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Geographic and Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Net Sales and Property, Plant and Equipment, Net by Geographical Area | The following table sets forth the geographic locations of the Company’s net sales for the years ended and property, plant, and equipment, net as of December 31, 2024, 2023 and 2022.
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | Net Sales (1) |  |  | Property, Plant, and Equipment, Net |  |  | Net Sales (1) |  |  | Property, Plant, and Equipment, Net |  |  | Net Sales (1) |  |  | Property, Plant, and Equipment, Net |
North America |  | $ | 2,589 |  |  | $ | 2,435 |  |  | $ | 2,745 |  |  | $ | 2,345 |  |  | $ | 2,984 |  |  | $ | 2,320 |
Asia Pacific |  |  | 1,386 |  |  |  | 52 |  |  |  | 1,462 |  |  |  | 56 |  |  |  | 1,787 |  |  |  | 127 |
Europe, the Middle East, and Africa |  |  | 1,138 |  |  |  | 285 |  |  |  | 1,197 |  |  |  | 298 |  |  |  | 1,315 |  |  |  | 249 |
Latin America (2) |  |  | 669 |  |  |  | 411 |  |  |  | 674 |  |  |  | 517 |  |  |  | 745 |  |  |  | 475 |
Total |  | $ | 5,782 |  |  | $ | 3,183 |  |  | $ | 6,078 |  |  | $ | 3,216 |  |  | $ | 6,831 |  |  | $ | 3,171 |
(1) Net sales are attributed to countries based on customer location. (2) Latin America includes Mexico.
Schedule of Segment Information | The following table sets forth financial information for the Company’s reportable segments as of, and for the years ended December 31, 2024, 2023 and 2022.
|  | Thermal & Specialized Solutions |  |  | Titanium Technologies |  |  | Advanced Performance Materials |
Year Ended December 31, 2024 |  |  |  |  |  |  |  |  |
Segment information from Consolidated Statements of Operations: |  |  |  |  |  |  |  |
Net sales to external customers (1) |  | $ | 1,830 |  |  | $ | 2,572 |  |  | $ | 1,326 |
Segment cost of goods sold |  |  | 1,180 |  |  |  | 2,248 |  |  |  | 1,102 |
Segment selling, general, and administrative expense |  |  | 104 |  |  |  | 118 |  |  |  | 147 |
Segment research and development expense |  |  | 29 |  |  |  | 28 |  |  |  | 50 |
Add back: Depreciation and amortization (2) |  |  | 53 |  |  |  | 133 |  |  |  | 89 |
Equity in earnings of affiliates |  |  | (8 | ) |  |  | — |  |  |  | (35 | )
Other segment items (3) |  |  | 2 |  |  |  | (1 | ) |  |  | (10 | )
Segment Adjusted EBITDA |  | $ | 576 |  |  | $ | 312 |  |  | $ | 161 |
Segment information from Consolidated Balance Sheets: |  |  |  |  |  |  |  |
Total assets |  | $ | 1,549 |  |  | $ | 2,290 |  |  | $ | 1,748 |
Investments in affiliates |  |  | 72 |  |  |  | — |  |  |  | 81 |
Segment information from Consolidated Statements of Cash Flow: |  |  |  |  |  |  |  |
Purchases of property, plant, and equipment |  | $ | 168 |  |  | $ | 55 |  |  | $ | 122 |
|  | Thermal & Specialized Solutions |  |  | Titanium Technologies |  |  | Advanced Performance Materials |
Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |
Segment information from Consolidated Statements of Operations: |  |  |  |  |  |  |  |
Net sales to external customers (1) |  | $ | 1,851 |  |  | $ | 2,680 |  |  | $ | 1,462 |
Segment cost of goods sold |  |  | 1,130 |  |  |  | 2,370 |  |  |  | 1,128 |
Segment selling, general, and administrative expense |  |  | 98 |  |  |  | 122 |  |  |  | 145 |
Segment research and development expense |  |  | 25 |  |  |  | 32 |  |  |  | 48 |
Add back: Depreciation and amortization (2) |  |  | 62 |  |  |  | 133 |  |  |  | 85 |
Equity in earnings of affiliates |  |  | (10 | ) |  |  | — |  |  |  | (35 | )
Other segment items (3) |  |  | (15 | ) |  |  | (1 | ) |  |  | (12 | )
Segment Adjusted EBITDA |  | $ | 685 |  |  | $ | 290 |  |  | $ | 273 |
Segment information from Consolidated Balance Sheets: |  |  |  |  |  |  |  |
Total assets |  | $ | 1,283 |  |  | $ | 2,226 |  |  | $ | 1,833 |
Investments in affiliates |  |  | 75 |  |  |  | — |  |  |  | 84 |
Segment information from Consolidated Statements of Cash Flow: |  |  |  |  |  |  |  |
