Celanese (CE) 10-Q 29 Jul 09 2009 Q2 Quarterly report Financial data

0100 - Consolidated Statements

0100 - Consolidated Statements of Operations (USD $)
In Millions, except Share data	3 Months Ended Jun. 30, 2009	3 Months Ended Jun. 30, 2008	6 Months Ended Jun. 30, 2009	6 Months Ended Jun. 30, 2008
Consolidated Statements of Operations [Abstract]
Net sales	$1,244	$1,868	$2,390	$3,714
Cost of sales	(996)	(1,472)	(1,942)	(2,900)
Gross profit	248	396	448	814
Selling, general and administrative expenses	(114)	(138)	(228)	(274)
Amortization of intangible assets (primarily customer relationships)	(21)	(20)	(38)	(39)
Research and development expenses	(18)	(18)	(38)	(41)
Other (charges) gains, net	(6)	(7)	(27)	(23)
Foreign exchange gain (loss), net	1	(3)	3	4
Gain (loss) on disposition of businesses and assets, net	(1)	(3)	(4)	0
Operating profit	89	207	116	441
Equity in net earnings (loss) of affiliates	27	17	25	27
Interest expense	(54)	(63)	(105)	(130)
Interest income	2	10	5	19
Dividend income - cost investments	56	75	62	103
Other income (expense), net	2	1	3	5
Earnings (loss) from continuing operations before tax	122	247	106	465
Income tax (provision) benefit	(17)	(45)	(22)	(118)
Earnings (loss) from continuing operations	105	202	84	347
Earnings (loss) from operation of discontinued operations	(1)	(112)	0	(112)
Income tax (provision) benefit, discontinued operations	0	43	0	43
Earnings (loss) from discontinued operations	(1)	(69)	0	(69)
Net earnings (loss)	104	133	84	278
Less: Net earnings (loss) attributable to noncontrolling interests	0	(1)	0	(1)
Net earnings (loss) attributable to Celanese Corporation	104	134	84	279
Cumulative preferred stock dividends	(2)	(2)	(5)	(5)
Net earnings (loss) available to common shareholders	102	132	79	274
Amounts attributable to Celanese Corporation
Earnings (loss) from continuing operations, Celanese Corporation	105	203	84	348
Earnings (loss) from discontinued operations, Celanese Corporation	(1)	(69)	0	(69)
Net earnings (loss) attributable to Celanese Corporation	$104	$134	$84	$279
Earnings (loss) per common share - basic
Earnings (loss) per common share - basic, continuing operations	0.72	1.33	0.55	2.26
Earnings (loss) per common share - basic, discontinued operations	-0.01	-0.46	0	-0.45
Net earnings (loss) - basic	0.71	0.87	0.55	1.81
Earnings (loss) per common share - diluted
Earnings (loss) per common share - diluted, continuing operations	0.67	1.21	0.54	2.08
Earnings (loss) per common share - diluted, discontinued operations	-0.01	-0.41	0	-0.41
Net earnings (loss) - diluted	0.66	0.8	0.54	1.67
Weighted average shares - basic	143,528,126	150,905,770	143,517,588	151,449,762
Weighted average shares - diluted	157,077,970	167,814,803	156,355,049	167,561,793

0200 - Consolidated Balance She

0200 - Consolidated Balance Sheets (USD $)
In Millions	Jun. 30, 2009	Dec. 31, 2008
Current assets
Cash and cash equivalents	$1,145	$676
Trade receivables - third party and affiliates (net of allowance for doubtful accounts - 2009: $22; 2008: $25)	702	631
Non-trade receivables	231	274
Inventories	473	577
Deferred income tax assets, current	23	24
Marketable securities, at fair value, current	6	6
Assets held for sale	135	2
Other assets, current	63	96
Total current assets	2,778	2,286
Investments in affiliates	767	789
Property, plant and equipment (net of accumulated depreciation - 2009: $1,012; 2008: $1,053)	2,533	2,470
Deferred income tax assets, noncurrent	26	27
Marketable securities, at fair value, noncurrent	76	94
Other assets, noncurrent	327	357
Goodwill	788	779
Intangible assets, net	328	364
Total assets	7,623	7,166
Current liabilities
Short-term borrowings and current installments of long-term debt - third party and affiliates	224	233
Trade payables - third party and affiliates	557	523
Other liabilities, current	529	574
Deferred income tax liabilities, current	15	15
Income taxes payable	17	24
Total current liabilities	1,342	1,369
Long-term debt	3,268	3,300
Deferred income tax liabilities, noncurrent	123	122
Uncertain tax positions	229	218
Benefit obligations	1,159	1,167
Other liabilities, noncurrent	1,254	806
Shareholders' equity
Treasury stock, at cost (2009 and 2008: 20,601,686 shares)	(781)	(781)
Additional paid-in capital	501	495
Retained earnings	1,114	1,047
Accumulated other comprehensive income (loss), net	(588)	(579)
Total Celanese Corporation shareholders' equity	246	182
Noncontrolling interests	2	2
Total shareholders' equity	248	184
Total liabilities and shareholders' equity	7,623	7,166
Preferred stock
Shareholders' equity
Preferred stock, $0.01 par value, 100,000,000 shares authorized (2009 and 2008: 9,600,000 issued and outstanding)	0	0
Series A common stock
Shareholders' equity
Series A common stock, $0.0001 par value, 400,000,000 shares authorized (2009: 164,171,268 issued and 143,569,582 outstanding; 2008: 164,107,394 issued and 143,505,708 outstanding)	0	0
Series B common stock
Shareholders' equity
Series B common stock, $0.0001 par value, 100,000,000 shares authorized (2009 and 2008: 0 shares issued and outstanding)	$0	$0

