XML 57 R34.htm IDEA: XBRL DOCUMENT
v3.20.4

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items] |
Cumulative basis adjustments for fair value hedges on balance sheet [Table Text Block] | As of December 31, 2020 and 2019, the following amounts were included within the 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 Consolidated Statements of Financial Position in which the hedged item is included |  | December 31, 2020 |  | December 31, 2019 |  | December 31, 2020 |  | December 31, 2019
Long-term borrowings (1) |  | $ | 772 |  |  | $ | 763 |  |  | $ | (1) |  |  | $ | (7) |
(1)The cumulative amount of fair value hedging loss adjustment remaining for hedged liabilities for which hedge accounting has been discontinued was $5 million and $7 million at December 31, 2020 and December 31, 2019, respectively.
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | The following table presents the notional amounts outstanding at December 31, 2020 and 2019 associated with Eastman's hedging programs.
Notional Outstanding | December 31, 2020 |  | December 31, 2019
Derivatives designated as cash flow hedges: |  |  |
Foreign Exchange Forward and Option Contracts (in millions) |  |  |
| EUR/USD (in EUR) | €521 |  | €630
Commodity Forward and Collar Contracts |  |  |
| Feedstock (in million barrels) | — |  |  | 1 |
| Energy (in million british thermal units) | 17 |  |  | 27 |
Interest rate swaps for the future issuance of debt (in millions) | 75 |  |  | — |
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) | €853 |  | €851
Non-derivatives designated as net investment hedges: |  |  |
Foreign Currency Net Investment Hedges (in millions) |  |  |
| EUR/USD (in EUR) | €1,245 |  | €1,243
Schedule of 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 Consolidated Statements of Financial Position as of December 31, 2020 and 2019.
The Financial Position and Fair Value Measurements of Hedging Instruments on a Gross Basis
(Dollars in millions) |  |  |  |  |  |
Derivative Type |  | Statements of Financial Position Location |  | December 31, 2020 Level 2 |  | December 31, 2019 Level 2
Derivatives designated as cash flow hedges: |  |  |  |  |  |
Commodity contracts |  | Other current assets |  | $ | 1 |  |  | $ | — |
Foreign exchange contracts |  | Other current assets |  | — |  |  | 13 |
Foreign exchange contracts |  | Other noncurrent assets |  | — |  |  | 2 |
Forward starting interest rate swap contracts |  | Other noncurrent assets |  | 1 |  |  | — |
Derivatives designated as fair value hedges: |  |  |  |  |  |
Fixed-for-floating interest rate swap |  | Other current assets |  | 1 |  |  | 1 |
Fixed-for-floating interest rate swap |  | Other noncurrent assets |  | 4 |  |  | — |
Derivatives designated as net investment hedges: |  |  |  |  |  |
Cross-currency interest rate swaps |  | Other noncurrent assets |  | 40 |  |  | 68 |
Total Derivative Assets |  |  |  | $ | 47 |  |  | $ | 84 |
Derivatives designated as cash flow hedges: |  |  |  |  |  |
Commodity contracts |  | Payables and other current liabilities |  | $ | 6 |  |  | $ | 26 |
Commodity contracts |  | Other long-term liabilities |  | — |  |  | 2 |
Foreign exchange contracts |  | Payables and other current liabilities |  | 21 |  |  | 1 |
Foreign exchange contracts |  | Other long-term liabilities |  | 14 |  |  | 2 |
Derivatives designated as fair value hedges: |  |  |  |  |  |
Fixed-for-floating interest rate swap |  | Long-term borrowings |  | — |  |  | 1 |
Derivatives designated as net investment hedges: |  |  |  |  |  |
Cross-currency interest rate swaps |  | Other long-term liabilities |  | 51 |  |  | — |
Total Derivative Liabilities |  |  |  | $ | 92 |  |  | $ | 32 |
Total Net Derivative Assets (Liabilities) |  |  |  | $ | (45) |  |  | $ | 52 |
Schedule of Derivative Instrument Gain Loss in Statement of Financial Performance | 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 the twelve months ended December 31, 2020 and 2019:
(Dollars in millions) |  | Change in amount of after tax gain/(loss) recognized in OCI on Derivatives |  | Pre-tax amount of gain/(loss) reclassified from AOCI into income
|  | December 31, |  | December 31,
Hedging Relationships |  | 2020 |  | 2019 |  | 2020 |  | 2019
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |
Commodity contracts |  | $ | 17 |  |  | $ | (2) |  |  | $ | (31) |  |  | $ | (40) |
Foreign exchange contracts |  | (36) |  |  | (5) |  |  | 9 |  |  | 26 |
Forward starting interest rate and treasury lock swap contracts |  | 8 |  |  | 4 |  |  | (9) |  |  | (6) |
Non-derivatives in net investment hedging relationships (pre-tax): |  |  |  |  |  |  |  |
Net investment hedges |  | (130) |  |  | 26 |  |  | — |  |  | — |
Derivatives in net investment hedging relationships (pre-tax): |  |  |  |  |  |  |  |
Cross-currency interest rate swaps |  | (88) |  |  | 19 |  |  | — |  |  | — |
Cross-currency interest rate swaps excluded component |  | 10 |  |  | 23 |  |  | — |  |  | — |
The following table presents the effect of fair value and cash flow hedge accounting on the Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for 2020 and 2019.
Location and Amount of Gain or (Loss) Recognized in Earnings on Fair Value and Cash Flow Hedging Relationships
|  | Twelve Months
|  | 2020 |  | 2019
(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 Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in which the effects of fair value or cash flow hedges are recognized |  | $ | 8,473 |  |  | $ | 6,498 |  |  | $ | 210 |  |  | $ | 9,273 |  |  | $ | 7,039 |  |  | $ | 218 |
The effects of fair value and cash flow hedging: |  |  |  |  |  |  |  |  |  |  |  |
Gain or (loss) on fair value hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |
Interest contracts (fixed-for-floating interest rate swaps): |  |  |  |  |  |  |  |  |  |  |  |
Hedged items |  |  |  |  |  | 1 |  |  |  |  |  |  | 1 |
Derivatives designated as hedging instruments |  |  |  |  |  | (1) |  |  |  |  |  |  | (1) |
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 |  |  |  |  |  | (9) |  |  |  |  |  |  | (6) |
Commodity Contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from AOCI into earnings |  |  |  | (31) |  |  |  |  |  |  | (40) |  |  |
Foreign Exchange Contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from AOCI into earnings |  | 9 |  |  |  |  |  |  | 26 |  |  |  |  |

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 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=121590274&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=121590274&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=121590274&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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + 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=121590274&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration