020-01-012020-09-300001666700dd:WaterAndProtectionSegmentMember2021-07-012021-09-300001666700dd:WaterAndProtectionSegmentMember2020-07-012020-09-300001666700dd:WaterAndProtectionSegmentMember2021-01-012021-09-300001666700dd:WaterAndProtectionSegmentMember2020-01-012020-09-300001666700dd:MobilityAndMaterialsSegmentMemberdd:AdvancedSolutionsMember2021-07-012021-09-300001666700dd:MobilityAndMaterialsSegmentMemberdd:AdvancedSolutionsMember2020-07-012020-09-300001666700dd:MobilityAndMaterialsSegmentMemberdd:AdvancedSolutionsMember2021-01-012021-09-300001666700dd:MobilityAndMaterialsSegmentMemberdd:AdvancedSolutionsMember2020-01-012020-09-300001666700dd:EngineeringPolymersMemberdd:MobilityAndMaterialsSegmentMember2021-07-012021-09-300001666700dd:EngineeringPolymersMemberdd:MobilityAndMaterialsSegmentMember2020-07-012020-09-300001666700dd:EngineeringPolymersMemberdd:MobilityAndMaterialsSegmentMember2021-01-012021-09-300001666700dd:EngineeringPolymersMemberdd:MobilityAndMaterialsSegmentMember2020-01-012020-09-300001666700dd:MobilityAndMaterialsSegmentMemberdd:PerformanceResinsMember2021-07-012021-09-300001666700dd:MobilityAndMaterialsSegmentMemberdd:PerformanceResinsMember2020-07-012020-09-300001666700dd:MobilityAndMaterialsSegmentMemberdd:PerformanceResinsMember2021-01-012021-09-300001666700dd:MobilityAndMaterialsSegmentMemberdd:PerformanceResinsMember2020-01-012020-09-300001666700dd:MobilityAndMaterialsSegmentMember2021-07-012021-09-300001666700dd:MobilityAndMaterialsSegmentMember2020-07-012020-09-300001666700dd:MobilityAndMaterialsSegmentMember2021-01-012021-09-300001666700dd:MobilityAndMaterialsSegmentMember2020-01-012020-09-300001666700us-gaap:CorporateNonSegmentMember2021-07-012021-09-300001666700us-gaap:CorporateNonSegmentMember2020-07-012020-09-300001666700us-gaap:CorporateNonSegmentMember2021-01-012021-09-300001666700us-gaap:CorporateNonSegmentMember2020-01-012020-09-300001666700dd:U.S.CanadaMember2021-07-012021-09-300001666700dd:U.S.CanadaMember2020-07-012020-09-300001666700dd:U.S.CanadaMember2021-01-012021-09-300001666700dd:U.S.CanadaMember2020-01-012020-09-300001666700us-gaap:EMEAMember2021-07-012021-09-300001666700us-gaap:EMEAMember2020-07-012020-09-300001666700us-gaap:EMEAMember2021-01-012021-09-300001666700us-gaap:EMEAMember2020-01-012020-09-300001666700srt:AsiaPacificMember2021-07-012021-09-300001666700srt:AsiaPacificMember2020-07-012020-09-300001666700srt:AsiaPacificMember2021-01-012021-09-300001666700srt:AsiaPacificMember2020-01-012020-09-300001666700srt:LatinAmericaMember2021-07-012021-09-300001666700srt:LatinAmericaMember2020-07-012020-09-300001666700srt:LatinAmericaMember2021-01-012021-09-300001666700srt:LatinAmericaMember2020-01-012020-09-300001666700dd:A2020RestructuringProgramMember2021-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A2020RestructuringProgramMember2021-09-300001666700dd:A2020RestructuringProgramMemberdd:AssetRelatedChargesAndOtherMember2021-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A2020RestructuringProgramMember2021-07-012021-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A2020RestructuringProgramMember2020-07-012020-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A2020RestructuringProgramMember2021-01-012021-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A2020RestructuringProgramMember2020-01-012020-09-300001666700dd:A2020RestructuringProgramMemberdd:AssetRelatedChargesAndOtherMember2021-07-012021-09-300001666700dd:A2020RestructuringProgramMemberdd:AssetRelatedChargesAndOtherMember2020-07-012020-09-300001666700dd:A2020RestructuringProgramMemberdd:AssetRelatedChargesAndOtherMember2021-01-012021-09-300001666700dd:A2020RestructuringProgramMemberdd:AssetRelatedChargesAndOtherMember2020-01-012020-09-300001666700dd:A2020RestructuringProgramMember2021-07-012021-09-300001666700dd:A2020RestructuringProgramMember2020-07-012020-09-300001666700dd:A2020RestructuringProgramMember2021-01-012021-09-300001666700dd:A2020RestructuringProgramMember2020-01-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:A2020RestructuringProgramMember2021-07-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:A2020RestructuringProgramMember2020-07-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:A2020RestructuringProgramMember2021-01-012021-09-300001666700dd:ElectronicsAndIndustrialSegmentMemberdd:A2020RestructuringProgramMember2020-01-012020-09-300001666700dd:WaterAndProtectionSegmentMemberdd:A2020RestructuringProgramMember2021-07-012021-09-300001666700dd:WaterAndProtectionSegmentMemberdd:A2020RestructuringProgramMember2020-07-012020-09-300001666700dd:WaterAndProtectionSegmentMemberdd:A2020RestructuringProgramMember2021-01-012021-09-300001666700dd:WaterAndProtectionSegmentMemberdd:A2020RestructuringProgramMember2020-01-012020-09-300001666700dd:A2020RestructuringProgramMemberdd:MobilityAndMaterialsSegmentMember2021-07-012021-09-300001666700dd:A2020RestructuringProgramMemberdd:MobilityAndMaterialsSegmentMember2020-07-012020-09-300001666700dd:A2020RestructuringProgramMemberdd:MobilityAndMaterialsSegmentMember2021-01-012021-09-300001666700dd:A2020RestructuringProgramMemberdd:MobilityAndMaterialsSegmentMember2020-01-012020-09-300001666700us-gaap:CorporateNonSegmentMemberdd:A2020RestructuringProgramMember2021-07-012021-09-300001666700us-gaap:CorporateNonSegmentMemberdd:A2020RestructuringProgramMember2020-07-012020-09-300001666700us-gaap:CorporateNonSegmentMemberdd:A2020RestructuringProgramMember2021-01-012021-09-300001666700us-gaap:CorporateNonSegmentMemberdd:A2020RestructuringProgramMember2020-01-012