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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100
Investment Based On:
Year
Summary
 Compensation
Table Total
for PEO
($)(1)
“Compensation
Actually Paid”
to PEO
($)(2)
Average
Summary
Compensation
Table Total for
Non-PEO NEOs
($)(3)
Average
“Compensation
Actually Paid”
to Non-PEO
NEOs
($)(4)
Total
Shareholder
Return
($)(5)
Peer Group Total
Shareholder
Return
($)(6)
Net
Income
(millions) ($)(7)
Adjusted Earnings Per Share
($)(8)
202312,972,96216,563,6352,378,7212,995,073138.16142.611,9608.92
202210,967,783(8,923,734)2,671,920(2,104,339)88.75130.401,89415.88
202112,570,99241,533,9223,747,60711,455,491142.59143.701,89018.12
20207,067,4463,747,4502,446,6001,367,951(9)108.26116.321,9857.64
     
Company Selected Measure Name Adjusted EPS      
Named Executive Officers, Footnote Our Principal Executive Officer (PEO) for each of the years reported was Lori J. Ryerkerk, our Chair, CEO and President. The dollar amounts reported are the amounts of total compensation reported in our Summary Compensation Table. The dollar amounts reported represent the average of the amounts reported for the Company’s named executive officers (NEOs) as a group (excluding our CEO) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding our CEO) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, Mr. Richardson, Mr. Kyrish, Mr. Kelly, Mr. Murray, Ms. Duffie and Ms. Puckett; (ii) for 2022, Mr. Richardson, Mr. Kelly, John G. Fotheringham, our Former Senior Vice President, Acetyls, and Ms. Puckett; (iii) for 2021, Mr. Richardson, Mr. Kelly, Mr. Fotheringham and Ms. Puckett; (iv) for 2020, Mr. Richardson, Mr. Kelly, Ms. Puckett, Shannon L. Jurecka, our former Senior Vice President and Chief Human Resources Officer, and Todd L. Elliott, our Former Senior Vice President, Acetyl Chain.      
Peer Group Issuers, Footnote Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the Dow Jones (US) Chemical Index      
PEO Total Compensation Amount $ 12,972,962 $ 10,967,783 $ 12,570,992 $ 7,067,446
PEO Actually Paid Compensation Amount $ 16,563,635 (8,923,734) 41,533,922 3,747,450
Adjustment To PEO Compensation, Footnote The dollar amounts reported represent the amount of “compensation actually paid”, as computed in accordance with SEC rules. The dollar amounts do not reflect the actual amount of compensation earned or realized by or paid to an NEO during the applicable year. In accordance with SEC rules, the following adjustments were made to total compensation to determine the compensation actually paid for 2023:
YearReported
Summary Compensation Table Total for PEO
Reported
Value of Equity Awards(a)
Equity
Award Adjustments(b)
“Compensation Actually Paid” to PEO
202312,972,9629,499,90013,090,57316,563,635
(a)The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.
(b)The amounts deducted or added in calculating the equity award adjustments for 2023 are set forth in the following table. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.
Year
Year End Fair Value of Equity Awards Granted in the Year
Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years  Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year Change in Fair Value from Prior Year End to Vesting Date of Equity Awards Granted in Prior Years that Vested in the Year Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair ValueTotal
Equity
Award
 Adjustments
20238,056,1003,544,8361,489,63713,090,573
     
Non-PEO NEO Average Total Compensation Amount $ 2,378,721 2,671,920 3,747,607 2,446,600
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,995,073 (2,104,339) 11,455,491 1,367,951
Adjustment to Non-PEO NEO Compensation Footnote The dollar amounts reported represent the average amount of “compensation actually paid” to the NEOs as a group (excluding our CEO), as computed in accordance with SEC rules. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding our CEO) during the applicable year. In accordance with the SEC rules, the following adjustments were made to average total compensation for the NEOs as a group (excluding our CEO) for 2023 to determine the compensation actually paid, using the same methodology described above in Note 2:
YearAverage
Reported Summary Compensation Table Total for Non-PEO NEOs
Average Reported
Value of Equity Awards
Equity
Award Adjustments(a)
Average “Compensation Actually Paid” to Non-PEO NEOs
20232,378,7211,266,5771,882,9292,995,073
(a)The amounts deducted or added in calculating the total average equity award adjustments for 2023 are as follows:
YearAverage
Year End Fair Value of Equity Awards Granted in the Year
Year over Year Average Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the YearAverage Change in Fair Value from Prior Year End to Vesting Date of Equity Awards Granted in Prior Years that Vested in the YearAverage Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the YearAverage Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair ValueTotal
Average
Equity
Award
 Adjustments
20231,074,100556,850251,9791,882,929
     
Compensation Actually Paid vs. Total Shareholder Return
Total Shareholder Return: Company versus Peer Group (Dow Jones US Chemicals Index) and (2) "Compensation Actually Paid” versus Company Total Shareholder Return
As shown in the chart below, the Company’s 4-year cumulative TSR is aligned to that of the companies included in our industry index, the Dow Jones US Chemicals Index.
Our CEO and other NEOs’ “compensation actually paid” amounts are generally aligned with the trend in TSR performance, as shown in the chart below. This is primarily because “compensation actually paid” is significantly impacted by year-over-year changes in stock prices due to the significant portion of each NEO’s compensation that is equity-based.
PVP - TSR Company v Peer Group.jpg
PVP - CAP v. Company TSR.jpg
     
