STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2025

Stockholders' Equity Note [Abstract]

Reconciliation of the changes in stockholders' equity

Reconciliations of the changes in stockholders' equity for second quarter and first six months 2025 and 2024 are provided below:


(Dollars in millions, except per share amount)	Common Stock at Par Value		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock at Cost		Total Eastman Stockholders' Equity		Noncontrolling Interest		Total Equity
Balance at March 31, 2025	$	2	$	2,476	$	10,099	$	(321)	$	(6,385)	$	5,871	$	73	$	5,944

Net Earnings	—		—		140		—		—		140		—		140
Cash Dividends Declared (1) ($0.83 per share)	—		—		(96)		—		—		(96)		—		(96)
Other Comprehensive Income (Loss)	—		—		—		(32)		—		(32)		—		(32)
Share-Based Compensation Expense (2)	—		2		—		—		—		2		—		2



Share Repurchases	—		—		—		—		(50)		(50)		—		(50)
Distributions to noncontrolling interest	—		—		—		—		—		—		(2)		(2)
Balance at June 30, 2025	$	2	$	2,478	$	10,143	$	(353)	$	(6,435)	$	5,835	$	71	$	5,906


(Dollars in millions, except per share amount)	Common Stock at Par Value		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock at Cost		Total Eastman Stockholders' Equity		Noncontrolling Interest		Total Equity
Balance at March 31, 2024	$	2	$	2,388	$	9,559	$	(328)	$	(6,083)	$	5,538	$	70	$	5,608

Net Earnings	—		—		230		—		—		230		1		231
Cash Dividends Declared (1) ($0.81 per share)	—		—		(95)		—		—		(95)		—		(95)
Other Comprehensive Income (Loss)	—		—		—		26		—		26		—		26
Share-Based Compensation Expense (2)	—		14		—		—		—		14		—		14
Stock Option Exercises	—		15		—		—		—		15		—		15

Other	—		—		—		—		(1)		(1)		1		—
Share Repurchases	—		—		—		—		(100)		(100)		—		(100)

Balance at June 30, 2024	$	2	$	2,417	$	9,694	$	(302)	$	(6,184)	$	5,627	$	72	$	5,699

(1)Cash dividends declared consists of cash dividends paid and dividends declared but unpaid.

(2)Share-based compensation expense is based on the fair value of share-based awards.



(Dollars in millions, except per share amount)	Common Stock at Par Value		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock at Cost		Total Eastman Stockholders' Equity		Noncontrolling Interest		Total Equity
Balance at December 31, 2024	$	2	$	2,463	$	10,013	$	(314)	$	(6,385)	$	5,779	$	73	$	5,852

Net Earnings	—		—		322		—		—		322		1		323
Cash Dividends Declared (1) ($1.66 per share)	—		—		(192)		—		—		(192)		—		(192)
Other Comprehensive Income (Loss)	—		—		—		(39)		—		(39)		—		(39)
Share-Based Compensation Expense (2)	—		25		—		—		—		25		—		25
Stock Option Exercises	—		2		—		—		—		2		—		2

Other (3)	—		(12)		—		—		—		(12)		—		(12)
Share Repurchases	—		—		—		—		(50)		(50)		—		(50)
Distributions to Noncontrolling Interest	—		—		—		—		—		—		(3)		(3)
Balance at June 30, 2025	$	2	$	2,478	$	10,143	$	(353)	$	(6,435)	$	5,835	$	71	$	5,906



(Dollars in millions, except per share amount)	Common Stock at Par Value		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock at Cost		Total Eastman Stockholders' Equity		Noncontrolling Interest		Total Equity
Balance at December 31, 2023	$	2	$	2,368	$	9,490	$	(319)	$	(6,083)	$	5,458	$	72	$	5,530

Net Earnings	—		—		395		—		—		395		1		396
Cash Dividends Declared (1) ($1.62 per share)	—		—		(191)		—		—		(191)		—		(191)
Other Comprehensive Income (Loss)	—		—		—		17		—		17		—		17
Share-Based Compensation Expense (2)	—		35		—		—		—		35		—		35
Stock Option Exercises	—		22		—		—		—		22		—		22

Other (3)	—		(8)		—		—		(1)		(9)				(9)
Share Repurchases	—		—		—		—		(100)		(100)		—		(100)
Distributions to Noncontrolling Interest	—		—		—		—		—		—		(1)		(1)
Balance at June 30, 2024	$	2	$	2,417	$	9,694	$	(302)	$	(6,184)	$	5,627	$	72	$	5,699

(1)Cash dividends declared consists of cash dividends paid and dividends declared but unpaid.

(2)Share-based compensation expense is based on the fair value of share-based awards.

(3)Additional paid-in capital includes the value of shares withheld for employees' taxes on vesting of share-based compensation awards

Accumulated Other Comprehensive Income (Loss)


(Dollars in millions)	Cumulative Translation Adjustment		Benefit Plans Unrecognized Prior Service Credits		Unrealized Gains (Losses) on Derivative Instruments		Unrealized Losses on Investments		Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2023	$	(297)	$	11	$	(32)	$	(1)	$	(319)
Period change	(20)		(8)		33		—		5
Balance at December 31, 2024	(317)		3		1		(1)		(314)
Period change	2		—		(41)		—		(39)
Balance at June 30, 2025	$	(315)	$	3	$	(40)	$	(1)	$	(353)

Schedule of components of comprehensive income (loss) before tax and net of tax effects

Components of OCI recognized in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings are presented below, before tax and net of tax effects:


	Second Quarter
	2025				2024
(Dollars in millions)	Before Tax		Net of Tax		Before Tax		Net of Tax
Other comprehensive income (loss)
Change in cumulative translation adjustment	$	(43)	$	(6)	$	15	$	9
Defined benefit pension and other postretirement benefit plans:

Amortization of unrecognized prior service credits	—		—		(2)		(2)

Derivatives and hedging:
Unrealized gain (loss) during period	(43)		(32)		4		3
Reclassification adjustment for (gains) losses included in net income, net	8		6		21		16

Total other comprehensive income (loss)	$	(78)	$	(32)	$	38	$	26

	First Six Months
	2025				2024
(Dollars in millions)	Before Tax		Net of Tax		Before Tax		Net of Tax
Other comprehensive income (loss)
Change in cumulative translation adjustment	$	(44)	$	2	$	11	$	(1)
Defined benefit pension and other postretirement benefit plans:

Amortization of unrecognized prior service credits	—		—		(5)		(4)

Derivatives and hedging:
Unrealized gain (loss) during period	(60)		(45)		9		7
Reclassification adjustment for (gains) losses included in net income, net	5		4		19		15

Total other comprehensive income (loss)	$	(99)	$	(39)	$	34	$	17

EASTMAN CHEMICAL CO 10-Q