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STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

Reconciliation of the changes in stockholders' equity

Reconciliations of the changes in stockholders' equity for third quarter 2020 and 2019 are provided below:

(Dollars in millions, except per share amount)			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 June 30, 2020			$	2					$	2,117					$	8,071					$	(209)					$	(3,960)					$	6,021					$	77					$	6,098
Net Earnings			—						—						161						—						—						161						4						165
Cash Dividends Declared (1) ($0.66 per share)			—						—						(90)						—						—						(90)						—						(90)
Other Comprehensive Income (Loss)			—						—						—						(34)						—						(34)						—						(34)
Share Based Compensation Expense (2)			—						11						—						—						—						11						—						11
Stock Option Exercises			—						6						—						—						—						6						—						6
Balance at September 30, 2020			$	2					$	2,134					$	8,142					$	(243)					$	(3,960)					$	6,075					$	81					$	6,156

(Dollars in millions, except per share amount)			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 June 30, 2019			$	2					$	2,079					$	7,848					$	(235)					$	(3,825)					$	5,869					$	77					$	5,946
Net Earnings			—						—						266						—						—						266						1						267
Cash Dividends Declared (1) ($0.62 per share)			—						—						(85)						—						—						(85)						—						(85)
Other Comprehensive Income (Loss)			—						—						—						32						—						32						—						32
Share Based Compensation Expense (2)			—						13						—						—						—						13						—						13
Other			—						—						—						—						—						—						(1)						(1)
Share Repurchase			—						—						—						—						(75)						(75)						—						(75)
Balance at September 30, 2019			$	2					$	2,092					$	8,029					$	(203)					$	(3,900)					$	6,020					$	77					$	6,097

(1)Cash dividends declared consists of cash dividends paid and dividends declared but unpaid.

(2)Share-based compensation expense is the fair value of share-based awards.

Reconciliations of the changes in stockholders' equity for first nine months 2020 and 2019 are provided below:

(Dollars in millions, except per share amount)			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, 2019			$	2					$	2,105					$	7,965					$	(214)					$	(3,900)					$	5,958					$	74					$	6,032
Net Earnings			—						—						446						—						—						446						9						455
Cash Dividends Declared (1) ($1.98 per share)			—						—						(269)						—						—						(269)						—						(269)
Other Comprehensive Income (Loss)			—						—						—						(29)						—						(29)						—						(29)
Share-Based Compensation Expense (2)			—						31						—						—						—						31						—						31
Stock Option Exercises			—						9						—						—						—						9						—						9
Other (3)			—						(11)						—						—						—						(11)						1						(10)
Share Repurchases			—						—						—						—						(60)						(60)						—						(60)
Distributions to Noncontrolling Interest			—						—						—						—						—						—						(3)						(3)
Balance at September 30, 2020			$	2					$	2,134					$	8,142					$	(243)					$	(3,960)					$	6,075					$	81					$	6,156

(Dollars in millions, except per share amount)			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, 2018			$	2					$	2,048					$	7,573					$	(245)					$	(3,575)					$	5,803					$	75					$	5,878
Cumulative Effect of Adoption of New Accounting Standards (4)			—						—						(20)						20						—						—						—						—
Net Earnings			—						—						733						—						—						733						2						735
Cash Dividends Declared (1) ($1.86 per share)			—						—						(257)						—						—						(257)						—						(257)
Other Comprehensive Income (Loss)			—						—						—						22						—						22						—						22
Share-Based Compensation Expense (2)			—						46						—						—						—						46						—						46
Stock Option Exercises			—						8						—						—						—						8						—						8
Other (3)			—						(10)						—						—						—						(10)						—						(10)
Share Repurchases			—						—						—						—						(325)						(325)						—						(325)
Balance at September 30, 2019			$	2					$	2,092					$	8,029					$	(203)					$	(3,900)					$	6,020					$	77					$	6,097

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, 2018			$	(309)					$	106					$	(41)					$	(1)					$	(245)
Period change (1)			45						—						(14)						—						31
Balance at December 31, 2019			(264)						106						(55)						(1)						(214)
Period change			(15)						(21)						7						—						(29)
Balance at September 30, 2020			$	(279)					$	85					$	(48)					$	(1)					$	(243)

(1)Benefit plans unrecognized prior service credits includes $29 million reclassification of stranded tax expense from AOCI to retained earnings and unrealized gains (losses) on derivative instruments includes $9 million reclassification of stranded tax benefit from AOCI to retained earnings.

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
			2020												2019
(Dollars in millions)			Before Tax						Net of Tax						Before Tax						Net of Tax
Other comprehensive income (loss)
Change in cumulative translation adjustment			$	(20)					$	(20)					$	23					$	23
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits			(9)						(7)						(9)						(7)
Derivatives and hedging:
Unrealized gain (loss) during period			(17)						(13)						13						10
Reclassification adjustment for (gains) losses included in net income, net			7						6						8						6
Total other comprehensive income (loss)			$	(39)					$	(34)					$	35					$	32
			First Nine Months
			2020												2019
(Dollars in millions)			Before Tax						Net of Tax						Before Tax						Net of Tax
Other comprehensive income (loss)
Change in cumulative translation adjustment			$	(15)					$	(15)					$	40					$	40
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits			(28)						(21)						(29)						(22)
Derivatives and hedging:
Unrealized gain (loss) during period			(12)						(9)						(3)						(2)
Reclassification adjustment for (gains) losses included in net income, net			21						16						8						6
Total other comprehensive income (loss)			$	(34)					$	(29)					$	16					$	22

X

- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669686-108580

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 30
-Section 45
-Paragraph 20
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Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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

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