EARNINGS PER SHARE OF COMMON STOCK
The following tables provide earnings per share calculations for the periods indicated below: | | | | | | | | | | | | |
| Net Income (Loss) for Earnings Per Share Calculations - Basic and Diluted | For the Year Ended December 31, | |
| (In millions) | 2025 | 2024 | 2023 | |
| Income (loss) from continuing operations after income taxes | $ | 1,204 | | $ | 863 | | $ | 941 | | |
| Net income (loss) attributable to continuing operations noncontrolling interests | 11 | | 12 | | 12 | | |
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| Income (loss) from continuing operations available to Corteva common stockholders | $ | 1,193 | | $ | 851 | | $ | 929 | | |
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| Income (loss) from discontinued operations available to Corteva common stockholders | (99) | | 56 | | (194) | | |
| Net income (loss) available to common stockholders | $ | 1,094 | | $ | 907 | | $ | 735 | | |
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| Earnings (Loss) Per Share Calculations - Basic | For the Year Ended December 31, | |
| (Dollars per share) | 2025 | 2024 | 2023 | |
| Earnings (loss) per share of common stock from continuing operations | $ | 1.75 | | $ | 1.23 | | $ | 1.31 | | |
| Earnings (loss) per share of common stock from discontinued operations | (0.15) | | 0.08 | | (0.27) | | |
| Earnings (loss) per share of common stock | $ | 1.60 | | $ | 1.31 | | $ | 1.04 | | |
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| Earnings (Loss) Per Share Calculations - Diluted | For the Year Ended December 31, | |
| (Dollars per share) | 2025 | 2024 | 2023 | |
| Earnings (loss) per share of common stock from continuing operations | $ | 1.75 | | $ | 1.22 | | $ | 1.30 | | |
| Earnings (loss) per share of common stock from discontinued operations | (0.15) | | 0.08 | | (0.27) | | |
| Earnings (loss) per share of common stock | $ | 1.60 | | $ | 1.30 | | $ | 1.03 | | |
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| Share Count Information | For the Year Ended December 31, | |
| (Shares in millions) | 2025 | 2024 | 2023 | |
| Weighted-average common shares - basic | 680.0 | | 693.7 | | 709.0 | | |
Plus dilutive effect of equity compensation plans 1 | 1.4 | | 2.3 | | 2.9 | | |
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| Weighted-average common shares - diluted | 681.4 | | 696.0 | | 711.9 | | |
Potential shares of common stock excluded from EPS calculations 2 | 2.3 | | 3.1 | | 2.3 | | |
1.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.
2.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; or (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.
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.