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Unaudited Interim Consolidated Statement of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net sales $ 1,586 $ 1,771 $ 4,865 $ 5,466
Cost of sales (1,172) (1,255) (3,575) (3,914)
Gross profit 414 516 1,290 1,552
Selling, general and administrative expenses (120) (129) (358) (412)
Amortization of intangible assets (6) (5) (18) (18)
Research and development expenses (17) (18) (50) (54)
Other (charges) gains, net (7) 12 (101) 9
Foreign exchange gain (loss), net (1) 0 5 2
Gain (loss) on disposition of businesses and assets, net (3) (2) (2) (4)
Operating profit (loss) 260 374 766 1,075
Equity in net earnings (loss) of affiliates 45 66 134 180
Non-operating pension and other postretirement employee benefit (expense) income 17 25 51 77
Interest expense (27) (30) (87) (95)
Refinancing expense 0 0 4 0
Interest income 1 2 4 4
Dividend income - equity investments 27 26 89 92
Other income (expense), net 0 (1) (6) 3
Earnings (loss) from continuing operations before tax 323 462 947 1,336
Income tax (provision) benefit (53) (54) (127) (216)
Earnings (loss) from continuing operations 270 408 820 1,120
Earnings (loss) from operation of discontinued operations (6) (7) (9) (9)
Income tax (provision) benefit from discontinued operations 1 1 2 1
Earnings (loss) from discontinued operations (5) (6) (7) (8)
Net earnings (loss) 265 402 813 1,112
Net (earnings) loss attributable to noncontrolling interests (2) (1) (4) (4)
Net earnings (loss) attributable to Celanese Corporation 263 401 809 1,108
Amounts attributable to Celanese Corporation        
Earnings (loss) from continuing operations 268 407 816 1,116
Earnings (loss) from discontinued operations (5) (6) (7) (8)
Net earnings (loss) $ 263 $ 401 $ 809 $ 1,108
Earnings (loss) per common share - basic        
Continuing operations $ 2.18 $ 3.02 $ 6.52 $ 8.25
Discontinued operations (0.04) (0.04) (0.06) (0.06)
Net earnings (loss) - basic 2.14 2.98 6.46 8.19
Earnings (loss) per common share - diluted        
Continuing operations 2.17 3.00 6.49 8.18
Discontinued operations (0.04) (0.04) (0.06) (0.06)
Net earnings (loss) - diluted $ 2.13 $ 2.96 $ 6.43 $ 8.12
Weighted average shares - basic 122,699,859 134,519,301 125,159,647 135,336,704
Weighted average shares - diluted 123,299,664 135,499,390 125,868,829 136,387,703