$EMN
EASTMAN CHEMICAL CO

2015 Q2 Form 10-Q Financial Statement

#000091538915000059 Filed on July 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2 2014 Q1
Revenue $2.533B $2.460B $2.305B
YoY Change 2.97% 0.82% -0.09%
Cost Of Revenue $1.813B $1.803B $1.710B
YoY Change 0.55% 2.27% 1.12%
Gross Profit $720.0M $657.0M $595.0M
YoY Change 9.59% -2.95% -3.41%
Gross Profit Margin 28.42% 26.71% 25.81%
Selling, General & Admin $194.0M $172.0M $168.0M
YoY Change 12.79% -4.44% -1.75%
% of Gross Profit 26.94% 26.18% 28.24%
Research & Development $57.00M $56.00M $53.00M
YoY Change 1.79% 9.8% 8.16%
% of Gross Profit 7.92% 8.52% 8.91%
Depreciation & Amortization $142.0M $110.0M $107.0M
YoY Change 29.09% 1.85% -2.73%
% of Gross Profit 19.72% 16.74% 17.98%
Operating Expenses $251.0M $228.0M $221.0M
YoY Change 10.09% -1.3% 0.45%
Operating Profit $469.0M $436.0M $361.0M
YoY Change 7.57% 1.87% -8.14%
Interest Expense -$59.00M -$43.00M -$39.00M
YoY Change 37.21% -2.27% -22.0%
% of Operating Profit -12.58% -9.86% -10.8%
Other Income/Expense, Net $0.00 $8.000M $3.000M
YoY Change -100.0% -400.0%
Pretax Income $403.0M $399.0M $322.0M
YoY Change 1.0% 4.45% -6.67%
Income Tax $104.0M $107.0M $88.00M
% Of Pretax Income 25.81% 26.82% 27.33%
Net Earnings $297.0M $292.0M $233.0M
YoY Change 1.71% 10.61% -5.67%
Net Earnings / Revenue 11.73% 11.87% 10.11%
Basic Earnings Per Share $2.00 $1.96 $1.54
Diluted Earnings Per Share $1.98 $1.93 $1.52
COMMON SHARES
Basic Shares Outstanding 148.6M shares 149.5M shares 151.4M shares
Diluted Shares Outstanding 149.8M shares 151.3M shares 153.0M shares

Balance Sheet

Concept 2015 Q2 2014 Q2 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $268.0M $175.0M $185.0M
YoY Change 53.14% -25.21% 3.93%
Cash & Equivalents $268.0M $175.0M $185.0M
Short-Term Investments
Other Short-Term Assets $272.0M $231.0M $220.0M
YoY Change 17.75% 151.09% 155.81%
Inventory $1.439B $1.354B $1.377B
Prepaid Expenses
Receivables $1.021B $1.071B $998.0M
Other Receivables $167.0M $155.0M $169.0M
Total Short-Term Assets $3.167B $2.986B $2.949B
YoY Change 6.06% 5.21% 7.75%
LONG-TERM ASSETS
Property, Plant & Equipment $5.011B $4.343B $4.301B
YoY Change 15.38% 3.97% 3.54%
Goodwill $4.474B $2.701B $2.636B
YoY Change 65.64% 3.09% 0.04%
Intangibles $2.777B $1.881B $1.738B
YoY Change 47.63% 3.35% -5.65%
Long-Term Investments
YoY Change
Other Assets $457.0M $327.0M $323.0M
YoY Change 39.76% 6.51% 1.25%
Total Long-Term Assets $12.72B $9.252B $8.998B
YoY Change 37.47% 3.68% 0.54%
TOTAL ASSETS
Total Short-Term Assets $3.167B $2.986B $2.949B
Total Long-Term Assets $12.72B $9.252B $8.998B
Total Assets $15.89B $12.24B $11.95B
YoY Change 29.81% 4.05% 2.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $712.0M $704.0M $729.0M
YoY Change 1.14% 2.62% 6.11%
Accrued Expenses $142.0M $172.0M $119.0M
YoY Change -17.44% -13.57% -9.85%
Deferred Revenue
YoY Change
Short-Term Debt $251.0M $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $251.0M $0.00 $0.00
YoY Change
Total Short-Term Liabilities $1.821B $1.274B $1.259B
YoY Change 42.94% -2.67% -2.63%
LONG-TERM LIABILITIES
Long-Term Debt $7.072B $4.773B $4.635B
YoY Change 48.17% 2.01% -3.01%
Other Long-Term Liabilities $696.0M $388.0M $398.0M
YoY Change 79.38% -18.66% -17.6%
Total Long-Term Liabilities $7.768B $5.161B $5.033B
YoY Change 50.51% 0.1% -4.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.821B $1.274B $1.259B
Total Long-Term Liabilities $7.768B $5.161B $5.033B
Total Liabilities $12.04B $8.279B $8.139B
YoY Change 45.44% -1.31% -4.24%
SHAREHOLDERS EQUITY
Retained Earnings $4.893B $4.431B $4.191B
YoY Change 10.43% 28.21% 29.39%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.608B $2.527B $2.427B
YoY Change 3.21% 25.91% 23.76%
Treasury Stock Shares 68.10M shares 67.04M shares 65.89M shares
Shareholders Equity $3.764B $3.882B $3.729B
YoY Change
Total Liabilities & Shareholders Equity $15.89B $12.24B $11.95B
YoY Change 29.81% 4.05% 2.22%

