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UNAUDITED CONSOLIDATED STATEMENTS OF EARNINGS, COMPREHENSIVE INCOME AND RETAINED EARNINGS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Sales $ 2,297 $ 2,533 $ 4,533 $ 4,976
Cost of sales 1,692 1,813 3,294 3,600
Gross profit 605 720 1,239 1,376
Selling, general and administrative expenses 174 194 357 374
Research and development expenses 55 57 109 113
Asset impairments and restructuring (gains) charges, net 0 0 (2) 109
Operating earnings 376 469 775 780
Net interest expense 63 66 127 132
Early debt extinguishment costs 9 0 9 0
Other income, net (20) 0 (8) (11)
Earnings before income taxes 324 403 647 659
Provision for income taxes 67 104 139 188
Net earnings 257 299 508 471
Less: Net earnings attributable to noncontrolling interest 2 2 2 3
Net earnings attributable to Eastman $ 255 $ 297 $ 506 $ 468
Basic earnings per share attributable to Eastman        
Basic earnings per share attributable to Eastman $ 1.73 $ 2.00 $ 3.43 $ 3.15
Diluted earnings per share attributable to Eastman        
Diluted earnings per share attributable to Eastman $ 1.71 $ 1.98 $ 3.40 $ 3.12
Comprehensive Income        
Net earnings including noncontrolling interest $ 257 $ 299 $ 508 $ 471
Other comprehensive income (loss), net of tax:        
Change in cumulative translation adjustment (70) 76 36 (136)
Defined benefit pension and other postretirement benefit plans:        
Amortization of unrecognized prior service credits included in net periodic costs [1] (7) (7) (14) (11)
Derivatives and hedging:        
Unrealized gain (loss) during period [2] 38 (16) 20 39
Reclassification adjustment for losses included in net income, net [2] 33 25 37 22
Total other comprehensive income (loss), net of tax (6) 78 79 (86)
Comprehensive income including noncontrolling interest 251 377 587 385
Less: Net earnings attributable to noncontrolling interest 2 2 2 3
Comprehensive income attributable to Eastman 249 375 585 382
Retained Earnings        
Retained earnings at beginning of period 5,330 4,656 5,146 4,545
Net earnings attributable to Eastman 255 297 506 468
Cash dividends declared (68) (60) (135) [3] (120)
Retained earnings at end of period $ 5,517 $ 4,893 $ 5,517 $ 4,893
[1] Included in the calculation of net periodic benefit costs for pension and other postretirement benefit plans. See Note 9, "Retirement Plans".
[2] For additional information regarding the impact of reclassifications into earnings, refer to Note 8, "Derivative and Non-Derivative Financial Instruments".
[3] Includes cash dividends paid and dividends declared, but unpaid.