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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, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Sales $ 2,363 $ 2,621 $ 4,743 $ 5,228
Cost of sales 1,774 1,917 3,580 3,943
Gross profit 589 704 1,163 1,285
Selling, general and administrative expenses 165 189 352 379
Research and development expenses 57 60 115 116
Asset impairments and restructuring charges, net 18 4 50 6
Other components of post-employment (benefit) cost, net (21) (30) (42) (60)
Other (income) charges, net (1) (10) (3) (56)
Earnings before interest and taxes 371 491 691 900
Net interest expense 55 61 111 120
Earnings before income taxes 316 430 580 780
Provision for income taxes 57 84 112 144
Net earnings 259 346 468 636
Less: Net earnings attributable to noncontrolling interest 1 2 1 2
Net earnings attributable to Eastman $ 258 $ 344 $ 467 $ 634
Basic earnings per share attributable to Eastman        
Basic earnings per share attributable to Eastman $ 1.87 $ 2.42 $ 3.37 $ 4.45
Diluted earnings per share attributable to Eastman        
Diluted earnings per share attributable to Eastman $ 1.85 $ 2.39 $ 3.34 $ 4.39
Comprehensive Income        
Net earnings including noncontrolling interest $ 259 $ 346 $ 468 $ 636
Other comprehensive income (loss), net of tax:        
Change in cumulative translation adjustment (13) (34) 17 (7)
Defined benefit pension and other postretirement benefit plans:        
Amortization of unrecognized prior service credits (8) (8) (15) (15)
Derivatives and hedging:        
Unrealized gain (loss) during period (22) 64 (12) 41
Reclassification adjustment for (gains) losses included in net income, net 2 (3) 0 (3)
Total other comprehensive income (loss), net of tax (41) 19 (10) 16
Comprehensive income including noncontrolling interest 218 365 458 652
Less: Net earnings attributable to noncontrolling interest 1 2 1 2
Comprehensive income attributable to Eastman 217 363 457 650
Retained Earnings        
Retained earnings at beginning of period 7,675 7,026 7,573 6,802
Cumulative effect adjustment resulting from adoption of new accounting standards 0 0 (20) 16
Net earnings attributable to Eastman 258 344 467 634
Cash dividends declared [1] (85) (78) (172) (160)
Retained earnings at end of period $ 7,848 $ 7,292 $ 7,848 $ 7,292
[1]
Cash dividends declared includes cash dividends paid and dividends declared but unpaid.