0201 - Consolidated Balance She

0201 - Consolidated Balance Sheets (Parenthetical) (USD $)
In Millions, except Share data	Jun. 30, 2009	Dec. 31, 2008
Allowance for doubtful accounts	$22	$25
Accumulated depreciation	$1,012	$1,053
Treasury stock, shares	20,601,686	20,601,686
Preferred stock
Preferred stock, par value	0.01	0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	9,600,000	9,600,000
Preferred stock, shares, outstanding	9,600,000	9,600,000
Series A common stock
Series A common stock, par value	0.0001	0.0001
Series A common stock, shares authorized	400,000,000	400,000,000
Series A common stock, shares issued	164,171,268	164,107,394
Series A common stock, shares outstanding	143,569,582	143,505,708
Series B common stock
Series B common stock, par value	0.0001	0.0001
Series B common stock, shares authorized	100,000,000	100,000,000
Series B common stock, shares issued	0	0
Series B common stock, shares outstanding	0	0

0300 - Consolidated Statements

0300 - Consolidated Statements of Shareholders' Equity and Comprehensive Income (Loss) (USD $)
In Millions, except Share data	Preferred stock [Member] Preferred stock	Series A common stock [Member] Series A common stock	Treasury stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive income (loss), net [Member]	Noncontrolling interests [Member]	Total
Balance as of the beginning of the period, shares outstanding at Dec. 31, 2008	9,600,000	143,505,708	20,601,686
Balance as of the beginning of the period at Dec. 31, 2008	$0	$0	($781)	$495	$1,047	($579)	$2	$184
Increase (decrease) in shareholders' equity
Issuance of preferred stock, shares outstanding	0
Issuance of preferred stock	0							0
Stock-based compensation, net of tax				5				5
Stock option exercises, shares outstanding		41,101
Stock option exercises		0		1				1
Purchases of treasury stock, including related fees, shares outstanding		0	0
Purchases of treasury stock, including related fees		0	0					0
Stock awards, shares outstanding		22,773
Stock awards		0						0
Net earnings (loss) attributable to Celanese Corporation					84			84
Series A common stock dividends					(12)			(12)
Preferred stock dividends					(5)			(5)
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on securities						(13)		(13)
Foreign currency translation						(9)		(9)
Unrealized gain (loss) on interest rate swaps						14		14
Pension and postretirement benefits						(1)		(1)
Total Celanese Corporation shareholders' equity								246
Net earnings (loss) attributable to noncontrolling interests							0	0
Comprehensive income (loss)
Net earnings (loss)								84
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on securities						(13)		(13)
Foreign currency translation						(9)		(9)
Unrealized gain (loss) on interest rate swaps						14		14
Pension and postretirement benefits						(1)		(1)
Total comprehensive income (loss), net of tax								75
Comprehensive income (loss) attributable to noncontrolling interests								0
Comprehensive income (loss) attributable to Celanese Corporation								75
Balance as of the end of the period, shares outstanding at Jun. 30, 2009	9,600,000	143,569,582	20,601,686
Balance as of the end of the period at Jun. 30, 2009	$0	$0	($781)	$501	$1,114	($588)	$2	$248

0400 - Consolidated Statements

0400 - Consolidated Statements of Cash Flows (USD $)
In Millions	6 Months Ended Jun. 30, 2009	6 Months Ended Jun. 30, 2008
Operating activities
Net earnings (loss)	$84	$278
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities
Other (charges) gains, net of amounts used	(6)	5
Depreciation, amortization and accretion	156	178
Deferred income taxes, net	3	(8)
(Gain) loss on disposition of businesses and assets, net	3	(2)
Other adjustments, net	12	32
Operating cash provided by (used in) discontinued operations	1	5
Value-added tax on deferred proceeds from Ticona Kelsterbach plant relocation	0	59
Changes in operating assets and liabilities
Trade receivables - third party and affiliates, net	(70)	(14)
Inventories	75	(94)
Other assets	55	(1)
Change in trade payables - third party and affiliates	35	6
Other liabilities	(49)	(98)
Net cash provided by (used in) operating activities	299	346
Investing activities
Capital expenditures on property, plant and equipment	(96)	(136)
Acquisitions and related fees, net of cash acquired	0	(1)
Proceeds from sale of businesses and assets, net	(1)	3
Deferred proceeds on Ticona Kelsterbach plant relocation	412	311
Capital expenditures related to Ticona Kelsterbach plant relocation	(147)	(62)
Proceeds from sale of marketable securities	15	96
Purchases of marketable securities	0	(83)
Settlement of cross currency swap agreement	0	(93)
Other investing activities, net	0	(68)
Net cash provided by (used in) investing activities	183	(33)
Financing activities
Short-term borrowings (repayments), net	6	(47)
Proceeds from long-term debt	0	13
Repayments of long-term debt	(46)	(23)
Refinancing costs	(3)	0
Payments for purchases of treasury stock, including related fees	0	(126)
Proceeds from stock option exercises	1	17
Payment of series A common stock dividends	(12)	(12)
Payment of preferred stock dividends	(5)	(5)
Net cash provided by (used in) financing activities	(59)	(183)
Exchange rate effects on cash and cash equivalents	46	28
Net increase (decrease) in cash and cash equivalents	469	158
Cash and cash equivalents at beginning of period	676	825
Cash and cash equivalents at end of period	$1,145	$983

0501 - Description of the Compa

0501 - Description of the Company and Basis of Presentation
	6 Months Ended Jun. 30, 2009
Description of the Company and Basis of Presentation [Abstract]
Description of the Company and Basis of Presentation	1.Description of the Company and Basis of Presentation Description of the Company Celanese Corporation and its subsidiaries (collectively the Company) is a leading global integrated chemical and advanced materials company. The Companys business involves processing chemical raw materials, such as methanol, carbon monoxide and ethylene, and natural products, including wood pulp, into value-added chemicals, thermoplastic polymers and other chemical-based products. Basis of Presentation The unaudited interim consolidated financial statements for the three and six months ended June30, 2009 and 2008 contained in this Quarterly Report were prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) for all periods presented. The unaudited interim consolidated financial statements and other financial information included in this Quarterly Report, unless otherwise specified, have been presented to separately show the effects of discontinued operations. In the opinion of management, the accompanying unaudited consolidated balance sheets and related unaudited interim consolidated statements of operations, cash flows and shareholders equity and comprehensive income (loss) include all adjustments, consisting only of normal recurring items, necessary for their fair presentation in conformity with US GAAP. Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted in accordance with rules and regulations of the Securities and Exchange Commission (SEC). These unaudited interim consolidated financial statements should be read in conjunction with the Celanese Corporation and Subsidiaries consolidated financial statements as of and for the year ended December31, 2008, as filed on February13, 2009 with the SEC as part of the Companys Annual Report on Form10-K (the 2008 Form10-K). Operating results for the three and six months ended June30, 2009 and 2008 are not necessarily indicative of the results to be expected for the entire year. Estimates and Assumptions The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues, expenses and allocated charges during the reporting period. Significant estimates pertain to impairments of goodwill, intangible assets and other long-lived assets, purchase price allocations, restructuring costs and other (charges) gains, net, income taxes, pension and other postretirement benefits, asset retirement obligations, environmental liabilities and loss contingencies, among others. Actual results could differ from those estimates. Reclassifications The Company has reclassified certain prior period amounts to conform to the current periods presentation.

