EASTMAN CHEMICAL COEMN
EASTMAN CHEMICAL CO Segments Disclosure
SEGMENT AND REGIONAL SALES INFORMATION
Eastman's products and operations are managed and reported in four operating segments: Advanced Materials ("AM"), Additives & Functional Products ("AFP"), Chemical Intermediates ("CI"), and Fibers. The economic factors that impact the nature, amount, timing, and uncertainty of revenue and cash flows vary among the Company's operating segments and the geographical regions in which they operate. "Other" includes sales and costs related to growth initiatives, including the cellulosics biopolymer and circular economy platforms, research and development ("R&D") costs, certain components of pension and other postretirement benefits, and other expenses and income not identifiable to an operating segment and is not included in operating segment results. This operating segment structure is used by the Chief Operating Decision Maker ("CODM"), who has been determined to be the Chief Executive Officer, to make key operating decisions and assess performance of the Company. The CODM evaluates segment operating performance, and makes resource allocation and performance evaluation decisions, based on Adjusted EBIT, defined as the GAAP measure earnings before interest and taxes ("EBIT"), adjusted for non-core, unusual, or non-recurring items. These adjustments allow the CODM to evaluate segment operating performance excluding the effect of transactions, costs, and losses or gains that do not directly result from Eastman's normal, or "core", business and operations, or are otherwise of an unusual or non-recurring nature.
Advanced Materials Segment
In the AM segment, the Company produces and markets polymers, films, and plastics with differentiated performance properties for value-added end-uses in transportation; durables and electronics; building and construction; medical and pharma; and consumables end-markets.
The advanced interlayers product line includes polyvinyl butyral sheet and polyvinyl butyral intermediates. The performance films product line primarily consists of window films and protective films products for aftermarket applied films. The specialty plastics product line consists of two primary products: copolyesters and cellulosic biopolymers.
| Percentage of Total Segment Sales | |||||||||||
| Product Lines | 2025 | 2024 | 2023 | ||||||||
| Advanced interlayers | 32% | 33% | 34% | ||||||||
| Performance films | 19% | 20% | 21% | ||||||||
| Specialty plastics | 49% | 47% | 45% | ||||||||
| Total | 100% | 100% | 100% | ||||||||
| Percentage of Total Segment Sales | |||||||||||
| Sales by Customer Location | 2025 | 2024 | 2023 | ||||||||
| United States and Canada | 33% | 31% | 32% | ||||||||
| Asia Pacific | 36% | 37% | 35% | ||||||||
| Europe, Middle East, and Africa | 25% | 26% | 27% | ||||||||
| Latin America | 6% | 6% | 6% | ||||||||
| Total | 100% | 100% | 100% | ||||||||
Additives & Functional Products Segment
In the AFP segment, the Company manufactures materials for products in the food, feed, and agriculture; transportation; water treatment and energy; personal care and wellness; building and construction; consumables; and durables and electronics end-markets.
The care additives product line consists of amine derivative-based building blocks for the production of flocculants, intermediates for surfactants, fumigants, fungicides, plant growth regulators and organic acid-based solutions. The coatings additives product line can be broadly classified as polymers and additives and solvents and includes specialty coalescents, specialty solvents, paint additives, and specialty polymers. The functional amines product lines include methylamines and salts, and higher amines and solvents. In the specialty fluids product line, the Company produces heat transfer and aviation fluids products.
| Percentage of Total Segment Sales | |||||||||||
| Product Lines | 2025 | 2024 | 2023 | ||||||||
| Care additives | 38% | 37% | 37% | ||||||||
| Coatings additives | 27% | 28% | 27% | ||||||||
| Functional amines | 19% | 19% | 18% | ||||||||
| Specialty fluids and energy | 16% | 16% | 18% | ||||||||
| Total | 100% | 100% | 100% | ||||||||
| Percentage of Total Segment Sales | |||||||||||
| Sales by Customer Location | 2025 | 2024 | 2023 | ||||||||
| United States and Canada | 43% | 43% | 42% | ||||||||
| Asia Pacific | 19% | 21% | 21% | ||||||||
| Europe, Middle East, and Africa | 31% | 30% | 31% | ||||||||
| Latin America | 7% | 6% | 6% | ||||||||
| Total | 100% | 100% | 100% | ||||||||
Chemical Intermediates Segment
Eastman leverages large scale and vertical integration from the cellulosic biopolymers and acetyl and olefins streams to support the Company's specialty operating segments with advantaged cost positions. The CI segment sells excess intermediates beyond the Company's internal specialty needs into end-markets such as industrial chemicals and processing, building and construction, health and wellness, and food and feed.