020-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A2020RestructuringProgramMember2020-12-310001666700dd:A2020RestructuringProgramMemberdd:AssetRelatedChargesAndOtherMember2020-12-310001666700dd:A2020RestructuringProgramMember2020-12-310001666700dd:A2019RestructuringProgramMember2021-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A2019RestructuringProgramMember2021-09-300001666700dd:A2019RestructuringProgramMemberdd:AssetRelatedChargesAndOtherMember2021-09-300001666700dd:A2019RestructuringProgramMember2020-12-310001666700dd:DowDuPontCostSynergyProgramMember2021-09-300001666700us-gaap:EmployeeSeveranceMemberdd:DowDuPontCostSynergyProgramMember2021-09-300001666700dd:DowDuPontCostSynergyProgramMemberdd:AssetRelatedChargesAndOtherMember2021-09-300001666700dd:DowDuPontCostSynergyProgramMemberus-gaap:ContractTerminationMember2021-09-300001666700dd:DowDuPontCostSynergyProgramMember2020-12-310001666700us-gaap:EmployeeSeveranceMemberdd:OtherRestructuringActionsMemberus-gaap:SubsequentEventMember2021-10-310001666700dd:MobilityAndMaterialsSegmentMemberdd:FiniteLivedIntangibleAssetsAndPropertyPlantAndEquipmentMember2020-07-012020-09-300001666700dd:MobilityAndMaterialsSegmentMemberdd:FiniteLivedIntangibleAssetsAndPropertyPlantAndEquipmentMember2020-01-012020-09-300001666700us-gaap:CorporateNonSegmentMemberus-gaap:IndefinitelivedIntangibleAssetsMember2020-07-012020-09-300001666700us-gaap:CorporateNonSegmentMemberus-gaap:IndefinitelivedIntangibleAssetsMember2020-01-012020-09-300001666700dd:MobilityAndMaterialsSegmentMember2020-04-012020-06-300001666700dd:BiomaterialsBusinessUnitMember2020-01-012020-09-300001666700dd:ChestnutRunMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2021-01-012021-09-300001666700dd:PaymentsDueAnnuallyBeginningSeptember2023Memberdd:DuPontandCortevaMember2021-09-300001666700us-gaap:LandAndLandImprovementsMembersrt:MinimumMember2021-01-012021-09-300001666700srt:MaximumMemberus-gaap:LandAndLandImprovementsMember2021-01-012021-09-300001666700us-gaap:LandAndLandImprovementsMember2021-09-300001666700us-gaap:LandAndLandImprovementsMember2020-12-310001666700us-gaap:BuildingMembersrt:MinimumMember2021-01-012021-09-300001666700srt:MaximumMemberus-gaap:BuildingMember2021-01-012021-09-300001666700us-gaap:BuildingMember2021-09-300001666700us-gaap:BuildingMember2020-12-310001666700us-gaap:MachineryAndEquipmentMembersrt:MinimumMember2021-01-012021-09-300001666700srt:MaximumMemberus-gaap:MachineryAndEquipmentMember2021-01-012021-09-300001666700us-gaap:MachineryAndEquipmentMember2021-09-300001666700us-gaap:MachineryAndEquipmentMember2020-12-310001666700us-gaap:ConstructionInProgressMember2021-09-300001666700us-gaap:ConstructionInProgressMember2020-12-31dd:affiliate0001666700us-gaap:RevenueFromContractWithCustomerMemberus-gaap:EquityMethodInvesteeMemberus-gaap:CustomerConcentrationRiskMember2021-07-012021-09-300001666700us-gaap:RevenueFromContractWithCustomerMemberus-gaap:EquityMethodInvesteeMemberus-gaap:CustomerConcentrationRiskMember2020-07-012020-09-300001666700us-gaap:RevenueFromContractWithCustomerMemberus-gaap:EquityMethodInvesteeMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-09-300001666700us-gaap:RevenueFromContractWithCustomerMemberus-gaap:EquityMethodInvesteeMemberus-gaap:CustomerConcentrationRiskMember2020-01-012020-09-300001666700us-gaap:EquityMethodInvesteeMemberus-gaap:CostOfGoodsTotalMemberus-gaap:SupplierConcentrationRiskMember2021-07-012021-09-300001666700us-gaap:EquityMethodInvesteeMemberus-gaap:CostOfGoodsTotalMemberus-gaap:SupplierConcentrationRiskMember2021-01-012021-09-300001666700us-gaap:EquityMethodInvesteeMemberus-gaap:CostOfGoodsTotalMemberus-gaap:SupplierConcentrationRiskMember2020-07-012020-09-300001666700us-gaap:EquityMethodInvesteeMemberus-gaap:CostOfGoodsTotalMemberus-gaap:SupplierConcentrationRiskMember2020-01-012020-09-300001666700dd:ElectronicsAndIndustrialSegmentMember2020-12-310001666700dd:WaterAndProtectionSegmentMember2020-12-310001666700dd:MobilityAndMaterialsSegmentMember2020-12-310001666700dd:ElectronicsAndIndustrialSegmentMember2021-09-300001666700dd:WaterAndProtectionSegmentMember2021-09-300001666700dd:MobilityAndMaterialsSegmentMember2021-09-300001666700dd:MobilityAndMaterialsAndIndustrialSolutionsReportingUnitsMember2020-04-012020-06-3000016667002020-01-012020-03-310001666700us-gaap:DevelopedTechnologyRightsMember2021-09-300001666700us-gaap:DevelopedTechnologyRightsMember2020-12-310001666700us-gaap:TrademarksAndTradeNamesMember2021-09-300001666700us-gaap:TrademarksAndTradeNamesMember2020-12-310001666700us-gaap:CustomerRelatedIntangibleAssetsMember2021-09-300001666700us-gaap:CustomerRelatedIntangibleAssetsMember2020-12-310001666700us-gaap:OtherIntangibleAssetsMember2021-09-300001666700us-gaap:OtherIntangibleAssetsMember2020-12-310001666700us-gaap:TrademarksAndTradeNamesMember2021-09-300001666700us-gaap:TrademarksAndTradeNamesMember2020-12-310001666700dd:MobilityAndMaterialsSegmentMemberus-gaap:TrademarksAndTradeNamesMember2020-09-300001666700us-gaap:LoansPayableMemberdd:PromissoryNotesAndDebenturesFinalMaturity2023Member2021-09-300001666700us-gaap:LoansPayableMemberdd:PromissoryNotesAndDebenturesFinalMaturity2023Member2020-12-310001666700dd:PromissoryNotesAndDebenturesFinalMaturity2025Memberus-gaap:LoansPayableMember2021-09-300001666700dd:PromissoryNotesAndDebenturesFinalMaturity2025Memberus-gaap:LoansPayableMember2020-12-310001666700dd:PromissoryNotesAndDebenturesFinalMaturity2026AndThereafterMemberus-gaap:LoansPayableMember2021-09-300001666700dd:PromissoryNotesAndDebenturesFinalMaturity2026AndThereafterMemberus-gaap:LoansPayableMember2020-12-310001666700dd:TermLoanFacilityMember2021-09-300001666700dd:TermLoanFacilityMember2021-09-300001666700dd:TermLoanFacilityMember2020-12-310001666700dd:TermLoanFacilityMember2020-12-310001666700us-gaap:SeniorNotesMemberdd:SeniorUnsecuredNotesDue2023Member2020-12-310001666700us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300001666700us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310001666700us-gaap:RevolvingCreditFacilityMemberdd:RevolvingCreditFacilityFiveYearMember2021-01-012021-09-300001666700dd:RevolvingCreditFacilityFiveYearMember2021-09-300001666700us-gaap:RevolvingCreditFacilityMemberdd:A1BRevolvingCreditFacilityMember2021-01-012021-09-300001666700us-gaap:RevolvingCreditFacilityMemberdd:A1BRevolvingCreditFacilityMember2021-09-300001666700us-gaap:SeniorNotesMemberdd:SeniorUnsecuredNotesDue2023Member2020-05-010001666700dd:TermLoanFacilityMember2021-02-010001666700us-gaap:RevolvingCreditFacilityMember2021-01-012021-09-300001666700dd:AccountsAndNotesReceivableOtherMember2021-09-300001666700dd:DeferredChargesAndOtherAssetsMember2021-09-300001666700dd:AccruedAndOtherCurrentLiabilitiesMember2021-09-300001666700dd:OtherNoncurrentObligationsMember2021-09-300001666700dd:ChemoursMember2021-09-300001666700dd:DuPontandCortevaMember2021-09-300001666700dd:ChemoursMemberdd:PaymentsDueSeptember2021September2022Member2021-09-300001666700dd:DuPontandCortevaMemberdd:PaymentsDueSeptember2021September2022Member2021-09-300001666700dd:PaymentsDueAnnuallyBeginningSeptember2023Memberdd:ChemoursMember2021-09-300001666700dd:PaymentsDueSeptember2021September2022Memberdd:DuPontMember2021-09-300001666700dd:DuPontandCortevaMember2021-09-300001666700dd:DuPontMember2021-09-300001666700dd:CortevaMember2021-09-300001666700dd:MOUAgreementMemberdd:AccruedAndOtherCurrentLiabilitiesMember2021-09-300001666700dd:MOUAgreementMemberdd:AccruedAndOtherCurrentLiabilitiesMember2020-12-310001666700dd:OtherNoncurrentObligationsMemberdd:MOUAgreementMember2021-09-300001666700dd:OtherNoncurrentObligationsMemberdd:MOUAgreementMember2020-12-310001666700dd:MOUAgreementMember2021-09-300001666700dd:MOUAgreementMember2020-12-310001666700dd:ChemoursMemberus-gaap:IndemnificationGuaranteeMemberdd:FayettevilleMember2021-09-300001666700dd:PFOAMultiDistrictLitigationMDLMemberdd:DuPontMemberdd:PFOAMattersMember2020-01-012020-12-310001666700dd:EIDMemberdd:PFOAMultiDistrictLitigationMDLMemberdd:PFOAMattersMember2020-01-012020-12-310001666700dd:CortevaMemberdd:StateOfDelawareMember2021-01-012021-09-300001666700dd:StateOfDelawareMemberdd:DuPontMember2021-01-012021-09-300001666700dd:PFOAMultiDistrictLitigationMDLMemberdd:HistoricalEIDAndChemoursMemberdd:PFOAMattersMember2017-01-012017-12-31dd:plaintiff0001666700dd:PFOAMultiDistrictLitigationMDLMemberdd:HistoricalEIDMemberdd:PFOAMattersMember2017-01-012017-12-31dd:case0001666700dd:PFOAMultiDistrictLitigationMDLMember2017-12-310001666700dd:PFOAMultiDistrictLitigationMDLMemberdd:PFOAMattersMember2021-01-212021-01-210001666700dd:ChemoursMemberdd:PFOAMultiDistrictLitigationMDLMemberdd:PFOAMattersMember2021-01-212021-01-210001666700dd:Abbottvs.HistoricalEIDMemberdd:EIDMember2020-03-012020-03-310001666700dd:Abbottvs.HistoricalEIDMemberdd:EIDMemberus-gaap:JudicialRulingMember2020-03-310001666700dd:Abbottvs.HistoricalEIDMemberdd:EIDMemberus-gaap:JudicialRulingMember2021-03-310001666700dd:Abbottvs.HistoricalEIDMemberdd:EIDMemberus-gaap:JudicialRulingMember2021-03-012021-03-310001666700dd:ChemoursMemberdd:StateOfDelawareMember2021-07-012021-07-310001666700dd:StateOfDelawareMember2021-07-012021-07-310001666700dd:SupplementalSettlementMemberdd:StateOfDelawareMember2021-07-012021-07-310001666700dd:ChemoursMemberdd:SupplementalSettlementMemberdd:StateOfDelawareMember2021-07-012021-07-310001666700dd:DuPontandCortevaMemberdd:SupplementalSettlementMemberdd:StateOfDelawareMember2021-07-012021-07-310001666700dd:FirefightingFoamWaterContaminationMemberdd:HistoricalEIDAndChemoursMember2021-09-300001666700dd:FirefighterFoamCasesMemberdd:HistoricalEIDAndChemoursMember2021-09-300001666700stpr:NCdd:HistoricalEIDAndChemoursMemberdd:PFOAMattersMember2021-01-012021-09-300001666700stpr:NCdd:ChemoursEIDCortevaAndDuPontMemberdd:PFOAMattersMember2021-01-012021-09-300001666700dd:RetainedAndAssumedAtDivestitureMember2021-09-300001666700dd:RetainedAndAssumedAtDivestitureMember2020-12-310001666700dd:DowCortevaMemberus-gaap:IndemnificationGuaranteeMember2021-09-300001666700dd:DowCortevaMemberus-gaap:IndemnificationGuaranteeMember2020-12-310001666700dd:DowCortevaMember2021-09-300001666700dd:ChemoursMemberus-gaap:IndemnificationGuaranteeMember2021-09-300001666700dd:ChemoursMemberus-gaap:IndemnificationGuaranteeMember2020-12-310001666700dd:ChemoursMember2021-09-300001666700dd:CustomerandSupplierGuaranteeBankBorrowingsMember2021-09-300001666700dd:EquityAffiliatesGuaranteeBankBorrowingsMember2021-09-300001666700dd:A2019ShareBuybackProgramMember2019-06-010001666700dd:A2019ShareBuybackProgramMember2019-06-012021-09-300001666700dd:A2021ShareBuybackProgramMember2021-03-310001666700dd:A2021ShareBuybackProgramMember2021-07-012021-09-300001666700dd:A2021ShareBuybackProgramMember2021-01-012021-09-300001666700us-gaap:AccumulatedTranslationAdjustmentMember2019-12-310001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-310001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2019-12-310001666700us-gaap:AccumulatedTranslationAdjustmentMember2020-01-012020-09-300001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