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Segment Information | 12 Months Ended
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Dec. 31, 2015
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATION The company consists of 10 businesses which are aggregated into 6 reportable segments based on similar economic characteristics, the nature of the products and production processes, end-use markets, channels of distribution and regulatory environment. The company's reportable segments are Agriculture, Electronics & Communications, Industrial Biosciences, Nutrition & Health, Performance Materials and Safety & Protection. The company includes certain businesses not included in the reportable segments, such as pre-commercial programs, nonaligned businesses and pharmaceuticals in Other. Pre-commercial programs include approximately $400 for the investment in a cellulosic biofuel facility in Nevada, Iowa which includes all material, engineering, and technical design costs involved in construction of the facility. The facility is expected to commence production in the second half of 2016. Major products by segment include: Agriculture (corn hybrids and soybean varieties, herbicides, fungicides and insecticides); Electronics & Communications (photopolymers and electronic materials); Industrial Biosciences (enzymes and bio-based materials); Nutrition & Health (cultures, emulsifiers, texturants, natural sweeteners and soy-based food ingredients); Performance Materials (engineering polymers, packaging and industrial polymers, films and elastomers); and Safety & Protection (nonwovens, aramids and solid surfaces). The company operates globally in substantially all of its product lines. In general, the accounting policies of the segments are the same as those described in Note 1. Exceptions are noted as follows and are shown in the reconciliations below. Segment net assets includes net working capital, net property, plant and equipment, and other noncurrent operating assets and liabilities of the segment. Depreciation and amortization includes depreciation on research and development facilities and amortization of other intangible assets, excluding write-down of assets. Effective July 1, 2015, certain corporate expenses will now be included in segment operating earnings. Reclassifications of prior year data have been made to conform to current year classifications. Segment operating earnings is defined as income (loss) from continuing operations before income taxes excluding significant pre-tax benefits (charges), non-operating pension and other postretirement employee benefit costs, exchange gains (losses), corporate expenses and interest. Non-operating pension and other postretirement employee benefit costs includes all of the components of net periodic benefit cost from continuing operations with the exception of the service cost component.
| Agriculture | Electronics & Communications | Industrial Biosciences | Nutrition & Health | Performance Materials |  | Safety & Protection | Other | Total
2015 |  |  |  |  |  |  |  |  |
Net sales | $ | 9,798 |  | $ | 2,070 |  | $ | 1,171 |  | $ | 3,256 |  | 5,305 |  |  | $ | 3,527 |  | $ | 3 |  | $ | 25,130 |
Operating earnings | 1,646 |  | 359 |  | 203 |  | 373 |  | 1,216 |  |  | 704 |  | (258 | ) | 4,243 |
Depreciation and amortization | 453 |  | 100 |  | 84 |  | 236 |  | 125 |  |  | 175 |  | 4 |  | 1,177 |
Equity in earnings of affiliates | 31 |  | 24 |  | 7 |  | — |  | (8 | ) |  | 23 |  | (30 | ) | 47 |
Segment net assets | 6,751 |  | 1,323 |  | 2,443 |  | 5,457 |  | 2,918 |  |  | 3,045 |  | 219 |  | 22,156 |
Affiliate net assets | 234 |  | 139 |  | 41 |  | 9 |  | 171 |  |  | 73 |  | 21 |  | 688 |
Purchases of property, plant and equipment | 334 |  | 45 |  | 77 |  | 120 |  | 159 |  |  | 105 |  | 130 |  | 970 |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 11,296 |  | $ | 2,381 |  | $ | 1,244 |  | $ | 3,529 |  | $ | 6,059 |  |  | $ | 3,892 |  | $ | 5 |  | $ | 28,406 |
Operating earnings | 2,352 |  | 336 |  | 192 |  | 369 |  | 1,267 |  |  | 772 |  | (256 | ) | 5,032 |
