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Unaudited Interim Consolidated Statement of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net sales $ 1,411 $ 1,586 $ 4,064 $ 4,865
Cost of sales (1,084) (1,172) (3,147) (3,575)
Gross profit 327 414 917 1,290
Selling, general and administrative expenses (106) (120) (345) (358)
Amortization of intangible assets (6) (6) (17) (18)
Research and development expenses (19) (17) (54) (50)
Other (charges) gains, net (10) (7) (37) (101)
Foreign exchange gain (loss), net (2) (1) (2) 5
Gain (loss) on disposition of businesses and assets, net 0 (3) (1) (2)
Operating profit (loss) 184 260 461 766
Equity in net earnings (loss) of affiliates 25 45 113 134
Non-operating pension and other postretirement employee benefit (expense) income 28 17 83 51
Interest expense (28) (27) (83) (87)
Refinancing expense 0 0 0 (4)
Interest income 1 1 4 4
Dividend income - equity investments 29 27 98 89
Other income (expense), net 2 0 4 (6)
Earnings (loss) from continuing operations before tax 241 323 680 947
Income tax (provision) benefit (30) (53) (130) (127)
Earnings (loss) from continuing operations 211 270 550 820
Earnings (loss) from operation of discontinued operations (2) (6) (13) (9)
Income tax (provision) benefit from discontinued operations 0 1 1 2
Earnings (loss) from discontinued operations (2) (5) (12) (7)
Net earnings (loss) 209 265 538 813
Net (earnings) loss attributable to noncontrolling interests (2) (2) (6) (4)
Net earnings (loss) attributable to Celanese Corporation 207 263 532 809
Amounts attributable to Celanese Corporation        
Earnings (loss) from continuing operations 209 268 544 816
Earnings (loss) from discontinued operations (2) (5) (12) (7)
Net earnings (loss) $ 207 $ 263 $ 532 $ 809
Earnings (loss) per common share - basic        
Continuing operations $ 1.77 $ 2.18 $ 4.59 $ 6.52
Discontinued operations (0.02) (0.04) (0.10) (0.06)
Net earnings (loss) - basic 1.75 2.14 4.49 6.46
Earnings (loss) per common share - diluted        
Continuing operations 1.76 2.17 4.57 6.49
Discontinued operations (0.01) (0.04) (0.10) (0.06)
Net earnings (loss) - diluted $ 1.75 $ 2.13 $ 4.47 $ 6.43
Weighted average shares - basic 118,045,476 122,699,859 118,543,853 125,159,647
Weighted average shares - diluted 118,564,820 123,299,664 119,119,203 125,868,829