-09-300001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-09-300001666700us-gaap:AccumulatedTranslationAdjustmentMember2020-09-300001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-09-300001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-09-300001666700us-gaap:AccumulatedTranslationAdjustmentMember2020-12-310001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310001666700us-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-09-300001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-09-300001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-09-300001666700us-gaap:AccumulatedTranslationAdjustmentMemberdd:NBSegmentMember2021-01-012021-09-300001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberdd:NBSegmentMember2021-01-012021-09-300001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberdd:NBSegmentMember2021-01-012021-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMemberdd:NBSegmentMember2021-01-012021-09-300001666700us-gaap:AccumulatedTranslationAdjustmentMember2021-09-300001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-09-300001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedTranslationAdjustmentMember2021-07-012021-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedTranslationAdjustmentMember2020-07-012020-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedTranslationAdjustmentMember2020-01-012020-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-07-012021-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-07-012020-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-07-012021-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-07-012020-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001666700dd:TotalCompanyMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300001666700dd:NutritionAndBiosciencesSegmentMemberus-gaap:SegmentDiscontinuedOperationsMember2021-02-010001666700us-gaap:PensionPlansDefinedBenefitMember2021-07-012021-09-300001666700us-gaap:PensionPlansDefinedBenefitMember2020-07-012020-09-300001666700us-gaap:PensionPlansDefinedBenefitMember2021-01-012021-09-300001666700us-gaap:PensionPlansDefinedBenefitMember2020-01-012020-09-300001666700us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:PensionPlansDefinedBenefitMember2021-07-012021-09-300001666700us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:PensionPlansDefinedBenefitMember2020-07-012020-09-300001666700us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:PensionPlansDefinedBenefitMember2021-01-012021-09-300001666700us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:PensionPlansDefinedBenefitMember2020-01-012020-09-300001666700us-gaap:SegmentContinuingOperationsMemberus-gaap:PensionPlansDefinedBenefitMember2021-07-012021-09-300001666700us-gaap:SegmentContinuingOperationsMemberus-gaap:PensionPlansDefinedBenefitMember2020-07-012020-09-300001666700us-gaap:SegmentContinuingOperationsMemberus-gaap:PensionPlansDefinedBenefitMember2021-01-012021-09-300001666700us-gaap:SegmentContinuingOperationsMemberus-gaap:PensionPlansDefinedBenefitMember2020-01-012020-09-300001666700dd:DuPont2020EquityAndIncentivePlanMember2021-09-300001666700dd:DuPontOmnibusIncentivePlanMember2021-09-300001666700us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-03-3100016667002021-01-012021-03-310001666700us-gaap:PerformanceSharesMember2021-01-012021-03-310001666700us-gaap:RestrictedStockUnitsRSUMember2021-07-012021-09-300001666700us-gaap:CashAndCashEquivalentsMemberus-gaap:CashEquivalentsMember2021-09-300001666700us-gaap:CashAndCashEquivalentsMemberus-gaap:CashEquivalentsMember2020-12-310001666700us-gaap:CashAndCashEquivalentsMemberdd:RestrictedCashAndCashEquivalentsMember2021-09-300001666700us-gaap:CashAndCashEquivalentsMemberdd:RestrictedCashAndCashEquivalentsMember2020-12-310001666700us-gaap:NetInvestmentHedgingMember2021-09-300001666700us-gaap:NetInvestmentHedgingMember2020-12-310001666700us-gaap:ForeignExchangeContractMember2021-09-300001666700us-gaap:ForeignExchangeContractMember2020-12-310001666700us-gaap:OtherCurrentAssetsMember2021-09-300001666700dd:RestrictedCashAndCashEquivalentsMember2021-09-300001666700us-gaap:OtherCurrentAssetsMember2020-12-310001666700dd:RestrictedCashAndCashEquivalentsMember2020-12-310001666700us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-09-300001666700us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-12-310001666700us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-30iso4217:EUR0001666700us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-07-012021-09-300001666700us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-01-012021-09-300001666700us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-07-012020-09-300001666700us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-01-012020-09-300001666700us-gaap:NetInvestmentHedgingMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300001666700us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2021-09-300001666700us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2020-12-310001666700us-gaap:SegmentContinuingOperationsMember2021-07-012021-09-300001666700us-gaap:SegmentContinuingOperationsMember2020-07-012020-09-300001666700us-gaap:SegmentContinuingOperationsMember2021-01-012021-09-300001666700us-gaap:SegmentContinuingOperationsMember2020-01-012020-09-300001666700srt:ScenarioForecastMemberdd:RogersCorporationMemberus-gaap:SubsequentEventMember2022-04-012022-06-300001666700us-gaap:BridgeLoanMemberdd:BridgeLetterMemberdd:RogersCorporationMemberus-gaap:SubsequentEventMember2021-11-02

