XML 19 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
UNAUDITED CONSOLIDATED STATEMENTS OF EARNINGS, COMPREHENSIVE INCOME AND RETAINED EARNINGS - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Sales $ 2,287 $ 2,447 $ 6,820 $ 7,423
Cost of sales 1,666 1,752 4,960 5,352
Gross profit 621 695 1,860 2,071
Selling, general and administrative expenses 181 183 538 561
Research and development expenses 54 59 163 168
Asset impairments and restructuring charges, net 30 21 28 130
Operating earnings 356 432 1,131 1,212
Net interest expense 64 66 191 198
Early debt extinguishment costs 0 0 9 0
Other charges (income), net 3 13 (5) 2
Earnings before income taxes 289 353 936 1,012
Provision for income taxes 56 95 195 283
Net earnings 233 258 741 729
Less: Net earnings attributable to noncontrolling interest 1 2 3 5
Net earnings attributable to Eastman $ 232 $ 256 $ 738 $ 724
Basic earnings per share attributable to Eastman        
Basic earnings per share attributable to Eastman $ 1.57 $ 1.73 $ 5.00 $ 4.87
Diluted earnings per share attributable to Eastman        
Diluted earnings per share attributable to Eastman $ 1.56 $ 1.71 $ 4.96 $ 4.83
Comprehensive Income        
Net earnings including noncontrolling interest $ 233 $ 258 $ 741 $ 729
Other comprehensive income (loss), net of tax:        
Change in cumulative translation adjustment (42) [1] (47) (6) [1] (183)
Defined benefit pension and other postretirement benefit plans:        
Amortization of unrecognized prior service credits included in net periodic costs [2] (7) (4) (21) (15)
Derivatives and hedging:        
Unrealized (loss) gain during period [3] (7) (66) 13 (27)
Reclassification adjustment for losses included in net income, net [3] 19 34 56 56
Total other comprehensive income (loss), net of tax (37) (83) 42 [1] (169)
Comprehensive income including noncontrolling interest 196 175 783 560
Less: Net earnings attributable to noncontrolling interest 1 2 3 5
Comprehensive income attributable to Eastman 195 173 780 555
Retained Earnings        
Retained earnings at beginning of period 5,517 4,893 5,146 4,545
Net earnings attributable to Eastman 232 256 738 724
Cash dividends declared (69) (59) (204) [4] (179)
Retained earnings at end of period $ 5,680 $ 5,090 $ 5,680 $ 5,090
[1] See Note 1, "Basis of Presentation" regarding correction of prior period foreign currency translation.
[2] Included in the calculation of net periodic benefit costs for pension and other postretirement benefit plans. See Note 9, "Retirement Plans".
[3] For additional information regarding the impact of reclassifications into earnings, see Note 8, "Derivative and Non-Derivative Financial Instruments".
[4] Cash dividends declared includes cash dividends paid and dividends declared, but unpaid.