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10-Q Filing

EASTMAN CHEMICAL CO CIK: 915389 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000915389-22-000023
Period End Date 20220331
Filing Date 20220504
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance emn-20220331_htm.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $540.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $564.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $487.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $459.00M USD Point-in-time
Trade receivables, net of allowance for doubtful accounts AccountsReceivableNetCurrent $1.19B USD Point-in-time
Trade receivables, net of allowance for doubtful accounts AccountsReceivableNetCurrent $1.09B USD Point-in-time
Miscellaneous receivables OtherReceivables $461.00M USD Point-in-time
Miscellaneous receivables OtherReceivables $489.00M USD Point-in-time
Inventories InventoryNet $1.67B USD Point-in-time
Inventories InventoryNet $1.50B USD Point-in-time
Other current assets OtherAssetsCurrent $96.00M USD Point-in-time
Other current assets OtherAssetsCurrent $93.00M USD Point-in-time
Assets held for sale DisposalGroupIncludingDiscontinuedOperationAssetsCurrentNetOfValuationLossForFairValueAdjustment $1.03B USD Point-in-time
Assets held for sale DisposalGroupIncludingDiscontinuedOperationAssetsCurrentNetOfValuationLossForFairValueAdjustment $1.01B USD Point-in-time
Total current assets AssetsCurrent $4.65B USD Point-in-time
Total current assets AssetsCurrent $4.93B USD Point-in-time
Properties and equipment at cost PropertyPlantAndEquipmentGross $12.68B USD Point-in-time
Properties and equipment at cost PropertyPlantAndEquipmentGross $12.75B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $7.68B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $7.76B USD Point-in-time
Net properties PropertyPlantAndEquipmentNet $5.00B USD Point-in-time
Net properties PropertyPlantAndEquipmentNet $5.00B USD Point-in-time
Goodwill Goodwill $3.67B USD Point-in-time
Goodwill Goodwill $3.64B USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $1.36B USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $1.30B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $912.00M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $874.00M USD Point-in-time
Total assets Assets $15.81B USD Point-in-time
Total assets Assets $15.52B USD Point-in-time
Payables and other current liabilities AccountsPayableAndAccruedLiabilitiesCurrent $2.05B USD Point-in-time
Payables and other current liabilities AccountsPayableAndAccruedLiabilitiesCurrent $2.13B USD Point-in-time
Borrowings due within one year ShortTermBorrowings $984.00M USD Point-in-time
Borrowings due within one year ShortTermBorrowings $747.00M USD Point-in-time
Liabilities held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $99.00M USD Point-in-time
Liabilities held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $91.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.14B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.97B USD Point-in-time
Long-term borrowings LongTermDebtNoncurrent $4.41B USD Point-in-time
Long-term borrowings LongTermDebtNoncurrent $4.38B USD Point-in-time
Deferred income tax liabilities DeferredIncomeTaxLiabilitiesNet $795.00M USD Point-in-time
Deferred income tax liabilities DeferredIncomeTaxLiabilitiesNet $810.00M USD Point-in-time
Post-employment obligations PostemploymentBenefitsLiabilityNoncurrent $799.00M USD Point-in-time
Post-employment obligations PostemploymentBenefitsLiabilityNoncurrent $811.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $720.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $727.00M USD Point-in-time
Total liabilities Liabilities $9.73B USD Point-in-time
Total liabilities Liabilities $9.83B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 221.81M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 222.27M shares Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock ($0.01 par value 350,000,000 shares authorized; shares issued 222,271,829 and 221,809,309 for 2022 and 2021, respectively) CommonStockValue $2.00M USD Point-in-time
Common stock ($0.01 par value 350,000,000 shares authorized; shares issued 222,271,829 and 221,809,309 for 2022 and 2021, respectively) CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.26B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.19B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $8.69B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $8.08B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $8.56B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $8.26B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-145.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-182.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-273.00M USD Point-in-time
Stockholder's Equity before Treasury Stock StockholdersEquityBeforeTreasuryStock $10.56B USD Point-in-time
Stockholder's Equity before Treasury Stock StockholdersEquityBeforeTreasuryStock $10.81B USD Point-in-time
Less: Treasury stock at cost (93,440,264 and 92,892,229 shares for 2022 and 2021, respectively) TreasuryStockValue $4.86B USD Point-in-time
Less: Treasury stock at cost (93,440,264 and 92,892,229 shares for 2022 and 2021, respectively) TreasuryStockValue $4.92B USD Point-in-time
