XML 74 R57.htm IDEA: XBRL DOCUMENT v3.10.0.1
Quaterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Data [Abstract]  
Quarterly Financial Information
 
2018 - Successor
In millions, except per share amounts (unaudited)
First
Second
Third
Fourth
Net sales
$
6,699

 
$
8,545

 
$
5,294

 
$
5,741

 
Cost of goods sold1
4,847

 
5,669

 
3,686

 
3,980

 
Restructuring and asset related charges - net2
97

 
91

 
182

 
115

 
Integration and separation costs
255

 
327

 
344

 
449

 
Goodwill impairment charge3
—

 
—

 
4,503

 
—

 
(Loss) income from continuing operations after income taxes
(216
)
4 
514

4 
(4,960
)
4,5 
(351
)
4,6 
Net (loss) income
(221
)
7 
514

 
(4,960
)
 
(351
)
 
Net (loss) income attributable to Historical DuPont
(228
)
 
513

 
(4,960
)
 
(354
)
 
 
2017
 
Predecessor
Successor
In millions, except per share amounts (unaudited)
First
Second
July 1 - Aug 31
Sept 1 - Sept 30
Fourth
Net sales
$
7,319

 
$
6,971

 
$
2,991

 
$
1,735

 
$
5,318

 
Cost of goods sold
4,152

 
3,963

 
1,937

 
1,531

1 
4,709

1 
Restructuring and asset related charges - net2
152

 
160

 
11

 
40

 
140

 
Integration and separation costs8
 
 
 
 
 
 
71

 
243

 
Income (loss) from continuing operations after income taxes
1,178

9,10 
722

 
(258
)
 
(275
)
 
1,362

4 
Net income (loss)11
1,121

 
869

 
(229
)
 
(295
)
 
1,305

 
Net income (loss) attributable to Historical DuPont
1,113

 
862

 
(234
)
 
(293
)
 
1,303

 
Earnings (loss) per common share, continuing operations - basic12
1.35

 
0.82

 
(0.30
)
 
 
 
 
 
Earnings (loss) per common share, continuing operations - diluted12
1.34

 
0.82

 
(0.30
)
 
 
 
 
 
1.
Includes charges of $(360) million and $(1,109) million, $(703) million, $(682) million, $(109) million, and $(134) million during the period September 1 - September 30, 2017, fourth quarter 2017, first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business. See Note 3 for additional information.
2.
See Note 6 for additional information.
3.
See Note 14 for additional information.
4.
Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to The Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. Includes tax (charges) benefits of $(102) million, $(7) million, $46 million, and $(167) million in the first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to The Act. See Note 9 for additional information.
5.
Includes a tax charge of $(75) million in the third quarter 2018 related to the establishment of a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil. See Note 9 for additional information.
6.
Includes a loss on early extinguishment of debt of $(81) million in the fourth quarter 2018 related to the retirement of some of the company's notes payable. See Note 15 for additional information.
7.
Includes loss from discontinued operations after taxes related to the Divested Ag Business of $(5) million in the first quarter 2018. See Note 4 for additional information.
8.
Integration and separation costs were $170 million, $201 million, and $210 million in the first quarter 2017, second quarter 2017, and the period July 1 - August 31, 2017, respectively. In the Predecessor periods, costs are recorded in selling, general and administrative expenses. See Note 3 for additional information.
9.
First quarter 2017 included a gain of $162 million recorded in sundry income - net associated with the sale of the company's global food safety diagnostic business. See Note 4 for additional information.
10.
First quarter 2017 included a tax benefit of $53 million, as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income (expense) - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations.
11.
Includes income (loss) from discontinued operations after taxes primarily related to the Divested Ag Business of $160 million, $137 million, $29 million, $(20) million, and $(57) million, in the first quarter 2017, second quarter 2017, the period July 1 - August 31, 2017, the period September 1 - September 30, 2017, and fourth quarter 2017, respectively. Additionally, includes income (loss) from discontinued operations after taxes primarily related to Chemours of $(217) million and $10 million, in the first quarter 2017 and second quarter 2017, respectively. See Note 4 for additional information.
12.
Due to quarterly changes in the share count and the allocation of income to participating securities, the sum of the four quarters may not equal the earnings
per share amount calculated for the year.