Compensation Actually Paid vs. Net Income
“Compensation Actually Paid” versus GAAP Net Income and Adjusted EPS
Like many companies, our sales and earnings in 2020 were significantly adversely affected by the COVID-19 pandemic. Our relatively high GAAP net income in 2020 was primarily due to a $1,408 million gain on the sale of our joint venture interest in Polyplastics Co. Ltd. that was completed in October 2020 (and which was excluded from the Adjusted EPS results for that year). Excluding the impact of this transaction, we believe our GAAP net income trend over the past three years is not misaligned to the trend in “compensation actually paid.”
While the CMDC has selected Adjusted EPS as the Company-Selected Financial Measure representing the most important financial measure used to link performance to pay in 2023, the CMDC does not use GAAP net income to make decisions regarding compensation levels or design, or incentive plan payouts.
PVP - CAP v. Net Income.jpg
PVP - CAP v. Adjusted EPS.jpg
     
Compensation Actually Paid vs. Company Selected Measure
“Compensation Actually Paid” versus GAAP Net Income and Adjusted EPS
Like many companies, our sales and earnings in 2020 were significantly adversely affected by the COVID-19 pandemic. Our relatively high GAAP net income in 2020 was primarily due to a $1,408 million gain on the sale of our joint venture interest in Polyplastics Co. Ltd. that was completed in October 2020 (and which was excluded from the Adjusted EPS results for that year). Excluding the impact of this transaction, we believe our GAAP net income trend over the past three years is not misaligned to the trend in “compensation actually paid.”
While the CMDC has selected Adjusted EPS as the Company-Selected Financial Measure representing the most important financial measure used to link performance to pay in 2023, the CMDC does not use GAAP net income to make decisions regarding compensation levels or design, or incentive plan payouts.
PVP - CAP v. Net Income.jpg
PVP - CAP v. Adjusted EPS.jpg
     
Total Shareholder Return Vs Peer Group
Total Shareholder Return: Company versus Peer Group (Dow Jones US Chemicals Index) and (2) "Compensation Actually Paid” versus Company Total Shareholder Return
As shown in the chart below, the Company’s 4-year cumulative TSR is aligned to that of the companies included in our industry index, the Dow Jones US Chemicals Index.
Our CEO and other NEOs’ “compensation actually paid” amounts are generally aligned with the trend in TSR performance, as shown in the chart below. This is primarily because “compensation actually paid” is significantly impacted by year-over-year changes in stock prices due to the significant portion of each NEO’s compensation that is equity-based.
PVP - TSR Company v Peer Group.jpg
PVP - CAP v. Company TSR.jpg
     
Tabular List, Table
Most Important Performance Measures
s Adjusted EPS
sOperating EBITDA
sReturn on Capital Employed (ROCE)
sFree Cash Flow
     
Total Shareholder Return Amount $ 138.16 88.75 142.59 108.26
Peer Group Total Shareholder Return Amount 142.61 130.40 143.70 116.32
Net Income (Loss) $ 1,960,000,000 $ 1,894,000,000 $ 1,890,000,000 $ 1,985,000,000
Company Selected Measure Amount | $ / shares 8.92 15.88 18.12 7.64
PEO Name Lori J. Ryerkerk Lori J. Ryerkerk Lori J. Ryerkerk Lori J. Ryerkerk
Additional 402(v) Disclosure Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end of each applicable fiscal
year and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period (December 31, 2019).
The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.
     
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted EPS      
Non-GAAP Measure Description The CMDC has selected Adjusted EPS as the Company-Selected Financial Measure representing the most important financial measure used to link performance to pay in 2023. Adjusted EPS is the most heavily-weighted metric in our PRSU design, and under our pay-for-performance approach PRSUs represent a significant portion of the NEOs’ compensation. Adjusted EPS is a non-U.S. GAAP financial measure. See Exhibit A” for information concerning this measure including a definition and reconciliation to the most comparable U.S. GAAP financial measure.
(9)The amount reported in the “Average Compensation Actually Paid to Non-PEO NEOs” column for 2020 was previously reported as $1,477,958 due to an inadvertent arithmetical error that has been corrected herein.
     
Measure:: 2        
Pay vs Performance Disclosure        
Name Operating EBITDA      
Measure:: 3        
Pay vs Performance Disclosure        
Name Return on Capital Employed (ROCE)      
Measure:: 4        
Pay vs Performance Disclosure        
Name Free Cash Flow      
PEO | Adjustment, Equity Awards Reported Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 9,499,900      
PEO | Adjustment, Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 13,090,573      
PEO | Equity Awards Granted During the Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 8,056,100      
PEO | Equity Awards Granted in Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,544,836      
PEO | Equity Awards Granted During The Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,489,637      
PEO | Equity Awards That Failed To Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Adjustment, Equity Awards Reported Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,266,577      
Non-PEO NEO | Adjustment, Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,882,929      
Non-PEO NEO | Equity Awards Granted During The Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 251,979      
Non-PEO NEO | Equity Awards That Failed To Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Equity Awards Granted During The Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,074,100      
Non-PEO NEO | Equity Awards Granted In Prior Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 556,850