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STOCKHOLDERS' EQUITY
 9 Months Ended
Sep. 30, 2023
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY
Reconciliations of the changes in stockholders' equity for third quarter and first nine months 2023 and 2022 are provided below:
(Dollars in millions, except per share amount)Common Stock at Par ValueAdditional Paid-in CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Treasury Stock at CostTotal Eastman Stockholders' EquityNoncontrolling InterestTotal Equity
Balance at June 30, 2023$2 $2,342 $9,190 $(271)$(5,982)$5,281 $71 $5,352 
Net Earnings— — 178 — — 178 1 179 
Cash Dividends Declared (1)
($0.79 per share)
— — (94)— — (94)— (94)
Other Comprehensive Income (Loss)— — — (23)— (23)— (23)
Share-Based Compensation Expense (2)
— 10 — — — 10 — 10 
Balance at September 30, 2023$2 $2,352 $9,274 $(294)$(5,982)$5,352 $72 $5,424 
(Dollars in millions, except per share amount)Common Stock at Par ValueAdditional Paid-in CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Treasury Stock at CostTotal Eastman Stockholders' EquityNoncontrolling InterestTotal Equity
Balance at June 30, 2022$2 $2,179 $8,857 $(143)$(5,572)$5,323 $84 $5,407 
Net Earnings— — 301 — — 301 — 301 
Cash Dividends Declared (1)
($0.76 per share)
— — (93)— — (93)— (93)
Other Comprehensive Income (Loss)— — — (9)— (9)— (9)
Share-Based Compensation Expense (2)
— 12 — — — 12 — 12 
Other— — — — — — (1)(1)
Share Repurchases (3)
— 110 — — (260)(150)— (150)
Balance at September 30, 2022$2 $2,301 $9,065 $(152)$(5,832)$5,384 $83 $5,467 
(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 settlement of shares repurchased under the second quarter 2022 accelerated share repurchase program ("2022 ASR").
(Dollars in millions, except per share amount)Common Stock at Par ValueAdditional Paid-in CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Treasury Stock at CostTotal Eastman Stockholders' EquityNoncontrolling InterestTotal Equity
Balance at December 31, 2022$2 $2,315 $8,973 $(205)$(5,932)$5,153 $83 $5,236 
Net Earnings— — 584 — — 584 1 585 
Cash Dividends Declared (1)
($2.37 per share)
— — (283)— — (283)— (283)
Other Comprehensive Income (Loss)— — — (89)— (89)— (89)
Share-Based Compensation Expense (2)
— 49 — — — 49 — 49 
Stock Option Exercises— 2 — — — 2 — 2 
Other (3)
— (14)— — — (14)2 (12)
Share Repurchases— — — — (50)(50)— (50)
Distributions to Noncontrolling Interest— — — — — — (14)(14)
Balance at September 30, 2023$2 $2,352 $9,274 $(294)$(5,982)$5,352 $72 $5,424 
(Dollars in millions, except per share amount)Common Stock at Par ValueAdditional Paid-in CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Treasury Stock at CostTotal Eastman Stockholders' EquityNoncontrolling InterestTotal Equity
Balance at December 31, 2021$2 $2,187 $8,557 $(182)$(4,860)$5,704 $84 $5,788 
Net Earnings— — 792 — — 792 2 794 
Cash Dividends Declared (1)
($2.28 per share)
— — (284)— — (284)— (284)
Other Comprehensive Income (Loss)— — — 30 — 30 — 30 
Share-Based Compensation Expense (2)
— 54 — — — 54 — 54 
Stock Option Exercises— 9 — — — 9 — 9 
Other (3)
— (19)— — — (19)(3)(22)
Share Repurchases (4)
— 70 — — (972)(902)— (902)
Balance at September 30, 2022$2 $2,301 $9,065 $(152)$(5,832)$5,384 $83 $5,467 
(1)Cash dividends declared consists of cash dividends paid and dividends declared but unpaid.
(2)Share-based compensation expense is based on the fair value of share-based awards.
(3)Additional paid-in capital includes value of shares withheld for employees' taxes on vesting of share-based compensation awards.
(4)Additional paid-in capital includes the net premium of final settlements for treasury shares delivered in 2022 under the 2022 ASR and the fourth quarter 2021 accelerated share repurchase program ("2021 ASR").
Accumulated Other Comprehensive Income (Loss), Net of Tax
(Dollars in millions)Cumulative Translation AdjustmentBenefit Plans Unrecognized Prior Service CreditsUnrealized Gains (Losses) on Derivative InstrumentsUnrealized Losses on InvestmentsAccumulated Other Comprehensive Income (Loss)
Balance at December 31, 2021$(237)$59 $(3)$(1)$(182)
Period change7 (27)(3)— (23)
Balance at December 31, 2022(230)32 (6)(1)(205)
Period change(67)(16)(6)— (89)
Balance at September 30, 2023$(297)$16 $(12)$(1)$(294)

Amounts of other comprehensive income (loss) are presented net of applicable taxes. Eastman recognizes deferred income taxes on the CTA related to branch operations and income from other entities included in the Company's consolidated U.S. tax return. No deferred income taxes are recognized on the CTA of other subsidiaries outside the United States because the CTA is considered to be a component of indefinitely invested, unremitted earnings of these foreign subsidiaries.

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
20232022
(Dollars in millions)Before TaxNet of TaxBefore TaxNet of Tax
Other comprehensive income (loss)
Change in cumulative translation adjustment$4 $(24)$(19)$(19)
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits(7)(6)(8)(6)
Derivatives and hedging:
Unrealized gain (loss) during period12 9 40 30 
Reclassification adjustment for (gains) losses included in net income, net(3)(2)(19)(14)
Total other comprehensive income (loss)$6 $(23)$(6)$(9)
First Nine Months
20232022
(Dollars in millions)Before TaxNet of TaxBefore TaxNet of Tax
Other comprehensive income (loss)
Change in cumulative translation adjustment$(39)$(67)$4 $4 
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits(20)(16)(28)(21)
Derivatives and hedging:
Unrealized gain (loss) during period(4)(3)129 97 
Reclassification adjustment for (gains) losses included in net income, net(5)(3)(67)(50)
Total other comprehensive income (loss)$(68)$(89)$38 $30