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10-Q Filing

EASTMAN CHEMICAL CO CIK: 915389 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000915389-18-000026
Period End Date 20180331
Filing Date 20180507
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance emn-20180331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $197.00M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $181.00M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $191.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $194.00M USD Point-in-time
Trade receivables, net of allowance for doubtful accounts AccountsReceivableNetCurrent $1.03B USD Point-in-time
Trade receivables, net of allowance for doubtful accounts AccountsReceivableNetCurrent $1.43B USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 350.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 350.00M shares Point-in-time
Miscellaneous receivables OtherReceivables $319.00M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 219.03M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 218.37M shares Point-in-time
Miscellaneous receivables OtherReceivables $360.00M USD Point-in-time
Inventories InventoryNet $1.51B USD Point-in-time
Treasury stock at cost (in shares) TreasuryStockShares 76.45M shares Point-in-time
Inventories InventoryNet $1.48B USD Point-in-time
Treasury stock at cost (in shares) TreasuryStockShares 75.45M shares Point-in-time
Other current assets OtherAssetsCurrent $57.00M USD Point-in-time
Other current assets OtherAssetsCurrent $64.00M USD Point-in-time
Total current assets AssetsCurrent $3.14B USD Point-in-time
Total current assets AssetsCurrent $3.48B USD Point-in-time
Properties and equipment at cost PropertyPlantAndEquipmentGross $12.37B USD Point-in-time
Properties and equipment at cost PropertyPlantAndEquipmentGross $12.52B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $6.89B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $6.76B USD Point-in-time
Net properties PropertyPlantAndEquipmentNet $5.63B USD Point-in-time
Net properties PropertyPlantAndEquipmentNet $5.61B USD Point-in-time
Goodwill Goodwill $4.53B USD Point-in-time
Goodwill Goodwill $4.54B USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $2.35B USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $2.37B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $362.00M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $349.00M USD Point-in-time
Total assets Assets $16.37B USD Point-in-time
Total assets Assets $16.00B USD Point-in-time
Payables and other current liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.59B USD Point-in-time
Payables and other current liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.44B USD Point-in-time
Borrowings due within one year ShortTermBorrowings $393.00M USD Point-in-time
Borrowings due within one year ShortTermBorrowings $589.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.03B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.98B USD Point-in-time
Long-term borrowings LongTermDebtNoncurrent $6.15B USD Point-in-time
Long-term borrowings LongTermDebtNoncurrent $6.31B USD Point-in-time
Deferred income tax liabilities DeferredTaxLiabilitiesNoncurrent $893.00M USD Point-in-time
Deferred income tax liabilities DeferredTaxLiabilitiesNoncurrent $914.00M USD Point-in-time
Post-employment obligations PostemploymentBenefitsLiabilityNoncurrent $951.00M USD Point-in-time
Post-employment obligations PostemploymentBenefitsLiabilityNoncurrent $963.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $534.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $541.00M USD Point-in-time
Total liabilities Liabilities $10.75B USD Point-in-time
Total liabilities Liabilities $10.52B USD Point-in-time
Common stock ($0.01 par value 350,000,000 shares authorized; shares issued 219,032,630 and 218,369,992 for 2018 and 2017, respectively) CommonStockValue $2.00M USD Point-in-time
Common stock ($0.01 par value 350,000,000 shares authorized; shares issued 219,032,630 and 218,369,992 for 2018 and 2017, respectively) CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.98B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.00B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $7.03B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $6.80B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.92B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.72B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-209.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-281.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-212.00M USD Point-in-time
Stockholder's Equity before Treasury Stock StockholdersEquityBeforeTreasuryStock $8.58B USD Point-in-time
Stockholder's Equity before Treasury Stock StockholdersEquityBeforeTreasuryStock $8.82B USD Point-in-time
Less: Treasury stock at cost (76,448,346 shares for 2018 and 75,454,111 shares for 2017) TreasuryStockValue $3.27B USD Point-in-time
Less: Treasury stock at cost (76,448,346 shares for 2018 and 75,454,111 shares for 2017) TreasuryStockValue $3.17B USD Point-in-time
Total Eastman stockholders' equity StockholdersEquity $5.40B USD Point-in-time
Total Eastman stockholders' equity StockholdersEquity $5.54B USD Point-in-time
