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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2018
Stockholders' Equity Note [Abstract] |
Reconciliation of the changes in stockholders' equity | A reconciliation of the changes in stockholders' equity for first nine months 2018 is provided below:
(Dollars in millions) | Common Stock at Par Value |  | Additional Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Income (Loss) |  | Treasury Stock at Cost |  | Total Eastman Stockholders' Equity |  | Noncontrolling Interest |  | Total Equity
Balance at December 31, 2017 | $ | 2 |  |  | $ | 1,983 |  |  | $ | 6,802 |  |  | $ | (209 | ) |  | $ | (3,175 | ) |  | $ | 5,403 |  |  | $ | 77 |  |  | $ | 5,480 |
Cumulative Effect of Adoption of New Accounting Standards (1) | — |  |  | — |  |  | 16 |  |  | — |  |  | — |  |  | 16 |  |  | — |  |  | 16 |
Net Earnings | — |  |  | — |  |  | 1,046 |  |  | — |  |  | — |  |  | 1,046 |  |  | 3 |  |  | 1,049 |
Cash Dividends Declared (2) ($1.68 per share) | — |  |  | — |  |  | (238 | ) |  | — |  |  | — |  |  | (238 | ) |  | — |  |  | (238 | )
Other Comprehensive Income | — |  |  | — |  |  | — |  |  | 15 |  |  | — |  |  | 15 |  |  | — |  |  | 15 |
Share-Based Compensation Expense (3) | — |  |  | 53 |  |  | — |  |  | — |  |  | — |  |  | 53 |  |  | — |  |  | 53 |
Stock Option Exercises | — |  |  | 17 |  |  | — |  |  | — |  |  | — |  |  | 17 |  |  | — |  |  | 17 |
Other (4) | — |  |  | (17 | ) |  | — |  |  | — |  |  | — |  |  | (17 | ) |  | — |  |  | (17 | )
Share Repurchases | — |  |  | — |  |  | — |  |  | — |  |  | (375 | ) |  | (375 | ) |  | — |  |  | (375 | )
Distributions to Noncontrolling Interest | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (5 | ) |  | (5 | )
Balance at September 30, 2018 | $ | 2 |  |  | $ | 2,036 |  |  | $ | 7,626 |  |  | $ | (194 | ) |  | $ | (3,550 | ) |  | $ | 5,920 |  |  | $ | 75 |  |  | $ | 5,995 |
(1) | On January 1, 2018, the Company adopted new accounting standards for revenue recognition, income taxes, and derivatives and hedging, which resulted in adjustments to beginning retained earnings. See Note 1, "Significant Accounting Policies", for specific amounts related to each standard.
(2) | Cash dividends declared includes cash dividends paid and dividends declared but unpaid.
(3) | Share-based compensation expense is the fair value of share-based awards.
(4) | Additional paid-in capital includes value of shares withheld for employees' taxes on vesting of share-based compensation awards.
Accumulated Other Comprehensive Income (Loss) |
(Dollars in millions) | Cumulative Translation Adjustment |  | Benefit Plans Unrecognized Prior Service Credits |  | Unrealized Gains (Losses) on Derivative Instruments |  | Unrealized Losses on Investments |  | Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2016 | $ | (381 | ) |  | $ | 163 |  |  | $ | (62 | ) |  | $ | (1 | ) |  | $ | (281 | )
Period change | 85 |  |  | (27 | ) |  | 14 |  |  | — |  |  | 72 |
Balance at December 31, 2017 | (296 | ) |  | 136 |  |  | (48 | ) |  | (1 | ) |  | (209 | )
Period change | (28 | ) |  | (22 | ) |  | 65 |  |  | — |  |  | 15 |
Balance at September 30, 2018 | $ | (324 | ) |  | $ | 114 |  |  | $ | 17 |  |  | $ | (1 | ) |  | $ | (194 | )
Schedule of components of comprehensive income (loss) before tax and net of tax effects | Components of other comprehensive income recognized in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings are presented below, before tax and net of tax effects:
| Third Quarter
| 2018 |  | 2017
(Dollars in millions) | Before Tax |  | Net of Tax |  | Before Tax |  | Net of Tax
Other comprehensive income (loss) |  |  |  |  |  |  |
Change in cumulative translation adjustment | $ | (21 | ) |  | $ | (21 | ) |  | $ | 17 |  |  | $ | 17 |
Defined benefit pension and other postretirement benefit plans: |  |  |  |  |  |  |
Amortization of unrecognized prior service credits | (10 | ) |  | (7 | ) |  | (11 | ) |  | (7 | )
Derivatives and hedging: |  |  |  |  |  |  |
Unrealized gain (loss) during period | 50 |  |  | 37 |  |  | 49 |  |  | 31 |
Reclassification adjustment for (gains) losses included in net income, net | (14 | ) |  | (10 | ) |  | 10 |  |  | 7 |
Total other comprehensive income (loss) | $ | 5 |  |  | $ | (1 | ) |  | $ | 65 |  |  | $ | 48 |
| First Nine Months
| 2018 |  | 2017
(Dollars in millions) | Before Tax |  | Net of Tax |  | Before Tax |  | Net of Tax
Other comprehensive income (loss) |  |  |  |  |  |  |
Change in cumulative translation adjustment | $ | (28 | ) |  | $ | (28 | ) |  | $ | 60 |  |  | $ | 60 |
Defined benefit pension and other postretirement benefit plans: |  |  |  |  |  |  |
Amortization of unrecognized prior service credits | (30 | ) |  | (22 | ) |  | (33 | ) |  | (20 | )
Derivatives and hedging: |  |  |  |  |  |  |  |
Unrealized gain (loss) during period | 103 |  |  | 78 |  |  | (13 | ) |  | (8 | )
Reclassification adjustment for (gains) losses included in net income, net | (17 | ) |  | (13 | ) |  | 17 |  |  | 11 |
Total other comprehensive income (loss) | $ | 28 |  |  | $ | 15 |  |  | $ | 31 |  |  | $ | 43 |

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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 + Details
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