Quarterly Financial Data

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data [Abstract]

Quarterly Financial Data

QUARTERLY FINANCIAL DATA

Unaudited	For the quarter ended
	March 31,			June 30,			September 30,				December 31,
2012
Net sales	$	10,180		$	9,917		$	7,390			$	7,325
Cost of goods sold and other expenses1	8,285		3	8,581		3,4	7,394			3,6,7	7,471			3,6,7
Income (loss) from continuing operations before income taxes	1,795			1,510		5	(174		)		(16		)	8
Net income	1,500			1,188			13				112
Basic earnings (loss) per share of common stock from continuing operations2	1.49			1.18			(0.05		)		0.02
Diluted earnings (loss) per share of common stock from continuing operations2	1.47			1.17			(0.05		)		0.02
2011
Net sales	$	9,041		$	9,159		$	8,138			$	7,343
Cost of goods sold and other expenses1	7,382			7,815		9	7,736			10,11,12	7,262			12,13
Income from continuing operations before income taxes	1,580			1,447			451				303			14
Net income	1,444			1,229			460				377			14
Basic earnings per share of common stock from continuing operations2	1.45			1.20			0.39				0.31
Diluted earnings per share of common stock from continuing operations2	1.43			1.18			0.39				0.31

^1.  Represents total expenses less interest expense.

^2.  Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations.

^3.  First quarter, second quarter, third quarter, and fourth quarter 2012 included charges of $(50), $(265), $(125), and $(135), respectively, recorded in cost of goods sold and other operating charges associated with the company's process to fairly resolve claims related to the use of Imprelis^®. See description in Note 16 for further details.

^4.  Second quarter 2012 included a $(137) charge recorded in costs of goods sold and other operating charges primarily related to the company's settlement of litigation with INVISTA. See description in Note 16 for further details.

^5.  Second quarter 2012 included a a pre-tax gain of $122 recorded in other income, net associated with the sale of an equity method investment in the Electronics & Communications segment.

^6.  Third quarter 2012 included a $(152) restructuring charge recorded in employee separation / asset related charges, net related to the 2012 restructuring program. Fourth quarter 2012 included a net $(66) charge recorded in employee separation / asset related charges, net related to costs associated with the 2012 restructuring program partially offset by a reversal of prior years restructuring accruals. See description in Note 3 for further details.

^7.  Third and fourth quarter 2012 included asset impairment charges of $(242) and $(33), respectively, recorded in employee separation / asset related charges, net related to certain asset groupings. See descriptions in Note 3 for further details.

^8.  Fourth quarter 2012 included a pre-tax gain of $117 recorded in other income, net associated with the sale of a business within the Agriculture segment.

^9.  Second quarter 2011 included charges related to the businesses acquired from Danisco of $(103), recorded in cost of goods sold and other operating charges, including $(60) of transaction costs and a $(43) charge related to the fair value step-up of inventories that were acquired from Danisco.

^10.  Third quarter 2011 included charges related to the businesses acquired from Danisco of $(171). These charges included $(3) of transaction costs and a $(132) charge related to the fair value step-up of inventories that were acquired from Danisco, both recorded in cost of goods sold and other operating charges. These charges also included a $(36) restructuring charge recorded in employee separation / asset related charges, net related to severance and related benefit costs.

^11.  Third quarter 2011 included a $(50) charge recorded in research and development expense in connection with a milestone payment associated with a Pioneer licensing agreement.

^12.  Third and fourth quarter 2011 included charges of $(75) and $(100), respectively, recorded in costs of goods sold and other operating charges associated with the company's process to fairly resolve claims related to the use of Imprelis^®. See description in Note 16 for further details.

^13.  Fourth quarter 2011 included a $(17) restructuring charge recorded in employee separation / asset related charges, net related to severance and related benefit costs associated with the Danisco acquisition, partially offset by a reversal of prior year restructuring accruals.

^14.  Fourth quarter 2011 included a pre-tax gain of $49 recorded in other income, net associated with the sale of a business in the Performance Materials segment and a related tax benefit of $73.