8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):January 28, 2019

CELANESE CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	001-32410	98-0420726
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

222 West Las Colinas Blvd. Suite 900N, Irving, TX 75039

(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: (972) 443-4000

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company  o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  o

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Item 2.02 Results of Operations and Financial Condition

On January 28, 2019, Celanese Corporation (the "Company") issued a press release reporting the financial results for its fourth quarter and full year 2018. A copy of the press release is attached to this Current Report on Form 8-K ("Current Report") as Exhibit 99.1 and is incorporated herein solely for purposes of this Item 2.02 disclosure. Each non-US GAAP financial measure appearing in the press release is accompanied by the most directly comparable US GAAP financial measure and is reconciled to the most comparable US GAAP financial measure in Exhibit 99.2, which includes other supplemental information of interest to investors, analysts and other parties, including the reasons why management believes such Non-US GAAP financial measures provide useful information to investors, and which is incorporated herein solely for purposes of this Item 2.02 disclosure.

Item 9.01 Financial Statements and Exhibits

(d) The following exhibits are being filed herewith:

Exhibit Number
	Description
99.1	Press Release dated January 28, 2019*
99.2	Non-US GAAP Financial Measures and Supplemental Information dated January 28, 2019*

*In connection with the disclosure set forth in Item 2.02, the information in this Current Report, including the exhibits attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of such section. The information in this Current Report, including the exhibits, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CELANESE CORPORATION
By:	/s/ JAMES R. PEACOCK III
Name:	James R. Peacock III
Title:	Vice President, Deputy General Counsel and Corporate Secretary
Date:	January 28, 2019

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EX-99.1

Exhibit 99.1

Celanese Corporation

222 West Las Colinas Blvd.

Suite 900N

Irving, Texas 75039

Celanese Corporation Reports Full Year 2018 and Fourth Quarter Earnings;

Reaffirms Long-term Growth Outlook

Dallas, January 28, 2019: Celanese Corporation (NYSE: CE), a global specialty materials company, today reported record GAAP diluted earnings per share of $8.95 and adjusted earnings per share of $11.00 for 2018. The Company also reported fourth quarter GAAP diluted earnings per share of $0.73 and adjusted earnings per share of $2.38. The difference between GAAP and adjusted earnings per share for the quarter and year was due to Certain Items, primarily a pension mark to market adjustment as well as expenses related to M&A and restructuring activities. Net sales for the year grew 17 percent over 2017 to $7.2 billion on price and volume expansion. Robust contributions from both Engineered Materials and the Acetyl Chain drove financial performance for the year. The Acetyl Chain elevated earnings to new levels by exercising its business model to grow volume and price year over year amid improving industry fundamentals. Engineered Materials grew through expanded project commercializations, contributions from the Nilit and Omni acquisitions, and improved joint venture performance. Celanese generated operating cash flow of $1.6 billion and free cash flow of $1.2 billion, both records, and deployed it to high return investments with the Clear Lake VAM expansion, acquisition of a Linde synthesis gas unit at Clear Lake, and acquisitions of Omni and Next Polymers. During the year, Celanese returned a record $1.1 billion in cash to shareholders through share repurchases and dividends.

Fourth Quarter and Full Year 2018 Highlights:

	Three Months Ended December 31,				Year Ended December 31,
	2018		2017		2018		2017
	(unaudited)
	(In $ millions, except per share data)
Net Sales
Engineered Materials	622		580		2,593		2,213
Acetate Tow	161		157		649		668
Acetyl Chain	936		888		4,042		3,371
Intersegment Eliminations	(30	)	(32	)	(129	)	(112	)
Total	1,689		1,593		7,155		6,140

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	Three Months Ended December 31,				Year Ended December 31,
	2018		2017		2018		2017
			(As Adjusted)				(As Adjusted)
	(unaudited)
	(In $ millions, except per share data)
Operating Profit (Loss)
Engineered Materials	95		98		460		412
Acetate Tow	19		41		130		189
Acetyl Chain	211		175		1,024		509
Other Activities	(66	)	(74	)	(280	)	(253	)
Total	259		240		1,334		857

Net earnings (loss)	101			204			1,213			849
Adjusted EBIT(1)(2)
Engineered Materials	150			142			694			599
Acetate Tow	53			68			273			301
Acetyl Chain	215			178			1,022			575
Other Activities	(25		)	(36		)	(137		)	(119		)
Total	393			352			1,852			1,356
Equity Earnings and Dividend Income, Other Income (Expense)
Engineered Materials	49			43			219			171
Acetate Tow	25			26			116			107
Operating EBITDA(1)	471			431			2,168			1,659
Diluted EPS - continuing operations	$	0.73		$	1.50		$	8.95		$	6.19
Diluted EPS - total	$	0.75		$	1.49		$	8.91		$	6.09
Adjusted EPS(1)	$	2.38		$	1.98		$	11.00		$	7.51
Net cash provided by (used in) investing activities	(98		)	(92		)	(507		)	(549		)
Net cash provided by (used in) financing activities	(526		)	145			(1,165		)	(351		)
Net cash provided by (used in) operating activities	363			58			1,558			803
Free cash flow(1)	261			(38		)	1,198			509

______________________________

⁽¹⁾  See "Non-US GAAP Financial Measures" below.

⁽²⁾  The Company's discussion of adjusted earnings includes use of the term "segment income". This non-GAAP term is defined below and reconciled in our Non-US GAAP Financial Measures and Supplemental Information document below.

Full Year Business Segment Overview

Engineered Materials

Engineered Materials' net sales grew 17 percent over 2017 to $2.6 billion. GAAP operating profit of $460 million and segment income of $694 million were driven by both price and volume expansion over 2017. Project commercializations totaling 3,274 for the year, contributions from the Nilit and Omni acquisitions, and improved affiliate performance delivered the fourth straight year of GAAP operating profit expansion and fifth straight year of segment income expansion for the segment.

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Engineered Materials delivered GAAP operating profit margin of 17.7 percent and segment income margin of 26.8 percent for the year. Volume growth of 9 percent over 2017 was driven by incremental project commercializations and contributions from acquisitions, and more than offset broad destocking across the value chain at the end of 2018. The segment expanded pricing 6 percent over 2017 levels on improved mix and commercial initiatives throughout the year. Affiliate earnings expanded 27 percent over 2017 to $218 million, primarily due to Celanese's higher economic interest in the Ibn Sina joint venture and higher MTBE pricing.

Acetyl Chain

The Acetyl Chain generated net sales of $4.0 billion in 2018, an increase of 20 percent over the prior year. Pricing expanded 19 percent over 2017 levels as the business flexed its global network amid sustained improvements in industry fundamentals and utilization rates. GAAP operating profit of $1.0 billion and segment income of $1.0 billion, both records, represent another step up in the earnings power of the segment. The Acetyl Chain delivered highest-ever GAAP operating profit margin of 25.3 percent, a 1,020 basis point improvement over 2017, and record segment income margin of 25.3 percent, an 820 basis point expansion over the same period. Since implementing a model to leverage its global network, the business has demonstrated multiple years of continued margin expansion by identifying highest value commercial opportunities while driving productivity. Numerous activations to optimize the broad network delivered margin expansion in 2018 that more than offset increases in raw material, freight, and energy costs.

Acetate Tow

Acetate Tow GAAP operating profit was $130 million and segment income was $273 million for the year. Volume was flat year over year. Pricing in 2018 fell 3 percent off 2017 due to lower industry capacity utilization and was partially offset by mix. Raw material costs increased in 2018 over the prior year, primarily driven by higher acetyls pricing and freight costs. Dividends from affiliates were $116 million, 8 percent higher than last year.

Recent Highlights

• Announced global reconfiguration of the acetic acid production footprint by expanding Clear Lake, Texas acetic acid capacity to approximately 2.0 million tons by late 2021 with limited net change in the Company's total system tonnage via equivalent productivity options in Singapore and Nanjing, China.

• Signed an agreement to acquire India-based Next Polymers Ltd., one of the country's largest domestic engineering thermoplastic (ETP) compounders. Completed on January 2, 2019, the acquisition adds 20 kt of local compounding capacity.

• Announced the signing of an agreement to acquire a 365 kt synthesis gas production unit from Linde, located at the Company's Clear Lake, Texas Acetyl Chain production facility.

• Commercialized 866 Engineered Materials projects in the fourth quarter of 2018. Total new project completions in 2018 were 3,274, a 47 percent increase year over year.

