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Unaudited Interim Consolidated Statement of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Net sales $ 1,592 $ 1,844 $ 3,279 $ 3,695
Cost of sales (1,169) (1,323) (2,403) (2,659)
Gross profit 423 521 876 1,036
Selling, general and administrative expenses (118) (136) (238) (283)
Amortization of intangible assets (6) (7) (12) (13)
Research and development expenses (17) (18) (33) (36)
Other (charges) gains, net (98) (3) (94) (3)
Foreign exchange gain (loss), net 1 3 6 2
Gain (loss) on disposition of businesses and assets, net 1 (2) 1 (2)
Operating profit (loss) 186 358 506 701
Equity in net earnings (loss) of affiliates 39 56 89 114
Non-operating pension and other postretirement employee benefit (expense) income 17 26 34 52
Interest expense (29) (32) (60) (65)
Refinancing expense 4 0 4 0
Interest income 2 0 3 2
Dividend income - equity investments 30 34 62 66
Other income (expense), net (2) 0 (6) 4
Earnings (loss) from continuing operations before tax 239 442 624 874
Income tax (provision) benefit (28) (97) (74) (162)
Earnings (loss) from continuing operations 211 345 550 712
Earnings (loss) from operation of discontinued operations (2) 0 (3) (2)
Income tax (provision) benefit from discontinued operations 1 0 1 0
Earnings (loss) from discontinued operations (1) 0 (2) (2)
Net earnings (loss) 210 345 548 710
Net (earnings) loss attributable to noncontrolling interests (1) (1) (2) (3)
Net earnings (loss) attributable to Celanese Corporation 209 344 546 707
Amounts attributable to Celanese Corporation        
Earnings (loss) from continuing operations 210 344 548 709
Earnings (loss) from discontinued operations (1) 0 (2) (2)
Net earnings (loss) $ 209 $ 344 $ 546 $ 707
Earnings (loss) per common share - basic        
Continuing operations $ 1.68 $ 2.54 $ 4.33 $ 5.22
Discontinued operations (0.01) 0 (0.01) (0.01)
Net earnings (loss) - basic 1.67 2.54 4.32 5.21
Earnings (loss) per common share - diluted        
Continuing operations 1.67 2.52 4.31 5.19
Discontinued operations (0.01) 0 (0.01) (0.01)
Net earnings (loss) - diluted $ 1.66 $ 2.52 $ 4.30 $ 5.18
Weighted average shares - basic 125,289,967 135,589,717 126,409,926 135,752,179
Weighted average shares - diluted 125,847,894 136,309,158 127,111,046 136,499,748