Purchases of property, plant, and equipment |  | $ | 75 |  |  | $ | 83 |  |  | $ | 193 |
|  | Thermal & Specialized Solutions |  |  | Titanium Technologies |  |  | Advanced Performance Materials |
Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |
Segment information from Consolidated Statements of Operations: |  |  |  |  |  |  |  |
Net sales to external customers (1) |  | $ | 1,702 |  |  | $ | 3,380 |  |  | $ | 1,633 |
Segment cost of goods sold |  |  | 1,070 |  |  |  | 2,746 |  |  |  | 1,184 |
Segment selling, general, and administrative expense |  |  | 101 |  |  |  | 125 |  |  |  | 153 |
Segment research and development expense |  |  | 25 |  |  |  | 34 |  |  |  | 54 |
Add back: Depreciation and amortization (2) |  |  | 55 |  |  |  | 125 |  |  |  | 82 |
Equity in earnings of affiliates |  |  | (24 | ) |  |  | — |  |  |  | (31 | )
Other segment items (3) |  |  | (18 | ) |  |  | (1 | ) |  |  | (12 | )
Segment Adjusted EBITDA |  | $ | 603 |  |  | $ | 601 |  |  | $ | 367 |
Segment information from Consolidated Balance Sheets: |  |  |  |  |  |  |  |
Total assets |  | $ | 1,238 |  |  | $ | 2,384 |  |  | $ | 1,742 |
Investments in affiliates |  |  | 82 |  |  |  | — |  |  |  | 93 |
Segment information from Consolidated Statements of Cash Flow: |  |  |  |  |  |  |  |
Purchases of property, plant, and equipment |  | $ | 30 |  |  | $ | 149 |  |  | $ | 115 |
(1) Segment net sales to external customers are provided by product group in “Note 5 – Net Sales". (2) Segment depreciation and amortization expense is included as a component of cost of goods sold; selling, general, and administrative expense; and research and development expense in the amounts regularly provided to the CODM and are therefore added back to arrive at Segment Adjusted EBITDA. (3) Other segment items includes segment other (income) expense, net.
Summary of Reconciliation for Summary Financial Information for Reportable Segments | The following table sets forth a reconciliation for instances in which the above financial information for the Company’s reportable segments does not sum to consolidated amounts.
Year Ended December 31, |  | Segment Total |  |  | Other Non-Reportable Segment |  |  | Corporate |  |  | Total Consolidated |
2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 5,728 |  |  | $ | 54 |  |  | $ | — |  |  | $ | 5,782 |
Depreciation and amortization |  | $ | 275 |  |  | $ | 5 |  |  | $ | 21 |  |  | $ | 301 |
Total assets (1) |  | $ | 5,587 |  |  | $ | 97 |  |  | $ | 1,831 |  |  | $ | 7,515 |
Purchases of property, plant, and equipment |  | $ | 345 |  |  | $ | 5 |  |  | $ | 10 |  |  | $ | 360 |
2023 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 5,993 |  |  | $ | 85 |  |  | $ | — |  |  | $ | 6,078 |
Depreciation and amortization |  | $ | 280 |  |  | $ | 6 |  |  | $ | 21 |  |  | $ | 307 |
Total assets (1) |  | $ | 5,342 |  |  | $ | 96 |  |  | $ | 2,813 |  |  | $ | 8,251 |
Purchases of property, plant, and equipment |  | $ | 351 |  |  | $ | 7 |  |  | $ | 12 |  |  | $ | 370 |
2022 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 6,715 |  |  | $ | 116 |  |  | $ | — |  |  | $ | 6,831 |
Depreciation and amortization |  | $ | 262 |  |  | $ | 8 |  |  | $ | 21 |  |  | $ | 291 |
Total assets (1) |  | $ | 5,364 |  |  | $ | 124 |  |  | $ | 2,152 |  |  | $ | 7,640 |
Purchases of property, plant, and equipment |  | $ | 294 |  |  | $ | 6 |  |  | $ | 7 |  |  | $ | 307 |
(1) Corporate assets primarily includes cash and cash equivalents, property, plant and equipment associated with the Chemours Discovery Hub, pension assets and deferred tax assets.
Reconciliation of Segment Adjusted EBITDA from Segments to Consolidated Income (Loss) Before Income Taxes | The following table sets forth a reconciliation of Segment Adjusted EBITDA to the Company’s consolidated income (loss) before income taxes for the years ended December 31, 2024, 2023 and 2022.
