DEI Document
DEI Document - USD ($) $ in Billions | 12 Months Ended | |
Dec. 31, 2017 | Jun. 30, 2017 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2017 | |
Entity Registrant Name | DUPONT E I DE NEMOURS & CO | |
Entity Central Index Key | 30,554 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | FY | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Public Float | $ 70 | |
Entity Common Stock, Shares Outstanding | 100 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Net Sales | $ 7,053 | |||
Cost of Goods Sold | 6,165 | |||
Research and Development Expense | 473 | |||
Selling, General and Administrative Expense | 1,101 | |||
Amortization of Intangible Assets | 389 | |||
Restructuring and Asset Related Charges - Net | 180 | |||
Integration and Separation Costs | 314 | |||
Sundry income - net | 90 | |||
Interest Expense | 107 | |||
(Loss) Income from continuing operations before income taxes | (1,586) | |||
(Benefit from) provision for income taxes on continuing operations | (2,673) | |||
Income from continuing operations after income taxes | 1,087 | |||
(Loss) Income from discontinued operations after income taxes | (77) | |||
Net income | 1,010 | |||
Net income attributable to noncontrolling interests | 0 | |||
Net income attributable to DuPont | $ 1,010 | |||
Predecessor [Member] | ||||
Net Sales | $ 17,281 | $ 23,209 | $ 23,657 | |
Cost of Goods Sold | 10,205 | 13,955 | 14,591 | |
Other Operating Charges | 504 | 667 | 434 | |
Research and Development Expense | 1,064 | 1,502 | 1,735 | |
Selling, General and Administrative Expense | 3,306 | 4,143 | 4,428 | |
Amortization of Intangible Assets | 139 | 319 | 362 | |
Restructuring and Asset Related Charges - Net | 323 | 556 | 795 | |
Integration and Separation Costs | 581 | 386 | 10 | |
Sundry income - net | 166 | 707 | 690 | |
Interest Expense | 254 | 370 | 342 | |
(Loss) Income from continuing operations before income taxes | 1,791 | 2,723 | 2,022 | |
(Benefit from) provision for income taxes on continuing operations | 149 | 641 | 575 | |
Income from continuing operations after income taxes | 1,642 | 2,082 | 1,447 | |
(Loss) Income from discontinued operations after income taxes | 119 | 443 | 512 | |
Net income | 1,761 | 2,525 | 1,959 | |
Net income attributable to noncontrolling interests | 20 | 12 | 6 | |
Net income attributable to DuPont | $ 1,741 | $ 2,513 | $ 1,953 | |
Basic earnings per share of common stock from continuing operations | $ 1.86 | $ 2.36 | $ 1.60 | |
Basic earnings per share of common stock from discontinued operations | 0.13 | 0.51 | 0.57 | |
Basic earnings per share of common stock | 2 | 2.87 | 2.17 | |
Diluted earnings per share of common stock from continuing operations | 1.85 | 2.35 | 1.59 | |
Diluted earnings per share of common stock from discontinued operations | 0.13 | 0.50 | 0.57 | |
Diluted earnings per share of common stock | 1.99 | 2.85 | 2.16 | |
Dividends declared per share of common stock | $ 1.14 | $ 1.52 | $ 1.72 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Predecessor [Member] | ||||
Net income | $ 1,761 | $ 2,525 | $ 1,959 | |
Unrealized gains on Investments | 0 | 20 | (19) | |
Cumulative Translation Adjustments | 1,042 | (510) | (1,605) | |
Derivatives Instruments | (10) | 31 | (18) | |
Other Comprehensive Income (Loss), Net of Tax | 1,289 | (515) | (1,308) | |
Comprehensive Income | 3,050 | 2,010 | 651 | |
Comprehensive Income Attributable to Noncontrolling Interest | 20 | 12 | 6 | |
Comprehensive Income Attributable to DuPont | 3,030 | 1,998 | 645 | |
Successor [Member] | ||||
Net income | $ 1,010 | |||
Unrealized gains on Investments | 0 | |||
Cumulative Translation Adjustments | (454) | |||
Derivatives Instruments | (2) | |||
Other Comprehensive Income (Loss), Net of Tax | (381) | |||
Comprehensive Income | 629 | |||
Comprehensive Income Attributable to Noncontrolling Interest | 0 | |||
Comprehensive Income Attributable to DuPont | 629 | |||
Pension Plan | Predecessor [Member] | ||||
Adjustments to benefit plans | 247 | 323 | 574 | |
Pension Plan | Successor [Member] | ||||
Adjustments to benefit plans | 128 | |||
Other Benefit Plans | Predecessor [Member] | ||||
Adjustments to benefit plans | $ 10 | $ (379) | $ (240) | |
Other Benefit Plans | Successor [Member] | ||||
Adjustments to benefit plans | $ (53) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | |||
Cash and Cash Equivalents | $ 7,250 | ||
Marketable Securities | 952 | ||
Accounts and notes receivable - net | 5,239 | ||
Inventories | 8,633 | ||
Other current assets | 981 | ||
Assets held for sale- current | 0 | ||
Total current assets | 23,055 | ||
Investments in nonconsolidated affiliates | 1,595 | ||
Property, Plant and Equipment, Gross | 12,878 | ||
Accumulated Depreciation | 443 | ||
Property, Plant and Equipment, Net | 12,435 | ||
Goodwill | 45,589 | ||
Other intangible assets | 27,726 | ||
Deferred Income Taxes | 480 | ||
Other Assets | 2,084 | ||
Total Assets | 112,964 | ||
Short-term borrowings and capital lease obligations | 2,779 | ||
Accounts Payable | 4,831 | ||
Income Taxes Payable | 149 | ||
Accrued and other current liabilities | 4,384 | ||
Liabilities held for sale - current | 0 | ||
Total current liabilities | 12,143 | ||
Long-term Debt | [1] | 10,291 | |
Deferred Income Tax Liabilities | 5,836 | ||
Pension and other post employment benefits - noncurrent | 7,787 | ||
Other noncurrent obligations | 1,975 | ||
Liabilities, Noncurrent | 25,889 | ||
Common Stock, Value, Issued | 0 | ||
Additional Paid in Capital | 74,727 | ||
Retained earnings | 175 | ||
Accumulated other comprehensive loss | (381) | ||
Treasury Stock, Value | 0 | ||
Total DuPont Stockholders' Equity | 74,760 | ||
Noncontrolling Interests | 172 | ||
Total Stockholders' Equity | 74,932 | ||
Total Liabilities and Equity | 112,964 | ||
Successor [Member] | $4.50 Series Preferred Stock [Member] | |||
Preferred Stock, Value | 169 | ||
Successor [Member] | $3.50 Series Preferred Stock [Member] | |||
Preferred Stock, Value | $ 70 | ||
Predecessor [Member] | |||
Cash and Cash Equivalents | $ 4,548 | ||
Marketable Securities | 1,362 | ||
Accounts and notes receivable - net | 4,959 | ||
Inventories | 5,350 | ||
Other current assets | 505 | ||
Assets held for sale- current | 789 | ||
Total current assets | 17,513 | ||
Investments in nonconsolidated affiliates | 649 | ||
Property, Plant and Equipment, Gross | 23,015 | ||
Accumulated Depreciation | 14,164 | ||
Property, Plant and Equipment, Net | 8,851 | ||
Goodwill | 4,169 | ||
Other intangible assets | 3,664 | ||
Deferred Income Taxes | 3,308 | ||
Other Assets | 1,810 | ||
Total Assets | 39,964 | ||
Short-term borrowings and capital lease obligations | 429 | ||
Accounts Payable | 3,678 | ||
Income Taxes Payable | 101 | ||
Accrued and other current liabilities | 4,650 | ||
Liabilities held for sale - current | 74 | ||
Total current liabilities | 8,932 | ||
Long-term Debt | 8,107 | ||
Deferred Income Tax Liabilities | 425 | ||
Other noncurrent obligations | 12,304 | ||
Liabilities, Noncurrent | 20,836 | ||
Common Stock, Value, Issued | 285 | ||
Additional Paid in Capital | 11,190 | ||
Retained earnings | 14,924 | ||
Accumulated other comprehensive loss | (9,911) | ||
Treasury Stock, Value | (6,727) | ||
Total DuPont Stockholders' Equity | 9,998 | ||
Noncontrolling Interests | 198 | ||
Total Stockholders' Equity | 10,196 | ||
Total Liabilities and Equity | 39,964 | ||
Predecessor [Member] | $4.50 Series Preferred Stock [Member] | |||
Preferred Stock, Value | 167 | ||
Predecessor [Member] | $3.50 Series Preferred Stock [Member] | |||
Preferred Stock, Value | $ 70 | ||
[1] | The Successor period includes the reflection of debt at fair value at the date of the Merger. See Note 3 for additional information regarding the Merger. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Successor [Member] | ||
Common Stock, Par or Stated Value Per Share | $ 0.30 | |
Common Stock, Shares Authorized | 1,800,000,000 | |
Common Stock, Shares, Issued | 100 | |
Treasury Stock, Shares | 0 | |
Successor [Member] | $4.50 Series Preferred Stock [Member] | ||
Preferred Stock, Par Value | $ 0 | |
Preferred Stock, Shares Authorized | 23,000,000 | |
Preferred Stock, Shares Issued | 1,673,000 | |
Preferred Stock, Redemption Amount | $ 120 | |
Successor [Member] | $3.50 Series Preferred Stock [Member] | ||
Preferred Stock, Par Value | $ 0 | |
Preferred Stock, Shares Authorized | 23,000,000 | |
Preferred Stock, Shares Issued | 700,000 | |
Preferred Stock, Redemption Amount | $ 102 | |
Predecessor [Member] | ||
Common Stock, Par or Stated Value Per Share | $ 0.30 | |
Common Stock, Shares Authorized | 1,800,000,000 | |
Common Stock, Shares, Issued | 950,044,000 | |
Treasury Stock, Shares | 87,041,000 | |
Predecessor [Member] | $4.50 Series Preferred Stock [Member] | ||
Preferred Stock, Par Value | $ 0 | |
Preferred Stock, Shares Authorized | 23,000,000 | |
Preferred Stock, Shares Issued | 1,673,000 | |
Preferred Stock, Redemption Amount | $ 120 | |
Predecessor [Member] | $3.50 Series Preferred Stock [Member] | ||
Preferred Stock, Par Value | $ 0 | |
Preferred Stock, Shares Authorized | 23,000,000 | |
Preferred Stock, Shares Issued | 700,000 | |
Preferred Stock, Redemption Amount | $ 102 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Net income | $ 1,010 | |||
Depreciation and Amortization | 815 | |||
Provision for Deferred Income Tax | (3,015) | |||
Net Periodic Pension (Benefit) Cost | (111) | |||
Pension Contributions | (68) | |||
Net gain on sales of property, businesses, consolidated companies, and investments | (16) | |||
Restructuring and Asset Related Charges - Net | 180 | |||
Amortization of inventory step-up | 1,573 | |||
Other net loss | 125 | |||
Accounts and Notes Receivable | 2,107 | |||
Inventories | (1,010) | |||
Accounts Payable | 934 | |||
Other Assets and Liabilities, Net | 1,672 | |||
Cash provided by (used for) operating activities | 4,196 | |||
Capital expenditures | (426) | |||
Proceeds from the sale of property, businesses, and consolidated companies, net of cash divested | 1,268 | |||
Payment into a trust account | (571) | |||
Distribution from trust account | 13 | |||
Acquisitions of businesses - Net of Cash Acquired | 3 | |||
Investments in and loans to nonconsolidated affiliates | (5) | |||
Purchases of investments | (1,043) | |||
Proceeds from Sale and Maturities of Investments | 2,938 | |||
Other investing activities - net | 33 | |||
Cash provided by (used for) investing activities | 2,210 | |||
Change in short-term (less than 90 days) borrowings | (2,541) | |||
Proceeds from Issuance of Long-term Debt | 499 | |||
Repayments of Long-term Debt | (42) | |||
Proceeds from Stock Options Exercised | 30 | |||
Payments of Dividends to Stockholders | (332) | |||
Distributions to DowDuPont | (829) | |||
Cash Transferred to Chemours at Spinoff | 0 | |||
Other financing activities | (12) | |||
Cash (used for) provided by financing activities | (3,227) | |||
Effect of Exchange Rate Changes on Cash | (22) | |||
Cash reclassified as held for sale | 88 | |||
Increase (Decrease) in Cash and Cash Equivalents | 3,245 | |||
Cash and Cash Equivalents at beginning of period | 4,005 | |||
Cash and Cash Equivalents at end of period | 7,250 | $ 4,005 | ||
Interest, net of amounts capitalized | 76 | |||
Income Taxes | (437) | |||
Predecessor [Member] | ||||
Net income | 1,761 | $ 2,525 | $ 1,959 | |
Depreciation and Amortization | 749 | 1,258 | 1,466 | |
Net Periodic Pension (Benefit) Cost | 295 | 572 | 591 | |
Pension Contributions | (3,024) | (535) | (308) | |
Net gain on sales of property, businesses, consolidated companies, and investments | (204) | (436) | (59) | |
Restructuring and Asset Related Charges - Net | 323 | 556 | 795 | |
Asset related charges | 279 | 682 | 147 | |
Other net loss | 481 | 366 | 106 | |
Accounts and Notes Receivable | (2,269) | (270) | (448) | |
Inventories and Other Operating Assets | (202) | (54) | 164 | |
Accounts Payable and Other Operating Liabilities | (1,555) | (674) | (1,031) | |
Accrued Interest and Income Taxes | (260) | (77) | (165) | |
Cash provided by (used for) operating activities | (3,949) | 3,357 | 2,422 | |
Capital expenditures | (687) | (1,019) | (1,629) | |
Proceeds from the sale of property, businesses, and consolidated companies, net of cash divested | 300 | 316 | 156 | |
Payment into a trust account | 0 | 0 | 0 | |
Distribution from trust account | 0 | 0 | 0 | |
Acquisitions of businesses - Net of Cash Acquired | (246) | 0 | (152) | |
Investments in and loans to nonconsolidated affiliates | (22) | (19) | (76) | |
Purchases of investments | (5,457) | (2,633) | (1,897) | |
Proceeds from Sale and Maturities of Investments | 3,977 | 2,181 | 1,121 | |
Foreign currency exchange contract settlements | (206) | (385) | 615 | |
Other investing activities - net | (41) | 45 | 34 | |
Cash provided by (used for) investing activities | (2,382) | (1,514) | (1,828) | |
Change in short-term (less than 90 days) borrowings | 3,610 | 387 | (1) | |
Proceeds from Issuance of Long-term Debt | 2,734 | 813 | 3,679 | |
Repayments of Long-term Debt | (229) | (1,440) | (1,537) | |
Repurchase of Common Stock | 0 | (916) | (2,353) | |
Proceeds from Stock Options Exercised | 235 | 154 | 200 | |
Payments of Dividends to Stockholders | (666) | (1,335) | (1,546) | |
Cash Transferred to Chemours at Spinoff | 0 | 0 | (250) | |
Other financing activities | (52) | (48) | (121) | |
Cash (used for) provided by financing activities | 5,632 | (2,385) | (1,929) | |
Effect of Exchange Rate Changes on Cash | 187 | (153) | (275) | |
Cash reclassified as held for sale | (31) | 15 | 22 | |
Increase (Decrease) in Cash and Cash Equivalents | (543) | (680) | (1,588) | |
Cash and Cash Equivalents at beginning of period | $ 4,005 | 4,548 | 5,228 | 6,816 |
Cash and Cash Equivalents at end of period | 4,005 | 4,548 | 5,228 | |
Interest, net of amounts capitalized | 331 | 386 | 341 | |
Income Taxes | $ 272 | $ 735 | $ 885 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) $ in Millions | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent | Treasury Stock [Member] | Noncontrolling Interest [Member] | Parent Company [Member]Retained Earnings [Member] | |
Beginning Balance (Predecessor [Member]) at Dec. 31, 2014 | $ 13,378 | $ 237 | $ 298 | $ 11,174 | $ 16,894 | $ (8,556) | $ (6,727) | $ 58 | ||
Net income | Predecessor [Member] | 1,959 | 1,953 | 6 | |||||||
Net other comprehensive income (loss) | Predecessor [Member] | (1,308) | (1,308) | ||||||||
Dividends, Common Stock | Predecessor [Member] | (1,546) | (1,542) | (4) | |||||||
Dividends, Preferred Stock | Predecessor [Member] | (10) | (10) | ||||||||
Stock Issued During Period, Value, Share-Based Compensation and Adjustments to APIC, Share-Based Compensation | Predecessor [Member] | 361 | 2 | 359 | |||||||
Common stock repurchased | Predecessor [Member] | (2,353) | (2,353) | ||||||||
Common stock retired | Predecessor [Member] | 0 | (12) | (451) | (1,890) | 2,353 | |||||
Spin-off of Chemours | Predecessor [Member] | (431) | (895) | 468 | (4) | ||||||
Consolidation of a joint venture | Predecessor [Member] | 150 | (1) | 151 | |||||||
Ending Balance (Predecessor [Member]) at Dec. 31, 2015 | 10,200 | 237 | 288 | 11,081 | 14,510 | (9,396) | (6,727) | 207 | ||
Net income | Predecessor [Member] | 2,525 | 2,513 | 12 | |||||||
Net other comprehensive income (loss) | Predecessor [Member] | (515) | (515) | ||||||||
Dividends, Common Stock | Predecessor [Member] | (1,347) | (1,331) | (16) | |||||||
Dividends, Preferred Stock | Predecessor [Member] | (10) | (10) | ||||||||
Stock Issued During Period, Value, Share-Based Compensation and Adjustments to APIC, Share-Based Compensation | Predecessor [Member] | 268 | 1 | 267 | |||||||
Common stock repurchased | Predecessor [Member] | (916) | (916) | ||||||||
Common stock retired | Predecessor [Member] | 0 | (4) | (154) | (758) | 916 | |||||
Sale of a majority interest in consolidated subsidiary | Predecessor [Member] | (9) | (4) | (5) | |||||||
Ending Balance (Predecessor [Member]) at Dec. 31, 2016 | 10,196 | 237 | 285 | 11,190 | 14,924 | (9,911) | (6,727) | 198 | ||
Net income | Predecessor [Member] | 1,761 | 1,741 | 20 | |||||||
Net other comprehensive income (loss) | Predecessor [Member] | 1,289 | 1,289 | ||||||||
Dividends, Common Stock | Predecessor [Member] | (995) | (991) | (4) | |||||||
Dividends, Preferred Stock | Predecessor [Member] | (7) | (7) | ||||||||
Stock Issued During Period, Value, Share-Based Compensation and Adjustments to APIC, Share-Based Compensation | Predecessor [Member] | 275 | 2 | 273 | |||||||
Common stock retired | Predecessor [Member] | 0 | (26) | (1,044) | (5,657) | 6,727 | |||||
Sale of a majority interest in consolidated subsidiary | Predecessor [Member] | (2) | (2) | ||||||||
Ending Balance (Predecessor [Member]) at Aug. 31, 2017 | 12,517 | 237 | 261 | 10,419 | 10,010 | (8,622) | 0 | 212 | ||
Ending Balance (Successor [Member]) at Aug. 31, 2017 | 75,081 | 239 | 0 | 74,680 | 0 | 0 | [1] | 0 | 162 | |
Net income | Successor [Member] | 1,010 | 1,010 | 0 | |||||||
Net other comprehensive income (loss) | Successor [Member] | (381) | (381) | ||||||||
Dividends, Preferred Stock | Successor [Member] | (3) | (3) | ||||||||
Distributions to DowDuPont | Successor [Member] | (829) | $ (829) | ||||||||
Issuance of DowDuPont stock | Successor [Member] | 30 | 30 | ||||||||
Stock-based compensation | Successor [Member] | 36 | 36 | ||||||||
Stockholders' Equity, Other | Successor [Member] | (11) | (19) | (3) | 11 | ||||||
Sale of a majority interest in consolidated subsidiary | Successor [Member] | (4) | (4) | ||||||||
Consolidation of a joint venture | Successor [Member] | 3 | 3 | ||||||||
Ending Balance (Successor [Member]) at Dec. 31, 2017 | $ 74,932 | $ 239 | $ 0 | $ 74,727 | $ 175 | $ (381) | $ 0 | $ 172 | ||
[1] | In connection with the Merger, balances in accumulated other comprehensive loss at Merger Effectiveness Time were eliminated as a result of reflecting the balance sheet at fair value as of the date of the Merger. See Note 3 and 16 for further information regarding the Merger and pension and OPEB plans, respectively. |
Consolidated Statements of Equ8
Consolidated Statements of Equity (Parentheticals) - $ / shares | 8 Months Ended | 12 Months Ended | |
Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Predecessor [Member] | |||
Dividends declared | $ 1.14 | $ 1.52 | $ 1.72 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying Consolidated Financial Statements of E. I. du Pont de Nemours and Company (“DuPont” or “the company”) were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The significant accounting policies described below, together with the other notes that follow, are an integral part of the Consolidated Financial Statements. DowDuPont Inc. ("DowDuPont") was formed on December 9, 2015 to effect an all-stock, merger of equals strategic combination between The Dow Chemical Company ("Dow") and DuPont (the "Merger Transaction"). On August 31, 2017 at 11:59 pm ET, (the "Merger Effectiveness Time") pursuant to the Agreement and Plan of Merger, dated as of December 11, 2015, as amended on March 31, 2017 (the "Merger Agreement"), Dow and DuPont each merged with wholly owned subsidiaries of DowDuPont ("Mergers") and, as a result of the Mergers, Dow and DuPont became subsidiaries of DowDuPont (collectively, the "Merger"). Prior to the Merger, DowDuPont did not conduct any business activities other than those required for its formation and matters contemplated by the Merger Agreement. DowDuPont intends to pursue, subject to the receipt of approval by the Board of Directors of DowDuPont, the separation of the combined company's agriculture business, specialty products business and materials science business through a series of tax-efficient transactions (collectively, the "Intended Business Separations"). For purposes of DowDuPont's financial statement presentation, Dow was determined to be the accounting acquirer in the Merger and DuPont's assets and liabilities are reflected at fair value as of the Merger Effectiveness Time. In connection with the Merger and the related accounting determination, DuPont has elected to apply push-down accounting and reflect in its financial statements the fair value of its assets and liabilities. DuPont's Consolidated Financial Statements for periods following the close of the Merger are labeled “Successor” and reflect DowDuPont’s basis in the fair values of the assets and liabilities of DuPont. All periods prior to the closing of the Merger reflect the historical accounting basis in DuPont's assets and liabilities and are labeled “Predecessor.” The Consolidated Financial Statements and footnotes include a black line division between the columns titled "Predecessor" and "Successor" to signify that the amounts shown for the periods prior to and following the Merger are not comparable. See Note 3 for additional information on the Merger. Transactions between DowDuPont, DuPont, Dow and their affiliates and other associated companies are reflected in the Successor consolidated financial statements and disclosed as related party transactions when material. Related party transactions with DowDuPont are included in Note 6. Related party transactions with Dow and their affiliates were not material as of December 31, 2017 and for the period September 1 through December 31, 2017. As a condition of the regulatory approval for the Merger Transaction, the company was required to divest certain assets related to its crop protection business and research and development ("R&D") organization, specifically the company’s Cereal Broadleaf Herbicides and Chewing Insecticides portfolios, including Rynaxypyr ® , Cyazypyr ® and Indoxacarb as well as the crop protection R&D pipeline and organization, excluding seed treatment, nematicides, and late-stage R&D programs. On March 31, 2017, the company entered into a definitive agreement (the "FMC Transaction Agreement") with FMC Corporation ("FMC"). Under the FMC Transaction Agreement, FMC would acquire the crop protection business and R&D assets that DuPont was required to divest in order to obtain European Commission ("EC") approval of the Merger Transaction as described above, (the "Divested Ag Business") and DuPont agreed to acquire certain assets relating to FMC’s Health and Nutrition segment, excluding its Omega-3 products (the "H&N Business") (collectively, the "FMC Transactions"). On November 1, 2017, the company completed the FMC Transactions through the disposition of the Divested Ag Business and the acquisition of the H&N Business. The sale of the Divested Ag Business meets the criteria for discontinued operations and as such, results of operations are presented as discontinued operations and have been excluded from continuing operations for all periods presented. The sum of the individual earnings per share amounts from continuing operations and discontinued operations may not equal the total company earnings per share amounts due to rounding. The assets and liabilities related to the Divested Ag Business for all periods are presented as assets and liabilities held for sale in the Consolidated Balance Sheets. The comprehensive income and cash flows related to the Divested Ag Business have not been segregated and are included in the Consolidated Statements of Comprehensive Income and Consolidated Statements of Cash Flows, respectively, for all periods presented. Amounts related to the Divested Ag Business are consistently included or excluded from the Notes to the Consolidated Financial Statements based on the respective financial statement line item. See Note 4 for additional information. On July 1, 2015, the company completed the separation of its Performance Chemicals segment through the spin-off of all of the issued and outstanding stock of The Chemours Company ("Chemours"). In accordance with GAAP, the results of operations of the Performance Chemicals segment are presented as discontinued operations and, as such, have been excluded from continuing operations in the Consolidated Statements of Operations for all periods presented. See Note 4 for additional information. Certain reclassifications of prior year's data have been made to conform to current year's presentation. As described in Note 2, effective January 1, 2017, the company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting. In conjunction with the adoption of this ASU, the company retrospectively reclassified cash flows related to income tax impacts associated with employee share-based payments in the Consolidated Statements of Cash Flows, as described in Note 2. The Consolidated Financial Statements include the accounts of the company and subsidiaries in which a controlling interest is maintained. For those consolidated subsidiaries in which the company's ownership is less than 100 percent, the outside stockholders' interests are shown as noncontrolling interests. Investments in affiliates over which the company has significant influence but not a controlling interest are accounted for under the equity method. The company is also involved with certain joint ventures accounted for under the equity method of accounting that are variable interest entities ("VIEs"). The company is not the primary beneficiary, as the nature of the company's involvement with the VIEs does not provide it the power to direct the VIEs significant activities. Future events may require these VIEs to be consolidated if the company becomes the primary beneficiary. At December 31, 2017 and 2016 , the maximum exposure to loss related to the nonconsolidated VIEs is not considered material to the Consolidated Financial Statements. Use of Estimates in Financial Statement Preparation The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The company’s consolidated financial statements include amounts that are based on management’s best estimates and judgments. Actual results could differ from those estimates. In connection with the Merger, DowDuPont has performed a preliminary allocation of the total consideration exchanged for the DuPont assets and liabilities it acquired using preliminary estimates. The estimates are subject to change as discussed in Note 3. Changes in Accounting and Reporting Within the Successor period, DuPont made the following changes in accounting and reporting to harmonize its accounting and reporting with DowDuPont. Within the Successor period of the Consolidated Statements of Operations: • Included royalty income within net sales. In the Predecessor periods, royalty income is included within sundry income - net. • Eliminated the other operating charges line item. In the Successor period, a majority of these costs are included within cost of goods sold. These costs are also included in selling, general and administrative expenses and amortization of intangibles in the Successor period. • Presented amortization of intangibles as a separate line item. In the Predecessor periods, amortization is included within cost of goods sold, selling, general and administrative expenses, other operating charges, and research and development expenses. • Presented integration and separation costs as a separate line item. In the Predecessor periods, these costs are included within selling, general and administrative expenses. • Included interest accrued related to unrecognized tax benefits within the (benefit from) provision for income taxes on continuing operations. In the Predecessor period, interest accrued related to unrecognized tax benefits is included within sundry income - net. Within the Successor period of the Consolidated Balance Sheets: • Included loans to nonconsolidated affiliates within other assets. In the Predecessor period, loans are included within investment in nonconsolidated affiliates. • Included accrued discounts and rebates within accounts payable. In the Predecessor period, accrued discounts and rebates are included within accrued and other current liabilities. • Included non-current pension liabilities within pension and other post employment benefits - noncurrent. In the Predecessor period, non-current pension liabilities are included within other noncurrent obligations. Within the Successor period of the Consolidated Statements of Cash Flows: • Included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. In the Predecessor period, DuPont reflected non-qualified hedge programs, specifically forward contracts, options and cash collateral activity, within cash flows from investing activities. In the Predecessor period, DuPont reflected cash flows from qualified programs within the line item it related to (i.e., revenue hedge cash flows presented within changes from accounts receivable). • Aligned the line items within "changes in assets and liabilities, net of effects of acquired and divested companies" to the DowDuPont presentation, including accounts and notes receivable, inventories, accounts payable, and other assets and liabilities. In the Predecessor period, the line item "changes in assets and liabilities, net of effects of acquired and divested companies" includes accounts and notes receivable, inventories and other operating assets, accounts payable and other operating liabilities, and accrued interest and income taxes. Cash and Cash Equivalents Cash equivalents represent investments with maturities of three months or less from time of purchase. They are carried at cost plus accrued interest. Restricted Cash Restricted cash represents trust assets of $558 million as of December 31, 2017, and is included within other current assets on the Consolidated Balance Sheets. See Note 6 and Note 16 for further information. Marketable Securities Marketable securities represent investments in fixed and floating rate financial instruments with maturities greater than three months and up to twelve months at time of purchase. Investments classified as held-to-maturity are recorded at amortized cost. The carrying value approximates fair value due to the short-term nature of the investments. Investments classified as available-for-sale are carried at estimated fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income (loss). The cost of investments sold is determined by specific identification. Fair Value Measurements Under the accounting guidance for fair value measurements and disclosures, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The company uses the following valuation techniques to measure fair value for its assets and liabilities: Level 1 – Quoted market prices in active markets for identical assets or liabilities; Level 2 – Significant other observable inputs (e.g. quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs); Level 3 – Unobservable inputs for the asset or liability, which are valued based on management's estimates of assumptions that market participants would use in pricing the asset or liability. Foreign Currency Translation The company's worldwide operations utilize the U.S. dollar (USD) or local currency as the functional currency, where applicable. The company identifies its separate and distinct foreign entities and groups the foreign entities into two categories: 1) extension of the parent or foreign subsidiaries operating in a hyper-inflationary environment (USD functional currency) and 2) self-contained (local functional currency). If a foreign entity does not align with either category, factors are evaluated and a judgment is made to determine the functional currency. For foreign entities where the USD is the functional currency, all foreign currency-denominated asset and liability amounts are re-measured into USD at end-of-period exchange rates, except for inventories, prepaid expenses, property, plant and equipment, goodwill and other intangible assets, which are re-measured at historical rates. Foreign currency income and expenses are re-measured at average exchange rates in effect during the year, except for expenses related to balance sheet amounts re-measured at historical exchange rates. Exchange gains and losses arising from re-measurement of foreign currency-denominated monetary assets and liabilities are included in income in the period in which they occur. For foreign entities where the local currency is the functional currency, assets and liabilities denominated in local currencies are translated into USD at end-of-period exchange rates and the resultant translation adjustments are reported, net of their related tax effects, as a component of accumulated other comprehensive loss in equity. Assets and liabilities denominated in other than the local currency are re-measured into the local currency prior to translation into USD and the resultant exchange gains or losses are included in income in the period in which they occur. Income and expenses are translated into USD at average exchange rates in effect during the period. The company changes the functional currency of its separate and distinct foreign entities only when significant changes in economic facts and circumstances indicate clearly that the functional currency has changed. Inventories The company's inventories are valued at the lower of cost or net realizable value. Elements of cost in inventories include raw materials, direct labor and manufacturing overhead. Stores and supplies are valued at cost or net realizable value, whichever is lower; cost is generally determined by the average cost method. As of December 31, 2017 approximately 60 percent , 30 percent , and 10 percent of the company's inventories were accounted for under the first-in, first-out ("FIFO"), average cost and the last-in, first-out ("LIFO") methods, respectively. As of December 31, 2016 approximately 55 percent , 30 percent , and 15 percent of the company's inventories were accounted for under the FIFO, average cost and LIFO methods, respectively. Inventories accounted for under the FIFO method are primarily comprised of products with shorter shelf lives such as seeds, certain food-ingredients and enzymes. The company establishes allowances for obsolescence of inventory based upon quality considerations and assumptions about future demand and market conditions. Property, Plant and Equipment Property, plant and equipment are carried at cost less accumulated depreciation. In connection with the Merger, the preliminary estimated fair value of property, plant and equipment is determined using a market approach and a replacement cost approach. Refer to Note 3 for further information. Depreciation is based on the estimated service lives of depreciable assets and is calculated using the straight-line method. Fully depreciated assets are retained in property and accumulated depreciation accounts until they are removed from service. When assets are surrendered, retired, sold, or otherwise disposed of, their gross carrying values and related accumulated depreciation are removed from the Consolidated Balance Sheets and included in determining gain or loss on such disposals. Goodwill and Other Intangible Assets The company records goodwill when the purchase price of a business acquisition exceeds the estimated fair value of net identified tangible and intangible assets acquired. Goodwill is tested for impairment at the reporting unit level annually, or more frequently when events or changes in circumstances indicate that the fair value of a reporting unit has more likely than not declined below its carrying value. In connection with the Merger Transaction, the company adopted the policy of DowDuPont and performed an annual goodwill impairment test in the fourth quarter of 2017. In the Predecessor periods, the annual impairment test was performed in the third quarter. When testing goodwill for impairment, the company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the company chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required. The company's fair value methodology is primarily based on discounted cash flow techniques. See Note 12 for further information on goodwill. Indefinite-lived intangible assets are tested for impairment at least annually; however, these tests are performed more frequently when events or changes in circumstances indicate that the asset may be impaired. Impairment exists when carrying value exceeds fair value. The company's fair value methodology is primarily based on discounted cash flow techniques. Definite-lived intangible assets are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging primarily from 1 to 23 years. The company continually evaluates the reasonableness of the useful lives of these assets. Once these assets are fully amortized, they are removed from the Consolidated Balance Sheets. Impairment of Long-Lived Assets The company evaluates the carrying value of long-lived assets to be held and used when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of a long-lived asset group is considered impaired when the total projected undiscounted cash flows from the assets are separately identifiable and are less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. The company's fair value methodology is an estimate of fair market value which is made based on prices of similar assets or other valuation methodologies including present value techniques. Long-lived assets to be disposed of by sale, if material, are classified as held for sale and reported at the lower of carrying amount or fair value less cost to sell, and depreciation is ceased. Long-lived assets to be disposed of other than by sale are classified as held and used until they are disposed of and reported at the lower of carrying amount or fair value. Depreciation is recognized over the remaining useful life of the assets. Derivative Instruments Derivative instruments are reported in the Consolidated Balance Sheets at their fair values. The company utilizes derivatives to manage exposures to foreign currency exchange rates and commodity prices. Changes in the fair values of derivative instruments that are not designated as hedges are recorded in current period earnings. For derivative instruments designated as cash flow hedges, the effective portion of any hedge is reported in accumulated other comprehensive loss until it is cleared to earnings during the same period in which the hedged item affects earnings. The ineffective portion of all hedges is recognized in current period earnings. In the event that a derivative designated as a hedge of a firm commitment or an anticipated transaction is terminated prior to the maturation of the hedged transaction, gains or losses realized at termination are deferred and included in the measurement of the hedged transaction. If a hedged transaction matures, or is sold, extinguished, or terminated prior to the maturity of a derivative designated as a hedge of such transaction, gains or losses associated with the derivative through the date the transaction matured are included in the measurement of the hedged transaction and the derivative is reclassified as for trading purposes. Derivatives designated as hedges of anticipated transactions are reclassified as for trading purposes if the anticipated transaction is no longer probable. In the Predecessor period, the company reflected non-qualified hedge programs, specifically forward contracts, options and cash collateral activity, within cash flows from investing activities. In the Predecessor period, the company reflected cash flows from qualified programs within the line item it related to (i.e., revenue hedge cash flows presented within changes from accounts receivable). In the Successor period, the company included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. See Note 18 for additional discussion regarding the company's objectives and strategies for derivative instruments. Environmental Matters Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the Consolidated Balance Sheets in accrued and other current liabilities and other noncurrent obligations at undiscounted amounts. Accruals for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the consolidated balance sheets as accounts and notes receivable - net. Environmental costs are capitalized if the costs extend the life of the property, increase its capacity, and/or mitigate or prevent contamination from future operations. Environmental costs are also capitalized in recognition of legal asset retirement obligations resulting from the acquisition, construction and/or normal operation of a long-lived asset. Costs related to environmental contamination treatment and cleanup are charged to expense. Estimated future incremental operations, maintenance and management costs directly related to remediation are accrued when such costs are probable and reasonably estimable. Revenue Recognition The company recognizes revenue when it is realized or realizable, and the earnings process is complete. The company's revenues are from the sale of a wide range of products to a diversified base of customers around the world. Revenue for product sales is recognized when title and risk of loss have been transferred, collectability is reasonably assured and pricing is fixed or determinable. A majority of product sales are sold FOB (free on board) shipping point or, with respect to non-United States of America (U.S.) customers, an equivalent basis. Accruals are made for sales returns and other allowances based on the company's experience. The company accounts for cash sales incentives as a reduction in sales and noncash sales incentives as a charge to cost of goods sold or selling expense, depending on the nature of the incentive. Amounts billed to customers for shipping and handling fees are included in net sales and costs incurred by the company for the delivery of goods are classified as cost of goods sold in the Consolidated Statements of Operations. Taxes on revenue-producing transactions are excluded from net sales. The company periodically enters into prepayment contracts with the agriculture product line's customers and receives advance payments for product to be delivered in future periods. These advance payments are recorded as deferred revenue (classified as accrued and other current liabilities) or debt, depending on the nature of the program. Revenue associated with advance payments is recognized as shipments are made and title, ownership and risk of loss pass to the customer. Licensing and royalty income is recognized in accordance with agreed upon terms, when performance obligations are satisfied, the amount is fixed or determinable and collectability is reasonably assured. Royalty Expense The company’s agriculture product line currently has certain third party biotechnology trait license agreements, which require up-front and variable payments subject to the licensor meeting certain conditions. These payments are reflected as other current assets and other assets and are amortized to cost of goods sold as seeds containing the respective trait technology are utilized over the life of the license. The company evaluates the carrying value of the prepaid royalties when events or changes in circumstances indicate the carrying value may not be recoverable. Cost of Goods Sold Successor periods - Cost of goods sold primarily includes the cost of manufacture and delivery, ingredients or raw materials, direct salaries, wages and benefits and overhead, non-capitalizable costs associated with capital projects and other operational expenses. No amortization of intangibles is included within costs of goods sold. Predecessor periods - Cost of goods sold primarily includes the cost of manufacture and delivery, ingredients or raw materials, direct salaries, wages and benefits and overhead. Other Operating Charges Predecessor periods - Other operating charges includes product claim charges and recoveries, non-capitalizable costs associated with capital projects and other operational expenses. Research and Development Research and development costs are expensed as incurred. Research and development expense includes costs (primarily consisting of employee costs, materials, contract services, research agreements, and other external spend) relating to the discovery and development of new products, enhancement of existing products and regulatory approval of new and existing products. Selling, General and Administrative Expenses Successor periods - Selling, general and administrative expenses primarily include selling and marketing expenses, commissions, functional costs, and business management expenses. Predecessor periods - Selling, general and administrative expenses primarily include selling and marketing expenses, commissions, functional costs, business management expenses and integration and separation costs. Integration and Separation Costs Successor periods - Integration and separation costs includes costs incurred to prepare for and close the Merger, post-Merger integration expenses and costs incurred to prepare for the Intended Business Separations. These costs primarily consist of financial advisory, information technology, legal, accounting, consulting and other professional advisory fees associated with preparation and execution of these activities. Litigation Accruals for legal matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Legal costs, such as outside counsel fees and expenses, are charged to expense in the period incurred. Severance Costs Severance benefits are provided to employees under the company's ongoing benefit arrangements. Severance costs are accrued when management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated. Insurance/Self-Insurance The company self-insures certain risks where permitted by law or regulation, including workers' compensation, vehicle liability and employee related benefits. Liabilities associated with these risks are estimated in part by considering historical claims experience, demographic factors and other actuarial assumptions. For other risks, the company uses a combination of insurance and self-insurance, reflecting comprehensive reviews of relevant risks. A receivable for an insurance recovery is generally recognized when the loss has occurred and collection is considered probable. Income Taxes The company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities using enacted tax rates. The effect of a change in tax rates on deferred tax assets or liabilities is recognized in income in the period that includes the enactment date (see Note 7 for further information relating to the enactment of the Tax Cuts and Job Act). The company recognizes the financial statement effects of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. The company accrues for other tax contingencies when it is probable that a liability to a taxing authority has been incurred and the amount of the contingency can be reasonably estimated. The current portion of uncertain income tax positions is included in income taxes payable and the long-term portion is included in other noncurrent obligations in the Consolidated Balance Sheets. Provision is made for taxes on undistributed earnings of foreign subsidiaries and related companies to the extent that such earnings are not deemed to be permanently invested. Income tax related penalties are included in the provision for income taxes in the Consolidated Statements of Operations. Interest accrued related to unrecognized tax benefits is included within the (benefit from) provision for income taxes from continuing operations in the Consolidated Statements of Operations in the Successor period. In the Predecessor period, interest accrued related to unrecognized tax benefits is included within sundry income - net in the Consolidated Statements of Operations. Segments Effective with the Merger, DuPont’s business activities are components of its parent company’s business operations. DuPont’s business activities, including the assessment of performance and allocation of resources, are reviewed and managed by DowDuPont. Information used by the chief operating decision maker of DuPont relates to the company in its entirety. Accordingly, there are no separate reportable business segments for DuPont under Accounting Standards Codification ("ASC") Topic 280 “Segment Reporting” and DuPont's busine |
