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10-Q Filing

EASTMAN CHEMICAL CO CIK: 915389 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000915389-19-000021
Period End Date 20190331
Filing Date 20190503
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance emn2019033110q_htm.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $195.00M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $226.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $191.00M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $194.00M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 350.00M shares Point-in-time
Trade receivables, net of allowance for doubtful accounts AccountsReceivableNetCurrent $1.30B USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 350.00M shares Point-in-time
Trade receivables, net of allowance for doubtful accounts AccountsReceivableNetCurrent $1.15B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 219.52M shares Point-in-time
Miscellaneous receivables OtherReceivables $285.00M USD Point-in-time
Miscellaneous receivables OtherReceivables $329.00M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 219.14M shares Point-in-time
Inventories InventoryNet $1.70B USD Point-in-time
Inventories InventoryNet $1.58B USD Point-in-time
Treasury stock at cost (in shares) TreasuryStockShares 81.00M shares Point-in-time
Treasury stock at cost (in shares) TreasuryStockShares 79.41M shares Point-in-time
Other current assets OtherAssetsCurrent $73.00M USD Point-in-time
Other current assets OtherAssetsCurrent $70.00M USD Point-in-time
Total current assets AssetsCurrent $3.55B USD Point-in-time
Total current assets AssetsCurrent $3.37B USD Point-in-time
Properties and equipment at cost PropertyPlantAndEquipmentGross $12.80B USD Point-in-time
Properties and equipment at cost PropertyPlantAndEquipmentGross $12.73B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $7.13B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $7.22B USD Point-in-time
Net properties PropertyPlantAndEquipmentNet $5.58B USD Point-in-time
Net properties PropertyPlantAndEquipmentNet $5.60B USD Point-in-time
Goodwill Goodwill $4.47B USD Point-in-time
Goodwill Goodwill $4.48B USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $2.13B USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $2.19B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $378.00M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $627.00M USD Point-in-time
Total assets Assets $15.99B USD Point-in-time
Total assets Assets $16.36B USD Point-in-time
Payables and other current liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.49B USD Point-in-time
Payables and other current liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.61B USD Point-in-time
Borrowings due within one year ShortTermBorrowings $862.00M USD Point-in-time
Borrowings due within one year ShortTermBorrowings $243.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.85B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.35B USD Point-in-time
Long-term borrowings LongTermDebtNoncurrent $5.60B USD Point-in-time
Long-term borrowings LongTermDebtNoncurrent $5.92B USD Point-in-time
Deferred income tax liabilities DeferredTaxLiabilitiesNoncurrent $892.00M USD Point-in-time
Deferred income tax liabilities DeferredTaxLiabilitiesNoncurrent $884.00M USD Point-in-time
Post-employment obligations PostemploymentBenefitsLiabilityNoncurrent $925.00M USD Point-in-time
Post-employment obligations PostemploymentBenefitsLiabilityNoncurrent $915.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $532.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $681.00M USD Point-in-time
Total liabilities Liabilities $10.44B USD Point-in-time
Total liabilities Liabilities $10.12B USD Point-in-time
Common stock ($0.01 par value 350,000,000 shares authorized; shares issued 219,523,859 and 219,140,523 for 2019 and 2018, respectively) CommonStockValue $2.00M USD Point-in-time
Common stock ($0.01 par value 350,000,000 shares authorized; shares issued 219,523,859 and 219,140,523 for 2019 and 2018, respectively) CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.06B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.05B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $6.80B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $7.57B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $7.67B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $7.03B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-245.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-194.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-209.00M USD Point-in-time
Stockholder's Equity before Treasury Stock StockholdersEquityBeforeTreasuryStock $9.38B USD Point-in-time
Stockholder's Equity before Treasury Stock StockholdersEquityBeforeTreasuryStock $9.54B USD Point-in-time
Less: Treasury stock at cost (80,996,065 shares for 2019 and 79,413,989 shares for 2018) TreasuryStockValue $3.58B USD Point-in-time
Less: Treasury stock at cost (80,996,065 shares for 2019 and 79,413,989 shares for 2018) TreasuryStockValue $3.70B USD Point-in-time
Total Eastman stockholders' equity StockholdersEquity $5.84B USD Point-in-time
Total Eastman stockholders' equity StockholdersEquity $5.80B USD Point-in-time
Noncontrolling interest MinorityInterest $76.00M USD Point-in-time
Noncontrolling interest MinorityInterest $75.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.48B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.92B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.62B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.88B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $15.99B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $16.36B USD Point-in-time
Income Statement 68 line items
Line Item Tag Value Unit Period
Sales Revenues $2.61B USD 1 Quarter
Sales Revenues $2.38B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $2.03B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.81B USD 1 Quarter
Gross profit GrossProfit $581.00M USD 1 Quarter
Gross profit GrossProfit $574.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $190.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $187.00M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $56.00M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $58.00M USD 1 Quarter
Asset impairments and restructuring charges, net RestructuringSettlementAndImpairmentProvisions $2.00M USD 1 Quarter
Asset impairments and restructuring charges, net RestructuringSettlementAndImpairmentProvisions $32.00M USD 1 Quarter
Other components of post-employment (benefit) cost, net PensionAndOtherPostretirementBenefitExpense $-21.00M 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 $2.00M USD 1 Quarter
Earnings before interest and taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $409.00M USD 1 Quarter
