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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
Business Segments
The Company operates through business segments according to the nature and economic characteristics of its products and customer relationships, as well as the manner in which the information is used internally by the Company's chief operating decision maker ("CODM"), who is the Company's President and Chief Executive Officer.
The Company's CODM regularly reviews the Operating profit of each reportable segment to assess financial results and allocate resources. Operating profit is assessed against forecast and prior periods to evaluate and assess segment results. Operating profit is also reported on the consolidated statement of operations. The Company has disclosed for each reportable segment the significant expense categories that are reviewed by the CODM in the tables below.
The Company's business segments are as follows:
•Engineered Materials
The Company's Engineered Materials segment includes the engineered materials business and certain strategic affiliates. The engineered materials business develops, produces and supplies a broad portfolio of high performance specialty polymers for automotive and medical applications, as well as industrial products and consumer electronics. Together with its strategic affiliates, the Company's engineered materials business participates in the global specialty polymers industry. The primary products of Engineered Materials are used in a broad range of end-use products including fuel system components, automotive safety systems, medical applications, consumer electronics, appliances, industrial products, battery separators, filtration equipment, coatings, and electrical applications and products.
•Acetyl Chain
The Company's Acetyl Chain segment includes the integrated chain of acetic acid, vinyl acetate monomer ("VAM"), acetic anhydride, acetate esters, emulsion polymers, ethylene vinyl acetate ("EVA") polymers, redispersible powders ("RDP"), and acetate tow businesses. The Company's acetyl chain business produces and supplies acetyl products, including acetic acid, VAM, acetic anhydride and acetate esters. These products are generally used as starting materials for colorants, paints, adhesives, coatings and pharmaceuticals. It also produces organic solvents and intermediates for pharmaceutical, agricultural and chemical products. The Company's emulsion polymers business is a leading global producer of vinyl acetate-based emulsions and develops products and application technologies to improve performance, create value and drive innovation in applications such as paints and coatings, adhesives, construction, glass fiber, textiles and paper. The Company's EVA polymers business is a leading North American manufacturer of a full range of specialty EVA resins and compounds, as well as select grades of low-density polyethylene. The Company's EVA polymers products are used in many applications, including flexible packaging films, lamination film products, hot melt adhesives, automotive parts and carpeting. The Company's RDP business is a leading global producer of redispersible polymer powders. The Company's RDP products are used in a variety of applications in the mortar industry, including decorative mortar, exterior insulation and finish systems, gypsum-based materials, plaster and render, self-leveling floor systems, skim coat and tile adhesives. The Company's acetate tow business is a leading global producer and supplier of acetate tow and acetate flake, primarily used in filter products applications.
•Other Activities
Other Activities primarily consists of corporate center costs, including administrative activities such as finance, taxes, information technology and human resource functions, interest income and expense associated with financing activities and results of the Company's captive insurance companies. Other Activities also includes the components of net periodic benefit cost (interest cost, expected return on assets and net actuarial gains and losses) for the Company's defined benefit pension plans and other postretirement plans not allocated to the Company's business segments.
The business segment management reporting and controlling systems are based on the same accounting policies as those described in the summary of significant accounting policies (Note 2).
Sales transactions between business segments are generally recorded at cost plus a mark-up.