Recent Accounting Guidance
Recent Accounting Guidance | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Guidance | RECENT ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting, which modifies the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when stock awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also allows the company to repurchase more of an employee’s vested shares for tax withholding purposes without triggering liability accounting, and clarifies that all cash payments made to tax authorities on an employee’s behalf for withheld shares should be presented as a financing activity on the statement of cash flows. The company adopted this standard as of January 1, 2017. The primary impact of adoption was the recognition of excess tax benefits in the company's provision for income taxes rather than additional paid-in capital, which is applied prospectively in accordance with the guidance. Adoption of the new standard resulted in the recognition of $2 million and $30 million of excess tax benefits in the company's provision for income taxes rather than additional paid-in capital for the period September 1 through December 31, 2017 and the period January 1 through August 31, 2017 , respectively. The company elected to apply the presentation requirements for cash flows related to excess tax benefits retrospectively to all periods presented, which resulted in an increase to both net cash provided by operating activities and net cash used for financing activities of $27 million and $74 million for the years ended December 31, 2016 and 2015, respectively. The presentation requirements for cash flows related to employee taxes paid for withheld shares resulted in an increase to both net cash provided by operating activities and net cash used for financing activities of $30 million and $32 million for the years ended December 31, 2016 and 2015, respectively. The remaining updates required by this standard did not have a material impact to the company’s Consolidated Financial Statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment. The new guidance eliminates the requirement to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. Under the amendments in the new ASU, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new standard is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for annual or interim goodwill impairment testing performed after January 1, 2017. In connection with the Merger Transaction, the company adopted the policy of the parent company and performed its annual goodwill impairment test in the fourth quarter. Previously, the annual impairment test was performed in the third quarter. The company early adopted the new guidance for the annual goodwill impairment test that was performed in the fourth quarter of 2017. See Note 12 for additional information. Accounting Guidance Issued But Not Adopted as of December 31, 2017 In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities. The new guidance expands and refines hedge accounting for both nonfinancial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged items in the financial statements. For cash flow and net investment hedges existing as of the date of adoption, an entity should apply a cumulative-effect adjustment related to eliminating the separate measurement of ineffectiveness to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year in which an entity adopts. Presentation and disclosure guidance is required to be adopted prospectively. The new standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted in any interim period. All transition requirements and elections should be applied to hedging relationships existing (that is, hedging relationships in which the hedging instrument has not expired, been sold, terminated, or exercised or the entity has not removed the designation of the hedging relationship) on the date of adoption. The effect of adoption should be reflected as of the beginning of the fiscal year of adoption. The company is currently evaluating the impact this guidance will have on the Consolidated Financial Statements and related disclosures. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The new guidance requires registrants to present the service cost component of net periodic benefit cost in the same income statement line item or items as other employee compensation costs arising from services rendered during the period. In addition, only the service cost component will be eligible for capitalization in assets. Registrants will present the other components of net periodic benefit cost separately from the service cost component; and, the line item or items used in the income statement to present the other components of net periodic benefit cost must be disclosed. The guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted as of the beginning of an annual period. The new standard must be adopted retrospectively for the presentation of the service cost component and the other components of net periodic benefit cost in the income statement, and prospectively for the capitalization of the service cost component of net periodic benefit cost in assets. The company plans to adopt this guidance in the first quarter of 2018 and is currently evaluating the impact on the Consolidated Financial Statements and related disclosures. The company anticipates approximately half the costs will be reclassified from cost of goods sold, with the remainder reclassified from selling, general and administrative expenses and research and development expense, to sundry income - net in the Consolidated Statements of Operations. See Note 16 for the components of net periodic benefit cost. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The new guidance narrows the existing definition of a business and provides a framework for evaluating whether a transaction should be accounted for as an acquisition (or disposal) of assets or a business. The guidance requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities (collectively, the "set") is not a business. To be considered a business, the set would need to include an input and a substantive process that together significantly contribute to the ability to create outputs, as defined by the ASU. The guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods, and should be applied prospectively. Early adoption is permitted. The company adopted this standard on January 1, 2018 and will apply it prospectively to all applicable transactions after the adoption date. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force), which clarifies how entities should present restricted cash and restricted cash equivalents in the statement of cash flows, and, as a result, entities will no longer present transfers between cash and cash equivalents and restricted cash and restricted cash equivalents in the statement of cash flows. An entity with a material balance of restricted cash and restricted cash equivalents must disclose information about the nature of the restrictions. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted and the new guidance must be applied retrospectively to all periods presented. The new guidance will change the presentation of restricted cash in the Consolidated Statements of Cash Flows and will be applied retrospectively in the first quarter of 2018. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740), Intra-Entity Transfers of Assets Other Than Inventory. The new guidance requires that entities recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than when the asset is sold to an outside party. The guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The new guidance requires adoption on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The company plans to adopt this guidance in the first quarter of 2018 with the expectation that this guidance will have an immaterial impact on the Consolidated Financial Statements and related disclosures. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. The new guidance makes eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The new guidance requires adoption on a retrospective basis unless it is impracticable to apply, in which case the company would be required to apply the amendments prospectively as of the earliest date practicable. The company is currently evaluating the impact this guidance will have on the Consolidated Financial Statements and related disclosures, but does not expect there to be a significant impact. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments under the new guidance will require lessees to recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability, other than leases that meet the definition of a short-term lease. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting. Lessor accounting is similar to the current model, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new leasing standard will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The new standard must be adopted using a modified retrospective transition, requiring application at the beginning of the earliest comparative period presented. The company is currently evaluating the impact of adopting this guidance on the Consolidated Financial Statements and related disclosures. The company is the lessee under various agreements for facilities and equipment that are currently accounted for as operating leases. A discussion of these leases is included in Note 14, "Commitments and Contingent Liabilities." In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which was further updated in March, April, May and December 2016, as well as September and November 2017. The new guidance clarifies the principles for recognizing revenue and develops a common revenue standard for GAAP. The core principle of the 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. The new standard also will result in additional disclosure requirements to describe the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In July 2015, the FASB approved a deferral of the ASU effective date from annual and interim periods beginning after December 15, 2016 to annual and interim periods beginning after December 15, 2017. The standard permits the use of either the retrospective or modified retrospective (cumulative-effect) transition method of adoption. The company will adopt the standard in the first quarter of 2018 under the modified retrospective transition method. The company has substantially completed its evaluation of the impact of the new standard on the Consolidated Financial Statements and has determined that the transition adjustment to be recorded upon adoption is not material and the company does not expect material changes in the timing of revenue recognition. The company continues to evaluate the impact of the new standard on its disclosures. |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | BUSINESS COMBINATIONS Acquisition of Granular, Inc. On August 31, 2017, the company acquired Granular, Inc., a leading provider of software and analytics tools that help farms improve efficiency, profitability, and sustainability. The purchase price was approximately $250 million and was primarily allocated to goodwill, developed technology, and customer relationships. The fair value of the acquired assets related to Granular, Inc. are included in the fair value measurement of DuPont’s assets and liabilities, discussed below. Merger with Dow Upon completion of the Merger, (i) each share of common stock, par value $0.30 per share, of the company (the "DuPont Common Stock") was converted into the right to receive 1.2820 fully paid and non-assessable shares of DowDuPont common stock, par value $0.01 per share, ("DowDuPont Common Stock"), in addition to cash in lieu of any fractional shares of DowDuPont Common Stock, and (ii) each share of DuPont Preferred Stock— $4.50 Series and DuPont Preferred Stock— $3.50 Series (collectively "DuPont Preferred Stock") issued and outstanding immediately prior to the Merger Effectiveness Time remains issued and outstanding and was unaffected by the Merger. As provided in the Merger Agreement, at the Merger Effectiveness Time, all options relating to shares of DuPont Common Stock that were outstanding immediately prior to the effective time of the Merger were generally automatically converted into options relating to shares of DowDuPont Common Stock and all restricted stock units and performance based restricted stock units relating to shares of DuPont Common Stock that were outstanding immediately prior to the effective time of the Mergers were generally automatically converted into restricted stock units relating to shares of DowDuPont Common Stock, in each case, after giving effect to appropriate adjustments to reflect the Mergers and otherwise generally on the same terms and conditions as applied under the applicable plans and award agreements immediately prior to the Merger Effectiveness Time. See Note 17 for further discussion. Prior to the Merger, shares of DuPont Common Stock were registered pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended and listed on the New York Stock Exchange (the “NYSE”). As a result of the Merger, on August 31, 2017 , the company requested that the NYSE withdraw the shares of DuPont Common Stock from listing on the NYSE and filed a Form 25 with the U.S. Securities and Exchange Commission ("SEC") to report that DuPont Common Stock is no longer listed on the NYSE. DuPont continues to have preferred stock outstanding and it remains listed on the NYSE. DowDuPont Common Stock is listed and trades on the NYSE, ticker symbol DWDP. As a condition of the regulatory approval of the Merger, DuPont was required to divest a portion of its crop protection product line, including certain research and development capabilities. See Note 4 for additional information. DuPont and Dow intend to pursue, subject to the receipt of approval by the Board of Directors of DowDuPont, the separation of the combined company’s agriculture, specialty products and materials science businesses through a series of tax-efficient transactions (collectively, the "Intended Business Separations"). Preliminary Allocation of Purchase Price Based on an evaluation of the provisions of ASC 805, "Business Combinations," ("ASC 805") Dow was determined to be the accounting acquirer in the Merger. DowDuPont has applied the acquisition method of accounting with respect to the assets and liabilities of DuPont, which have been measured at fair value as of the date of the Merger. In connection with the Merger and the related accounting determination, DuPont has elected to apply push-down accounting and reflect in its financial statements the fair value of assets and liabilities. Such fair values have been reflected in the Successor Consolidated Financial Statements. DuPont's assets and liabilities were measured at estimated fair values as of the Merger Effectiveness Time, primarily using Level 3 inputs. Estimates of fair value represent management's best estimate which require a complex series of judgments about future events and uncertainties. Third-party valuation specialists were engaged to assist in the valuation of these assets and liabilities. The total fair value of consideration transferred for the Merger was $74,680 million . Total consideration is comprised of the equity value of the DowDuPont shares as of the Merger Effectiveness Time that were issued in exchange for DuPont shares, the cash value for fractional shares, and the portion of DuPont's share awards and share options earned as of the Merger Effectiveness Time. Share awards and share options converted to DowDuPont equity instruments, but not vested, were $144 million as of August 31, 2017, which will be expensed over the remaining future vesting period. The following table summarizes the fair value of consideration exchanged as a result of the Merger: (In millions, except exchange ratio) DuPont Common Stock outstanding as of the Merger Effectiveness Time 868.3 DuPont exchange ratio 1.2820 DowDuPont Common Stock issued in exchange for DuPont Common Stock 1,113.2 Fair value of DowDuPont Common Stock issued 1 $ 74,195 Fair value of DowDuPont equity awards issued in exchange for outstanding DuPont equity awards 2 485 Total consideration $ 74,680 1. Amount was determined based on the price per share of Dow Common Stock of $66.65 on August 31, 2017. 2. Represents the fair value of replacement awards issued for DuPont's equity awards outstanding immediately before the Merger and attributable to the service periods prior to the Merger. The previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock. The acquisition method of accounting requires, among other things, that identifiable assets acquired and liabilities assumed be recognized on the balance sheet at the fair values as of the acquisition date. In determining the fair value, DowDuPont utilized various forms of the income, cost and market approaches depending on the asset or liability being fair valued. The estimation of fair value required significant judgments related to future net cash flows (including net sales, cost of products sold, selling and marketing costs, and working capital/contributory asset charges), discount rates reflecting the risk inherent in each cash flow stream, competitive trends, market comparables and other factors. Inputs were generally determined by taking into account historical data, supplemented by current and anticipated market conditions, and growth rates. The table below presents the preliminary fair value that was allocated to DuPont's assets and liabilities based upon fair values as determined by DowDuPont. The valuation process to determine the fair values is not yet complete. DuPont estimated the preliminary fair value of acquired assets and liabilities as of the date of acquisition based on information currently available and continues to adjust those estimates upon refinement of market participant assumptions for integrating businesses, finalization of tax returns in the pre-merger period and application of push-down accounting at the subsidiary level. The preliminary fair values are substantially complete with the exception of identifiable intangible assets, property, plant, and equipment, income taxes and goodwill. As DuPont finalizes the fair value of assets acquired and liabilities assumed, additional purchase price adjustments may be recorded during the measurement period, but no later than one year from the date of the acquisition. DuPont will reflect measurement period adjustments, if any, in the period in which the adjustments are recognized. Final determination of the fair values may result in further adjustments to the values presented in the following table. Estimated fair value as previously reported 1 Measurement period adjustments 2 Estimated fair value adjusted (In millions) Fair Value of Assets as of the Merger Effectiveness Time Cash and cash equivalents $ 4,005 $ — $ 4,005 Marketable securities 2,849 — 2,849 Accounts and notes receivable 7,851 — 7,851 Inventories 8,886 (79 ) 8,807 Other current assets 360 — 360 Investment in nonconsolidated affiliates 1,685 (31 ) 1,654 Assets held for sale - current 3,184 564 3,748 Property, plant and equipment 12,122 (181 ) 11,941 Goodwill 3 45,501 (396 ) 45,105 Other intangible assets 3 27,844 (623 ) 27,221 Deferred income tax assets 487 (203 ) 284 Other assets 2,076 — 2,076 Total Assets $ 116,850 $ (949 ) $ 115,901 Fair Value of Liabilities Short-term borrowings and capital lease obligations $ 5,319 $ — $ 5,319 Accounts payable 3,283 — 3,283 Income taxes payable 140 — 140 Accrued and other current liabilities 3,517 — 3,517 Liabilities held for sale - current 104 11 115 Long-term debt 9,878 — 9,878 Deferred income tax liabilities 9,408 (940 ) 8,468 Pension and other post employment benefits - noncurrent 8,092 (36 ) 8,056 Other noncurrent obligations 2,028 — 2,028 Total Liabilities $ 41,769 $ (965 ) $ 40,804 Noncontrolling interests 162 16 178 Preferred stock 239 — 239 Fair Value of Net Assets (Consideration for the Merger) $ 74,680 $ — $ 74,680 1. As previously reported in the company’s Quarterly Report on Form 10-Q for the period ended September 30, 2017. 2. DuPont recorded measurement period adjustments in the fourth quarter of 2017 to reflect facts and circumstances in existence as of the Merger Effectiveness Time. These measurement period adjustments primarily related to changes in preliminary valuation assumptions, including market participant estimates of cash flows and estimates of asset useful lives, as well as other initial estimates. All measurement period adjustments were offset against goodwill. 3. See Note 12 for additional information. The significant fair value adjustments included in the preliminary allocation of purchase price are discussed below. Inventories Inventory is primarily comprised of finished products of $4,929 million , semi-finished products of $3,055 million and raw materials and stores and supplies of $823 million . The fair value of finished goods was calculated as the estimated selling price, adjusted for costs of the selling effort and a reasonable profit allowance relating to the selling effort. The fair value of semi-finished inventory was primarily calculated as the estimated selling price, adjusted for estimated costs to complete the manufacturing, estimated costs of the selling effort, as well as a reasonable profit margin on the remaining manufacturing and selling effort. The fair value of raw materials and stores and supplies was determined to approximate the historical carrying value. For inventory accounted for under the FIFO method and average cost method, the preliminary fair value step-up of inventory will be recognized in costs of goods sold as the inventory is sold. For inventory accounted for under the LIFO method, the preliminary fair value of inventory becomes the LIFO base layer inventory. The pre-tax amount of inventory step-up recognized for the period September 1 through December 31, 2017, was $1,538 million , of which $1,434 million was reflected in costs of goods sold within loss from continuing operations before income taxes and $104 million is reflected in loss from discontinued operations after income taxes in the Consolidated Statements of Operations. Property, Plant & Equipment Property, plant and equipment is comprised of machinery and equipment of $7,466 million , buildings of $2,583 million , construction in progress of $980 million and land and land improvements of $912 million . The preliminary estimated fair value of property and equipment was primarily determined using a market approach for land and certain types of equipment, and a replacement cost approach for other property and equipment. The market approach for certain types of equipment represents a sales comparison that measures the value of an asset through an analysis of sales and offerings of comparable assets. The replacement cost approach used for all other depreciable property and equipment measures the value of an asset by estimating the cost to acquire or construct comparable assets and adjusts for age and condition of the asset. Goodwill The excess of the consideration for the Merger over the preliminary net fair value of assets and liabilities was recorded as goodwill. The Merger resulted in the recognition of $45,105 million of goodwill, none of which is deductible. Goodwill largely consists of expected cost synergies resulting from the Merger and the Intended Business Separations, the assembled workforce of DuPont, and future technology and customers. Other Intangible Assets Other intangible assets primarily consist of acquired customer related assets, developed technology, trademarks and tradenames, and germplasm. The preliminary customer-related value was determined using the excess earnings method while the preliminary developed technology, trademarks and trade names, and germplasm values were primarily determined utilizing the relief from royalty method. Both the excess earnings and relief from royalty methods are forms of the income approach. Refer to Note 12 for further information on other intangible assets. Deferred Income Tax Assets and Liabilities The deferred income tax assets and liabilities include the expected future federal, state, and foreign tax consequences associated with temporary differences between the preliminary fair values of the assets acquired and liabilities assumed and the respective tax bases. Tax rates utilized in calculating deferred income taxes generally represent the enacted statutory tax rates at the Merger Effectiveness Time in the jurisdictions in which legal title of the underlying asset or liability resides. Refer to Note 7 for further information related to the remeasurement of deferred income tax assets and liabilities as a result of the enactment of the U.S. Tax Cuts and Jobs Act in December 2017. The preliminary fair value of deferred income tax assets includes a $172 million adjustment to derecognize a valuation allowance for certain historical net operating losses that will not be fully realized as a result of the Merger. Included in the fair value adjustment related to deferred income tax liabilities is a $546 million adjustment reflecting a change in determination as to the reinvestment strategy of certain foreign operations of the company. Integration and Separation Costs Integration and separation costs have been and are expected to be significant. These costs to date primarily have consisted of financial advisory, information technology, legal, accounting, consulting, and other professional advisory fees associated with the preparation and execution of activities related to the Merger and the Intended Business Separations. These costs are recorded within integration and separation costs in the Successor period and the costs are recorded within selling, general and administrative expenses in the Predecessor periods within the Consolidated Statements of Operations. Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Integration and separation costs $ 314 Selling, general and administrative expenses $ 581 $ 386 $ 10 H&N Business On November 1, 2017, the company completed the FMC Transactions through the acquisition of the H&N Business and the disposition of the Divested Ag Business. The acquisition will be integrated into the nutrition and health product line to enhance DuPont’s position as a leading provider of sustainable, bio-based food ingredients and allow for expanded capabilities in the pharma excipients space. The company accounted for the acquisition in accordance with ASC 805, which requires the assets acquired and liabilities assumed to be recognized on the balance sheet at their fair values as of the acquisition date. The following table summarizes the fair value of consideration exchanged as a result of the FMC Transactions: (In millions) Fair Value of Divested Ag Business 1 $ 3,665 Less: Cash received 2 1,200 Less: Favorable contracts 3 495 Fair Value of H&N Business $ 1,970 1. Refer to Note 4 for additional information. 2. The FMC Transactions include a cash consideration payment to DuPont of approximately $1,200 million , which reflects the difference in value between the Divested Ag Business and the H&N Business, subject to certain customary inventory and net working capital adjustments. 3. Upon closing and pursuant to the terms of the FMC Transaction Agreement, DuPont entered into favorable supply contracts with FMC. DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 4 and 12 for additional information. The table below presents the preliminary fair value that was allocated to the assets acquired and liabilities assumed. The purchase accounting and purchase price allocation for the H&N Business are substantially complete. However, the company continues to refine the preliminary valuation of certain acquired assets, such as inventories, intangibles, deferred income taxes, and property plant and equipment, which could impact the amount of residual goodwill recorded. The company will finalize the amounts recognized as it obtains the information necessary to complete the analysis, but no later than one year from the date of the acquisition. Final determination of the fair values may result in further adjustments to the values presented in the following table. Successor (In millions) November 1, 2017 Fair Value of Assets Cash and cash equivalents $ 16 Accounts and notes receivable 144 Inventories 314 Property, plant and equipment 505 Goodwill 718 Other intangible assets 435 Other current and non-current assets 16 Total Assets $ 2,148 Fair Value of Liabilities Accounts payable and other accrued liabilities $ 70 Deferred income tax liabilities 108 Total Liabilities $ 178 Fair Value of Net Assets (Consideration for the H&N Business) $ 1,970 The significant fair value adjustments included in the preliminary allocation of purchase price are discussed below. Inventories Acquired inventory is comprised of finished goods of $153 million , semi-finished products of $85 million and raw materials and stores and supplies of $76 million . Fair value of inventory was calculated using a net realizable value approach for finished goods and semi-finished products and a replacement cost approach for raw materials and stores and supplies. The preliminary fair value step-up of inventory of $100 million will be recognized in costs of goods sold as the inventory is sold. The pre-tax amount recognized during the period ending November 1 through December 31, 2017, was $35 million , which was reflected in cost of goods sold within loss from continuing operations before income taxes in the Consolidated Statements of Operations. Property, Plant & Equipment Property, plant and equipment is comprised of machinery and equipment of $372 million , buildings of $63 million , land and land improvements of $39 million , and construction in progress of $31 million . The preliminary estimated fair values were determined using a combination of a market approach and replacement cost approach. Goodwill The excess of the consideration for the H&N Business over the preliminary net fair value of assets acquired and liabilities assumed resulted in the recognition of $718 million of goodwill, of which $208 million is tax-deductible. Goodwill is attributable to the H&N Business’s workforce and expected cost synergies in procurement, production and market access. Other Intangible Assets Other intangible assets includes customer-related intangible assets of $268 million , developed technology of $130 million , and trademarks and tradenames of $37 million . The preliminary customer-related fair value was determined using the excess earnings method while the preliminary developed technology, trademarks and tradenames fair values were primarily determined utilizing the relief from royalty method. Results of Operations The following table provides net sales and (loss) income from continuing operations before income taxes of the H&N Business included in the company's results since the acquisition. Successor (In millions) For the Period November 1 through December 31, 2017 Net sales $ 102 Loss from continuing operations before income taxes $ (12 ) The H&N Business results include $35 million that was recognized in cost of goods sold as inventory was sold related to the fair value step-up of inventories in the Consolidated Statements of Operations, for the period of November 1 through December 31, 2017. The company evaluated the disclosure requirements under ASC 805 and determined the H&N Business was not considered a material business combination for purposes of disclosing supplemental pro forma information. |
Divestitures and Other Transact
Divestitures and Other Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | DIVESTITURES AND OTHER TRANSACTIONS Merger Remedy - Divested Ag Business On March 31, 2017, the company and FMC entered into the FMC Transaction Agreement. Under the FMC Transaction Agreement, FMC acquired the Divested Ag Business that DuPont was required to divest in order to obtain EC approval of the Merger Transaction as described in Note 1 and DuPont agreed to acquire the H&N Business. The sale of the Divested Ag Business meets the criteria for discontinued operations and as such, earnings are included within "(Loss) Income from discontinued operations after income taxes" for all periods presented. On November 1, 2017, the company completed the FMC Transactions through the disposition of the Divested Ag Business and the acquisition of the H&N Business. The preliminary fair value as determined by the company of the H&N Business is $1,970 million . The FMC Transactions include a cash consideration payment to DuPont of approximately $1,200 million , which reflects the difference in value between the Divested Ag Business and the H&N Business, as well as favorable contracts with FMC of $495 million , subject to adjustments for inventory of the Divested Ag Business and net working capital of the H&N Business. Due to the proximity of the Merger and the closing of the sale, the carrying value of the Divested Ag Business approximated the fair value of the consideration received, thus no resulting gain or loss was recognized on the sale. Refer to Note 3 for further information on the H&N Business. The results of operations of the Divested Ag Business are presented as discontinued operations as summarized below: Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 1 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Net sales $ 199 $ 1,068 $ 1,385 $ 1,473 Cost of goods sold 194 412 514 521 Other operating charges 17 19 25 Research and development expenses 30 95 139 163 Selling, general and administrative expenses 2 102 146 176 187 Restructuring and asset related charges - net (1 ) — (4 ) 15 Sundry (expense) income - net (1 ) 7 1 7 (Loss) Income from discontinued operations before income taxes (127 ) 405 542 569 (Benefit from) Provision for income taxes (50 ) 79 103 121 (Loss) Income from discontinued operations after income taxes $ (77 ) $ 326 $ 439 $ 448 1. Includes results of operations for the period September 1 through October 31, 2017, as the Divested Ag Business was disposed of on November 1, 2017. 2. Successor period includes $44 million of transaction costs associated with the disposal of the Divested Ag Business. The following table presents depreciation and capital expenditures of the discontinued operations related to the Divested Ag Business: Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Depreciation $ — $ 21 $ 32 $ 30 Capital expenditures $ 5 $ 8 $ 40 $ 77 The carrying amount of major classes of assets and liabilities classified as assets and liabilities of discontinued operations at December 31, 2016 related to the Divested Ag Business consist of the following: Predecessor (In millions) December 31, 2016 Cash and cash equivalents $ 57 Accounts and notes receivable - net 12 Inventories 323 Other current assets 1 Property, plant and equipment - net 380 Goodwill 11 Other assets 5 Assets held for sale $ 789 Accounts payable 27 Accrued and other current liabilities 12 Deferred income tax liabilities 6 Other noncurrent obligations 29 Liabilities held for sale $ 74 Upon closing and pursuant to the terms of the FMC Transaction Agreement, DuPont and FMC entered into favorable supply agreements and certain ancillary agreements, including manufacturing service agreements and transition service agreements. Under the terms of the favorable supply agreements, FMC will supply product to DuPont at cost for a period of up to five years and, as a result, DuPont recorded an intangible asset of $495 million upon closing that will amortize over a period of five years . Food Safety Diagnostic Sale In February 2017, the company completed the sale of global food safety diagnostics to Hygiena LLC. The sale resulted in a pre-tax gain of $162 million ( $86 million net of tax). The gain was recorded in sundry income - net in the company's Consolidated Statement of Operations for the period January 1 through August 31, 2017 . DuPont (Shenzhen) Manufacturing Limited In March 2016, the company recognized the sale of its 100 percent ownership interest in DuPont (Shenzhen) Manufacturing Limited to the Feixiang Group. The sale of the entity, which held certain buildings and other assets, resulted in a pre-tax gain of $369 million ( $214 million net of tax). The gain was recorded in sundry income - net in the company's Consolidated Statement of Operations for the year ended December 31, 2016 . Performance Chemicals On July 1, 2015, DuPont completed the separation of its Performance Chemicals segment through the spin-off of all of the issued and outstanding stock of The Chemours Company (the "Separation"). In connection with the Separation, the company and The Chemours Company ("Chemours") entered into a Separation Agreement (the "Separation Agreement"), discussed below, and a Tax Matters Agreement and certain ancillary agreements, including an employee matters agreement, agreements related to transition and site services, and intellectual property cross licensing arrangements. In addition, the companies have entered into certain supply agreements. Separation Agreement The company and Chemours entered into a Separation Agreement that sets forth, among other things, the agreements between the company and Chemours regarding the principal transactions necessary to effect the Separation and also sets forth ancillary agreements that govern certain aspects of the company’s relationship with Chemours after the separation. Among other matters, the Separation Agreement and the ancillary agreements provide for the allocation between DuPont and Chemours of assets, employees, liabilities and obligations (including investments, property and employee benefits and tax-related assets and liabilities) attributable to periods prior to, at and after the completion of the Separation. Pursuant to the Separation Agreement and the Amendment to the Separation Agreement, as discussed below, Chemours indemnifies DuPont against certain litigation, environmental, workers' compensation and other liabilities that arose prior to the distribution. The term of this indemnification is generally indefinite and includes defense costs and expenses, as well as monetary and non-monetary settlements and judgments. In 2017, DuPont and Chemours amended the Separation Agreement to provide for a limited sharing of potential future PFOA liabilities for a period of five years beginning July 6, 2017. In connection with the recognition of liabilities related to these matters, the company records an indemnification asset when recovery is deemed probable. At December 31, 2017 , the indemnified assets are $80 million within accounts and notes receivable - net and $340 million within other assets along with the corresponding liabilities of $80 million within accrued and other current liabilities and $340 million within other noncurrent obligations on the Condensed Consolidated Balance Sheet. See Note 14 for further discussion of the amendment to the Separation Agreement and certain litigation and environmental matters indemnified by Chemours. The results of operations of the Performance Chemicals segment are presented as discontinued operations as summarized below: Predecessor (In millions) For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Net sales $ — $ — $ 2,810 Cost of goods sold — — 2,215 Other operating charges 335 36 386 Research and development expense — — 40 Selling, general and administrative expenses — — (87 ) Restructuring and asset related charges - net — — 59 Sundry income - net 3 3 27 Interest expense — — 32 (Loss) income from discontinued operations before income taxes (332 ) (33 ) 192 (Benefit from) provision for income taxes (125 ) (28 ) 106 (Loss) income from discontinued operations after income taxes $ (207 ) $ (5 ) $ 86 Income (loss) from discontinued operations after income taxes for the period January 1 through August 31, 2017 includes a charge of $335 million ( $214 million net of tax) in connection with the perfluorooctanoic acid (“PFOA”) multi-district litigation settlement. During the years ended December 31, 2016 and 2015, the company incurred $35 million and $306 million of costs, respectively, in connection with the separation primarily related to professional fees associated with preparation of regulatory filings and separation activities within finance, tax, legal, and information system functions. (Loss) income from discontinued operations during the years ended December 31, 2016 and 2015, includes $35 million and $260 million of these costs, respectively. Income from continuing operations during the year ended December 31, 2015 includes $26 million of these costs, recorded in other operating charges in the company's Consolidated Statements of Operations. Income from continuing operations during the year ended December 31, 2015 also included $20 million of transaction costs incurred for a premium associated with the early retirement of DuPont debt. The company exchanged notes received from Chemours in May 2015 (as part of a dividend payment) for DuPont debt that it then retired. These costs were reported in interest expense in the company's Consolidated Statements of Operations. In connection with the separation, income from discontinued operations during the year ended December 31, 2015 included pension and other post employment benefit plan curtailment gain of $281 million . In addition, income from discontinued operations during the year ended December 31, 2015, included a restructuring charge of $59 million , consisting of severance and related benefit costs associated with the Performance Chemicals segment to achieve fixed cost and operational productivity improvements for Chemours post-spin. In connection with the spin-off, the company received a dividend from Chemours in May 2015 of $3,923 million comprised of a cash distribution of $3,416 million and a distribution in-kind of $507 million of 7 percent senior unsecured notes due 2025 (Chemours Notes Received). Chemours financed the dividend payment through issuance of approximately $4,000 million of debt, including the Chemours Notes Received (Chemours' Debt). Net assets of $431 million were transferred to Chemours on July 1, 2015, including the $4,000 million of Chemours' Debt. The following table presents the depreciation, amortization and purchases of property, plant and equipment of the discontinued operations related to Performance Chemicals: (In millions) Predecessor For the year ended December 31, 2015 Depreciation $ 126 Amortization of intangible assets 2 Capital Expenditures 235 |
