Consolidating Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2018

Consolidating Guarantor Financial Information [Abstract]

Schedule of Consolidating Statement of Operations

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENT OF OPERATIONS

	Three Months Ended March 31, 2018
	Parent Guarantor	Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net sales	—	—		600		1,554		(303	)	1,851
Cost of sales	—	—		(464	)	(1,178	)	306		(1,336	)
Gross profit	—	—		136		376		3		515
Selling, general and administrative expenses	—	—		(60	)	(87	)	—		(147	)
Amortization of intangible assets	—	—		(2	)	(4	)	—		(6	)
Research and development expenses	—	—		(8	)	(10	)	—		(18	)
Other (charges) gains, net	—	—		—		—		—		—
Foreign exchange gain (loss), net	—	—		—		(1	)	—		(1	)
Gain (loss) on disposition of businesses and assets, net	—	—		(2	)	2		—		—
Operating profit (loss)	—	—		64		276		3		343
Equity in net earnings (loss) of affiliates	363	360		267		53		(985	)	58
Non-operating pension and other postretirement employee benefit (expense) income	—	—		23		3		—		26
Interest expense	—	(5	)	(29	)	(9	)	10		(33	)
Interest income	—	8		2		2		(10	)	2
Dividend income - cost investments	—	—		—		32		—		32
Other income (expense), net	—	1		1		2		—		4
Earnings (loss) from continuing operations before tax	363	364		328		359		(982	)	432
Income tax (provision) benefit	—	(1	)	(37	)	(27	)	—		(65	)
Earnings (loss) from continuing operations	363	363		291		332		(982	)	367
Earnings (loss) from operation of discontinued operations	—	—		—		(2	)	—		(2	)
Income tax (provision) benefit from discontinued operations	—	—		—		—		—		—
Earnings (loss) from discontinued operations	—	—		—		(2	)	—		(2	)
Net earnings (loss)	363	363		291		330		(982	)	365
Net (earnings) loss attributable to noncontrolling interests	—	—		—		(2	)	—		(2	)
Net earnings (loss) attributable to Celanese Corporation	363	363		291		328		(982	)	363

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENT OF OPERATIONS

	Three Months Ended March 31, 2017 - As Adjusted (Note 2)
	Parent Guarantor	Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net sales	—	—		589		1,177		(295	)	1,471
Cost of sales	—	—		(445	)	(966	)	290		(1,121	)
Gross profit	—	—		144		211		(5	)	350
Selling, general and administrative expenses	—	—		(34	)	(69	)	—		(103	)
Amortization of intangible assets	—	—		(1	)	(3	)	—		(4	)
Research and development expenses	—	—		(7	)	(10	)	—		(17	)
Other (charges) gains, net	—	—		(6	)	(49	)	—		(55	)
Foreign exchange gain (loss), net	—	—		—		—		—		—
Gain (loss) on disposition of businesses and assets, net	—	—		(2	)	1		—		(1	)
Operating profit (loss)	—	—		94		81		(5	)	170
Equity in net earnings (loss) of affiliates	183	174		101		43		(454	)	47
Non-operating pension and other postretirement employee benefit (expense) income	—	—		20		2		—		22
Interest expense	—	(6	)	(23	)	(7	)	7		(29	)
Interest income	—	6		1		—		(7	)	—
Dividend income - cost investments	—	—		—		29		—		29
Other income (expense), net	—	—		—		1		—		1
Earnings (loss) from continuing operations before tax	183	174		193		149		(459	)	240
Income tax (provision) benefit	—	9		(63	)	1		(3	)	(56	)
Earnings (loss) from continuing operations	183	183		130		150		(462	)	184
Earnings (loss) from operation of discontinued operations	—	—		—		—		—		—
Income tax (provision) benefit from discontinued operations	—	—		—		—		—		—
Earnings (loss) from discontinued operations	—	—		—		—		—		—
Net earnings (loss)	183	183		130		150		(462	)	184
Net (earnings) loss attributable to noncontrolling interests	—	—		—		(1	)	—		(1	)
Net earnings (loss) attributable to Celanese Corporation	183	183		130		149		(462	)	183

Schedule of Consolidating Statements of Comprehensive Income (Loss)

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	Three Months Ended March 31, 2018
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net earnings (loss)	363		363		291		330		(982	)	365
Other comprehensive income (loss), net of tax
Foreign currency translation	49		49		63		74		(186	)	49
Gain (loss) on cash flow hedges	(1	)	(1	)	(1	)	(1	)	3		(1	)
Pension and postretirement benefits	1		1		1		1		(3	)	1
Total other comprehensive income (loss), net of tax	49		49		63		74		(186	)	49
Total comprehensive income (loss), net of tax	412		412		354		404		(1,168	)	414
Comprehensive (income) loss attributable to noncontrolling interests	—		—		—		(2	)	—		(2	)
Comprehensive income (loss) attributable to Celanese Corporation	412		412		354		402		(1,168	)	412

