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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2013
Quarterly Financial Data [Abstract] |
Quarterly Financial Data | QUARTERLY FINANCIAL DATA
Unaudited | For the quarter ended
| March 31, | June 30, | September 30, | December 31,
2013 |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 10,408 |  |  | $ | 9,844 |  |  | $ | 7,735 |  |  | $ | 7,747 |  |
Cost of goods sold | 6,193 |  |  | 6,057 |  |  | 5,165 |  |  | 5,133 |  |
Income from continuing operations before income taxes | 1,774 |  | 3 |  | 1,365 |  | 3,4 | 228 |  | 3,6 | 122 |  | 3,7,8
Net income | 3,355 |  | 2 |  | 1,034 |  | 5 | 288 |  |  | 185 |  |
Basic earnings per share of common stock from continuing operations 1 | 1.48 |  |  | 1.11 |  |  | 0.28 |  |  | 0.19 |  |
Diluted earnings per share of common stock from continuing operations 1 | 1.47 |  |  | 1.10 |  |  | 0.28 |  |  | 0.19 |  |
2012 |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 10,180 |  |  | $ | 9,917 |  |  | $ | 7,390 |  |  | $ | 7,325 |  |
Cost of goods sold | 5,935 |  |  | 5,844 |  |  | 4,779 |  |  | 4,980 |  |
Income (loss) from continuing operations before income taxes | 1,801 |  | 9 |  | 1,496 |  | 9,10,11 | (175 | ) | 9,12,13 | (34 | ) | 9, 12, 13,14
Net income | 1,504 |  |  | 1,175 |  |  | 8 |  |  | 93 |  |
Basic earnings (loss) per share of common stock from continuing operations 1 | 1.49 |  |  | 1.16 |  |  | (0.05 | ) |  | — |  |
Diluted earnings (loss) per share of common stock from continuing operations 1 | 1.48 |  |  | 1.15 |  |  | (0.05 | ) |  | — |  |
1. | Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations.
2. | First quarter 2013 included a net tax benefit of $42 consisting of a $68 benefit for the 2013 extension of certain U.S business tax provisions offset by a $(26) charge related to the global distribution of Performance Coatings cash proceeds.
3. | First and second quarter 2013 included charges of $(35) and $(80), respectively, recorded in Other operating charges associated with the company's process to fairly resolve claims related to the use of Imprelis®. Third and fourth quarter 2013 included charges of $(65) and $(245), respectively, offset by $25 and $48 of insurance recoveries, respectively. See description in Note 16 for further details.
4. | Second quarter 2013 included a charge of $(11) in Other income, net related to interest on a prior year tax position.
5. | Second quarter 2013 included a charge of $(49) associated with a change in accrual for a prior year tax position (inclusive of a benefit associated with interest on a prior year tax position) offset by a $33 benefit for an enacted tax law change.
6. | Third quarter 2013 included a $(72) charge recorded in Other operating charges related to the titanium dioxide antitrust litigation. See description in Note 16 for further details.
7. | Fourth quarter 2013 included a net $5 restructuring adjustment consisting of a $24 benefit associated with prior year restructuring programs and a $(19) charge associated with restructuring actions related to a joint venture. The majority of the $24 net reduction recorded in Employee separation/asset related charges, net was due to the achievement of work force reductions through non-severance programs associated with the 2012 restructuring program. The charge of $(19) included $(9) recorded in Employee separation/asset related charges, net and $(10) recorded in Other income, net and was the result of restructuring actions related to a joint venture within the Performance Materials segment. See Note 3 for additional information.
8. | Fourth quarter 2013 included a $(129) impairment charge recorded in Employee separation/asset related charges, net related to an asset grouping within the Electronics & Communications segment. See Note 3 for additional information.
9. | First quarter, second quarter, third quarter, and fourth quarter 2012 included charges of $(50), $(265), $(125), and $(135), respectively, recorded in Other operating charges associated with the company's process to fairly resolve claims related to the use of Imprelis®. See description in Note 16 for further details.
10. | Second quarter 2012 included a $(137) charge recorded in Other operating charges primarily related to the company's settlement of litigation with INVISTA.
11. | Second quarter 2012 included a pre-tax gain of $122 recorded in Other income, net associated with the sale of an equity method investment in the Electronics & Communications segment.
12. | Third quarter 2012 included a $(152) restructuring charge recorded in Employee separation/asset related charges, net related to the 2012 restructuring program. Fourth quarter 2012 included a net $(66) charge recorded in Employee separation/asset related charges, net related to costs associated with the 2012 restructuring program partially offset by a reversal of prior years restructuring accruals. See description in Note 3 for further details.
13. | Third and fourth quarter 2012 included asset impairment charges of $(242) and $(33), respectively, recorded in Employee separation/asset related charges, net related to certain asset groupings. See descriptions in Note 3 for further details.
14. | Fourth quarter 2012 included a pre-tax gain of $117 recorded in Other income, net associated with the sale of a business within the Agriculture segment.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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