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2021

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 001-38196

DUPONT DE NEMOURS, INC.
(Exact name of registrant as specified in its charter)
Delaware81-1224539
State or other jurisdiction of incorporation or organization(I.R.S. Employer Identification No.)
974 Centre Road
Building 730
Wilmington
Delaware
19805
(Address of Principal Executive Offices)
(Zip Code)

(302) 774-3034
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareDDNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
                                                 Yes ¨ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
                                 Yes ¨ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large Accelerated FilerAccelerated filer¨
Non-accelerated filer¨Smaller reporting company
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨



Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No

The registrant had 518,103,842 shares of common stock, $0.01 par value, outstanding at November 1, 2021.


DuPont de Nemours, Inc.

QUARTERLY REPORT ON FORM 10-Q
For the quarterly period ended September 30, 2021

TABLE OF CONTENTS

PAGE
Item 1.
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 4.
Item 5.
Item 6.

3


DuPont de Nemours, Inc.

Throughout this Quarterly Report on Form 10-Q, except as otherwise noted by the context, the terms "DuPont" or "Company" used herein mean DuPont de Nemours, Inc. and its consolidated subsidiaries. On June 1, 2019, DowDuPont Inc. changed its registered name to DuPont de Nemours, Inc. (“DuPont”) (for certain events prior to June 1, 2019, the Company may be referred to as DowDuPont). Beginning on June 3, 2019, the Company's common stock is traded on the New York Stock Exchange under the ticker symbol "DD."

On April 1, 2019, the Company completed the separation of the materials science business through the spin-off of Dow Inc., (“Dow”) including Dow’s subsidiary The Dow Chemical Company (the “Dow Distribution”). On June 1, 2019, the Company completed the separation of the agriculture business through the spin-off of Corteva, Inc. (“Corteva”) including Corteva’s subsidiary E. I. du Pont de Nemours and Company (“EID”), (the “Corteva Distribution" and together with the Dow Distribution, the “DWDP Distributions”).

On February 1, 2021 the Company completed the divestiture of the Nutrition & Biosciences (“N&B”) business to International Flavors & Fragrance Inc. (“IFF”) in a Reverse Morris Trust transaction (the “N&B Transaction”) that resulted in IFF issuing shares to DuPont stockholders.

The financial position of DuPont as of December 31, 2020 and the results of operations of DuPont for the three and nine months ended September 30, 2021 and 2020 present the historical financial results of N&B as discontinued operations. The cash flows and comprehensive income related to N&B have not been segregated and are included in the interim Consolidated Statements of Cash Flows and interim Consolidated Statements of Comprehensive Income, respectively, for all periods presented. Unless otherwise indicated, the information in the notes to the interim Consolidated Financial Statements refer only to DuPont's continuing operations and do not include discussion of balances or activity of N&B.

On July 1, 2021, DuPont completed the previously announced acquisition of the Laird Performance Materials business, (the “Laird PM Acquisition”).

On November 2, 2021, DuPont announced it has entered into a definitive agreement to acquire Rogers Corporation ("Rogers") for cash, (the “Intended Rogers Acquisition”). The transaction is subject to approval by Rogers shareholders, regulatory approvals and customary closing conditions.

On November 2, 2021, DuPont announced that it has initiated a divestiture process (the “In-Scope M&M Divestiture Process”) related to a substantial portion of its Mobility & Materials segment, (the “In-Scope M&M Businesses”). The outcome of which, including the entry into definitive agreements, is subject to approval of the DuPont Board of Directors.

DuPontTM and all products, unless otherwise noted, denoted with TM, SM or ® are trademarks, service marks or registered trademarks of affiliates of DuPont de Nemours, Inc.

FORWARD-LOOKING STATEMENTS
This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," and similar expressions and variations or negatives of these words.

Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not guarantees of future results. Some of the important factors that could cause DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) in connection with the Intended Rogers Acquisition, the failure to (x) obtain the necessary approval from Rogers shareholders, regulatory approvals, or anticipated tax treatment, or (y) satisfy any of the other conditions to closing; (ii) the possibility that unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies could impact the value, timing or pursuit of the closing of the Intended Rogers Acquisition; (iii) the timing and outcome of the In-Scope M&M Divestiture Process and the risks, costs and ability to realize benefits from the pursuit of any disposition of the In-Scope M&M Businesses resulting therefrom; (iv) the ability to achieve expected benefits, synergies and operating efficiencies in connection with the Laird PM Acquisition within the expected time frames or at all or to successfully integrate Laird PM; (v) ability to achieve anticipated tax treatments in connection with the N&B Transaction, Laird PM
4


Acquisition or the DWDP Distributions; (vi) changes in relevant tax and other laws; (vii) indemnification of certain legacy liabilities of EID in connection with the Corteva Distribution; (viii) risks and costs related to the performance under and impact of the cost sharing arrangement by and between DuPont, Corteva and The Chemours Company related to future eligible PFAS costs; (ix) failure to effectively manage acquisitions, divestitures, alliances, joint ventures and other portfolio changes, including meeting conditions under the Letter Agreement entered in connection with the Corteva Distribution, related to the transfer of certain levels of assets and businesses; (x) uncertainty as to the long-term value of DuPont common stock; (xi) risks and uncertainties related to the novel coronavirus (COVID-19) and the responses thereto (such as voluntary and in some cases, mandatory quarantines as well as shut downs and other restrictions on travel and commercial, social and other activities) on DuPont’s business, results of operations, access to sources of liquidity and financial condition which depend on highly uncertain and unpredictable future developments, including, but not limited to, the duration and spread of the COVID-19 outbreak, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions resume; and (xii) other risks to DuPont's business, operations; each as further discussed in detail in and results of operations as discussed in DuPont’s annual report on Form 10-K for the year ended December 31, 2020 and its subsequent reports on Form 10-Q and Form 8-K. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business or supply chain disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DuPont’s consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
5


PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
DuPont de Nemours, Inc.
Consolidated Statements of Operations

Three Months Ended September 30,  Nine Months Ended September 30,
In millions, except per share amounts (Unaudited)2021202020212020
Net sales$4,271 $3,629 $12,382 $10,588 
Cost of sales2,778 2,417 7,945 7,034 
Research and development expenses152 140 456 466 
Selling, general and administrative expenses475 403 1,390 1,299 
Amortization of intangibles196 172 530 527 
Restructuring and asset related charges - net1 378 13 800 
Goodwill impairment charges 183  3,214 
Acquisition, integration and separation costs29 22 58 161 
Equity in earnings of nonconsolidated affiliates25 29 76 170 
Sundry income (expense) - net8 430 170 631 
Interest expense115 165 390 517 
Income (loss) from continuing operations before income taxes558 208 1,846 (2,629)
Provision for income taxes on continuing operations125 122 308 224 
Income (loss) from continuing operations, net of tax433 86 1,538 (2,853)
(Loss) income from discontinued operations, net of tax(29)(158)4,751 (300)
Net income (loss)404 (72)6,289 (3,153)
Net income attributable to noncontrolling interests13 7 26 20 
Net income (loss) available for DuPont common stockholders$391 $(79)$6,263 $(3,173)
Per common share data:
Earnings (loss) per common share from continuing operations - basic$0.81 $0.11 $2.74 $(3.90)
(Loss) earnings per common share from discontinued operations - basic(0.06)(0.22)8.61 (0.41)
Earnings (loss) per common share - basic$0.75 $(0.11)$11.35 $(4.31)
Earnings (loss) per common share from continuing operations - diluted$0.80 $0.11 $2.73 $(3.90)
(Loss) earnings per common share from discontinued operations - diluted(0.06)(0.21)8.59 (0.41)
Earnings (loss) per common share - diluted$0.75 $(0.11)$11.32 $(4.31)
Weighted-average common shares outstanding - basic521.5 734.4 551.7 735.8 
Weighted-average common shares outstanding - diluted523.1 734.9 553.1 735.8 
See Notes to the Consolidated Financial Statements.
6



