Consolidating Guarantor Financial Information (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2018
	Parent Guarantor	Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net sales	—	—		565		1,483		(277	)	1,771
Cost of sales	—	—		(432	)	(1,105	)	282		(1,255	)
Gross profit	—	—		133		378		5		516
Selling, general and administrative expenses	—	—		(46	)	(83	)	—		(129	)
Amortization of intangible assets	—	—		(1	)	(4	)	—		(5	)
Research and development expenses	—	—		(7	)	(11	)	—		(18	)
Other (charges) gains, net	—	—		—		12		—		12
Foreign exchange gain (loss), net	—	(3	)	—		3		—		—
Gain (loss) on disposition of businesses and assets, net	—	—		(3	)	1		—		(2	)
Operating profit (loss)	—	(3	)	76		296		5		374
Equity in net earnings (loss) of affiliates	401	411		286		64		(1,096	)	66
Non-operating pension and other postretirement employee benefit (expense) income	—	—		23		3		(1	)	25
Interest expense	—	(5	)	(33	)	(8	)	16		(30	)
Interest income	—	13		1		3		(15	)	2
Dividend income - cost investments	—	—		—		25		1		26
Other income (expense), net	—	—		1		(1	)	(1	)	(1	)
Earnings (loss) from continuing operations before tax	401	416		354		382		(1,091	)	462
Income tax (provision) benefit	—	(15	)	(10	)	(28	)	(1	)	(54	)
Earnings (loss) from continuing operations	401	401		344		354		(1,092	)	408
Earnings (loss) from operation of discontinued operations	—	—		(1	)	(6	)	—		(7	)
Income tax (provision) benefit from discontinued operations	—	—		—		1		—		1
Earnings (loss) from discontinued operations	—	—		(1	)	(5	)	—		(6	)
Net earnings (loss)	401	401		343		349		(1,092	)	402
Net (earnings) loss attributable to noncontrolling interests	—	—		—		(1	)	—		(1	)
Net earnings (loss) attributable to Celanese Corporation	401	401		343		348		(1,092	)	401

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENT OF OPERATIONS

	Three Months Ended September 30, 2017 - As Adjusted (Note 2)
	Parent Guarantor	Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net sales	—	—		527		1,314		(275	)	1,566
Cost of sales	—	—		(407	)	(1,042	)	266		(1,183	)
Gross profit	—	—		120		272		(9	)	383
Selling, general and administrative expenses	—	—		(54	)	(79	)	—		(133	)
Amortization of intangible assets	—	—		(1	)	(4	)	—		(5	)
Research and development expenses	—	—		(9	)	(10	)	—		(19	)
Other (charges) gains, net	—	—		—		—		—		—
Foreign exchange gain (loss), net	—	—		—		4		—		4
Gain (loss) on disposition of businesses and assets, net	—	—		(2	)	1		—		(1	)
Operating profit (loss)	—	—		54		184		(9	)	229
Equity in net earnings (loss) of affiliates	226	233		175		45		(629	)	50
Non-operating pension and other postretirement employee benefit (expense) income	—	—		20		3		—		23
Interest expense	—	(5	)	(28	)	(8	)	9		(32	)
Interest income	—	7		1		2		(9	)	1
Dividend income - cost investments	—	—		—		26		(2	)	24
Other income (expense), net	—	(2	)	—		(4	)	—		(6	)
Earnings (loss) from continuing operations before tax	226	233		222		248		(640	)	289
Income tax (provision) benefit	—	(7	)	(68	)	17		1		(57	)
Earnings (loss) from continuing operations	226	226		154		265		(639	)	232
Earnings (loss) from operation of discontinued operations	—	—		—		(5	)	—		(5	)
Income tax (provision) benefit from discontinued operations	—	—		—		1		—		1
Earnings (loss) from discontinued operations	—	—		—		(4	)	—		(4	)
Net earnings (loss)	226	226		154		261		(639	)	228
Net (earnings) loss attributable to noncontrolling interests	—	—		—		(2	)	—		(2	)
Net earnings (loss) attributable to Celanese Corporation	226	226		154		259		(639	)	226

