XML 42 R29.htm IDEA: XBRL DOCUMENT v3.19.1

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments, Gain (Loss) [Line Items]

Cumulative basis adjustments for fair value hedges on balance sheet [Table Text Block]

As of March 31, 2019 and December 31, 2018, the following amounts were included on the Unaudited Consolidated Statements of Financial Position related to cumulative basis adjustments for fair value hedges.

(Dollars in millions)		Carrying amount of the hedged liabilities								Cumulative amount of fair value hedging loss adjustment included in the carrying amount of the hedged liability
Line item in the Unaudited Consolidated Statements of Financial Position in which the hedged item is included		March 31, 2019				December 31, 2018				March 31, 2019				December 31, 2018
Long-term borrowings (1)		$	759			$	759			$	(10	)		$	(12	)

⁽¹⁾ 

At both March 31, 2019 and December 31, 2018, the cumulative amount of fair value hedging loss adjustment remaining for hedged liabilities for which hedge accounting has been discontinued was $7 million.

Derivative Instruments, Gain (Loss) [Table Text Block]

The following table presents the effect of fair value and cash flow hedge accounting on the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for first quarter 2019 and 2018.

Location and Amount of Gain or (Loss) Recognized in Earnings on Fair Value and Cash Flow Hedging Relationships
		First quarter
		2019												2018
(Dollars in millions)		Sales				Cost of Sales				Net Interest Expense				Sales				Cost of Sales				Net Interest Expense
Total amounts of income and expense line items presented in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in which the effects of fair value or cash flow hedges are recognized		$	2,380			$	1,806			$	56			$	2,607			$	2,026			$	59
The effects of fair value and cash flow hedging:
Gain or (loss) on cash flow hedging relationships:
Interest contracts (forward starting interest rate and treasury lock swap contracts):
Amount reclassified from AOCI into earnings										(1		)										(1		)
Commodity Contracts:
Amount reclassified from AOCI into earnings						(3		)										(2		)
Foreign Exchange Contracts:
Amount reclassified from AOCI into earnings		6												3

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The following table presents the notional amounts outstanding at March 31, 2019 and December 31, 2018 associated with Eastman's hedging programs.

Notional Outstanding			March 31, 2019			December 31, 2018
Derivatives designated as cash flow hedges:
Foreign Exchange Forward and Option Contracts (in millions)
	EUR/USD (in EUR)		€203			€263
Commodity Forward and Collar Contracts
	Feedstock (in million barrels)		4			5
	Energy (in million british thermal units)		31			40
Derivatives designated as fair value hedges:
Fixed-for-floating interest rate swaps (in millions)			$75			$75
Derivatives designated as net investment hedges:
Cross-currency interest rate swaps (in millions)
	EUR/USD (in EUR)		€851			€851
Non-derivatives designated as net investment hedges:
Foreign Currency Net Investment Hedges (in millions)
	EUR/USD (in EUR)		€1,242			€1,241

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following table presents the effect of the Company's hedging instruments on "Other comprehensive income (loss), net of tax" ("OCI") and financial performance for first quarter 2019 and 2018.

		Change in amount of after tax gain (loss) recognized in OCI on derivatives								Pre-tax amount of gain (loss) reclassified from OCI into earnings
(Dollars in millions)		First Quarter								First Quarter
Hedging Relationships		2019				2018				2019				2018
Derivatives in cash flow hedging relationships:
Commodity contracts		$	7			$	(11	)		$	(3	)		$	(2	)
Foreign exchange contracts		1				(13		)		6				3
Forward starting interest rate and treasury lock swap contracts		1				1				(1		)		(1		)
Non-derivatives in net investment hedging relationships (pre-tax):
Net investment hedges		26				(42		)		—				—
Derivatives in net investment hedging relationships (pre-tax):
Cross-currency interest rate swaps		19				(11		)		—				—
Cross-currency interest rate swaps excluded component		6				(11		)		—				—

Financial assets and liabilities valued on a recurring basis

The following table presents the financial assets and liabilities valued on a recurring and gross basis and includes where the financial assets and liabilities are located within the Unaudited Consolidated Statements of Financial Position as of March 31, 2019 and December 31, 2018.

The Financial Position and Fair Value Measurements of Hedging Instruments on a Gross Basis
(Dollars in millions)
Derivative Type		Statements of Financial Position Classification		March 31, 2019 Level 2				December 31, 2018 Level 2
Derivatives designated as cash flow hedges:
Commodity contracts		Other current assets		$	3			$	4
Commodity contracts		Other noncurrent assets		1				—
Foreign exchange contracts		Other current assets		16				15
Foreign exchange contracts		Other noncurrent assets		5				4
Derivatives designated as fair value hedges:
Fixed-for-floating interest rate swap		Other current assets		—				1
Derivatives designated as net investment hedges:
Cross-currency interest rate swaps		Other noncurrent assets		52				26
Total Derivative Assets				$	77			$	50
Derivatives designated as cash flow hedges:
Commodity contracts		Payables and other current liabilities		$	11			$	24
Commodity contracts		Other long-term liabilities		4				5
Derivatives designated as fair value hedges:
Fixed-for-floating interest rate swap		Long-term borrowings		3				4
Total Derivative Liabilities				$	18			$	33
Total Net Derivative Assets (Liabilities)				$	59			$	17

X

- Definition

Cumulative basis adjustments for fair value hedges on balance sheet [Table Text Block]

+ References

No definition available.

+ Details

Name:	emn_CumulativebasisadjustmentsforfairvaluehedgesonbalancesheetTableTextBlock
Namespace Prefix:	emn_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsGainLossLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959

+ Details

Name:	us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration