XML 46 R33.htm IDEA: XBRL DOCUMENT v3.5.0.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Schedule of Segment Information
Three Months
Ended June 30,
Agriculture1
Electronics &
Communications
Industrial Biosciences
Nutrition & Health
Performance
Materials
Protection Solutions
Other
Total
2016
 

 

 
 
 

 

 

 

Net sales
$
3,218

$
494

$
355

$
835

$
1,335

$
786

$
38

$
7,061

Operating earnings
865

93

62

130

325

188

(50
)
1,613

 
 
 
 
 
 
 
 
 
2015
 

 

 
 
 

 

 

 

Net sales
$
3,218

$
528

$
357

$
826

$
1,338

$
806

$
48

$
7,121

Operating earnings
772

89

50

100

301

181

(46
)
1,447



Six Months
Ended June 30,
Agriculture1
Electronics &
Communications
Industrial Biosciences
Nutrition & Health
Performance
Materials
Protection Solutions
Other
Total
2016
 

 

 
 
 

 

 

 

Net sales
$
7,004

$
946

$
707

$
1,636

$
2,584

$
1,515

$
74

$
14,466

Operating earnings
1,966

152

125

234

598

364

(109
)
3,330

 
 
 
 
 
 
 
 
 
2015
 

 

 
 
 

 

 

 

Net sales
$
7,155

$
1,045

$
707

$
1,639

$
2,719

$
1,596

$
97

$
14,958

Operating earnings
1,910

168

104

186

618

348

(77
)
3,257


1. 
As of June 30, 2016, Agriculture net assets were $10,153, an increase of $3,402 from $6,751 at December 31, 2015. The increase was primarily due to higher trade receivables related to normal seasonality in the sales and cash collections cycle.
Reconciliation to Consolidated Income Statements
 
Three Months Ended June 30,
Six Months Ended
June 30,
 
2016
2015
2016
2015
Total segment operating earnings
$
1,613

$
1,447

$
3,330

$
3,257

Significant pre-tax charges not included in segment operating earnings
74

110

6

108

Non-operating pension and other postretirement employee benefit costs
(133
)
(87
)
(207
)
(173
)
Net exchange (losses) gains1
(15
)
11

(136
)
90

Corporate (expenses) income2,3,4,5
(113
)
(153
)
160

(319
)
Interest expense6
(93
)
(94
)
(185
)
(178
)
Income from continuing operations before income taxes
$
1,333

$
1,234

$
2,968

$
2,785



1. 
Includes a charge of $(40) associated with re-measuring the company's Ukrainian hryvnia net monetary assets in the six months ended June 30, 2015, which was recorded in other income, net in the company's interim Consolidated Income Statements.
2. 
Includes transaction costs associated with the planned merger with Dow and related activities of $(76) and $(100) in the three and six months ended June 30, 2016, which were recorded in selling, general and administrative expenses in the company's interim Consolidated Income Statements. See Note 2 for additional information.
3. 
Includes a gain of $369 associated with the sale of DuPont (Shenzhen) Manufacturing Limited entity, which held certain buildings and other assets. The gain was recorded in other income net, in the company's interim Consolidated Income Statement for the six months ended June 30, 2016. See Note 3 for additional information.
4. 
Includes a $46 and $60 net benefit recorded in employee separation / asset related charges, net in the three and six months ended June 30, 2016, respectively, associated with the 2016 global cost savings and restructuring plan. See Note 4 for additional information.
5. 
Includes transaction costs associated with the separation of the Performance Chemicals segment of $(5) and $(17) in the three and six months ended June 30, 2015, which were recorded in other operating charges in the company's interim Consolidated Income Statements. See Note 3 for additional information.
6. 
Includes transaction costs of $(20) in the three months ended June 30, 2015, associated with the early retirement of debt exchanged for the notes received from Chemours in May 2015. These costs were recorded in interest expense in the company's interim Consolidated Income Statements. See Note 3 for additional information.
Schedule Of Additional Segment Details
Additional Segment Details
The three and six months ended June 30, 2016 and 2015, respectively, included the following significant pre-tax benefits (charges) which are excluded from segment operating earnings:
 
Three Months Ended June 30,
Six Months Ended June 30,
 
2016
2015
2016
2015
Agriculture1,2,3,5
$
35

$
(4
)
$
(38
)
$
31

Electronics & Communications2,5
8

11

15

11

Industrial Biosciences2,5
3

(1
)
4

(1
)
Nutrition & Health2,5
12

(4
)
13

(4
)
Performance Materials2,5
9

(2
)
5

(2
)
Protection Solutions2,5,6
7

113

10

113

Other2,4,5
—

(3
)
(3
)
(40
)
 
$
74

$
110

$
6

$
108


1. 
The three months ended June 30, 2016 and the six months ended June 30, 2015, includes $30 and $35, respectively, of net insurance recoveries recorded in other operating charges for recovery of costs for customer claims related to the use of the Imprelis® herbicide. Includes $23 for reduction in accrual recorded in other operating charges for the six months ended June 30, 2016, for customer claims related to the use of the Imprelis® herbicide.
2. 
The company recorded a $90 and $88 net restructuring benefit in employee separation / asset related charges, net for the three and six months ended June 30, 2016, respectively, associated with the 2016 global cost savings and restructuring program. See Note 4 for additional information.
3.  
Includes a $(75) restructuring charge recorded in employee separation / asset related charges, net for the six months ended June 30, 2016, related to the decision not to re-start the insecticide manufacturing facility at the La Porte site located in La Porte, Texas. See Note 4 for additional information.
4. 
Includes a $(37) pre-tax impairment charge recorded in employee separation / asset related charges, net for a cost basis investment for the six months ended June 30, 2015. See Note 4 for additional information.
5. 
The company recorded a $(2) net adjustment to the estimated costs associated with the 2014 restructuring program, in employee separation / asset related charges, net for the three months ended June 30, 2015. These adjustments were primarily due to the identification of additional projects in certain segments, offset by lower than estimated individual severance costs and workforce reductions achieved through non-severance programs. See Note 4 for additional information.
6. 
Includes a gain of $112, net of legal expenses, recorded in other income, net related to the company's settlement of a legal claim for the three months ended June 30, 2015.