The intermediates product line produces olefin derivatives, acetyl derivatives, ethylene, and commodity solvents. The plasticizers product line consists of a unique set of primary non-phthalate and phthalate plasticizers and a range of targeted non-phthalate plasticizers.
| Percentage of Total Segment Sales | |||||||||||
| Product Lines | 2025 | 2024 | 2023 | ||||||||
| Intermediates | 76% | 75% | 78% | ||||||||
| Plasticizers | 24% | 25% | 22% | ||||||||
| Total | 100% | 100% | 100% | ||||||||
| Percentage of Total Segment Sales | |||||||||||
| Sales by Customer Location | 2025 | 2024 | 2023 | ||||||||
| United States and Canada | 71% | 70% | 71% | ||||||||
| Asia Pacific | 7% | 7% | 8% | ||||||||
| Europe, Middle East, and Africa | 17% | 18% | 17% | ||||||||
| Latin America | 5% | 5% | 4% | ||||||||
| Total | 100% | 100% | 100% | ||||||||
Fibers Segment
In the Fibers segment, Eastman manufactures and sells acetate tow and triacetin plasticizers for use in filtration media, primarily cigarette filters; cellulosic filament yarn and staple fibers for use in apparel under the brand Naia™, home furnishings, and industrial fabrics; nonwoven media for use in filtration and friction applications, used primarily in transportation, industrial, and agricultural end-markets; and cellulose acetate flake and acetyl raw materials for other acetate fiber producers.
| Percentage of Total Segment Sales | |||||||||||
| Product Lines | 2025 | 2024 | 2023 | ||||||||
| Acetate tow | 69% | 69% | 70% | ||||||||
| Acetate yarn and fiber | 11% | 13% | 11% | ||||||||
| Acetyl chemical products | 14% | 13% | 14% | ||||||||
| Nonwovens | 6% | 5% | 5% | ||||||||
| Total | 100% | 100% | 100% | ||||||||
| Percentage of Total Segment Sales | |||||||||||
| Sales by Customer Location | 2025 | 2024 | 2023 | ||||||||
| United States and Canada | 23% | 21% | 21% | ||||||||
| Asia Pacific | 37% | 36% | 35% | ||||||||
| Europe, Middle East, and Africa | 36% | 41% | 42% | ||||||||
| Latin America | 4% | 2% | 2% | ||||||||
| Total | 100% | 100% | 100% | ||||||||
For year ended December 31, 2025 | |||||||||||||||||||||||||||||
| (Dollars in millions) | Advanced Materials | Additives & Functional Products | Chemical Intermediates | Fibers | Total Operating Segments | ||||||||||||||||||||||||
| Sales | $ | 2,880 | $ | 2,880 | $ | 1,925 | $ | 1,050 | $ | 8,735 | |||||||||||||||||||
| Cost of sales | 2,193 | 2,129 | 1,841 | 686 | $ | 6,849 | |||||||||||||||||||||||
| Selling, general and administrative expenses | 262 | 180 | 97 | 65 | $ | 604 | |||||||||||||||||||||||
Other segment items (1) | 76 | 55 | 25 | 14 | $ | 170 | |||||||||||||||||||||||
Adjusted EBIT | 349 | 516 | (38) | 285 | 1,112 | ||||||||||||||||||||||||
| Reconciliation of segment Adjusted EBIT to consolidated earnings before income taxes ("EBT"): | |||||||||||||||||||||||||||||
Other adjusted EBIT (2) | (182) | ||||||||||||||||||||||||||||
| Non-core items impacting EBIT | |||||||||||||||||||||||||||||
Cost of sales impact from restructuring activities (3) | (2) | ||||||||||||||||||||||||||||
Asset impairments, restructuring, and other charges, net (3) | (96) | ||||||||||||||||||||||||||||
Mark-to-market pension and other postretirement benefits gain (loss), net (4) | 6 | ||||||||||||||||||||||||||||
Environmental and other costs (5) | (62) | ||||||||||||||||||||||||||||
| Net interest expense | (208) | ||||||||||||||||||||||||||||
| Consolidated EBT | $ | 568 | |||||||||||||||||||||||||||
For year ended December 31, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Advanced Materials | Additives & Functional Products | Chemical Intermediates | Fibers | Total Operating Segments | Other | Total Consolidated | |||||||||||||||||||||||||||||||||||
| Depreciation and amortization expense | $ | 205 | $ | 143 | $ | 97 | $ | 64 | $ | 509 | $ | 4 | $ | 513 | |||||||||||||||||||||||||||
| Capital expenditures | 332 | 78 | 77 | 37 | 524 | 22 | 546 | ||||||||||||||||||||||||||||||||||
Assets (6) | 5,705 | 4,668 | 1,646 | 1,020 | 13,039 | 1,820 | 14,859 | ||||||||||||||||||||||||||||||||||
(1)Other segment items for each reportable segment includes research and development expenses, other components of post-employment (benefit) cost, net, and other (income) charges, net.