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Thermal & Specialized Solutions |  | $ | 576 |  |  | $ | 685 |  |  | $ | 603 |
Titanium Technologies |  |  | 312 |  |  |  | 290 |  |  |  | 601 |
Advanced Performance Materials |  |  | 161 |  |  |  | 273 |  |  |  | 367 |
Segment Adjusted EBITDA |  |  | 1,049 |  |  |  | 1,248 |  |  |  | 1,571 |
Other non-reportable segment Adjusted EBITDA |  |  | 8 |  |  |  | 18 |  |  |  | 2 |
Corporate expenses (1) |  |  | (255 | ) |  |  | (212 | ) |  |  | (212 | )
Unallocated Items: |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | (264 | ) |  |  | (208 | ) |  |  | (163 | )
Depreciation and amortization |  |  | (301 | ) |  |  | (307 | ) |  |  | (291 | )
Non-operating pension and other post-retirement employee benefit income |  |  | 3 |  |  |  | — |  |  |  | 5 |
Exchange losses, net (Note 8) |  |  | (9 | ) |  |  | (38 | ) |  |  | (15 | )
Restructuring, asset-related, and other charges (Note 7) |  |  | (58 | ) |  |  | (153 | ) |  |  | (15 | )
Goodwill impairment charge (Note 15) |  |  | (56 | ) |  |  | — |  |  |  | — |
Inventory write-offs (2) |  |  | — |  |  |  | (40 | ) |  |  | — |
(Loss) gain on extinguishment of debt |  |  | (1 | ) |  |  | (1 | ) |  |  | 7 |
Gain on sales of assets and businesses, net (Note 4) |  |  | 3 |  |  |  | 110 |  |  |  | 21 |
Transaction costs (3) |  |  | (18 | ) |  |  | (16 | ) |  |  | — |
Qualified spend recovery (4) |  |  | 26 |  |  |  | 54 |  |  |  | 58 |
Litigation-related charges (5) |  |  | 15 |  |  |  | (764 | ) |  |  | (23 | )
Environmental charges (6) |  |  | (15 | ) |  |  | (9 | ) |  |  | (204 | )
Income (loss) before income taxes |  | $ | 127 |  |  | $ | (318 | ) |  | $ | 741 |
(1) Includes corporate costs and certain legal and environmental expenses, and stock-based compensations expenses excluding unallocated items as listed above. (2) Inventory adjustments for the year ended December 31, 2023 represents write-off of certain raw materials and stores inventories from the Kuan Yin, Taiwan plant closure, which was not allocated in the measurement of Titanium Technologies segment profitability used by the CODM. (3) For the year ended December 31, 2024, transaction costs includes $16 of third-party costs related to the Titanium Technologies Transformation Plan, which was not allocated in the measurement of Titanium Technologies segment profitability used by the CODM. For the year ended December 31, 2023, transaction costs includes $7 of costs associated with the Senior Secured Credit Facilities, which is discussed in further detail in "Note 20 – Debt", and $9 of third-party costs related to the Titanium Technologies Transformation Plan. (4) Qualified spend recovery represents costs and expenses that were previously excluded from the determination of Segment Adjusted EBITDA, reimbursable by DuPont and/or Corteva as part of the Company's cost-sharing agreement under the terms of the MOU. Terms of the MOU are discussed in further detail in "Note 22 – Commitments and Contingent Liabilities". (5) Litigation-related charges pertains to litigation settlements, PFOA drinking water treatment accruals, and other related legal fees. For the year ended December 31, 2024, litigation-related charges primarily includes $44 of benefits from insurance recoveries, along with the $29 accrual associated with the Ohio MDL. For the year ended December 31, 2023, litigation-related charges includes the $592 accrual related to the United States Public Water System Class Action Suit Settlement plus $24 of third-party legal fees directly related to the settlement, $55 of charges related to the Company's portion of Chemours, DuPont, Corteva, EID and the State of Ohio's agreement entered into in November 2023, $13 related to the Company's portion of the supplemental payment to the State of De laware, $76 for other PFAS litigation matters, and $4 of other litigation matters. For the year ended December 31, 2022, litigation-related charges primarily include proceeds from a settlement in a patent infringement matter relating to certain copolymer patents associated with the Company’s Advanced Performance Materials segment and $20 associated with the Company's portion of the potential loss in the single matter not included in the Leach settlement. (6) Environmental charges pertains to management’s assessment of estimated liabilities associated with certain non-recurring environmental remediation expenses at various sites. For the year ended December 31, 2024, environmental charges primarily includes off-site remediation costs at Dordrecht Works. For the years ended December 31, 2022, environmental charges primarily include $196 related to on-site and off-site remediation costs at Fayetteville. Refer to “Note 22 – Commitments and Contingent Liabilities” for further details.

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