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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, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Sales $ 2,419 $ 2,297 $ 4,722 $ 4,533
Cost of sales 1,768 1,692 3,446 3,294
Gross profit 651 605 1,276 1,239
Selling, general and administrative expenses 176 174 350 357
Research and development expenses 55 55 109 109
Asset impairments and restructuring gains, net 0 0 0 (2)
Operating earnings 420 376 817 775
Net interest expense 61 63 121 127
Early debt extinguishment costs 0 9 0 9
Other (income) charges, net 0 (20) (4) (8)
Earnings before income taxes 359 324 700 647
Provision for income taxes 65 67 127 139
Net earnings 294 257 573 508
Less: Net earnings attributable to noncontrolling interest 2 2 3 2
Net earnings attributable to Eastman $ 292 $ 255 $ 570 $ 506
Basic earnings per share attributable to Eastman        
Basic earnings per share attributable to Eastman $ 2.01 $ 1.73 $ 3.91 $ 3.43
Diluted earnings per share attributable to Eastman        
Diluted earnings per share attributable to Eastman $ 2.00 $ 1.71 $ 3.89 $ 3.40
Comprehensive Income        
Net earnings including noncontrolling interest $ 294 $ 257 $ 573 $ 508
Other comprehensive income (loss), net of tax:        
Change in cumulative translation adjustment 36 (70) 43 36
Defined benefit pension and other postretirement benefit plans:        
Amortization of unrecognized prior service credits included in net periodic costs [1] (6) (7) (13) (14)
Derivatives and hedging:        
Unrealized gain (loss) during period [2] (18) 38 (39) 20
Reclassification adjustment for losses included in net income, net [2] 8 33 4 37
Total other comprehensive income (loss), net of tax 20 [2] (6) [2] (5) 79
Comprehensive income including noncontrolling interest 314 251 568 587
Less: Net earnings attributable to noncontrolling interest 2 2 3 2
Comprehensive income attributable to Eastman 312 249 565 585
Retained Earnings        
Retained earnings at beginning of period 5,925 5,330 5,721 5,146
Net earnings attributable to Eastman 292 255 570 506
Cash dividends declared (75) (68) (149) [3] (135)
Retained earnings at end of period $ 6,142 $ 5,517 $ 6,142 $ 5,517
[1] Included in the calculation of net periodic benefit costs for pension and other postretirement benefit plans. See Note 7, "Retirement Plans".
[2] For additional information regarding the impact of reclassifications into earnings, see Note 6, "Derivative and Non-Derivative Financial Instruments".
[3] Cash dividends declared includes cash dividends paid and dividends declared, but unpaid.