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Unaudited Quarterly Financial Information (Tables)
 12 Months Ended
Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Results of Operations

The following sets forth a summary of the Company's quarterly results of operations for the years ended December 31, 2024, 2023 and 2022.

 

 

 

For the Three Months Ended

 

 

 

 

2024

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

 

Full Year (1)

 

Net sales (2)

 

$

1,362

 

 

$

1,554

 

 

$

1,508

 

 

$

1,359

 

 

$

5,782

 

Cost of goods sold (2)

 

$

1,076

 

 

$

1,248

 

 

$

1,221

 

 

$

1,086

 

 

$

4,631

 

Income (loss) before income taxes

 

$

67

 

 

$

82

 

 

$

(30

)

 

$

9

 

 

$

127

 

Net income (loss)

 

$

52

 

 

$

70

 

 

$

(27

)

 

$

(8

)

 

$

86

 

Net income (loss) attributable to Chemours

 

$

52

 

 

$

70

 

 

$

(27

)

 

$

(8

)

 

$

86

 

Basic earnings (loss) per share of common stock

 

$

0.35

 

 

$

0.47

 

 

$

(0.18

)

 

$

(0.05

)

 

$

0.58

 

Diluted earnings (loss) per share of common stock

 

$

0.34

 

 

$

0.46

 

 

$

(0.18

)

 

$

(0.05

)

 

$

0.57

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

 

 

 

2023

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

 

Full Year (1)

 

Net sales (2)

 

$

1,549

 

 

$

1,660

 

 

$

1,501

 

 

$

1,368

 

 

$

6,078

 

Cost of goods sold (2)

 

$

1,181

 

 

$

1,250

 

 

$

1,228

 

 

$

1,113

 

 

$

4,772

 

Income (loss) before income taxes

 

$

173

 

 

$

(433

)

 

$

13

 

 

$

(71

)

 

$

(318

)

Net income (loss)

 

$

145

 

 

$

(376

)

 

$

12

 

 

$

(18

)

 

$

(237

)

Net income (loss) attributable to Chemours

 

$

145

 

 

$

(376

)

 

$

12

 

 

$

(18

)

 

$

(238

)

Basic earnings (loss) per share of common stock

 

$

0.97

 

 

$

(2.52

)

 

$

0.08

 

 

$

(0.12

)

 

$

(1.60

)

Diluted earnings (loss) per share of common stock

 

$

0.96

 

 

$

(2.52

)

 

$

0.08

 

 

$

(0.12

)

 

$

(1.60

)
(1)
Individual quarters may not sum to full year amounts due to rounding.
(2)
As revised, as noted below.
Summary of Revised Interim Consolidated Statements of Operations (unaudited)

Revised Interim Consolidated Statements of Operations (unaudited)

 

 

 

Three months ended March 31, 2023

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

1,536

 

$

 

13

 

$

 

1,549

 

Cost of goods sold

$

 

1,168

 

$

 

13

 

$

 

1,181

 

Gross profit

$

 

368

 

$

 

—

 

$

 

368

 

 

 

 

Three months ended June 30, 2023

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

1,643

 

$

 

17

 

$

 

1,660

 

Cost of goods sold

$

 

1,233

 

$

 

17

 

$

 

1,250

 

Gross profit

$

 

410

 

$

 

—

 

$

 

410

 

 

 

 

Six months ended June 30, 2023

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

3,179

 

$

 

30

 

$

 

3,209

 

Cost of goods sold

$

 

2,401

 

$

 

30

 

$

 

2,431

 

Gross profit

$

 

778

 

$

 

—

 

$

 

778

 

 

 

 

 

Three months ended September 30, 2023

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

1,487

 

$

 

14

 

$

 

1,501

 

Cost of goods sold

$

 

1,214

 

$

 

14

 

$

 

1,228

 

Gross profit

$

 

273

 

$

 

—

 

$

 

273

 

 

 

 

Nine months ended September 30, 2023

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

4,666

 

$

 

44

 

$

 

4,710

 

Cost of goods sold

$

 

3,615

 

$

 

44

 

$

 

3,659

 

Gross profit

$

 

1,051

 

$

 

—

 

$

 

1,051

 

 

 

 

Three months ended March 31, 2024

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

1,350

 

$

 

12

 

$

 

1,362

 

Cost of goods sold

$

 

1,064

 

$

 

12

 

$

 

1,076

 

Gross profit

$

 

286

 

$

 

—

 

$

 

286

 

 

 

 

Three months ended June 30, 2024

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

1,538

 

$

 

16

 

$

 

1,554

 

Cost of goods sold

$

 

1,232

 

$

 

16

 

$

 

1,248

 

Gross profit

$

 

306

 

$

 

—

 

$

 

306

 

 

 

 

Six months ended June 30, 2024

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

2,887

 

$

 

28

 

$

 

2,915

 

Cost of goods sold

$

 

2,294

 

$

 

29

 

$

 

2,323

 

Gross profit

$

 

593

 

$

 

(1

)

$

 

592

 

Other expense, net

$

 

(1

)

$

 

1

 

$

 

—

 

Income before income taxes

$

 

149

 

$

 

—

 

$

 

149

 

 

 

 

Three months ended September 30, 2024

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

1,501

 

$

 

7

 

$

 

1,508

 

Cost of goods sold

$

 

1,215

 

$

 

6

 

$

 

1,221

 

Gross profit

$

 

286

 

$

 

1

 

$

 

287

 

Other income, net

$

 

7

 

$

 

(1

)

$

 

6

 

Loss before income taxes

$

 

(30

)

$

 

—

 

$

 

(30

)

 

 

 

Nine months ended September 30, 2024

 

 

 

As reported

 

 

Revision

 

 

As revised

 

Net sales

$

 

4,388

 

$

 

35

 

$

 

4,423

 

Cost of goods sold

$

 

3,510

 

$

 

35

 

$

 

3,545

 

Gross profit

$

 

878

 

$

 

—

 

$

 

878