Restructuring and Asset Related
Restructuring and Asset Related Charges | 12 Months Ended |
Dec. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Activities Disclosure [Text Block] | RESTRUCTURING AND ASSET RELATED CHARGES - NET DowDuPont Cost Synergy Program In September and November 2017, DowDuPont and the company approved post-merger restructuring actions under the DowDuPont Cost Synergy Program (the “Synergy Program”), adopted by the DowDuPont Board of Directors. The plan is designed to integrate and optimize the organization following the Merger and in preparation for the Intended Business Separations. Based on all actions approved to date under the Synergy Program, DuPont expects to record total pre-tax restructuring charges of $430 million to $600 million , comprised of approximately $320 million to $360 million of severance and related benefits costs; $110 million to $140 million of costs related to contract terminations; and up to $100 million of asset related charges. The Synergy Program includes certain asset actions, including strategic decisions regarding the cellulosic biofuel unit reflected in the preliminary fair value measurement of DuPont’s assets as of the merger date. Current estimated total pre-tax restructuring charges could be impacted by future adjustments to the preliminary fair value of DuPont’s assets. For the period September 1 through December 31, 2017, DuPont recorded a pre-tax charge of $187 million , consisting of severance and related benefit costs of $153 million , contract termination costs of $31 million and asset-related charges of $3 million . The charge for the period September 1 through December 31, 2017 was recognized in restructuring and asset related charges - net in the company's Consolidated Statements of Operations. Substantially all of the remaining restructuring charges are expected to be incurred in 2018 and the related actions, including employee separations, associated with this plan are expected to be substantially complete by the end of 2019. DuPont account balances and activity for the DowDuPont Cost Synergy Program are summarized below: (In millions) Severance and Related Benefit Costs Other Non-Personnel Charges 1 Asset-Related Charges Total Charges to income from continuing operations for the period September 1 through December 31, 2017 (Successor) $ 153 $ 31 $ 3 $ 187 Payments (13 ) (3 ) — (16 ) Asset write-offs — — (3 ) (3 ) Non-cash compensation (7 ) — — (7 ) Balance as of December 31, 2017 $ 133 $ 28 $ — $ 161 1. Other non-personnel charges consist of contractual obligation costs. 2017 Restructuring Program During the first quarter 2017, DuPont committed to take actions to improve plant productivity and better position its product lines for productivity and growth before and after the anticipated closing of the Merger Transaction (the "2017 restructuring program"). In connection with these actions, the company incurred pre-tax charges of $313 million during the period from January 1 through August 31, 2017 ("Predecessor" period) recognized in restructuring and asset related charges - net in the company's Consolidated Statements of Operations. The charge is comprised of $279 million of asset-related charges and $34 million in severance and related benefit costs. The charges primarily relate to the second quarter closure of the safety and construction product line at the Cooper River manufacturing site located near Charleston, South Carolina. The asset-related charges mainly consist of accelerated depreciation associated with the closure. The actions associated with this plan are substantially complete as of December 31, 2017. Account balances and activity for the 2017 restructuring program are summarized below: (In millions) Severance and Related Benefit Costs Asset Related Charges 1 Total Charges to income from continuing operations for the period January 1 through August 31, 2017 (Predecessor) $ 34 $ 279 $ 313 Payments (8 ) — (8 ) Asset write-offs — (279 ) $ (279 ) Balance as of August 31, 2017 $ 26 $ — $ 26 Charges to income from continuing operations for the period September 1 through December 31, 2017 (Successor) $ — $ — $ — Payments (7 ) — (7 ) Balance as of December 31, 2017 $ 19 $ — $ 19 1. Includes accelerated depreciation related to site closure. Charge for accelerated depreciation represents the difference between the depreciation expense to be recognized over the revised useful life of the site, based upon the anticipated date the site will be closed and depreciation expense as determined utilizing the useful life prior to the restructuring action. La Porte Plant, La Porte, Texas In March 2016, DuPont announced its decision to not re-start its insecticide manufacturing facility at the La Porte site located in La Porte, Texas. The facility manufactured Lannate ® and Vydate ® insecticides and has been shut down since November 2014. As a result of this decision, during the year ended December 31, 2016 , a pre-tax charge of $68 million was recorded in restructuring and asset related charges - net in the company's Consolidated Statement of Operations which included $41 million of asset related charges, $16 million of employee severance and related benefit costs, and $11 million of contract termination costs. 2016 Global Cost Savings and Restructuring Plan In December 2015, DuPont committed to take structural actions across all product lines and staff functions globally to operate more efficiently by further consolidating product lines and aligning staff functions more closely with them as part of a 2016 global cost savings and restructuring plan. As a result, during the year ended December 31, 2015, a pre-tax charge of $783 million was recorded, consisting of $778 million of restructuring and asset related charges - net and $5 million in sundry income - net in the company's Consolidated Statement of Operations. The charges consisted of $641 million in severance and related benefit costs, $109 million in asset related charges, and $33 million in contract termination charges. During the year ended December 31, 2016, in connection with the restructuring actions, the company recorded a net pre-tax benefit to earnings of $(81) million , consisting of $(84) million in restructuring and asset related charges - net and $3 million in sundry income - net in the company's Consolidated Statement of Operations. The net benefit was comprised of a reduction of $(150) million in severance and related benefit costs, offset by $53 million of asset related charges, and $16 million of contract termination costs. This was primarily due to a reduction in severance and related benefit costs partially offset by the identification of additional projects. The reduction in severance and related benefit costs was driven by elimination of positions at a lower cost than expected as a result of redeployments and attrition as well as lower than estimated individual severance costs. The company incurred pre-tax charges of $10 million during the period January 1 through August 31, 2017, recognized in restructuring and asset related charges - net in the company’s Consolidated Statement of Operations. This was due to additional severance payments owed to previously terminated executives that became probable during the period. The company incurred a pre-tax benefit of $(5) million for the period from September 1 through December 31, 2017. The reduction in severance and related benefit costs was driven by the elimination of positions at a lower cost than expected. Account balances and activity for the restructuring program are summarized below: (In millions) Severance and Related Benefit Costs Other Non-Personnel Charges 1 Total Balance at December 31, 2016 (Predecessor) $ 100 $ 22 $ 122 Payments (76 ) (11 ) (87 ) Net translation adjustment 2 — 2 Other adjustments 10 — 10 Balance as of August 31, 2017 $ 36 $ 11 $ 47 Balance at September 1, 2017 (Successor) $ 36 $ 11 $ 47 Payments (18 ) (2 ) (20 ) Other adjustments (5 ) — (5 ) Balance as of December 31, 2017 $ 13 $ 9 $ 22 1. Other non-personnel charges consist of contractual obligation costs. 2014 Restructuring Program In June 2014, DuPont announced its global, multi-year initiative to redesign its global organization and operating model to reduce costs and improve productivity and agility across all product lines and functions. During the period from September 1 through December 31, 2017, and the years ended December 31, 2016 and 2015, benefits of $(2) million , $(21) million and $(21) million were recorded, respectively, in restructuring and asset related charges - net in the company's Consolidated Statements of Operations to reduce the accrual for severance costs associated with this program. Asset Impairment In the fourth quarter 2015, the company elected to defer further testing and deployment of a multi-year, phased implementation of an enterprise resource planning (ERP) system; which had not been placed in service as of year-end. At December 31, 2016, the company had capitalized costs associated with the ERP system of $435 million . In connection with IT strategy reviews conducted during the fourth quarter of 2016, the company reviewed considerations around the timing of restarting testing and deployment of the ERP system. As a result, the company concluded it intended to complete and place in service the ERP system, however, given the uncertainties related to implementation timing as well as potential developments and changes to technologies in the market place at the time of restart, use of this ERP system could no longer be considered probable. As a result, due to the specificity of the design related to the ERP system, the company determined that the uncompleted ERP system had a fair value of zero and recorded a pre-tax charge of $435 million in restructuring and asset related charges - net in the company's Consolidated Statement of Operations during the year ended December 31, 2016. The company recognized a $158 million pre-tax impairment charge in restructuring and asset related charges - net in the company's Consolidated Statement of Operations during the year ended December 31, 2016 related to indefinite-lived intangible trade names. In connection with the company's strategy reviews and brand realignment conducted during the third quarter 2016, the company decided to phase out the use of certain acquired trade names resulting in a change from an indefinite life to a finite useful life for these assets. As a result of these changes, the carrying value of the trade name assets exceeded the fair value. The basis of the fair value for the charges was calculated utilizing an income approach (relief from royalty method) using Level 3 inputs within the fair value hierarchy, as described in Note 1. The key assumptions used in the calculation included projected revenue, royalty rates and discount rates. These key assumptions involve management judgment and estimates relating to future operating performance and economic conditions that may differ from actual cash flows. After the recognition of the impairment charge, the remaining net book value of the trade names was $28 million , which represented fair value. During the first quarter 2015, a $38 million pre-tax impairment charge was recorded in restructuring and asset related charges - net in the company's Consolidated Statement of Operations. The majority relates to a cost basis investment in which the assessment resulted from the venture's revised operating plan reflecting underperformance of its European wheat based ethanol facility and deteriorating European ethanol market conditions. One of the primary investors communicated that they would not fund the revised operating plan of the investee. As a result, the carrying value of DuPont's 6 percent cost basis investment in this venture exceeds its fair value by $37 million , such that an impairment charge was recorded. |
Supplementary Information
Supplementary Information | 12 Months Ended |
Dec. 31, 2017 | |
Supplementary Information [Abstract] | |
Additional Financial Information Disclosure [Text Block] | SUPPLEMENTARY INFORMATION Sundry Income - Net Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Royalty income 1 $ 84 $ 170 $ 138 Interest income $ 41 83 102 124 Equity in earnings of affiliates - net 1 55 99 49 Net gain on sales of businesses and other assets 2,3 16 205 435 92 Net exchange gains (losses) 8 (394 ) (106 ) 30 Miscellaneous income and expenses - net 4 24 133 7 257 Sundry income - net $ 90 $ 166 $ 707 $ 690 1. In the Successor period, royalty income of $60 million is included in Net Sales. 2. Includes a pre-tax gain of $162 million ( $86 million net of tax) for the period January 1 through August 31, 2017 related to the sale of global food safety diagnostics. See Note 4 for additional information. 3. Includes a pre-tax gain of $369 million ( $214 million net of tax) for the year ended December 31, 2016 related to the sale of DuPont (Shenzhen) Manufacturing Limited. See Note 4 for additional information. 4. Miscellaneous income and expenses - net, includes interest items (in the Predecessor period only), gains (losses) on available for sale securities, gains related to litigation settlements, licensing income, gains on purchases, and other items. The following table summarizes the impacts of the company's foreign currency hedging program on the company's results of operations. The company routinely uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency-denominated monetary assets and liabilities. The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions. The hedging program gains (losses) are largely taxable (tax deductible) in the United States (U.S.), whereas the offsetting exchange gains (losses) on the remeasurement of the net monetary asset positions are often not taxable (tax deductible) in their local jurisdictions. The net pre-tax exchange gains (losses) are recorded in sundry income - net and the related tax impact is recorded in provision for income taxes on continuing operations in the Consolidated Statements of Operations. Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Subsidiary Monetary Position (Loss) Gain Pre-tax exchange (loss) gain $ (83 ) $ 37 $ 198 $ (404 ) Local tax (expenses) benefits (3 ) 217 (126 ) (61 ) Net after-tax impact from subsidiary exchange (loss) gain $ (86 ) $ 254 $ 72 $ (465 ) Hedging Program Gain (Loss) Pre-tax exchange gain (loss) $ 91 $ (431 ) $ (304 ) $ 434 Tax (expenses) benefits (33 ) 155 110 (157 ) Net after-tax impact from hedging program exchange gain (loss) $ 58 $ (276 ) $ (194 ) $ 277 Total Exchange Gain (Loss) Pre-tax exchange gain (loss) $ 8 $ (394 ) $ (106 ) $ 30 Tax (expenses) benefits (36 ) 372 (16 ) (218 ) Net after-tax exchange (loss) gain $ (28 ) $ (22 ) $ (122 ) $ (188 ) Other current assets Other current assets includes approximately $558 million of restricted cash related to the Rabbi Trust as of December 31, 2017. See Note 16 for additional information. Accrued and other current liabilities Accrued and other current liabilities were $4,384 million at December 31, 2017 and $4,650 million at December 31, 2016 . Deferred revenue and compensation and other employee-related costs, which are components of accrued and other current liabilities, were $2,014 million and $857 million at December 31, 2017 , respectively and $2,217 million and $807 million at December 31, 2016 , respectively. No other components of accrued and other current liabilities were more than 5 percent of total current liabilities. Other noncurrent obligations Other noncurrent obligations were $1,975 million at December 31, 2017 and $12,304 million at December 31, 2016 . Accrued pension benefit costs and accrued other post employment benefit costs, which are components of other noncurrent obligations in the Predecessor period, were $8,092 million and $2,554 million at December 31, 2016 , respectively. In the Successor period, accrued pension benefit costs and accrued other post employment benefit costs are included in the line item, pension and other post employment benefits - noncurrent in the Consolidated Balance Sheets. See Note 1 for discussion of reclassification adjustments. No other components of other noncurrent obligations were more than 5 percent of total liabilities. Related Parties Transactions with DowDuPont DowDuPont relies on distributions and other intercompany transfers from DuPont and Dow to fund payment of its costs and expenses. In November 2017, DowDuPont’s Board of Directors declared a fourth quarter dividend per share of DowDuPont common stock payable on December 15, 2017 and authorized an initial $4,000 million share repurchase program to buy back shares of DowDuPont common stock. In the fourth quarter of 2017, DuPont declared and paid distributions in cash and in-kind to DowDuPont of $829 million , primarily to fund a portion of DowDuPont’s fourth quarter share repurchases and dividend payment. In addition, at December 31, 2017, DuPont had a payable to DowDuPont of $354 million , included in accounts payable in the Consolidated Balance Sheets related to its estimated 2017 tax liability. See Note 7 for additional information. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | INCOME TAXES On December 22, 2017, the Tax Cuts and Jobs Act (“The Act”) was enacted. The Act reduces the U.S. federal corporate income tax rate from 35 percent to 21 percent , requires companies to pay a one-time transition tax (“transition tax”) on earnings of foreign subsidiaries that were previously tax deferred, creates new provisions related to foreign sourced earnings, eliminates the domestic manufacturing deduction and moves to a territorial system. At December 31, 2017, the company had not completed its accounting for the tax effects of The Act; however, as described below, the company has made a reasonable estimate of the effects on its existing deferred tax balances and the one-time transition tax. In accordance with Staff Accounting Bulletin 118 ("SAB 118"), during the measurement period, income tax effects of the Act may be refined upon obtaining, preparing, or analyzing additional information, and such changes could be material. During the measurement period, provisional amounts may be also be adjusted for the effects, if any, of interpretative guidance issued after December 31, 2017, by U.S. regulatory and standard-setting bodies. • As a result of The Act, the company remeasured its U.S. federal deferred income tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21 percent . However, the company is still analyzing certain aspects of The Act and refining its calculations, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. The provisional amount recorded related to the remeasurement of the company’s deferred income tax balance was $(2,716) million and was recorded as a benefit to the provision for income taxes on continuing operations. • The Act requires a mandatory deemed repatriation of post-1986 undistributed foreign earnings and profits (“E&P”), which results in a one-time transition tax. As a result, the company has recorded a provisional amount for the transition tax liability for its foreign subsidiaries of $715 million , recorded as a charge to the provision for income taxes on continuing operations. The company has not yet completed its calculation of the total post-1986 foreign E&P for its foreign subsidiaries as E&P will not be finalized until the Federal income tax return is filed. Further, the transition tax is based in part on the amount of those earnings held in cash and other specified assets which is a defined term under The Act. • For tax years beginning after December 31, 2017, The Act introduces new provisions for U.S. taxation of certain global intangible low-taxed income (“GILTI”). Due to its complexity and a current lack of guidance as to how to calculate the tax, the company is not yet able to determine a reasonable estimate for the impact of the incremental tax liability. When additional guidance is available, the company will make a policy election on whether the additional liability will be recorded in the period in which it is incurred or recognized for the basis differences that would be expected to reverse in future years. Geographic Allocation of Income and Provision for Income Taxes Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 Year Ended 2016 Year Ended 2015 (Loss) Income from continuing operations before income taxes Domestic $ (811 ) $ 409 $ 1,415 $ 1,301 Foreign (775 ) 1,382 1,308 721 (Loss) Income from continuing operations before income taxes $ (1,586 ) $ 1,791 $ 2,723 $ 2,022 Current tax expense (benefit) Federal $ 216 $ (563 ) $ 4 $ 155 State and local 22 (11 ) 9 2 Foreign 187 282 539 420 Total current tax expense (benefit) $ 425 $ (292 ) $ 552 $ 577 Deferred tax (benefit) expense Federal $ (2,790 ) $ 476 $ 22 $ 135 State and local (48 ) (8 ) (29 ) 4 Foreign (260 ) (27 ) 96 (141 ) Total deferred tax (benefit) expense $ (3,098 ) $ 441 $ 89 $ (2 ) (Benefit from) Provision for income taxes on continuing operations (2,673 ) 149 641 575 Net Income from continuing operations $ 1,087 $ 1,642 $ 2,082 $ 1,447 International pre-tax (loss) earnings from continuing operations was $(775) million , $1,382 million , $1,308 million , and $721 million for the period September 1 through December 31, 2017, the period January 1 through August 31, 2017, and the years ended December 31, 2016 and 2015, respectively. In connection with the Merger, pre-tax earnings from continuing operations for the period September 1 through December 31, 2017 includes depreciation and amortization associated with the fair value that was allocated to the company’s tangible and intangible assets as well as costs of $1,469 million recognized in cost of goods sold related to the fair value step-up of inventories (See Note 3 and 10 for further information). The U.S. pre-tax earnings from continuing operations for the period January 1 through August 31, 2017 includes transaction costs associated with the Merger and restructuring and asset related charges (which are mostly incurred in the US). These decreases were partially offset by the gain on the sale of the company's food safety diagnostics business in the first quarter 2017. The increase in pre-tax earnings from continuing operations from 2015 to 2016 is primarily driven by the gain on the sale of DuPont (Shenzhen) Manufacturing Limited in 2016 in addition to the absence of 2015 restructuring and asset related charges - net. Reconciliation to U.S. Statutory Rate Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 Year Ended 2016 Year Ended 2015 Statutory U.S. federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % Equity earning effect 0.9 (0.5 ) (0.8 ) (0.7 ) Lower effective tax rates on international operations - net (9.5 ) (11.4 ) (9.2 ) (9.7 ) Acquisitions, divestitures and ownership restructuring activities 1, 2 15.8 5.2 1.9 (0.2 ) U.S. research and development credit 0.4 (0.8 ) (0.7 ) (1.5 ) Exchange gains/losses 3 (1.8 ) (12.9 ) 1.9 10.2 Impact of U.S. Tax Reform 126.1 Excess tax benefits from stock compensation 4 0.1 (1.7 ) Tax settlements and expiration of statute of limitations 5 — (3.8 ) (1.1 ) (1.5 ) Other - net 1.5 (0.8 ) (3.5 ) (3.2 ) Effective tax rate 168.5 % 8.3 % 23.5 % 28.4 % 1. See Notes 3 and 4 for additional information. 2. Includes a net tax benefit of $261 million related to an internal legal entity restructuring associated with the Intended Business Separations. 3. Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 6 and Note 18 under the heading Foreign Currency Risk. 4. Reflects the impact of the adoption of Accounting Standards Update ("ASU") 2016-09, which resulted in the recognition of excess tax benefits related to equity compensation in the (benefit from) provision for income taxes on continuing operations. See Note 2 for additional information. 5. The period January 1 through August 31, 2017 includes a tax benefit of $53 million for accrued interest reversals (recorded in sundry income - net). Deferred Tax Balances at December 31 2017 (Successor) 2016 (Predecessor) (In millions) Assets Liabilities Assets Liabilities Property $ — $ 1,160 $ — $ 742 Tax loss and credit carryforwards 1,690 — 1,808 — Accrued employee benefits 1,988 68 4,529 410 Other accruals and reserves 333 39 617 222 Intangibles 284 6,286 210 1,345 Inventory 130 597 163 138 Long-term debt 109 — — — Investments 23 453 126 230 Unrealized exchange gains/losses — 71 — 346 Other – net 260 121 257 86 Subtotal $ 4,817 $ 8,795 $ 7,710 $ 3,519 Valuation allowances (1,378 ) — (1,308 ) — Total $ 3,439 $ 8,795 $ 6,402 $ 3,519 Net Deferred Tax (Liability) Asset $ (5,356 ) $ 2,883 Operating Loss and Tax Credit Carryforwards Deferred Tax Asset (In millions) 2017 (Successor) 2016 (Predecessor) Operating loss carryforwards Expire within 5 years $ 42 $ 41 Expire after 5 years or indefinite expiration 1,483 1,482 Total operating loss carryforwards $ 1,525 $ 1,523 Tax credit carryforwards Expire within 5 years $ 10 $ 10 Expire after 5 years or indefinite expiration 155 275 Total tax credit carryforwards $ 165 $ 285 Total Operating Loss and Tax Credit Carryforwards $ 1,690 $ 1,808 Total Gross Unrecognized Tax Benefits Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 Year Ended 2016 Year Ended 2015 (In millions) Total unrecognized tax benefits as of beginning of period $ 436 $ 348 $ 558 $ 735 Decreases related to positions taken on items from prior years (2 ) (19 ) (41 ) (98 ) Increases related to positions taken on items from prior years 9 3 32 13 Increases related to positions taken in the current year 19 19 32 32 Settlement of uncertain tax positions with tax authorities 1 (6 ) (205 ) (58 ) Decreases due to expiration of statutes of limitations (5 ) (81 ) (30 ) (30 ) Exchange loss (gain) 1 1 2 (36 ) Total unrecognized tax benefits as of end of period $ 459 $ 265 $ 348 $ 558 Total unrecognized tax benefits that, if recognized, would impact the effective tax rate $ 76 $ 188 $ 253 $ 386 Total amount of interest and penalties (benefit) recognized in Provision for income taxes on continuing operations $ 1 $ (27 ) $ 10 $ (14 ) Total accrual for interest and penalties associated with unrecognized tax benefits $ 25 $ 22 $ 71 $ 88 Each year the company files hundreds of tax returns in the various national, state and local income taxing jurisdictions in which it operates. These tax returns are subject to examination and possible challenge by the tax authorities. Positions challenged by the tax authorities may be settled or appealed by the company. As a result, there is an uncertainty in income taxes recognized in the company's financial statements in accordance with accounting for income taxes and accounting for uncertainty in income taxes. It is reasonably possible that changes to the company’s global unrecognized tax benefits could be significant; however, due to the uncertainty regarding the timing of completion of audits and possible outcomes, a current estimate of the range of increases or decreases that may occur within the next twelve months cannot be made. Tax years that remain subject to examination for the company’s major tax jurisdictions are shown below: Tax Years Subject to Examination by Major Tax Jurisdiction at Dec 31, Earliest Open Year Jurisdiction Brazil 2012 Canada 2011 China 2014 Denmark 2003 Germany 2006 India 2001 The Netherlands 2014 Switzerland 2012 United States: Federal income tax 2012 State and local income tax 2004 Undistributed earnings of foreign subsidiaries and related companies that are deemed to be permanently invested amounted to $15,408 million at December 31, 2017, $17,380 million at December 31, 2016 and $16,053 million at December 31, 2015. The Act imposed U.S. tax on all foreign unrepatriated earnings. These undistributed earnings are still subject to certain taxes upon repatriation, primarily foreign withholding taxes. It is not practicable to calculate the unrecognized deferred tax liability on undistributed earnings. DuPont and its subsidiaries are included in DowDuPont's consolidated federal income tax group and consolidated tax return. Generally, the consolidated tax liability of the DowDuPont U.S. tax group for each year will be apportioned among the members of the consolidated group based on each member’s separate taxable income. DuPont and Dow intend that to the extent Federal and/or State corporate income tax liabilities are reduced through the utilization of tax attributes of the other, settlement of any receivable and payable generated from the use of the other party’s sub-group attributes will be in accordance with a tax sharing agreement and/or tax matters agreement. |
Earnings Per Share of Common St
Earnings Per Share of Common Stock | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | EARNINGS PER SHARE OF COMMON STOCK Upon completion of the Merger, each share of DuPont Common Stock was converted into the right to receive 1.2820 fully paid and non-assessable shares of DowDuPont Common Stock, in addition to cash in lieu of any fractional shares of DowDuPont Common Stock issued and therefore earnings per share of common stock information is not presented for the Successor period. Set forth below is a reconciliation of the numerator and denominator for basic and diluted earnings per share calculations for the Predecessor periods indicated below: Predecessor (In millions, except share amounts) For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Numerator: Income from continuing operations after income taxes attributable to DuPont $ 1,624 $ 2,072 $ 1,443 Preferred dividends (7 ) (10 ) (10 ) Income from continuing operations after income taxes available to DuPont common stockholders $ 1,617 $ 2,062 $ 1,433 Income from discontinued operations after income taxes available to DuPont common stockholders 117 441 510 Net income available to common stockholders $ 1,734 $ 2,503 $ 1,943 Denominator: Weighted-average number of common shares outstanding - Basic 867,888,000 872,560,000 893,992,000 Dilutive effect of the company’s employee compensation plans 1 4,532,000 4,476,000 5,535,000 Weighted-average number of common shares outstanding - Diluted 1 872,420,000 877,036,000 899,527,000 1. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. The following average number of stock options were antidilutive, and therefore not included in the dilutive earnings per share calculations: Predecessor For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Average number of stock options 1,906 4,794,000 4,715,000 |
Accounts and Notes Receivable,
Accounts and Notes Receivable, Net | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Accounts and Notes Receivables, Net | ACCOUNTS AND NOTES RECEIVABLE, NET Successor Predecessor (In millions) December 31, December 31, Accounts receivable – trade 1 $ 3,777 $ 3,601 Notes receivable – trade 2 199 206 Other 3 1,263 1,152 Total accounts and notes receivable - net $ 5,239 $ 4,959 1. Accounts receivable – trade is net of allowances of $10 million at December 31, 2017 and $287 million at December 31, 2016. Allowances are equal to the estimated uncollectible amounts. That estimate is based on historical collection experience, current economic and market conditions, and review of the current status of customers' accounts. 2. Notes receivable – trade primarily consists of receivables within the agriculture product line for deferred payment loan programs for the sale of seed products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2017 and 2016, there were no significant past due notes receivable, nor were there any significant impairments related to current loan agreements. 3. Other includes receivables in relation to fair value of derivative instruments, indemnification assets, value added tax, general sales tax and other taxes. No individual group represents more than ten percent of total receivables. Accounts and notes receivable are carried at amounts that approximate fair value. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2017 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | INVENTORIES Successor Predecessor (In millions) December 31, December 31, Finished products $ 4,500 $ 2,961 Semi-finished products 2,769 1,877 Raw materials 371 292 Stores and supplies 447 398 Total $ 8,087 $ 5,528 Adjustment of inventories to a LIFO basis 546 (178 ) Total inventories $ 8,633 $ 5,350 As a result of the Merger, a fair value step-up of $3,842 million was recorded for inventories. Of this amount, $1,434 million has been recognized in costs of goods sold within loss from continuing operations for the period September 1, 2017 through December 31, 2017. See Note 3 for additional information regarding the Merger. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | PROPERTY, PLANT AND EQUIPMENT Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Land and land improvements $ 913 $ 501 Buildings 2,747 4,224 Machinery and equipment 8,104 16,909 Construction in progress 1,114 1,381 Total property, plant and equipment 12,878 23,015 Accumulated depreciation (443 ) (14,164 ) Total property, plant and equipment - net $ 12,435 $ 8,851 As a result of the Merger, a fair value step-up of $3,200 million was recorded for property, plant and equipment. See Note 3 for additional information regarding the Merger. Buildings, machinery and equipment and land improvements are depreciated over useful lives on a straight-line basis ranging from 1 to 25 years. Capitalizable costs associated with computer software for internal use are amortized on a straight-line basis over 1 to 8 years. Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Depreciation expense $ 426 $ 589 $ 907 $ 948 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The following table summarizes changes in the carrying amount of goodwill for the period September 1 through December 31, 2017 , the period January 1 through August 31, 2017 , and the year ended December 31, 2016: (In millions) Balance as of December 31, 2015 ( Predecessor ) $ 4,238 Currency Translation Adjustment (68 ) Other Goodwill Adjustments and Acquisitions (1 ) Balance as of December 31, 2016 ( Predecessor ) 4,169 Currency Translation Adjustment 176 Other Goodwill Adjustments and Acquisitions 198 Balance as of August 31, 2017 ( Predecessor ) $ 4,543 Balance at September 1, 2017 ( Successor ) $ 45,105 Currency Translation Adjustment (234 ) Goodwill Recognized for H&N Acquisition 718 Balance as of December 31, 2017 ( Successor ) $ 45,589 In 2017 and 2016, the company performed impairment tests for goodwill and determined that no goodwill impairments existed. Other Intangible Assets The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows: Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets subject to amortization (Definite-lived): Customer-related $ 9,502 $ (186 ) $ 9,316 $ 1,574 $ (586 ) $ 988 Developed technology 4,364 (144 ) 4,220 1,410 (838 ) 572 Trademarks/trade names 1,117 (26 ) 1,091 53 (15 ) 38 Favorable supply contracts 1 495 (17 ) 478 Microbial cell factories 2 397 (6 ) 391 Other 3 459 (10 ) 449 171 (82 ) 89 Total other intangible assets with finite lives 16,334 (389 ) 15,945 3,208 (1,521 ) 1,687 Intangible assets not subject to amortization (Indefinite-lived): In-process research and development ("IPR&D") 660 — 660 73 — 73 Microbial cell factories 2 306 — 306 Germplasm 4 6,265 — 6,265 1,053 — 1,053 Trademarks / trade names 4,856 — 4,856 545 — 545 Total other intangible assets 11,781 — 11,781 1,977 — 1,977 Total $ 28,115 $ (389 ) $ 27,726 $ 5,185 $ (1,521 ) $ 3,664 1. Upon closing and pursuant to the terms of the FMC Transaction Agreement, DuPont entered into favorable supply contracts with FMC. DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 3 and 4 for additional information. 2. Microbial cell factories, derived from natural microbes, are used to sustainably produce enzymes, peptides and chemicals using natural metabolic processes. The company recognized the microbial cell factories as intangible assets upon the acquisition of Danisco. As a result of the valuation as part of the Merger, it was determined that this intangible asset now has a definite life and therefore it has been moved from indefinite-lived to definite-lived as of September 1, 2017. 3. Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements. 4. Pioneer germplasm is the pool of genetic source material and body of knowledge gained from the development and delivery stage of plant breeding. The company recognized germplasm as an intangible asset upon the acquisition of Pioneer. This intangible asset is expected to contribute to cash flows beyond the foreseeable future and there are no legal, regulatory, contractual, or other factors which limit its useful life. In connection with the Merger, the company recorded $27,221 million of intangible assets, as shown in the table below, representing the preliminary fair values at the Merger date. See Note 3 for additional information regarding the Merger. Intangible Assets Gross Carrying Amount Weighted-average Amortization Period (years) (In millions) Intangible assets with finite lives: Customer-related $ 9,264 17 Developed technology 4,239 12 Trademarks/trade names 1,080 15 Microbial cell factories 400 23 Other 453 17 Total other intangible assets with finite lives $ 15,436 Intangible assets with indefinite lives: IPR&D $ 660 Germplasm 6,263 Trademarks/trade names 4,862 Total intangible assets $ 27,221 The aggregate pre-tax amortization expense from continuing operations for definite-lived intangible assets was $389 million for the period September 1 through December 31, 2017 and $139 million for the period January 1 through August 31, 2017 . The aggregate pre-tax amortization expense from continuing operations for definite-lived intangible assets was $319 million and $362 million for 2016 and 2015 , respectively. Total estimated amortization expense for the next five fiscal years is as follows: (In millions) 2018 $ 1,266 2019 $ 1,254 2020 $ 1,244 2021 $ 1,228 2022 $ 1,221 |
Short-Term Borrowings, Long-Ter