Noncontrolling interest MinorityInterest $77.00M USD Point-in-time
Noncontrolling interest MinorityInterest $75.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.62B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.48B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $16.00B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $16.37B USD Point-in-time
Income Statement 68 line items
Line Item Tag Value Unit Period
Sales Revenues $2.30B USD 1 Quarter
Sales Revenues $2.61B USD 1 Quarter
Cost of sales CostOfGoodsSold $1.70B USD 1 Quarter
Cost of sales CostOfGoodsSold $2.03B USD 1 Quarter
Gross profit GrossProfit $605.00M USD 1 Quarter
Gross profit GrossProfit $581.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $190.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $179.00M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $56.00M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $57.00M USD 1 Quarter
Asset impairments and restructuring charges, net RestructuringSettlementAndImpairmentProvisions - USD 1 Quarter
Asset impairments and restructuring charges, net RestructuringSettlementAndImpairmentProvisions $2.00M USD 1 Quarter
Other components of post-employment (benefit) cost, net PensionAndOtherPostretirementBenefitExpense $-28.00M USD 1 Quarter
Other components of post-employment (benefit) cost, net PensionAndOtherPostretirementBenefitExpense $-30.00M USD 1 Quarter
Other (income) charges, net NonoperatingIncomeExpense $46.00M USD 1 Quarter
Other (income) charges, net NonoperatingIncomeExpense $4.00M USD 1 Quarter
Earnings before interest and taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $409.00M USD 1 Quarter
Earnings before interest and taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $401.00M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-60.00M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-59.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $341.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $350.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $62.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $60.00M USD 1 Quarter
Net earnings ProfitLoss $279.00M USD 1 Quarter
Net earnings ProfitLoss $290.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net earnings attributable to Eastman NetIncomeLoss $290.00M USD 1 Quarter
Net earnings attributable to Eastman NetIncomeLoss $278.00M USD 1 Quarter
Basic earnings per share attributable to Eastman EarningsPerShareBasic $1.90 USD 1 Quarter
Basic earnings per share attributable to Eastman EarningsPerShareBasic $2.03 USD 1 Quarter
Diluted earnings per share attributable to Eastman EarningsPerShareDiluted $2.00 USD 1 Quarter
Diluted earnings per share attributable to Eastman EarningsPerShareDiluted $1.89 USD 1 Quarter
Net earnings including noncontrolling interest ProfitLoss $279.00M USD 1 Quarter
Net earnings including noncontrolling interest ProfitLoss $290.00M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $85.00M USD Annual
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $7.00M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $27.00M USD 1 Quarter
Amortization of unrecognized prior service credits included in net periodic (credit) cost OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-7.00M USD 1 Quarter
Amortization of unrecognized prior service credits included in net periodic (credit) cost OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-7.00M USD 1 Quarter
Unrealized gain (loss) during period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-21.00M USD 1 Quarter
Unrealized gain (loss) during period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-23.00M USD 1 Quarter
Reclassification adjustment for (gains) losses included in net income, net OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $4.00M USD 1 Quarter
Reclassification adjustment for (gains) losses included in net income, net OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax - USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-25.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-3.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $72.00M USD Annual
Comprehensive income including noncontrolling interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $287.00M USD 1 Quarter
Comprehensive income including noncontrolling interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $254.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive income attributable to Eastman ComprehensiveIncomeNetOfTax $253.00M USD 1 Quarter
Comprehensive income attributable to Eastman ComprehensiveIncomeNetOfTax $287.00M USD 1 Quarter
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $7.03B USD Point-in-time
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $6.80B USD Point-in-time
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $5.92B USD Point-in-time
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $5.72B USD Point-in-time
Cumulative effect adjustment resulting from adoption of new accounting standards CumulativeEffectOnRetainedEarningsNetOfTax1 - USD 1 Quarter
Cumulative effect adjustment resulting from adoption of new accounting standards CumulativeEffectOnRetainedEarningsNetOfTax1 $16.00M USD 1 Quarter