(2)Other is not considered an operating segment. Other includes sales and costs from growth initiatives and businesses, R&D costs, pension and other postretirement benefit plans income (expense), net, and other income (charges), net that are not identifiable to an operating segment.
(3)See Note 16, "Asset Impairments, Restructuring, and Other Charges, Net", for a description of included items.
(4)Actuarial gains and losses resulting from the changes in discount rates and other actuarial assumptions and the difference between actual and expected returns on plan assets during the period.
(5)Environmental and other costs from previously divested businesses, non-operational sites and product lines, and discontinued programs.
(6)Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets.
For year ended December 31, 2024 | |||||||||||||||||||||||||||||
| (Dollars in millions) | Advanced Materials | Additives & Functional Products | Chemical Intermediates | Fibers | Total Operating Segments | ||||||||||||||||||||||||
| Sales | $ | 3,050 | $ | 2,862 | $ | 2,134 | $ | 1,318 | $ | 9,364 | |||||||||||||||||||
| Cost of sales | 2,215 | 2,107 | 1,901 | 775 | $ | 6,998 | |||||||||||||||||||||||
| Selling, general and administrative expenses | 292 | 204 | 112 | 74 | $ | 682 | |||||||||||||||||||||||
Other segment items (1) | 79 | 61 | 20 | 15 | $ | 175 | |||||||||||||||||||||||
Adjusted EBIT | 464 | 490 | 101 | 454 | 1,509 | ||||||||||||||||||||||||
Reconciliation of segment Adjusted EBIT to consolidated EBT: | |||||||||||||||||||||||||||||
Other adjusted EBIT (2) | (211) | ||||||||||||||||||||||||||||
| Non-core items impacting EBIT | |||||||||||||||||||||||||||||
Cost of sales impact from restructuring activities (3) | (7) | ||||||||||||||||||||||||||||
Asset impairments, restructuring, and other charges, net (3) | (51) | ||||||||||||||||||||||||||||
Mark-to-market pension and other postretirement benefits gain (loss), net (4) | 54 | ||||||||||||||||||||||||||||
Environmental and other costs (5) | (16) | ||||||||||||||||||||||||||||
| Net interest expense | (200) | ||||||||||||||||||||||||||||
| Consolidated EBT | $ | 1,078 | |||||||||||||||||||||||||||
For year ended December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||
| Advanced Materials | Additives & Functional Products | Chemical Intermediates | Fibers | Total Operating Segments | Other | Total Consolidated | |||||||||||||||||||||||||||||||||||
| Depreciation and amortization expense | $ | 194 | $ | 146 | $ | 99 | $ | 64 | $ | 503 | $ | 6 | $ | 509 | |||||||||||||||||||||||||||
| Capital expenditures | 403 | 68 | 65 | 42 | 578 | 21 | 599 | ||||||||||||||||||||||||||||||||||
Assets (6) | 5,735 | 4,608 | 1,586 | 1,075 | 13,004 | 2,209 | 15,213 | ||||||||||||||||||||||||||||||||||
(1)Other segment items for each reportable segment includes research and development expenses, other components of post-employment (benefit) cost, net, and other (income) charges, net.
(2)Other is not considered an operating segment. Other includes sales and costs from growth initiatives and businesses, R&D costs, pension and other postretirement benefit plans income (expense), net, and other income (charges), net that are not identifiable to an operating segment.
(3)See Note 16, "Asset Impairments, Restructuring, and Other Charges, Net", for a description of included items.
(4)Actuarial gains and losses resulting from the changes in discount rates and other actuarial assumptions and the difference between actual and expected returns on plan assets during the period.
(5)Environmental and other costs from previously divested businesses, non-operational sites and product lines, and discontinued programs.
(6)Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets.