• Selected to join the S&P 500 index effective prior to the open of trading on December 24, 2018.

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• Completed a registered offering of €500 million of 2.125% Senior Notes due 2027, using proceeds primarily to refinance an existing term loan maturing in 2021. Also extended maturity of revolving credit facility to 5 years and increased to $1.25 billion. This extends Celanese debt maturities while also reducing interest costs.

FourthQuarter Business Segment Overview

Engineered Materials

Engineered Materials delivered record fourth quarter net sales of $622 million, 7 percent higher than the same quarter of 2017. The segment delivered fourth quarter GAAP operating profit of $95 million and fourth quarter segment income of $150 million as the business grew pricing and volume over the prior year. In the fourth quarter, a focused effort to extend the opportunity pipeline model grew Engineered Materials volumes over the fourth quarter of 2017, more than offsetting a reset of inventory levels across the industry value chain which began late in the quarter. The opportunity pipeline commercialized 866 projects in the quarter, 48 percent higher than the same quarter of 2017, as the business increasingly met customer innovation needs with customized technology solutions. GAAP operating profit margin was 15.3 percent and segment income margin was 24.1 percent, respectively, down 160 and 40 basis points from last year, driven by new acquisitions contributing to margin dilution and strong growth in Asia.Margins are expected to recover from fourth quarter levels as the segment returns to more normalized regional sales mix and lower raw material costs in the quarter flow through inventory.

Acetyl Chain

The Acetyl Chain's net sales for the quarter were $936 million, 5 percent higher than the fourth quarter of 2017, driven by price increases. GAAP operating profit of $211 million and segment income of $215 million, fourth quarter records, both increased by 21 percent over the same quarter last year. The global supply network and integrated product chain positioned the Acetyl Chain to expand pricing in excess of raw material increases year over year. Volume in the quarter declined 2 percent over the fourth quarter of 2017 as the segment offset most of the impact of an extended VAM turnaround at Clear Lake and customer destocking in the quarter, particularly in Asia. The Acetyl Chain delivered GAAP operating margin of 22.5 percent and segment income margin of 23.0 percent, both fourth quarter records, sustaining margin levels in a quarter with winter seasonality.

Acetate Tow

Acetate Tow recorded fourth quarter GAAP operating profit of $19 million and segment income of $53 million. Income in the quarter declined year over year due primarily to the impact of an inventory build in the fourth quarter of 2017 and higher acetyls raw material costs. Pricing declined 2 percent from the fourth quarter of 2017. Segment performance is expected to rebound sequentially in the first quarter of 2019, more consistent with the third quarter of 2018.

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Cash Flow and Tax

Celanese generated operating cash flow of $1.6 billion and free cash flow of $1.2 billion for the year. Capital expenditures for the year was $337 million, approximately $70 million higher than 2017 due to a number of productivity investments and incremental expansion projects across businesses. For the year, $1.1 billion of cash was returned to shareholders, including $817 million in share repurchases and $280 million in cash dividends. The Company completed $567 million in share repurchases in the fourth quarter with $713 million remaining under the current share repurchase authorization as of December 31, 2018. The effective US GAAP tax rate was 19 percent for 2018 compared to 20 percent for 2017. The tax rate for adjusted earnings per share was 14 percent for 2018, 2 percent lower year over year, primarily due to the impact of US tax reform.

Outlook

"Underlying fundamentals and forward looking demand forecasts for our products and solutions-based businesses remain strong. The strength of our business models, additional contribution from organic investment projects underway, and planned acquisition contributions give us confidence in reaffirming our plan to earn $12 per share in 2020. Having said that, we believe the economic weakness surfacing last quarter primarily in Europe and Asia will continue through the first quarter and into the second before global business starts to recover. Assuming this slower start and expecting some fourth quarter 2019 moderation, which we commonly see, we would anticipate 2019 adjusted earnings of approximately $10.50 per share. We will be in a better position to refine this outlook during our first quarter earnings call in April, based on updated views of customer activity and economic trends," said Mark Rohr, chairman and chief executive officer.

Regarding a forward view on a US GAAP basis, we are unable to reconcile forecasted adjusted earnings per share growth to US GAAP diluted earnings per share without unreasonable efforts because a forecast of Certain Items, such as mark-to-market pension gains/losses, is not practical. The Company's earnings presentation and prepared remarks related to the fourth quarter and full year results will be posted on its website at investors.celanese.com under News & Events/Presentations after market close on January 28, 2019. Information about Non-US GAAP measures is included in a Non-US GAAP Financial Measures and Supplemental Information document posted on our website and available at the link below. See "Non-GAAP Financial Measures" below.

Contacts:
Investor Relations	Media - U.S.	Media - Europe
Chuck Kyrish	Travis Jacobsen	Jens Kurth
Phone: +1 972 443 4574	Phone: +1 972 443 3750	Phone: +49(0)69 45009 1574
Chuck.Kyrish@celanese.com	William.Jacobsen@celanese.com	J.Kurth@celanese.com

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700employees worldwide and had 2018 net sales of $7.2 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.

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Forward-Looking Statements

This release may contain "forward-looking statements," which include information concerning the company's plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct.There are a number of risks and uncertainties that could cause actual results to differ materially from the results expressed or implied in the forward-looking statements contained in this release. These risks and uncertainties include, among other things: changes in general economic, business, political and regulatory conditions in the countries or regions in which we operate; the length and depth of product and industry business cycles, particularly in the automotive, electrical, textiles, electronics and construction industries; changes in the price and availability of raw materials, particularly changes in the demand for, supply of, and market prices of ethylene, methanol, natural gas, wood pulp and fuel oil and the prices for electricity and other energy sources; the ability to pass increases in raw material prices on to customers or otherwise improve margins through price increases; the ability to maintain plant utilization rates and to implement planned capacity additions and expansions; the ability to reduce or maintain their current levels of production costs and to improve productivity by implementing technological improvements to existing plants; increased price competition and theintroduction of competing products by other companies; market acceptance of our technology; the ability to obtain governmental approvals and to construct facilities on terms and schedules acceptable to the company; changes in the degree of intellectual property and other legal protection afforded to our products or technologies, or the theft of such intellectual property; compliance and other costs and potential disruption or interruption of production or operations due to accidents, interruptions in sources of raw materials, cyber security incidents, terrorism or political unrest or other unforeseen events or delays in construction or operation of facilities, including as a result of geopolitical conditions, the occurrence of acts of war or terrorist incidents or as a result of weather or natural disasters; potential liability for remedial actions and increased costs under existing or future environmental regulations, including those relating to climate change; potential liability resulting from pending or future litigation, or from changes in the laws, regulations or policies of governments or other governmental activities in the countries in which we operate; changes in currency exchange rates and interest rates; our level of indebtedness, which could diminish our ability to raise additional capital to fund operations or limit our ability to react to changes in the economy or the chemicals industry; and various other factors discussed from time to time in the company's filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

Non-GAAP Financial Measures

Presentation

This document presents the Company's three business segments, Engineered Materials, Acetate Tow and Acetyl Chain.

Use of Non-US GAAP Financial Information

This release uses the following Non-US GAAP measures: adjusted EBIT, adjusted EBIT margin, operating EBITDA, adjusted earnings per share and free cash flow. These measures are not recognized in accordance with US GAAP and should not be viewed as an alternative to US GAAP measures of performance or liquidity. The most directly comparable financial measure presented in accordance with US GAAP in our consolidated financial statements for adjusted EBIT and operating EBITDA is net earnings (loss) attributable to Celanese Corporation; for adjusted EBIT margin is operating margin; for adjusted earnings per share is earnings (loss) from continuing operations attributable to Celanese Corporation per common share-diluted; and for free cash flow is net cash provided by (used in) operations.

Definitions of Non-US GAAP Financial Measures

• Adjusted EBIT is a performance measure used by the Company and is defined by the Company as net earnings (loss) attributable to Celanese Corporation, plus (earnings) loss from discontinued operations, less interest income, plus interest expense, plus refinancing expense and taxes, and further adjusted for Certain Items (refer to Table 8 of our Non-US GAAP Financial Measures and Supplemental Information document). We do not provide reconciliations for adjusted EBIT on a forward-looking basis (including those contained in this document) when we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of Certain Items, such as mark-to-market pension gains and losses, that have not yet occurred, are out of our control and/or cannot be reasonably predicted. For the same reasons, we are unable to address the probable significance of the unavailable information. Adjusted EBIT margin is defined by the Company as adjusted EBIT divided by net sales.

• Adjusted EBIT by business segment may also be referred to by management as segment income. Adjusted EBIT margin by business segment may also be referred to by management as segment income margin.

• Operating EBITDA is a performance measure used by the Company and is defined by the Company as net earnings (loss) attributable to Celanese Corporation, plus (earnings) loss from discontinued operations, less interest income, plus interest expense, plus refinancing expense, taxes and depreciation and amortization, and further adjusted for Certain Items, which Certain Items include accelerated depreciation and amortization expense. Operating EBITDA is equal to adjusted EBIT plus depreciation and amortization.

• Adjusted earnings per share is a performance measure used by the Company and is defined by the Company as earnings (loss) from continuing operations attributable to Celanese Corporation, adjusted for income tax (provision) benefit, Certain Items, and refinancing and related expenses, divided by the number of basic common shares and dilutive restricted stock units and stock options calculated using the treasury method. We do not provide reconciliations for adjusted earnings per share on a forward-looking basis (including those contained in this document) when we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of Certain Items, such as mark-to-market pension gains and losses, that have not yet occurred, are out of our control and/or cannot be reasonably predicted. For the same reasons, we are unable to address the probable significance of the unavailable information.

Note: The income tax expense (benefit) on Certain Items ("Non-GAAP adjustments") is determined using the applicable rates in the taxing jurisdictions in which the Non-GAAP adjustments occurred and includes both current and deferred income tax expense (benefit). The income tax rate used for adjusted earnings per share approximates the midpoint in a range of forecasted tax rates for the year. This range may include certain partial or full-year forecasted tax opportunities and related costs, where applicable, and specifically excludes changes in uncertain tax positions, discrete recognition of GAAP items on a quarterly basis, other pre-tax items adjusted out of our GAAP earnings for adjusted earnings per share

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purposes, and changes in management's assessments regarding the ability to realize deferred tax assets for GAAP. In determining the adjusted earnings per share tax rate, we reflect the impact of foreign tax credits when utilized, or expected to be utilized, absent discrete events impacting the timing of foreign tax credit utilization. We analyze this rate quarterly and adjust it if there is a material change in the range of forecasted tax rates; an updated forecast would not necessarily result in a change to our tax rate used for adjusted earnings per share. The adjusted tax rate is an estimate and may differ from the actual tax rate used for GAAP reporting in any given reporting period. Table 3a of our Non-US GAAP Financial Measures and Supplemental Information document summarizes the reconciliation of our estimated GAAP effective tax rate to the adjusted tax rate. The estimated GAAP rate excludes discrete recognition of GAAP items due to our inability to forecast such items. As part of the year-end reconciliation, we will update the reconciliation of the GAAP effective tax rate to the adjusted tax rate for actual results.

• Free cash flow is a liquidity measure used by the Company and is defined by the Company as cash flow from operations, less capital expenditures on property, plant and equipment, and adjusted for capital contributions from or distributions to Mitsui & Co., Ltd. ("Mitsui") related to our methanol joint venture, Fairway Methanol LLC ("Fairway").

Reconciliation of Non-US GAAP Financial Measures

Reconciliations of the Non-US GAAP financial measures used in this press release to the comparable US GAAP financial measure, together with information about the purposes and uses of non-US GAAP financial measures, are included in our Non-US GAAP Financial Measures and Supplemental Information document filed as an exhibit to our Current Report on Form 8-K filed with the SEC on or about January 28, 2019 and also available on our website at investors.celanese.com under Financial Information/Non-GAAP Financial Measures, or at this link: http://investors.celanese.com/interactive/lookandfeel/4103411/Non-GAAP.PDF.

Results Unaudited

The results in this document, together with the adjustments made to present the results on a comparable basis, have not been audited and are based on internal financial data furnished to management. Quarterly results should not be taken as an indication of the results of operations to be reported for any subsequent period or for the full fiscal year.

Supplemental Information

Additional information about our prior period performance is included in our Quarterly Reports on Form 10-Q and in our Non-US GAAP Financial Measures and Supplemental Information document.

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Consolidated Statements of Operations - Unaudited

	Three Months Ended December 31,
	2018		2017
			(As Adjusted)
	(In $ millions, except share and per share data)
Net sales	1,689		1,593
Cost of sales	(1,269	)	(1,180	)
Gross profit	420		413
Selling, general and administrative expenses	(134	)	(143	)
Amortization of intangible assets	(6	)	(6	)
Research and development expenses	(18	)	(20	)
Other (charges) gains, net	—		(2	)
Foreign exchange gain (loss), net	(2	)	(1	)
Gain (loss) on disposition of businesses and assets, net	(1	)	(1	)
Operating profit (loss)	259		240
Equity in net earnings (loss) of affiliates	53		48
Non-operating pension and other postretirement employee benefit (expense)	(139	)	(23	)
Interest expense	(30	)	(31	)
Refinancing expense	(1	)	—
Interest income	2		—
Dividend income - equity investments	25		26
Other income (expense), net	5		5
Earnings (loss) from continuing operations before tax	174		265
Income tax (provision) benefit	(76	)	(60	)
Earnings (loss) from continuing operations	98		205
Earnings (loss) from operation of discontinued operations	4		(2	)
Gain (loss) on disposition of discontinued operations	—		—
Income tax (provision) benefit from discontinued operations	(1	)	1
Earnings (loss) from discontinued operations	3		(1	)
Net earnings (loss)	101		204
Net (earnings) loss attributable to noncontrolling interests	(2	)	(1	)
Net earnings (loss) attributable to Celanese Corporation	99		203
Amounts attributable to Celanese Corporation
Earnings (loss) from continuing operations	96		204
Earnings (loss) from discontinued operations	3		(1	)
Net earnings (loss)	99		203
Earnings (loss) per common share - basic
Continuing operations	0.73		1.50
Discontinued operations	0.02		(0.01	)
Net earnings (loss) - basic	0.75		1.49
Earnings (loss) per common share - diluted
Continuing operations	0.73		1.50
Discontinued operations	0.02		(0.01	)
Net earnings (loss) - diluted	0.75		1.49
Weighted average shares (in millions)
Basic	131.2		135.8
Diluted	132.1		136.3

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Consolidated Statements of Operations - Unaudited

	Year Ended December 31,
	2018		2017
			(As Adjusted)
	(In $ millions, except share and per share data)
Net sales	7,155		6,140
Cost of sales	(5,183	)	(4,629	)
Gross profit	1,972		1,511
Selling, general and administrative expenses	(546	)	(496	)
Amortization of intangible assets	(24	)	(20	)
Research and development expenses	(72	)	(73	)
Other (charges) gains, net	9		(59	)
Foreign exchange gain (loss), net	—		(1	)
Gain (loss) on disposition of businesses and assets, net	(5	)	(5	)
Operating profit (loss)	1,334		857
Equity in net earnings (loss) of affiliates	233		183
Non-operating pension and other postretirement employee benefit (expense)	(62	)	44
Interest expense	(125	)	(122	)
Refinancing expense	(1	)	—
Interest income	6		2
Dividend income - equity investments	117		108
Other income (expense), net	8		3
Earnings (loss) from continuing operations before tax	1,510		1,075
Income tax (provision) benefit	(292	)	(213	)
Earnings (loss) from continuing operations	1,218		862
Earnings (loss) from operation of discontinued operations	(5	)	(16	)
Gain (loss) on disposition of discontinued operations	—		—
Income tax (provision) benefit from discontinued operations	—		3
Earnings (loss) from discontinued operations	(5	)	(13	)
Net earnings (loss)	1,213		849
Net (earnings) loss attributable to noncontrolling interests	(6	)	(6	)
Net earnings (loss) attributable to Celanese Corporation	1,207		843
Amounts attributable to Celanese Corporation
Earnings (loss) from continuing operations	1,212		856
Earnings (loss) from discontinued operations	(5	)	(13	)
Net earnings (loss)	1,207		843
Earnings (loss) per common share - basic
Continuing operations	9.03		6.21
Discontinued operations	(0.04	)	(0.10	)
Net earnings (loss) - basic	8.99		6.11
Earnings (loss) per common share - diluted
Continuing operations	8.95		6.19
Discontinued operations	(0.04	)	(0.10	)
Net earnings (loss) - diluted	8.91		6.09
Weighted average shares (in millions)
Basic	134.3		137.9
Diluted	135.4		138.3