0502 - Recent Accounting Pronou

0502 - Recent Accounting Pronouncements
	6 Months Ended Jun. 30, 2009
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	2.Recent Accounting Pronouncements In December 2008, the Financial Accounting Standards Board (FASB) issued FASB Staff Position (FSP) No.FAS132(R)-1, Employers Disclosures about Postretirement Benefit Plan Assets, (FSP No.FAS132(R)-1). FSP No.FAS132(R)-1 requires enhanced disclosures about the plan assets of a Companys defined benefit pension and other postretirement plans intended to provide financial statement users with a greater understanding of: 1)how investment allocation decisions are made; 2)the major categories of plan assets; 3)the inputs and valuation techniques used to measure the fair value of plan assets; 4)the effect of fair value measurements using significant unobservable inputs on changes in plan assets for the period; and 5)significant concentrations of risk within plan assets. The Company adopted FSP FASNo.FAS132(R)-1 beginning January1, 2009. This FSP had no impact on the Companys financial position, results of operations or cash flows. In April 2009, the FASB issued FSP No.FAS141(R)-1, Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies, (FSP No.FAS141(R)-1). FSP No.FAS141(R)-1 amends FASB Statement No.141(R), Business Combinations, to address application issues related to the measurement, accounting and disclosure of assets and liabilities arising from contingencies in a business combination. The Company adopted FSP FASNo.141(R)-1 upon issuance. This FSP had no impact on the Companys financial position, results of operations or cash flows. In April 2009, the FASB issued FSP No.FAS157-4, Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly, (FSP No.FAS157-4). FSP No.FAS157-4 provides additional guidance for estimating fair value in accordance with FASB Statement No.157, Fair Value Measurements (SFASNo.157), and emphasizes that even if there has been a significant decrease in the volume and level of activity for the asset or liability and regardless of the valuation technique(s) used, the objective of a fair value measurement remains the same. The Company adopted FSP FASNo.157-4 beginning April1, 2009. This FSP had no material impact on the Companys financial position, results of operations or cash flows. In April 2009, the FASB issued FSP No.FAS107-1 and APB 28-1, Interim Disclosures about Fair Value of Financial Instruments, (FSP No.FAS107-1 and APB 28-1). FSP No.FAS107-1 and APB 28-1 amends FASB Statement No.107, Disclosures about Fair Value of Financial Instruments, to require disclosures about fair value of financial instruments for interim reporting periods of publicly traded companies as well as in annual financial statements and also amends Accounting Principles Board Opinion No.28, Interim Financial Reporting, to require those disclosures in summarized financial information at interim reporting periods. The Company adopted FSP FASNo.107-1 and APB 28-1 beginning April1, 2009. This FSP had no impact on the Companys financial position, results of operations or cash flows. In April 2009, the FASB issued FSP No.FAS115-

05035 - Asset Sales

05035 - Asset Sales
	6 Months Ended Jun. 30, 2009
Asset Sales [Abstract]
Asset Sales	3.Asset Sales In July 2007, the Company reached an agreement with Babcock Brown, a worldwide investment firm which specializes in real estate and utilities development, to sell the Companys Pampa, Texas, facility. The Company ceased its chemical operations at the site in December 2008. Proceeds received upon certain milestone events are treated as deferred proceeds and included in noncurrent Other liabilities in the Companys unaudited consolidated balance sheets until the transaction is complete (expected to be in 2010), as defined in the sales agreement. These operations are included in the Companys Acetyl Intermediates segment. At June30, 2009 and December31, 2008, Assets held for sale included an office building with a net book value of $2million.

0504 - Inventories

0504 - Inventories
	6 Months Ended Jun. 30, 2009
Inventories [Abstract]
Inventories Disclosure	4.Inventories As of June30, 2009 As of December31, 2008 (In $ millions) Finished goods........................ 342 434 Work-in-process...................... 24 24 Raw materials and supplies.... 107 119 Total......................................... 473 577

05046 - Marketable Securities,

05046 - Marketable Securities, at Fair Value
	6 Months Ended Jun. 30, 2009
Marketable Securities, at Fair Value [Abstract]
Marketable Securities, at Fair Value	5.Marketable Securities, at Fair Value The Companys captive insurance companies and pension-related trusts hold available-for-sale securities for capitalization and funding requirements, respectively. The Company received proceeds from sales of marketable securities and recorded realized gains (losses) to Other income (expense), net in the consolidated statements of operations as follows: Three Months Ended June30, Six Months Ended June30, 2009 2008 2009 2008 (In $ millions) Proceeds from sale of securities.......... 33 15 96 Realized gain on sale of securities...... 1 2 3 2 Realized loss on sale of securities....... (1) (3) Net realized gain (loss) on sale of securities............................................... 1 1 3 (1) The Company reviews all investments for other-than-temporary impairment at least quarterly or as indicators of impairment exist. Indicators of impairment include the duration and severity of the decline in fair value below carrying value as well as the intent and ability to hold the investment to allow for a recovery in the market value of the investment. In addition, the Company considers qualitative factors that include, but are not limited to: (i)the financial condition and business plans of the investee including its future earnings potential, (ii)the investees credit rating, and (iii)the current and expected market and industry conditions in which the investee operates. If a decline in the fair value of an investment is deemed by management to be other-than-temporary, the Company writes down the carrying value of the investment to fair value, and the amount of the write-down is included in net earnings. Such a determination is dependent on the facts and circumstances relating to each investment. No investments were determined to be other-than-temporarily impaired for the six months ended June30, 2009. All securities in an unrealized loss position have been in a loss position for less than twelve months. The amortized cost, gross unrealized gain, gross unrealized loss and fair values for available-for-sale securities by major security type were as follows: Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value (In $ millions) Debt securities US government.................................. 29 4 33 US corporate...................................... 1 1 Total debt securities.......................... 30 4 34 Equity securities.................................. 56 (13) 43 Money market deposits and other securities............................................. 5 5 As of June30, 2009........................... 91 4 (13) 82 Debt securities US government.................................. 35 17 52 US corporate......

