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Unaudited Interim Consolidated Statement of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales $ 1,193 $ 1,592 $ 2,653 $ 3,279
Cost of sales (951) (1,169) (2,063) (2,403)
Gross profit 242 423 590 876
Selling, general and administrative expenses (114) (118) (239) (238)
Amortization of intangible assets (6) (6) (11) (12)
Research and development expenses (18) (17) (35) (33)
Other (charges) gains, net (21) (98) (27) (94)
Foreign exchange gain (loss), net 1 1 0 6
Gain (loss) on disposition of businesses and assets, net (1) 1 (1) 1
Operating profit (loss) 83 186 277 506
Equity in net earnings (loss) of affiliates 31 39 88 89
Non-operating pension and other postretirement employee benefit (expense) income 27 17 55 34
Interest expense (27) (29) (55) (60)
Refinancing expense 0 (4) 0 (4)
Interest income 1 2 3 3
Dividend income - equity investments 32 30 69 62
Other income (expense), net 0 (2) 2 (6)
Earnings (loss) from continuing operations before tax 147 239 439 624
Income tax (provision) benefit (35) (28) (100) (74)
Earnings (loss) from continuing operations 112 211 339 550
Earnings (loss) from operation of discontinued operations (4) (2) (11) (3)
Income tax (provision) benefit from discontinued operations 1 1 1 1
Earnings (loss) from discontinued operations (3) (1) (10) (2)
Net earnings (loss) 109 210 329 548
Net (earnings) loss attributable to noncontrolling interests (2) (1) (4) (2)
Net earnings (loss) attributable to Celanese Corporation 107 209 325 546
Amounts attributable to Celanese Corporation        
Earnings (loss) from continuing operations 110 210 335 548
Earnings (loss) from discontinued operations (3) (1) (10) (2)
Net earnings (loss) $ 107 $ 209 $ 325 $ 546
Earnings (loss) per common share - basic        
Continuing operations $ 0.93 $ 1.68 $ 2.82 $ 4.33
Discontinued operations (0.03) (0.01) (0.08) (0.01)
Net earnings (loss) - basic 0.90 1.67 2.74 4.32
Earnings (loss) per common share - diluted        
Continuing operations 0.93 1.67 2.81 4.31
Discontinued operations (0.03) (0.01) (0.09) (0.01)
Net earnings (loss) - diluted $ 0.90 $ 1.66 $ 2.72 $ 4.30
Weighted average shares - basic 118,339,872 125,289,967 118,795,780 126,409,926
Weighted average shares - diluted 118,767,633 125,847,894 119,377,515 127,111,046