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Consolidated Balance Sheets - Unaudited

	As of December 31,
	2018		2017
	(In $ millions)
ASSETS
Current Assets
Cash and cash equivalents	439		576
Trade receivables - third party and affiliates, net	1,017		986
Non-trade receivables, net	301		244
Inventories	1,046		900
Marketable securities, at fair value	31		32
Other assets	40		54
Total current assets	2,874		2,792
Investments in affiliates	979		976
Property, plant and equipment, net	3,719		3,762
Deferred income taxes	84		366
Other assets	290		338
Goodwill	1,057		1,003
Intangible assets, net	310		301
Total assets	9,313		9,538
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings and current installments of long-term debt - third party and affiliates	561		326
Trade payables - third party and affiliates	819		807
Other liabilities	343		354
Income taxes payable	56		72
Total current liabilities	1,779		1,559
Long-term debt	2,970		3,315
Deferred income taxes	255		211
Uncertain tax positions	158		156
Benefit obligations	564		585
Other liabilities	208		413
Commitments and Contingencies
Stockholders' Equity
Preferred stock	—		—
Common stock	—		—
Treasury stock, at cost	(2,849	)	(2,031	)
Additional paid-in capital	233		175
Retained earnings	5,847		4,920
Accumulated other comprehensive income (loss), net	(247	)	(177	)
Total Celanese Corporation stockholders' equity	2,984		2,887
Noncontrolling interests	395		412
Total equity	3,379		3,299
Total liabilities and equity	9,313		9,538

10

EX-99.2

Exhibit 99.2

Non-US GAAP Financial Measures and Supplemental Information

January 28, 2019

In this document, the terms the "Company," "we" and "our" refer to Celanese Corporation and its subsidiaries on a consolidated basis.

Purpose

The purpose of this document is to provide information of interest to investors, analysts and other parties including supplemental financial information and reconciliations and other information concerning our use of non-US GAAP financial measures. This document is updated quarterly.

Presentation

This document presents the Company's three business segments, Engineered Materials, Acetate Tow and Acetyl Chain.

Use of Non-US GAAP Financial Measures

From time to time, management may publicly disclose certain numerical "non-GAAP financial measures" in the course of our earnings releases, financial presentations, earnings conference calls, investor and analyst meetings and otherwise. For these purposes, the Securities and Exchange Commission ("SEC") defines a "non-GAAP financial measure" as a numerical measure of historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that effectively exclude amounts, included in the most directly comparable measure calculated and presented in accordance with US GAAP, and vice versa for measures that include amounts, or are subject to adjustments that effectively include amounts, that are excluded from the most directly comparable US GAAP measure so calculated and presented. For these purposes, "GAAP" refers to generally accepted accounting principles in the United States.

Non-GAAP financial measures disclosed by management are provided as additional information to investors, analysts and other parties because the Company believes them to be important supplemental measures for assessing our financial and operating results and as a means to evaluate our financial condition and period-to-period comparisons. These non-GAAP financial measures should be viewed as supplemental to, and should not be considered in isolation or as alternatives to, net earnings (loss), operating profit (loss), operating margin, cash flow from operating activities (together with cash flow from investing and financing activities), earnings per share or any other US GAAP financial measure. These non-GAAP financial measures should be considered within the context of our complete audited and unaudited financial results for the given period, which are available on the Financial Information/Documents page of our website, investors.celanese.com. The definition and method of calculation of the non-GAAP financial measures used herein may be different from other companies' methods for calculating measures with the same or similar titles. Investors, analysts and other parties should understand how another company calculates such non-GAAP financial measures before comparing the other company's non-GAAP financial measures to any of our own. These non-GAAP financial measures may not be indicative of the historical operating results of the Company nor are they intended to be predictive or projections of future results.

Pursuant to the requirements of SEC Regulation G, whenever we refer to a non-GAAP financial measure, we will also present in this document, in the presentation itself or on a Form 8-K in connection with the presentation on the Financial Information/Non-GAAP Financial Measures page of our website, investors.celanese.com, to the extent practicable, the most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure we reference and such comparable GAAP financial measure.

This document includes definitions and reconciliations of non-GAAP financial measures used from time to time by the Company.

Specific Measures Used

This document provides information about the following non-GAAP measures: adjusted EBIT, adjusted EBIT margin, operating EBITDA, operating EBITDA margin, operating profit (loss) attributable to Celanese Corporation, adjusted earnings per share, net debt, free cash flow and return on invested capital (adjusted). The most directly comparable financial measure presented in accordance with US GAAP in our consolidated financial statements for adjusted EBIT and operating EBITDA is net earnings (loss) attributable to Celanese Corporation; for adjusted EBIT margin and operating EBITDA margin is operating margin; for operating profit (loss) attributable to Celanese Corporation is operating profit (loss); for adjusted earnings per share is earnings (loss) from continuing operations attributable to Celanese Corporation per common share-diluted; for net debt is total debt; for free cash flow is net cash provided by (used in) operations; and for return on invested capital (adjusted) is net earnings (loss) attributable to Celanese Corporation divided by the sum of the average of beginning and end of the year short- and long-term debt and Celanese Corporation stockholders' equity.

1

Definitions

• Adjusted EBIT is a performance measure used by the Company and is defined by the Company as net earnings (loss) attributable to Celanese Corporation, plus (earnings) loss from discontinued operations, less interest income, plus interest expense, plus refinancing expense and taxes, and further adjusted for Certain Items (refer to Table 8). We believe that adjusted EBIT provides transparent and useful information to management, investors, analysts and other parties in evaluating and assessing our primary operating results from period-to-period after removing the impact of unusual, non-operational or restructuring-related activities that affect comparability. Our management recognizes that adjusted EBIT has inherent limitations because of the excluded items. Adjusted EBIT is one of the measures management uses for planning and budgeting, monitoring and evaluating financial and operating results and as a performance metric in the Company's incentive compensation plan. We do not provide reconciliations for adjusted EBIT on a forward-looking basis (including those contained in this document) when we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of Certain Items, such as mark-to-market pension gains and losses, that have not yet occurred, are out of our control and/or cannot be reasonably predicted. For the same reasons, we are unable to address the probable significance of the unavailable information. Adjusted EBIT margin is defined by the Company as adjusted EBIT divided by net sales. Adjusted EBIT margin has the same uses and limitations as Adjusted EBIT.

• Adjusted EBIT by business segment may also be referred to by management as segment income. Adjusted EBIT margin by business segment may also be referred to by management as segment income margin.

• Operating EBITDA is a performance measure used by the Company and is defined by the Company as net earnings (loss) attributable to Celanese Corporation, plus (earnings) loss from discontinued operations, less interest income, plus interest expense, plus refinancing expense, taxes and depreciation and amortization, and further adjusted for Certain Items, which Certain Items include accelerated depreciation and amortization expense. Operating EBITDA is equal to adjusted EBIT plus depreciation and amortization. We believe that Operating EBITDA provides transparent and useful information to investors, analysts and other parties in evaluating our operating performance relative to our peer companies. Operating EBITDA margin is defined by the Company as Operating EBITDA divided by net sales. Operating EBITDA margin has the same uses and limitations as Operating EBITDA.

• Operating profit (loss) attributable to Celanese Corporation is defined by the Company as operating profit (loss), less earnings (loss) attributable to noncontrolling interests ("NCI"). We believe that operating profit (loss) attributable to Celanese Corporation provides transparent and useful information to management, investors, analysts and other parties in evaluating our core operational performance. Operating margin attributable to Celanese Corporation is defined by the Company as operating profit (loss) attributable to Celanese Corporation divided by net sales. Operating margin attributable to Celanese Corporation has the same uses and limitations as Operating profit (loss) attributable to Celanese Corporation.

• Adjusted earnings per share is a performance measure used by the Company and is defined by the Company as earnings (loss) from continuing operations attributable to Celanese Corporation, adjusted for income tax (provision) benefit, Certain Items, and refinancing and related expenses, divided by the number of basic common shares and dilutive restricted stock units and stock options calculated using the treasury method. We believe that adjusted earnings per share provides transparent and useful information to management, investors, analysts and other parties in evaluating and assessing our primary operating results from period-to-period after removing the impact of the above stated items that affect comparability and as a performance metric in the Company's incentive compensation plan. We do not provide reconciliations for adjusted earnings per share on a forward-looking basis (including those contained in this document) when we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of Certain Items, such as mark-to-market pension gains and losses, that have not yet occurred, are out of our control and/or cannot be reasonably predicted. For the same reasons, we are unable to address the probable significance of the unavailable information.

