EASTMAN CHEMICAL CO

Listed Company

EMNCIK 0000915389NYSELarge AcceleratedPlastic Materials, Synth Resins & Nonvulcan ElastomersDelawareFY ends Dec 31

Period

FY 2025

Revenue

$8.75B

Net Income

$474.00M

Total Assets

$14.86B

Equity

$5.96B

Shares Out

114.10M

Op. Cash Flow

$970.00M

Business

EASTMAN CHEMICAL CO is a global specialty materials company that develops, manufactures, and supplies engineered chemical and polymer products for diverse industrial and consumer applications. The Company offers differentiated polymers, copolyesters and cellulosic biopolymers, performance and protective films, additives and functional chemicals, chemical intermediates, and fibers, plus molecular recycling and application development services marketed under Renew and other brands. Its operations are organized into four reporting segments: Advanced Materials, Additives & Functional Products, Chemical Intermediates, and Fibers. Eastman sells worldwide through a global direct sales force, dealers and distribution centers into end markets including transportation, building and construction, consumables, personal care, health and wellness, agriculture, and industrial applications.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	8,752	9,382	9,210	10,580	10,476
Cost of sales	6,908	7,092	7,149	8,443	7,976
Gross profit	1,844	2,290	2,061	2,137	2,500
Selling, general and administrative expenses	658	736	727	726	795
Research and development expenses	255	250	239	264	254
Asset impairments, restructuring, and other charges, net	96	51	37	52	47
Other components of post-employment (benefit) cost, net	−25	−72	41	−101	−412
Other (income) charges, net	84	47	38	−6	−17
Gain on divested business	0	0	−323	43	552
Earnings before interest and taxes	776	1,278	1,302	1,159	1,281
Net interest expense	208	200	215	182	198
Earnings before income taxes	568	1,078	1,087	977	1,082
Provision for income taxes	93	170	191	181	215
Net earnings	475	908	896	796	867
Less: Net earnings attributable to noncontrolling interest	1	3	2	3	10
Net earnings attributable to Eastman	474	905	894	793	857
Basic earnings per share attributable to Eastman	4.14	7.75	7.54	6.42	6.35
Diluted earnings per share attributable to Eastman	4.1	7.67	7.49	6.35	6.25
Change in cumulative translation adjustment	34	−20	−67	7	56
Prior service credit arising during the period	157	0	0	0	0
Amortization of unrecognized prior service credits included in net periodic costs	−8	−8	−21	27	−28
Unrealized gain (loss) during period	−44	18	−27	53	66
Reclassification adjustment for (gains) losses included in net income, net	15	15	1	−56	−3
Total other comprehensive income (loss), net of tax	154	5	−114	−23	91
Comprehensive income including noncontrolling interest	629	913	782	773	958
Comprehensive income attributable to Eastman	628	910	780	770	948
Cash dividends declared	−382	−382	−377	−377	−380

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	566	837	548	493	459
Trade receivables, net of allowance for credit losses	737	791	826	957	1,091
Miscellaneous receivables	262	381	328	320	489
Inventories	1,980	1,988	1,683	1,894	1,504
Other current assets	100	104	96	114	96
Total current assets	3,645	4,101	3,481	3,778	4,646
Properties and equipment at cost	14,507	13,985	13,574	12,942	12,680
Less: Accumulated depreciation	8,776	8,370	8,026	7,782	7,684
Net properties	5,731	5,615	5,548	5,160	4,996
Goodwill	3,665	3,632	3,646	3,664	3,641
Intangible assets, net of accumulated amortization	970	1,032	1,138	1,210	1,362
Other noncurrent assets	848	833	820	855	874
Total assets	14,859	15,213	14,633	14,667	15,519
Payables and other current liabilities	2,066	2,258	2,035	2,125	2,133
Borrowings due within one year	586	450	541	1,126	747
Total current liabilities	2,652	2,708	2,576	3,251	2,971
Long-term borrowings	4,201	4,567	4,305	4,025	4,412
Deferred income tax liabilities	669	533	601	671	810
Post-employment obligations	409	630	667	628	811
Other long-term liabilities	891	923	954	856	727
Total liabilities	8,822	9,361	9,103	9,431	9,731
Common stock, shares issued (in shares)	224	224	223	222	222
Common Stock, Shares Authorized	350	350	350	350	350
Common stock, par value (in dollars per share)	0.01	0.01	0.01	0.01	0.01
Common stock ($0.01 par value per share 350,000,000 shares authorized; shares issued 223,938,047 and 223,588,347 on December 31, 2025 and 2024, respectively)	2	2	2	2	2
Additional paid-in capital	2,500	2,463	2,368	2,315	2,187
Accumulated other comprehensive loss	−160	−314	−319	−205	−182
Total stockholders' equity before treasury stock	12,447	12,164	11,541	11,085	10,564
Treasury stock at cost (in shares)	110	108	105	104	—
Less: Treasury stock at cost (109,891,531 and 108,470,763 shares on December 31, 2025 and 2024, respectively)	6,486	6,385	6,083	5,932	4,860
Total Eastman stockholders' equity	5,961	5,779	5,458	5,153	5,704
Noncontrolling interest	76	73	72	83	84
Total equity	6,037	5,852	5,530	5,236	5,788
Total liabilities and stockholders' equity	14,859	15,213	14,633	14,667	15,519

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	513	509	498	477	538
Mark-to-market pension and other postretirement benefit plans (gain) loss, net	−6	−54	53	19	−267
Asset impairment charges	33	5	0	0	16
Gain on sale of assets	0	0	−15	15	0
Provision for (benefit from) deferred income taxes	141	−52	−102	−136	−38
(Increase) decrease in trade receivables	61	28	126	93	−281
(Increase) decrease in inventories	24	−344	201	−430	−389
Increase (decrease) in trade payables	−76	188	−190	60	554
Pension and other postretirement contributions (in excess of) less than expenses	−60	−51	−66	−149	−185
Variable compensation payments (in excess of) less than expenses	−22	99	142	−103	162
Other items, net	−113	51	154	290	89
Net cash provided by operating activities	970	1,287	1,374	975	1,619
Additions to properties and equipment	−546	−599	−828	−611	−555
Government incentives	21	9	0	0	—
Proceeds from sale of businesses	38	38	456	998	667
Acquisitions, net of cash acquired	0	0	−77	−1	−114
Other items, net	25	18	17	6	−4
Net cash used in investing activities	−462	−534	−432	392	−29
Net increase (decrease) in commercial paper and other borrowings	0	0	−326	326	−50
Proceeds from borrowings	246	1,237	796	500	0
Repayment of borrowings	−550	−1,039	−808	−750	−300
Dividends paid to stockholders	−381	−379	−376	−381	−375
Treasury stock purchases	−100	−300	−150	−1,002	−1,000
Other items, net	−12	27	−24	−14	35
Net cash used in financing activities	−797	−454	−888	−1,321	−1,690
Effect of exchange rate changes on cash and cash equivalents	18	−10	1	−12	−5
Net change in cash and cash equivalents	−271	289	55	34	−105

Filings

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