DuPont de Nemours, Inc.
Consolidated Statements of Comprehensive Income
Three Months Ended September 30,  Nine Months Ended September 30,
In millions (Unaudited)2021202020212020
Net income (loss)$404 $(72)$6,289 $(3,153)
Other comprehensive (loss) income, net of tax
Cumulative translation adjustments(189)606 (554)547 
Pension and other post-employment benefit plans12 4 23 9 
Derivative instruments20  38  
Split-off of N&B  258  
Total other comprehensive (loss) income(157)610 (235)556 
Comprehensive income (loss)247 538 6,054 (2,597)
Comprehensive income attributable to noncontrolling interests, net of tax12 11 17 19 
Comprehensive income (loss) attributable to DuPont$235 $527 $6,037 $(2,616)
See Notes to the Consolidated Financial Statements.
7



DuPont de Nemours, Inc.
Condensed Consolidated Balance Sheets
In millions, except share amounts (Unaudited)September 30, 2021December 31, 2020
Assets
Current Assets
Cash and cash equivalents
$1,670 $2,544 
Accounts and notes receivable - net
2,908 2,421 
Inventories
2,844 2,393 
Other current assets
225 181 
Assets held for sale850 810 
Assets of discontinued operations 20,659 
Total current assets
8,497 29,008 
Property, plant and equipment - net of accumulated depreciation (September 30, 2021 - $4,599; December 31, 2020 - $4,256)
6,921 6,867 
Other Assets
Goodwill
19,688 18,702 
Other intangible assets
8,644 8,072 
Restricted cash and cash equivalents50 6,206 
Investments and noncurrent receivables1,029 1,047 
Deferred income tax assets
175 190 
Deferred charges and other assets
1,011 812 
Total other assets
30,597 35,029 
Total Assets$46,015 $70,904 
Liabilities and Equity
Current Liabilities
Accounts payable
$2,538 $2,222 
Income taxes payable
206 169 
Accrued and other current liabilities
1,335 1,085 
Liabilities related to assets held for sale142 140 
Liabilities of discontinued operations 8,610 
Total current liabilities
4,221 12,226 
Long-Term Debt10,629 15,611 
Other Noncurrent Liabilities
Deferred income tax liabilities
2,014 2,053 
Pension and other post-employment benefits - noncurrent1,017 1,110 
Other noncurrent obligations
895 834 
Total other noncurrent liabilities
3,926 3,997 
Total Liabilities18,776 31,834 
Commitments and contingent liabilities
Stockholders' Equity
Common stock (authorized 1,666,666,667 shares of $0.01 par value each; issued 2021: 518,103,127 shares; 2020: 734,204,054 shares)
5 7 
Additional paid-in capital
49,702 50,039 
Accumulated deficit(22,892)(11,586)
Accumulated other comprehensive (loss) income(182)44 
Total DuPont stockholders' equity
26,633 38,504 
Noncontrolling interests
606 566 
Total equity
27,239 39,070 
Total Liabilities and Equity$46,015 $70,904 
See Notes to the Consolidated Financial Statements.
8



DuPont de Nemours, Inc.
Consolidated Statements of Cash Flows
Nine Months Ended September 30,
In millions (Unaudited)20212020
Operating Activities
Net income (loss)$6,289 $(3,153)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization1,094 2,326 
Credit for deferred income tax and other tax related items(182)(481)
Earnings of nonconsolidated affiliates in excess of dividends received(41)(120)
Net periodic pension benefit cost1 30 
Pension contributions(59)(77)
Net gain on sales and split-offs of assets, businesses and investments(5,117)(612)
Restructuring and asset related charges - net15 807 
Goodwill impairment charges 3,214 
Inventory step-up amortization 12  
Other net loss126 127 
Changes in assets and liabilities, net of effects of acquired and divested companies:
Accounts and notes receivable(399)133 
Inventories(515)312 
Accounts payable379 43 
Other assets and liabilities, net57 245 
Cash provided by operating activities1,660 2,794 
Investing Activities
Capital expenditures(707)(922)
Proceeds from sales of property and businesses, net of cash divested285 1,008 
Acquisitions of property and businesses, net of cash acquired(2,323)(73)
Purchases of investments(2,001)(1)
Proceeds from sales and maturities of investments2,001 1 
Other investing activities, net18 22 
Cash (used for) provided by investing activities(2,727)35 
Financing Activities
Changes in short-term notes payable (1,439)
Proceeds from issuance of long-term debt 8,275 
Proceeds from issuance of long-term debt transferred to IFF at split-off1,250  
Payments on long-term debt(5,000)(29)
Purchases of common stock(1,643)(232)
Proceeds from issuance of Company stock110 34 
Employee taxes paid for share-based payment arrangements(26)(14)
Distributions to noncontrolling interests(34)(48)
Dividends paid to stockholders(476)(662)
Cash transferred to IFF at split-off(100) 
Other financing activities, net(2)(55)
Cash (used for) provided by financing activities(5,921)5,830 
Effect of exchange rate changes on cash, cash equivalents and restricted cash(49)4 
(Decrease) increase in cash, cash equivalents and restricted cash(7,037)8,663 
Cash, cash equivalents and restricted cash from continuing operations, beginning of period8,767 1,569 
Cash, cash equivalents and restricted cash from discontinued operations, beginning of period8 8 
Cash, cash equivalents and restricted cash at beginning of period8,775 1,577 
Cash, cash equivalents and restricted cash from continuing operations, end of period1,738 10,233 
Cash, cash equivalents and restricted cash from discontinued operations, end of period 7 
Cash, cash equivalents and restricted cash at end of period$1,738 $10,240 
See Notes to the Consolidated Financial Statements.
9



