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STOCKHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY
Reconciliations of the changes in stockholders' equity for second quarter and first six months 2025 and 2024 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 March 31, 2025$2 $2,476 $10,099 $(321)$(6,385)$5,871 $73 $5,944 
Net Earnings— — 140 — — 140 — 140 
Cash Dividends Declared (1)
($0.83 per share)
— — (96)— — (96)— (96)
Other Comprehensive Income (Loss)— — — (32)— (32)— (32)
Share-Based Compensation Expense (2)
— 2 — — — 2 — 2 
Share Repurchases— — — — (50)(50)— (50)
Distributions to noncontrolling interest— — — — — — (2)(2)
Balance at June 30, 2025$2 $2,478 $10,143 $(353)$(6,435)$5,835 $71 $5,906 
(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 March 31, 2024$2 $2,388 $9,559 $(328)$(6,083)$5,538 $70 $5,608 
Net Earnings— — 230 — — 230 1 231 
Cash Dividends Declared (1)
($0.81 per share)
— — (95)— — (95)— (95)
Other Comprehensive Income (Loss)— — — 26 — 26 — 26 
Share-Based Compensation Expense (2)
— 14 — — — 14 — 14 
Stock Option Exercises— 15 — — — 15 — 15 
Other
— — — — (1)(1)1 — 
Share Repurchases
— — — — (100)(100)— (100)
Balance at June 30, 2024$2 $2,417 $9,694 $(302)$(6,184)$5,627 $72 $5,699 
(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.
(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, 2024$2 $2,463 $10,013 $(314)$(6,385)$5,779 $73 $5,852 
Net Earnings— — 322 — — 322 1 323 
Cash Dividends Declared (1)
($1.66 per share)
— — (192)— — (192)— (192)
Other Comprehensive Income (Loss)— — — (39)— (39)— (39)
Share-Based Compensation Expense (2)
— 25 — — — 25 — 25 
Stock Option Exercises— 2 — — — 2 — 2 
Other (3)
— (12)— — — (12)— (12)
Share Repurchases— — — — (50)(50)— (50)
Distributions to Noncontrolling Interest— — — — — — (3)(3)
Balance at June 30, 2025$2 $2,478 $10,143 $(353)$(6,435)$5,835 $71 $5,906 
(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, 2023$2 $2,368 $9,490 $(319)$(6,083)$5,458 $72 $5,530 
Net Earnings— — 395 — — 395 1 396 
Cash Dividends Declared (1)
($1.62 per share)
— — (191)— — (191)— (191)
Other Comprehensive Income (Loss)— — — 17 — 17 — 17 
Share-Based Compensation Expense (2)
— 35 — — — 35 — 35 
Stock Option Exercises— 22 — — — 22 — 22 
Other (3)
— (8)— — (1)(9)(9)
Share Repurchases
— — — — (100)(100)— (100)
Distributions to Noncontrolling Interest— — — — — — (1)(1)
Balance at June 30, 2024$2 $2,417 $9,694 $(302)$(6,184)$5,627 $72 $5,699 
(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 the value of shares withheld for employees' taxes on vesting of share-based compensation awards
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, 2023
$(297)$11 $(32)$(1)$(319)
Period change(20)(8)33 — 5 
Balance at December 31, 2024
(317)3 1 (1)(314)
Period change2 — (41)— (39)
Balance at June 30, 2025$(315)$3 $(40)$(1)$(353)
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 OCI recognized in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings are presented below, before tax and net of tax effects:
Second Quarter
20252024
(Dollars in millions)Before TaxNet of TaxBefore TaxNet of Tax
Other comprehensive income (loss)
Change in cumulative translation adjustment$(43)$(6)$15 $9 
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits— — (2)(2)
Derivatives and hedging:
Unrealized gain (loss) during period(43)(32)4 3 
Reclassification adjustment for (gains) losses included in net income, net8 6 21 16 
Total other comprehensive income (loss)$(78)$(32)$38 $26 
First Six Months
20252024
(Dollars in millions)Before TaxNet of TaxBefore TaxNet of Tax
Other comprehensive income (loss)
Change in cumulative translation adjustment$(44)$2 $11 $(1)
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits— — (5)(4)
Derivatives and hedging:
Unrealized gain (loss) during period(60)(45)9 7 
Reclassification adjustment for (gains) losses included in net income, net5 4 19 15 
Total other comprehensive income (loss)$(99)$(39)$34 $17