Depreciation and amortization | 436 |  | 97 |  | 85 |  | 264 |  | 139 |  |  | 187 |  | 6 |  | 1,214 |
Equity in earnings of affiliates | 31 |  | 20 |  | 8 |  | — |  | (77 | ) |  | 27 |  | (46 | ) | (37 | )
Segment net assets | 6,696 |  | 1,359 |  | 2,529 |  | 5,942 |  | 3,125 |  |  | 3,100 |  | 267 |  | 23,018 |
Affiliate net assets | 240 |  | 137 |  | 45 |  | 7 |  | 238 |  |  | 80 |  | 14 |  | 761 |
Purchases of property, plant and equipment | 407 |  | 52 |  | 90 |  | 112 |  | 134 |  |  | 105 |  | 200 |  | 1,100 |
2013 |  |  |  |  |  |  |  |  |
Net sales | $ | 11,728 |  | $ | 2,534 |  | $ | 1,211 |  | $ | 3,473 |  | $ | 6,166 |  |  | $ | 3,880 |  | $ | 6 |  | $ | 28,998 |
Operating earnings | 2,480 |  | 314 |  | 151 |  | 286 |  | 1,249 |  |  | 664 |  | (238 | ) | 4,906 |
Depreciation and amortization | 358 |  | 105 |  | 81 |  | 271 |  | 162 |  |  | 198 |  | 6 |  | 1,181 |
Equity in earnings of affiliates | 37 |  | 20 |  | 2 |  | — |  | (9 | ) |  | 21 |  | (48 | ) | 23 |
Segment net assets | 5,919 |  | 1,448 |  | 2,640 |  | 6,472 |  | 3,334 |  | 1 |  | 3,196 |  | 75 |  | 23,084 |
Affiliate net assets | 272 |  | 141 |  | 48 |  | 7 |  | 318 |  |  | 83 |  | 19 |  | 888 |
Purchases of property, plant and equipment | 485 |  | 73 |  | 77 |  | 138 |  | 179 |  |  | 109 |  | 114 |  | 1,175 |
1. | Includes assets held for sale related to GLS/Vinyls of $228 as of December 31, 2013. See Note 3 for additional information.
Reconciliation to Consolidated Financial Statements
Segment operating earnings to income from continuing operations before income taxes | 2015 | 2014 | 2013
Total segment operating earnings | $ | 4,243 |  | $ | 5,032 |  | $ | 4,906 |
Significant pre-tax (charges) benefits not included in segment operating earnings | (38 | ) | 434 |  | (486 | )
Non-operating pension and other postretirement employee benefit costs | (374 | ) | (128 | ) | (533 | )
Net exchange gains (losses), including affiliates | 30 |  | 196 |  | (101 | )
Corporate expenses | (928 | ) | (844 | ) | (772 | )
Interest expense | (342 | ) | (377 | ) | (448 | )
Income from continuing operations before income taxes | $ | 2,591 |  | $ | 4,313 |  | $ | 2,566 |
Segment net assets to total assets at December 31, | 2015 | 2014 | 2013
Total segment net assets | $ | 22,156 |  | $ | 23,018 |  | $ | 23,084 |
Corporate assets 1 | 11,163 |  | 12,889 |  | 13,884 |
Liabilities included in segment net assets | 7,847 |  | 8,356 |  | 9,462 |
Assets related to discontinued operations 2 | — |  | 6,227 |  | 5,712 |
Total assets | $ | 41,166 |  | $ | 50,490 |  | $ | 52,142 |
1. | Pension assets are included in corporate assets.
2. | See Note 1 for additional information on the presentation of Performance Chemicals which met the criteria for discontinued operations.
Other items | Segment Totals | Adjustments 1 | Consolidated Totals
2015 |  |  |  |  |  |
Depreciation and amortization | $ | 1,177 |  | $ | 289 |  | $ | 1,466 |
Equity in earnings of affiliates | 47 |  | 2 |  | 49 |
Affiliate net assets | 688 |  | — |  | 688 |
Purchases of property, plant and equipment | 970 |  | 659 |  | 1,629 |
2014 |  |  |  |  |  |
Depreciation and amortization | $ | 1,214 |  | $ | 403 |  | $ | 1,617 |
Equity in loss of affiliates | (37 | ) | 1 |  | (36 | )
Affiliate net assets | 761 |  | 1 |  | 762 |
Purchases of property, plant and equipment | 1,100 |  | 920 |  | 2,020 |
2013 |  |  |  |  |  |
Depreciation and amortization | $ | 1,181 |  | $ | 422 |  | $ | 1,603 |
Equity in earnings of affiliates | 23 |  | (1 | ) | 22 |
Affiliate net assets | 888 |  | 3 |  | 891 |
Purchases of property, plant and equipment | 1,175 |  | 707 |  | 1,882 |
1. | Adjustments include amounts related to the Performance Chemicals and Performance Coatings businesses which met the criteria for discontinued operations during 2015 and 2012, respectively. See Note 1 for additional information on the presentation of discontinued operations and See Note 3 for depreciation, amortization and purchases of property, plant and equipment related to Performance Chemicals for 2015, 2014 and 2013.
Additional Segment Details 2015 included the following significant pre-tax benefits (charges) which are excluded from segment operating earnings:
Agriculture 1,2,5 | $ | 148 |
Electronics & Communications 1,5 | (78 | )
Industrial Biosciences 1,5 | (52 | )
Nutrition & Health 1,5 | (50 | )
Performance Materials 1,5 | (62 | )
Safety & Protection 1,3,5 | 96 |
Other 1,4,5 | (40 | )
| $ | (38 | )
1. | Included a $10 net restructuring benefit recorded in employee separation/asset related charges, net, associated with the 2014 restructuring program. These adjustments were primarily due to the identification of additional projects in certain segments, offset by lower than estimated individual severance costs and workforce reductions achieved through non-severance programs. The net reduction related to segments as follows: Agriculture - $(3), Electronics & Communications - $15, Industrial Biosciences - $(1), Nutrition & Health - $(3), Performance Materials - $(1), Safety & Protection $4 and Other - $(1). See Note 4 for additional information.
2. | Included $182 of net insurance recoveries recorded in other operating charges for recovery of costs for customer claims related to the use of the Imprelis® herbicide. Included a benefit of $130 in other operating charges for reduction in the accrual for customer claims related to the use of the Imprelis® herbicide. At December 31, 2015, the company had an accrual balance of $41 which represents the company’s best estimate associated with resolving the remaining claims for this matter. See Note 16 for additional information.
3. | Included a gain of $145, net of legal expenses, recorded in other income, net related to the company's settlement of a legal claim.
4. | Included a $(37) pre-tax impairment charge recorded in employee separation / asset related charges, net for a cost basis investment. See Note 4 for additional information.
5. | Included a $(468) restructuring charge consisting of $(463) recorded in employee separation/asset related charges, net and $(5) recorded in other income, net associated with structural actions across all businesses and staff functions globally to operate more efficiently by further consolidating businesses and aligning staff functions more closely with the businesses. The charge included $(351) of severance and related benefit costs, $(103) of asset related charges, and $(14) of contract termination costs. Pre-tax charges by segment are: Agriculture - $(161), Electronics & Communications - $(93), Industrial Biosciences - $(51), Nutrition & Health - $(47), Performance Materials - $(61), Safety & Protection - $(53), and Other - $(2).
2014 included the following significant pre-tax benefits (charges) which are excluded from segment operating earnings:
Agriculture 1,2,3 | $ | 316 |
Electronics & Communications 1 | (84 | )
Industrial Biosciences 1 | (13 | )
Nutrition & Health 1 | (15 | )
Performance Materials 1,4 | 292 |
Safety & Protection 1 | (52 | )
Other 1 | (10 | )
| $ | 434 |
1. | Included a $(407) restructuring charge associated with the 2014 restructuring program consisting of $(342) recorded in employee separation / asset related charges, net and $(65) recorded in other income, net. The pre-tax charges by segment were: Agriculture - $(134), Electronics & Communications - $(84), Industrial Biosciences - $(13), Nutrition & Health - $(15), Performance Materials - $(99), Safety & Protection - $(52); and Other - $(10). See Note 4 for additional information.
2. | Included income of $210 for insurance recoveries, recorded in other operating charges associated with the company's process to fairly resolve claims related to the use of Imprelis®. See Note 16 for additional information.
3. | Included a gain of $240 recorded in other income, net associated with the sale of the copper fungicide and land management businesses, both within the Agriculture segment.
4. | Included a gain of $391 recorded in other income, net associated with the sale of Glass Laminating Solutions / Vinyls. See Note 3 for additional information.
2013 included the following significant pre-tax benefits (charges) which are excluded from segment operating earnings:
Agriculture 1,2 | $ | (351 | )
Electronics & Communications 2,3 | (131 | )
Industrial Biosciences 2 | 1 |
Nutrition & Health 2 | 6 |
Performance Materials 2 | (16 | )
Safety & Protection 2 | 4 |
Other 2 | 1 |
| $ | (486 | )
1. | Included charges of $(425), offset by $73 of insurance recoveries, recorded in other operating charges associated with the company's process to fairly resolve claims related to the use of Imprelis®. See Note 16 for additional information.
2. | Included a net $(5) restructuring adjustment consisting of a $14 benefit associated with prior year restructuring programs and a $(19) charge associated with the restructuring actions related to a joint venture. The majority of the $14 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. Pre-tax amounts by segment were: Agriculture - $1; Electronics & Communications - $(2); Industrial Biosciences - $1; Nutrition & Health - $6; Performance Materials - $(16); Safety & Protection - $4; and Other - $1. See Note 4 for additional information.
3. | 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 4 for additional information.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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