Note: The income tax expense (benefit) on Certain Items ("Non-GAAP adjustments") is determined using the applicable rates in the taxing jurisdictions in which the Non-GAAP adjustments occurred and includes both current and deferred income tax expense (benefit). The income tax rate used for adjusted earnings per share approximates the midpoint in a range of forecasted tax rates for the year. This range may include certain partial or full-year forecasted tax opportunities and related costs, where applicable, and specifically excludes changes in uncertain tax positions, discrete recognition of GAAP items on a quarterly basis, other pre-tax items adjusted out of our GAAP earnings for adjusted earnings per share purposes and changes in management's assessments regarding the ability to realize deferred tax assets for GAAP. In determining the adjusted earnings per share tax rate, we reflect the impact of foreign tax credits when utilized, or expected to be utilized, absent discrete events impacting the timing of foreign tax credit utilization. We analyze this rate quarterly and adjust it if there is a material change in the range of forecasted tax rates; an updated forecast would not necessarily result in a change to our tax rate used for adjusted earnings per share. The adjusted tax rate is an estimate and may differ from the actual tax rate used for GAAP reporting in any given reporting period. Table 3a summarizes the reconciliation of our estimated GAAP effective tax rate to the adjusted tax rate. The estimated GAAP rate excludes discrete recognition of GAAP items due to our inability to forecast such items. As part of the year-end reconciliation, we will update the reconciliation of the GAAP effective tax rate to the adjusted tax rate for actual results.

2

• Free cash flow is a liquidity measure used by the Company and is defined by the Company as net cash provided by (used in) operations, less capital expenditures on property, plant and equipment, and adjusted for capital contributions from or distributions to Mitsui & Co., Ltd. ("Mitsui") related to our methanol joint venture, Fairway Methanol LLC ("Fairway"). We believe that free cash flow provides useful information to management, investors, analysts and other parties in evaluating the Company's liquidity and credit quality assessment because it provides an indication of the long-term cash generating ability of our business. Although we use free cash flow as a measure to assess the liquidity generated by our business, the use of free cash flow has important limitations, including that free cash flow does not reflect the cash requirements necessary to service our indebtedness, lease obligations, unconditional purchase obligations or pension and postretirement funding obligations.

• Net debt is defined by the Company as total debt less cash and cash equivalents. We believe that net debt provides useful information to management, investors, analysts and other parties in evaluating changes to the Company's capital structure and credit quality assessment.

• Return on invested capital (adjusted) is defined by the Company as adjusted EBIT, tax effected using the adjusted tax rate, divided by the sum of the average of beginning and end of the year short- and long-term debt and Celanese Corporation stockholders' equity. We believe that return on invested capital (adjusted) provides useful information to management, investors, analysts and other parties in order to assess our income generation from the point of view of our stockholders and creditors who provide us with capital in the form of equity and debt and whether capital invested in the Company yields competitive returns. In addition, achievement of certain predetermined targets relating to return on invested capital (adjusted) is one of the factors we consider in determining the amount of performance-based compensation received by our management.

Supplemental Information

Supplemental Information we believe to be of interest to investors, analysts and other parties includes the following:

• Net sales for each of our business segments and the percentage increase or decrease in net sales attributable to price, volume, currency and other factors for each of our business segments.

• Cash dividends received from our equity investments.

• For those consolidated ventures in which the Company owns or is exposed to less than 100% of the economics, the outside stockholders' interests are shown as NCI. Beginning in 2014, this includes Fairway for which the Company's ownership percentage is 50%. Amounts referred to as "attributable to Celanese Corporation" are net of any applicable NCI.

Recent Developments

Effective January 1, 2018, we reorganized our operating and reportable segments to align with recent structural and management reporting changes. The changes reflect the movement of our food ingredients business from the Consumer Specialties reportable segment into the Engineered Materials reportable segment. In addition, the former Consumer Specialties reportable segment was renamed the Acetate Tow segment, and the former Advanced Engineered Materials reportable segment was renamed the Engineered Materials segment. This reorganization better reflects how we manage our food ingredients' related products commercially. Engineered Materials and food ingredients are both project-based models that focus on delivering customized solutions and are led by the same senior management team.

Effective December 31, 2018, we further reorganized our operating and reportable segments to align with recent structural and management reporting changes. The change reflects the resegmentation of the former Industrial Specialties and former Acetyl Intermediates operating and reportable segments, to the Acetyl Chain operating and reportable segment. This reorganization reflects the culmination of a shift in operating strategy and organizational hierarchy, with a focus on integration, collaboration and maximization of value creation through our global optionality and integrated chain model of the underlying businesses along the Acetyl Chain segment. These changes in operating and reportable segments were applied retrospectively to prior periods through 2014.

Results Unaudited

The results in this document, together with the adjustments made to present the results on a comparable basis, have not been audited and are based on internal financial data furnished to management. Quarterly results should not be taken as an indication of the results of operations to be reported for any subsequent period or for the full fiscal year.

3

Table 1

Adjusted EBIT and Operating EBITDA - Reconciliation of Non-GAAP Measures - Unaudited

	2018		Q4 '18		Q3 '18		Q2 '18	Q1 '18		2017		Q4 '17	Q3 '17		Q2 '17		Q1 '17
	(In $ millions)
Net earnings (loss) attributable to Celanese Corporation	1,207		99		401		344	363		843		203	226		231		183
(Earnings) loss from discontinued operations	5		(3	)	6		—	2		13		1	4		8		—
Interest income	(6	)	(2	)	(2	)	—	(2	)	(2	)	—	(1	)	(1	)	—
Interest expense	125		30		30		32	33		122		31	32		30		29
Refinancing expense	1		1		—		—	—		—		—	—		—		—
Income tax provision (benefit)	292		76		54		97	65		213		60	57		40		56
Certain Items attributable to Celanese Corporation (Table 8)	228		192		5		18	13		167		57	27		18		65
Adjusted EBIT	1,852		393		494		491	474		1,356		352	345		326		333
Depreciation and amortization expense(1)	316		78		77		82	79		303		79	78		75		71
Operating EBITDA	2,168		471		571		573	553		1,659		431	423		401		404

	2018	Q4 '18	Q3 '18	Q2 '18	Q1 '18	2017	Q4 '17	Q3 '17	Q2 '17	Q1 '17
	(In $ millions)
Engineered Materials	1	—	—	1	—	—	—	—	—	—
Acetate Tow	19	5	11	3	—	—	—	—	—	—
Acetyl Chain	7	5	2	—	—	2	—	2	—	—
Other Activities(2)	—	—	—	—	—	—	—	—	—	—
Accelerated depreciation and amortization expense	27	10	13	4	—	2	—	2	—	—
Depreciation and amortization expense(1)	316	78	77	82	79	303	79	78	75	71
Total depreciation and amortization expense	343	88	90	86	79	305	79	80	75	71

______________________________

⁽¹⁾  Excludes accelerated depreciation and amortization expense as detailed in the table above, which amounts are included in Certain Items above.

⁽²⁾  Other Activities includes corporate Selling, general and administrative ("SG&A") expenses, the results of captive insurance companies and certain components of net periodic benefit cost (interest cost, expected return on plan assets and net actuarial gains and losses).