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENT OF OPERATIONS

	Nine Months Ended September 30, 2018
	Parent Guarantor	Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net sales	—	—		1,733		4,621		(888	)	5,466
Cost of sales	—	—		(1,337	)	(3,470	)	893		(3,914	)
Gross profit	—	—		396		1,151		5		1,552
Selling, general and administrative expenses	—	—		(156	)	(256	)	—		(412	)
Amortization of intangible assets	—	—		(3	)	(15	)	—		(18	)
Research and development expenses	—	—		(22	)	(32	)	—		(54	)
Other (charges) gains, net	—	—		—		9		—		9
Foreign exchange gain (loss), net	—	(3	)	—		5		—		2
Gain (loss) on disposition of businesses and assets, net	—	—		(8	)	4		—		(4	)
Operating profit (loss)	—	(3	)	207		866		5		1,075
Equity in net earnings (loss) of affiliates	1,108	1,112		872		170		(3,082	)	180
Non-operating pension and other postretirement employee benefit (expense) income	—	—		70		8		(1	)	77
Interest expense	—	(15	)	(93	)	(25	)	38		(95	)
Interest income	—	31		5		7		(39	)	4
Dividend income - cost investments	—	—		—		89		3		92
Other income (expense), net	—	—		1		3		(1	)	3
Earnings (loss) from continuing operations before tax	1,108	1,125		1,062		1,118		(3,077	)	1,336
Income tax (provision) benefit	—	(17	)	(115	)	(83	)	(1	)	(216	)
Earnings (loss) from continuing operations	1,108	1,108		947		1,035		(3,078	)	1,120
Earnings (loss) from operation of discontinued operations	—	—		(2	)	(7	)	—		(9	)
Income tax (provision) benefit from discontinued operations	—	—		—		1		—		1
Earnings (loss) from discontinued operations	—	—		(2	)	(6	)	—		(8	)
Net earnings (loss)	1,108	1,108		945		1,029		(3,078	)	1,112
Net (earnings) loss attributable to noncontrolling interests	—	—		—		(4	)	—		(4	)
Net earnings (loss) attributable to Celanese Corporation	1,108	1,108		945		1,025		(3,078	)	1,108

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENT OF OPERATIONS

	Nine Months Ended September 30, 2017 - As Adjusted (Note 2)
	Parent Guarantor	Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net sales	—	—		1,679		3,713		(845	)	4,547
Cost of sales	—	—		(1,311	)	(2,974	)	836		(3,449	)
Gross profit	—	—		368		739		(9	)	1,098
Selling, general and administrative expenses	—	—		(132	)	(221	)	—		(353	)
Amortization of intangible assets	—	—		(3	)	(11	)	—		(14	)
Research and development expenses	—	—		(23	)	(30	)	—		(53	)
Other (charges) gains, net	—	—		(7	)	(50	)	—		(57	)
Foreign exchange gain (loss), net	—	—		—		—		—		—
Gain (loss) on disposition of businesses and assets, net	—	—		(6	)	2		—		(4	)
Operating profit (loss)	—	—		197		429		(9	)	617
Equity in net earnings (loss) of affiliates	640	640		439		122		(1,706	)	135
Non-operating pension and other postretirement employee benefit (expense) income	—	—		60		7		—		67
Interest expense	—	(17	)	(75	)	(23	)	24		(91	)
Interest income	—	19		3		4		(24	)	2
Dividend income - cost investments	—	—		—		85		(3	)	82
Other income (expense), net	—	(3	)	1		—		—		(2	)
Earnings (loss) from continuing operations before tax	640	639		625		624		(1,718	)	810
Income tax (provision) benefit	—	1		(139	)	(16	)	1		(153	)
Earnings (loss) from continuing operations	640	640		486		608		(1,717	)	657
Earnings (loss) from operation of discontinued operations	—	—		—		(14	)	—		(14	)
Income tax (provision) benefit from discontinued operations	—	—		—		2		—		2
Earnings (loss) from discontinued operations	—	—		—		(12	)	—		(12	)
Net earnings (loss)	640	640		486		596		(1,717	)	645
Net (earnings) loss attributable to noncontrolling interests	—	—		—		(5	)	—		(5	)
Net earnings (loss) attributable to Celanese Corporation	640	640		486		591		(1,717	)	640

Schedule of Consolidating Statements of Comprehensive Income (Loss)

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	Three Months Ended September 30, 2018
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net earnings (loss)	401		401		343		349		(1,092	)	402
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on marketable securities	—		—		1		—		(1	)	—
Foreign currency translation gain (loss)	(35	)	(35	)	(31	)	(37	)	103		(35	)
Gain (loss) on cash flow hedges	4		4		2		2		(8	)	4
Pension and postretirement benefits gain (loss)	—		—		—		—		—		—
Total other comprehensive income (loss), net of tax	(31	)	(31	)	(28	)	(35	)	94		(31	)
Total comprehensive income (loss), net of tax	370		370		315		314		(998	)	371
Comprehensive (income) loss attributable to noncontrolling interests	—		—		—		(1	)	—		(1	)
Comprehensive income (loss) attributable to Celanese Corporation	370		370		315		313		(998	)	370

