EX-99.02 3 ex99_0220230331afpcisegmen.htm EX-99.02 2023.03.31 AFP & CI SEGMENT RECAST Document
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Exhibit 99.02

Unaudited Financial Information Recast for Changes in the
Additives & Functional Products Segment and the Chemical Intermediates Segment


2022
(Dollars in millions)First QuarterSecond QuarterThird QuarterFourth QuarterFull
Year
Additives & Functional Products
Sales$889 $924 $906 $756 $3,475 
Earnings (loss) before interest and taxes ("EBIT")167 160 143 76 546 
Depreciation and amortization142 
Chemical Intermediates
Sales$715 $772 $665 $564 $2,716 
EBIT112 142 68 24 346 
Asset impairments and restructuring charges, net1 
1
1 
1
1 
1
— 3 
1
EBIT excluding non-core item113 143 69 24 349 
Depreciation and amortization104 
1Site closure costs of $1 million included in each first quarter 2022, second quarter 2022, and third quarter 2022 resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site.


2021
(Dollars in millions)First QuarterSecond QuarterThird QuarterFourth QuarterFull
Year
Additives & Functional Products
Sales$672 $722 $775 $780 $2,949 
EBIT124 115 130 112 481 
Asset impairments and restructuring charges, net— 
1
2 
1
1 
1
1 
1
4 
1
EBIT excluding non-core items124 117 131 113 485 
Depreciation and amortization141 
Chemical Intermediates
Sales$542 $669 $685 $712 $2,608 
EBIT52 131 130 99 412 
Asset impairments and restructuring charges, net4 
2
7 
2
2 
2
3 
2
16 
2
EBIT excluding non-core items56 138 132 102 428 
Depreciation and amortization102 
1Site closure costs of $1 million included in each first quarter 2021, second quarter 2021, and third quarter 2021, contract termination fees of $1 million in second quarter 2021, and asset impairments of $1 million in fourth quarter 2021 resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site. First quarter 2021 charges were offset by a $1 million gain on the sale of impaired assets from the previously reported closure of an animal nutrition manufacturing facility in Asia Pacific as part of ongoing site optimization.
2Site closure costs of $4 million, $2 million, and $1 million included in first quarter 2021, third quarter 2021, and fourth quarter 2021, respectively, contract termination fees of $7 million in second quarter 2021, and asset impairments of $2 million in fourth quarter 2021 resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site.




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Exhibit 99.02
2020
(Dollars in millions)First QuarterSecond QuarterThird QuarterFourth QuarterFull
Year
Additives & Functional Products
Sales$636 $567 $551 $588 $2,342 
EBIT135 104 95 106 440 
Asset impairments and restructuring charges, net2 
1
— 1 
2
— 3 
1,2
EBIT excluding non-core items137 104 96 106 443 
Depreciation and amortization132 
Chemical Intermediates
Sales$516 $392 $464 $471 $1,843 
EBIT59 (2)25 26 108 
Asset impairments and restructuring charges, net1 
3
2 
3
1 
3
1 
3
5 
3
EBIT excluding non-core item60 — 26 27 113 
Depreciation and amortization101 
1First quarter 2020 included an intangible asset impairment of $2 million for customer relationships.
2Severance costs of $1 million included in third quarter 2020 resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site.
3Severance costs of $1 million, $2 million, $1 million, and $1 million in first quarter 2020, second quarter 2020, third quarter 2020, and fourth quarter 2020, respectively, resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site.


2019
(Dollars in millions)First QuarterSecond QuarterThird QuarterFourth QuarterFull
Year
Additives & Functional Products
Sales$650 $618 $619 $568 $2,455 
EBIT119 122 118 42 401 
Asset impairments and restructuring charges, net4 
1
— — 50 
2
54 
1,2
EBIT excluding non-core items123 122 118 92 455 
Depreciation and amortization176 
Chemical Intermediates
Sales$592 $572 $533 $534 $2,231 
EBIT66 50 25 (4)137 
Asset impairments and restructuring charges, net— — — 22 
3
22 
3
EBIT excluding non-core item66 50 25 18 159 
Depreciation and amortization102 
1First quarter 2019 included restructuring charges of $4 million related to a capital project that was discontinued in 2016.
2Fourth quarter 2019 included a goodwill impairment charge of $45 million related to the crop protection product line and an asset impairment of $5 million resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing operations.
3Fourth quarter 2019 included asset impairment charges of $22 million resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing operations.