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Quarterly Financial Data (Schedule of Quarterly Financial Data) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Quarterly Financial Data [Abstract]                      
Net sales $ 7,378us-gaap_SalesRevenueNet $ 7,511us-gaap_SalesRevenueNet $ 9,706us-gaap_SalesRevenueNet $ 10,128us-gaap_SalesRevenueNet $ 7,747us-gaap_SalesRevenueNet $ 7,735us-gaap_SalesRevenueNet $ 9,844us-gaap_SalesRevenueNet $ 10,408us-gaap_SalesRevenueNet $ 34,723us-gaap_SalesRevenueNet [1] $ 35,734us-gaap_SalesRevenueNet [1] $ 34,812us-gaap_SalesRevenueNet [1]
Cost of goods sold 4,823us-gaap_CostOfGoodsSold 4,881us-gaap_CostOfGoodsSold 5,999us-gaap_CostOfGoodsSold 6,000us-gaap_CostOfGoodsSold 5,132us-gaap_CostOfGoodsSold 5,165us-gaap_CostOfGoodsSold 6,057us-gaap_CostOfGoodsSold 6,193us-gaap_CostOfGoodsSold 21,703us-gaap_CostOfGoodsSold 22,547us-gaap_CostOfGoodsSold 21,400us-gaap_CostOfGoodsSold
Income from continuing operations before income taxes 963us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [2],[3],[4],[5],[6] 786us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [2] 1,440us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [2],[3],[7],[8] 1,802us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [2] 122us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [10],[11],[9] 228us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [12],[9] 1,365us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [13],[9] 1,774us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [9] 4,991us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 3,489us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 3,088us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Net income $ 683us-gaap_ProfitLoss $ 434us-gaap_ProfitLoss $ 1,074us-gaap_ProfitLoss $ 1,445us-gaap_ProfitLoss $ 185us-gaap_ProfitLoss $ 288us-gaap_ProfitLoss $ 1,034us-gaap_ProfitLoss [14] $ 3,355us-gaap_ProfitLoss [15] $ 3,636us-gaap_ProfitLoss $ 4,862us-gaap_ProfitLoss $ 2,780us-gaap_ProfitLoss
Basic earnings per share of common stock from continuing operations $ 0.73us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [16] $ 0.47us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [16] $ 1.16us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [16] $ 1.56us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [16] $ 0.19us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [16] $ 0.28us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [16] $ 1.11us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [16] $ 1.48us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [16] $ 3.94us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 3.07us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 2.61us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Diluted earnings per share of common stock from continuing operations $ 0.73us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [16] $ 0.47us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [16] $ 1.15us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [16] $ 1.54us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [16] $ 0.19us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [16] $ 0.28us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [16] $ 1.10us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [16] $ 1.47us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [16] $ 3.90us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 3.04us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 2.59us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
[1] Net sales, based on the location of the customer, are generally presented for locations with greater than two percent of total net sales.
[2] First, second, third and fourth quarter 2014 included charges of $(16), $(35), $(61), and $(63), respectively, recorded in other operating charges associated with transaction costs related to the separation of the Performance Chemicals segment. See Note 2 for additional information.
[3] Second and Fourth quarter 2014 included a $(263) and $(299) restructuring charge, respectively, as a result of the company's plan to reduce residual costs associated with the separation of the Performance Chemicals segment and to improve productivity across all businesses and functions. The second quarter 2014 charge is recorded in employee separation/asset related charges, net. The fourth quarter 2014 restructuring charge of $(299) consists of $(234) recorded in employee separation/asset related charges, net, and $(65) recorded in other income, net. See Note 3 for additional information.
[4] Fourth quarter 2014 included a $70 adjustment to lower performance-based compensation expense.
[5] Fourth quarter 2014 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.
[6] Fourth quarter 2014 included income of $210 for insurance recoveries, recorded within other operating charges, associated with the recovery of costs for customer claims related to the use of Imprelis®. See Note 15 for additional information.
[7] Second quarter 2014 included a $(58) pre-tax charge within other income, net associated with the remeasurement of Venezuelan Bolivar net monetary assets.
[8] Second quarter 2014 included a gain of $391 recorded in other income, net associated with the sale of Glass Laminating Solutions/Vinyls. See Note 2 for additional information.
[9] First and second quarter 2013 included charges of $(35) and $(80), respectively, recorded in other operating charges associated with the company's process to fairly resolve claims related to the use of Imprelis®. Third and fourth quarter 2013 included charges of $(65) and $(245), respectively, offset by $25 and $48 of insurance recoveries, respectively. See Note 15
[10] Fourth quarter 2013 included a net $5 restructuring adjustment consisting of a $24 benefit associated with prior year restructuring programs and a $(19) charge associated with restructuring actions related to a joint venture. The majority of the $24 net reduction recorded in employee separation/asset related charges, net was due to the achievement of work force reductions through non-severance programs associated with the 2012 restructuring program. The charge of $(19) included $(9) recorded in employee separation/asset related charges, net and $(10) recorded in other income, net and was the result of restructuring actions related to a joint venture within the Performance Materials segment. See Note 3 for additional information.
[11] Fourth quarter 2013 included a $(129) impairment charge recorded in employee separation/asset related charges, net related to an asset grouping within the Electronics & Communications segment. See Note 3 for additional information.
[12] Third quarter 2013 included a $(72) charge recorded in other operating charges related to the titanium dioxide antitrust litigation.
[13] Second quarter 2013 included a charge of $(11) in other income, net related to interest on a prior year tax position.
[14] Second quarter 2013 included a charge of $(49) associated with a change in accrual for a prior year tax position (inclusive of a benefit associated with interest on a prior year tax position) offset by a $33 benefit for an enacted tax law change.
[15] First quarter 2013 included a net tax benefit of $42 consisting of a $68 benefit for the 2013 extension of certain U.S business tax provisions offset by a $(26) charge related to the global distribution of Performance Coatings cash proceeds.
[16] Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations.