XML 48 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2024
USD ($)
$ / shares
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)
202412,795,946(4,333,554)3,166,373483,18444.0296.16(1,522)8.37
202312,972,96216,563,6352,378,7212,992,573138.16142.611,9608.92
202210,967,783(8,923,734)2,671,920(2,104,590)88.75130.401,89415.88
202112,570,99241,533,9343,747,60711,453,491142.59143.701,89018.12
20207,067,4463,747,4402,446,6001,230,750108.26116.321,9857.64
       
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 former 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 2024, Mr. Richardson, Mr. Kyrish, Mr. Kelly and Mr. Murray; (ii) for 2023, Mr. Richardson, Mr. Kyrish, Mr. Kelly, Mr. Murray, Ashley B. Duffie, our Senior Vice President, General Counsel and Corporate Secretary, and Anne L. Puckett, our Former Senior Vice President, General Counsel and Corporate Secretary; (iii) for 2022, Mr. Richardson, Mr. Kelly, John G. Fotheringham, our Former Senior Vice President, Acetyls, and Ms. Puckett; (iv) for 2021, Mr. Richardson, Mr. Kelly, Mr. Fotheringham and Ms. Puckett; (v) 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, and, as of February 3, 2025, our Senior Vice President, Engineered Materials.        
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 $ 12,795,946 $ 12,972,962 $ 10,967,783 $ 12,570,992 $ 7,067,446
PEO Actually Paid Compensation Amount $ (4,333,554) 16,563,635 (8,923,734) 41,533,934 3,747,440
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, certain of which have been corrected for prior years herein due to certain inadvertent errors, were made to total compensation to determine the compensation actually paid for the years 2020 to 2024:
YearReported
Summary Compensation Table Total for PEO
Year over Year Change in Present Value of Benefit under Defined Benefit Pension Plans
Reported
Value of Equity Awards(a)
Equity
Award Adjustments(b)
“Compensation Actually Paid” to PEO
202412,795,94610,124,923(7,004,577)(4,333,554)
202312,972,9629,499,90013,090,57316,563,635
202210,967,7837,999,809(11,891,708)(8,923,734)
202112,570,9928,649,88637,612,82841,533,934
20207,067,4464,499,8691,179,8633,747,440
(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 years 2020 to 2024 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
20241,016,702(6,306,494)(463,865)(1,250,920)(7,004,577)
20238,056,1003,544,8361,489,63713,090,573
20224,604,252(8,892,056)(7,603,904)(11,891,708)
202122,500,06414,801,924310,84137,612,828
20202,844,139(1,247,431)(416,845)1,179,863
       
Non-PEO NEO Average Total Compensation Amount $ 3,166,373 2,378,721 2,671,920 3,747,607 2,446,600
Non-PEO NEO Average Compensation Actually Paid Amount $ 483,184 2,992,573 (2,104,590) 11,453,491 1,230,750
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, certain of which have been corrected for prior years herein due to certain inadvertent errors, were made to average total compensation for the NEOs as a group (excluding our CEO) for 2024 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 Year over Year Change in Present Value of Benefit under Defined Benefit Pension PlansAverage Reported
Value of Equity Awards
Average Equity
Award Adjustments(a)
Average “Compensation Actually Paid” to Non-PEO NEOs
20243,166,3732,5002,049,848(630,841)483,184
20232,378,7212,5001,266,5771,882,9292,992,573
20222,671,9202501,399,790(3,376,469)(2,104,590)
20213,747,6072,0002,074,9689,782,85211,453,491
20202,446,600137,2001,259,833181,1841,230,750
(a)The amounts deducted or added in calculating the total average equity award adjustments for years 2020 to 2024 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
2024332,953(887,467)(76,327)(630,841)
20231,074,100556,850251,9791,882,929
2022805,641(2,277,894)(1,904,216)(3,376,469)
20215,397,3934,452,646(67,187)9,782,852
2020702,555(322,581)31,472(86,891)(143,370)181,184
       
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 5-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.
tsr co v pg 3-10-25.jpg
3-10-25 cap v. 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 five 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 2024, the CMDC does not use GAAP net income to make decisions regarding compensation levels or design, or incentive plan payouts.
3-10-25 cap v net income.jpg
3-10-25 cap v 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 five 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 2024, the CMDC does not use GAAP net income to make decisions regarding compensation levels or design, or incentive plan payouts.
3-10-25 cap v net income.jpg
3-10-25 cap v 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 5-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.
tsr co v pg 3-10-25.jpg
3-10-25 cap v. tsr.jpg
       
Tabular List, Table
Most Important Performance Measures
s Adjusted EPS
sOperating EBITDA
sROCE
sFree Cash Flow
       
Total Shareholder Return Amount $ 44.02 138.16 88.75 142.59 108.26
Peer Group Total Shareholder Return Amount 96.16 142.61 130.40 143.70 116.32
Net Income (Loss) $ (1,522,000,000) $ 1,960,000,000 $ 1,894,000,000 $ 1,890,000,000 $ 1,985,000,000
Company Selected Measure Amount | $ / shares 8.37 8.92 15.88 18.12 7.64
PEO Name Lori J. Ryerkerk 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 2024. 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.        
Measure:: 2          
Pay vs Performance Disclosure          
Name Operating EBITDA        
Measure:: 3          
Pay vs Performance Disclosure          
Name ROCE        
Measure:: 4          
Pay vs Performance Disclosure          
Name Free Cash Flow        
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0 $ 0
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (10,124,923) (9,499,900) (7,999,809) (8,649,886) (4,499,869)
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (7,004,577) 13,090,573 (11,891,708) 37,612,828 1,179,863
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,016,702 8,056,100 4,604,252 22,500,064 2,844,139
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (6,306,494) 3,544,836 (8,892,056) 14,801,924 (1,247,431)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (463,865) 1,489,637 (7,603,904) 310,841 (416,845)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,250,920) 0 0 0 0
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,500 2,500 250 2,000 137,200
Non-PEO NEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (630,841) 1,882,929 (3,376,469) 9,782,852 181,184
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,049,848 1,266,577 1,399,790 2,074,968 1,259,833
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 332,953 1,074,100 805,641 5,397,393 702,555
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (887,467) 556,850 (2,277,894) 4,452,646 (322,581)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 31,472
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (76,327) 251,979 (1,904,216) (67,187) (86,891)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 (143,370)
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0 $ 0