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | SHORT-TERM BORROWINGS, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES The following tables summarize the company's short-term borrowings and capital lease obligations and long-term debt: Short-term borrowings and capital lease obligations Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Commercial paper $ 1,436 $ 386 Other loans - various currencies 28 39 Long-term debt payable within one year 1,315 4 Total short-term borrowings and capital lease obligations $ 2,779 $ 429 The estimated fair value of the company's short-term borrowings, including interest rate financial instruments, was determined using Level 2 inputs within the fair value hierarchy, as described in Note 1 and Note 19. Based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, the fair value of the company's short-term borrowings and capital lease obligations was $2,780 million and $430 million at December 31, 2017 and 2016, respectively. The weighted-average interest rate on short-term borrowings outstanding at December 31, 2017 and 2016 was 1.8 percent and 2.2 percent , respectively. The decrease in the interest rate for 2017 was primarily due to lower effective interest on long-term debt payable within one year. Long Term Debt Successor 1 Predecessor December 31, 2017 December 31, 2016 (In millions) Amount Weighted Average Rate Amount Promissory notes and debentures: Final maturity 2018 $ 1,280 1.59 % $ 1,290 Final maturity 2019 521 2.23 % 500 Final maturity 2020 3,070 1.79 % 999 Final maturity 2021 1,580 2.07 % 1,498 Final maturity 2023 and thereafter 3,492 3.32 % 3,188 Other facilities: Term loan due 2019 1,500 2.35 % 500 Other loans 18 4.32 % 22 Foreign currency loans, various rates and maturities 30 2.85 % 29 Medium-term notes, varying maturities through 2043 110 1.22 % 111 Capital lease obligations 5 9 Less: Unamortized debt discount and issuance costs — 35 Less: Long-term debt due within one year 1,315 4 Total $ 10,291 $ 8,107 1. The Successor period includes the reflection of debt at fair value at the date of the Merger. See Note 3 for additional information regarding the Merger. Principal payments of long-term debt for the next five years are as follows: Maturities of Long-Term Debt For Next Five Years 1 (In millions) 2018 $ 1,286 2019 $ 2,005 2020 $ 3,005 2021 $ 1,505 2022 $ 2 1. Excludes unamortized debt step-up premium. The estimated fair value of the company's long-term borrowings, was determined using Level 2 inputs within the fair value hierarchy, as described in Note 1 and Note 19. Based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, the fair value of the company's long-term borrowings, not including long-term debt due within one year, was $10,250 million and $8,460 million at December 31, 2017 and 2016, respectively. Available Committed Credit Facilities The following table summarizes the company's credit facilities: Committed and Available Credit Facilities at December 31, 2017 (Successor) (In millions) Effective Date Committed Credit Credit Available Maturity Date Interest Revolving Credit Facility March 2016 $ 3,000 $ 2,950 May 2019 Floating Rate Term Loan Facility March 2016 4,500 3,000 March 2019 Floating Rate Total Committed and Available Credit Facilities $ 7,500 $ 5,950 Debt Offering In May 2017, the company completed an underwritten public offering of $1,250 million of the company's 2.20 percent Notes due 2020 and $750 million of the company's Floating Rate Notes due 2020 (the "May 2017 Debt Offering"). The proceeds of this offering were used to make a discretionary pension contribution to the company's principal U.S. pension plan. See Note 16 for further discussion regarding this contribution. Term Loan Facility In March 2016, the company entered into a credit agreement that provides for a three -year, senior unsecured term loan facility in the aggregate principal amount of $4,500 million (the "Term Loan Facility") under which DuPont may make up to seven term loan borrowings and amounts repaid or prepaid are not available for subsequent borrowings. The facility was amended in 2017 to extend the date on which the commitment to lend terminates to July 27, 2018. The proceeds from the borrowings under the Term Loan Facility will be used for the company's general corporate purposes including debt repayment, working capital and funding a portion of DowDuPont's costs and expenses. The Term Loan Facility matures in March 2019 at which time all outstanding borrowings, including accrued but unpaid interest, become immediately due and payable. As of December 31, 2017 , the company had made three term loan borrowings in an aggregate principal amount of $1,500 million and had unused commitments of $3,000 million under the Term Loan Facility. Uncommitted Credit Facilities and Outstanding Letters of Credit Unused bank credit lines on uncommitted credit facilities were approximately $731 million at December 31, 2017. These lines are available to support short-term liquidity needs and general corporate purposes including letters of credit. Outstanding letters of credit were $177 million at December 31, 2017. These letters of credit support commitments made in the ordinary course of business. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | COMMITMENTS AND CONTINGENT LIABILITIES Guarantees Indemnifications In connection with acquisitions and divestitures as of December 31, 2017, the company has indemnified respective parties against certain liabilities that may arise in connection with these transactions and business activities prior to the completion of the transactions. The term of these indemnifications, which typically pertain to environmental, tax and product liabilities, is generally indefinite. In addition, the company indemnifies its duly elected or appointed directors and officers to the fullest extent permitted by Delaware law, against liabilities incurred as a result of their activities for the company, such as adverse judgments relating to litigation matters. If the indemnified party were to incur a liability or have a liability increase as a result of a successful claim, pursuant to the terms of the indemnification, the company would be required to reimburse the indemnified party. The maximum amount of potential future payments is generally unlimited. Obligations for Equity Affiliates & Others The company has directly guaranteed various debt obligations under agreements with third parties related to equity affiliates, customers and suppliers. At December 31, 2017 and December 31, 2016 , the company had directly guaranteed $297 million and $388 million , respectively, of such obligations. These amounts represent the maximum potential amount of future (undiscounted) payments that the company could be required to make under the guarantees. The company would be required to perform on these guarantees in the event of default by the guaranteed party. The company assesses the payment/performance risk by assigning default rates based on the duration of the guarantees. These default rates are assigned based on the external credit rating of the counterparty or through internal credit analysis and historical default history for counterparties that do not have published credit ratings. For counterparties without an external rating or available credit history, a cumulative average default rate is used. In certain cases, the company has recourse to assets held as collateral, as well as personal guarantees from customers and suppliers. Assuming liquidation, these assets are estimated to cover approximately 23 percent of the $89 million of guaranteed obligations of customers and suppliers. Set forth below are the company's guaranteed obligations at December 31, 2017 . The following tables provide a summary of the final expiration and maximum future payments for each type of guarantee: Guarantees at December 31, 2017 (Successor) Final Expiration Maximum Future Payments (In millions) Obligations for customers and suppliers 1 : Bank borrowings 2022 $ 89 Obligations for non-consolidated affiliates 2 : Bank borrowings 2018 161 Obligations for Chemours 3 : Chemours' purchase obligations 2018 10 Residual value guarantees 4 2029 37 Total guarantees $ 297 1. Existing guarantees for customers and suppliers, as part of contractual agreements. 2. Existing guarantees for non-consolidated affiliates' liquidity needs in normal operations. 3. Guarantee for Chemours' raw material purchase obligations under agreement with third party supplier. 4. The company provides guarantees related to leased assets specifying the residual value that will be available to the lessor at lease termination through sale of the assets to the lessee or third parties. Operating Leases The company uses various leased facilities and equipment in its operations. The terms for these leased assets vary depending on the lease agreement. Future minimum lease payments (including residual value guarantee amounts) under non-cancelable operating leases are $264 million , $190 million , $137 million , $104 million and $81 million for the years 2018 , 2019 , 2020 , 2021 and 2022 , respectively, and $268 million for subsequent years and are not reduced by non-cancelable minimum sublease rentals due in the future in the amount of $3 million . Net rental expense under operating leases was $105 million , $179 million , $242 million and $266 million for the period September 1 through December 31, 2017, for the period January 1 through August 31, 2017, and for the years ended December 31, 2016 and 2015 , respectively. Litigation The company is subject to various legal proceedings arising out of the normal course of its current and former business operations, including product liability, intellectual property, commercial, environmental and antitrust lawsuits. It is not possible to predict the outcome of these various proceedings. Although considerable uncertainty exists, management does not anticipate that the ultimate disposition of these matters will have a material adverse effect on the company's results of operations, consolidated financial position or liquidity. However, the ultimate liabilities could be material to results of operations in the period recognized. PFOA DuPont used PFOA (collectively, perfluorooctanoic acids and its salts, including the ammonium salt), as a processing aid to manufacture some fluoropolymer resins at various sites around the world including its Washington Works' plant in West Virginia. Pursuant to the Separation Agreement discussed in Note 4, the company is indemnified by Chemours for the PFOA matters discussed below and has recorded a total indemnification asset of $15 million . U.S. Environmental Protection Agency (“EPA") and New Jersey department of Environmental Protection (“NJDEP”) DuPont is obligated under agreements with EPA, including a 2009 consent decree to which Chemours was added in 2017, and has made voluntary commitments to NJDEP. These obligations and voluntary commitments include surveying, sampling and testing drinking water in and around certain company sites and offering treatment or an alternative supply of drinking water if tests indicate the presence of PFOA in drinking water at or greater than the national health advisory level established from time to time by the EPA. At December 31, 2017, the company had an accrual of $15 million related to these obligations and voluntary commitments. The company recorded an indemnification asset corresponding to the accrual balance at December 31, 2017. Leach v. DuPont In August 2001, a class action, captioned Leach v. DuPont, was filed in West Virginia state court alleging that residents living near the Washington Works facility had suffered, or may suffer, deleterious health effects from exposure to PFOA in drinking water. A settlement was reached in 2004 that binds approximately 80,000 residents, (the "Leach Settlement".) In addition to paying $23 million to plaintiff’s attorneys for fees and expenses and $70 million to fund a community health project, the company is obligated to fund up to $235 million for a medical monitoring program for eligible class members and to pay administrative costs and fees associated with the program. In January 2012, the company put $1 million into an escrow account to fund medical monitoring as required by the settlement agreement. As of December 31, 2017 , less than $1 million has been disbursed from the account. The company also must continue to provide water treatment designed to reduce the level of PFOA in water to six area water districts, including the Little Hocking Water Association, and private well users. While it is probable that the company will incur liabilities related to funding the medical monitoring program and providing water treatment, the company does not expect any such liabilities to be material. Under the Leach Settlement, the company funded a series of health studies which were completed in October 2012 by an independent science panel of experts (the "C8 Science Panel".) The C8 Science Panel found probable links, as defined in the Leach Settlement, between exposure to PFOA and pregnancy-induced hypertension, including preeclampsia; kidney cancer; testicular cancer; thyroid disease; ulcerative colitis; and diagnosed high cholesterol. Multi-District Litigation Leach class members may pursue personal injury claims against DuPont only for the six human diseases for which the C8 Science Panel determined a probable link exists. Following the Leach Settlement, approximately 3,550 lawsuits alleging personal injury claims were filed in various federal and state courts in Ohio and West Virginia. These lawsuits are consolidated in multi-district litigation ("MDL") in the U.S. District Court for the Southern District of Ohio. In the first quarter of 2017, the MDL was settled for $670.7 million in cash (the "MDL Settlement"), half of which was to be paid by Chemours and half paid by DuPont. At December 31, 2017 , all payments under the settlement agreement have been made by both companies. DuPont’s payment is not subject to indemnification or reimbursement by Chemours. In exchange for that payment, DuPont and Chemours receive releases of all claims by the settling plaintiffs. The MDL Settlement was entered into solely by way of compromise and settlement and is not in any way an admission of liability or fault by DuPont or Chemours. All of the MDL plaintiffs participated and resolved their claims within the MDL Settlement. New Items At December 31, 2017, five lawsuits had been filed against the company in West Virginia and four in Ohio alleging personal injury from exposure to PFOA in drinking water. In addition, three lawsuits are pending in federal court in New York on behalf of five individuals who are residents of Hoosick Falls, New York. The plaintiffs claim personal injuries, including kidney cancer, thyroid disease and ulcerative colitis, from alleged exposure to PFOA discharged into the air and water from nearby manufacturing facilities owned and operated by defendant third parties. Plaintiffs claim that PFOA used at the facilities was purchased from or manufactured by the company and co-defendant, 3M Company. An action is pending in Alabama state court filed by a municipal water utility. The plaintiff alleges contamination from wastewater from defendant carpet manufacturers’ operations using perfluorinated chemicals and compounds, including PFOA, (“PFCs”). Plaintiff alleges that the PFCs used in defendant manufacturers’ operations were supplied by the company and co-defendant 3M Company. While it is reasonably possible that the company could incur liabilities related to these actions, it does not expect any such liabilities would be material. Chemours is defending and indemnifying the company in these matters in accordance with the amendment to the Separation Agreement discussed below. Amendment to Separation Agreement Concurrent with the MDL Settlement, DuPont and Chemours amended the Separation Agreement to provide for a limited sharing of potential future PFOA liabilities (i.e., indemnifiable losses, as defined in the Separation Agreement) for a period of five years beginning July 6, 2017. During that five -year period, Chemours will annually pay future PFOA liabilities up to $25 million and, if such amount is exceeded, DuPont would pay any excess amount up to the next $25 million (which payment will not be subject to indemnification by Chemours), with Chemours annually bearing any further excess liabilities. After the five -year period, this limited sharing agreement will expire, and Chemours’ indemnification obligations under the Separation Agreement will continue unchanged. There have been no charges incurred by DuPont under this arrangement through December 31, 2017. Chemours has also agreed that it will not contest its liability to DuPont under the Separation Agreement for PFOA liabilities on the basis of ostensible defenses generally applicable to the indemnification provisions under the Separation Agreement, including defenses relating to punitive damages, fines or penalties or attorneys’ fees, and waives any such defenses with respect to PFOA liabilities. Chemours has, however, retained defenses as to whether any particular PFOA claim is within the scope of the indemnification provisions of the Separation Agreement. It is possible that new lawsuits could be filed against DuPont related to PFOA that may not be within the scope of the MDL Settlement. Any such new litigation would be subject to indemnification by Chemours under the Separation Agreement, as amended. Fayetteville Works Facility, North Carolina Prior to the separation of Chemours, the company introduced GenX as a polymerization processing aid and a replacement for PFOA at the Fayetteville Works facility. The facility is now owned and operated by Chemours which continues to manufacture and use GenX. Chemours is responding to ongoing inquiries and investigations from federal, state and local investigators, regulators and other governmental authorities as well as inquiries from the media and local community stakeholders. These inquiries and investigations involve the discharge of GenX and certain similar compounds from the Chemours’ facility at Fayetteville Works into the Cape Fear River in Bladen County, North Carolina. In August 2017, the U.S. Attorney’s Office for the Eastern District of North Carolina served the company with a subpoena for testimony and the production of documents to a grand jury. In the fourth quarter 2017, DuPont was served with additional subpoenas relating to the same issue. The subpoenas seek documents and testimony related to alleged discharges of PFOA and/or GenX from the Fayetteville Works facility into the Cape Fear River. It is possible that these ongoing inquiries and investigations, including the grand jury subpoena, could result in penalties or sanctions, or that additional litigation will be instituted against Chemours and/or the company. At December 31, 2017, several actions, filed on behalf of putative classes of property owners and residents in areas near or who draw drinking water from the Cape Fear River, are pending in federal court against Chemours, the company and one also names DowDuPont. These actions relate to the alleged discharge of certain perflourinated chemicals into the river from the operations and wastewater treatment at the Fayetteville Works facility. The three purported class actions, filed in the fourth quarter 2017 and now consolidated into a single purported class action, seek various relief including medical monitoring, property damages and injunctive relief. Separate actions pending at December 31, 2017 were filed by the Cape Fear Public Utility Authority and Brunswick County, NC seeking actual and punitive damages as well as injunctive relief. These actions have since been consolidated and two additional North Carolina water authorities have joined the action. Management believes the probability of loss with respect to these actions is remote. The company has an indemnification claim against Chemours with respect to current and future inquiries and claims, including lawsuits, related to the foregoing. At December 31, 2017, Chemours is defending and indemnifying the company in the pending civil actions. Environmental Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated based on current law and existing technologies. At December 31, 2017 , the company had accrued obligations of $433 million for probable environmental remediation and restoration costs, including $67 million for the remediation of Superfund sites. These obligations are included in "Accrued and other current liabilities" and "Other noncurrent obligations" in the Consolidated Balance Sheets. This is management’s best estimate of the costs for remediation and restoration with respect to environmental matters for which the company has accrued liabilities, although it is reasonably possible that the ultimate cost with respect to these particular matters could range up to $920 million above the amount accrued at December 31, 2017 . Consequently, it is reasonably possible that environmental remediation and restoration costs in excess of amounts accrued could have a material impact on the company’s results of operations, financial condition and cash flows. It is the opinion of the company’s management, however, that the possibility is remote that costs in excess of the range disclosed will have a material impact on the company’s results of operations, financial condition or cash flows. Inherent uncertainties exist in these estimates primarily due to unknown conditions, changing governmental regulations and legal standards regarding liability, and emerging remediation technologies for handling site remediation and restoration. At December 31, 2016, the company had accrued obligations of $457 million for probable environmental remediation and restoration costs, including $50 million for the remediation of Superfund sites. Pursuant to the DuPont and Chemours Separation Agreement, the company is indemnified by Chemours for certain environmental matters, included in the liability of $433 million , that have an estimated liability of $242 million as of December 31, 2017 , and a potential exposure that ranges up to approximately $430 million above the amount accrued. As such, the company has recorded an indemnification asset of $242 million corresponding to the company’s accrual balance related to these matters at December 31, 2017 , including $47 million related to the Superfund sites. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | STOCKHOLDERS' EQUITY Share Repurchase Program 2015 Share Buyback Plan In the first quarter 2015, DuPont announced its intention to buy back shares of about $4,000 million using the distribution proceeds received from Chemours. In connection with the completion of the spin-off of Chemours, the Board of Directors authorized the use of the distribution proceeds to buy back shares of the company's common stock as follows: $2,000 million to be purchased and retired by December 31, 2015, which was completed during 2015, with the remainder to be purchased and retired by December 31, 2016. There were no share repurchases under this plan in the first and second quarters of 2016. The company had limited opportunity to repurchase shares in 2016, primarily due to the planned merger with Dow. However, during the second half of 2016, the company purchased and retired 13.2 million shares in the open market for a total cost of $916 million . As of December 31, 2016, in aggregate, the company paid $2,916 million and received and retired 48.2 million shares. The authorization under this buyback program expired as of January 1, 2017. 2014 Share Buyback Plan In January 2014, the company's Board of Directors authorized a $5,000 million share buyback plan that replaced the 2011 plan. During 2015, the company repurchased and retired 4.6 million shares in the open market for a total cost of $353 million . There were no share repurchases under this plan during 2016 and 2017. The authorization under this buyback program expired upon Merger. As of August 31, 2017, in aggregate, the company purchased 34.7 million shares at a total cost of $2,353 million under the plan. Treasury Stock Immediately prior to the closing of the Merger Transaction, all 87 million shares of DuPont common stock that were held in treasury were automatically canceled and retired for no consideration. Common stock held in treasury was recorded at cost. When retired, the excess of the cost of treasury stock over its par value was allocated between retained earnings ( $5,657 million ) and additional paid-in capital ( $1,044 million ). Set forth below is a reconciliation of common stock share activity for the years ended December 31, 2017 , 2016 and 2015 : Shares of common stock Issued Held In Treasury Balance January 1, 2015 (Predecessor) 992,020,000 (87,041,000 ) Issued 5,932,000 — Repurchased — (39,564,000 ) Retired (39,564,000 ) 39,564,000 Balance December 31, 2015 (Predecessor) 958,388,000 (87,041,000 ) Issued 4,808,000 — Repurchased — (13,152,000 ) Retired (13,152,000 ) 13,152,000 Balance December 31, 2016 (Predecessor) 950,044,000 (87,041,000 ) Issued 5,335,000 — Retired (87,041,000 ) 87,041,000 Balance August 31, 2017 (Predecessor) 868,338,000 — Balance September 1 and December 31, 2017 (Successor) 1 100 — 1. All of the company's issued and outstanding common stock at September 1, 2017 is held by the DowDuPont Inc. Other Comprehensive Income (Loss) The changes and after-tax balances of components comprising accumulated other comprehensive loss are summarized below: (In millions) Cumulative Translation Adjustment 1 Derivative Instruments Pension Benefit Plans 2 Other Benefit Plans Unrealized Gain (Loss) on Investments Total 2015 Balance January 1, 2015 (Predecessor) $ (919 ) $ (6 ) $ (7,895 ) $ 262 $ 2 $ (8,556 ) Other comprehensive (loss) income before reclassifications (1,605 ) (25 ) 39 3 (17 ) (1,605 ) Amounts reclassified from accumulated other comprehensive income (loss) — 7 535 (243 ) (2 ) 297 Net other comprehensive (loss) income (1,605 ) (18 ) 574 (240 ) (19 ) (1,308 ) Spin-off of Chemours $ 191 $ — $ 278 $ — $ (1 ) $ 468 Balance December 31, 2015 (Predecessor) $ (2,333 ) $ (24 ) $ (7,043 ) $ 22 $ (18 ) $ (9,396 ) 2016 Other comprehensive (loss) income before reclassifications (510 ) 20 (271 ) (81 ) (8 ) (850 ) Amounts reclassified from accumulated other comprehensive income (loss) — 11 594 (298 ) 28 335 Net other comprehensive (loss) income (510 ) 31 323 (379 ) 20 (515 ) Balance December 31, 2016 (Predecessor) $ (2,843 ) $ 7 $ (6,720 ) $ (357 ) $ 2 $ (9,911 ) 2017 Other comprehensive income (loss) before reclassifications 1,042 3 (78 ) — 1 968 Amounts reclassified from accumulated other comprehensive income (loss) — (13 ) 325 10 (1 ) 321 Net other comprehensive income (loss) 1,042 (10 ) 247 10 — 1,289 Balance August 31, 2017 (Predecessor) $ (1,801 ) $ (3 ) $ (6,473 ) $ (347 ) $ 2 $ (8,622 ) Balance September 1, 2017 (Successor) 3 $ — $ — $ — $ — $ — $ — Other comprehensive income (loss) before reclassifications (454 ) (2 ) 128 (53 ) — (381 ) Amounts reclassified from accumulated other comprehensive income (loss) — — — — — — Net other comprehensive (loss) income (454 ) (2 ) 128 (53 ) — (381 ) Balance December 31, 2017 (Successor) $ (454 ) $ (2 ) $ 128 $ (53 ) $ — $ (381 ) 1. The cumulative translation adjustment loss for the period September 1 through December 31, 2017 is primarily driven by the strengthening of the U.S dollar (USD) against the European Euro (EUR) and the Brazilian real (BRL). The cumulative translation adjustment gain for the period January 1 through August 31, 2017 is primarily driven by the weakening of the USD against the EUR. The currency translation loss for the year ended December 31, 2016 is primarily driven by the strengthening of the USD against the EUR partially offset by the weakening of the USD against the BRL. The currency translation loss for the year ended December 31, 2015 is driven by the strengthening USD against primarily the EUR and BRL. 2. The Pension Benefit Plans loss recognized in other comprehensive (loss) income during the year ended December 31, 2016 includes the impact of the remeasurement of the principal U.S. pension plan as of June 30, 2016. See Note 16 for additional information. 3. In connection with the Merger, balances in accumulated other comprehensive loss at Merger Effectiveness Time were eliminated as a result of reflecting the balance sheet at fair value as of the date of the Merger. See Note 3 and 16 for further information regarding the Merger and pension and OPEB plans, respectively. The tax (expense) benefit on the net activity related to each component of other comprehensive income (loss) were as follows: Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Derivative instruments $ 1 $ 6 $ (19 ) $ 7 Pension benefit plans - net (37 ) (145 ) (163 ) (317 ) Other benefit plans - net 15 (5 ) 194 135 (Provision for) benefit from income taxes related to other comprehensive income (loss) items $ (21 ) $ (144 ) $ 12 $ (175 ) A summary of the reclassifications out of accumulated other comprehensive loss is provided as follows: Successor Predecessor Income Classification (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Derivative Instruments: $ — $ (21 ) $ 18 $ 12 (1) Tax expense (benefit) — 8 (7 ) (5 ) (2) After-tax $ — $ (13 ) $ 11 $ 7 Amortization of pension benefit plans: Prior service benefit — (3 ) (6 ) (9 ) (3) Actuarial losses — 506 822 768 (3) Curtailment gain (loss) — — 40 (6 ) (3) Settlement loss — — 62 76 (3) Total before tax $ — $ 503 $ 918 $ 829 Tax benefit — (178 ) (324 ) (294 ) (2) After-tax $ — $ 325 $ 594 $ 535 Amortization of other benefit plans: Prior service benefit — (46 ) (134 ) (182 ) (3) Actuarial losses — 61 78 78 (3) Curtailment gain — — (392 ) (274 ) (3) Total before tax $ — $ 15 $ (448 ) $ (378 ) Tax (benefit) expense — (5 ) 150 135 (2) After-tax $ — $ 10 $ (298 ) $ (243 ) Net realized (losses) gains on investments, before tax: — (1 ) 28 (2 ) (4) Tax expense — — — — (2) After-tax $ — $ (1 ) $ 28 $ (2 ) Total reclassifications for the period, after-tax $ — $ 321 $ 335 $ 297 1. Cost of goods sold. 2. Provision for income taxes from continuing operations. 3. These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost of the company's pension and other benefit plans. See Note 16 for additional information. 4. Sundry income - net. The tax benefit (expense) recorded in Stockholders' Equity was $33 million and $(138) million for the years ended December 31, 2016 and 2015, respectively. Included in these amounts were tax benefits of $21 million and $37 million for the years ended December 31, 2016 and 2015, respectively, associated with stock compensation programs. The remainder consists of amounts recorded within other comprehensive loss as shown in the table above. |
Pension Plans and Other Post Em
Pension Plans and Other Post Employment Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | PENSION PLANS AND OTHER POST EMPLOYMENT BENEFITS The company offers various long-term benefits to its employees. Where permitted by applicable law, the company reserves the right to change, modify or discontinue the plans. As a result of the Merger, the company re-measured its pension and OPEB plans. The remeasurement of the company’s pension and OPEB plans are included in the fair value measurement of DuPont’s assets and liabilities as a result of the application of purchase accounting in connection with the Merger. In addition, net losses and prior service benefits recognized in accumulated other comprehensive loss were eliminated. Dow and DuPont did not merge their pension plans and other post employment benefit plans as a result of the Merger. See Note 3 for details on the Merger. Defined Benefit Pension Plans The company has both funded and unfunded noncontributory defined benefit pension plans covering a majority of the U.S. employees and a number of other countries. The principal U.S. pension plan is the largest pension plan held by DuPont. Most employees hired on or after January 1, 2007 are not eligible to participate in the U.S. defined benefit pension plans. The benefits under these plans are based primarily on years of service and employees' pay near retirement. In November 2016, the company announced that it will freeze the pay and service amounts used to calculate pension benefits for active employees who participate in the U.S. pension plans on November 30, 2018. Therefore, as of November 30, 2018, active employees participating in the U.S. pension plans will not accrue additional benefits for future service and eligible compensation received. These changes resulted in a $527 million decline in the projected benefit obligation, which is reflected in actuarial loss (gain) in the change in projected benefit obligations table on page F-60, and recognition of a $25 million pre-tax curtailment gain during the fourth quarter of 2016. The decline in the projected benefit obligation is primarily due to the decrease in expected future compensation. The company's funding policy is consistent with the funding requirements of federal laws and regulations. Pension coverage for employees of the company's non-U.S. consolidated subsidiaries is provided, to the extent deemed appropriate, through separate plans. Obligations under such plans are funded by depositing funds with trustees, covered by insurance contracts, or remain unfunded. The company did not make any contributions to its principal U.S. pension plan for the period September 1 through December 31, 2017. During the period January 1 through August 31, 2017 , the company made total contributions of $2,900 million to its principal U.S. pension plan funded through the May 2017 Debt Offering; short-term borrowings, including commercial paper issuance; and cash flow from operations. See Note 13 for further discussion related to the May 2017 Debt Offering. The company contributed $230 million to the principal U.S. pension plan in 2016. No contributions were made to its principal U.S. pension plan in 2015. The company does not expect to make cash contributions to this plan in 2018. The company made total contributions of $34 million , $67 million , $121 million and $164 million to its funded pension plans other than the principal U.S. pension plan for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017 and the years ended December 31, 2016 and 2015, respectively. Additionally, the company made total contributions of $34 million , $57 million , $184 million and $144 million to its remaining plans with no plan assets for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017 and the years ended December 31, 2016 and 2015, respectively. DuPont expects to contribute approximately $200 million to its funded pension plans other than the principal U.S. pension plan and its remaining plans with no plan assets in 2018. The company’s remeasurement of its pension plans at the Merger Effectiveness Time resulted in an increase in the underfunded status of $560 million . In connection with the remeasurement, the company updated the weighted average discount rate to 3.42 percent at August 31, 2017 from 3.80 percent as of December 31, 2016. The workforce reductions in 2016 related to a 2016 global cost savings and restructuring plan triggered curtailments for certain of the company's pension plans, including the principal U.S. pension plan. For the principal U.S. pension plan, the company recorded curtailment losses of $63 million during the year ended December 31, 2016. The curtailment losses were driven by the changes in the benefit obligation based on the demographics of the terminated positions partially offset by accelerated recognition of a portion of the prior service benefit. In the fourth quarter 2016, about $550 million of lump-sum payments were made from the principal U.S. pension plan trust fund to a group of separated, vested plan participants who were extended a limited-time opportunity and voluntarily elected to receive their pension benefits in a single lump-sum payment. In the fourth quarter 2017, about $140 million of lump-sum payments were made from the principal U.S. pension plan trust fund under a similar program. Since the company recognizes pension settlements only when the lump-sum payments exceed the sum of the plan's service and interest cost components of net periodic pension cost for the year, these lump-sum payments did not result in the recognition of a pension settlement charge. The weighted-average assumptions used to determine pension plan obligations for all pension plans are summarized in the table below: Weighted-Average Assumptions used to Determine Benefit Obligations Successor Predecessor December 31, 2017 December 31, 2016 Discount rate 3.37 % 3.80 % Rate of increase in future compensation levels 1 4.04 % 3.80 % 1. The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant's entire career at the company. The weighted-average assumptions used to determine net periodic benefit costs for all pension plans are summarized in the two tables below: Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Discount rate 3.42 % 3.80 % 3.77 % 3.93 % Rate of increase in future compensation levels 3.80 % 3.80 % 3.96 % 4.01 % Expected long-term rate of return on plan assets 6.24 % 7.66 % 7.74 % 8.10 % The weighted-average assumptions used to determine net periodic benefit costs for U.S. plans are summarized in the table below: Weighted- Average Assumptions used to Determine Net Periodic Benefit Cost Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Discount rate 3.73 % 4.16 % 4.04 % 4.29 % Rate of increase in future compensation levels 3.95 % 3.95 % 4.15 % 4.20 % Expected long-term rate of return on plan assets 6.25 % 8.00 % 8.00 % 8.50 % Other Post Employment Benefits The company provides medical, dental and life insurance benefits to certain pensioners and survivors. The associated plans for retiree benefits are unfunded and the cost of the approved claims is paid from company funds. Essentially all of the cost and liabilities for these retiree benefit plans are attributable to the U.S. benefit plans. The non-Medicare eligible retiree medical plan is contributory with pensioners and survivors' contributions adjusted annually to achieve a 50/50 target for sharing of cost increases between the company and pensioners and survivors. In addition, limits are applied to DuPont's portion of the retiree medical cost coverage. For Medicare eligible pensioners and survivors, DuPont provides a company-funded Health Reimbursement Arrangement (HRA). In November 2016, the company announced that eligible employees who will be under the age of 50 as of November 30, 2018 will not receive post-retirement medical, dental and life insurance benefits. As a result of these changes, the company recognized a pre-tax curtailment gain of $357 million during the fourth quarter of 2016. Beginning January 1, 2015, eligible employees who retire on and after that date will receive the same life insurance benefit payment, regardless of employee's age or pay. The majority of U.S. employees hired on or after January 1, 2007 are not eligible to participate in the post-retirement medical, dental and life insurance plans. The company also provides disability benefits to employees. Employee disability benefit plans are insured in many countries. However, primarily in the U.S., such plans are generally self-insured. Obligations and expenses for self-insured plans are reflected in the change in projected benefit obligations table on page F-60. The company’s remeasurement of its OPEB plans at the Merger Effectiveness Time resulted in an increase in the benefit obligation of $41 million . In connection with the remeasurement, the company lowered the weighted average discount rate to 3.62 percent as of August 31, 2017 from 4.03 percent as of December 31, 2016. As a result of the workforce reductions related to a 2016 global cost savings and restructuring plan, a curtailment was triggered for the company's other post employment benefit plans. The company recorded curtailment gains of $35 million during the year ended December 31, 2016. The curtailment gains were driven by accelerated recognition of a portion of the prior service benefit partially offset by the change in the benefit obligation based on the demographics of the terminated positions. The company's OPEB plans are unfunded and the cost of the approved claims is paid from operating cash flows. Pre-tax cash requirements to cover actual net claims costs and related administrative expenses were $59 million , $166 million , $218 million , and $237 million for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017 and for the years ended December 31, 2016 and 2015, respectively. Changes in cash requirements reflect the net impact of higher per capita health care costs, demographic changes, plan amendments and changes in participant premiums, co-pays and deductibles. In 2018, the company expects to contribute about $250 million for its OPEB plans. The weighted-average assumptions used to determine benefit obligations for OPEB plans are summarized in the table below: Weighted-Average Assumptions used to Determine Benefit Obligations Successor Predecessor December 31, 2017 December 31, 2016 Discount rate 3.56 % 4.03 % The weighted-average assumptions used to determine net periodic benefit costs for the OPEB plans are summarized in the two tables below: Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Discount rate 3.62 % 4.03 % 3.87 % 4.13 % Assumed Health Care Cost Trend Rates Successor Predecessor December 31, 2017 December 31, 2016 Health care cost trend rate assumed for next year 6.40 % 7.00 % Rate to which the cost trend rate is assumed to decline (the ultimate health care trend rate) 5.00 % 5.00 % Year that the rate reached the ultimate health care cost trend rate 2023 2023 Assumed health care cost trend rates have a modest effect on the amounts reported for the health care plans. A one percentage point change in assumed health care cost trend rates would have an immaterial impact on service and interest cost and the postretirement benefit obligation. Assumptions Within the U.S., the company determines the expected long-term rate of return on plan assets by performing a detailed analysis of key economic and market factors driving historical returns for each asset class and formulating a projected return based on factors in the current environment. Factors considered include, but are not limited to, inflation, real economic growth, interest rate yield, interest rate spreads, and other valuation measures and market metrics. The expected long-term rate of return for each asset class is then weighted based on the strategic asset allocation approved by the governing body for each plan. The company's historical experience with the pension fund asset performance is also considered. For non-U.S. plans, assumptions reflect economic assumptions applicable to each country. Effective 2016, DuPont elected to adopt a spot rate approach to determine the discount rate utilized to measure the service cost and interest cost components of net periodic pension and other post employment benefit costs for its U.S. plans. Under the spot rate approach, the company calculates service costs and interest costs by applying individual spot rates from a yield curve (based on high-quality corporate bond yields) to the separate expected cash flows components of service cost and interest cost. Service cost and interest cost for all other plans are determined on the basis of the single equivalent discount rates derived in determining those plan obligations. The company changed to the new method to provide a more precise measure of interest and service costs for certain plans by improving the correlation between projected benefit cash flows and the discrete spot yield curves. The company has accounted for this change as a change in accounting estimate and it was applied prospectively starting in 2016. For non-U.S. benefit plans, the company utilizes prevailing long-term high quality corporate bond indices to determine the discount rate applicable to each country at the measurement date. The discount rates utilized to measure the pension and other post employment obligations are based on the yield on high-quality corporate fixed income investments at the measurement date. Future expected actuarially determined cash flows are individually discounted at the spot rates under Aon Hewitt AA_Above Median yield curve (based on high-quality corporate bond yields) to arrive at the plan’s obligations as of the measurement date. For non-U.S. benefit plans, the company utilizes prevailing long-term high quality corporate bond indices to determine the discount rate applicable to each country at the measurement date. In October 2014, the U.S. Society of Actuaries ("SOA") released final reports of new mortality tables and a mortality improvement scale for measurement of retirement program obligations in the U.S. The SOA publishes updated mortality improvement scales on an annual basis. The company has adopted the 2016 and 2017 SOA mortality improvement scale in measuring its U.S. pension and other postretirement obligations for the years ended December 31, 2016 and 2017, respectively. The effect of these adoptions is amortized into net periodic benefit cost for the years following the adoption. Summarized information on the company's pension and other post employment benefit plans is as follows: Change in Projected Benefit Obligations, Plan Assets and Funded Status Defined Benefit Pension Plans Other Post Employment Benefits Successor Predecessor Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 1 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Period September 1 through December 31, 2017 1 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 Change in benefit obligations: Benefit obligation at beginning of the period $ 26,036 $ 24,831 $ 26,094 $ 2,772 $ 2,829 $ 2,758 Service cost 49 92 174 3 6 11 Interest cost 247 524 800 26 60 87 Plan participants' contributions 6 8 18 12 26 36 Actuarial (gain) loss (23 ) — 460 68 — 153 Benefits paid 2 (730 ) (1,118 ) (2,374 ) (71 ) (192 ) (254 ) Plan amendments — — — — — (28 ) Net effects of acquisitions / divestitures / other 22 — 7 — — 65 Effect of foreign exchange rates (57 ) 429 (348 ) — 2 1 Benefit obligations at end of the period $ 25,550 $ 24,766 $ 24,831 $ 2,810 $ 2,731 $ 2,829 Change in plan assets: Fair value of plan assets at beginning of the period $ 20,395 $ 16,656 $ 17,497 $ — $ — $ — Actual return on plan assets 549 846 1,219 — — — Employer contributions 68 3,024 535 59 166 218 Plan participants' contributions 6 8 18 12 26 36 Benefits paid 2 (730 ) (1,118 ) (2,374 ) (71 ) (192 ) (254 ) Net effects of acquisitions / divestitures / other 29 — — — — — Effect of foreign exchange rates (33 ) 269 (239 ) — — — Fair value of plan assets at end of the period $ 20,284 $ 19,685 $ 16,656 $ — $ — $ — Funded status U.S. plan with plan assets $ (3,628 ) $ (3,277 ) $ (6,391 ) $ — $ — $ — Non-U.S. plans with plan assets (447 ) (609 ) (674 ) — — — All other plans 3, 4 (1,191 ) (1,187 ) (1,102 ) (2,810 ) (2,731 ) (2,829 ) Plans of discontinued operations — (8 ) (8 ) — — — Funded status at end of the period $ (5,266 ) $ (5,081 ) $ (8,175 ) $ (2,810 ) $ (2,731 ) $ (2,829 ) 1. The benefit obligation and the fair value of plan assets at the beginning of the period September 1 through December 31, 2017, reflects the remeasurement of the plans at the Merger Effectiveness Time. 2. In the fourth quarter of 2016, about $550 million of lump-sum payments were made from the principal U.S. pension plan trust fund to a group of separated, vested plan participants who were extended a limited-time opportunity and voluntarily elected to receive their pension benefits in a single lump-sum payment. In the fourth quarter of 2017, about $140 million of lump-sum payments were made from the principal U.S. pension plan trust fund under a similar program. 