Engineered
Materials		Acetyl ChainOther
Activities		EliminationsConsolidated
(In $ millions)
Year Ended December 31, 2024
Net sales5,607 4,763 (1)— (90)10,280 
Cost of sales(4,371)(3,647)4 90 (7,924)
Gross profit1,236 1,116 4 — 2,356 
Selling, general and administrative expenses(434)(119)(477)— (1,030)
Amortization of intangible assets(157)(2)— — (159)
Research and development expenses(90)(40)— — (130)
Other (charges) gains, net (Note 24)
(1,724)— (20)— (1,744)
Gain (loss) on disposition of business and assets, net(10)(4)— — (14)
Other segment items(2)
— — 24 — 24 
Operating profit (loss)(1,179)951 (469)— (697)
Depreciation and amortization
510 244 47 — 801 
Equity in net earnings (loss) of affiliates
172 10 14 — 196 
Capital expenditures211 151 52 — 414 (3)
As of December 31, 2024
Goodwill and intangible assets, net8,617 411 — — 9,028 
Total assets15,496 5,265 2,096 — 22,857 
Engineered
Materials		Acetyl ChainOther
Activities		EliminationsConsolidated
(In $ millions)
Year Ended December 31, 2023
Net sales6,149 4,884 (1)— (93)10,940 
Cost of sales(4,825)(3,607)2 93 (8,337)
Gross profit1,324 1,277 2 — 2,603 
Selling, general and administrative expenses(435)(118)(522)— (1,075)
Amortization of intangible assets(162)(2)— — (164)
Research and development expenses(97)(40)(9)— (146)
Other (charges) gains, net (Note 24)
(56)(4)(8)— (68)
Gain (loss) on disposition of business and assets, net509 (4)(4)— — 505 
Other segment items(2)
— — 32 — 32 
Operating profit (loss)1,083 1,109 (505)— 1,687 
Depreciation and amortization
462 217 27 — 706 
Equity in net earnings (loss) of affiliates
83 6 13 — 102 
Capital expenditures237 207 98 — 542 (3)
As of December 31, 2023
Goodwill and intangible assets, net
10,525 427 — — 10,952 
Total assets17,930 5,5383,129 — 26,597 
Year Ended December 31, 2022
Net sales4,024 5,743 (1)— (94)9,673 
Cost of sales(3,249)(4,130)(8)94 (7,293)
Gross profit775 1,613 (8)— 2,380 
Selling, general and administrative expenses(213)(125)(486)— (824)
Amortization of intangible assets(57)(3)(2)— (62)
Research and development expenses(71)(40)(1)— (112)
Other (charges) gains, net (Note 24)
(7)— (1)— (8)
Gain (loss) on disposition of business and assets, net2 2 1 — 5 
Other segment items(2)
— — (1)— (1)
Operating profit (loss)429 1,447 (498)— 1,378 
Depreciation and amortization
226 213 23 — 462 
Equity in net earnings (loss) of affiliates
202 7 11 — 220 
Capital expenditures178 352 53 — 583 (3)
______________________________
(1)Includes intersegment sales of $90 million, $93 million and $94 million for the years ended December 31, 2024, 2023 and 2022, respectively.
(2)Includes Foreign exchange gain (loss), net.
(3)Includes a decrease in accrued capital expenditures of $21 million, a decrease in accrued capital expenditures of $26 million and an increase in accrued capital expenditures of $40 million for the years ended December 31, 2024, 2023 and 2022, respectively.
(4)Includes a $515 million gain related to the formation of the Nutrinova joint venture included in Gain (loss) on disposition of businesses and assets, net in the consolidated statements of operations (Note 4).
Geographical Area Information
The Net sales to external customers based on geographic location are as follows:
Year Ended December 31,
202420232022
(In $ millions)
Belgium400 499 251 
Brazil140 140 122 
Canada127 146 120 
Greater China
1,984 1,952 1,525 
France68 84 31 
Germany2,201 2,468 2,934 
India155 150 55 
Italy63 77 7 
Japan278 312 87 
Mexico344 361 359 
Singapore1,001 1,146 1,209 
South Korea140 154 68 
Spain50 58 11 
Switzerland294 223 165 
United Kingdom78 86 13 
U.S.2,748 2,821 2,562 
Other209 263 154 
Total10,280 10,940 9,673 
Property, plant and equipment, net based on the geographic location of the Company's facilities is as follows:
As of December 31,
20242023
(In $ millions)
Belgium60 112 
Canada121 121 
Greater China
659 568 
Germany795 843 
Italy76 74 
Japan37 43 
Mexico42 44 
Netherlands49 48 
Singapore81 82 
South Korea70 64 
Switzerland57 58 
United Kingdom107 118 
U.S.3,001 3,286 
Other118 123 
Total5,273 5,584