DuPont de Nemours, Inc.
Consolidated Statements of Equity
For the nine months ended September 30, 2021 and 2020
In millions (Unaudited)Common StockAdditional Paid-in CapitalRetained Earnings (Accumulated Deficit)Accumulated Other Comp LossTreasury StockNon-controlling InterestsTotal Equity
Balance at December 31, 2019$7 $50,796 $(8,400)$(1,416)$ $569 $41,556 
Adoption of accounting standards
— — (3)— — — (3)
Net (loss) income— — (3,173)— — 20 (3,153)
Other comprehensive income (loss)— — — 557 — (1)556 
Dividends ($0.90 per common share)
— (662)— — — — (662)
Common stock issued/sold
— 34 — — — — 34 
Stock-based compensation— 81 — — — — 81 
Contributions from non-controlling interests— — — — — 19 19 
Distributions to non-controlling interests
— — — — — (48)(48)
Purchases of treasury stock
— — — — (232)— (232)
Retirement of treasury stock— — (232)— 232 — — 
Other
— (30)— — — — (30)
Balance at September 30, 2020$7 $50,219 $(11,808)$(859)$ $559 $38,118 
Balance at December 31, 2020$7 $50,039 $(11,586)$44 $ $566 $39,070 
Net income— — 6,263 — — 26 6,289 
Other comprehensive loss
— — — (226)— (9)(235)
Dividends ($0.90 per common share)
— (476)— — — — (476)
Common stock issued/sold
— 110 — — — — 110 
Stock-based compensation
— 30 — — — — 30 
Contributions from non-controlling interests— — — — — 84 84 
Distributions to non-controlling interests
— — — — — (34)(34)
Purchases of treasury stock
— — — — (1,643)— (1,643)
Retirement of treasury stock
— — (1,643)— 1,643 —  
Split-off of N&B(2)— (15,926)— — (27)(15,955)
Other— (1)— — — — (1)
Balance at September 30, 2021$5 $49,702 $(22,892)$(182)$ $606 $27,239 
See Notes to the Consolidated Financial Statements.



10



DuPont de Nemours, Inc.
Consolidated Statements of Equity
For the three months ended September 30, 2021 and 2020

In millions (Unaudited)Common StockAdditional Paid-in CapitalRetained Earnings (Accumulated Deficit)Accumulated Other Comp LossTreasury StockNon-controlling InterestsTotal Equity
Balance at June 30, 2020$7 $50,191 $(11,728)$(1,465)$ $572 $37,577 
Net (loss) income— — (79)— — 7 (72)
Other comprehensive income
— — — 606 — 4 610 
Stock-based compensation— 24 — — — — 24 
Contributions from non-controlling interests— — — — — 14 14 
Distributions to non-controlling interests
— — — — — (38)(38)
Other
— 4 (1)— — — 3 
Balance at September 30, 2020$7 $50,219 $(11,808)$(859)$ $559 $38,118 
Balance at June 30, 2021$5 $49,681 $(22,783)$(26)$ $587 $27,464 
Net income— — 391 — — 13 404 
Other comprehensive loss
— — — (156)— (1)(157)
Common stock issued/sold
— 2 — — — — 2 
Stock-based compensation
— 17 — — — — 17 
Contributions from non-controlling interests— — — — — 17 17 
Distributions to non-controlling interests
— — — — — (10)(10)
Purchases of treasury stock
— — — — (500)— (500)
Retirement of treasury stock
— — (500)— 500 —  
Other
— 2 — — — — 2 
Balance at September 30, 2021$5 $49,702 $(22,892)$(182)$ $606 $27,239 
See Notes to the Consolidated Financial Statements.

11


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Table of Contents


12


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Interim Financial Statements
The accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, the interim statements reflect all adjustments (including normal recurring accruals) which are considered necessary for the fair statement of the results for the periods presented. Results from interim periods should not be considered indicative of results for the full year. These interim Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notes thereto contained in the Company's Current Report on Form 8-K filed on June 3, 2021, collectively referred to as the "Recast 2020 Annual Report," which was filed in order to recast the Company's 2020 Annual Report on Form 10-K to reflect the presentation of the N&B Business as discontinued operations and to reflect the changes in the Company's reportable segments. These interim Consolidated Financial Statements should also be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The interim Consolidated Financial Statements include the accounts of the Company and all of its subsidiaries in which a controlling interest is maintained.

Basis of Presentation
Effective August 31, 2017, pursuant to the merger of equals transaction contemplated by the Agreement and Plan of Merger, dated as of December 11, 2015, as amended on March 31, 2017 ("Merger Agreement"), The Dow Chemical Company ("TDCC") and E. I. du Pont de Nemours and Company ("EID") each merged with subsidiaries of DowDuPont Inc. ("DowDuPont") and, as a result, TDCC and EID became subsidiaries of DowDuPont (the "DWDP Merger"). Except as otherwise indicated by the context, the term "TDCC" includes TDCC and its consolidated subsidiaries and "EID" includes EID and its consolidated subsidiaries.

On April 1, 2019, the Company completed the separation of the materials science business through the spin-off of Dow Inc., (“Dow”) including Dow’s subsidiary TDCC (the “Dow Distribution”). On June 1, 2019, the Company completed the separation of the agriculture business through the spin-off of Corteva, Inc. (“Corteva”) including Corteva’s subsidiary EID, (the “Corteva Distribution" and together with the Dow Distribution, the “DWDP Distributions”).

Following the Corteva Distribution, DuPont holds the specialty products business as continuing operations. On June 1, 2019, DowDuPont changed its registered name from "DowDuPont Inc." to "DuPont de Nemours, Inc." doing business as "DuPont." Beginning on June 3, 2019, the Company's common stock is traded on the NYSE under the ticker symbol "DD."

N&B Transaction
On February 1, 2021, DuPont completed the separation and distribution of the Nutrition & Biosciences business segment (the "N&B Business"), and the merger of Nutrition & Biosciences, Inc. (“N&B”), a DuPont subsidiary formed to hold the N&B Business, with a subsidiary of International Flavors & Fragrances Inc. ("IFF"). The distribution was effected through an exchange offer (the “Exchange Offer”) and the consummation of the Exchange Offer was followed by the merger of N&B with a wholly owned subsidiary of IFF, with N&B surviving the merger as a wholly owned subsidiary of IFF (the “N&B Merger” and, together with the Exchange Offer, the “N&B Transaction”). See Note 3 for more information.

The financial position of DuPont as of December 31, 2020 and the results of operations of DuPont for the three and nine months ended September 30, 2021 and 2020 present the historical financial results of N&B as discontinued operations. The cash flows and comprehensive income related to N&B have not been segregated and are included in the interim Consolidated Statements of Cash Flows and interim Consolidated Statements of Comprehensive Income, respectively, for all periods presented. Unless otherwise indicated, the information in the notes to the interim Consolidated Financial Statements refer only to DuPont's continuing operations and do not include discussion of balances or activity of N&B.