For year ended December 31, 2023 | |||||||||||||||||||||||||||||
| (Dollars in millions) | Advanced Materials | Additives & Functional Products | Chemical Intermediates | Fibers | Total Operating Segments | ||||||||||||||||||||||||
| Sales | $ | 2,932 | $ | 2,834 | $ | 2,143 | $ | 1,295 | $ | 9,204 | |||||||||||||||||||
| Cost of sales | 2,221 | 2,140 | 1,895 | 789 | 7,045 | ||||||||||||||||||||||||
| Selling, general and administrative expenses | 295 | 200 | 119 | 72 | 686 | ||||||||||||||||||||||||
Other segment items (1) | 73 | 58 | 18 | 12 | 161 | ||||||||||||||||||||||||
Adjusted EBIT | 343 | 436 | 111 | 422 | 1,312 | ||||||||||||||||||||||||
Reconciliation of segment Adjusted EBIT to consolidated EBT: | |||||||||||||||||||||||||||||
Other adjusted EBIT (2) | (215) | ||||||||||||||||||||||||||||
| Non-core items impacting EBIT | |||||||||||||||||||||||||||||
Cost of sales impact from restructuring activities (3) | (23) | ||||||||||||||||||||||||||||
Asset impairments, restructuring, and other charges, net (3) | (37) | ||||||||||||||||||||||||||||
Mark-to-market pension and other postretirement benefits gain (loss), net (4) | (53) | ||||||||||||||||||||||||||||
Environmental and other costs (5) | (13) | ||||||||||||||||||||||||||||
Net gain on divested business(6) | 323 | ||||||||||||||||||||||||||||
| Unusual items impacting EBIT | |||||||||||||||||||||||||||||
Steam line incident insurance proceeds (7) | 8 | ||||||||||||||||||||||||||||
| Net interest expense | (215) | ||||||||||||||||||||||||||||
| Consolidated EBT | $ | 1,087 | |||||||||||||||||||||||||||
For year ended December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||
| Advanced Materials | Additives & Functional Products | Chemical Intermediates | Fibers | Total Operating Segments | Other | Total Consolidated | |||||||||||||||||||||||||||||||||||
| Depreciation and amortization expense | $ | 161 | $ | 143 | $ | 103 | $ | 86 | $ | 493 | $ | 5 | $ | 498 | |||||||||||||||||||||||||||
| Capital expenditures | 608 | 88 | 68 | 36 | 800 | 28 | 828 | ||||||||||||||||||||||||||||||||||
(1)Other segment items for each reportable segment includes research and development expenses, other components of post-employment (benefit) cost, net, and other (income) charges, net.
(2)Other is not considered an operating segment. Other includes sales and costs from growth initiatives and businesses, R&D costs, pension and other postretirement benefit plans income (expense), net, and other income (charges), net that are not identifiable to an operating segment.
(3)See Note 16, "Asset Impairments, Restructuring, and Other Charges, Net", for a description of included items.
(4)Actuarial gains and losses resulting from the changes in discount rates and other actuarial assumptions and the difference between actual and expected returns on plan assets during the period.
(5)Environmental and other costs from previously divested businesses, non-operational sites and product lines, and discontinued programs.
(6)Sale of the Company's operations in Texas City, Texas (excluding the plasticizers operations). See Note 2, "Divestitures", for a description of the transaction.
(7)From the previously reported operational incident at the Kingsport site as a result of a steam line failure (the "steam line incident").
| For years ended December 31, | |||||||||||||||||
| (Dollars in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Sales by Segment | |||||||||||||||||
| Advanced Materials | $ | 2,880 | $ | 3,050 | $ | 2,932 | |||||||||||
Additives & Functional Products | 2,880 | 2,862 | 2,834 | ||||||||||||||
Chemical Intermediates | 1,925 | 2,134 | 2,143 | ||||||||||||||
| Fibers | 1,050 | 1,318 | 1,295 | ||||||||||||||
| Total Sales by Operating Segment | 8,735 | 9,364 | 9,204 | ||||||||||||||
Other | 17 | 18 | 6 | ||||||||||||||
Consolidated Sales | $ | 8,752 | $ | 9,382 | $ | 9,210 | |||||||||||
Sales are attributed to geographic areas based on customer location.
| (Dollars in millions) | For years ended December 31, | ||||||||||||||||
| Geographic Information | 2025 | 2024 | 2023 | ||||||||||||||
| Sales | |||||||||||||||||
| United States | $ | 3,662 | $ | 3,773 | $ | 3,794 | |||||||||||
China | 950 | 1,073 | 974 | ||||||||||||||
All other foreign countries | 4,140 | 4,536 | 4,442 | ||||||||||||||
| Total | $ | 8,752 | $ | 9,382 | $ | 9,210 | |||||||||||
Long-lived assets are attributed to geographic areas based on asset location.
| December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Net properties | |||||||||||
| United States | $ | 4,642 | $ | 4,548 | |||||||
| All foreign countries | 1,089 | 1,067 | |||||||||
| Total | $ | 5,731 | $ | 5,615 | |||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 14, 2024 | |
| 2022 | Feb 15, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 22, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Feb 27, 2017 | |
| 2015 | Feb 25, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.