0505 - Goodwill and Intangible

0505 - Goodwill and Intangible Assets, Net
	6 Months Ended Jun. 30, 2009
Goodwill and Intangible Assets, Net [Abstract]
Goodwill and Intangible Assets, Net	6.Goodwill and Intangible Assets, Net Goodwill Advanced Engineered Materials Consumer Specialties Industrial Specialties Acetyl Intermediates Other Total (In $ millions) As of December31, 2008............. 258 252 34 235 779 Exchange rate changes............... 2 4 3 9 As of June30, 2009..................... 260 256 34 238 788 Intangible Assets, Net Trademarks and Trade names Licenses Customer-Related Intangible Assets Developed Technology Other Total (In $ millions) Gross Asset Value As of December31, 2008......................... 82 29 537 12 12 672 Exchange rate changes........................... 7 7 As of June30, 2009................................ 82 29 544 12 12 679 Accumulated Amortization As of December31, 2008......................... (3) (285) (10) (10) (308) Amortization............................................ (3) (1) (33) (1) (38) Exchange rate changes........................... (5) (5) As of June30, 2009................................ (3) (4) (323) (10) (11) (351) Net book value as of June30, 2009......................................................... 79 25 221 2 1 328 Aggregate amortization expense for intangible assets with finite lives during the three months ended June30, 2009 and 2008 was $21million and $20million, respectively. Aggregate amortization expense for intangible assets with finite lives during the six months ended June30, 2009 and 2008 was $38million and $39million, respectively. During the three months ended June30, 2009 the Company accelerated amortization on the AT Plastics trade name which will be discontinued August1, 2009. The remaining net book value ($3million) of the AT Plastics trade name will be amortized through July31, 2009. Estimated amortization expense for the succeeding five fiscal years is $64million in 2010, $59million in 2011, $45million in 2012, $29million in 2013 and $19million in 2014. For the three and six months ended June30, 2009, the Company did not renew or extend any intangible assets.

0506 - Debt

0506 - Debt
	6 Months Ended Jun. 30, 2009
Debt [Abstract]
Debt	7.Debt As of June30, 2009 As of December31, 2008 (In $ millions) Short-term borrowings and current installments of long-term debt third party and affiliates Current installments of long-term debt..................................................................... 72 81 Short-term borrowings, principally comprised of amounts due to affiliates.............................................................. 152 152 Total................................................................... 224 233 Long-term debt Senior credit facilities: Term loan facility due 2014................................................. 2,789 2,794 Term notes7.125%, due 2009........................... 14 Pollution control and industrial revenue bonds, interest rates ranging from 5.7% to 6.7%, due at various dates through 2030........................................... 181 181 Obligations under capital leases and other secured and unsecured borrowings due at various dates through 2054................. 203 211 Other bank obligations, interest rates ranging from 3.0% to 5.3%, due at various dates through 2014............................. 167 181 Subtotal............................................................. 3,340 3,381 Less: Current installments of long-term debt..................................................................... 72 81 Total................................................................... 3,268 3,300 Senior Credit Facilities The Companys senior credit agreement consists of $2,280million of US dollar-denominated and 400million of Euro-denominated term loans due 2014, a $600million revolving credit facility terminating in 2013 and a $228million credit-linked revolving facility terminating in 2014. Borrowings under the senior credit agreement bear interest at a variable interest rate based on LIBOR (for US dollars) or EURIBOR (for Euros), as applicable, or, for US dollar-denominated loans under certain circumstances, a base rate, in each case plus an applicable margin. The applicable margin for the term loans and any loans under the credit-linked revolving facility is 1.75%, subject to potential reductions as defined in the senior credit agreement. As of June30, 2009 the applicable margin was 1.75%. The term loans under the senior credit agreement are subject to amortization at 1% of the initial principal amount per annum, payable quarterly. The remaining principal amount of the term loans is due on April2, 2014. As of June30, 2009, there were $89million of letters of credit issued under the credit-linked revolving facility and $139million remained available for borrowing. As of June30, 2009, there were no outstanding borrowings or letters of credit issued under the revolving credit facility. On June30, 2009, the Company entered into an amendment to the senior credi

0507 - Other Liabilities

0507 - Other Liabilities
	6 Months Ended Jun. 30, 2009
Other Liabilities [Abstract]
Other Liabilities	8.Other Liabilities The components of current Other liabilities are as follows: As of June30, 2009 As of December31, 2008 (In $ millions) Salaries and benefits................................... 92 107 Environmental.............................................. 17 19 Restructuring............................................... 25 32 Insurance...................................................... 33 34 Asset retirement obligations..................... 8 9 Derivatives................................................... 79 67 Current portion of benefit obligations.................................................. 61 57 Interest.......................................................... 26 54 Sales and use tax/foreign withholding tax payable.................................................. 11 16 Uncertain tax positions.............................. 5 Other............................................................. 172 179 Total............................................................. 529 574 The components of noncurrent Other liabilities are as follows: As of June30, 2009 As of June30, 2008 (In $ millions) Environmental.................................................. 84 79 Insurance.......................................................... 93 85 Deferred revenue............................................. 52 56 Deferred proceeds (see Notes3 and 19)..................................................................... 830 370 Asset retirement obligations......................... 37 40 Derivatives....................................................... 54 76 Other................................................................. 104 100 Total................................................................. 1,254 806