3. As of December 31, 2017, $389 million of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below. 4. Includes pension plans maintained around the world where funding is not customary. Defined Benefit Pension Plans Other Post Employment Benefits (In millions) Successor Predecessor Successor Predecessor December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Amounts recognized in the Consolidated Balance Sheets: Other Assets $ 47 $ 3 $ — $ — Accrued and other current liabilities (86 ) (78 ) (250 ) (275 ) Liabilities held for sale - current — (8 ) — — Pension and other post employment benefits - noncurrent 1 (5,227 ) (2,560 ) Other noncurrent obligations 1 — (8,092 ) — (2,554 ) Net amount recognized $ (5,266 ) $ (8,175 ) $ (2,810 ) $ (2,829 ) Pretax amounts recognized in accumulated other comprehensive (income) loss: Net (gain) loss $ (165 ) $ 10,280 $ 68 $ 830 Prior service benefit — (17 ) — (281 ) Pretax balance in accumulated other comprehensive (income) loss at end of year $ (165 ) $ 10,263 $ 68 $ 549 1. In the Successor Period, non-current pension and OPEB liabilities are included within pension and other post employment benefits - noncurrent in the Consolidated Balance Sheets. In the Predecessor period, these liabilities are included within other noncurrent obligations. The accumulated benefit obligation for all pensions plans was $25.1 billion and $24.3 billion at December 31, 2017 and 2016, respectively. Pension Plans with Projected Benefit Obligations in Excess of Plan Assets Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Projected benefit obligations $ 25,254 $ 24,779 Accumulated benefit obligations 24,864 24,297 Fair value of plan assets 19,941 16,601 Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Projected benefit obligations $ 24,625 $ 23,946 Accumulated benefit obligations 24,315 23,591 Fair value of plan assets 19,335 15,838 Defined Benefit Pension Plans Other Post Employment Benefits (In millions) Successor Predecessor Successor Predecessor Components of net periodic benefit cost (credit) and amounts recognized in other comprehensive loss For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Net Periodic Benefit Cost: Service cost $ 49 $ 92 $ 174 $ 232 $ 3 $ 6 $ 11 $ 15 Interest cost 247 524 800 1,084 26 60 87 112 Expected return on plan assets (407 ) (824 ) (1,320 ) (1,554 ) — — — — Amortization of unrecognized loss — 506 822 768 — 61 78 78 Amortization of prior service benefit — (3 ) (6 ) (9 ) — (46 ) (134 ) (182 ) Curtailment loss (gain) — — 40 (6 ) — — (392 ) (274 ) Settlement loss — — 62 76 — — — — Net periodic (credit) benefit cost - Total $ (111 ) $ 295 $ 572 $ 591 $ 29 $ 81 $ (350 ) $ (251 ) Less: Discontinued operations 1 3 — — — — — (272 ) Net periodic (credit) benefit cost - Continuing operations $ (112 ) $ 292 $ 572 $ 591 $ 29 $ 81 $ (350 ) $ 21 Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss: Net (gain) loss $ (165 ) $ (22 ) $ 570 $ 57 $ 68 $ — $ 153 $ (4 ) Amortization of unrecognized loss — (506 ) (822 ) (768 ) — (61 ) (78 ) (78 ) Prior service benefit — — — — — — (28 ) — Amortization of prior service benefit — 3 6 9 — 46 134 182 Curtailment (loss) gain — — (40 ) 6 — — 392 274 Settlement loss — — (62 ) (76 ) — — — — Effect of foreign exchange rates — 133 (138 ) (119 ) — — — 1 Spin-off of Chemours — — — (382 ) — — — — Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont $ (165 ) $ (392 ) $ (486 ) $ (1,273 ) $ 68 $ (15 ) $ 573 $ 375 Total recognized in net periodic benefit cost and other comprehensive (income) loss $ (276 ) $ (97 ) $ 86 $ (682 ) $ 97 $ 66 $ 223 $ 124 The estimated pretax net gain for the defined benefit pensions plans that will be amortized from accumulated other comprehensive (income) loss into net periodic benefit cost during 2018 is $1 million . Estimated Future Benefit Payments The estimated future benefit payments, reflecting expected future service, as appropriate, are presented in the following table: Estimated Future Benefit Payments at December 31, 2017 (Successor) Defined Benefit Pension Plans Other Post Employment Benefits (In millions) 2018 $ 1,636 $ 250 2019 1,614 243 2020 1,600 236 2021 1,587 227 2022 1,568 218 Years 2023-2027 7,533 906 Total 15,538 2,080 Plan Assets All pension plan assets in the U.S. are invested through a single master trust fund. The strategic asset allocation for this trust fund is approved by management. The general principles guiding U.S. pension asset investment policies are those embodied in the Employee Retirement Income Security Act of 1974 (ERISA). These principles include discharging DuPont's investment responsibilities for the exclusive benefit of plan participants and in accordance with the "prudent expert" standard and other ERISA rules and regulations. DuPont establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. Strategic asset allocations in other countries are selected in accordance with the laws and practices of those countries. Where appropriate, asset liability studies are utilized in this process. U.S. plan assets and a portion of non-U.S. plan assets are managed by investment professionals employed by DuPont. The remaining assets are managed by professional investment firms unrelated to the company. DuPont's pension investment professionals have discretion to manage the assets within established asset allocation ranges approved by management of the company. Additionally, pension trust funds are permitted to enter into certain contractual arrangements generally described as "derivatives". Derivatives are primarily used to reduce specific market risks, hedge currency and adjust portfolio duration and asset allocation in a cost-effective manner. In connection with pension contributions of $2,900 million to its principal U.S. pension plan during the period of January 1, 2017 through August 31, 2017, an investment policy study was completed for the principal U.S. pension plan. The study resulted in new target asset allocations being approved for the U.S. pension plan with resulting changes to the expected return on plan assets. The long-term rate of return on assets decreased from 8 percent to 6.25 percent . The weighted-average target allocation for plan assets of the company's pension plans is summarized as follows: Target Allocation for Plan Assets Successor Predecessor Asset Category December 31, 2017 December 31, 2016 U.S. equity securities 17 % 27 % Non-U.S. equity securities 18 24 Fixed income securities 50 33 Hedge funds 2 2 Private market securities 8 8 Real estate 3 4 Cash and cash equivalents 2 2 Total 100 % 100 % Global equity securities include varying market capitalization levels. U.S. equity investments are primarily large-cap companies. Global fixed income investments include corporate-issued, government-issued and asset-backed securities. Corporate debt investments include a range of credit risk and industry diversification. U.S. fixed income investments are weighted heavier than non-U.S. fixed income securities. Other investments include cash and cash equivalents, hedge funds, real estate and private market securities such as interests in private equity and venture capital partnerships. Fair value calculations may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. For pension plan assets classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs. For pension or other post employment benefit plan assets classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks. For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates, commodity prices, swap rates, interest rates and implied volatilities obtained from various market sources. For pension plan assets classified as Level 3 measurements, total fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity for the investment. Investment managers or fund managers provide valuations of the investment on a monthly or quarterly basis. These valuations are reviewed for reasonableness based on applicable sector, benchmark and company performance. Adjustments to valuations are made where appropriate. Where available, audited financial statements are obtained and reviewed for the investments as support for the manager’s investment valuation. The tables below present the fair values of the company's pension assets by level within the fair value hierarchy, as described in Note 1 : Basis of Fair Value Measurements For the year ended December 31, 2017 (Successor) (In millions) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 3,057 $ 3,057 $ — $ — U.S. equity securities 1 4,043 4,012 14 17 Non-U.S. equity securities 3,064 2,866 195 3 Debt – government-issued 3,263 497 2,766 — Debt – corporate-issued 3,181 270 2,884 27 Debt – asset-backed 706 17 687 2 Hedge funds 85 — 83 2 Private market securities 14 — — 14 Real estate 342 239 7 96 Derivatives – asset position 24 3 21 — Derivatives – liability position (16 ) — (16 ) — Other 2 — 2 — Subtotal $ 17,765 $ 10,961 $ 6,643 $ 161 Investments measured at net asset value Hedge funds 747 Private market securities 1,383 Real estate funds 437 Total investments measured at net asset value $ 2,567 Other items to reconcile to fair value of plan assets Pension trust receivables 2 127 Pension trust payables 3 (175 ) Total $ 20,284 1. The DuPont pension plans directly held $910 million ( 4 percent of total plan assets) of DowDuPont common stock at December 31, 2017. 2. Primarily receivables for investments securities sold. 3. Primarily payables for investment securities purchased Basis of Fair Value Measurements For the year ended December 31, 2016 (Predecessor) (In millions) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,505 $ 1,480 $ 25 $ — U.S. equity securities 1 4,071 4,033 20 18 Non-U.S. equity securities 3,278 3,126 151 1 Debt – government-issued 2,067 864 1,203 — Debt – corporate-issued 2,475 273 2,163 39 Debt – asset-backed 721 39 682 — Hedge funds 1 — 1 — Private market securities 67 — 25 42 Real estate 275 175 2 98 Derivatives – asset position 53 7 46 — Derivatives – liability position (47 ) — (47 ) — Other 4 — 4 — Subtotal $ 14,470 $ 9,997 $ 4,275 $ 198 Investments measured at net asset value Hedge funds 434 Private market securities 1,416 Real estate funds 444 Total investments measured at net asset value $ 2,294 Other items to reconcile to fair value of plan assets Pension trust receivables 2 264 Pension trust payables 3 (372 ) Total $ 16,656 1. The DuPont pension plans directly held $732 million ( 4 percent of total plan assets) of DuPont common stock at December 31, 2016. 2. Primarily receivables for investments securities sold. 3. Primarily payables for investment securities purchased. The following table summarizes the changes in fair value of Level 3 pension plan assets for the year ended December 31, 2016 and for the periods January 1 through August 31, 2017 and September 1 through December 31, 2017: Fair Value Measurement of Level 3 Pension Plan Assets U.S. equity securities Non-U.S. equity securities Debt – corporate-issued Debt- asset- backed Hedge funds Private market securities Real estate Total (In millions) Predecessor Balance at January 1, 2016 $ 20 $ 2 $ 34 $ 1 $ — $ 37 $ 144 $ 238 Actual return on assets: Relating to assets sold during the year ended December 31, 2016 (3 ) — (25 ) — — — — (28 ) Relating to assets held at December 31, 2016 1 (1 ) 27 — — 2 (10 ) 19 Purchases, sales and settlements, net — — (3 ) (1 ) — 3 (36 ) (37 ) Transfers in Level 3, net — — 6 — — — — 6 Balance at December 31, 2016 $ 18 $ 1 $ 39 $ — $ — $ 42 $ 98 $ 198 Actual return on assets: Relating to assets sold during the period January 1 through August 31, 2017 (1 ) 2 (20 ) — — — — (19 ) Relating to assets held at August 31, 2017 (7 ) (2 ) 22 — — (5 ) 7 15 Purchases, sales and settlements, net 6 1 (1 ) — — 1 (7 ) — Transfers in (out) of Level 3, net — — 6 2 — (21 ) — (13 ) Balance at August 31, 2017 $ 16 $ 2 $ 46 $ 2 $ — $ 17 $ 98 $ 181 Successor Balance at September 1, 2017 $ 16 $ 2 $ 46 $ 2 $ — $ 17 $ 98 $ 181 Actual return on assets: Relating to assets sold during the period September 1 through December 31, 2017 — — (3 ) — — — — (3 ) Relating to assets held at December 31, 2017 1 (1 ) 5 — — (3 ) 4 6 Purchases, sales and settlements, net — 2 (21 ) — 2 — (6 ) (23 ) Balance at December 31, 2017 $ 17 $ 3 $ 27 $ 2 $ 2 $ 14 $ 96 $ 161 The following table presents additional information about the pension plan assets valued using net asset value as a practical expedient: (In millions) Successor Predecessor December 31, 2017 December 31, 2016 Fair Value Unfunded Commitments Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period Range Hedge funds 1 747 — 434 — Monthly, Quarterly Ranges from 15-45 days monthly, 10-185 days quarterl |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | STOCK-BASED COMPENSATION The company's Equity Incentive Plan ("EIP"), as amended and restated effective August 31, 2017, provides for equity-based and cash incentive awards to certain employees, directors, and consultants. All outstanding DuPont equity awards as of the Merger date were converted into equity awards with respect to DowDuPont Common Stock. The previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock and had a fair value of approximately $629 million at the Merger closing date, which was included in the total consideration exchanged. The converted DuPont equity awards were measured at their fair value and included $485 million as consideration exchanged and $144 million (includes $23 million of incremental expense as a result of the conversion) that will be amortized to stock compensation expense over the remaining vesting period of the awards. The fair values of the converted awards were based on valuation assumptions developed by management and other information including, but not limited to, historical volatility and dividend yield of DuPont and Dow. DuPont and Dow did not merge their equity and incentive plans as a result of the Merger. Under the amended EIP, the maximum number of shares reserved for the grant or settlement of awards is 110 million shares, provided that each share in excess of 30 million that is issued with respect to any award that is not an option or stock appreciation right will be counted against the 110 million share limit as four and one-half shares. At December 31, 2017, approximately 34 million shares were authorized for future grants under the EIP. The company satisfies stock option exercises and vesting of time-vested restricted stock units ("RSUs") and performance-based restricted stock units ("PSUs") with newly issued shares of DowDuPont Common Stock. The total stock-based compensation cost included in continuing operations within the Consolidated Statement of Operations was $33 million , $85 million , $118 million and $127 million for the period September 1 through December 31, 2017, the period January 1 through August 31, 2017, and the years ended December 31, 2016 and 2015, respectively. The income tax benefits related to stock-based compensation arrangements were $11 million , $29 million , $39 million and $42 million for the period September 1 through December 31, 2017, the period January 1 through August 31, 2017, and the years ended December 31, 2016 and 2015, respectively. The compensation committee determines the long-term incentive mix, including stock options, RSUs and PSUs and may authorize new grants annually. The company estimates expected forfeitures. Stock Options The exercise price of shares subject to option is equal to the market price of DowDuPont's stock on the date of grant. All options vest serially over a three -year period. Stock option awards granted between 2010 and 2015 expire seven years after the grant date and options granted in 2016 and 2017 expire ten years after the grant date. The plan allows retirement-eligible employees to retain any granted awards upon retirement provided the employee has rendered at least six months of service following grant date. The weighted-average grant-date fair value of options granted in the period September 1 through December 31, 2017, the period January 1 through August 31, 2017, and the years ended December 31, 2016 and 2015 was $28.56 , $16.65 , $13.40 , and $11.57 , respectively. To measure the fair value of the awards on the date of grant, the company used the Black-Scholes option pricing model and the following assumptions: Weighted-Average Assumptions Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Dividend yield 2.2 % 2.0 % 2.6 % 2.5 % Expected volatility 23.59 % 23.21 % 28.27 % 22.52 % Risk-free interest rate 2.1 % 2.3 % 1.8 % 1.4 % Expected life of stock options granted during period (years) 7.2 7.2 7.2 5.3 In the Successor period, the company determined the dividend yield by dividing the annualized dividend on DowDuPont's Common Stock by the option exercise price. In the Predecessor periods, the company determined the dividend yield by dividing the annual dividend on DuPont's stock by the option exercise price. A historical daily measurement of volatility is determined based on the expected life of the option granted. In the Successor period, the measurement of volatility used DowDuPont stock information after the Merger date, and a weighted average of Dow and DuPont stock information prior to Merger date. In the Predecessor periods, the measurement of volatility used DuPont stock information. The risk-free interest rate is determined by reference to the yield on an outstanding U.S. Treasury note with a term equal to the expected life of the option granted. Expected life is determined by reference to the company's historical experience. The following table summarizes stock option activity for 2017 under the EIP: Stock Options 2017 Number of Shares (in thousands) Weighted Average Exercise Price (per share) Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2017 (Predecessor) 15,696 $ 58.11 Granted 1,626 76.18 Exercised (4,356 ) 54.52 Forfeited/Expired (136 ) 60.93 Outstanding at August 31, 2017 1 12,830 $ 61.84 4.71 $ 283,365 Exercisable at August 31, 2017 8,441 $ 57.78 3.37 $ 220,716 Outstanding at September 1, 2017 (Successor) 1 16,447 $ 48.24 Granted 174 45.29 Exercised (702 ) 43.07 Forfeited/Expired (30 ) 54.83 Outstanding at December 31, 2017 15,889 $ 48.43 3.74 $ 362,088 Exercisable at December 31, 2017 10,881 $ 45.75 3.06 $ 277,163 1. As a result of the Merger, all previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock, as discussed above. As a result, the number of shares outstanding at September 1, 2017 represents the shares as of August 31, 2017 multiplied by the conversion factor. The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the difference between the closing stock price on the last trading day of the period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their in-the-money options at period end. Total intrinsic value of options exercised for the period September 1 through December 31, 2017, for the period January 1 through August 31, 2017, and for the years ended December 31, 2016 and 2015 were $19 million , $108 million , $86 million and $160 million , respectively. For the period September 1 through December 31, 2017 and for the period January 1 through August 31, 2017, the company realized tax benefits from options exercised of $6 million and $36 million , respectively. As of December 31, 2017, $24 million of total unrecognized pre-tax compensation expense related to non-vested stock options is expected to be recognized over a weighted-average period of 1.86 years. Restricted Stock Units and Performance Deferred Stock The company issues non-vested RSUs that serially vest over a three -year period and, upon vesting, convert one -for-one to DowDuPont Common Stock. A retirement-eligible employee retains any granted awards upon retirement provided the employee has rendered at least six months of service following the grant date. Additional RSUs are also granted periodically to key senior management employees. These RSUs generally vest over periods ranging from two to five years. The fair value of all stock-settled RSUs is based upon the market price of the underlying common stock as of the grant date. The awards have the same terms and conditions as were applicable to such equity awards immediately prior to the Merger closing date. The company grants PSUs to senior leadership. As a result of the Merger, the EIP provisions required PSUs to be converted into RSUs based on the number of PSUs that would vest by assuming that target levels of performance are achieved. Service requirements for vesting in the RSUs replicate those inherent in the exchanged PSUs. Vesting for PSUs granted in 2016 and for the period January 1, 2017 through August 31, 2017 is based upon total shareholder return ("TSR") relative to peer companies. Vesting for PSUs granted in 2015 is equally based upon change in operating net income relative to target and TSR relative to peer companies. Operating net income is net income attributable to DuPont excluding income from discontinued operations after taxes, significant after tax benefits (charges), and non-operating pension and OPEB costs. Non-operating pension and OPEB costs includes all of the components of net periodic benefit cost from continuing operations with the exception of the service cost component. Performance and payouts are determined independently for each metric. The actual award, delivered as DowDuPont Common Stock, can range from zero percent to 200 percent of the original grant. The weighted-average grant-date fair value of PSUs granted for the period January 1 through August 31, 2017, subject to the TSR metric, was $91.56 , and estimated using a Monte Carlo simulation. The weighted-average grant-date fair value of the PSUs, subject to the revenue metric, was based upon the market price of the underlying common stock as of the grant date. In accordance with the Merger Agreement, PSUs converted to RSUs based on an assessment of the underlying market conditions in the PSUs at the greater of target or actual performance levels as of the closing date. As the actual performance levels were not in excess of target as of the closing date, all PSUs converted to RSUs based on target and there was no incremental benefit from the Merger Agreement when compared to DuPont’s EIP. In November 2017, DowDuPont granted PSUs to senior leadership that vest partially based on the realization of cost savings in connection with DowDuPont Cost Synergy Program, as well as DowDuPont’s ability to complete the Intended Business Separations. Performance and payouts are determined independently for each metric. The actual award, delivered in DowDuPont Common Stock, can range from zero percent to 200 percent of the original grant. The weighted-average grant date fair value of the PSUs granted in November 2017 of $71.16 was based upon the market price of the underlying common stock as of the grant date. Nonvested awards of RSUs and PSUs are shown below. 2017 Number of Shares (in thousands) Weighted Average Grant Date Fair Value (per share) Nonvested at December 31, 2016 (Predecessor) 3,390 $ 63.11 Granted 1,124 76.41 Vested (1,332 ) 63.08 Forfeited (104 ) 70.69 Nonvested at August 31, 2017 1 3,078 $ 67.53 Nonvested at September 1, 2017 (Successor) 1 3,948 $ 67.06 Granted 412 70.02 Vested (139 ) 67.67 Forfeited (23 ) 66.65 Nonvested at December 31, 2017 4,198 $ 68.28 1. As a result of the Merger, all previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock, as discussed above. As a result, the number of shares outstanding at September 1, 2017 represents the shares as of August 31, 2017 multiplied by the conversion factor. The total fair value of stock units vested during for the period September 1 through December 31, 2017, the period January 1 through August 31, 2017, and the years ended December 31, 2016 and 2015 was $9 million , $84 million , $83 million and $64 million , respectively. The weighted-average grant-date fair value of stock units granted for the period September 1 through December 31, 2017, for the period January 1 through August 31, 2017, and for the years ended December 31, 2016 and 2015 was $70.02 , $76.41 , $59.50 , and $71.66 , respectively. As of December 31, 2017, $113 million of total unrecognized pre-tax compensation expense related to RSUs and PSUs is expected to be recognized over a weighted average period of 1.73 years. Other Cash-based Awards Other cash-based awards resulted in compensation expense of $83 million , $264 million , $295 million and $179 million for the period September 1 through December 31, 2017, for the period January 1 through August 31, 2017, and for the years ended December 31, 2016 and 2015, respectively, included in income from continuing operations within the Consolidated Statement of Operations. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Instruments Disclosure [Text Block] | FINANCIAL INSTRUMENTS At December 31, 2017, the company had $5,205 million ( $2,713 million at December 31, 2016) of held-to-maturity securities (primarily time deposits and money market funds) classified as cash equivalents, as these securities had maturities of three months or less at the time of purchase; and $952 million ( $1,362 million at December 31, 2016) of held-to-maturity securities (primarily time deposits) classified as marketable securities as these securities had maturities of more than three months to less than 1 year at the time of purchase. The company’s investments in held-to-maturity securities are held at amortized cost, which approximates fair value. These securities are included in cash and cash equivalents, marketable securities, and other current assets in the consolidated balance sheets. Available-for-sale securities are reported at estimated fair value with unrealized gains and losses reported as a component of accumulated other comprehensive loss. There were no sales of available-for-sale securities for the period September 1 through December 31, 2017 or for the period January 1 through August 31, 2017. The proceeds from the sale of available-for-sale securities for the year ended December 31, 2016 were $788 million . Derivative Instruments Objectives and Strategies for Holding Derivative Instruments In the ordinary course of business, the company enters into contractual arrangements (derivatives) to reduce its exposure to foreign currency, interest rate and commodity price risks. The company has established a variety of derivative programs to be utilized for financial risk management. These programs reflect varying levels of exposure coverage and time horizons based on an assessment of risk. Derivative programs have procedures and controls and are approved by the Corporate Financial Risk Management Committee, consistent with the company's financial risk management policies and guidelines. Derivative instruments used are forwards, options, futures and swaps. The company has not designated any nonderivatives as hedging instruments. The company's financial risk management procedures also address counterparty credit approval, limits and routine exposure monitoring and reporting. The counterparties to these contractual arrangements are major financial institutions and major commodity exchanges. The company is exposed to credit loss in the event of nonperformance by these counterparties. The company utilizes collateral support annex agreements with certain counterparties to limit its exposure to credit losses. The company anticipates performance by counterparties to these contracts and therefore no material loss is expected. Market and counterparty credit risks associated with these instruments are regularly reported to management. The notional amounts of the company's derivative instruments were as follows: Notional Amounts Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Derivatives designated as hedging instruments: Commodity contracts $ 587 $ 422 Derivatives not designated as hedging instruments: Foreign currency contracts 10,454 9,896 Commodity contracts 6 7 Foreign Currency Risk The company's objective in managing exposure to foreign currency fluctuations is to reduce earnings and cash flow volatility associated with foreign currency rate changes. Accordingly, the company enters into various contracts that change in value as foreign exchange rates change to protect the value of its existing foreign currency-denominated assets, liabilities, commitments and cash flows. The company routinely uses forward exchange contracts to offset its net exposures, by currency, related to the foreign currency denominated monetary assets and liabilities of its operations. The primary business objective of this hedging program is to maintain an approximately balanced position in foreign currencies so that exchange gains and losses resulting from exchange rate changes, net of related tax effects, are minimized. The company also uses foreign currency exchange contracts to offset a portion of the company's exposure to certain foreign currency-denominated revenues so that gains and losses on these contracts offset changes in the USD value of the related foreign currency-denominated revenues. The objective of the hedge program is to reduce earnings and cash flow volatility related to changes in foreign currency exchange rates. Commodity Price Risk Commodity price risk management programs serve to reduce exposure to price fluctuations on purchases of inventory such as corn, soybeans, soybean oil and soybean meal. The company enters into over-the-counter and exchange-traded derivative commodity instruments to hedge the commodity price risk associated with agricultural commodity exposures. Derivatives Designated as Cash Flow Hedges Foreign Currency Contracts The company uses foreign currency exchange instruments such as forwards and options to offset a portion of the company's exposure to certain foreign currency-denominated revenues so that gains and losses on these contracts offset changes in the USD value of the related foreign currency-denominated revenues. In addition, the company occasionally uses forward exchange contracts to offset a portion of the company’s exposure to certain foreign currency-denominated transactions such as capital expenditures. Commodity Contracts The company enters into over-the-counter and exchange-traded derivative commodity instruments, including options, futures and swaps, to hedge the commodity price risk associated with agriculture commodity exposures. While each risk management program has a different time maturity period, most programs currently do not extend beyond the next two -year period. Cash flow hedge results are reclassified into earnings during the same period in which the related exposure impacts earnings. Reclassifications are made sooner if it appears that a forecasted transaction is not probable of occurring. The following table summarizes the after-tax effect of cash flow hedges on accumulated other comprehensive loss: Successor Predecessor (In millions) For the Period For the Period Year Ended December 31, 2016 Beginning balance $ — $ 7 $ (24 ) Additions and revaluations of derivatives designated as cash flow hedges (2 ) 3 20 Clearance of hedge results to earnings — (13 ) 11 Ending balance $ (2 ) $ (3 ) $ 7 At December 31, 2017, an after-tax net loss of $(6) million is expected to be reclassified from accumulated other comprehensive loss into earnings over the next twelve months. Derivatives not Designated in Hedging Relationships Foreign Currency Contracts The company routinely uses forward exchange contracts to reduce its net exposure, by currency, related to foreign currency-denominated monetary assets and liabilities of its operations so that exchange gains and losses resulting from exchange rate changes are minimized. The netting of such exposures precludes the use of hedge accounting; however, the required revaluation of the forward contracts and the associated foreign currency-denominated monetary assets and liabilities intends to achieve a minimal earnings impact, after taxes. The company also uses foreign currency exchange contracts to offset a portion of the company's exposure to certain foreign currency-denominated revenues so that gains and losses on the contracts offset changes in the USD value of the related foreign currency-denominated revenues. Commodity Contracts The company utilizes options, futures and swaps that are not designated as hedging instruments to reduce exposure to commodity price fluctuations on purchases of inventory such as corn, soybeans, soybean oil and soybean meal. Fair Value of Derivative Instruments During the Predecessor period, the company's derivative assets and liabilities are reported on a gross basis in the Consolidated Balance Sheets. During the Successor period, to conform with DowDuPont's presentation post-merger, asset and liability derivatives subject to an enforceable master netting arrangement with the same counterparty are presented on a net basis in the Consolidated Balance Sheets. The presentation of the company's derivative assets and liabilities is as follows: Successor December 31, 2017 (In millions) Balance Sheet Location Gross Counterparty and Cash Collateral Netting 1 Net Amounts Included in the Condensed Consolidated Balance Sheet Asset derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets $ 46 $ (37 ) $ 9 Total asset derivatives $ 46 $ (37 ) $ 9 Liability derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts Accrued and other current liabilities $ 79 $ (32 ) $ 47 Total liability derivatives $ 79 $ (32 ) $ 47 1. Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty. The company held cash collateral of $5 million as of December 31, 2017. Predecessor (In millions) Balance Sheet Location December 31, 2016 Asset derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts 1 Accounts and notes receivable - net $ 182 Total asset derivatives 2 $ 182 Cash collateral 1 Accrued and other current liabilities $ 52 Liability derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts Accrued and other current liabilities $ 121 Total liability derivatives 2 $ 121 1. Cash collateral held as of December 31, 2016 is related to foreign currency derivatives not designated as hedging instruments. 2. The company's derivative assets and liabilities subject to enforceable master netting arrangements totaled $114 million at December 31, 2016. Effect of Derivative Instruments Amount of Gain (Loss) Recognized in OCI 1 (Effective Portion) - Pre Tax Successor Predecessor (In millions) For the Period For the Period Year Ended December 31, 2016 Year Ended December 31, 2015 Derivatives designated as hedging instruments: Cash flow hedges: Foreign currency contracts $ — — — (2 ) Commodity contracts 3 5 32 (35 ) Total derivatives designated as hedging instruments $ 3 $ 5 $ 32 $ (37 ) Total derivatives $ 3 $ 5 $ 32 $ (37 ) 1. OCI is defined as other comprehensive income (loss). Amount of Gain (Loss) Recognized in Income - Pre Tax 1 Successor Predecessor (In millions) For the Period For the Period Year Ended December 31, 2016 Year Ended December 31, 2015 Derivatives designated as hedging instruments: Fair value hedges: Interest rate swaps 2 $ — $ — $ — $ (1 ) Cash flow hedges: Foreign currency contracts 3 — — — 10 Commodity contracts 2 — 21 (18 ) (22 ) Total derivatives designated as hedging instruments $ — $ 21 $ (18 ) $ (13 ) Derivatives not designated as hedging instruments: Foreign currency contracts 4 91 (431 ) (304 ) 434 Foreign currency contracts 3 — — (12 ) (3 ) Commodity contracts 2 — 2 (11 ) (2 ) Total derivatives not designated as hedging instruments 91 (429 ) (327 ) 429 Total derivatives $ 91 $ (408 ) $ (345 ) $ 416 1. For cash flow hedges, this represents the effective portion of the gain (loss) reclassified from accumulated OCI into income during the period. There was no material ineffectiveness with regard to the company's cash flow hedges during the period. 2. Recorded in cost of goods sold. 3. Recorded in net sales. 4. Gain recognized in sundry income - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 6 for additional information. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | FAIR VALUE MEASUREMENTS The following tables summarize the bases used to measure certain assets and liabilities at fair value on a recurring basis: December 31, 2017 (Successor) Significant Other Observable Inputs (Level 2) (In millions) Assets at fair value: Cash equivalents 1 $ 5,205 Marketable securities $ 952 Derivatives relating to: 2 Foreign currency 46 Total assets at fair value $ 6,203 Liabilities at fair value: Long-term debt 3 $ 11,560 Derivatives relating to: 2 Foreign currency 79 Total liabilities at fair value $ 11,639 1. Time deposits included in "Cash and cash equivalents" and money market funds included in "Other current assets" in the consolidated balance sheets are held at amortized cost, which approximates fair value. 2. See Note 18 for the classification of derivatives in the consolidated balance sheets. 3. See Note 13 for information on fair value measurements of long-term debt. December 31, 2016 (Predecessor) Significant Other Observable Inputs (Level 2) (In millions) Assets at fair value: Cash equivalents 1 $ 2,713 Marketable securities $ 1,362 Derivatives relating to: 2 Foreign currency 182 Total assets at fair value $ 4,257 Liabilities at fair value: Long-term debt 3 $ 8,464 Derivatives relating to: 2 Foreign currency 121 Total liabilities at fair value $ 8,585 1. Time deposits included in "Cash and cash equivalents" and money market funds included in "Other current assets" in the consolidated balance sheets are held at amortized cost, which approximates fair value. 2. See Note 18 for the classification of derivatives in the consolidated balance sheets. 3. See Note 13 for information on fair value measurements of long-term debt. For assets and liabilities classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs. For assets and liabilities classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability, or by using observable market data points of similar, more liquid securities to imply the price. For time deposits classified as held-to-maturity investments and reported at amortized cost, fair value is based on an observable interest rate for similar securities. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks. For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates, commodity prices, swap rates, interest rates and implied volatilities obtained from various market sources. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance/quality checks. For all other assets and liabilities for which observable inputs are used, fair value is derived through the use of fair value models, such as a discounted cash flow model or other standard pricing models. See Note 18 for further information on the types of instruments used by the company for risk management. There were no transfers between Levels 1 and 2 during the years ended December 31, 2017 and December 31, 2016. For assets classified as Level 3 measurements, the fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity. The fair value of the company’s interests held in trade receivable conduits is determined by calculating the expected amount of cash to be received using the key input of anticipated credit losses in the portfolio of receivables sold that have not yet been collected. Given the short-term nature of the underlying receivables, discount rate and prepayments are not factors in determining the fair value of the interests. |
Geographic and Product Line Inf
Geographic and Product Line Information | 12 Months Ended |
Dec. 31, 2017 | |
Geographical Reporting [Abstract] | |
Geographic and Principal Product Group Information [Text Block] | GEOGRAPHIC AND PRODUCT LINE INFORMATION Sales are attributed to geographic areas based on customer location; long-lived assets are attributed to geographic areas based on asset location. Net Sales Successor Predecessor (In millions) Sept 1 - Dec 31, 2017 Jan 1 - Aug 31, 2017 Year Ended Dec 31, 2016 Year Ended Dec 31, 2015 United States $ 2,086 $ 7,535 $ 9,500 $ 9,812 Canada 139 583 669 692 EMEA 1 1,689 3,927 5,251 5,483 Asia Pacific 2 2,047 3,844 5,407 5,292 Latin America 1,092 1,392 2,382 2,378 Total $ 7,053 $ 17,281 $ 23,209 $ 23,657 1. Europe, Middle East, and Africa (EMEA). 2. Net sales for China in the Successor period were $818 million . Net sales for China were less than 10 percent of consolidated net sales in all Predecessor periods. Net Property Successor Predecessor (In millions) 2017 2016 2015 United States $ 7,708 $ 5,951 $ 6,458 Canada 170 124 128 EMEA 1 2,867 1,550 1,582 Asia Pacific 1,120 797 854 Latin America 570 429 392 Total $ 12,435 $ 8,851 $ 9,414 1. Europe, Middle East, and Africa (EMEA). Net Sales by Principal Product Line Effective with the Merger, DuPont’s business activities are components of its parent company’s business operations. DuPont’s business activities, including the assessment of performance and allocation of resources, are reviewed and managed by DowDuPont. Information used by the chief operating decision maker of DuPont relates to the company in its entirety. Accordingly, there are no separate reportable business segments for DuPont under ASC Topic 280 “Segment Reporting” and DuPont's business results are reported in this Form 10-K as a single operating segment. Prior year's segment information has been made to conform to the current presentation. The company has one reportable segment with the following principal product lines: agriculture, packaging and specialty plastics, electronics and imaging, nutrition and health, industrial biosciences, transportation and advanced polymers and safety and construction. Net sales by principal product line are included below: Net Sales Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Agriculture $ 1,596 $ 6,894 $ 8,131 $ 8,327 Packaging and Specialty Plastics 544 1,072 1,651 1,715 Electronics and Imaging 743 1,422 1,960 2,070 Nutrition and Health 1,165 2,129 3,268 3,256 Industrial Biosciences 573 1,022 1,500 1,478 Transportation and Advanced Polymers 1,355 2,608 3,599 3,591 Safety and Construction 1,074 2,134 3,099 3,220 Other 3 — 1 — Total $ 7,053 $ 17,281 $ 23,209 $ 23,657 |
Quaterly Financial Data
