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Net Sales | 12 Months Ended
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Dec. 31, 2019
Revenue From Contract With Customer [Abstract] |
Net Sales | Note 5. Net Sales Disaggregation of Net Sales The following table sets forth a disaggregation of the Company’s net sales by geographic region and segment and product group for the years ended December 31, 2019 and 2018.
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Net sales by geographic region (1) |  |  |  |  |  |  |  |
North America: |  |  |  |  |  |  |  |
Fluoroproducts |  | $ | 1,104 |  |  | $ | 1,143 |
Chemical Solutions |  |  | 313 |  |  |  | 341 |
Titanium Technologies |  |  | 727 |  |  |  | 894 |
Total North America |  |  | 2,144 |  |  |  | 2,378 |
Asia Pacific: |  |  |  |  |  |  |  |
Fluoroproducts |  |  | 673 |  |  |  | 675 |
Chemical Solutions |  |  | 61 |  |  |  | 81 |
Titanium Technologies |  |  | 809 |  |  |  | 964 |
Total Asia Pacific |  |  | 1,543 |  |  |  | 1,720 |
Europe, the Middle East, and Africa: |  |  |  |  |  |  |  |
Fluoroproducts |  |  | 666 |  |  |  | 825 |
Chemical Solutions |  |  | 23 |  |  |  | 18 |
Titanium Technologies |  |  | 474 |  |  |  | 842 |
Total Europe, the Middle East, and Africa |  |  | 1,163 |  |  |  | 1,685 |
Latin America (2): |  |  |  |  |  |  |  |
Fluoroproducts |  |  | 205 |  |  |  | 219 |
Chemical Solutions |  |  | 136 |  |  |  | 162 |
Titanium Technologies |  |  | 335 |  |  |  | 474 |
Total Latin America |  |  | 676 |  |  |  | 855 |
Total net sales |  | $ | 5,526 |  |  | $ | 6,638 |
Net sales by segment and product group |  |  |  |  |  |  |  |
Fluoroproducts: |  |  |  |  |  |  |  |
Fluorochemicals |  | $ | 1,318 |  |  | $ | 1,497 |
Fluoropolymers |  |  | 1,330 |  |  |  | 1,365 |
Chemical Solutions: |  |  |  |  |  |  |  |
Mining solutions |  |  | 268 |  |  |  | 289 |
Performance chemicals and intermediates |  |  | 265 |  |  |  | 313 |
Titanium Technologies: |  |  |  |  |  |  |  |
Titanium dioxide and other minerals |  |  | 2,345 |  |  |  | 3,174 |
Total net sales |  | $ | 5,526 |  |  | $ | 6,638 |
| (1) | Net sales are attributable to countries based on customer location.
| (2) | Latin America includes Mexico.
Substantially all of the Company’s net sales are derived from goods and services transferred at a point in time. Contract Balances The Company’s assets and liabilities from contracts with customers constitute accounts receivable - trade, deferred revenue, and customer rebates. An amount for accounts receivable - trade is recorded when the right to consideration under a contract becomes unconditional. An amount for deferred revenue is recorded when consideration is received prior to the conclusion that a contract exists, or when a customer transfers consideration prior to the Company satisfying its performance obligations under a contract. Customer rebates represent an expected refund liability to a customer based on a contract. In contracts with customers where a rebate is offered, it is generally applied retroactively based on the achievement of a certain sales threshold. As revenue is recognized, the Company estimates whether or not the sales threshold will be achieved to determine the amount of variable consideration to include in the transaction price. The following table sets forth the Company’s contract balances from contracts with customers at December 31, 2019 and 2018.
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Accounts receivable - trade, net (1) |  | $ | 602 |  |  | $ | 790 |
Customer rebates |  |  | 72 |  |  |  | 79 |
| (1) | Accounts receivable - trade, net includes trade notes receivable of less than $1 and $2 at December 31, 2019 and 2018, respectively, and is net of allowances for doubtful accounts of $5 at December 31, 2019 and 2018. Such allowances are equal to the estimated uncollectible amounts.
The Company’s deferred revenue balances at December 31, 2019 and 2018 were not significant. Additionally, changes in the Company’s deferred revenue balances resulting from additions for advance payments and deductions for amounts recognized in net sales during the years ended December 31, 2019 and 2018, were not significant. For the years ended December 31, 2019 and 2018, the amount of revenue recognized from performance obligations satisfied in prior periods (e.g., due to changes in transaction price) was not significant. There were no other contract asset balances or capitalized costs associated with obtaining or fulfilling customer contracts at December 31, 2019 and 2018. Remaining Performance Obligations Certain of the Company’s MSA or other arrangements contain take-or-pay clauses, whereby customers are required to purchase a fixed minimum quantity of product during a specified period, or pay the Company for such orders, even if not requested by the customer. The Company considers these take-or-pay clauses to be an enforceable contract, and as such, the legally-enforceable minimum amounts under such an arrangement are considered to be outstanding performance obligations on contracts with an original expected duration greater than one year. At December 31, 2019 and 2018, Chemours had $83 and $119 of remaining performance obligations, respectively. The Company expects to recognize approximately 69% of its remaining performance obligations as revenue in 2020, an approximate additional 16% in 2021, and the balance thereafter. The Company applies the practical expedient and does not include remaining performance obligations that have original expected durations of one year or less, or amounts for variable consideration allocated to wholly-unsatisfied performance obligations or wholly-unsatisfied distinct goods that form part of a single performance obligation, if any. Amounts for contract renewals that are not yet exercised by December 31, 2019 and 2018 are also excluded.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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