0508 - Benefit Obligations

0508 - Benefit Obligations
	6 Months Ended Jun. 30, 2009
Benefit Obligations [Abstract]
Benefit Obligations	9.Benefit Obligations The components of net periodic benefit costs recognized are as follows: Pension Benefits Postretirement Benefits Pension Benefits Postretirement Benefits Three Months Ended June30, Six Months Ended June30, 2009 2008 2009 2008 2009 2008 2009 2008 (In $ millions) Service cost....................................... 7 9 1 1 14 16 1 1 Interest cost...................................... 48 57 4 5 95 99 8 9 Expected return on plan assets...... (52) (64) (102) (111) Recognized actuarial (gain) loss.... 1 (2) (1) 1 (3) (2) Settlement (gain) loss...................... 1 1 Total.................................................. 5 2 3 5 9 4 6 8 The Company expects to contribute $40million to its defined benefit pension plans in 2009. As of June30, 2009, $19million of contributions have been made. The Companys estimates of its US defined benefit pension plan contributions reflect the provisions of the Pension Funding Equity Act of 2004 and the Pension Protection Act of 2006. The Company expects to make benefit payments of $35million under the provisions of its other postretirement benefit plans in 2009. As of June30, 2009, $14million of benefit payments have been made. The Company participates in multiemployer defined benefit plans in Europe covering certain employees. The Companys contributions to the multiemployer defined benefit plans are based on specified percentages of employee contributions and totaled $4million for the six months ended June30, 2009.

05085 - Environmental

05085 - Environmental
	6 Months Ended Jun. 30, 2009
Environmental [Abstract]
Environmental	10.Environmental General The Company is subject to environmental laws and regulations worldwide which impose limitations on the discharge of pollutants into the air and water and establish standards for the treatment, storage and disposal of solid and hazardous wastes. The Company believes that it is in substantial compliance with all applicable environmental laws and regulations. The Company is also subject to retained environmental obligations specified in various contractual agreements arising from divestiture of certain businesses by the Company or one of its predecessor companies. The Companys environmental reserves for remediation matters were $101million and $98million as of June30, 2009 and December31, 2008, respectively. Remediation Due to its industrial history and through retained contractual and legal obligations, the Company has the obligation to remediate specific areas on its own sites as well as on divested, orphan or US Superfund sites (as defined below). In addition, as part of the demerger agreement between the Company and Hoechst AG (Hoechst), a specified portion of the responsibility for environmental liabilities from a number of Hoechst divestitures was transferred to the Company. The Company provides for such obligations when the event of loss is probable and reasonably estimable. The Company believes that environmental remediation costs will not have a material adverse effect on the financial position of the Company, but may have a material adverse effect on the results of operations or cash flows in any given accounting period. US Superfund Sites In the US, the Company may be subject to substantial claims brought by US federal or state regulatory agencies or private individuals pursuant to statutory authority or common law. In particular, the Company has a potential liability under the US Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, and related state laws (collectively referred to as Superfund) for investigation and cleanup costs at approximately 50 sites. At most of these sites, numerous companies, including certain companies comprising the Company, or one of its predecessor companies, have been notified that the Environmental Protection Agency, state governing bodies or private individuals consider such companies to be potentially responsible parties (PRP) under Superfund or related laws. The proceedings relating to these sites are in various stages. The cleanup process has not been completed at most sites and the status of the insurance coverage for most of these proceedings is uncertain. Consequently, the Company cannot determine accurately its ultimate liability for investigation or cleanup costs at these sites. As events progress at each site for which it has been named a PRP, the Company accrues, as appropriate, a liability for site cleanup. Such liabilities include all costs that are probable and can be reasonably estimated. In establishing these liabilities, the Company considers its shipment of waste to a site, its percentage of total waste shipped to the site, the types of wastes involved, the conclusions of any stu

0509 - Shareholders' Equity

0509 - Shareholders' Equity
	6 Months Ended Jun. 30, 2009
Shareholders' Equity [Abstract]
Shareholders' Equity	11.Shareholders Equity Treasury Stock In February 2008, the Companys Board of Directors authorized the repurchase of up to $400million of the Companys SeriesA common stock. This authorization was increased to $500million in October 2008. The authorization gives management discretion in determining the conditions under which shares may be repurchased. As of June30, 2009, the Company had repurchased 9,763,200shares of its SeriesA common stock pursuant to this authorization. During the six months ended June30, 2009, the Company did not repurchase any shares of its SeriesA common stock. During the six months ended June30, 2008, the Company repurchased 2,948,900shares of its SeriesA common stock at an average purchase price of $42.71 per share. Purchases of treasury stock reduce the number of shares outstanding and the repurchased shares may be used by the Company for compensation programs utilizing the Companys stock and other corporate purposes. The Company accounts for treasury stock using the cost method and includes treasury stock as a component of Shareholders equity. Other Comprehensive Income (Loss), Net Adjustments to net earnings (loss) to calculate other comprehensive income (loss) totaled $(9)million and $9million for the six months ended June30, 2009 and 2008, respectively. These amounts were net of tax benefit of $1million and $0million for the six months ended June30, 2009 and 2008, respectively. Adjustments to net earnings (loss) for comprehensive income (loss) totaled $102million and $42million for the three months ended June30, 2009 and 2008, respectively. These amounts were net of tax benefit of $1million and $0million for the three months ended June30, 2009 and 2008, respectively.

0510 - Commitments and Continge

0510 - Commitments and Contingencies
	6 Months Ended Jun. 30, 2009
Commitments and Contingencies [Abstract]
Commitments and Contingencies	12.Commitments and Contingencies The Company is involved in a number of legal proceedings, lawsuits and claims incidental to the normal conduct of business, relating to such matters as product liability, antitrust, past waste disposal practices and release of chemicals into the environment. While it is impossible at this time to determine with certainty the ultimate outcome of these proceedings, lawsuits and claims, the Company is actively defending those matters where the Company is named as a defendant. Additionally, the Company believes it has determined its best estimate, based on the advice of legal counsel, that adequate reserves have been made and that the ultimate outcomes will not have a material adverse effect on the financial position of the Company; however, the ultimate outcome of any given matter may have a material impact on the results of operations or cash flows of the Company in any given reporting period. Plumbing Actions CNA Holdings, LLC (CNA Holdings), a US subsidiary of the Company, which included the US business now conducted by the Ticona business included in the Advanced Engineered Materials segment, along with Shell Oil Company (Shell), E.I. DuPont de Nemours and Company (DuPont) and others, has been a defendant in a series of lawsuits, including a number of class actions, alleging that plastics manufactured by these companies that were utilized in the production of plumbing systems for residential property were defective or caused such plumbing systems to fail. Based on, among other things, the findings of outside experts and the successful use of Ticonas acetal copolymer in similar applications, CNA Holdings does not believe Ticonas acetal copolymer was defective or caused the plumbing systems to fail. In many cases CNA Holdings potential future exposure may be limited by invocation of the statute of limitations since CNA Holdings ceased selling the resin for use in the plumbing systems in site-built homes during 1986 and in manufactured homes during 1990. In November 1995, CNA Holdings, DuPont and Shell entered into national class action settlements which called for the replacement of plumbing systems of claimants who have had qualifying leaks, as well as reimbursements for certain leak damage. In connection with such settlements, the three companies had agreed to fund these replacements and reimbursements up to an aggregate amount of $950million. In 2002, based on projections that the cap would be exceeded, Shell and the Company added $75million for a total of $1.025billion. The cap was further increased by $78million to $1.103billion primarily as a result of funds transferred from the US Brass Trust. Additional funds transferred from the US Brass Trust may further increase the cap in the future. Excess funds remaining upon complete dissolution of the class action are payable to Shell and the Company. During the period between 1995 and 2001, CNA Holdings was also named as a defendant in the following putative class actions: Cox, et al. v. Hoechst Celanese Corporation, et al., No.94-0047 (Chancery Ct., Obion County, Tennessee) (class was certified). Couture, et al. v. She

05105 - Derivative Financial In

05105 - Derivative Financial Instruments
	6 Months Ended Jun. 30, 2009
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	13.Derivative Financial Instruments To reduce the interest rate risk inherent in the Companys variable rate debt, the Company utilizes interest rate swap agreements to convert a portion of the variable rate debt to a fixed rate obligation. These interest rate swap agreements are designated as cash flow hedges. The notional value of the Companys US dollar interest rate swap agreements at June30, 2009 and December31, 2008 was $1.6billion and $1.8billion, respectively. The notional value of the Companys Euro interest rate swap agreement was 150million at both June30, 2009 and December31, 2008. If an interest rate swap agreement is terminated prior to its maturity, the amount previously recorded in Accumulated other comprehensive income (loss), net is recognized into earnings over the period that the hedged transaction impacts earnings. If the hedging relationship is discontinued because it is probable that the forecasted transaction will not occur according to the original strategy, any related amounts previously recorded in Accumulated other comprehensive income (loss), net are recognized into earnings immediately. To protect the foreign currency exposure of a net investment in a foreign operation, the Company entered into cross currency swaps with certain financial institutions in 2004. The cross currency swaps and the Euro-denominated portion of the senior term loan were designated as a hedge of a net investment of a foreign operation. Under the terms of the cross currency swap arrangements, the Company paid approximately 13million in interest and received approximately $16million in interest on June 15 and December 15 of each year. Upon maturity of the cross currency swap agreements in June 2008, the Company owed 276million ($426million) and was owed $333million. In settlement of the obligation, the Company paid $93million (net of interest of $3million) in June 2008. During the year ended December31, 2008, the Company dedesignated 385million of the 400 Euro-denominated portion of the term loan, previously designated as a hedge of a net investment of a foreign operation. The remaining 15million Euro-denominated portion of the term loan was dedesignated as a hedge of a net investment of a foreign operation in June 2009. Prior to the dedesignations, the Company had been using external derivative contracts to offset foreign currency exposures on certain intercompany loans. As a result of the dedesignations, the foreign currency exposure created by the Euro-denominated term loan is expected to offset the foreign currency exposure on certain intercompany loans, decreasing the need for external derivative contracts and reducing the Companys exposure to external counterparties. The Company enters into foreign currency forwards and swaps to minimize its exposure to foreign currency fluctuations. Through these instruments, the Company mitigates its foreign currency exposure on transactions with third party entities as well as intercompany transactions. The forward currency forwards and swaps are not designated as hedges under SFASNo.133, Accounting for Derivative Instruments and Hedging Activities (SFASNo.133). Gains and

0511 - Fair Value Measurements

0511 - Fair Value Measurements
	6 Months Ended Jun. 30, 2009
Fair Value Measurements [Abstract]
Fair Value Measurements	14.Fair Value Measurements On January1, 2009, the Company adopted the provisions of SFASNo.157 for nonrecurring fair value measurements of non-financial assets and liabilities, such as goodwill, indefinite-lived intangible assets, property, plant and equipment and asset retirement obligations. The adoption did not have a material impact on the Companys financial position, results of operations or cash flows. SFASNo.157 establishes a three-tiered fair value hierarchy that prioritizes inputs to valuation techniques used in fair value calculations. The three levels of inputs are defined as follows: Level1 unadjusted quoted prices for identical assets or liabilities in active markets accessible by the Company Level2 inputs that are observable in the marketplace other than those inputs classified as Level1 Level3 inputs that are unobservable in the marketplace and significant to the valuation SFASNo.157 requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs. If a financial instrument uses inputs that fall in different levels of the hierarchy, the instrument will be categorized based upon the lowest level of input that is significant to the fair value calculation. The Companys financial assets and liabilities are measured at fair value on a recurring basis and include securities available for sale and derivative financial instruments. Securities available for sale include US government and corporate bonds, mortgage-backed securities and equity securities. Derivative financial instruments include interest rate swaps and foreign currency forwards and swaps. Marketable Securities.Where possible, the Company utilizes quoted prices in active markets to measure debt and equity securities; such items are classified as Level1 in the hierarchy and include equity securities and US government bonds. When quoted market prices for identical assets are unavailable, varying valuation techniques are used. Common inputs in valuing these assets include, among others, benchmark yields, issuer spreads, forward mortgage-backed securities trade prices and recently reported trades. Such assets are classified as Level2 in the hierarchy and typically include mortgage-backed securities, corporate bonds and other US government securities. Derivatives.Derivative financial instruments are valued in the market using discounted cash flow techniques. These techniques incorporate Level1 and Level2 inputs such as interest rates and foreign currency exchange rates. These market inputs are utilized in the discounted cash flow calculation considering the instruments term, notional amount, discount rate and credit risk. Significant inputs to the derivative valuation for interest rate swaps and foreign currency forwards and swaps are observable in the active markets and are classified as Level2 in the hierarchy. The following fair value hierarchy tables present information about the Companys assets and liabilities measured at fair value on a recurring basis: Fair Value Measurement Using Quoted Prices in Active Markets for Identical Assets (Level 1)