4

Table 2 - Supplemental Segment Data and Reconciliation of Segment Adjusted EBIT and Operating EBITDA - Non-GAAP Measures - Unaudited

	2018					Q4 '18				Q3 '18				Q2 '18				Q1 '18				2017				Q4 '17				Q3 '17				Q2 '17				Q1 '17
	(In $ millions, except percentages)
Operating Profit (Loss) / Operating Margin
Engineered Materials	460			17.7	%	95		15.3	%	124		19.3	%	114		17.2	%	127		19.1	%	412		18.6	%	98		16.9	%	105		18.3	%	105		19.2	%	104		20.2	%
Acetate Tow	130			20.0	%	19		11.8	%	26		16.5	%	39		24.1	%	46		27.4	%	189		28.3	%	41		26.1	%	45		28.7	%	41		25.2	%	62		32.5	%
Acetyl Chain(1)	1,024			25.3	%	211		22.5	%	287		28.5	%	273		26.0	%	253		24.1	%	509		15.1	%	175		19.7	%	147		17.0	%	135		16.3	%	52		6.5	%
Other Activities(2)	(280	)				(66	)			(63	)			(68	)			(83	)			(253	)			(74	)			(68	)			(63	)			(48	)
Total	1,334			18.6	%	259		15.3	%	374		21.1	%	358		19.4	%	343		18.5	%	857		14.0	%	240		15.1	%	229		14.6	%	218		14.4	%	170		11.6	%
Less: Net Earnings (Loss) Attributable to NCI(1)	6					2				1				1				2				6				1				2				2				1
Operating Profit (Loss) Attributable to Celanese Corporation	1,328			18.6	%	257		15.2	%	373		21.1	%	357		19.4	%	341		18.4	%	851		13.9	%	239		15.0	%	227		14.5	%	216		14.3	%	169		11.5	%
Operating Profit (Loss) / Operating Margin Attributable to Celanese Corporation
Engineered Materials	460			17.7	%	95		15.3	%	124		19.3	%	114		17.2	%	127		19.1	%	412		18.6	%	98		16.9	%	105		18.3	%	105		19.2	%	104		20.2	%
Acetate Tow	130			20.0	%	19		11.8	%	26		16.5	%	39		24.1	%	46		27.4	%	189		28.3	%	41		26.1	%	45		28.7	%	41		25.2	%	62		32.5	%
Acetyl Chain(1)	1,018			25.2	%	209		22.3	%	286		28.4	%	272		25.9	%	251		23.9	%	503		14.9	%	174		19.6	%	145		16.8	%	133		16.1	%	51		6.4	%
Other Activities(2)	(280	)				(66	)			(63	)			(68	)			(83	)			(253	)			(74	)			(68	)			(63	)			(48	)
Total	1,328			18.6	%	257		15.2	%	373		21.1	%	357		19.4	%	341		18.4	%	851		13.9	%	239		15.0	%	227		14.5	%	216		14.3	%	169		11.5	%
Equity Earnings and Dividend Income, Other Income (Expense) Attributable to Celanese Corporation
Engineered Materials	219		(3)			49				62				54				54				171				43				47				38				43
Acetate Tow	116					25				26				33				32				107				26				24				28				29
Acetyl Chain	8					1				2				3				2				6				2				1				2				1
Other Activities(2)	15					8				1				—				6				10				8				(4	)			2				4
Total	358					83				91				90				94				294				79				68				70				77
Non-Operating Pension and Other Post-Retirement Employee Benefit (Expense) Income Attributable to Celanese Corporation
Engineered Materials	—					—				—				—				—				—				—				—				—				—
Acetate Tow	—					—				—				—				—				—				—				—				—				—
Acetyl Chain	—					—				—				—				—				2				1				1				—				—
Other Activities(2)	(62	)				(139	)			25				26				26				42				(24	)			22				22				22
Total	(62	)				(139	)			25				26				26				44				(23	)			23				22				22
Certain Items Attributable to Celanese Corporation(Table 8)
Engineered Materials	15					6				1				7				1				16				1				5				7				3
Acetate Tow	27					9				13				5				—				5				1				—				2				2
Acetyl Chain	(4	)				5				(11	)			2				—				64				1				10				(3	)			56
Other Activities(2)	190					172				2				4				12				82				54				12				12				4
Total	228					192				5				18				13				167				57				27				18				65
Adjusted EBIT / Adjusted EBIT Margin
Engineered Materials	694			26.8	%	150		24.1	%	187		29.1	%	175		26.4	%	182		27.4	%	599		27.1	%	142		24.5	%	157		27.4	%	150		27.5	%	150		29.2	%
Acetate Tow	273			42.1	%	53		32.9	%	65		41.1	%	77		47.5	%	78		46.4	%	301		45.1	%	68		43.3	%	69		43.9	%	71		43.6	%	93		48.7	%
Acetyl Chain	1,022			25.3	%	215		23.0	%	277		27.5	%	277		26.4	%	253		24.1	%	575		17.1	%	178		20.0	%	157		18.2	%	132		16.0	%	108		13.6	%
Other Activities(2)	(137	)				(25	)			(35	)			(38	)			(39	)			(119	)			(36	)			(38	)			(27	)			(18	)
Total	1,852			25.9	%	393		23.3	%	494		27.9	%	491		26.6	%	474		25.6	%	1,356		22.1	%	352		22.1	%	345		22.0	%	326		21.6	%	333		22.6	%

___________________________

⁽¹⁾  Net earnings (loss) attributable to NCI is included within the Acetyl Chain segment.

⁽²⁾  Other Activities includes corporate SG&A expenses, the results of captive insurance companies and certain components of net periodic benefit cost (interest cost, expected return on plan assets and net actuarial gains and losses).

⁽³⁾  Includes $218 million of Equity in net earnings (loss) of affiliates and $1 million of Other income.

5

Table 2 - Supplemental Segment Data and Reconciliation of Segment Adjusted EBIT and Operating EBITDA - Non-GAAP Measures - Unaudited (cont.)

	2018				Q4 '18				Q3 '18				Q2 '18				Q1 '18				2017				Q4 '17				Q3 '17				Q2 '17				Q1 '17
	(In $ millions, except percentages)
Depreciation and Amortization Expense(1)
Engineered Materials	125				30				31				32				32				111				29				30				27				25
Acetate Tow	39				9				10				10				10				41				11				10				10				10
Acetyl Chain	141				36				34				36				35				141				37				34				36				34
Other Activities(2)	11				3				2				4				2				10				2				4				2				2
Total	316				78				77				82				79				303				79				78				75				71
Operating EBITDA / Operating EBITDA Margin
Engineered Materials	819		31.6	%	180		28.9	%	218		34.0	%	207		31.2	%	214		32.2	%	710		32.1	%	171		29.5	%	187		32.6	%	177		32.4	%	175		34.0	%
Acetate Tow	312		48.1	%	62		38.5	%	75		47.5	%	87		53.7	%	88		52.4	%	342		51.2	%	79		50.3	%	79		50.3	%	81		49.7	%	103		53.9	%
Acetyl Chain	1,163		28.8	%	251		26.8	%	311		30.9	%	313		29.8	%	288		27.4	%	716		21.2	%	215		24.2	%	191		22.1	%	168		20.3	%	142		17.9	%
Other Activities(2)	(126	)			(22	)			(33	)			(34	)			(37	)			(109	)			(34	)			(34	)			(25	)			(16	)
Total	2,168		30.3	%	471		27.9	%	571		32.2	%	573		31.1	%	553		29.9	%	1,659		27.0	%	431		27.1	%	423		27.0	%	401		26.6	%	404		27.5	%

___________________________

⁽¹⁾  Excludes accelerated depreciation and amortization expense, which amounts are included in Certain Items above. See Table 1 for details.

⁽²⁾  Other Activities includes corporate SG&A expenses, the results of captive insurance companies and certain components of net periodic benefit cost (interest cost, expected return on plan assets and net actuarial gains and losses).

6

Table 3

Adjusted Earnings (Loss) per Share - Reconciliation of a Non-GAAP Measure - Unaudited

	2018			Q4 '18			Q3 '18			Q2 '18			Q1 '18			2017			Q4 '17			Q3 '17			Q2 '17			Q1 '17
			per share			per share			per share			per share			per share			per share			per share			per share			per share			per share
	(In $ millions, except per share data)
Earnings (loss) from continuing operations attributable to Celanese Corporation	1,212		8.95	96		0.73	407		3.00	344		2.52	365		2.68	856		6.19	204		1.50	230		1.68	239		1.72	183		1.30
Income tax provision (benefit)	292			76			54			97			65			213			60			57			40			56
Earnings (loss) from continuing operations before tax	1,504			172			461			441			430			1,069			264			287			279			239
Certain Items attributable to Celanese Corporation(Table 8)	228			192			5			18			13			167			57			27			18			65
Refinancing and related expenses	1			1			—			—			—			—			—			—			—			—
Adjusted earnings (loss) from continuing operations before tax	1,733			365			466			459			443			1,236			321			314			297			304
Income tax (provision) benefit on adjusted earnings(1)	(243	)		(51	)		(65	)		(64	)		(62	)		(198	)		(51	)		(50	)		(48	)		(49	)
Adjusted earnings (loss) from continuing operations(2)	1,490		11.00	314		2.38	401		2.96	395		2.90	381		2.79	1,038		7.51	270		1.98	264		1.93	249		1.79	255		1.81
	Diluted shares (in millions)(3)
Weighted average shares outstanding	134.3			131.2			134.5			135.6			135.9			137.9			135.8			136.6			138.6			140.6
Incremental shares attributable to equity awards	1.1			0.9			1.0			0.7			0.5			0.4			0.5			0.4			0.4			0.4
Total diluted shares	135.4			132.1			135.5			136.3			136.4			138.3			136.3			137.0			139.0			141.0

______________________________

⁽¹⁾  Calculated using adjusted effective tax rates (Table 3a) as follows:

	2018	Q4 '18	Q3 '18	Q2 '18	Q1 '18	2017	Q4 '17	Q3 '17	Q2 '17	Q1 '17
	(In percentages)
Adjusted effective tax rate	14	14	14	14	14	16	16	16	16	16

⁽²⁾  Excludes the immediate recognition of actuarial gains and losses and the impact of actual vs. expected plan asset returns.

