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Net Sales | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Net Sales | Note 5. Net Sales As described further in "Note 2 – Basis of Presentation", certain prior period amounts reflected in the tables below have been revised to correct for immaterial errors pertaining to income statement presentation of byproduct revenue sales. Disaggregation of Net Sales The following table sets forth a disaggregation of the Company’s net sales by geographic region and segment for the years ended December 31, 2024, 2023 and 2022.
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Net sales by geographic region (1) |  |  |  |  |  |  |  |  |
North America: |  |  |  |  |  |  |  |  |
Thermal & Specialized Solutions |  | $ | 1,029 |  |  | $ | 1,076 |  |  | $ | 996 |
Titanium Technologies |  |  | 1,026 |  |  |  | 1,054 |  |  |  | 1,285 |
Advanced Performance Materials |  |  | 499 |  |  |  | 556 |  |  |  | 632 |
Other Segment |  |  | 35 |  |  |  | 59 |  |  |  | 71 |
Total North America |  |  | 2,589 |  |  |  | 2,745 |  |  |  | 2,984 |
Asia Pacific: |  |  |  |  |  |  |  |  |
Thermal & Specialized Solutions |  |  | 200 |  |  |  | 192 |  |  |  | 178 |
Titanium Technologies |  |  | 657 |  |  |  | 704 |  |  |  | 928 |
Advanced Performance Materials |  |  | 518 |  |  |  | 554 |  |  |  | 657 |
Other Segment |  |  | 11 |  |  |  | 12 |  |  |  | 24 |
Total Asia Pacific |  |  | 1,386 |  |  |  | 1,462 |  |  |  | 1,787 |
Europe, the Middle East, and Africa: |  |  |  |  |  |  |  |  |
Thermal & Specialized Solutions |  |  | 362 |  |  |  | 369 |  |  |  | 320 |
Titanium Technologies |  |  | 511 |  |  |  | 519 |  |  |  | 695 |
Advanced Performance Materials |  |  | 258 |  |  |  | 297 |  |  |  | 283 |
Other Segment |  |  | 7 |  |  |  | 12 |  |  |  | 17 |
Total Europe, the Middle East, and Africa |  |  | 1,138 |  |  |  | 1,197 |  |  |  | 1,315 |
Latin America (2): |  |  |  |  |  |  |  |  |
Thermal & Specialized Solutions |  |  | 239 |  |  |  | 214 |  |  |  | 208 |
Titanium Technologies |  |  | 378 |  |  |  | 403 |  |  |  | 472 |
Advanced Performance Materials |  |  | 51 |  |  |  | 55 |  |  |  | 61 |
Other Segment |  |  | 1 |  |  |  | 2 |  |  |  | 4 |
Total Latin America |  |  | 669 |  |  |  | 674 |  |  |  | 745 |
Total net sales |  | $ | 5,782 |  |  | $ | 6,078 |  |  | $ | 6,831 |
(1) Net sales are attributed to countries based on customer location. (2) Latin America includes Mexico. The following table sets forth a disaggregation of the Company’s net sales by product group and segment for the years ended December 31, 2024, 2023 and 2022. Certain prior period amounts have been recast in order to conform with current presentation of Thermal & Specialized Solutions net sales disaggregation.
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Net sales by product group and segment |  |  |  |  |  |  |  |  |
Opteon TM refrigerants |  | $ | 810 |  |  | $ | 710 |  |  | $ | 597 |
Freon TM refrigerants |  |  | 614 |  |  |  | 722 |  |  |  | 750 |
Foam, propellants, and other |  |  | 406 |  |  |  | 419 |  |  |  | 355 |
Total Thermal & Specialized Solutions |  |  | 1,830 |  |  |  | 1,851 |  |  |  | 1,702 |
Titanium dioxide and other minerals |  |  | 2,572 |  |  |  | 2,680 |  |  |  | 3,380 |
Total Titanium Technologies |  |  | 2,572 |  |  |  | 2,680 |  |  |  | 3,380 |
Advanced materials |  |  | 808 |  |  |  | 916 |  |  |  | 1,140 |
Performance solutions |  |  | 518 |  |  |  | 546 |  |  |  | 493 |
Total Advanced Performance Materials |  |  | 1,326 |  |  |  | 1,462 |  |  |  | 1,633 |
Performance chemicals and intermediates |  |  | 54 |  |  |  | 85 |  |  |  | 116 |
Total Other Segment |  |  | 54 |  |  |  | 85 |  |  |  | 116 |
Total net sales |  | $ | 5,782 |  |  | $ | 6,078 |  |  | $ | 6,831 |
Substantially all of the Company’s net sales are derived from goods and services transferred at a point in time. The Company’s net sales from trademark licensing royalties were not significant for the years ended December 31, 2024, 2023 and 2022. 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, 2024 and 2023.
|  | December 31, |
|  | 2024 |  |  | 2023 |
Contract assets: |  |  |  |  |  |
Accounts receivable - trade, net (Note 11) |  | $ | 619 |  |  | $ | 509 |
Contract liabilities: |  |  |  |  |  |
Deferred revenue |  | $ | 11 |  |  | $ | 16 |
Customer rebates (Note 19) |  |  | 70 |  |  |  | 78 |
Changes in the Company’s deferred revenue balances resulting from additions for advance payments and deductions for amounts recognized in net sales during the year ended December 31, 2024 were not significant. Changes in the Company’s deferred revenue balances during the year ended December 31, 2023 were due to prepaid ore sales. For the years ended December 31, 2024 and 2023, the amount of net sales recognized from performance obligations satisfied in prior periods (e.g., due to changes in transaction price) was not significant. There were no material contract asset balances or capitalized costs associated with obtaining or fulfilling customer contracts as of December 31, 2024 and 2023. Remaining Performance Obligations Certain of the Company’s master services agreements 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, 2024, Chemours had $272 of remaining performance obligations. The Company expects to recognize approximately 41% of its remaining performance obligations as revenue in 2025, approximately 30% as revenue in 2026, and approximately 29% in revenue for 2027. The Company applies the allowable 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, 2024 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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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