2021 Segment Realignment
Immediately following the separation and distribution of the N&B Business, the Company made changes to its management and reporting structure (the “2021 Segment Realignment”) (see Note 23 for additional details). The reporting changes have been retrospectively reflected for all periods presented.
13


NOTE 2 - ACQUISITIONS
On July 1, 2021, DuPont completed the acquisition (the "Laird PM Acquisition") of 100% of the ownership interest of Laird Performance Materials (“Laird PM”) from Advent International for aggregate, adjusted cash consideration of approximately $2,404 million. The cash consideration paid included a net upward adjustment of approximately $100 million for acquired cash and net working capital, among other items. Laird PM is a leader in high-performance electromagnetic shielding and thermal management solutions. Laird PM is being integrated into the Interconnect Solutions business within the Electronics & Industrial segment, in order to enhance the Company's position in advanced electronics applications. The Company accounted for the acquisition in accordance with ASC 805, which requires the assets acquired and liabilities assumed to be recognized on the balance sheet at their fair values as of the acquisition date.

The table below presents the provisional fair values allocated to the assets acquired and liabilities assumed. The purchase accounting and purchase price allocation for Laird PM are substantially complete. However, the Company continues to refine the preliminary valuation of certain acquired assets and liabilities, including income tax related amounts, which could impact the amount of residual goodwill recorded. The Company will finalize the amounts recognized as it obtains the information necessary to complete the analysis, but no later than one year from the date of the acquisition. Final determination of the fair values may result in further adjustments to the values presented in the following table:

Laird PM Assets Acquired and Liabilities Assumed on July 1, 2021
(in millions)
Fair Value of Assets Acquired
Cash and cash equivalents$92 
Accounts and notes receivable93 
Inventories50 
Property, plant, and equipment 104 
Other current assets10 
Goodwill1,219 
Other intangible assets1,160 
Deferred income tax assets3 
Deferred charges and other assets26 
Total Assets$2,757 
Fair Value of Liabilities Assumed
Accounts payable$75 
Income taxes payable10 
Accrued and other current liabilities46 
Deferred income tax liabilities 184 
Pension & other post-employment benefits - noncurrent10 
Other noncurrent obligations28 
Total Liabilities$353 
Net Assets (Consideration for Laird PM)$2,404 

The significant fair value adjustments included in the provisional allocation of purchase price are discussed below.

Property, plant and equipment
Property, plant and equipment is comprised of machinery and equipment of $67 million, buildings and building improvements of $18 million, leasehold improvements of $10 million, construction in progress of $5 million and land and land improvements of $4 million. The preliminary estimated fair value was primarily determined using a market approach for land and certain types of equipment, and a replacement cost approach for the remaining depreciable property, plant and equipment. The market approach for certain types of equipment represents a sales comparison that measures the value of an asset through an analysis of sales and offerings of comparable assets. The replacement cost approach used for all other depreciable property, plant and equipment measures the value of an asset by estimating the cost to acquire or construct comparable assets and adjusts for age and condition of the asset.
14


Goodwill
The excess of the consideration for Laird PM over the preliminary net fair value of assets acquired and liabilities assumed resulted in the provisional recognition of $1,219 million of goodwill, which has been assigned to the Electronics & Industrial segment. Goodwill is attributable to Laird PM’s assembled workforce and expected cost synergies to be obtained through procurement efficiencies and the optimization of the combined the Electronics & Industrial segment and Laird PM businesses’ global activities across sales, manufacturing, research & development, and administrative functions.

Other Intangible Assets
Other intangible assets with definite lives include acquired customer-related intangible assets of $840 million, developed technology of $290 million and trademark/tradename of $30 million. Acquired customer-related intangible assets, developed technology, and trademark/tradename have useful lives of 14 years, 8 years, and 3 years, respectively. The preliminary customer-related intangible assets' fair value was determined using the excess earnings method while the preliminary developed technology and trademark/tradename fair values were determined utilizing the relief from royalty method.

Total sales included in the interim Consolidated Statements of Operations for the three and nine months ended September 30, 2021 are $131 million. The Company evaluated the disclosure requirements under ASC 805 and determined Laird PM was not considered a material business combination for purposes of disclosing the earnings of Laird PM since the date of acquisition or
supplemental pro forma information.
15


NOTE 3 - DIVESTITURES
N&B Transaction
On February 1, 2021, DuPont completed the separation and distribution of the N&B Business, and merger of N&B, a subsidiary DuPont formed to hold the N&B Business, with a subsidiary of IFF. The distribution was effected through an exchange offer where, on the terms and subject to the conditions of the Exchange Offer, eligible participating DuPont stockholders had the option to tender all, some or none of their shares of common stock, par value $0.01 per share, of DuPont (the “DuPont Common Stock”) for a number of shares of common stock, par value $0.01 per share, of N&B (the “N&B Common Stock”) and which resulted in all shares of N&B Common Stock being distributed to DuPont stockholders that participated in the Exchange Offer. The consummation of the Exchange Offer was followed by the merger of N&B with a wholly owned subsidiary of IFF, with N&B surviving the merger as a wholly owned subsidiary of IFF (the “N&B Merger” and, together with the Exchange Offer, the “N&B Transaction”). The N&B Transaction was subject to IFF shareholder approval, customary regulatory approvals, tax authority rulings including a favorable private letter ruling from the U.S. Internal Revenue Service which confirms the N&B Transaction to be free of U.S. federal income tax, and expiration of the public exchange offer. DuPont does not have an ownership interest in IFF as a result of the N&B Transaction.

In the Exchange Offer, DuPont accepted approximately 197.4 million shares of its common stock in exchange for about 141.7 million shares of N&B Common Stock as of the date of the N&B Transaction. As a result, DuPont reduced its common stock outstanding by 197.4 million shares of DuPont Common Stock. In the N&B Merger, each share of N&B Common Stock was automatically converted into the right to receive one share of IFF common stock, par value $0.125 per share, based on the terms of the N&B Merger Agreement.

The results of operations of N&B are presented as discontinued operations as summarized below:
Three Months Ended September 30,  Nine Months Ended September 30,
In millions202020212020
Net sales$1,467 $507 $4,557 
Cost of sales975 354 2,967 
Research and development expenses59 21 178 
Selling, general and administrative expenses121 47 399 
Amortization of intangibles358 38 1,064 
Restructuring and asset related charges - net6