	Three Months Ended September 30, 2017
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net earnings (loss)	226		226		154		261		(639	)	228
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on marketable securities	—		—		—		—		—		—
Foreign currency translation gain (loss)	42		42		65		74		(181	)	42
Gain (loss) on cash flow hedges	—		—		—		—		—		—
Pension and postretirement benefits gain (loss)	(1	)	(1	)	(1	)	—		2		(1	)
Total other comprehensive income (loss), net of tax	41		41		64		74		(179	)	41
Total comprehensive income (loss), net of tax	267		267		218		335		(818	)	269
Comprehensive (income) loss attributable to noncontrolling interests	—		—		—		(2	)	—		(2	)
Comprehensive income (loss) attributable to Celanese Corporation	267		267		218		333		(818	)	267

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	Nine Months Ended September 30, 2018
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net earnings (loss)	1,108		1,108		945		1,029		(3,078	)	1,112
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on marketable securities	—		—		6		13		(19	)	—
Foreign currency translation gain (loss)	(52	)	(52	)	(77	)	(95	)	224		(52	)
Gain (loss) on cash flow hedges	9		9		6		7		(22	)	9
Pension and postretirement benefits gain (loss)	1		1		1		1		(3	)	1
Total other comprehensive income (loss), net of tax	(42	)	(42	)	(64	)	(74	)	180		(42	)
Total comprehensive income (loss), net of tax	1,066		1,066		881		955		(2,898	)	1,070
Comprehensive (income) loss attributable to noncontrolling interests	—		—		—		(4	)	—		(4	)
Comprehensive income (loss) attributable to Celanese Corporation	1,066		1,066		881		951		(2,898	)	1,066

	Nine Months Ended September 30, 2017
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net earnings (loss)	640		640		486		596		(1,717	)	645
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on marketable securities	1		1		1		1		(3	)	1
Foreign currency translation gain (loss)	148		148		191		232		(571	)	148
Gain (loss) on cash flow hedges	(1	)	(1	)	(1	)	(1	)	3		(1	)
Pension and postretirement benefits gain (loss)	4		4		3		6		(13	)	4
Total other comprehensive income (loss), net of tax	152		152		194		238		(584	)	152
Total comprehensive income (loss), net of tax	792		792		680		834		(2,301	)	797
Comprehensive (income) loss attributable to noncontrolling interests	—		—		—		(5	)	—		(5	)
Comprehensive income (loss) attributable to Celanese Corporation	792		792		680		829		(2,301	)	792

Schedule of Consolidating Balance Sheet

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATING BALANCE SHEET

	As of September 30, 2018
	Parent Guarantor	Issuer	Subsidiary Guarantors	Non- Guarantors	Eliminations		Consolidated
	(In $ millions)
ASSETS
Current Assets
Cash and cash equivalents	—	14	46	643	—		703
Trade receivables - third party and affiliates	—	—	122	1,098	(134	)	1,086
Non-trade receivables, net	37	515	257	444	(974	)	279
Inventories, net	—	—	301	775	(43	)	1,033
Marketable securities, at fair value	—	—	31	—	—		31
Other assets	—	22	16	57	(47	)	48
Total current assets	37	551	773	3,017	(1,198	)	3,180
Investments in affiliates	3,504	4,736	4,729	860	(12,848	)	981
Property, plant and equipment, net	—	—	1,228	2,471	—		3,699
Deferred income taxes	—	17	—	175	(22	)	170
Other assets	—	1,621	260	479	(1,947	)	413
Goodwill	—	—	314	750	—		1,064
Intangible assets, net	—	—	101	216	—		317
Total assets	3,541	6,925	7,405	7,968	(16,015	)	9,824
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings and current installments of long-term debt - third party and affiliates	—	50	176	268	(265	)	229
Trade payables - third party and affiliates	—	—	303	650	(134	)	819
Other liabilities	—	45	296	298	(292	)	347
Income taxes payable	—	—	495	104	(462	)	137
Total current liabilities	—	95	1,270	1,320	(1,153	)	1,532
Noncurrent Liabilities
Long-term debt	—	3,326	1,580	203	(1,913	)	3,196
Deferred income taxes	—	—	67	201	(22	)	246
Uncertain tax positions	—	—	10	146	(2	)	154
Benefit obligations	—	—	265	282	—		547
Other liabilities	—	—	105	142	(41	)	206
Total noncurrent liabilities	—	3,326	2,027	974	(1,978	)	4,349
Total Celanese Corporation stockholders' equity	3,541	3,504	4,108	5,272	(12,884	)	3,541
Noncontrolling interests	—	—	—	402	—		402
Total equity	3,541	3,504	4,108	5,674	(12,884	)	3,943
Total liabilities and equity	3,541	6,925	7,405	7,968	(16,015	)	9,824