Cashflow Statement

Concept 2015 Q2 2014 Q2 2014 Q1
OPERATING ACTIVITIES
Net Income $297.0M $292.0M $233.0M
YoY Change 1.71% 10.61% -5.67%
Depreciation, Depletion And Amortization $142.0M $110.0M $107.0M
YoY Change 29.09% 1.85% -2.73%
Cash From Operating Activities $591.0M $419.0M -$30.00M
YoY Change 41.05% 15.75% -700.0%
INVESTING ACTIVITIES
Capital Expenditures -$141.0M -$132.0M $122.0M
YoY Change 6.82% 32.0% 40.23%
Acquisitions
YoY Change
Other Investing Activities -$2.000M -$273.0M $4.000M
YoY Change -99.27% 3312.5%
Cash From Investing Activities -$143.0M -$405.0M -$119.0M
YoY Change -64.69% 275.0% 43.37%
FINANCING ACTIVITIES
Cash Dividend Paid $53.00M
YoY Change 5200.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -376.0M -27.00M $98.00M
YoY Change 1292.59% -86.5% 880.0%
NET CHANGE
Cash From Operating Activities 591.0M 419.0M -$30.00M
Cash From Investing Activities -143.0M -405.0M -$119.0M
Cash From Financing Activities -376.0M -27.00M $98.00M
Net Change In Cash 72.00M -13.00M -$51.00M
YoY Change -653.85% -124.07% -25.0%
FREE CASH FLOW
Cash From Operating Activities $591.0M $419.0M -$30.00M
Capital Expenditures -$141.0M -$132.0M $122.0M
Free Cash Flow $732.0M $551.0M -$152.0M
YoY Change 32.85% 19.26% 85.37%

