XML 19 R2.htm IDEA: XBRL DOCUMENT v3.21.2
UNAUDITED CONSOLIDATED STATEMENTS OF EARNINGS, COMPREHENSIVE INCOME AND RETAINED EARNINGS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Income Statement [Abstract]        
Sales $ 2,653 $ 1,924 $ 5,062 $ 4,165
Cost of sales 1,972 1,553 3,783 3,217
Gross profit 681 371 1,279 948
Selling, general and administrative expenses 202 155 386 315
Research and development expenses 63 52 121 113
Asset impairments and restructuring charges, net 15 141 22 155
Other components of post-employment (benefit) cost, net (37) (30) (73) (60)
Other (income) charges, net (1) (1) (5) 3
Loss on business held for sale 495 0 495 0
Earnings (loss) before interest and taxes (56) 54 333 422
Net interest expense 51 55 101 107
Earnings (loss) before income taxes (107) (1) 232 315
Provision for income taxes 37 (31) 99 25
Net earnings (loss) (144) 30 133 290
Less: Net earnings attributable to noncontrolling interest 2 3 5 5
Net earnings (loss) attributable to Eastman $ (146) $ 27 $ 128 $ 285
Earnings Per Share, Basic [Abstract]        
Basic earnings per share attributable to Eastman $ (1.07) $ 0.20 $ 0.94 $ 2.10
Diluted earnings per share attributable to Eastman        
Diluted earnings per share attributable to Eastman $ (1.07) $ 0.20 $ 0.93 $ 2.09
Comprehensive Income        
Net earnings (loss) including noncontrolling interest $ (144) $ 30 $ 133 $ 290
Other comprehensive income (loss), net of tax:        
Change in cumulative translation adjustment 9 (14) 11 5
Defined benefit pension and other postretirement benefit plans:        
Amortization of unrecognized prior service credits (7) (7) (14) (14)
Derivatives and hedging:        
Unrealized gain (loss) during period 4 (3) 29 4
Reclassification adjustment for (gains) losses included in net income, net 9 12 14 10
Total other comprehensive income (loss), net of tax 15 (12) 40 5
Comprehensive income including noncontrolling interest (129) 18 173 295
Less: Net earnings attributable to noncontrolling interest 2 3 5 5
Comprehensive income (loss) attributable to Eastman (131) 15 168 290
Retained Earnings        
Retained earnings at beginning of period 8,260 8,133 8,080 7,965
Net earnings (loss) attributable to Eastman (146) 27 128 285
Cash dividends declared (94) [1] (89) [1] (188) [2] (179) [2]
Retained earnings at end of period $ 8,020 $ 8,071 $ 8,020 $ 8,071
[1] Cash dividends declared consists of cash dividends paid and dividends declared but unpaid.
[2] Cash dividends declared consists of cash dividends paid and dividends declared but unpaid.