Total Eastman stockholders' equity StockholdersEquity $5.89B USD Point-in-time
Total Eastman stockholders' equity StockholdersEquity $5.70B USD Point-in-time
Noncontrolling interest MinorityInterest $84.00M USD Point-in-time
Noncontrolling interest MinorityInterest $84.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $6.11B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.98B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $6.32B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.79B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $15.52B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $15.81B USD Point-in-time
Treasury stock at cost (in shares) TreasuryStockShares 93.44M shares Point-in-time
Treasury stock at cost (in shares) TreasuryStockShares 92.89M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 350.00M shares Point-in-time
Income Statement 68 line items
Line Item Tag Value Unit Period
Sales Revenues $2.71B USD 1 Quarter
Sales Revenues $2.41B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $2.16B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.81B USD 1 Quarter
Gross profit GrossProfit $598.00M USD 1 Quarter
Gross profit GrossProfit $550.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $196.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $184.00M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $58.00M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $65.00M USD 1 Quarter
Asset impairments and restructuring charges, net RestructuringSettlementAndImpairmentProvisions $2.00M USD 1 Quarter
Asset impairments and restructuring charges, net RestructuringSettlementAndImpairmentProvisions $7.00M USD 1 Quarter
Other components of post-employment (benefit) cost, net PensionAndOtherPostretirementBenefitExpense $-36.00M USD 1 Quarter
Other components of post-employment (benefit) cost, net PensionAndOtherPostretirementBenefitExpense $-31.00M USD 1 Quarter
Other (income) charges, net NonoperatingIncomeExpense $12.00M USD 1 Quarter
Other (income) charges, net NonoperatingIncomeExpense $4.00M USD 1 Quarter
Gain on divested business GainLossOnSaleOfBusiness $3.00M USD 1 Quarter
Gain on divested business GainLossOnSaleOfBusiness - USD 1 Quarter
Earnings before interest and taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $333.00M USD 1 Quarter
Earnings before interest and taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $389.00M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-46.00M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-50.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $287.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $339.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $51.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $62.00M USD 1 Quarter
Net earnings ProfitLoss $277.00M USD 1 Quarter
Net earnings ProfitLoss $236.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $3.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Net earnings attributable to Eastman NetIncomeLoss $235.00M USD 1 Quarter
Net earnings attributable to Eastman NetIncomeLoss $274.00M USD 1 Quarter
Basic earnings per share attributable to Eastman EarningsPerShareBasic $1.82 USD 1 Quarter
Basic earnings per share attributable to Eastman EarningsPerShareBasic $2.01 USD 1 Quarter
Diluted earnings per share attributable to Eastman EarningsPerShareDiluted $1.80 USD 1 Quarter
Diluted earnings per share attributable to Eastman EarningsPerShareDiluted $1.99 USD 1 Quarter
Net earnings including noncontrolling interest ProfitLoss $277.00M USD 1 Quarter
Net earnings including noncontrolling interest ProfitLoss $236.00M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.00M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $56.00M USD Annual
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $7.00M USD 1 Quarter
Amortization of unrecognized prior service credits OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-7.00M USD 1 Quarter
Amortization of unrecognized prior service credits OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-6.00M USD 1 Quarter
Unrealized gain (loss) during period OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $40.00M USD 1 Quarter
Unrealized gain (loss) during period OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $25.00M USD 1 Quarter
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $4.00M USD 1 Quarter
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $-5.00M USD 1 Quarter
Other Comprehensive Income (Loss) OtherComprehensiveIncomeLossNetOfTax $37.00M USD 1 Quarter
Other Comprehensive Income (Loss) OtherComprehensiveIncomeLossNetOfTax $25.00M USD 1 Quarter
Other Comprehensive Income (Loss) OtherComprehensiveIncomeLossNetOfTax $91.00M USD Annual
Comprehensive income including noncontrolling interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $273.00M USD 1 Quarter
Comprehensive income including noncontrolling interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $302.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $3.00M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Comprehensive income (loss) attributable to Eastman ComprehensiveIncomeNetOfTax $272.00M USD 1 Quarter
Comprehensive income (loss) attributable to Eastman ComprehensiveIncomeNetOfTax $299.00M USD 1 Quarter