Earnings before interest and taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $320.00M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-56.00M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-59.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $264.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $350.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $55.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $60.00M USD 1 Quarter
Net earnings ProfitLoss $290.00M USD 1 Quarter
Net earnings ProfitLoss $209.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest - 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 $209.00M USD 1 Quarter
Basic earnings per share attributable to Eastman EarningsPerShareBasic $1.50 USD 1 Quarter
Basic earnings per share attributable to Eastman EarningsPerShareBasic $2.03 USD 1 Quarter
Diluted earnings per share attributable to Eastman EarningsPerShareDiluted $1.49 USD 1 Quarter
Diluted earnings per share attributable to Eastman EarningsPerShareDiluted $2.00 USD 1 Quarter
Net earnings including noncontrolling interest ProfitLoss $290.00M USD 1 Quarter
Net earnings including noncontrolling interest ProfitLoss $209.00M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $27.00M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $30.00M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-13.00M USD Annual
Amortization of unrecognized prior service credits OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-7.00M USD 1 Quarter
Amortization of unrecognized prior service credits OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-7.00M USD 1 Quarter
Unrealized gain (loss) during period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $10.00M 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 - USD 1 Quarter
Reclassification adjustment for (gains) losses included in net income, net OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $2.00M 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 $-36.00M USD Annual
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $31.00M USD 1 Quarter
Comprehensive income including noncontrolling interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $287.00M USD 1 Quarter
Comprehensive income including noncontrolling interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $240.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive income attributable to Eastman ComprehensiveIncomeNetOfTax $240.00M USD 1 Quarter
Comprehensive income attributable to Eastman ComprehensiveIncomeNetOfTax $287.00M USD 1 Quarter
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $6.80B USD Point-in-time
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $7.57B USD Point-in-time
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $7.67B USD Point-in-time
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $7.03B USD Point-in-time
Cumulative effect adjustment resulting from adoption of new accounting standards CumulativeEffectOnRetainedEarningsNetOfTax1 $-20.00M 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 $209.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $82.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $87.00M USD 1 Quarter
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $6.80B USD Point-in-time
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $7.57B USD Point-in-time
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $7.67B USD Point-in-time
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $7.03B USD Point-in-time
Cash Flow Statement 56 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $290.00M USD 1 Quarter
Net earnings ProfitLoss $209.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $152.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $155.00M USD 1 Quarter
Gain from property insurance InsuredEventGainLoss - USD 1 Quarter
Gain from property insurance InsuredEventGainLoss $50.00M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $11.00M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $4.00M USD 1 Quarter
(Increase) decrease in trade receivables IncreaseDecreaseInAccountsReceivable $223.00M USD 1 Quarter
(Increase) decrease in trade receivables IncreaseDecreaseInAccountsReceivable $149.00M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $122.00M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $80.00M USD 1 Quarter
Increase (decrease) in trade payables IncreaseDecreaseInAccountsPayableTrade $8.00M USD 1 Quarter
Increase (decrease) in trade payables IncreaseDecreaseInAccountsPayableTrade $-42.00M 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 $77.00M USD 1 Quarter
Variable compensation (in excess of) less than expenses VariableCashCompensationInExcessOfLessThanExpenses $77.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $-30.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $53.00M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-5.00M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-35.00M USD 1 Quarter
Additions to properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $106.00M USD 1 Quarter
Additions to properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $128.00M USD 1 Quarter
Proceeds from property insurance ProceedsFromInsuranceSettlementInvestingActivities - USD 1 Quarter
Proceeds from property insurance ProceedsFromInsuranceSettlementInvestingActivities $50.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $19.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-125.00M 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 $370.00M USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfLongTermDebt $275.00M USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfLongTermDebt $125.00M USD 1 Quarter
Repayment of borrowings RepaymentsOfLongTermDebt $175.00M USD 1 Quarter
Repayment of borrowings RepaymentsOfLongTermDebt $175.00M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividends $80.00M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividends $87.00M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfOtherEquity $125.00M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfOtherEquity $100.00M USD 1 Quarter
Other items, net ProceedsFromPaymentsForOtherFinancingActivities $-3.00M USD 1 Quarter
Other items, net ProceedsFromPaymentsForOtherFinancingActivities $-6.00M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $116.00M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $102.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents - USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-3.00M USD 1 Quarter
Net change in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $3.00M USD 1 Quarter
Net change in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-31.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $195.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $226.00M 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 $195.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $226.00M 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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