Net earnings attributable to Eastman NetIncomeLoss $290.00M USD 1 Quarter
Net earnings attributable to Eastman NetIncomeLoss $278.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $82.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $74.00M USD 1 Quarter
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $7.03B USD Point-in-time
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $6.80B USD Point-in-time
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $5.92B USD Point-in-time
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $5.72B USD Point-in-time
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $279.00M USD 1 Quarter
Net earnings ProfitLoss $290.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $152.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $145.00M USD 1 Quarter
Gain from property insurance InsuredEventGainLoss $50.00M USD 1 Quarter
Gain from property insurance InsuredEventGainLoss - USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $31.00M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $11.00M USD 1 Quarter
(Increase) decrease in trade receivables IncreaseDecreaseInAccountsReceivable $149.00M USD 1 Quarter
(Increase) decrease in trade receivables IncreaseDecreaseInAccountsReceivable $223.00M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $82.00M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $80.00M USD 1 Quarter
Increase (decrease) in trade payables IncreaseDecreaseInAccountsPayableTrade $-26.00M USD 1 Quarter
Increase (decrease) in trade payables IncreaseDecreaseInAccountsPayableTrade $8.00M USD 1 Quarter
Pension and other postretirement contributions (in excess of) less than expenses PensionAndOtherPostretirementBenefitsContributionsInExcessOfLessThanExpenses $36.00M USD 1 Quarter
Pension and other postretirement contributions (in excess of) less than expenses PensionAndOtherPostretirementBenefitsContributionsInExcessOfLessThanExpenses $36.00M USD 1 Quarter
Variable compensation (in excess of) less than expenses VariableCashCompensationInExcessOfLessThanExpenses $84.00M USD 1 Quarter
Variable compensation (in excess of) less than expenses VariableCashCompensationInExcessOfLessThanExpenses $77.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $-26.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $-30.00M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $52.00M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-35.00M USD 1 Quarter
Additions to properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $133.00M USD 1 Quarter
Additions to properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $128.00M USD 1 Quarter
Proceeds from property insurance ProceedsFromInsuranceSettlementInvestingActivities $50.00M USD 1 Quarter
Proceeds from property insurance ProceedsFromInsuranceSettlementInvestingActivities - USD 1 Quarter
Proceeds from sale of assets ProceedsFromSalesOfAssetsInvestingActivities $1.00M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSalesOfAssetsInvestingActivities - USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $4.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-136.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-78.00M USD 1 Quarter
Net increase (decrease) in commercial paper and other borrowings ProceedsFromRepaymentsOfShortTermDebt $199.00M USD 1 Quarter
Net increase (decrease) in commercial paper and other borrowings ProceedsFromRepaymentsOfShortTermDebt - USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfLongTermDebt $250.00M USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfLongTermDebt $275.00M USD 1 Quarter
Repayment of borrowings RepaymentsOfLongTermDebt - USD 1 Quarter
Repayment of borrowings RepaymentsOfLongTermDebt $175.00M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividends $75.00M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividends $80.00M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfOtherEquity $100.00M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfOtherEquity $75.00M USD 1 Quarter
Proceeds from stock option exercises and other items, net ProceedsFromIssuanceOrSaleOfEquity $-3.00M USD 1 Quarter
Proceeds from stock option exercises and other items, net ProceedsFromIssuanceOrSaleOfEquity $2.00M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $102.00M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $116.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-2.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents - USD 1 Quarter
Net change in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $16.00M USD 1 Quarter
Net change in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $3.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $197.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $181.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $191.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $194.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $197.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $181.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $191.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $194.00M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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