	Three Months Ended March 31, 2017
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net earnings (loss)	183		183		130		150		(462	)	184
Other comprehensive income (loss), net of tax
Foreign currency translation	28		28		30		39		(97	)	28
Gain (loss) on cash flow hedges	(2	)	(2	)	(2	)	(2	)	6		(2	)
Pension and postretirement benefits	5		5		4		6		(15	)	5
Total other comprehensive income (loss), net of tax	31		31		32		43		(106	)	31
Total comprehensive income (loss), net of tax	214		214		162		193		(568	)	215
Comprehensive (income) loss attributable to noncontrolling interests	—		—		—		(1	)	—		(1	)
Comprehensive income (loss) attributable to Celanese Corporation	214		214		162		192		(568	)	214

Schedule of Consolidating Balance Sheet

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATING BALANCE SHEET

	As of March 31, 2018
	Parent Guarantor	Issuer	Subsidiary Guarantors	Non- Guarantors	Eliminations		Consolidated
	(In $ millions)
ASSETS
Current Assets
Cash and cash equivalents	—	2	111	377	—		490
Trade receivables - third party and affiliates	—	—	160	1,209	(164	)	1,205
Non-trade receivables, net	38	486	301	441	(995	)	271
Inventories, net	—	—	281	719	(45	)	955
Marketable securities, at fair value	—	—	32	—	—		32
Other assets	—	14	8	55	(24	)	53
Total current assets	38	502	893	2,801	(1,228	)	3,006
Investments in affiliates	3,215	4,461	4,140	861	(11,698	)	979
Property, plant and equipment, net	—	—	1,181	2,620	—		3,801
Deferred income taxes	—	14	12	159	(3	)	182
Other assets	—	1,519	214	153	(1,517	)	369
Goodwill	—	—	399	708	—		1,107
Intangible assets, net	—	—	82	254	—		336
Total assets	3,253	6,496	6,921	7,556	(14,446	)	9,780
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings and current installments of long-term debt - third party and affiliates	—	83	151	466	(275	)	425
Trade payables - third party and affiliates	—	—	288	673	(164	)	797
Other liabilities	—	38	264	217	(253	)	266
Income taxes payable	—	—	501	103	(490	)	114
Total current liabilities	—	121	1,204	1,459	(1,182	)	1,602
Noncurrent Liabilities
Long-term debt	—	3,160	1,476	231	(1,524	)	3,343
Deferred income taxes	—	—	—	223	(4	)	219
Uncertain tax positions	—	—	9	145	(2	)	152
Benefit obligations	—	—	273	309	—		582
Other liabilities	—	—	55	162	—		217
Total noncurrent liabilities	—	3,160	1,813	1,070	(1,530	)	4,513
Total Celanese Corporation stockholders' equity	3,253	3,215	3,904	4,615	(11,734	)	3,253
Noncontrolling interests	—	—	—	412	—		412
Total equity	3,253	3,215	3,904	5,027	(11,734	)	3,665
Total liabilities and equity	3,253	6,496	6,921	7,556	(14,446	)	9,780

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATING BALANCE SHEET

	As of December 31, 2017
	Parent Guarantor	Issuer	Subsidiary Guarantors	Non- Guarantors	Eliminations		Consolidated
	(In $ millions)
ASSETS
Current Assets
Cash and cash equivalents	—	—	230	346	—		576
Trade receivables - third party and affiliates	—	—	89	988	(91	)	986
Non-trade receivables, net	38	482	279	385	(940	)	244
Inventories, net	—	—	277	672	(49	)	900
Marketable securities, at fair value	—	—	32	—	—		32
Other assets	—	60	12	93	(111	)	54
Total current assets	38	542	919	2,484	(1,191	)	2,792
Investments in affiliates	2,850	4,283	3,916	861	(10,934	)	976
Property, plant and equipment, net	—	—	1,145	2,617	—		3,762
Deferred income taxes	—	6	206	158	(4	)	366
Other assets	—	1,295	171	165	(1,293	)	338
Goodwill	—	—	314	689	—		1,003
Intangible assets, net	—	—	48	253	—		301
Total assets	2,888	6,126	6,719	7,227	(13,422	)	9,538
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings and current installments of long-term debt - third party and affiliates	—	76	148	369	(267	)	326
Trade payables - third party and affiliates	—	1	300	598	(92	)	807
Other liabilities	—	71	302	273	(292	)	354
Income taxes payable	—	—	471	92	(491	)	72
Total current liabilities	—	148	1,221	1,332	(1,142	)	1,559
Noncurrent Liabilities
Long-term debt	—	3,128	1,254	233	(1,300	)	3,315
Deferred income taxes	—	—	—	215	(4	)	211
Uncertain tax positions	—	—	1	157	(2	)	156
Benefit obligations	—	—	277	308	—		585
Other liabilities	—	—	255	158	—		413
Total noncurrent liabilities	—	3,128	1,787	1,071	(1,306	)	4,680
Total Celanese Corporation stockholders' equity	2,888	2,850	3,711	4,412	(10,974	)	2,887
Noncontrolling interests	—	—	—	412	—		412
Total equity	2,888	2,850	3,711	4,824	(10,974	)	3,299
Total liabilities and equity	2,888	6,126	6,719	7,227	(13,422	)	9,538