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $8.69B USD Point-in-time
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $8.08B USD Point-in-time
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $8.56B USD Point-in-time
Retained earnings at beginning of period RetainedEarningsAccumulatedDeficit $8.26B USD Point-in-time
Net earnings attributable to Eastman NetIncomeLoss $235.00M USD 1 Quarter
Net earnings attributable to Eastman NetIncomeLoss $274.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $94.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $98.00M USD 1 Quarter
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $8.69B USD Point-in-time
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $8.08B USD Point-in-time
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $8.56B USD Point-in-time
Retained earnings at end of period RetainedEarningsAccumulatedDeficit $8.26B USD Point-in-time
Cash Flow Statement 52 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $277.00M USD 1 Quarter
Net earnings ProfitLoss $236.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $121.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $149.00M USD 1 Quarter
Gain on divested business GainLossOnSaleOfBusiness $3.00M USD 1 Quarter
Gain on divested business GainLossOnSaleOfBusiness - USD 1 Quarter
Provision for (benefit from) deferred income taxes DeferredIncomeTaxExpenseBenefit $-24.00M USD 1 Quarter
Provision for (benefit from) deferred income taxes DeferredIncomeTaxExpenseBenefit $2.00M USD 1 Quarter
(Increase) decrease in trade receivables IncreaseDecreaseInAccountsReceivable $127.00M USD 1 Quarter
(Increase) decrease in trade receivables IncreaseDecreaseInAccountsReceivable $211.00M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $184.00M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $144.00M USD 1 Quarter
Increase (decrease) in trade payables IncreaseDecreaseInAccountsPayableTrade $152.00M USD 1 Quarter
Increase (decrease) in trade payables IncreaseDecreaseInAccountsPayableTrade $197.00M USD 1 Quarter
Pension and other postretirement contributions (in excess of) less than expenses PensionAndOtherPostretirementBenefitsContributionsInExcessOfLessThanExpenses $43.00M USD 1 Quarter
Pension and other postretirement contributions (in excess of) less than expenses PensionAndOtherPostretirementBenefitsContributionsInExcessOfLessThanExpenses $53.00M USD 1 Quarter
Variable compensation (in excess of) less than expenses VariableCashCompensationInExcessOfLessThanExpenses $168.00M USD 1 Quarter
Variable compensation (in excess of) less than expenses VariableCashCompensationInExcessOfLessThanExpenses $78.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $57.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $77.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $17.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $216.00M USD 1 Quarter
Additions to properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $112.00M USD 1 Quarter
Additions to properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $91.00M USD 1 Quarter
Additions to capitalized software PaymentsForSoftware $6.00M USD 1 Quarter
Additions to capitalized software PaymentsForSoftware $3.00M USD 1 Quarter
Other items, net PaymentsForProceedsFromOtherInvestingActivities $2.00M USD 1 Quarter
Other items, net PaymentsForProceedsFromOtherInvestingActivities $2.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-117.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-99.00M USD 1 Quarter
Net increase (decrease) in commercial paper and other borrowings ProceedsFromRepaymentsOfShortTermDebt $-25.00M USD 1 Quarter
Net increase (decrease) in commercial paper and other borrowings ProceedsFromRepaymentsOfShortTermDebt $236.00M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividends $98.00M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividends $94.00M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfOtherEquity $40.00M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfOtherEquity - USD 1 Quarter
Proceeds from stock option exercises and other items, net ProceedsFromPaymentsForOtherFinancingActivities $22.00M USD 1 Quarter
Proceeds from stock option exercises and other items, net ProceedsFromPaymentsForOtherFinancingActivities $-9.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-137.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $129.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-1.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-4.00M USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $28.00M USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-24.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $540.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $564.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $487.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $459.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $540.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $564.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $487.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $459.00M USD Point-in-time

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

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