Quaterly Financial Data | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | QUARTERLY FINANCIAL DATA 2017 Predecessor Successor In millions, except per share amounts (unaudited) First Second July 1 - Aug 31 Sept 1 - Sept 30 Fourth Net sales $ 7,319 $ 6,971 $ 2,991 $ 1,735 $ 5,318 Cost of goods sold 4,209 4,021 1,975 1,511 2 4,654 2 Restructuring and asset related charges - net 1 152 160 11 40 140 Net income (loss) 1,121 3,4,5 869 3 (229 ) 3 (295 ) 1,3 1,305 1,3,6 Net income (loss) attributable to DuPont 1,113 862 (234 ) (293 ) 1,303 Earnings per common share, continuing operations - basic 9 1.35 0.82 (0.30 ) Earnings per common share, continuing operations - diluted 9 1.34 0.82 (0.30 ) 2016 Predecessor In millions, except per share amounts (unaudited) First Second Third Fourth Net sales $ 7,014 $ 6,646 $ 4,646 $ 4,903 Cost of goods sold 4,103 3,823 2,997 3,032 Restructuring and asset related charges - net 1 78 (88 ) 172 394 Net income (loss) 1,232 7,8 1,024 7 6 7 263 7 Net income (loss) attributable to DuPont 1,226 1,020 2 265 Earnings per common share, continuing operations - basic 9 1.23 1.03 (0.08 ) 0.19 Earnings per common share, continuing operations - diluted 9 1.22 1.02 (0.08 ) 0.19 1. See Note 5 for additional information. 2. Includes charges of $(360) million and $(1,109) million during the period September 1 - September 30, 2017 and the fourth quarter 2017, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business, which was included in cost of goods sold. See Note 3 for additional information. 3. Includes charges of $(170) million , $(201) million , $(210) million , $(71) million , and $(243) million in the first quarter 2017, second quarter 2017, the period July 1 - August 31, 2017, the period September 1 - September 30, 2017, and the fourth quarter 2017, respectively, related to transaction costs associated with the Merger. Predecessor costs are recorded in selling, general and administrative expenses; Successor costs are recoded in integration and separation costs. See Note 3 for additional information. 4. First quarter 2017 included a gain of $162 million recorded in sundry income - net associated with the sale of the company's global food safety diagnostic business. See Note 4 for additional information. 5. First quarter 2017 included a tax benefit of $53 million , as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. 6. Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to the Tax Cuts and Jobs Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. See Note 7 for additional information. 7. First, second, third and fourth quarter 2016 included charges of $(24) million , $(76) million , $(122) million , and $(164) million , respectively, recorded in selling, general and administrative expenses related to transaction costs associated with the Merger. See Note 3 for additional information. 8. First quarter 2016 included a gain of $369 million recorded in sundry income - net associated with the sale of the DuPont (Shenzhen) Manufacturing Limited entity, which held certain buildings and other assets. See Note 4 for additional information. 9. Due to quarterly changes in the share count and the allocation of income to participating securities, the sum of the four quarters may not equal the earnings per share amount calculated for the year. |
Subsequent Events (Notes)
Subsequent Events (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | SUBSEQUENT EVENTS In February 2018, the company entered into a new committed receivable repurchase facility of up to $1,300 million (the 2018 Repurchase Facility) which expires in December 2018. Under the 2018 Repurchase Facility, DuPont may sell a portfolio of available and eligible outstanding customer notes receivables within the agriculture product line to participating institutions and simultaneously agree to repurchase at a future date. The 2018 Repurchase Facility is considered a secured borrowing with the customer notes receivables inclusive of those that are sold and repurchased, equal to 105 percent of the outstanding amounts borrowed utilized as collateral. Borrowings under the 2018 Repurchase Facility will have an interest rate of LIBOR + 0.75 percent . |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Other) | 12 Months Ended |
Dec. 31, 2017 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Schedule II—Valuation and Qualifying Accounts (Dollars in millions) Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Accounts Receivable—Allowance for Doubtful Receivables Balance at beginning of period $ — $ 287 $ 225 $ 235 Additions charged to expenses 10 51 119 58 Deductions from reserves 1 — (33 ) (57 ) (68 ) Balance at end of period $ 10 $ 305 $ 287 $ 225 Inventory—Obsolescence Reserve Balance at beginning of period $ — $ 214 $ 237 $ 179 Additions charged to expenses 89 241 275 391 Deductions from reserves 2 (34 ) (181 ) (298 ) (333 ) Balance at end of period $ 55 $ 274 $ 214 $ 237 Deferred Tax Assets—Valuation Allowance Balance at beginning of period $ 1,323 $ 1,308 $ 1,529 $ 1,704 Additions charged to expenses 84 95 74 40 Deductions from reserves (29 ) (20 ) (295 ) (215 ) Balance at end of period $ 1,378 $ 1,383 $ 1,308 $ 1,529 1. Deductions include write-offs, recoveries and currency translation adjustments. 2. Deductions include disposals and currency translation adjustments. |
Summary of Significant Accoun32
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Principles of Consolidation and Basis of Presentation | Principles of Consolidation and Basis of Presentation The accompanying Consolidated Financial Statements of E. I. du Pont de Nemours and Company (“DuPont” or “the company”) were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The significant accounting policies described below, together with the other notes that follow, are an integral part of the Consolidated Financial Statements. DowDuPont Inc. ("DowDuPont") was formed on December 9, 2015 to effect an all-stock, merger of equals strategic combination between The Dow Chemical Company ("Dow") and DuPont (the "Merger Transaction"). On August 31, 2017 at 11:59 pm ET, (the "Merger Effectiveness Time") pursuant to the Agreement and Plan of Merger, dated as of December 11, 2015, as amended on March 31, 2017 (the "Merger Agreement"), Dow and DuPont each merged with wholly owned subsidiaries of DowDuPont ("Mergers") and, as a result of the Mergers, Dow and DuPont became subsidiaries of DowDuPont (collectively, the "Merger"). Prior to the Merger, DowDuPont did not conduct any business activities other than those required for its formation and matters contemplated by the Merger Agreement. DowDuPont intends to pursue, subject to the receipt of approval by the Board of Directors of DowDuPont, the separation of the combined company's agriculture business, specialty products business and materials science business through a series of tax-efficient transactions (collectively, the "Intended Business Separations"). For purposes of DowDuPont's financial statement presentation, Dow was determined to be the accounting acquirer in the Merger and DuPont's assets and liabilities are reflected at fair value as of the Merger Effectiveness Time. In connection with the Merger and the related accounting determination, DuPont has elected to apply push-down accounting and reflect in its financial statements the fair value of its assets and liabilities. DuPont's Consolidated Financial Statements for periods following the close of the Merger are labeled “Successor” and reflect DowDuPont’s basis in the fair values of the assets and liabilities of DuPont. All periods prior to the closing of the Merger reflect the historical accounting basis in DuPont's assets and liabilities and are labeled “Predecessor.” The Consolidated Financial Statements and footnotes include a black line division between the columns titled "Predecessor" and "Successor" to signify that the amounts shown for the periods prior to and following the Merger are not comparable. See Note 3 for additional information on the Merger. Transactions between DowDuPont, DuPont, Dow and their affiliates and other associated companies are reflected in the Successor consolidated financial statements and disclosed as related party transactions when material. Related party transactions with DowDuPont are included in Note 6. Related party transactions with Dow and their affiliates were not material as of December 31, 2017 and for the period September 1 through December 31, 2017. As a condition of the regulatory approval for the Merger Transaction, the company was required to divest certain assets related to its crop protection business and research and development ("R&D") organization, specifically the company’s Cereal Broadleaf Herbicides and Chewing Insecticides portfolios, including Rynaxypyr ® , Cyazypyr ® and Indoxacarb as well as the crop protection R&D pipeline and organization, excluding seed treatment, nematicides, and late-stage R&D programs. On March 31, 2017, the company entered into a definitive agreement (the "FMC Transaction Agreement") with FMC Corporation ("FMC"). Under the FMC Transaction Agreement, FMC would acquire the crop protection business and R&D assets that DuPont was required to divest in order to obtain European Commission ("EC") approval of the Merger Transaction as described above, (the "Divested Ag Business") and DuPont agreed to acquire certain assets relating to FMC’s Health and Nutrition segment, excluding its Omega-3 products (the "H&N Business") (collectively, the "FMC Transactions"). On November 1, 2017, the company completed the FMC Transactions through the disposition of the Divested Ag Business and the acquisition of the H&N Business. The sale of the Divested Ag Business meets the criteria for discontinued operations and as such, results of operations are presented as discontinued operations and have been excluded from continuing operations for all periods presented. The sum of the individual earnings per share amounts from continuing operations and discontinued operations may not equal the total company earnings per share amounts due to rounding. The assets and liabilities related to the Divested Ag Business for all periods are presented as assets and liabilities held for sale in the Consolidated Balance Sheets. The comprehensive income and cash flows related to the Divested Ag Business have not been segregated and are included in the Consolidated Statements of Comprehensive Income and Consolidated Statements of Cash Flows, respectively, for all periods presented. Amounts related to the Divested Ag Business are consistently included or excluded from the Notes to the Consolidated Financial Statements based on the respective financial statement line item. See Note 4 for additional information. On July 1, 2015, the company completed the separation of its Performance Chemicals segment through the spin-off of all of the issued and outstanding stock of The Chemours Company ("Chemours"). In accordance with GAAP, the results of operations of the Performance Chemicals segment are presented as discontinued operations and, as such, have been excluded from continuing operations in the Consolidated Statements of Operations for all periods presented. See Note 4 for additional information. Certain reclassifications of prior year's data have been made to conform to current year's presentation. As described in Note 2, effective January 1, 2017, the company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting. In conjunction with the adoption of this ASU, the company retrospectively reclassified cash flows related to income tax impacts associated with employee share-based payments in the Consolidated Statements of Cash Flows, as described in Note 2. |
Basis of Consolidation | The Consolidated Financial Statements include the accounts of the company and subsidiaries in which a controlling interest is maintained. For those consolidated subsidiaries in which the company's ownership is less than 100 percent, the outside stockholders' interests are shown as noncontrolling interests. Investments in affiliates over which the company has significant influence but not a controlling interest are accounted for under the equity method. The company is also involved with certain joint ventures accounted for under the equity method of accounting that are variable interest entities ("VIEs"). The company is not the primary beneficiary, as the nature of the company's involvement with the VIEs does not provide it the power to direct the VIEs significant activities. Future events may require these VIEs to be consolidated if the company becomes the primary beneficiary. At December 31, 2017 and 2016 , the maximum exposure to loss related to the nonconsolidated VIEs is not considered material to the Consolidated Financial Statements. |
Use of Estimates | Use of Estimates in Financial Statement Preparation The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The company’s consolidated financial statements include amounts that are based on management’s best estimates and judgments. Actual results could differ from those estimates. In connection with the Merger, DowDuPont has performed a preliminary allocation of the total consideration exchanged for the DuPont assets and liabilities it acquired using preliminary estimates. The estimates are subject to change as discussed in Note 3. |
Changes in Accounting and Reporting | Changes in Accounting and Reporting Within the Successor period, DuPont made the following changes in accounting and reporting to harmonize its accounting and reporting with DowDuPont. Within the Successor period of the Consolidated Statements of Operations: • Included royalty income within net sales. In the Predecessor periods, royalty income is included within sundry income - net. • Eliminated the other operating charges line item. In the Successor period, a majority of these costs are included within cost of goods sold. These costs are also included in selling, general and administrative expenses and amortization of intangibles in the Successor period. • Presented amortization of intangibles as a separate line item. In the Predecessor periods, amortization is included within cost of goods sold, selling, general and administrative expenses, other operating charges, and research and development expenses. • Presented integration and separation costs as a separate line item. In the Predecessor periods, these costs are included within selling, general and administrative expenses. • Included interest accrued related to unrecognized tax benefits within the (benefit from) provision for income taxes on continuing operations. In the Predecessor period, interest accrued related to unrecognized tax benefits is included within sundry income - net. Within the Successor period of the Consolidated Balance Sheets: • Included loans to nonconsolidated affiliates within other assets. In the Predecessor period, loans are included within investment in nonconsolidated affiliates. • Included accrued discounts and rebates within accounts payable. In the Predecessor period, accrued discounts and rebates are included within accrued and other current liabilities. • Included non-current pension liabilities within pension and other post employment benefits - noncurrent. In the Predecessor period, non-current pension liabilities are included within other noncurrent obligations. Within the Successor period of the Consolidated Statements of Cash Flows: • Included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. In the Predecessor period, DuPont reflected non-qualified hedge programs, specifically forward contracts, options and cash collateral activity, within cash flows from investing activities. In the Predecessor period, DuPont reflected cash flows from qualified programs within the line item it related to (i.e., revenue hedge cash flows presented within changes from accounts receivable). • Aligned the line items within "changes in assets and liabilities, net of effects of acquired and divested companies" to the DowDuPont presentation, including accounts and notes receivable, inventories, accounts payable, and other assets and liabilities. In the Predecessor period, the line item "changes in assets and liabilities, net of effects of acquired and divested companies" includes accounts and notes receivable, inventories and other operating assets, accounts payable and other operating liabilities, and accrued interest and income taxes. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash equivalents represent investments with maturities of three months or less from time of purchase. They are carried at cost plus accrued interest. |
Restricted Cash | Restricted Cash Restricted cash represents trust assets of $558 million as of December 31, 2017, and is included within other current assets on the Consolidated Balance Sheets. See Note 6 and Note 16 for further information. |
Marketable Securities | Marketable Securities Marketable securities represent investments in fixed and floating rate financial instruments with maturities greater than three months and up to twelve months at time of purchase. Investments classified as held-to-maturity are recorded at amortized cost. The carrying value approximates fair value due to the short-term nature of the investments. Investments classified as available-for-sale are carried at estimated fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income (loss). The cost of investments sold is determined by specific identification. |
Fair Value Measurements | Fair Value Measurements Under the accounting guidance for fair value measurements and disclosures, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The company uses the following valuation techniques to measure fair value for its assets and liabilities: Level 1 – Quoted market prices in active markets for identical assets or liabilities; Level 2 – Significant other observable inputs (e.g. quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs); Level 3 – Unobservable inputs for the asset or liability, which are valued based on management's estimates of assumptions that market participants would use in pricing the asset or liability. |
Foreign Currency Translation | Foreign Currency Translation The company's worldwide operations utilize the U.S. dollar (USD) or local currency as the functional currency, where applicable. The company identifies its separate and distinct foreign entities and groups the foreign entities into two categories: 1) extension of the parent or foreign subsidiaries operating in a hyper-inflationary environment (USD functional currency) and 2) self-contained (local functional currency). If a foreign entity does not align with either category, factors are evaluated and a judgment is made to determine the functional currency. For foreign entities where the USD is the functional currency, all foreign currency-denominated asset and liability amounts are re-measured into USD at end-of-period exchange rates, except for inventories, prepaid expenses, property, plant and equipment, goodwill and other intangible assets, which are re-measured at historical rates. Foreign currency income and expenses are re-measured at average exchange rates in effect during the year, except for expenses related to balance sheet amounts re-measured at historical exchange rates. Exchange gains and losses arising from re-measurement of foreign currency-denominated monetary assets and liabilities are included in income in the period in which they occur. For foreign entities where the local currency is the functional currency, assets and liabilities denominated in local currencies are translated into USD at end-of-period exchange rates and the resultant translation adjustments are reported, net of their related tax effects, as a component of accumulated other comprehensive loss in equity. Assets and liabilities denominated in other than the local currency are re-measured into the local currency prior to translation into USD and the resultant exchange gains or losses are included in income in the period in which they occur. Income and expenses are translated into USD at average exchange rates in effect during the period. The company changes the functional currency of its separate and distinct foreign entities only when significant changes in economic facts and circumstances indicate clearly that the functional currency has changed. |
Inventories | Inventories The company's inventories are valued at the lower of cost or net realizable value. Elements of cost in inventories include raw materials, direct labor and manufacturing overhead. Stores and supplies are valued at cost or net realizable value, whichever is lower; cost is generally determined by the average cost method. As of December 31, 2017 approximately 60 percent , 30 percent , and 10 percent of the company's inventories were accounted for under the first-in, first-out ("FIFO"), average cost and the last-in, first-out ("LIFO") methods, respectively. As of December 31, 2016 approximately 55 percent , 30 percent , and 15 percent of the company's inventories were accounted for under the FIFO, average cost and LIFO methods, respectively. Inventories accounted for under the FIFO method are primarily comprised of products with shorter shelf lives such as seeds, certain food-ingredients and enzymes. The company establishes allowances for obsolescence of inventory based upon quality considerations and assumptions about future demand and market conditions. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are carried at cost less accumulated depreciation. In connection with the Merger, the preliminary estimated fair value of property, plant and equipment is determined using a market approach and a replacement cost approach. Refer to Note 3 for further information. Depreciation is based on the estimated service lives of depreciable assets and is calculated using the straight-line method. Fully depreciated assets are retained in property and accumulated depreciation accounts until they are removed from service. When assets are surrendered, retired, sold, or otherwise disposed of, their gross carrying values and related accumulated depreciation are removed from the Consolidated Balance Sheets and included in determining gain or loss on such disposals. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The company records goodwill when the purchase price of a business acquisition exceeds the estimated fair value of net identified tangible and intangible assets acquired. Goodwill is tested for impairment at the reporting unit level annually, or more frequently when events or changes in circumstances indicate that the fair value of a reporting unit has more likely than not declined below its carrying value. In connection with the Merger Transaction, the company adopted the policy of DowDuPont and performed an annual goodwill impairment test in the fourth quarter of 2017. In the Predecessor periods, the annual impairment test was performed in the third quarter. When testing goodwill for impairment, the company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the company chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required. The company's fair value methodology is primarily based on discounted cash flow techniques. See Note 12 for further information on goodwill. Indefinite-lived intangible assets are tested for impairment at least annually; however, these tests are performed more frequently when events or changes in circumstances indicate that the asset may be impaired. Impairment exists when carrying value exceeds fair value. The company's fair value methodology is primarily based on discounted cash flow techniques. Definite-lived intangible assets are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging primarily from 1 to 23 years. The company continually evaluates the reasonableness of the useful lives of these assets. Once these assets are fully amortized, they are removed from the Consolidated Balance Sheets. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The company evaluates the carrying value of long-lived assets to be held and used when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of a long-lived asset group is considered impaired when the total projected undiscounted cash flows from the assets are separately identifiable and are less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. The company's fair value methodology is an estimate of fair market value which is made based on prices of similar assets or other valuation methodologies including present value techniques. Long-lived assets to be disposed of by sale, if material, are classified as held for sale and reported at the lower of carrying amount or fair value less cost to sell, and depreciation is ceased. Long-lived assets to be disposed of other than by sale are classified as held and used until they are disposed of and reported at the lower of carrying amount or fair value. Depreciation is recognized over the remaining useful life of the assets. |
Derivative Instruments | Derivative Instruments Derivative instruments are reported in the Consolidated Balance Sheets at their fair values. The company utilizes derivatives to manage exposures to foreign currency exchange rates and commodity prices. Changes in the fair values of derivative instruments that are not designated as hedges are recorded in current period earnings. For derivative instruments designated as cash flow hedges, the effective portion of any hedge is reported in accumulated other comprehensive loss until it is cleared to earnings during the same period in which the hedged item affects earnings. The ineffective portion of all hedges is recognized in current period earnings. In the event that a derivative designated as a hedge of a firm commitment or an anticipated transaction is terminated prior to the maturation of the hedged transaction, gains or losses realized at termination are deferred and included in the measurement of the hedged transaction. If a hedged transaction matures, or is sold, extinguished, or terminated prior to the maturity of a derivative designated as a hedge of such transaction, gains or losses associated with the derivative through the date the transaction matured are included in the measurement of the hedged transaction and the derivative is reclassified as for trading purposes. Derivatives designated as hedges of anticipated transactions are reclassified as for trading purposes if the anticipated transaction is no longer probable. In the Predecessor period, the company reflected non-qualified hedge programs, specifically forward contracts, options and cash collateral activity, within cash flows from investing activities. In the Predecessor period, the company reflected cash flows from qualified programs within the line item it related to (i.e., revenue hedge cash flows presented within changes from accounts receivable). In the Successor period, the company included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. See Note 18 for additional discussion regarding the company's objectives and strategies for derivative instruments. |
Environmental Matters | Environmental Matters Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the Consolidated Balance Sheets in accrued and other current liabilities and other noncurrent obligations at undiscounted amounts. Accruals for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the consolidated balance sheets as accounts and notes receivable - net. Environmental costs are capitalized if the costs extend the life of the property, increase its capacity, and/or mitigate or prevent contamination from future operations. Environmental costs are also capitalized in recognition of legal asset retirement obligations resulting from the acquisition, construction and/or normal operation of a long-lived asset. Costs related to environmental contamination treatment and cleanup are charged to expense. Estimated future incremental operations, maintenance and management costs directly related to remediation are accrued when such costs are probable and reasonably estimable. |
Revenue Recognition | Revenue Recognition The company recognizes revenue when it is realized or realizable, and the earnings process is complete. The company's revenues are from the sale of a wide range of products to a diversified base of customers around the world. Revenue for product sales is recognized when title and risk of loss have been transferred, collectability is reasonably assured and pricing is fixed or determinable. A majority of product sales are sold FOB (free on board) shipping point or, with respect to non-United States of America (U.S.) customers, an equivalent basis. Accruals are made for sales returns and other allowances based on the company's experience. The company accounts for cash sales incentives as a reduction in sales and noncash sales incentives as a charge to cost of goods sold or selling expense, depending on the nature of the incentive. Amounts billed to customers for shipping and handling fees are included in net sales and costs incurred by the company for the delivery of goods are classified as cost of goods sold in the Consolidated Statements of Operations. Taxes on revenue-producing transactions are excluded from net sales. The company periodically enters into prepayment contracts with the agriculture product line's customers and receives advance payments for product to be delivered in future periods. These advance payments are recorded as deferred revenue (classified as accrued and other current liabilities) or debt, depending on the nature of the program. Revenue associated with advance payments is recognized as shipments are made and title, ownership and risk of loss pass to the customer. Licensing and royalty income is recognized in accordance with agreed upon terms, when performance obligations are satisfied, the amount is fixed or determinable and collectability is reasonably assured. |
Royalty Expense | Royalty Expense The company’s agriculture product line currently has certain third party biotechnology trait license agreements, which require up-front and variable payments subject to the licensor meeting certain conditions. These payments are reflected as other current assets and other assets and are amortized to cost of goods sold as seeds containing the respective trait technology are utilized over the life of the license. The company evaluates the carrying value of the prepaid royalties when events or changes in circumstances indicate the carrying value may not be recoverable. |
Cost of Goods Sold | Cost of Goods Sold Successor periods - Cost of goods sold primarily includes the cost of manufacture and delivery, ingredients or raw materials, direct salaries, wages and benefits and overhead, non-capitalizable costs associated with capital projects and other operational expenses. No amortization of intangibles is included within costs of goods sold. Predecessor periods - Cost of goods sold primarily includes the cost of manufacture and delivery, ingredients or raw materials, direct salaries, wages and benefits and overhead. |
Other Operating Charges | Other Operating Charges Predecessor periods - Other operating charges includes product claim charges and recoveries, non-capitalizable costs associated with capital projects and other operational expenses. |
Research and Development | Research and Development Research and development costs are expensed as incurred. Research and development expense includes costs (primarily consisting of employee costs, materials, contract services, research agreements, and other external spend) relating to the discovery and development of new products, enhancement of existing products and regulatory approval of new and existing products. |
Selling, General and Administrative Expenses | Selling, General and Administrative Expenses Successor periods - Selling, general and administrative expenses primarily include selling and marketing expenses, commissions, functional costs, and business management expenses. Predecessor periods - Selling, general and administrative expenses primarily include selling and marketing expenses, commissions, functional costs, business management expenses and integration and separation costs. |
Integration and Separation Costs | Integration and Separation Costs Successor periods - Integration and separation costs includes costs incurred to prepare for and close the Merger, post-Merger integration expenses and costs incurred to prepare for the Intended Business Separations. These costs primarily consist of financial advisory, information technology, legal, accounting, consulting and other professional advisory fees associated with preparation and execution of these activities. |
Litigation | Litigation Accruals for legal matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Legal costs, such as outside counsel fees and expenses, are charged to expense in the period incurred. |
Severance Costs | Severance Costs Severance benefits are provided to employees under the company's ongoing benefit arrangements. Severance costs are accrued when management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated. |
Insurance and Self Insurance | Insurance/Self-Insurance The company self-insures certain risks where permitted by law or regulation, including workers' compensation, vehicle liability and employee related benefits. Liabilities associated with these risks are estimated in part by considering historical claims experience, demographic factors and other actuarial assumptions. For other risks, the company uses a combination of insurance and self-insurance, reflecting comprehensive reviews of relevant risks. A receivable for an insurance recovery is generally recognized when the loss has occurred and collection is considered probable. |
Income Taxes | Income Taxes The company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities using enacted tax rates. The effect of a change in tax rates on deferred tax assets or liabilities is recognized in income in the period that includes the enactment date (see Note 7 for further information relating to the enactment of the Tax Cuts and Job Act). The company recognizes the financial statement effects of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. The company accrues for other tax contingencies when it is probable that a liability to a taxing authority has been incurred and the amount of the contingency can be reasonably estimated. The current portion of uncertain income tax positions is included in income taxes payable and the long-term portion is included in other noncurrent obligations in the Consolidated Balance Sheets. Provision is made for taxes on undistributed earnings of foreign subsidiaries and related companies to the extent that such earnings are not deemed to be permanently invested. Income tax related penalties are included in the provision for income taxes in the Consolidated Statements of Operations. Interest accrued related to unrecognized tax benefits is included within the (benefit from) provision for income taxes from continuing operations in the Consolidated Statements of Operations in the Successor period. In the Predecessor period, interest accrued related to unrecognized tax benefits is included within sundry income - net in the Consolidated Statements of Operations. |
Segment Reporting | Segments Effective with the Merger, DuPont’s business activities are components of its parent company’s business operations. DuPont’s business activities, including the assessment of performance and allocation of resources, are reviewed and managed by DowDuPont. Information used by the chief operating decision maker of DuPont relates to the company in its entirety. Accordingly, there are no separate reportable business segments for DuPont under Accounting Standards Codification ("ASC") Topic 280 “Segment Reporting” and DuPont's business results are reported in this Form 10-K as a single operating segment. Prior year's segment information has been made to conform to the current presentation. |
Recent Accounting Guidance Rece
Recent Accounting Guidance Recent Accounting Guidance (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Recent Accounting Guidance | RECENT ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting, which modifies the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when stock awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also allows the company to repurchase more of an employee’s vested shares for tax withholding purposes without triggering liability accounting, and clarifies that all cash payments made to tax authorities on an employee’s behalf for withheld shares should be presented as a financing activity on the statement of cash flows. The company adopted this standard as of January 1, 2017. The primary impact of adoption was the recognition of excess tax benefits in the company's provision for income taxes rather than additional paid-in capital, which is applied prospectively in accordance with the guidance. Adoption of the new standard resulted in the recognition of $2 million and $30 million of excess tax benefits in the company's provision for income taxes rather than additional paid-in capital for the period September 1 through December 31, 2017 and the period January 1 through August 31, 2017 , respectively. The company elected to apply the presentation requirements for cash flows related to excess tax benefits retrospectively to all periods presented, which resulted in an increase to both net cash provided by operating activities and net cash used for financing activities of $27 million and $74 million for the years ended December 31, 2016 and 2015, respectively. The presentation requirements for cash flows related to employee taxes paid for withheld shares resulted in an increase to both net cash provided by operating activities and net cash used for financing activities of $30 million and $32 million for the years ended December 31, 2016 and 2015, respectively. The remaining updates required by this standard did not have a material impact to the company’s Consolidated Financial Statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment. The new guidance eliminates the requirement to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. Under the amendments in the new ASU, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new standard is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for annual or interim goodwill impairment testing performed after January 1, 2017. In connection with the Merger Transaction, the company adopted the policy of the parent company and performed its annual goodwill impairment test in the fourth quarter. Previously, the annual impairment test was performed in the third quarter. The company early adopted the new guidance for the annual goodwill impairment test that was performed in the fourth quarter of 2017. See Note 12 for additional information. Accounting Guidance Issued But Not Adopted as of December 31, 2017 In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities. The new guidance expands and refines hedge accounting for both nonfinancial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged items in the financial statements. For cash flow and net investment hedges existing as of the date of adoption, an entity should apply a cumulative-effect adjustment related to eliminating the separate measurement of ineffectiveness to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year in which an entity adopts. Presentation and disclosure guidance is required to be adopted prospectively. The new standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted in any interim period. All transition requirements and elections should be applied to hedging relationships existing (that is, hedging relationships in which the hedging instrument has not expired, been sold, terminated, or exercised or the entity has not removed the designation of the hedging relationship) on the date of adoption. The effect of adoption should be reflected as of the beginning of the fiscal year of adoption. The company is currently evaluating the impact this guidance will have on the Consolidated Financial Statements and related disclosures. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The new guidance requires registrants to present the service cost component of net periodic benefit cost in the same income statement line item or items as other employee compensation costs arising from services rendered during the period. In addition, only the service cost component will be eligible for capitalization in assets. Registrants will present the other components of net periodic benefit cost separately from the service cost component; and, the line item or items used in the income statement to present the other components of net periodic benefit cost must be disclosed. The guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted as of the beginning of an annual period. The new standard must be adopted retrospectively for the presentation of the service cost component and the other components of net periodic benefit cost in the income statement, and prospectively for the capitalization of the service cost component of net periodic benefit cost in assets. The company plans to adopt this guidance in the first quarter of 2018 and is currently evaluating the impact on the Consolidated Financial Statements and related disclosures. The company anticipates approximately half the costs will be reclassified from cost of goods sold, with the remainder reclassified from selling, general and administrative expenses and research and development expense, to sundry income - net in the Consolidated Statements of Operations. See Note 16 for the components of net periodic benefit cost. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The new guidance narrows the existing definition of a business and provides a framework for evaluating whether a transaction should be accounted for as an acquisition (or disposal) of assets or a business. The guidance requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities (collectively, the "set") is not a business. To be considered a business, the set would need to include an input and a substantive process that together significantly contribute to the ability to create outputs, as defined by the ASU. The guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods, and should be applied prospectively. Early adoption is permitted. The company adopted this standard on January 1, 2018 and will apply it prospectively to all applicable transactions after the adoption date. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force), which clarifies how entities should present restricted cash and restricted cash equivalents in the statement of cash flows, and, as a result, entities will no longer present transfers between cash and cash equivalents and restricted cash and restricted cash equivalents in the statement of cash flows. An entity with a material balance of restricted cash and restricted cash equivalents must disclose information about the nature of the restrictions. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted and the new guidance must be applied retrospectively to all periods presented. The new guidance will change the presentation of restricted cash in the Consolidated Statements of Cash Flows and will be applied retrospectively in the first quarter of 2018. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740), Intra-Entity Transfers of Assets Other Than Inventory. The new guidance requires that entities recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than when the asset is sold to an outside party. The guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The new guidance requires adoption on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The company plans to adopt this guidance in the first quarter of 2018 with the expectation that this guidance will have an immaterial impact on the Consolidated Financial Statements and related disclosures. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. The new guidance makes eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The new guidance requires adoption on a retrospective basis unless it is impracticable to apply, in which case the company would be required to apply the amendments prospectively as of the earliest date practicable. The company is currently evaluating the impact this guidance will have on the Consolidated Financial Statements and related disclosures, but does not expect there to be a significant impact. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments under the new guidance will require lessees to recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability, other than leases that meet the definition of a short-term lease. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting. Lessor accounting is similar to the current model, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new leasing standard will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The new standard must be adopted using a modified retrospective transition, requiring application at the beginning of the earliest comparative period presented. The company is currently evaluating the impact of adopting this guidance on the Consolidated Financial Statements and related disclosures. The company is the lessee under various agreements for facilities and equipment that are currently accounted for as operating leases. A discussion of these leases is included in Note 14, "Commitments and Contingent Liabilities." In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which was further updated in March, April, May and December 2016, as well as September and November 2017. The new guidance clarifies the principles for recognizing revenue and develops a common revenue standard for GAAP. The core principle of the 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. The new standard also will result in additional disclosure requirements to describe the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In July 2015, the FASB approved a deferral of the ASU effective date from annual and interim periods beginning after December 15, 2016 to annual and interim periods beginning after December 15, 2017. The standard permits the use of either the retrospective or modified retrospective (cumulative-effect) transition method of adoption. The company will adopt the standard in the first quarter of 2018 under the modified retrospective transition method. The company has substantially completed its evaluation of the impact of the new standard on the Consolidated Financial Statements and has determined that the transition adjustment to be recorded upon adoption is not material and the company does not expect material changes in the timing of revenue recognition. The company continues to evaluate the impact of the new standard on its disclosures. |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Merger with Dow [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | (In millions, except exchange ratio) DuPont Common Stock outstanding as of the Merger Effectiveness Time 868.3 DuPont exchange ratio 1.2820 DowDuPont Common Stock issued in exchange for DuPont Common Stock 1,113.2 Fair value of DowDuPont Common Stock issued 1 $ 74,195 Fair value of DowDuPont equity awards issued in exchange for outstanding DuPont equity awards 2 485 Total consideration $ 74,680 1. Amount was determined based on the price per share of Dow Common Stock of $66.65 on August 31, 2017. 2. Represents the fair value of replacement awards issued for DuPont's equity awards outstanding immediately before the Merger and attributable to the service periods prior to the Merger. The previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock. Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Integration and separation costs $ 314 Selling, general and administrative expenses $ 581 $ 386 $ 10 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Estimated fair value as previously reported 1 Measurement period adjustments 2 Estimated fair value adjusted (In millions) Fair Value of Assets as of the Merger Effectiveness Time Cash and cash equivalents $ 4,005 $ — $ 4,005 Marketable securities 2,849 — 2,849 Accounts and notes receivable 7,851 — 7,851 Inventories 8,886 (79 ) 8,807 Other current assets 360 — 360 Investment in nonconsolidated affiliates 1,685 (31 ) 1,654 Assets held for sale - current 3,184 564 3,748 Property, plant and equipment 12,122 (181 ) 11,941 Goodwill 3 45,501 (396 ) 45,105 Other intangible assets 3 27,844 (623 ) 27,221 Deferred income tax assets 487 (203 ) 284 Other assets 2,076 — 2,076 Total Assets $ 116,850 $ (949 ) $ 115,901 Fair Value of Liabilities Short-term borrowings and capital lease obligations $ 5,319 $ — $ 5,319 Accounts payable 3,283 — 3,283 Income taxes payable 140 — 140 Accrued and other current liabilities 3,517 — 3,517 Liabilities held for sale - current 104 11 115 Long-term debt 9,878 — 9,878 Deferred income tax liabilities 9,408 (940 ) 8,468 Pension and other post employment benefits - noncurrent 8,092 (36 ) 8,056 Other noncurrent obligations 2,028 — 2,028 Total Liabilities $ 41,769 $ (965 ) $ 40,804 Noncontrolling interests 162 16 178 Preferred stock 239 — 239 Fair Value of Net Assets (Consideration for the Merger) $ 74,680 $ — $ 74,680 1. As previously reported in the company’s Quarterly Report on Form 10-Q for the period ended September 30, 2017. 2. DuPont recorded measurement period adjustments in the fourth quarter of 2017 to reflect facts and circumstances in existence as of the Merger Effectiveness Time. These measurement period adjustments primarily related to changes in preliminary valuation assumptions, including market participant estimates of cash flows and estimates of asset useful lives, as well as other initial estimates. All measurement period adjustments were offset against goodwill. 3. See Note 12 for additional information. |
