XML 19 R2.htm IDEA: XBRL DOCUMENT v3.20.2
UNAUDITED CONSOLIDATED STATEMENTS OF EARNINGS, COMPREHENSIVE INCOME AND RETAINED EARNINGS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Sales $ 2,122 $ 2,325 $ 6,287 $ 7,068
Cost of sales 1,621 1,751 4,838 5,331
Gross profit 501 574 1,449 1,737
Selling, general and administrative expenses 165 163 480 515
Research and development expenses 56 59 169 174
Asset impairments and restructuring charges, net 60 2 215 52
Other components of post-employment (benefit) cost, net (30) (20) (90) (62)
Other (income) charges, net 7 3 10 0
Earnings before interest and taxes 243 367 665 1,058
Net interest expense 52 54 159 165
Early debt extinguishment costs 1 0 1 0
Earnings before income taxes 190 313 505 893
Provision for income taxes 25 46 50 158
Net earnings 165 267 455 735
Less: Net earnings attributable to noncontrolling interest 4 1 9 2
Net earnings attributable to Eastman $ 161 $ 266 $ 446 $ 733
Earnings Per Share, Basic [Abstract]        
Basic earnings per share attributable to Eastman $ 1.19 $ 1.95 $ 3.29 $ 5.31
Diluted earnings per share attributable to Eastman        
Diluted earnings per share attributable to Eastman $ 1.18 $ 1.93 $ 3.27 $ 5.27
Comprehensive Income        
Net earnings including noncontrolling interest $ 165 $ 267 $ 455 $ 735
Other comprehensive income (loss), net of tax:        
Change in cumulative translation adjustment (20) 23 (15) 40
Defined benefit pension and other postretirement benefit plans:        
Amortization of unrecognized prior service credits (7) (7) (21) (22)
Derivatives and hedging:        
Unrealized gain (loss) during period (13) 10 (9) (2)
Reclassification adjustment for (gains) losses included in net income, net 6 6 16 6
Total other comprehensive income (loss), net of tax (34) 32 (29) 22
Comprehensive income including noncontrolling interest 131 299 426 757
Less: Net earnings attributable to noncontrolling interest 4 1 9 2
Comprehensive income attributable to Eastman 127 298 417 755
Retained Earnings        
Retained earnings at beginning of period 8,071 7,848 7,965 7,573
Net earnings attributable to Eastman 161 266 446 733
Cash dividends declared (90) (85) (269) (257)
Retained earnings at end of period 8,142 8,029 8,142 8,029
Retained earnings $ 8,142 $ 8,029 $ 7,965 8,029
Cumulative Effect, Period of Adoption, Adjustment        
Retained Earnings        
Retained earnings at beginning of period       (20)
Retained earnings       $ (20)