Segment Information

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

Segment sales include transfers to another business segment. Segment pre-tax operating income (loss) (PTOI) is defined as income (loss) before income taxes excluding non-operating pension and other postretirement employee benefit costs, exchange gains (losses), corporate expenses and interest.

Viton^® fluoroelastomer products (Viton^®) will be included in the Performance Chemicals separation and therefore the results are reported within Performance Chemicals. Viton^® was previously reported within Performance Materials. Reclassifications of prior year data have been made to conform to current year classifications.

Three Months Ended March 31,	Agriculture1			Electronics & Communications		Industrial Biosciences		Nutrition & Health		Performance Chemicals		Performance Materials		Safety & Protection		Other				Total
2015
Segment sales	$	3,937		$	521	$	285	$	813	$	1,364	$	1,411	$	909	$	1			$	9,241
Less: Transfers	—			4		5		—		29		30		1		—				69
Net sales	3,937			517		280		813		1,335		1,381		908		1				9,172
PTOI	1,174		2	85		56		89		129		327		184		(103		)	3	1,941
2014
Segment sales	$	4,394		$	580	$	301	$	861	$	1,591	$	1,534	$	947	$	1			$	10,209
Less: Transfers	3			3		3		—		57		14		1		—				81
Net sales	4,391			577		298		861		1,534		1,520		946		1				10,128
PTOI	1,442			75		56		93		206		293		175		(92		)		2,248

¹  As of March 31, 2015, Agriculture net assets were $9,005, an increase of $2,310 from $6,695 at December 31, 2014. The increase was primarily due to higher trade receivables due to normal seasonality in the sales and cash collections cycle.

² Included $35 of insurance recoveries during the three months ended March 31, 2015 recorded in other operating charges for recovery of costs for customer claims related to the use of the Imprelis^® herbicide. See Note 9 for additional information.

³  Included a $(37) pre-tax impairment charge during the three months ended March 31, 2015 recorded in employee separation / asset related charges, net for a cost basis investment. See Note 3 for additional information.

Reconciliation to Consolidated Income Statements 

	Three Months Ended March 31,
	2015			2014
Total segment PTOI	$	1,941		$	2,248
Non-operating pension and other postretirement employee benefit costs	(75		)	(30		)
Net exchange gains (losses)2	64			(96		)
Corporate expenses1	(245		)	(217		)
Interest expense	(84		)	(103		)
Income before income taxes	$	1,601		$	1,802

¹  Included transaction costs associated with the separation of the Performance Chemicals segment of $(81) and $(16) in the three months ended March 31, 2015 and 2014, respectively, which were recorded in other operating charges in the company's interim Consolidated Income Statements.

²  Included a charge of $(40) associated with remeasuring the company's Ukranian hryvnia net monetary assets in the three months ended March 31, 2015, which was recorded in other income, net in the company's interim Consolidated Income Statements.