H&N Acquisition [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | (In millions) Fair Value of Divested Ag Business 1 $ 3,665 Less: Cash received 2 1,200 Less: Favorable contracts 3 495 Fair Value of H&N Business $ 1,970 1. Refer to Note 4 for additional information. 2. The FMC Transactions include a cash consideration payment to DuPont of approximately $1,200 million , which reflects the difference in value between the Divested Ag Business and the H&N Business, subject to certain customary inventory and net working capital adjustments. 3. Upon closing and pursuant to the terms of the FMC Transaction Agreement, DuPont entered into favorable supply contracts with FMC. DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 4 and 12 for additional information. |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Successor (In millions) November 1, 2017 Fair Value of Assets Cash and cash equivalents $ 16 Accounts and notes receivable 144 Inventories 314 Property, plant and equipment 505 Goodwill 718 Other intangible assets 435 Other current and non-current assets 16 Total Assets $ 2,148 Fair Value of Liabilities Accounts payable and other accrued liabilities $ 70 Deferred income tax liabilities 108 Total Liabilities $ 178 Fair Value of Net Assets (Consideration for the H&N Business) $ 1,970 |
Schedule of Results of Operations | Successor (In millions) For the Period November 1 through December 31, 2017 Net sales $ 102 Loss from continuing operations before income taxes $ (12 ) |
Divestitures and Other Transa35
Divestitures and Other Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Statement [Member] | Divested Ag Business [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 1 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Net sales $ 199 $ 1,068 $ 1,385 $ 1,473 Cost of goods sold 194 412 514 521 Other operating charges 17 19 25 Research and development expenses 30 95 139 163 Selling, general and administrative expenses 2 102 146 176 187 Restructuring and asset related charges - net (1 ) — (4 ) 15 Sundry (expense) income - net (1 ) 7 1 7 (Loss) Income from discontinued operations before income taxes (127 ) 405 542 569 (Benefit from) Provision for income taxes (50 ) 79 103 121 (Loss) Income from discontinued operations after income taxes $ (77 ) $ 326 $ 439 $ 448 1. Includes results of operations for the period September 1 through October 31, 2017, as the Divested Ag Business was disposed of on November 1, 2017. 2. Successor period includes $44 million of transaction costs associated with the disposal of the Divested Ag Business. |
Income Statement [Member] | Performance Chemicals [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Predecessor (In millions) For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Net sales $ — $ — $ 2,810 Cost of goods sold — — 2,215 Other operating charges 335 36 386 Research and development expense — — 40 Selling, general and administrative expenses — — (87 ) Restructuring and asset related charges - net — — 59 Sundry income - net 3 3 27 Interest expense — — 32 (Loss) income from discontinued operations before income taxes (332 ) (33 ) 192 (Benefit from) provision for income taxes (125 ) (28 ) 106 (Loss) income from discontinued operations after income taxes $ (207 ) $ (5 ) $ 86 |
Cash Flow [Member] | Divested Ag Business [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Depreciation $ — $ 21 $ 32 $ 30 Capital expenditures $ 5 $ 8 $ 40 $ 77 |
Cash Flow [Member] | Performance Chemicals [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | (In millions) Predecessor For the year ended December 31, 2015 Depreciation $ 126 Amortization of intangible assets 2 Capital Expenditures 235 |
Balance Sheet [Member] | Divested Ag Business [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Predecessor (In millions) December 31, 2016 Cash and cash equivalents $ 57 Accounts and notes receivable - net 12 Inventories 323 Other current assets 1 Property, plant and equipment - net 380 Goodwill 11 Other assets 5 Assets held for sale $ 789 Accounts payable 27 Accrued and other current liabilities 12 Deferred income tax liabilities 6 Other noncurrent obligations 29 Liabilities held for sale $ 74 |
Restructuring and Asset Relat36
Restructuring and Asset Related Charges (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
DowDuPont Cost Synergy Program [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | (In millions) Severance and Related Benefit Costs Other Non-Personnel Charges 1 Asset-Related Charges Total Charges to income from continuing operations for the period September 1 through December 31, 2017 (Successor) $ 153 $ 31 $ 3 $ 187 Payments (13 ) (3 ) — (16 ) Asset write-offs — — (3 ) (3 ) Non-cash compensation (7 ) — — (7 ) Balance as of December 31, 2017 $ 133 $ 28 $ — $ 161 1. Other non-personnel charges consist of contractual obligation costs. |
2017 Restructuring Program [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | (In millions) Severance and Related Benefit Costs Asset Related Charges 1 Total Charges to income from continuing operations for the period January 1 through August 31, 2017 (Predecessor) $ 34 $ 279 $ 313 Payments (8 ) — (8 ) Asset write-offs — (279 ) $ (279 ) Balance as of August 31, 2017 $ 26 $ — $ 26 Charges to income from continuing operations for the period September 1 through December 31, 2017 (Successor) $ — $ — $ — Payments (7 ) — (7 ) Balance as of December 31, 2017 $ 19 $ — $ 19 1. Includes accelerated depreciation related to site closure. Charge for accelerated depreciation represents the difference between the depreciation expense to be recognized over the revised useful life of the site, based upon the anticipated date the site will be closed and depreciation expense as determined utilizing the useful life prior to the restructuring action. |
2016 Global Cost Savings and Restructuring Plan [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | (In millions) Severance and Related Benefit Costs Other Non-Personnel Charges 1 Total Balance at December 31, 2016 (Predecessor) $ 100 $ 22 $ 122 Payments (76 ) (11 ) (87 ) Net translation adjustment 2 — 2 Other adjustments 10 — 10 Balance as of August 31, 2017 $ 36 $ 11 $ 47 Balance at September 1, 2017 (Successor) $ 36 $ 11 $ 47 Payments (18 ) (2 ) (20 ) Other adjustments (5 ) — (5 ) Balance as of December 31, 2017 $ 13 $ 9 $ 22 1. Other non-personnel charges consist of contractual obligation costs. |
Supplementary Information (Tabl
Supplementary Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Other Nonoperating Income (Expense) | Sundry Income - Net Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Royalty income 1 $ 84 $ 170 $ 138 Interest income $ 41 83 102 124 Equity in earnings of affiliates - net 1 55 99 49 Net gain on sales of businesses and other assets 2,3 16 205 435 92 Net exchange gains (losses) 8 (394 ) (106 ) 30 Miscellaneous income and expenses - net 4 24 133 7 257 Sundry income - net $ 90 $ 166 $ 707 $ 690 1. In the Successor period, royalty income of $60 million is included in Net Sales. 2. Includes a pre-tax gain of $162 million ( $86 million net of tax) for the period January 1 through August 31, 2017 related to the sale of global food safety diagnostics. See Note 4 for additional information. 3. Includes a pre-tax gain of $369 million ( $214 million net of tax) for the year ended December 31, 2016 related to the sale of DuPont (Shenzhen) Manufacturing Limited. See Note 4 for additional information. 4. Miscellaneous income and expenses - net, includes interest items (in the Predecessor period only), gains (losses) on available for sale securities, gains related to litigation settlements, licensing income, gains on purchases, and other items. |
Foreign Currency Exchange Gain (Loss) | Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Subsidiary Monetary Position (Loss) Gain Pre-tax exchange (loss) gain $ (83 ) $ 37 $ 198 $ (404 ) Local tax (expenses) benefits (3 ) 217 (126 ) (61 ) Net after-tax impact from subsidiary exchange (loss) gain $ (86 ) $ 254 $ 72 $ (465 ) Hedging Program Gain (Loss) Pre-tax exchange gain (loss) $ 91 $ (431 ) $ (304 ) $ 434 Tax (expenses) benefits (33 ) 155 110 (157 ) Net after-tax impact from hedging program exchange gain (loss) $ 58 $ (276 ) $ (194 ) $ 277 Total Exchange Gain (Loss) Pre-tax exchange gain (loss) $ 8 $ (394 ) $ (106 ) $ 30 Tax (expenses) benefits (36 ) 372 (16 ) (218 ) Net after-tax exchange (loss) gain $ (28 ) $ (22 ) $ (122 ) $ (188 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Geographic Allocation of Income and Provision for Income Taxes | Geographic Allocation of Income and Provision for Income Taxes Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 Year Ended 2016 Year Ended 2015 (Loss) Income from continuing operations before income taxes Domestic $ (811 ) $ 409 $ 1,415 $ 1,301 Foreign (775 ) 1,382 1,308 721 (Loss) Income from continuing operations before income taxes $ (1,586 ) $ 1,791 $ 2,723 $ 2,022 Current tax expense (benefit) Federal $ 216 $ (563 ) $ 4 $ 155 State and local 22 (11 ) 9 2 Foreign 187 282 539 420 Total current tax expense (benefit) $ 425 $ (292 ) $ 552 $ 577 Deferred tax (benefit) expense Federal $ (2,790 ) $ 476 $ 22 $ 135 State and local (48 ) (8 ) (29 ) 4 Foreign (260 ) (27 ) 96 (141 ) Total deferred tax (benefit) expense $ (3,098 ) $ 441 $ 89 $ (2 ) (Benefit from) Provision for income taxes on continuing operations (2,673 ) 149 641 575 Net Income from continuing operations $ 1,087 $ 1,642 $ 2,082 $ 1,447 |
Reconciliation to US Statutory Rate | Reconciliation to U.S. Statutory Rate Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 Year Ended 2016 Year Ended 2015 Statutory U.S. federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % Equity earning effect 0.9 (0.5 ) (0.8 ) (0.7 ) Lower effective tax rates on international operations - net (9.5 ) (11.4 ) (9.2 ) (9.7 ) Acquisitions, divestitures and ownership restructuring activities 1, 2 15.8 5.2 1.9 (0.2 ) U.S. research and development credit 0.4 (0.8 ) (0.7 ) (1.5 ) Exchange gains/losses 3 (1.8 ) (12.9 ) 1.9 10.2 Impact of U.S. Tax Reform 126.1 Excess tax benefits from stock compensation 4 0.1 (1.7 ) Tax settlements and expiration of statute of limitations 5 — (3.8 ) (1.1 ) (1.5 ) Other - net 1.5 (0.8 ) (3.5 ) (3.2 ) Effective tax rate 168.5 % 8.3 % 23.5 % 28.4 % 1. See Notes 3 and 4 for additional information. 2. Includes a net tax benefit of $261 million related to an internal legal entity restructuring associated with the Intended Business Separations. 3. Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 6 and Note 18 under the heading Foreign Currency Risk. 4. Reflects the impact of the adoption of Accounting Standards Update ("ASU") 2016-09, which resulted in the recognition of excess tax benefits related to equity compensation in the (benefit from) provision for income taxes on continuing operations. See Note 2 for additional information. 5. The period January 1 through August 31, 2017 includes a tax benefit of $53 million for accrued interest reversals (recorded in sundry income - net). |
Deferred Tax Balances | Deferred Tax Balances at December 31 2017 (Successor) 2016 (Predecessor) (In millions) Assets Liabilities Assets Liabilities Property $ — $ 1,160 $ — $ 742 Tax loss and credit carryforwards 1,690 — 1,808 — Accrued employee benefits 1,988 68 4,529 410 Other accruals and reserves 333 39 617 222 Intangibles 284 6,286 210 1,345 Inventory 130 597 163 138 Long-term debt 109 — — — Investments 23 453 126 230 Unrealized exchange gains/losses — 71 — 346 Other – net 260 121 257 86 Subtotal $ 4,817 $ 8,795 $ 7,710 $ 3,519 Valuation allowances (1,378 ) — (1,308 ) — Total $ 3,439 $ 8,795 $ 6,402 $ 3,519 Net Deferred Tax (Liability) Asset $ (5,356 ) $ 2,883 |
Operating Loss and Tax Credit Carryforwards [Table Text Block] | Operating Loss and Tax Credit Carryforwards Deferred Tax Asset (In millions) 2017 (Successor) 2016 (Predecessor) Operating loss carryforwards Expire within 5 years $ 42 $ 41 Expire after 5 years or indefinite expiration 1,483 1,482 Total operating loss carryforwards $ 1,525 $ 1,523 Tax credit carryforwards Expire within 5 years $ 10 $ 10 Expire after 5 years or indefinite expiration 155 275 Total tax credit carryforwards $ 165 $ 285 Total Operating Loss and Tax Credit Carryforwards $ 1,690 $ 1,808 |
Total Gross Unrecognized Tax Benefits | Total Gross Unrecognized Tax Benefits Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 Year Ended 2016 Year Ended 2015 (In millions) Total unrecognized tax benefits as of beginning of period $ 436 $ 348 $ 558 $ 735 Decreases related to positions taken on items from prior years (2 ) (19 ) (41 ) (98 ) Increases related to positions taken on items from prior years 9 3 32 13 Increases related to positions taken in the current year 19 19 32 32 Settlement of uncertain tax positions with tax authorities 1 (6 ) (205 ) (58 ) Decreases due to expiration of statutes of limitations (5 ) (81 ) (30 ) (30 ) Exchange loss (gain) 1 1 2 (36 ) Total unrecognized tax benefits as of end of period $ 459 $ 265 $ 348 $ 558 Total unrecognized tax benefits that, if recognized, would impact the effective tax rate $ 76 $ 188 $ 253 $ 386 Total amount of interest and penalties (benefit) recognized in Provision for income taxes on continuing operations $ 1 $ (27 ) $ 10 $ (14 ) Total accrual for interest and penalties associated with unrecognized tax benefits $ 25 $ 22 $ 71 $ 88 |
Tax Year Subject to Examination | Tax Years Subject to Examination by Major Tax Jurisdiction at Dec 31, Earliest Open Year Jurisdiction Brazil 2012 Canada 2011 China 2014 Denmark 2003 Germany 2006 India 2001 The Netherlands 2014 Switzerland 2012 United States: Federal income tax 2012 State and local income tax 2004 |
Earnings Per Share of Common 39
Earnings Per Share of Common Stock (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share of Common Stock Reconciliation | Predecessor (In millions, except share amounts) For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Numerator: Income from continuing operations after income taxes attributable to DuPont $ 1,624 $ 2,072 $ 1,443 Preferred dividends (7 ) (10 ) (10 ) Income from continuing operations after income taxes available to DuPont common stockholders $ 1,617 $ 2,062 $ 1,433 Income from discontinued operations after income taxes available to DuPont common stockholders 117 441 510 Net income available to common stockholders $ 1,734 $ 2,503 $ 1,943 Denominator: Weighted-average number of common shares outstanding - Basic 867,888,000 872,560,000 893,992,000 Dilutive effect of the company’s employee compensation plans 1 4,532,000 4,476,000 5,535,000 Weighted-average number of common shares outstanding - Diluted 1 872,420,000 877,036,000 899,527,000 1. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Predecessor For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Average number of stock options 1,906 4,794,000 4,715,000 |
Accounts and Notes Receivable40
Accounts and Notes Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Schedule of Accounts and Notes Receivable | Successor Predecessor (In millions) December 31, December 31, Accounts receivable – trade 1 $ 3,777 $ 3,601 Notes receivable – trade 2 199 206 Other 3 1,263 1,152 Total accounts and notes receivable - net $ 5,239 $ 4,959 1. Accounts receivable – trade is net of allowances of $10 million at December 31, 2017 and $287 million at December 31, 2016. Allowances are equal to the estimated uncollectible amounts. That estimate is based on historical collection experience, current economic and market conditions, and review of the current status of customers' accounts. 2. Notes receivable – trade primarily consists of receivables within the agriculture product line for deferred payment loan programs for the sale of seed products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2017 and 2016, there were no significant past due notes receivable, nor were there any significant impairments related to current loan agreements. 3. Other includes receivables in relation to fair value of derivative instruments, indemnification assets, value added tax, general sales tax and other taxes. No individual group represents more than ten percent of total receivables. |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Inventory, Net [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Successor Predecessor (In millions) December 31, December 31, Finished products $ 4,500 $ 2,961 Semi-finished products 2,769 1,877 Raw materials 371 292 Stores and supplies 447 398 Total $ 8,087 $ 5,528 Adjustment of inventories to a LIFO basis 546 (178 ) Total inventories $ 8,633 $ 5,350 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Land and land improvements $ 913 $ 501 Buildings 2,747 4,224 Machinery and equipment 8,104 16,909 Construction in progress 1,114 1,381 Total property, plant and equipment 12,878 23,015 Accumulated depreciation (443 ) (14,164 ) Total property, plant and equipment - net $ 12,435 $ 8,851 |
Property, Plant and Equipment - Depreciation Expense [Table Text Block] | Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Depreciation expense $ 426 $ 589 $ 907 $ 948 |
Goodwill and Other Intangible43
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Asset Disclosure [Abstract] | |
Schedule of Goodwill | (In millions) Balance as of December 31, 2015 ( Predecessor ) $ 4,238 Currency Translation Adjustment (68 ) Other Goodwill Adjustments and Acquisitions (1 ) Balance as of December 31, 2016 ( Predecessor ) 4,169 Currency Translation Adjustment 176 Other Goodwill Adjustments and Acquisitions 198 Balance as of August 31, 2017 ( Predecessor ) $ 4,543 Balance at September 1, 2017 ( Successor ) $ 45,105 Currency Translation Adjustment (234 ) Goodwill Recognized for H&N Acquisition 718 Balance as of December 31, 2017 ( Successor ) $ 45,589 |
Other Intangible Assets | Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets subject to amortization (Definite-lived): Customer-related $ 9,502 $ (186 ) $ 9,316 $ 1,574 $ (586 ) $ 988 Developed technology 4,364 (144 ) 4,220 1,410 (838 ) 572 Trademarks/trade names 1,117 (26 ) 1,091 53 (15 ) 38 Favorable supply contracts 1 495 (17 ) 478 Microbial cell factories 2 397 (6 ) 391 Other 3 459 (10 ) 449 171 (82 ) 89 Total other intangible assets with finite lives 16,334 (389 ) 15,945 3,208 (1,521 ) 1,687 Intangible assets not subject to amortization (Indefinite-lived): In-process research and development ("IPR&D") 660 — 660 73 — 73 Microbial cell factories 2 306 — 306 Germplasm 4 6,265 — 6,265 1,053 — 1,053 Trademarks / trade names 4,856 — 4,856 545 — 545 Total other intangible assets 11,781 — 11,781 1,977 — 1,977 Total $ 28,115 $ (389 ) $ 27,726 $ 5,185 $ (1,521 ) $ 3,664 1. Upon closing and pursuant to the terms of the FMC Transaction Agreement, DuPont entered into favorable supply contracts with FMC. DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 3 and 4 for additional information. 2. Microbial cell factories, derived from natural microbes, are used to sustainably produce enzymes, peptides and chemicals using natural metabolic processes. The company recognized the microbial cell factories as intangible assets upon the acquisition of Danisco. As a result of the valuation as part of the Merger, it was determined that this intangible asset now has a definite life and therefore it has been moved from indefinite-lived to definite-lived as of September 1, 2017. 3. Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements. 4. Pioneer germplasm is the pool of genetic source material and body of knowledge gained from the development and delivery stage of plant breeding. The company recognized germplasm as an intangible asset upon the acquisition of Pioneer. This intangible asset is expected to contribute to cash flows beyond the foreseeable future and there are no legal, regulatory, contractual, or other factors which limit its useful life. |
Schedule of Acquired Intangible Assets | Intangible Assets Gross Carrying Amount Weighted-average Amortization Period (years) (In millions) Intangible assets with finite lives: Customer-related $ 9,264 17 Developed technology 4,239 12 Trademarks/trade names 1,080 15 Microbial cell factories 400 23 Other 453 17 Total other intangible assets with finite lives $ 15,436 Intangible assets with indefinite lives: IPR&D $ 660 Germplasm 6,263 Trademarks/trade names 4,862 Total intangible assets $ 27,221 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | (In millions) 2018 $ 1,266 2019 $ 1,254 2020 $ 1,244 2021 $ 1,228 2022 $ 1,221 |
Short-Term Borrowings, Long-T44
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings and Capital Lease Obligations | Short-term borrowings and capital lease obligations Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Commercial paper $ 1,436 $ 386 Other loans - various currencies 28 39 Long-term debt payable within one year 1,315 4 Total short-term borrowings and capital lease obligations $ 2,779 $ 429 |
Long-Term Debt | Long Term Debt Successor 1 Predecessor December 31, 2017 December 31, 2016 (In millions) Amount Weighted Average Rate Amount Promissory notes and debentures: Final maturity 2018 $ 1,280 1.59 % $ 1,290 Final maturity 2019 521 2.23 % 500 Final maturity 2020 3,070 1.79 % 999 Final maturity 2021 1,580 2.07 % 1,498 Final maturity 2023 and thereafter 3,492 3.32 % 3,188 Other facilities: Term loan due 2019 1,500 2.35 % 500 Other loans 18 4.32 % 22 Foreign currency loans, various rates and maturities 30 2.85 % 29 Medium-term notes, varying maturities through 2043 110 1.22 % 111 Capital lease obligations 5 9 Less: Unamortized debt discount and issuance costs — 35 Less: Long-term debt due within one year 1,315 4 Total $ 10,291 $ 8,107 1. The Successor period includes the reflection of debt at fair value at the date of the Merger. See Note 3 for additional information regarding the Merger. |
Maturities of Long-term Debt | Maturities of Long-Term Debt For Next Five Years 1 (In millions) 2018 $ 1,286 2019 $ 2,005 2020 $ 3,005 2021 $ 1,505 2022 $ 2 |
Committed and Available Credit Facilities | Committed and Available Credit Facilities at December 31, 2017 (Successor) (In millions) Effective Date Committed Credit Credit Available Maturity Date Interest Revolving Credit Facility March 2016 $ 3,000 $ 2,950 May 2019 Floating Rate Term Loan Facility March 2016 4,500 3,000 March 2019 Floating Rate Total Committed and Available Credit Facilities $ 7,500 $ 5,950 |
Commitments and Contingent Li45
Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Guarantor Obligations [Table Text Block] | Guarantees at December 31, 2017 (Successor) Final Expiration Maximum Future Payments (In millions) Obligations for customers and suppliers 1 : Bank borrowings 2022 $ 89 Obligations for non-consolidated affiliates 2 : Bank borrowings 2018 161 Obligations for Chemours 3 : Chemours' purchase obligations 2018 10 Residual value guarantees 4 2029 37 Total guarantees $ 297 1. Existing guarantees for customers and suppliers, as part of contractual agreements. 2. Existing guarantees for non-consolidated affiliates' liquidity needs in normal operations. 3. Guarantee for Chemours' raw material purchase obligations under agreement with third party supplier. 4. The company provides guarantees related to leased assets specifying the residual value that will be available to the lessor at lease termination through sale of the assets to the lessee or third parties. |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Reconciliation of Common Stock Share Activity | Shares of common stock Issued Held In Treasury Balance January 1, 2015 (Predecessor) 992,020,000 (87,041,000 ) Issued 5,932,000 — Repurchased — (39,564,000 ) Retired (39,564,000 ) 39,564,000 Balance December 31, 2015 (Predecessor) 958,388,000 (87,041,000 ) Issued 4,808,000 — Repurchased — (13,152,000 ) Retired (13,152,000 ) 13,152,000 Balance December 31, 2016 (Predecessor) 950,044,000 (87,041,000 ) Issued 5,335,000 — Retired (87,041,000 ) 87,041,000 Balance August 31, 2017 (Predecessor) 868,338,000 — Balance September 1 and December 31, 2017 (Successor) 1 100 — 1. All of the company's issued and outstanding common stock at September 1, 2017 is held by the DowDuPont Inc. |
Other Comprehensive Income (Loss) | (In millions) Cumulative Translation Adjustment 1 Derivative Instruments Pension Benefit Plans 2 Other Benefit Plans Unrealized Gain (Loss) on Investments Total 2015 Balance January 1, 2015 (Predecessor) $ (919 ) $ (6 ) $ (7,895 ) $ 262 $ 2 $ (8,556 ) Other comprehensive (loss) income before reclassifications (1,605 ) (25 ) 39 3 (17 ) (1,605 ) Amounts reclassified from accumulated other comprehensive income (loss) — 7 535 (243 ) (2 ) 297 Net other comprehensive (loss) income (1,605 ) (18 ) 574 (240 ) (19 ) (1,308 ) Spin-off of Chemours $ 191 $ — $ 278 $ — $ (1 ) $ 468 Balance December 31, 2015 (Predecessor) $ (2,333 ) $ (24 ) $ (7,043 ) $ 22 $ (18 ) $ (9,396 ) 2016 Other comprehensive (loss) income before reclassifications (510 ) 20 (271 ) (81 ) (8 ) (850 ) Amounts reclassified from accumulated other comprehensive income (loss) — 11 594 (298 ) 28 335 Net other comprehensive (loss) income (510 ) 31 323 (379 ) 20 (515 ) Balance December 31, 2016 (Predecessor) $ (2,843 ) $ 7 $ (6,720 ) $ (357 ) $ 2 $ (9,911 ) 2017 Other comprehensive income (loss) before reclassifications 1,042 3 (78 ) — 1 968 Amounts reclassified from accumulated other comprehensive income (loss) — (13 ) 325 10 (1 ) 321 Net other comprehensive income (loss) 1,042 (10 ) 247 10 — 1,289 Balance August 31, 2017 (Predecessor) $ (1,801 ) $ (3 ) $ (6,473 ) $ (347 ) $ 2 $ (8,622 ) Balance September 1, 2017 (Successor) 3 $ — $ — $ — $ — $ — $ — Other comprehensive income (loss) before reclassifications (454 ) (2 ) 128 (53 ) — (381 ) Amounts reclassified from accumulated other comprehensive income (loss) — — — — — — Net other comprehensive (loss) income (454 ) (2 ) 128 (53 ) — (381 ) Balance December 31, 2017 (Successor) $ (454 ) $ (2 ) $ 128 $ (53 ) $ — $ (381 ) 1. The cumulative translation adjustment loss for the period September 1 through December 31, 2017 is primarily driven by the strengthening of the U.S dollar (USD) against the European Euro (EUR) and the Brazilian real (BRL). The cumulative translation adjustment gain for the period January 1 through August 31, 2017 is primarily driven by the weakening of the USD against the EUR. The currency translation loss for the year ended December 31, 2016 is primarily driven by the strengthening of the USD against the EUR partially offset by the weakening of the USD against the BRL. The currency translation loss for the year ended December 31, 2015 is driven by the strengthening USD against primarily the EUR and BRL. 2. The Pension Benefit Plans loss recognized in other comprehensive (loss) income during the year ended December 31, 2016 includes the impact of the remeasurement of the principal U.S. pension plan as of June 30, 2016. See Note 16 for additional information. 3. In connection with the Merger, balances in accumulated other comprehensive loss at Merger Effectiveness Time were eliminated as a result of reflecting the balance sheet at fair value as of the date of the Merger. See Note 3 and 16 for further information regarding the Merger and pension and OPEB plans, respectively. The tax (expense) benefit on the net activity related to each component of other comprehensive income (loss) were as follows: Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Derivative instruments $ 1 $ 6 $ (19 ) $ 7 Pension benefit plans - net (37 ) (145 ) (163 ) (317 ) Other benefit plans - net 15 (5 ) 194 135 (Provision for) benefit from income taxes related to other comprehensive income (loss) items $ (21 ) $ (144 ) $ 12 $ (175 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Successor Predecessor Income Classification (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Derivative Instruments: $ — $ (21 ) $ 18 $ 12 (1) Tax expense (benefit) — 8 (7 ) (5 ) (2) After-tax $ — $ (13 ) $ 11 $ 7 Amortization of pension benefit plans: Prior service benefit — (3 ) (6 ) (9 ) (3) Actuarial losses — 506 822 768 (3) Curtailment gain (loss) — — 40 (6 ) (3) Settlement loss — — 62 76 (3) Total before tax $ — $ 503 $ 918 $ 829 Tax benefit — (178 ) (324 ) (294 ) (2) After-tax $ — $ 325 $ 594 $ 535 Amortization of other benefit plans: Prior service benefit — (46 ) (134 ) (182 ) (3) Actuarial losses — 61 78 78 (3) Curtailment gain — — (392 ) (274 ) (3) Total before tax $ — $ 15 $ (448 ) $ (378 ) Tax (benefit) expense — (5 ) 150 135 (2) After-tax $ — $ 10 $ (298 ) $ (243 ) Net realized (losses) gains on investments, before tax: — (1 ) 28 (2 ) (4) Tax expense — — — — (2) After-tax $ — $ (1 ) $ 28 $ (2 ) Total reclassifications for the period, after-tax $ — $ 321 $ 335 $ 297 1. Cost of goods sold. 2. Provision for income taxes from continuing operations. 3. These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost of the company's pension and other benefit plans. See Note 16 for additional information. 4. Sundry income - net. |
Pension Plans and Other Post 47
Pension Plans and Other Post Employment Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |
Schedule of Assumptions Used [Table Text Block] | The weighted-average assumptions used to determine benefit obligations for OPEB plans are summarized in the table below: Weighted-Average Assumptions used to Determine Benefit Obligations Successor Predecessor December 31, 2017 December 31, 2016 Discount rate 3.56 % 4.03 % The weighted-average assumptions used to determine net periodic benefit costs for the OPEB plans are summarized in the two tables below: Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Discount rate 3.62 % 4.03 % 3.87 % 4.13 % Assumed Health Care Cost Trend Rates Successor Predecessor December 31, 2017 December 31, 2016 Health care cost trend rate assumed for next year 6.40 % 7.00 % Rate to which the cost trend rate is assumed to decline (the ultimate health care trend rate) 5.00 % 5.00 % Year that the rate reached the ultimate health care cost trend rate 2023 2023 The weighted-average assumptions used to determine pension plan obligations for all pension plans are summarized in the table below: Weighted-Average Assumptions used to Determine Benefit Obligations Successor Predecessor December 31, 2017 December 31, 2016 Discount rate 3.37 % 3.80 % Rate of increase in future compensation levels 1 4.04 % 3.80 % 1. The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant's entire career at the company. The weighted-average assumptions used to determine net periodic benefit costs for all pension plans are summarized in the two tables below: Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Discount rate 3.42 % 3.80 % 3.77 % 3.93 % Rate of increase in future compensation levels 3.80 % 3.80 % 3.96 % 4.01 % Expected long-term rate of return on plan assets 6.24 % 7.66 % 7.74 % 8.10 % The weighted-average assumptions used to determine net periodic benefit costs for U.S. plans are summarized in the table below: Weighted- Average Assumptions used to Determine Net Periodic Benefit Cost Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Discount rate 3.73 % 4.16 % 4.04 % 4.29 % Rate of increase in future compensation levels 3.95 % 3.95 % 4.15 % 4.20 % Expected long-term rate of return on plan assets 6.25 % 8.00 % 8.00 % 8.50 % |
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | Pension Plans with Projected Benefit Obligations in Excess of Plan Assets Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Projected benefit obligations $ 25,254 $ 24,779 Accumulated benefit obligations 24,864 24,297 Fair value of plan assets 19,941 16,601 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Projected benefit obligations $ 24,625 $ 23,946 Accumulated benefit obligations 24,315 23,591 Fair value of plan assets 19,335 15,838 |
Schedule of Net Benefit Costs [Table Text Block] | Defined Benefit Pension Plans Other Post Employment Benefits (In millions) Successor Predecessor Successor Predecessor Components of net periodic benefit cost (credit) and amounts recognized in other comprehensive loss For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Net Periodic Benefit Cost: Service cost $ 49 $ 92 $ 174 $ 232 $ 3 $ 6 $ 11 $ 15 Interest cost 247 524 800 1,084 26 60 87 112 Expected return on plan assets (407 ) (824 ) (1,320 ) (1,554 ) — — — — Amortization of unrecognized loss — 506 822 768 — 61 78 78 Amortization of prior service benefit — (3 ) (6 ) (9 ) — (46 ) (134 ) (182 ) Curtailment loss (gain) — — 40 (6 ) — — (392 ) (274 ) Settlement loss — — 62 76 — — — — Net periodic (credit) benefit cost - Total $ (111 ) $ 295 $ 572 $ 591 $ 29 $ 81 $ (350 ) $ (251 ) Less: Discontinued operations 1 3 — — — — — (272 ) Net periodic (credit) benefit cost - Continuing operations $ (112 ) $ 292 $ 572 $ 591 $ 29 $ 81 $ (350 ) $ 21 Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss: Net (gain) loss $ (165 ) $ (22 ) $ 570 $ 57 $ 68 $ — $ 153 $ (4 ) Amortization of unrecognized loss — (506 ) (822 ) (768 ) — (61 ) (78 ) (78 ) Prior service benefit — — — — — — (28 ) — Amortization of prior service benefit — 3 6 9 — 46 134 182 Curtailment (loss) gain — — (40 ) 6 — — 392 274 Settlement loss — — (62 ) (76 ) — — — — Effect of foreign exchange rates — 133 (138 ) (119 ) — — — 1 Spin-off of Chemours — — — (382 ) — — — — Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont $ (165 ) $ (392 ) $ (486 ) $ (1,273 ) $ 68 $ (15 ) $ 573 $ 375 Total recognized in net periodic benefit cost and other comprehensive (income) loss $ (276 ) $ (97 ) $ 86 $ (682 ) $ 97 $ 66 $ 223 $ 124 |
Schedule of Expected Benefit Payments [Table Text Block] | Estimated Future Benefit Payments at December 31, 2017 (Successor) Defined Benefit Pension Plans Other Post Employment Benefits (In millions) 2018 $ 1,636 $ 250 2019 1,614 243 2020 1,600 236 2021 1,587 227 2022 1,568 218 Years 2023-2027 7,533 906 Total 15,538 2,080 |
Schedule of Allocation of Plan Assets [Table Text Block] | Target Allocation for Plan Assets Successor Predecessor Asset Category December 31, 2017 December 31, 2016 U.S. equity securities 17 % 27 % Non-U.S. equity securities 18 24 Fixed income securities 50 33 Hedge funds 2 2 Private market securities 8 8 Real estate 3 4 Cash and cash equivalents 2 2 Total 100 % 100 % Basis of Fair Value Measurements For the year ended December 31, 2017 (Successor) (In millions) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 3,057 $ 3,057 $ — $ — U.S. equity securities 1 4,043 4,012 14 17 Non-U.S. equity securities 3,064 2,866 195 3 Debt – government-issued 3,263 497 2,766 — Debt – corporate-issued 3,181 270 2,884 27 Debt – asset-backed 706 17 687 2 Hedge funds 85 — 83 2 Private market securities 14 — — 14 Real estate 342 239 7 96 Derivatives – asset position 24 3 21 — Derivatives – liability position (16 ) — (16 ) — Other 2 — 2 — Subtotal $ 17,765 $ 10,961 $ 6,643 $ 161 Investments measured at net asset value Hedge funds 747 Private market securities 1,383 Real estate funds 437 Total investments measured at net asset value $ 2,567 Other items to reconcile to fair value of plan assets Pension trust receivables 2 127 Pension trust payables 3 (175 ) Total $ 20,284 1. The DuPont pension plans directly held $910 million ( 4 percent of total plan assets) of DowDuPont common stock at December 31, 2017. 2. Primarily receivables for investments securities sold. 3. Primarily payables for investment securities purchased Basis of Fair Value Measurements For the year ended December 31, 2016 (Predecessor) (In millions) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,505 $ 1,480 $ 25 $ — U.S. equity securities 1 4,071 4,033 20 18 Non-U.S. equity securities 3,278 3,126 151 1 Debt – government-issued 2,067 864 1,203 — Debt – corporate-issued 2,475 273 2,163 39 Debt – asset-backed 721 39 682 — Hedge funds 1 — 1 — Private market securities 67 — 25 42 Real estate 275 175 2 98 Derivatives – asset position 53 7 46 — Derivatives – liability position (47 ) — (47 ) — Other 4 — 4 — Subtotal $ 14,470 $ 9,997 $ 4,275 $ 198 Investments measured at net asset value Hedge funds 434 Private market securities 1,416 Real estate funds 444 Total investments measured at net asset value $ 2,294 Other items to reconcile to fair value of plan assets Pension trust receivables 2 264 Pension trust payables 3 (372 ) Total $ 16,656 1. The DuPont pension plans directly held $732 million ( 4 percent of total plan assets) of DuPont common stock at December 31, 2016. 2. Primarily receivables for investments securities sold. 3. Primarily payables for investment securities purchased. |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | Fair Value Measurement of Level 3 Pension Plan Assets U.S. equity securities Non-U.S. equity securities Debt – corporate-issued Debt- asset- backed Hedge funds Private market securities Real estate Total (In millions) Predecessor Balance at January 1, 2016 $ 20 $ 2 $ 34 $ 1 $ — $ 37 $ 144 $ 238 Actual return on assets: Relating to assets sold during the year ended December 31, 2016 (3 ) — (25 ) — — — — (28 ) Relating to assets held at December 31, 2016 1 (1 ) 27 — — 2 (10 ) 19 Purchases, sales and settlements, net — — (3 ) (1 ) — 3 (36 ) (37 ) Transfers in Level 3, net — — 6 — — — — 6 Balance at December 31, 2016 $ 18 $ 1 $ 39 $ — $ — $ 42 $ 98 $ 198 Actual return on assets: Relating to assets sold during the period January 1 through August 31, 2017 (1 ) 2 (20 ) — — — — (19 ) Relating to assets held at August 31, 2017 (7 ) (2 ) 22 — — (5 ) 7 15 Purchases, sales and settlements, net 6 1 (1 ) — — 1 (7 ) — Transfers in (out) of Level 3, net — — 6 2 — (21 ) — (13 ) Balance at August 31, 2017 $ 16 $ 2 $ 46 $ 2 $ — $ 17 $ 98 $ 181 Successor Balance at September 1, 2017 $ 16 $ 2 $ 46 $ 2 $ — $ 17 $ 98 $ 181 Actual return on assets: Relating to assets sold during the period September 1 through December 31, 2017 — — (3 ) — — — — (3 ) Relating to assets held at December 31, 2017 1 (1 ) 5 — — (3 ) 4 6 Purchases, sales and settlements, net — 2 (21 ) — 2 — (6 ) (23 ) Balance at December 31, 2017 $ 17 $ 3 $ 27 $ 2 $ 2 $ 14 $ 96 $ 161 |