Schedule of Consolidating Statement of Cash Flows

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENT OF CASH FLOWS

	Three Months Ended March 31, 2018
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net cash provided by (used in) operating activities	63		277		(33	)	170		(334	)	143
Investing Activities
Capital expenditures on property, plant and equipment	—		—		(54	)	(32	)	—		(86	)
Acquisitions, net of cash acquired	—		—		(144	)	—		—		(144	)
Proceeds from sale of businesses and assets, net	—		—		—		9		—		9
Return of capital from subsidiary	—		—		211		—		(211	)	—
Contributions to subsidiary	—		—		(16	)	—		16		—
Intercompany loan receipts (disbursements)	—		(222	)	(15	)	—		237		—
Other, net	—		—		(3	)	(11	)	—		(14	)
Net cash provided by (used in) investing activities	—		(222	)	(21	)	(34	)	42		(235	)
Financing Activities
Net change in short-term borrowings with maturities of 3 months or less	—		15		2		99		(15	)	101
Proceeds from short-term borrowings	—		—		—		36		—		36
Repayments of short-term borrowings	—		—		—		(38	)	—		(38	)
Proceeds from long-term debt	—		—		222		—		(222	)	—
Repayments of long-term debt	—		(6	)	(12	)	(13	)	—		(31	)
Purchases of treasury stock, including related fees	—		—		—		—		—		—
Dividends to parent	—		(62	)	(272	)	—		334		—
Contributions from parent	—		—		—		16		(16	)	—
Series A common stock dividends	(63	)	—		—		—		—		(63	)
Return of capital to parent	—		—		—		(211	)	211		—
(Distributions to) contributions from noncontrolling interests	—		—		—		(2	)	—		(2	)
Other, net	—		—		(5	)	—		—		(5	)
Net cash provided by (used in) financing activities	(63	)	(53	)	(65	)	(113	)	292		(2	)
Exchange rate effects on cash and cash equivalents	—		—		—		8		—		8
Net increase (decrease) in cash and cash equivalents	—		2		(119	)	31		—		(86	)
Cash and cash equivalents as of beginning of period	—		—		230		346		—		576
Cash and cash equivalents as of end of period	—		2		111		377		—		490

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENT OF CASH FLOWS

	Three Months Ended March 31, 2017
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net cash provided by (used in) operating activities	179		196		210		130		(523	)	192
Investing Activities
Capital expenditures on property, plant and equipment	—		—		(42	)	(20	)	—		(62	)
Acquisitions, net of cash acquired	—		(11	)	—		—		11		—
Proceeds from sale of businesses and assets, net	—		—		—		12		(11	)	1
Return of capital from subsidiary	—		—		5		—		(5	)	—
Contributions to subsidiary	—		—		—		—		—		—
Intercompany loan receipts (disbursements)	—		—		7		—		(7	)	—
Other, net	—		—		—		(3	)	—		(3	)
Net cash provided by (used in) investing activities	—		(11	)	(30	)	(11	)	(12	)	(64	)
Financing Activities
Net change in short-term borrowings with maturities of 3 months or less	—		(7	)	6		—		7		6
Proceeds from short-term borrowings	—		—		—		7		—		7
Repayments of short-term borrowings	—		—		—		(29	)	—		(29	)
Proceeds from long-term debt	—		—		—		—		—		—
Repayments of long-term debt	—		—		—		(53	)	—		(53	)
Purchases of treasury stock, including related fees	(128	)	—		—		—		—		(128	)
Dividends to parent	—		(178	)	(165	)	(180	)	523		—
Contributions from parent	—		—		—		—		—		—
Series A common stock dividends	(51	)	—		—		—		—		(51	)
Return of capital to parent	—		—		—		(5	)	5		—
(Distributions to) contributions from noncontrolling interests	—		—		—		(4	)	—		(4	)
Other, net	—		—		(16	)	(2	)	—		(18	)
Net cash provided by (used in) financing activities	(179	)	(185	)	(175	)	(266	)	535		(270	)
Exchange rate effects on cash and cash equivalents	—		—		—		5		—		5
Net increase (decrease) in cash and cash equivalents	—		—		5		(142	)	—		(137	)
Cash and cash equivalents as of beginning of period	—		—		51		587		—		638
Cash and cash equivalents as of end of period	—		—		56		445		—		501