Facts In Submission

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-4000000 USD
CY2014Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.27
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.27
CY2015Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.26
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.29
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
191000000 USD
CY2015Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
142000000 USD
CY2014Q4 us-gaap Environmental Exit Costs Costs Accrued To Date
EnvironmentalExitCostsCostsAccruedToDate
10000000 USD
CY2015Q2 us-gaap Environmental Exit Costs Costs Accrued To Date
EnvironmentalExitCostsCostsAccruedToDate
8000000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
5000000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
CY2014Q4 us-gaap Goodwill
Goodwill
4486000000 USD
CY2015Q2 us-gaap Goodwill
Goodwill
4474000000 USD
CY2014Q2 us-gaap Gross Profit
GrossProfit
657000000 USD
us-gaap Gross Profit
GrossProfit
1252000000 USD
CY2015Q2 us-gaap Gross Profit
GrossProfit
720000000 USD
us-gaap Gross Profit
GrossProfit
1376000000 USD
CY2015Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
121000000 USD
CY2015Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
29000000 USD
us-gaap Guarantee Obligations Term
GuaranteeObligationsTerm
30
CY2014Q4 us-gaap Hedging Liabilities Current
HedgingLiabilitiesCurrent
227000000 USD
CY2015Q2 us-gaap Hedging Liabilities Current
HedgingLiabilitiesCurrent
200000000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
290000000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
523000000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
297000000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
468000000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
399000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
721000000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
403000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
659000000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
292000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
526000000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
299000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
471000000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.94
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.47
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.00
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.15
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.92
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.43
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.98
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.12
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
2000000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
2000000 USD
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.02
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.02
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.02
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
107000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
195000000 USD
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
104000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
188000000 USD
CY2015Q2 us-gaap Income Tax Reconciliation Tax Settlements Foreign
IncomeTaxReconciliationTaxSettlementsForeign
6000000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-44000000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-109000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
191000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
103000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
54000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-43000000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-21000000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-15000000 USD
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-28000000 USD
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
139000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-16000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-17000000 USD
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2905000000 USD
CY2015Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2777000000 USD
CY2014Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-45000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-87000000 USD
CY2015Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-66000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-132000000 USD
CY2014Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1130000000 USD
CY2015Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1120000000 USD
CY2014Q4 us-gaap Inventory Gross
InventoryGross
1971000000 USD
CY2015Q2 us-gaap Inventory Gross
InventoryGross
1853000000 USD
CY2014Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
462000000 USD
CY2015Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
414000000 USD
CY2014Q4 us-gaap Inventory Net
InventoryNet
1509000000 USD
CY2015Q2 us-gaap Inventory Net
InventoryNet
1439000000 USD
CY2014Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
553000000 USD
CY2015Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
510000000 USD
CY2014Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
288000000 USD
CY2015Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
223000000 USD
us-gaap Lessee Leasing Arrangements Operating Leases Term Of Contract
LesseeLeasingArrangementsOperatingLeasesTermOfContract
P45Y
CY2014Q4 us-gaap Liabilities
Liabilities
12482000000 USD
CY2015Q2 us-gaap Liabilities
Liabilities
12041000000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
16072000000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
15886000000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2022000000 USD
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1821000000 USD
CY2015Q2 us-gaap Line Of Credit Facility Capacity Available For Trade Purchases
LineOfCreditFacilityCapacityAvailableForTradePurchases
158000000 EUR
CY2015Q2 us-gaap Line Of Credit Facility Capacity Available For Trade Purchases
LineOfCreditFacilityCapacityAvailableForTradePurchases
176000000 USD
CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
7248000000 USD
CY2015Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
7072000000 USD
us-gaap Longterm Purchase Commitment Period
LongtermPurchaseCommitmentPeriod
P30Y
CY2014Q4 us-gaap Minority Interest
MinorityInterest
80000000 USD
CY2015Q2 us-gaap Minority Interest
MinorityInterest
81000000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
71000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-359000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-524000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-265000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
389000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
682000000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
292000000 USD
us-gaap Net Income Loss
NetIncomeLoss
525000000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
297000000 USD
us-gaap Net Income Loss
NetIncomeLoss
468000000 USD
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000 USD
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
5
us-gaap Objectives For Using Derivative Instruments
ObjectivesForUsingDerivativeInstruments
The Company is exposed to market risks, such as changes in foreign currency exchange rates, commodity prices, and interest rates. To mitigate these market risk factors and their effects on the cash flows of the underlying transaction, the Company uses various derivative financial instruments when appropriate in accordance with the Company's hedging strategy and policies. Designation is performed on a specific exposure basis to support hedge accounting. The changes in fair value of these hedging instruments are offset in part or in whole by corresponding changes in the anticipated cash flows of the underlying exposures being hedged. The Company does not enter into derivative transactions for speculative purposes.
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
436000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
797000000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
469000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
780000000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
250000000 USD
CY2015Q2 us-gaap Other Assets Current
OtherAssetsCurrent
272000000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
421000000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
457000000 USD
CY2014 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
7000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
14000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
10000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