0512 - Other

0512 - Other (Charges) Gains, Net
	6 Months Ended Jun. 30, 2009
Other (Charges) Gains, Net [Abstract]
Other (Charges) Gains, Net	15.Other (Charges) Gains, Net The components of Other (charges) gains, net are as follows: Three Months Ended June30, Six Months Ended June30, 2009 2008 2009 2008 (In $ millions) Employee termination benefits...................... (5) (4) (29) (11) Plant/office closures....................................... (7) Ticona Kelsterbach plant relocation (see Note19)............................................................ (3) (3) (6) (5) Plumbing actions............................................. 2 3 Insurance recoveries associated with Clear Lake, Texas............................................ 6 Asset impairments........................................... (1) Total................................................................. (6) (7) (27) (23) During the first quarter of 2009, the Company began efforts to align production capacity and staffing levels with the Companys view of an economic environment of prolonged lower demand. For the six months ended June30, 2009, Other charges included employee termination benefits of $28million related to this endeavor. As a result of the shutdown of the vinyl acetate monomer (VAM) production unit in Cangrejera, Mexico, the Company recognized employee termination benefits of $1million and long-lived asset impairment losses of $1million during the six months ended June30, 2009. The VAM production unit in Cangrejera, Mexico is included in the Companys Acetyl Intermediates segment. Other charges for the six months ended June30, 2009 was partially offset by $6million of insurance recoveries in satisfaction of claims the Company made related to the unplanned outage of the Companys Clear Lake, Texas acetic acid facility during 2007, a $2million decrease in legal reserves for plumbing claims for which the statute of limitations has expired and $1million of insurance recoveries associated with plumbing cases. Employee termination benefits during 2008 related primarily to the Companys strategy to simplify and optimize its business portfolio. Plant/office closures during 2008 included accelerated depreciation expense related to the shutdown of the Companys Pampa, Texas facility. The changes in the restructuring reserves by business segment are as follows: Advanced Engineered Materials Consumer Specialties Industrial Specialties Acetyl Intermediates Other Total (In $ millions) Employee Termination Benefits Employee termination benefits reserve as of December31, 2008....................................... 2 2 6 17 2 29 Restructuring additions................................... 10 3 3 6 7 29 Cash payments................................................. (4) (2) (6) (19) (3) (34) Employee termination be

0513 - Income Taxes

0513 - Income Taxes
	6 Months Ended Jun. 30, 2009
Income Taxes [Abstract]
Income Taxes	16.Income Taxes The Companys effective income tax rate for the three months ended June30, 2009 was 14% compared to 18% for the three months ended June30, 2008. The Companys effective income tax rate for the six months ended June30, 2009 was 21% compared to 25% for the six months ended June30, 2008. The decrease in the effective rate is primarily due to a decrease in additions to liabilities for unrecognized tax benefits and related interest, partially offset by an increase in valuation allowances on certain foreign net deferred tax assets and lower earnings in jurisdictions participating in tax holidays. Liabilities for unrecognized tax benefits and related interest and penalties are recorded in Uncertain tax positions and current Other liabilities in the consolidated balance sheets. For the six months ended June30, 2009, the total unrecognized tax benefits, interest and penalties increased by $16million of which $4million related to currency translation adjustments. The Company expects to resolve certain tax matters within the next twelve months due to the conclusion of tax examinations. As of June30, 2009 there was a $5million reserve for uncertain tax positions included in current Other liabilities. Equity in net earnings (loss) of affiliates included $19million in earnings related to a one-time reversal of deferred tax liabilities associated with the Companys Polyplastics Co., Ltd equity-method investee due to a foreign tax law enactment. The Companys Polyplastics Co., Ltd equity-method investment is included in the Advanced Engineered Materials segment.

0514 - Business Segments

0514 - Business Segments
	6 Months Ended Jun. 30, 2009
Business Segments [Abstract]
Business Segments	17.Business Segments Advanced Engineered Materials Consumer Specialties Industrial Specialties Acetyl Intermediates Other Activities Eliminations Consolidated (In $ millions) Three months ended June30, 2009 Net sales.......................................................... 184 280 267 622(1) 1 (110) 1,244 Other (charges) gains, net............................ (4) (3) (1) 2 (6) Equity in net earnings (loss) of affiliates.......................................................... 23 1 3 27 Earnings (loss) from continuing operations before tax.................................... 23 119 19 44 (83) 122 Depreciation and amortization..................... 19 12 14 32 2 79 Capital expenditures(3).................................. 6 10 16 9 1 42 Three months ended June30, 2008 Net sales.......................................................... 300 292 386 1,067(1) 1 (178) 1,868 Other (charges) gains, net............................ (3) (1) (2) (1) (7) Equity in net earnings (loss) of affiliates.......................................................... 11 1 1 4 17 Earnings (loss) from continuing operations before tax.................................... 48 94 20 181 (96) 247 Depreciation and amortization..................... 19 13 14 34 2 82 Capital expenditures(4).................................. 14 10 18 17 1 60 Six months ended June30, 2009 Net sales.......................................................... 349 546 509 1,194(2) 1 (209) 2,390 Other (charges) gains, net............................ (13) (3) (3) (1) (7) (27) Equity in net earnings (loss) of affiliates.......................................................... 15 1 3 6 25 Earnings (loss) from continuing operations before tax.................................... (4) 188 29 60 (167) 106 Depreciation and amortization..................... 36 24 27 59 4 150 Capital expenditures(3).................................. 10 18 26 17 1 72 Goodwill and intangible assets.................... 391 305 66 354 1,116 Total assets..................................................... 1,965 1,115 924 1,945