	Actual Plan Asset Returns		Expected Plan Asset Returns
	(In percentages)
Q4 '18 & 2018	(3.9	)	6.7
Q4 '17 & 2017	10.5		7.3

⁽³⁾  Potentially dilutive shares are included in the adjusted earnings per share calculation when adjusted earnings are positive.

7

Table 3a

Adjusted Tax Rate - Reconciliation of a Non-GAAP Measure - Unaudited

	Actual
	2018		2017
	(In percentages)
US GAAP annual effective tax rate	19		20
Discrete quarterly recognition of GAAP items(1)	—		(11	)
Tax impact of other charges and adjustments(2)	—		1
Utilization of foreign tax credits	—		20
Changes in valuation allowances, excluding impact of other charges and adjustments(3)	(5	)	(13	)
Other(4)	—		(1	)
Adjusted tax rate	14		16

______________________________

Note: As part of the year-end reconciliation, we updated the reconciliation of the GAAP effective tax rate for actual results.

⁽¹⁾  Such as changes in tax laws (including US tax reform), deferred taxes on outside basis differences, changes in uncertain tax positions and prior year audit adjustments.

⁽²⁾  Reflects the tax impact on pre-tax adjustments presented in Certain Items (Table 8), which are excluded from pre-tax income for adjusted earnings per share purposes.

⁽³⁾  Reflects changes in valuation allowances related to changes in judgment regarding the realizability of deferred tax assets or current year operations, excluding other charges and adjustments.

⁽⁴⁾  Tax impacts related to full-year forecasted tax opportunities and related costs.

8

Table 4

Net Sales by Segment - Unaudited

	2018		Q4 '18		Q3 '18		Q2 '18		Q1 '18		2017		Q4 '17		Q3 '17		Q2 '17		Q1 '17
	(In $ millions)
Engineered Materials	2,593		622		642		664		665		2,213		580		573		546		514
Acetate Tow	649		161		158		162		168		668		157		157		163		191
Acetyl Chain	4,042		936		1,006		1,049		1,051		3,371		888		863		826		794
Other Activities(1)	—		—		—		—		—		—		—		—		—		—
Intersegment eliminations(2)	(129	)	(30	)	(35	)	(31	)	(33	)	(112	)	(32	)	(27	)	(25	)	(28	)
Net sales	7,155		1,689		1,771		1,844		1,851		6,140		1,593		1,566		1,510		1,471

___________________________

⁽¹⁾  Other Activities includes corporate SG&A expenses, the results of captive insurance companies and certain components of net periodic benefit cost (interest cost, expected return on plan assets and net actuarial gains and losses).

⁽²⁾  Includes intersegment sales primarily related to the Acetyl Chain.

9

Table 4a

Factors Affecting Segment Net Sales Sequentially - Unaudited

Three Months Ended December 31, 2018 Compared to Three Months Ended September 30, 2018

	Volume		Price		Currency		Other	Total
	(In percentages)
Engineered Materials	(4	)	2		(1	)	—	(3	)
Acetate Tow	2		(1	)	—		—	1
Acetyl Chain	(3	)	(4	)	(1	)	1	(7	)
Total Company	(3	)	(2	)	(1	)	1	(5	)

Three Months Ended September 30, 2018 Compared to Three Months Ended June 30, 2018

	Volume		Price	Currency		Other	Total
	(In percentages)
Engineered Materials	(2	)	—	(1	)	—	(3	)
Acetate Tow	(2	)	—	—		—	(2	)
Acetyl Chain	(4	)	2	(2	)	—	(4	)
Total Company	(3	)	1	(2	)	—	(4	)

Three Months Ended June 30, 2018 Compared to Three Months Ended March 31, 2018

	Volume		Price	Currency		Other		Total
	(In percentages)
Engineered Materials	(1	)	3	(2	)	—		—
Acetate Tow	(3	)	—	(1	)	—		(4	)
Acetyl Chain	(2	)	4	(1	)	(1	)	—
Total Company	(2	)	3	(1	)	—		—

Three Months Ended March 31, 2018 Compared to Three Months Ended December 31, 2017

	Volume	Price	Currency	Other		Total
	(In percentages)
Engineered Materials	10	3	2	—		15	(1)
Acetate Tow	8	—	—	—		8
Acetyl Chain	8	9	3	(2	)	18
Total Company	9	6	2	(1	)	16

Three Months Ended December 31, 2017 Compared to Three Months Ended September 30, 2017

	Volume		Price		Currency	Other	Total
	(In percentages)
Engineered Materials	(8	)	9		—	—	1
Acetate Tow	2		(2	)	—	—	—
Acetyl Chain	(5	)	7		—	1	3
Total Company	(5	)	7		—	—	2

Three Months Ended September 30, 2017 Compared to Three Months Ended June 30, 2017

	Volume		Price	Currency	Other	Total
	(In percentages)
Engineered Materials	1		1	3	—	5
Acetate Tow	(5	)	1	—	—	(4	)
Acetyl Chain	1		—	3	—	4
Total Company	—		1	3	—	4

Three Months Ended June 30, 2017 Compared to Three Months Ended March 31, 2017

	Volume		Price		Currency	Other		Total
	(In percentages)
Engineered Materials	4		—		2	—		6		(2)
Acetate Tow	(12	)	(3	)	—	—		(15	)
Acetyl Chain	—		5		1	(2	)	4
Total Company	—		3		1	(1	)	3

Three Months Ended March 31, 2017 Compared to Three Months Ended December 31, 2016

	Volume	Price		Currency		Other	Total
	(In percentages)
Engineered Materials	33	—		(1	)	—	32		(3)
Acetate Tow	2	(6	)	—		—	(4	)
Acetyl Chain	2	5		(1	)	—	6
Total Company	11	2		(1	)	—	12

___________________________

⁽¹⁾  2018 includes the effect of the acquisition of Omni Plastics, L.L.C.

⁽²⁾  2017 includes the effect of the acquisition of the nylon compounding division of Nilit Group.

⁽³⁾  2017 includes the effect of the SO.F.TER. S.p.A. acquisition.

10

Table 4b

Factors Affecting Segment Net Sales Year Over Year - Unaudited

Three Months Ended December 31, 2018 Compared to Three Months Ended December 31, 2017

	Volume		Price		Currency		Other		Total
	(In percentages)
Engineered Materials	2		7		(2	)	—		7
Acetate Tow	5		(2	)	—		—		3
Acetyl Chain	(2	)	10		(2	)	(1	)	5
Total Company	—		8		(2	)	—		6

Three Months Ended September 30, 2018 Compared to Three Months Ended September 30, 2017

	Volume		Price		Currency		Other		Total
	(In percentages)
Engineered Materials	7		6		(1	)	—		12
Acetate Tow	5		(3	)	—		(1	)	1
Acetyl Chain	(3	)	22		—		(2	)	17
Total Company	1		14		(1	)	(1	)	13

Three Months Ended June 30, 2018 Compared to Three Months Ended June 30, 2017

	Volume	Price		Currency	Other		Total
	(In percentages)
Engineered Materials	11	7		4	—		22
Acetate Tow	1	(2	)	—	—		(1	)
Acetyl Chain	6	19		5	(3	)	27
Total Company	7	13		4	(2	)	22