17000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-4000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-8000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-17000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-7000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-11000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
2000000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-7000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
80000000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-55000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
0 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
-5000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
14000000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
98000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-3000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-230000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
9000000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
61000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
9000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
12000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
76000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-136000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
9000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
13000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-201000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
76000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-136000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-448000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
78000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-86000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
9000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
14000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-40000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-35000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
6000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
9000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-25000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-22000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
9000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
9000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-26000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
63000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
6000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
6000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-16000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
39000000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
768000000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
696000000 USD
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
11000000 USD
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
11000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-33000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
95000000 USD
CY2014Q4 us-gaap Other Receivables
OtherReceivables
264000000 USD
CY2015Q2 us-gaap Other Receivables
OtherReceivables
167000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2000000 USD
us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
360000000 USD
us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
31000000 USD
CY2014 us-gaap Payments For Restructuring
PaymentsForRestructuring
29000000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
26000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
106000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
119000000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
9000000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
3000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
283000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
254000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
266000000 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1000000 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1000000 USD
us-gaap Pension Contributions
PensionContributions
27000000 USD
us-gaap Pension Contributions
PensionContributions
0 USD
CY2014Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.55
CY2015Q2 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.55
CY2014Q4 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
1498000000 USD
CY2015Q2 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
1490000000 USD
CY2015Q2 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
128000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Proceeds From Repayments Of Short Term Debt
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us-gaap Proceeds From Sales Of Assets Investing Activities
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us-gaap Proceeds From Sales Of Assets Investing Activities
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Restructuring Reserve Period Increase Decrease
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109000000 USD
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us-gaap Repayments Of Long Term Debt
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us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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us-gaap Restructuring Reserve Settled Without Cash1
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CY2014Q4 us-gaap Treasury Stock Shares
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RECENTLY ISSUED ACCOUNTING STANDARDS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board ("FASB") and International Accounting Standards Board jointly issued new principles-based accounting guidance for revenue recognition that will supersede virtually all existing revenue guidance. The core principle of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. To achieve the core principle, the guidance establishes the following five steps: 1) identify the contract(s) with a customer, 2) identify the performance obligation in the contract, 3) determine the transaction price, 4) allocate the transaction price to the performance obligations in the contract, and 5) recognize revenue when (or as) the entity satisfies a performance obligation. The guidance also details the accounting treatment for costs to obtain or fulfill a contract. Lastly, disclosure requirements have been enhanced to provide sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In July 2015, the FASB decided to delay the effective date of the new revenue standard by one year. The deferral results in the new revenue standard being effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early application is permitted under the original effective date of fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The Company is currently evaluating the impact on the Company's financial position or results of operations and related disclosures. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the FASB issued new guidance for debt issuance costs as a part of the simplification and productivity initiative. Under this guidance debt issuance costs will be presented as a direct reduction from the carrying amount of the debt liability, consistent with the presentation of debt discounts. The amortization of debt issuance costs will be reported as interest expense. The recognition and measurement guidance for debt issuance costs is not affected by the amendment. The new guidance is to be applied on a retrospective basis and reported as a change in an accounting principle. This guidance is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. Early adoption is permitted for financial statements that have not been previously issued. The Company is currently evaluating changes in its accounting required by this new guidance and the impact to the Company's financial position, results of operations and related disclosures. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the FASB issued new guidance for cloud computing arrangement fees, also as a part of the simplification and productivity initiative. The guidance establishes a new requirement to determine if cloud computing arrangements includes a software license. If an arrangement is deemed to include a software license then the customer would account for the license as any other purchased software, capitalized and depreciated over the life of the contract. If an arrangement is deemed not to include a license, the agreement would be accounted for as a service contract. This guidance is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period and early adoption is permitted. The Company is currently evaluating changes in its accounting required by this new guidance and the impact to the Company's financial position, results of operations and related disclosures.</font></div></div>

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