XML 43 R27.htm IDEA: XBRL DOCUMENT v3.23.1

STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2023

Stockholders' Equity Note [Abstract]

Reconciliation of the changes in stockholders' equity

Reconciliations of the changes in stockholders' equity for first quarter 2023 and 2022 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, 2022			$	2					$	2,315					$	8,973					$	(205)					$	(5,932)					$	5,153					$	83					$	5,236
Net Earnings			—						—						134						—						—						134						—						134
Cash Dividends Declared (1) ($0.79 per share)			—						—						(94)						—						—						(94)						—						(94)
Other Comprehensive Income (Loss)			—						—						—						(15)						—						(15)						—						(15)
Share-Based Compensation Expense (2)			—						22						—						—						—						22						—						22
Stock Option Exercises			—						2						—						—						—						2						—						2
Other (3)			—						(14)						—						—						—						(14)						3						(11)
Distributions to noncontrolling interest			—						—						—						—						—						—						(12)						(12)
Balance at March 31, 2023			$	2					$	2,325					$	9,013					$	(220)					$	(5,932)					$	5,188					$	74					$	5,262

(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, 2021			$	2					$	2,187					$	8,557					$	(182)					$	(4,860)					$	5,704					$	84					$	5,788
Net Earnings			—						—						235						—						—						235						1						236
Cash Dividends Declared (1) ($0.76 per share)			—						—						(98)						—						—						(98)						—						(98)
Other Comprehensive Income (Loss)			—						—						—						37						—						37						—						37
Share-Based Compensation Expense (2)			—						25						—						—						—						25						—						25
Stock Option Exercises			—						8						—						—						—						8						—						8
Other (3)			—						(18)						—						—						—						(18)						(1)						(19)
Share Repurchase (4)			—						60						—						—						(60)						—						—						—
Balance at March 31, 2022			$	2					$	2,262					$	8,694					$	(145)					$	(4,920)					$	5,893					$	84					$	5,977

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

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

(3)Additional paid-in capital includes value of shares withheld for employees' taxes on vesting of share-based compensation awards.

(4)Treasury shares delivered pursuant to final settlement of the December 2021 accelerated share repurchase program ("2021 ASR") accounted for as a reduction of Additional paid-in capital prior to settlement.

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, 2021			$	(237)					$	59					$	(3)					$	(1)					$	(182)
Period change			7						(27)						(3)						—						(23)
Balance at December 31, 2022			(230)						32						(6)						(1)						(205)
Period change			(1)						(5)						(9)						—						(15)
Balance at March 31, 2023			$	(231)					$	27					$	(15)					$	(1)					$	(220)

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:

			First Quarter
			2023												2022
(Dollars in millions)			Before Tax						Net of Tax						Before Tax						Net of Tax
Other comprehensive income (loss)
Change in cumulative translation adjustment			$	(1)					$	(1)					$	7					$	7
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits			(7)						(5)						(8)						(6)
Derivatives and hedging:
Unrealized gain (loss) during period			(9)						(7)						53						40
Reclassification adjustment for (gains) losses included in net income, net			(3)						(2)						(5)						(4)
Total other comprehensive income (loss)			$	(20)					$	(15)					$	47					$	37

X

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

+ Details

Name:	us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 1
-Section 45
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1

+ Details

Name:	us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

+ Details

Name:	us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

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