Three Months Ended March 31, 2018 Compared to Three Months Ended March 31, 2017

	Volume		Price		Currency	Other		Total
	(In percentages)
Engineered Materials	19		3		7	—		29
Acetate Tow	(9	)	(4	)	1	—		(12	)
Acetyl Chain	3		25		7	(3	)	32
Total Company	7		14		6	(1	)	26

Three Months Ended December 31, 2017 Compared to Three Months Ended December 31, 2016

	Volume		Price		Currency	Other		Total
	(In percentages)
Engineered Materials	45		—		4	—		49
Acetate Tow	(14	)	(9	)	1	1		(21	)
Acetyl Chain	(2	)	19		4	(2	)	19
Total Company	10		10		3	(1	)	22

Three Months Ended September 30, 2017 Compared to Three Months Ended September 30, 2016

	Volume		Price		Currency	Other		Total
	(In percentages)
Engineered Materials	45		(2	)	2	—		45
Acetate Tow	(12	)	(8	)	1	—		(19	)
Acetyl Chain	—		13		2	(2	)	13
Total Company	11		6		2	(1	)	18

Three Months Ended June 30, 2017 Compared to Three Months Ended June 30, 2016

	Volume		Price		Currency		Other		Total
	(In percentages)
Engineered Materials	42		(2	)	(1	)	—		39
Acetate Tow	(13	)	(9	)	—		—		(22	)
Acetyl Chain	(3	)	12		(2	)	(1	)	6
Total Company	8		5		(1	)	—		12

Three Months Ended March 31, 2017 Compared to Three Months Ended March 31, 2016

	Volume		Price		Currency		Other	Total
	(In percentages)
Engineered Materials	43		(4	)	(2	)	—	37
Acetate Tow	(6	)	(7	)	—		—	(13	)
Acetyl Chain	(9	)	5		(2	)	1	(5	)
Total Company	5		1		(2	)	1	5

11

Table 4c

Factors Affecting Segment Net Sales Year Over Year - Unaudited

Year Ended December 31, 2018 Compared to Year Ended December 31, 2017

	Volume	Price		Currency	Other		Total
	(In percentages)
Engineered Materials	9	6		2	—		17
Acetate Tow	—	(3	)	—	—		(3	)
Acetyl Chain	1	19		2	(2	)	20
Total Company	4	12		2	(1	)	17

Year Ended December 31, 2017 Compared to Year Ended December 31, 2016

	Volume		Price		Currency	Other	Total
	(In percentages)
Engineered Materials	44		(2	)	1	—	43
Acetate Tow	(11	)	(8	)	—	—	(19	)
Acetyl Chain	(4	)	12		—	—	8
Total Company	9		5		—	—	14

12

Table 5

Free Cash Flow - Reconciliation of a Non-GAAP Measure - Unaudited

	2018		Q4 '18		Q3 '18		Q2 '18		Q1 '18		2017		Q4 '17		Q3 '17		Q2 '17		Q1 '17
	(In $ millions)
Net cash provided by (used in) investing activities	(507	)	(98	)	(78	)	(96	)	(235	)	(549	)	(92	)	(68	)	(325	)	(64	)
Net cash provided by (used in) financing activities	(1,165	)	(526	)	(383	)	(254	)	(2	)	(351	)	145		(247	)	21		(270	)
Net cash provided by (used in) operating activities	1,558		363		467		585		143		803		58		255		298		192
Capital expenditures on property, plant and equipment	(337	)	(93	)	(79	)	(79	)	(86	)	(267	)	(87	)	(64	)	(54	)	(62	)
Capital (distributions to) contributions from NCI	(23	)	(9	)	(6	)	(6	)	(2	)	(27	)	(9	)	(10	)	(4	)	(4	)
Free cash flow(1)(2)	1,198		261		382		500		55		509		(38	)	181		240		126
Net sales	7,155		1,689		1,771		1,844		1,851		6,140		1,593		1,566		1,510		1,471
Free cash flow as % of Net sales	16.7	%	15.5	%	21.6	%	27.1	%	3.0	%	8.3	%	(2.4	)%	11.6	%	15.9	%	8.6	%

______________________________

⁽¹⁾  Free cash flow is a liquidity measure used by the Company and is defined by the Company as net cash provided by (used in) operating activities, less capital expenditures on property, plant and equipment, and adjusted for capital contributions from or distributions to Mitsui & Co., Ltd. ("Mitsui") related to our joint venture, Fairway Methanol LLC ("Fairway").

⁽²⁾  Excludes required debt service and capital lease payments of $63 million and $27 million for the years ending December 31, 2018 and 2017, respectively.

13

Table 6

Cash Dividends Received - Unaudited

	2018	Q4 '18	Q3 '18	Q2 '18	Q1 '18	2017	Q4 '17	Q3 '17	Q2 '17	Q1 '17
	(In $ millions)
Dividends from equity method investments	221	62	44	39	76	131	17	5	59	50
Dividends from equity investments without readily determinable fair values	117	25	26	34	32	108	26	24	29	29
Total	338	87	70	73	108	239	43	29	88	79

Table 7

Net Debt - Reconciliation of a Non-GAAP Measure - Unaudited

	2018		Q4 '18		Q3 '18		Q2 '18		Q1 '18		2017		Q4 '17		Q3 '17		Q2 '17		Q1 '17
	(In $ millions)
Short-term borrowings and current installments of long-term debt - third party and affiliates	561		561		229		366		425		326		326		435		384		107
Long-term debt, net of unamortized deferred financing costs	2,970		2,970		3,196		3,228		3,343		3,315		3,315		2,954		2,931		2,851
Total debt	3,531		3,531		3,425		3,594		3,768		3,641		3,641		3,389		3,315		2,958
Cash and cash equivalents	(439	)	(439	)	(703	)	(708	)	(490	)	(576	)	(576	)	(461	)	(511	)	(501	)
Net debt	3,092		3,092		2,722		2,886		3,278		3,065		3,065		2,928		2,804		2,457

14

Table 8

Certain Items - Unaudited

The following Certain Items attributable to Celanese Corporation are included in Net earnings (loss) and are adjustments to non-GAAP measures:

	2018	Q4 '18	Q3 '18	Q2 '18	Q1 '18	2017	Q4 '17	Q3 '17	Q2 '17		Q1 '17		Income Statement Classification
	(In $ millions)
Plant/office closures	19	16	—	3	—	58	2	2	(3	)	57		Cost of sales / SG&A / R&D / Other charges (gains), net
Mergers and acquisitions	33	6	3	11	13	35	9	10	7		9		Cost of sales / SG&A / Other income (expense), net
Impact from natural disasters(1)	—	—	—	—	—	11	—	11	—		—		Cost of sales
InfraServ ownership change	—	—	—	—	—	8	—	—	8		—		Other charges (gains), net / Equity in net earnings (loss) of affiliates
Actuarial (gain) loss on pension and postretirement plans	166	166	—	—	—	46	46	—	—		—		Cost of sales / SG&A / Non-operating pension and other postretirement employee benefit (expense) income
Restructuring	9	4	2	3	—	9	—	4	3		2		Cost of sales / SG&A / Other charges (gains), net / Non-operating pension and other postretirement employee benefit (expense) income
Other	1	—	—	1	—	—	—	—	3		(3	)	(Gain) loss on disposition, net / Equity in net earnings (loss) of affiliates
Certain Items attributable to Celanese Corporation	228	192	5	18	13	167	57	27	18		65

______________________________

⁽¹⁾  Primarily associated with Hurricane Harvey.

15

Table 9

Return on Invested Capital (Adjusted) - Presentation of a Non-GAAP Measure - Unaudited

			2018				2017
			(In $ millions, except percentages)				(In $ millions, except percentages)
Net earnings (loss) attributable to Celanese Corporation			1,207				843
Adjusted EBIT(Table 1)			1,852				1,356
Adjusted effective tax rate (Table 3a)			14	%			16	%
Adjusted EBIT tax effected			1,593				1,139
	2018	2017	Average		2017	2016	Average
	(In $ millions, except percentages)
Short-term borrowings and current installments of long-term debt - third parties and affiliates	561	326	444		326	118	222
Long-term debt, net of unamortized deferred financing costs	2,970	3,315	3,143		3,315	2,890	3,103
Celanese Corporation stockholders' equity	2,984	2,887	2,936		2,887	2,588	2,738
Invested capital			6,523				6,063
Return on invested capital (adjusted)			24.4	%			18.8	%
Net earnings (loss) attributable to Celanese Corporation as a percentage of invested capital			18.5	%			13.9	%

16