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

	Nine Months Ended September 30, 2018
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net cash provided by (used in) operating activities	459		567		224		1,015		(1,070	)	1,195
Investing Activities
Capital expenditures on property, plant and equipment	—		—		(163	)	(81	)	—		(244	)
Acquisitions, net of cash acquired	—		—		(144	)	—		—		(144	)
Proceeds from sale of businesses and assets, net	—		—		—		13		—		13
Return of capital from subsidiary	—		—		225		—		(225	)	—
Contributions to subsidiary	—		—		(16	)	—		16		—
Intercompany loan receipts (disbursements)	—		(327	)	(12	)	(285	)	624		—
Other, net	—		—		(7	)	(27	)	—		(34	)
Net cash provided by (used in) investing activities	—		(327	)	(117	)	(380	)	415		(409	)
Financing Activities
Net change in short-term borrowings with maturities of 3 months or less	—		(33	)	11		(52	)	(12	)	(86	)
Proceeds from short-term borrowings	—		—		—		44		—		44
Repayments of short-term borrowings	—		—		—		(62	)	—		(62	)
Proceeds from long-term debt	—		285		327		—		(612	)	—
Repayments of long-term debt	—		(19	)	(13	)	(24	)	—		(56	)
Purchases of treasury stock, including related fees	(250	)	—		—		—		—		(250	)
Dividends to parent	—		(459	)	(611	)	—		1,070		—
Contributions from parent	—		—		—		16		(16	)	—
Common stock dividends	(209	)	—		—		—		—		(209	)
Return of capital to parent	—		—		—		(225	)	225		—
(Distributions to) contributions from noncontrolling interests	—		—		—		(14	)	—		(14	)
Other, net	—		—		(5	)	(1	)	—		(6	)
Net cash provided by (used in) financing activities	(459	)	(226	)	(291	)	(318	)	655		(639	)
Exchange rate effects on cash and cash equivalents	—		—		—		(20	)	—		(20	)
Net increase (decrease) in cash and cash equivalents	—		14		(184	)	297		—		127
Cash and cash equivalents as of beginning of period	—		—		230		346		—		576
Cash and cash equivalents as of end of period	—		14		46		643		—		703

CELANESE CORPORATION AND SUBSIDIARIES

UNAUDITED INTERIM CONSOLIDATING STATEMENT OF CASH FLOWS

	Nine Months Ended September 30, 2017
	Parent Guarantor		Issuer		Subsidiary Guarantors		Non- Guarantors		Eliminations		Consolidated
	(In $ millions)
Net cash provided by (used in) operating activities	677		623		571		403		(1,529	)	745
Investing Activities
Capital expenditures on property, plant and equipment	—		—		(122	)	(58	)	—		(180	)
Acquisitions, net of cash acquired	—		(11	)	(12	)	(265	)	19		(269	)
Proceeds from sale of businesses and assets, net	—		—		—		20		(19	)	1
Return of capital from subsidiary	—		—		18		—		(18	)	—
Contributions to subsidiary	—		—		—		—		—		—
Intercompany loan receipts (disbursements)	—		(174	)	(25	)	—		199		—
Other, net	—		—		(1	)	(8	)	—		(9	)
Net cash provided by (used in) investing activities	—		(185	)	(142	)	(311	)	181		(457	)
Financing Activities
Net change in short-term borrowings with maturities of 3 months or less	—		245		5		(1	)	(25	)	224
Proceeds from short-term borrowings	—		—		—		150		—		150
Repayments of short-term borrowings	—		—		—		(91	)	—		(91	)
Proceeds from long-term debt	—		—		174		—		(174	)	—
Repayments of long-term debt	—		—		(1	)	(64	)	—		(65	)
Purchases of treasury stock, including related fees	(500	)	—		—		—		—		(500	)
Dividends to parent	—		(678	)	(571	)	(280	)	1,529		—
Stock option exercises	1		—		—		—		—		1
Common stock dividends	(178	)	—		—		—		—		(178	)
Return of capital to parent	—		—		—		(18	)	18		—
(Distributions to) contributions from noncontrolling interests	—		—		—		(18	)	—		(18	)
Other, net	—		—		(17	)	(2	)	—		(19	)
Net cash provided by (used in) financing activities	(677	)	(433	)	(410	)	(324	)	1,348		(496	)
Exchange rate effects on cash and cash equivalents	—		—		—		31		—		31
Net increase (decrease) in cash and cash equivalents	—		5		19		(201	)	—		(177	)
Cash and cash equivalents as of beginning of period	—		—		51		587		—		638
Cash and cash equivalents as of end of period	—		5		70		386		—		461