0515 - Earnings Per Share

0515 - Earnings Per Share
	6 Months Ended Jun. 30, 2009
Earnings Per Share [Abstract]
Earnings Per Share	18.Earnings Per Share Three Months Ended June30, 2009 2008 Basic Diluted Basic Diluted (In $ millions, except for share and per share data) Amounts attributable to Celanese Corporation Earnings (loss) from continuing operations.......................................................... 105 105 203 203 Earnings (loss) from discontinued operations.......................................................... (1) (1) (69) (69) Net earnings (loss)............................................ 104 104 134 134 Less: cumulative preferred stock dividends............................................................ (2) (2) Net earnings (loss) available to common shareholders..................................................... 102 104 132 134 Weighted-average shares basic................ 143,528,126 143,528,126 150,905,770 150,905,770 Dilutive stock options....................................... 1,020,493 4,089,106 Dilutive restricted stock units.......................... 445,014 768,053 Assumed conversion of preferred stock.................................................................... 12,084,337 12,051,874 Weighted-average shares diluted................................................................ 157,077,970 167,814,803 Per share Earnings (loss) from continuing operations.......................................................... 0.72 0.67 1.33 1.21 Earnings (loss) from discontinued operations.......................................................... (0.01) (0.01) (0.46) (0.41) Net earnings (loss)............................................ 0.71 0.66 0.87 0.80 Six Months Ended June30, 2009 2008 Basic Diluted Basic Diluted (In $ millions, except for share and per share data) Amounts attributable to Celanese Corporation Earnings (loss) from continuing operations.......................................................... 84 84 348 348 Earnings (loss) from discontinued operations.......................................................... (69) (69) Net earnings (loss)............................................ 84 84 279 279 Less: cumulative preferred stock dividends............................................................ (5) (5) Net earnings (loss) available to common shareholders..................................................... 79 84 274 279 Weighted-average shares basic................ 143,517,588 143,517,588 151,449,762 151,449,762 D

0516 - Ticona Kelsterbach Plant

0516 - Ticona Kelsterbach Plant Relocation
	6 Months Ended Jun. 30, 2009
Ticona Kelsterbach Plant Relocation [Abstract]
Ticona Kelsterbach Plant Relocation	19.Ticona Kelsterbach Plant Relocation In 2007, the Company finalized a settlement agreement with the Frankfurt, Germany, Airport (Fraport) to relocate the Kelsterbach, Germany Ticona business, included in the Advanced Engineered Materials segment, resolving several years of legal disputes related to the planned Fraport expansion. As a result of the settlement, the Company will transition Ticonas operations from Kelsterbach to the Hoechst Industrial Park in the Rhine Main area in Germany by mid-2011. Under the original agreement, Fraport agreed to pay Ticona a total of 670million over a five-year period to offset the costs associated with the transition of the business from its current location and the closure of the Kelsterbach plant. In February 2009, the Company announced the Fraport supervisory board approved the acceleration of the 2009 and 2010 payments of 200million and 140million, respectively, required by the settlement agreement signed in June 2007. In February 2009, the Company received a discounted amount of 322million ($412million) under this agreement. Amounts received from Fraport are accounted for as deferred proceeds and are included in noncurrent Other liabilities in the unaudited consolidated balance sheets. In addition, the Company received 59million ($75million) in value-added tax from Fraport which was remitted to the tax authorities in April 2009. Below is a summary of the financial statement impact associated with the Ticona Kelsterbach plant relocation: Six Months Ended June30, Total From Inception Through 2009 2008 June30, 2009 (In $ millions) Proceeds received from Fraport.... 412 311 749 Costs expensed................................ 6 5 23 Costs capitalized(1)......................... 162 62 405 (1) Includes an increase in accrued capital expenditures of $15million for the six months ended June30, 2009 and no change in accrued capital expenditures for the six months ended June30, 2008.

0519 - Subsequent Events

0519 - Subsequent Events
	6 Months Ended Jun. 30, 2009
Subsequent Events [Abstract]
Subsequent Events	20.Subsequent Events On July2, 2009, the Company declared a cash dividend of $0.265625 per share on its 4.25% convertible perpetual preferred stock amounting to $3million and a cash dividend of $0.04 per share on its SeriesA common stock amounting to $6million. Both cash dividends are for the period from May1, 2009 to July31, 2009 and will be paid on August3, 2009 to holders of record as of July15, 2009. On July1, 2009, the Company announced the completion of the sale of its polyvinyl alcohol (PVOH) business to Sekisui Chemical Co., Ltd. for a cash purchase price of approximately $173million, excluding the value of accounts receivable and payable retained by the Company. The transaction includes long-term supply agreements between both companies. This transaction is not expected to be material to the financial position of the Company, but may be material to the results of operations for any given period. The PVOH business is included in the Industrial Specialties segment. Included in Assets held for sale at June30, 2009 is $96million of property, plant, and equipment and $37million of inventories related to the sale of the PVOH business. On July8, 2009, the Company announced that its wholly-owned French subsidiary, Acetex Chimie, had completed the consultation procedure with the workers council on its Project of Closure and social plan related to the Companys Pardies, France facility pursuant to which the Company announced its formal intent to cease all manufacturing operations there and its associated activities. The Company has agreed with the workers council on a set of measures of assistance aimed at minimizing the effects of the plants closing on the Pardies workforce, including training, outplacement, and severance. As a result of the Project of Closure, the Company expects to record exit costs of $90million to $100million, primarily in the second half of 2009, consisting of $70million in personnel-related exit costs and $20million to $30million of other facility-related shutdown costs, which include demolition, remediation, contract termination costs and accelerated depreciation of fixed assets. The Pardies facility is included in the Acetyl Intermediates segment. Subsequent events have been evaluated through the date of issuance, July29, 2009.

0900 - Document And Entity Info

0900 - Document And Entity Information (USD $)
	6 Months Ended Jun. 30, 2009	Jul. 23, 2009	Jun. 30, 2008
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Amendment Description	N/A
Document Period End Date	2009-06-30
Entity Registrant Name	CELANESE CORPORATION
Entity Central Index Key	0001306830
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$6,927,608,530
Entity Common Stock, Shares Outstanding		143,579,582