Schedule of Pension Plans and Other Postemployment Benefits [Table Text Block] | Change in Projected Benefit Obligations, Plan Assets and Funded Status Defined Benefit Pension Plans Other Post Employment Benefits Successor Predecessor Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 1 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Period September 1 through December 31, 2017 1 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 Change in benefit obligations: Benefit obligation at beginning of the period $ 26,036 $ 24,831 $ 26,094 $ 2,772 $ 2,829 $ 2,758 Service cost 49 92 174 3 6 11 Interest cost 247 524 800 26 60 87 Plan participants' contributions 6 8 18 12 26 36 Actuarial (gain) loss (23 ) — 460 68 — 153 Benefits paid 2 (730 ) (1,118 ) (2,374 ) (71 ) (192 ) (254 ) Plan amendments — — — — — (28 ) Net effects of acquisitions / divestitures / other 22 — 7 — — 65 Effect of foreign exchange rates (57 ) 429 (348 ) — 2 1 Benefit obligations at end of the period $ 25,550 $ 24,766 $ 24,831 $ 2,810 $ 2,731 $ 2,829 Change in plan assets: Fair value of plan assets at beginning of the period $ 20,395 $ 16,656 $ 17,497 $ — $ — $ — Actual return on plan assets 549 846 1,219 — — — Employer contributions 68 3,024 535 59 166 218 Plan participants' contributions 6 8 18 12 26 36 Benefits paid 2 (730 ) (1,118 ) (2,374 ) (71 ) (192 ) (254 ) Net effects of acquisitions / divestitures / other 29 — — — — — Effect of foreign exchange rates (33 ) 269 (239 ) — — — Fair value of plan assets at end of the period $ 20,284 $ 19,685 $ 16,656 $ — $ — $ — Funded status U.S. plan with plan assets $ (3,628 ) $ (3,277 ) $ (6,391 ) $ — $ — $ — Non-U.S. plans with plan assets (447 ) (609 ) (674 ) — — — All other plans 3, 4 (1,191 ) (1,187 ) (1,102 ) (2,810 ) (2,731 ) (2,829 ) Plans of discontinued operations — (8 ) (8 ) — — — Funded status at end of the period $ (5,266 ) $ (5,081 ) $ (8,175 ) $ (2,810 ) $ (2,731 ) $ (2,829 ) 1. The benefit obligation and the fair value of plan assets at the beginning of the period September 1 through December 31, 2017, reflects the remeasurement of the plans at the Merger Effectiveness Time. 2. In the fourth quarter of 2016, about $550 million of lump-sum payments were made from the principal U.S. pension plan trust fund to a group of separated, vested plan participants who were extended a limited-time opportunity and voluntarily elected to receive their pension benefits in a single lump-sum payment. In the fourth quarter of 2017, about $140 million of lump-sum payments were made from the principal U.S. pension plan trust fund under a similar program. 3. As of December 31, 2017, $389 million of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below. 4. Includes pension plans maintained around the world where funding is not customary. Defined Benefit Pension Plans Other Post Employment Benefits (In millions) Successor Predecessor Successor Predecessor December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Amounts recognized in the Consolidated Balance Sheets: Other Assets $ 47 $ 3 $ — $ — Accrued and other current liabilities (86 ) (78 ) (250 ) (275 ) Liabilities held for sale - current — (8 ) — — Pension and other post employment benefits - noncurrent 1 (5,227 ) (2,560 ) Other noncurrent obligations 1 — (8,092 ) — (2,554 ) Net amount recognized $ (5,266 ) $ (8,175 ) $ (2,810 ) $ (2,829 ) Pretax amounts recognized in accumulated other comprehensive (income) loss: Net (gain) loss $ (165 ) $ 10,280 $ 68 $ 830 Prior service benefit — (17 ) — (281 ) Pretax balance in accumulated other comprehensive (income) loss at end of year $ (165 ) $ 10,263 $ 68 $ 549 1. In the Successor Period, non-current pension and OPEB liabilities are included within pension and other post employment benefits - noncurrent in the Consolidated Balance Sheets. In the Predecessor period, these liabilities are included within other noncurrent obligations. (In millions) Successor Predecessor December 31, 2017 December 31, 2016 Fair Value Unfunded Commitments Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period Range Hedge funds 1 747 — 434 — Monthly, Quarterly Ranges from 15-45 days monthly, 10-185 days quarterly Private market securities 2 1,383 797 1,416 693 Not applicable Not applicable Real estate funds 2 437 371 444 244 Not applicable Not applicable Total $ 2,567 $ 1,168 $ 2,294 $ 937 1. Less than 5 percent of hedge funds have gates in place at the investor level for year-end redemptions. Hedge funds also contain either no lock up or a lock up period of less than 1 year . 2. The remaining life of private market securities and real estate funds is an average of 15 years per investment. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Weighted Average Assumptions - Stock Option Awards | Weighted-Average Assumptions Successor Predecessor For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Dividend yield 2.2 % 2.0 % 2.6 % 2.5 % Expected volatility 23.59 % 23.21 % 28.27 % 22.52 % Risk-free interest rate 2.1 % 2.3 % 1.8 % 1.4 % Expected life of stock options granted during period (years) 7.2 7.2 7.2 5.3 |
Stock Option Activity | Stock Options 2017 Number of Shares (in thousands) Weighted Average Exercise Price (per share) Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2017 (Predecessor) 15,696 $ 58.11 Granted 1,626 76.18 Exercised (4,356 ) 54.52 Forfeited/Expired (136 ) 60.93 Outstanding at August 31, 2017 1 12,830 $ 61.84 4.71 $ 283,365 Exercisable at August 31, 2017 8,441 $ 57.78 3.37 $ 220,716 Outstanding at September 1, 2017 (Successor) 1 16,447 $ 48.24 Granted 174 45.29 Exercised (702 ) 43.07 Forfeited/Expired (30 ) 54.83 Outstanding at December 31, 2017 15,889 $ 48.43 3.74 $ 362,088 Exercisable at December 31, 2017 10,881 $ 45.75 3.06 $ 277,163 1. As a result of the Merger, all previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock, as discussed above. As a result, the number of shares outstanding at September 1, 2017 represents the shares as of August 31, 2017 multiplied by the conversion factor. |
RSU and PSU Activity | 2017 Number of Shares (in thousands) Weighted Average Grant Date Fair Value (per share) Nonvested at December 31, 2016 (Predecessor) 3,390 $ 63.11 Granted 1,124 76.41 Vested (1,332 ) 63.08 Forfeited (104 ) 70.69 Nonvested at August 31, 2017 1 3,078 $ 67.53 Nonvested at September 1, 2017 (Successor) 1 3,948 $ 67.06 Granted 412 70.02 Vested (139 ) 67.67 Forfeited (23 ) 66.65 Nonvested at December 31, 2017 4,198 $ 68.28 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investments, All Other Investments [Abstract] | |
Notional Amounts of Derivatives | Notional Amounts Successor Predecessor (In millions) December 31, 2017 December 31, 2016 Derivatives designated as hedging instruments: Commodity contracts $ 587 $ 422 Derivatives not designated as hedging instruments: Foreign currency contracts 10,454 9,896 Commodity contracts 6 7 |
After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | Successor Predecessor (In millions) For the Period For the Period Year Ended December 31, 2016 Beginning balance $ — $ 7 $ (24 ) Additions and revaluations of derivatives designated as cash flow hedges (2 ) 3 20 Clearance of hedge results to earnings — (13 ) 11 Ending balance $ (2 ) $ (3 ) $ 7 |
Fair Value of Derivatives Instruments | Successor December 31, 2017 (In millions) Balance Sheet Location Gross Counterparty and Cash Collateral Netting 1 Net Amounts Included in the Condensed Consolidated Balance Sheet Asset derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets $ 46 $ (37 ) $ 9 Total asset derivatives $ 46 $ (37 ) $ 9 Liability derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts Accrued and other current liabilities $ 79 $ (32 ) $ 47 Total liability derivatives $ 79 $ (32 ) $ 47 1. Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty. The company held cash collateral of $5 million as of December 31, 2017. Predecessor (In millions) Balance Sheet Location December 31, 2016 Asset derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts 1 Accounts and notes receivable - net $ 182 Total asset derivatives 2 $ 182 Cash collateral 1 Accrued and other current liabilities $ 52 Liability derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts Accrued and other current liabilities $ 121 Total liability derivatives 2 $ 121 1. Cash collateral held as of December 31, 2016 is related to foreign currency derivatives not designated as hedging instruments. 2. The company's derivative assets and liabilities subject to enforceable master netting arrangements totaled $114 million at December 31, 2016. |
Effect of Derivative Instruments | Amount of Gain (Loss) Recognized in OCI 1 (Effective Portion) - Pre Tax Successor Predecessor (In millions) For the Period For the Period Year Ended December 31, 2016 Year Ended December 31, 2015 Derivatives designated as hedging instruments: Cash flow hedges: Foreign currency contracts $ — — — (2 ) Commodity contracts 3 5 32 (35 ) Total derivatives designated as hedging instruments $ 3 $ 5 $ 32 $ (37 ) Total derivatives $ 3 $ 5 $ 32 $ (37 ) 1. OCI is defined as other comprehensive income (loss). Amount of Gain (Loss) Recognized in Income - Pre Tax 1 Successor Predecessor (In millions) For the Period For the Period Year Ended December 31, 2016 Year Ended December 31, 2015 Derivatives designated as hedging instruments: Fair value hedges: Interest rate swaps 2 $ — $ — $ — $ (1 ) Cash flow hedges: Foreign currency contracts 3 — — — 10 Commodity contracts 2 — 21 (18 ) (22 ) Total derivatives designated as hedging instruments $ — $ 21 $ (18 ) $ (13 ) Derivatives not designated as hedging instruments: Foreign currency contracts 4 91 (431 ) (304 ) 434 Foreign currency contracts 3 — — (12 ) (3 ) Commodity contracts 2 — 2 (11 ) (2 ) Total derivatives not designated as hedging instruments 91 (429 ) (327 ) 429 Total derivatives $ 91 $ (408 ) $ (345 ) $ 416 1. For cash flow hedges, this represents the effective portion of the gain (loss) reclassified from accumulated OCI into income during the period. There was no material ineffectiveness with regard to the company's cash flow hedges during the period. 2. Recorded in cost of goods sold. 3. Recorded in net sales. 4. Gain recognized in sundry income - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 6 for additional information. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities Measured on Recurring Basis | December 31, 2017 (Successor) Significant Other Observable Inputs (Level 2) (In millions) Assets at fair value: Cash equivalents 1 $ 5,205 Marketable securities $ 952 Derivatives relating to: 2 Foreign currency 46 Total assets at fair value $ 6,203 Liabilities at fair value: Long-term debt 3 $ 11,560 Derivatives relating to: 2 Foreign currency 79 Total liabilities at fair value $ 11,639 1. Time deposits included in "Cash and cash equivalents" and money market funds included in "Other current assets" in the consolidated balance sheets are held at amortized cost, which approximates fair value. 2. See Note 18 for the classification of derivatives in the consolidated balance sheets. 3. See Note 13 for information on fair value measurements of long-term debt. December 31, 2016 (Predecessor) Significant Other Observable Inputs (Level 2) (In millions) Assets at fair value: Cash equivalents 1 $ 2,713 Marketable securities $ 1,362 Derivatives relating to: 2 Foreign currency 182 Total assets at fair value $ 4,257 Liabilities at fair value: Long-term debt 3 $ 8,464 Derivatives relating to: 2 Foreign currency 121 Total liabilities at fair value $ 8,585 1. Time deposits included in "Cash and cash equivalents" and money market funds included in "Other current assets" in the consolidated balance sheets are held at amortized cost, which approximates fair value. 2. See Note 18 for the classification of derivatives in the consolidated balance sheets. 3. See Note 13 for information on fair value measurements of long-term debt. |
Geographic and Product Line I51
Geographic and Product Line Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Geographic Area, Revenues from External Customers [Abstract] | |
Net Sales by Geographic Area | Net Sales Successor Predecessor (In millions) Sept 1 - Dec 31, 2017 Jan 1 - Aug 31, 2017 Year Ended Dec 31, 2016 Year Ended Dec 31, 2015 United States $ 2,086 $ 7,535 $ 9,500 $ 9,812 Canada 139 583 669 692 EMEA 1 1,689 3,927 5,251 5,483 Asia Pacific 2 2,047 3,844 5,407 5,292 Latin America 1,092 1,392 2,382 2,378 Total $ 7,053 $ 17,281 $ 23,209 $ 23,657 1. Europe, Middle East, and Africa (EMEA). 2. Net sales for China in the Successor period were $818 million . |
Net Property By Geographic Area | Net Property Successor Predecessor (In millions) 2017 2016 2015 United States $ 7,708 $ 5,951 $ 6,458 Canada 170 124 128 EMEA 1 2,867 1,550 1,582 Asia Pacific 1,120 797 854 Latin America 570 429 392 Total $ 12,435 $ 8,851 $ 9,414 1. Europe, Middle East, and Africa (EMEA). |
Sales by Principal Product Group | Net Sales Successor Predecessor (In millions) For the Period September 1 through December 31, 2017 For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Agriculture $ 1,596 $ 6,894 $ 8,131 $ 8,327 Packaging and Specialty Plastics 544 1,072 1,651 1,715 Electronics and Imaging 743 1,422 1,960 2,070 Nutrition and Health 1,165 2,129 3,268 3,256 Industrial Biosciences 573 1,022 1,500 1,478 Transportation and Advanced Polymers 1,355 2,608 3,599 3,591 Safety and Construction 1,074 2,134 3,099 3,220 Other 3 — 1 — Total $ 7,053 $ 17,281 $ 23,209 $ 23,657 |
Quaterly Financial Data (Tables
Quaterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Data [Abstract] | |
Quarterly Financial Information | 2017 Predecessor Successor In millions, except per share amounts (unaudited) First Second July 1 - Aug 31 Sept 1 - Sept 30 Fourth Net sales $ 7,319 $ 6,971 $ 2,991 $ 1,735 $ 5,318 Cost of goods sold 4,209 4,021 1,975 1,511 2 4,654 2 Restructuring and asset related charges - net 1 152 160 11 40 140 Net income (loss) 1,121 3,4,5 869 3 (229 ) 3 (295 ) 1,3 1,305 1,3,6 Net income (loss) attributable to DuPont 1,113 862 (234 ) (293 ) 1,303 Earnings per common share, continuing operations - basic 9 1.35 0.82 (0.30 ) Earnings per common share, continuing operations - diluted 9 1.34 0.82 (0.30 ) 2016 Predecessor In millions, except per share amounts (unaudited) First Second Third Fourth Net sales $ 7,014 $ 6,646 $ 4,646 $ 4,903 Cost of goods sold 4,103 3,823 2,997 3,032 Restructuring and asset related charges - net 1 78 (88 ) 172 394 Net income (loss) 1,232 7,8 1,024 7 6 7 263 7 Net income (loss) attributable to DuPont 1,226 1,020 2 265 Earnings per common share, continuing operations - basic 9 1.23 1.03 (0.08 ) 0.19 Earnings per common share, continuing operations - diluted 9 1.22 1.02 (0.08 ) 0.19 1. See Note 5 for additional information. 2. Includes charges of $(360) million and $(1,109) million during the period September 1 - September 30, 2017 and the fourth quarter 2017, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business, which was included in cost of goods sold. See Note 3 for additional information. 3. Includes charges of $(170) million , $(201) million , $(210) million , $(71) million , and $(243) million in the first quarter 2017, second quarter 2017, the period July 1 - August 31, 2017, the period September 1 - September 30, 2017, and the fourth quarter 2017, respectively, related to transaction costs associated with the Merger. Predecessor costs are recorded in selling, general and administrative expenses; Successor costs are recoded in integration and separation costs. See Note 3 for additional information. 4. First quarter 2017 included a gain of $162 million recorded in sundry income - net associated with the sale of the company's global food safety diagnostic business. See Note 4 for additional information. 5. First quarter 2017 included a tax benefit of $53 million , as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. 6. Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to the Tax Cuts and Jobs Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. See Note 7 for additional information. 7. First, second, third and fourth quarter 2016 included charges of $(24) million , $(76) million , $(122) million , and $(164) million , respectively, recorded in selling, general and administrative expenses related to transaction costs associated with the Merger. See Note 3 for additional information. 8. First quarter 2016 included a gain of $369 million recorded in sundry income - net associated with the sale of the DuPont (Shenzhen) Manufacturing Limited entity, which held certain buildings and other assets. See Note 4 for additional information. 9. Due to quarterly changes in the share count and the allocation of income to participating securities, the sum of the four quarters may not equal the earnings per share amount calculated for the year. |
Summary of Significant Accoun53
Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | ||
Restricted Cash | $ 558 | |
Percentage of FIFO Inventory | 60.00% | |
Percentage of Weighted Average Cost Inventory | 30.00% | |
Percentage of LIFO Inventory | 10.00% | |
Successor [Member] | Minimum [Member] | ||
Definite-Lived Intangible Asset, Useful Life | 1 year | |
Successor [Member] | Maximum [Member] | ||
Definite-Lived Intangible Asset, Useful Life | 23 years | |
Predecessor [Member] | ||
Percentage of FIFO Inventory | 55.00% | |
Percentage of Weighted Average Cost Inventory | 30.00% | |
Percentage of LIFO Inventory | 15.00% |
Recent Accounting Guidance (Det
Recent Accounting Guidance (Details) - Accounting Standards Update 2016-09 [Member] - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Excess Tax Benefits Recognized | $ 2 | |||
Predecessor [Member] | ||||
Excess Tax Benefits Recognized | $ 30 | |||
Excess Tax Benefit from Share-based Compensation, Operating Activities | $ 27 | $ 74 | ||
Excess Tax Benefit from Share-based Compensation, Financing Activities | 27 | 74 | ||
Cash Flows from Operating Activities [Member] | Predecessor [Member] | ||||
Payments Related to Tax Withholding for Share-based Compensation | 30 | 32 | ||
Cash Flows from Financing Activities [Member] | Predecessor [Member] | ||||
Payments Related to Tax Withholding for Share-based Compensation | $ 30 | $ 32 |
Business Combinations Granular
Business Combinations Granular Acquisition (Details) $ in Millions | 8 Months Ended |
Aug. 31, 2017USD ($) | |
Predecessor [Member] | Granular Acquisition [Member] | |
Business Acquisition [Line Items] | |
Payments to Acquire Businesses, Gross | $ 250 |
Business Combinations Merger wi
Business Combinations Merger with Dow Narrative (Details) - USD ($) $ / shares in Units, $ in Millions | Aug. 31, 2017 | Sep. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Aug. 30, 2017 | |
Merger with Dow [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Business Combination, Consideration Transferred | $ 74,680 | |||||||||||||||
Equity Awards converted but not yet earned | 144 | |||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Inventory, Finished Goods | 4,929 | $ 4,929 | $ 4,929 | |||||||||||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Inventory, Semi-finished goods | 3,055 | 3,055 | 3,055 | |||||||||||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Raw Materials and stores and supplies | 823 | 823 | 823 | |||||||||||||
Property, plant and equipment | 11,941 | 11,941 | 11,941 | |||||||||||||
Goodwill | [1] | 45,105 | $ 45,105 | $ 45,105 | ||||||||||||
Deferred Taxes, Business Combination, Adjustment To Derecognize Valuation Allowance | 172 | |||||||||||||||
Deferred Taxes, Business Combination, Adjustment For Reinvestment Strategy | $ 546 | |||||||||||||||
DuPont [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.30 | |||||||||||||||
DuPont [Member] | $4.50 Series Preferred Stock [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | 4.50 | |||||||||||||||
DuPont [Member] | $3.50 Series Preferred Stock [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 3.50 | |||||||||||||||
DowDuPont [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||||||
Common Stock [Member] | Merger with Dow [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Share exchange ratio, DuPont to DowDuPont | 1.2820 | |||||||||||||||
Machinery and Equipment [Member] | Merger with Dow [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Property, plant and equipment | $ 7,466 | $ 7,466 | $ 7,466 | |||||||||||||
Building [Member] | Merger with Dow [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Property, plant and equipment | 2,583 | 2,583 | 2,583 | |||||||||||||
Construction in Progress [Member] | Merger with Dow [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Property, plant and equipment | 980 | 980 | 980 | |||||||||||||
Land and Land Improvements [Member] | Merger with Dow [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Property, plant and equipment | 912 | 912 | 912 | |||||||||||||
Successor [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.30 | $ 0.30 | ||||||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 360 | $ 1,109 | $ 1,469 | |||||||||||||
Goodwill | 45,105 | 45,105 | 45,589 | 45,589 | 45,105 | |||||||||||
Integration and Separation Costs | $ (71) | $ (243) | 314 | |||||||||||||
Successor [Member] | Merger with Dow [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory Recognized Including Discontinued Operations | 1,538 | |||||||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | 1,434 | |||||||||||||||
Disposal Group, Including Discontinued Operations, Fair Value Step-Up Of Acquired Inventory Recognized | $ 104 | |||||||||||||||
Predecessor [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.30 | $ 0.30 | ||||||||||||||
Goodwill | $ 4,543 | 4,543 | $ 4,169 | 4,543 | $ 4,169 | $ 4,238 | ||||||||||
Integration and Separation Costs | $ (201) | $ (170) | $ (164) | $ (122) | $ (76) | $ (24) | $ 581 | $ 386 | $ 10 | |||||||
Predecessor [Member] | Merger with Dow [Member] | ||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||
Integration and Separation Costs | $ (210) | |||||||||||||||
[1] | See Note 12 for additional information. |
Business Combinations Fair Valu
Business Combinations Fair Value of Consideration Exchanged (Details) - Merger with Dow [Member] $ / shares in Units, $ in Millions | Aug. 31, 2017USD ($)$ / sharesshares | |
Business Acquisition [Line Items] | ||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ | $ 485 | [1] |
Business Combination, Consideration Transferred | $ | $ 74,680 | |
Common Stock [Member] | ||
Business Acquisition [Line Items] | ||
Share exchange ratio, DuPont to DowDuPont | shares | 1.2820 | |
Common Stock [Member] | DuPont [Member] | ||
Business Acquisition [Line Items] | ||
Common Stock, Shares, Outstanding | shares | 868,300,000 | |
Common Stock [Member] | DowDuPont [Member] | ||
Business Acquisition [Line Items] | ||
Stock Issued During Period, Shares, New Issues | shares | 1,113,200,000 | |
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ | $ 74,195 | [2] |
Common Stock [Member] | Dow [Member] | ||
Business Acquisition [Line Items] | ||
Share Price | $ / shares | $ 66.65 | |
[1] | Represents the fair value of replacement awards issued for DuPont's equity awards outstanding immediately before the Merger and attributable to the service periods prior to the Merger. The previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock. | |
[2] | Amount was determined based on the price per share of Dow Common Stock of $66.65 on August 31, 2017. |
Business Combinations Fair Va58
Business Combinations Fair Value of Assets and Liabilities (Details) - Merger with Dow [Member] - USD ($) $ in Millions | 4 Months Ended | ||
Dec. 31, 2017 | Aug. 31, 2017 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | |||
Cash and Equivalents | $ 4,005 | ||
Marketable Securities | 2,849 | ||
Accounts and Notes Receivable | 7,851 | ||
Inventories | 8,807 | ||
Other current assets | 360 | ||
Inventory Measurement Period Adjustment | [1] | $ (79) | |
Investment in nonconsolidated affiliates | 1,654 | ||
Investment in nonconsolidated affiliates measurement period adjustments | [1] | (31) | |
Assets held for sale - current | 3,748 | ||
Assets held for sale - current measurement period adjustments | [1] | 564 | |
Property, plant and equipment | 11,941 | ||
Property, plant and equipment measurement period adjustments | [1] | (181) | |
Goodwill | [2] | 45,105 | |
Goodwill, Measurement Period Adjustments | [1],[2] | (396) | |
Other intangible assets | [2] | 27,221 | |
Other intangible assets measurement period adjustments | [1],[2] | (623) | |
Deferred income taxes | 284 | ||
Deferred income taxes, measurement period adjustments | [1] | (203) | |
Other assets | 2,076 | ||
Total assets | 115,901 | ||
Total assets, measurement period adjustments | [1] | (949) | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | |||
Short Term Borrowings and capital lease obligations | 5,319 | ||
Accounts Payable | 3,283 | ||
Income Taxes Payable | 140 | ||
Accrued and other current liabilities | 3,517 | ||
Liabilities Held For Sale Current | 115 | ||
Liabilities Held For Sale Current measurement period adjustments | [1] | 11 | |
Long-term Debt | 9,878 | ||
Deferred Tax Liabilities | 8,468 | ||
Deferred Tax Liabilities measurement period adjustments | [1] | (940) | |
Pension And Other Postretirement Benefits Noncurrent | 8,056 | ||
Pension And Other Postretirement Benefits Noncurrent measurement period adjustments | [1] | (36) | |
Other Noncurrent Obligations | 2,028 | ||
Total Liabilities | 40,804 | ||
Total liabilities measurement period adjustments | [1] | (965) | |
Noncontrolling interest | 178 | ||
Noncontrolling interest measurement period adjustments | [1] | $ 16 | |
Preferred Stock | 239 | ||
Fair value of net assets | 74,680 | ||
Scenario, Previously Reported [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | |||
Cash and Equivalents | [3] | 4,005 | |
Marketable Securities | [3] | 2,849 | |
Accounts and Notes Receivable | [3] | 7,851 | |
Inventories | [3] | 8,886 | |
Other current assets | [3] | 360 | |
Investment in nonconsolidated affiliates | [3] | 1,685 | |
Assets held for sale - current | [3] | 3,184 | |
Property, plant and equipment | [3] | 12,122 | |
Goodwill | [2],[3] | 45,501 | |
Other intangible assets | [2],[3] | 27,844 | |
Deferred income taxes | [3] | 487 | |
Other assets | [3] | 2,076 | |
Total assets | [3] | 116,850 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | |||
Short Term Borrowings and capital lease obligations | [3] | 5,319 | |
Accounts Payable | [3] | 3,283 | |
Income Taxes Payable | [3] | 140 | |
Accrued and other current liabilities | [3] | 3,517 | |
Liabilities Held For Sale Current | [3] | 104 | |
Long-term Debt | [3] | 9,878 | |
Deferred Tax Liabilities | [3] | 9,408 | |
Pension And Other Postretirement Benefits Noncurrent | [3] | 8,092 | |
Other Noncurrent Obligations | [3] | 2,028 | |
Total Liabilities | [3] | 41,769 | |
Noncontrolling interest | [3] | 162 | |
Preferred Stock | [3] | 239 | |
Fair value of net assets | [3] | $ 74,680 | |
[1] | DuPont recorded measurement period adjustments in the fourth quarter of 2017 to reflect facts and circumstances in existence as of the Merger Effectiveness Time. These measurement period adjustments primarily related to changes in preliminary valuation assumptions, including market participant estimates of cash flows and estimates of asset useful lives, as well as other initial estimates. All measurement period adjustments were offset against goodwill. | ||
[2] | See Note 12 for additional information. | ||
[3] | As previously reported in the company’s Quarterly Report on Form 10-Q for the period ended September 30, 2017. |
Business Combinations Summary o
Business Combinations Summary of H&N Business Consideration (Details) - Successor [Member] $ in Millions | Nov. 01, 2017USD ($) | |
H&N Business [Member] | ||
Business Acquisition [Line Items] | ||
Favorable Contracts | $ 495 | [1] |
Fair Value of H&N Business | 1,970 | |
Divested Ag Business [Member] | Discontinued Operations, Disposed of by Sale [Member] | ||
Business Acquisition [Line Items] | ||
Fair Value of Divested Ag Business | 3,665 | [2] |
Cash Received | $ 1,200 | |
[1] | Upon closing and pursuant to the terms of the FMC Transaction Agreement, DuPont entered into favorable supply contracts with FMC. DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 4 and 12 for additional information. | |
[2] | Refer to Note 4 for additional information. |
Business Combinations H&N Acqui
Business Combinations H&N Acquisition - Fair Value of Assets and Liabilities (Details) - Successor [Member] - USD ($) $ in Millions | Dec. 31, 2017 | Nov. 01, 2017 | Aug. 31, 2017 |
Business Acquisition [Line Items] | |||
Goodwill | $ 45,589 | $ 45,105 | |
H&N Business [Member] | |||
Business Acquisition [Line Items] | |||
Cash and Equivalents | $ 16 | ||
Accounts and Notes Receivable | 144 | ||
Inventories | 314 | ||
Property, plant and equipment | 505 | ||
Goodwill | 718 | ||
Other intangible assets | 435 | ||
Other current and non-current assets | 16 | ||
Total assets | 2,148 | ||
Accounts payable and other accrued liabilities | 70 | ||
Deferred Tax Liabilities | 108 | ||
Total Liabilities | 178 | ||
Fair value of net assets | $ 1,970 |
Business Combinations H&N Acq61
Business Combinations H&N Acquisition Narrative (Details) - Successor [Member] - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | ||
Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2017 | Nov. 01, 2017 | Aug. 31, 2017 | |
Business Acquisition [Line Items] | ||||||
Net Sales | $ 1,735 | $ 5,318 | $ 7,053 | |||
(Loss) Income from Continuing Operations before Income Taxes | (1,586) | |||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 360 | 1,109 | 1,469 | |||
Goodwill | $ 45,589 | $ 45,589 | $ 45,589 | $ 45,105 | ||
H&N Business [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Net Sales | 102 | |||||
(Loss) Income from Continuing Operations before Income Taxes | (12) | |||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Inventory, Finished Goods | $ 153 | |||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Inventory, Semi-finished goods | 85 | |||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Raw Materials and stores and supplies | 76 | |||||
Business Combination, Fair Value Step Up Of Acquired Inventory | 100 | |||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 35 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 505 | |||||
Goodwill | 718 | |||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 208 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 435 | |||||
H&N Business [Member] | Machinery and Equipment [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 372 | |||||
H&N Business [Member] | Building [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 63 | |||||
H&N Business [Member] | Land and Land Improvements [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 39 | |||||
H&N Business [Member] | Construction in Progress [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 31 | |||||
H&N Business [Member] | Customer-Related Intangible Assets [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 268 | |||||
H&N Business [Member] | Developed Technology Rights [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 130 | |||||
H&N Business [Member] | Trademarks and Trade Names [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 37 |
Divestitures and Other Transa62
Divestitures and Other Transactions Divestitures and Other Transactions - Narrative (Details) - Successor [Member] - USD ($) $ in Millions | Nov. 01, 2017 | Dec. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Favorable Supply Agreement Intangible | $ 16,334 | ||
H&N Business [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Preliminary Fair Value | $ 1,970 | ||
Favorable Supply Contract [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Favorable Supply Agreement Intangible | [1] | $ 495 | |
Favorable Supply Contract [Member] | Divested Ag Business [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Definite-Lived Intangible Asset, Useful Life | 5 years | ||
Discontinued Operations, Disposed of by Sale [Member] | Divested Ag Business [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Cash Consideration | $ 1,200 | ||
[1] | Upon closing and pursuant to the terms of the FMC Transaction Agreement, DuPont entered into favorable supply contracts with FMC. DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 3 and 4 for additional information. |
Divestitures and Other Transa63
Divestitures and Other Transactions Divestitures and Other Transactions - Divested Ag Business Results of Operations (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Successor [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
(Loss) Income from discontinued operations after income taxes | $ (77) | ||||
Successor [Member] | Divested Ag Business [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Transaction Costs | 44 | ||||
Net Sales, Discontinued Operations | [1] | 199 | |||
Cost of Goods Sold, Discontinued Operations | [1] | 194 | |||
Research and Development Expense, Discontinued Operations | [1] | 30 | |||
Selling, General and Administrative, Discontinued Operations | [1],[2] | 102 | |||
Restructuring and Asset Related Charges - Net, Discontinued Operations | [1] | (1) | |||
Sundry Income (Expense) - Net, Discontinued Operations | [1] | (1) | |||
(Loss) Income from Discontinued Operation, before Income Taxes | [1] | (127) | |||
(Benefit from) Provision for Income Taxes, Discontinued Operation | [1] | (50) | |||
(Loss) Income from discontinued operations after income taxes | [1] | $ (77) | |||
Predecessor [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
(Loss) Income from discontinued operations after income taxes | $ 119 | $ 443 | $ 512 | ||
Predecessor [Member] | Divested Ag Business [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Net Sales, Discontinued Operations | 1,068 | 1,385 | 1,473 | ||
Cost of Goods Sold, Discontinued Operations | 412 | 514 | 521 | ||
Other Operating Charges, Discontinued Operations | 17 | 19 | 25 | ||
Research and Development Expense, Discontinued Operations | 95 | 139 | 163 | ||
Selling, General and Administrative, Discontinued Operations | 146 | 176 | 187 | ||
Restructuring and Asset Related Charges - Net, Discontinued Operations | 0 | (4) | 15 | ||
Sundry Income (Expense) - Net, Discontinued Operations | 7 | 1 | 7 | ||
(Loss) Income from Discontinued Operation, before Income Taxes | 405 | 542 | 569 | ||
(Benefit from) Provision for Income Taxes, Discontinued Operation | 79 | 103 | 121 | ||
(Loss) Income from discontinued operations after income taxes | $ 326 | $ 439 | $ 448 | ||
[1] | Includes results of operations for the period September 1 through October 31, 2017, as the Divested Ag Business was disposed of on November 1, 2017. | ||||
[2] | Successor period includes $44 million of transaction costs associated with the disposal of the Divested Ag Business. |
Divestitures and Other Transa64
Divestitures and Other Transactions Divestitures and Other Transactions - Divested Ag Business Depreciation and Capital Expenditures (Details) - Divested Ag Business [Member] - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Depreciation, Discontinued Operations | $ 0 | |||
Capital Expenditures, Discontinued Operations | $ 5 | |||
Predecessor [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Depreciation, Discontinued Operations | $ 21 | $ 32 | $ 30 | |
Capital Expenditures, Discontinued Operations | $ 8 | $ 40 | $ 77 |
Divestitures and Other Transa65
Divestitures and Other Transactions Divestitures and Other Transactions - Divested Ag Business Assets and Liabilities (Details) - Predecessor [Member] - USD ($) $ in Millions | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents | $ (31) | $ 15 | $ 22 |
Divested Ag Business [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents | 57 | ||
Disposal Group, Including Discontinued Operation, Accounts, Accounts and Notes Receivable, Net | 12 | ||
Disposal Group, Including Discontinued Operation, Inventories | 323 | ||
Disposal Group, Including Discontinued Operation, Other Current Assets | 1 | ||
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Net | 380 | ||
Disposal Group, Including Discontinued Operation, Goodwill | 11 | ||
Disposal Group, Including Discontinued Operation, Other Assets | 5 | ||
Disposal Group, Including Discontinued Operation, Assets | 789 | ||
Disposal Group, Including Discontinued Operation, Accounts Payable | 27 | ||
Disposal Group, Including Discontinued Operation, Accrued and Other Current Liabilities | 12 | ||
Disposal Group, Including Discontinued Operation, Deferred Income Tax Liabilities | 6 | ||
Disposal Group, Including Discontinued Operation, Other Noncurrent Obligations | 29 | ||
Disposal Group, Including Discontinued Operation, Liabilities | $ 74 |
Divestitures and Other Transa66
Divestitures and Other Transactions Divestitures and Other Transactions - Food Safety Diagnostic Business (Details) - Predecessor [Member] - Food Safety Diagnostic Business [Member] $ in Millions | 8 Months Ended |
Aug. 31, 2017USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Pre-tax gain on disposal | $ 162 |
Gain on disposal, net of tax | $ 86 |
Divestitures and Other Transa67
Divestitures and Other Transactions Divestitures and Other Transactions - Shenzhen (Details) - Predecessor [Member] - DuPont (Shenzhen) Manufacturing Limited [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Ownership interest in an entity | 100.00% |
Gain on sale of entity | $ 369 |
Gain on sale of entity, after tax | $ 214 |
Divestitures and Other Transa68
Divestitures and Other Transactions Divestitures and Other Transactions - PChem Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 8 Months Ended | 12 Months Ended | ||||
May 31, 2015 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Jul. 01, 2015 | May 12, 2015 | |
Predecessor [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Separation Related Transaction Costs | $ 35 | $ 306 | |||||
Dividend received from Chemours | $ 3,923 | ||||||
Cash distribution received from Chemours | 3,416 | ||||||
Net assets transferred at spin-off | $ 431 | ||||||
Predecessor [Member] | Performance Chemicals [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Restructuring and Related Cost, Incurred Cost | $ 0 | 0 | 59 | ||||
Predecessor [Member] | Chemours' Debt [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Proceeds from Issuance of Debt | $ 4,000 | ||||||
Predecessor [Member] | Senior Notes 7 Percent Due 2025 [Member] | Chemours Notes Received [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Senior Notes Payable | $ 507 | ||||||
Debt Instrument, Interest Rate | 7.00% | ||||||
Predecessor [Member] | Discontinued Operations [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Separation Related Transaction Costs | $ 35 | 260 | |||||
Pension & OPEB, Net Periodic Benefit Cost, Gain Due to Curtailment | 281 | ||||||
Predecessor [Member] | Discontinued Operations [Member] | PFOA Matters: Multi-District Litigation [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Gain (Loss) Related to Litigation Settlement | 335 | ||||||
Gain (Loss) Related To Litigation Settlement, Net Of Tax | $ 214 | ||||||
Predecessor [Member] | Continuing Operations [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Separation Related Transaction Costs | 26 | ||||||
Predecessor [Member] | Continuing Operations [Member] | Loss on extinguishment of debt [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Separation Related Transaction Costs | $ 20 | ||||||
Accounts and Notes Receivable [Member] | Successor [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Indemnification Assets | $ 80 | ||||||
Other Assets [Member] | Successor [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Indemnification Assets | 340 | ||||||
Accrued and Other Current Liabilities [Member] | Successor [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Indemnification Liabilities | 80 | ||||||
Other Noncurrent Obligations [Member] | Successor [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Indemnification Liabilities | $ 340 |
Divestitures and Other Transa69
Divestitures and Other Transactions Divestitures and Other Transactions - PChem Results of Operations (Details) - Predecessor [Member] - USD ($) $ in Millions | 8 Months Ended | 12 Months Ended | |
Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
(Loss) Income from discontinued operations after income taxes | $ 119 | $ 443 | $ 512 |
Performance Chemicals [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net Sales, Discontinued Operations | 0 | 0 | 2,810 |
Cost of Goods Sold, Discontinued Operations | 0 | 0 | 2,215 |
Other Operating Charges, Discontinued Operations | 335 | 36 | 386 |
Research and Development Expense, Discontinued Operations | 0 | 0 | 40 |
Selling, General and Administrative, Discontinued Operations | 0 | 0 | (87) |
Restructuring and Asset Related Charges - Net, Discontinued Operations | 0 | 0 | 59 |
Sundry Income (Expense) - Net, Discontinued Operations | 3 | 3 | 27 |
Interest Expense, Discontinued Operations | 0 | 0 | 32 |
(Loss) Income from Discontinued Operation, before Income Taxes | (332) | (33) | 192 |
(Benefit from) Provision for Income Taxes, Discontinued Operation | (125) | (28) | 106 |
(Loss) Income from discontinued operations after income taxes | $ (207) | $ (5) | $ 86 |
Divestitures and Other Transa70
Divestitures and Other Transactions Divestitures and Other Transactions - PChem Depreciation, Capital Expenditures and Amortization (Details) - Predecessor [Member] - Performance Chemicals [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Depreciation, Discontinued Operations | $ 126 |
Amortization Expense, Discontinued Operations | 2 |
Capital Expenditures, Discontinued Operations | $ 235 |
Restructuring and Asset Relat71
Restructuring and Asset Related Charges DowDuPont Cost Synergy Program (Details) - Successor [Member] - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | ||||
Sep. 30, 2017 | [1] | Dec. 31, 2017 | Dec. 31, 2017 | Nov. 01, 2017 | |||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Asset Related Charges - Net | $ 40 | $ 140 | [1] | $ 180 | |||
DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Asset Related Charges - Net | 187 | ||||||
Payments for Restructuring | (16) | ||||||
Asset write-offs | (3) | ||||||
Non-Cash Compensation | (7) | ||||||
Restructuring Reserve | 161 | 161 | |||||
Employee Severance [Member] | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Asset Related Charges - Net | 153 | ||||||
Payments for Restructuring | (13) | ||||||
Asset write-offs | 0 | ||||||
Non-Cash Compensation | (7) | ||||||
Restructuring Reserve | 133 | 133 | |||||
Other Non-Personnel Charges | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Asset Related Charges - Net | [2] | 31 | |||||
Payments for Restructuring | [2] | (3) | |||||
Asset write-offs | [2] | 0 | |||||
Non-Cash Compensation | [2] | 0 | |||||
Restructuring Reserve | [2] | 28 | 28 | ||||
Asset Related Charges [Member] | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Asset Related Charges - Net | 3 | ||||||
Payments for Restructuring | 0 | ||||||
Asset write-offs | (3) | ||||||
Non-Cash Compensation | 0 | ||||||
Restructuring Reserve | $ 0 | $ 0 | |||||
Minimum [Member] | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | $ 430 | ||||||
Minimum [Member] | Employee Severance [Member] | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | 320 | ||||||
Minimum [Member] | Other Non-Personnel Charges | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | 110 | ||||||
Maximum [Member] | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | 600 | ||||||
Maximum [Member] | Employee Severance [Member] | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | 360 | ||||||
Maximum [Member] | Other Non-Personnel Charges | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | 140 | ||||||
Maximum [Member] | Asset Related Charges [Member] | DowDuPont Cost Synergy Program [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and Related Cost, Expected Cost | $ 100 | ||||||
[1] | See Note 5 for additional information. | ||||||
[2] | Other non-personnel charges consist of contractual obligation costs. |
Restructuring and Asset Relat72
Restructuring and Asset Related Charges 2017 Restructuring Program (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||||||||||||||||
Sep. 30, 2017 | [1] | Aug. 31, 2017 | Dec. 31, 2017 | Jun. 30, 2017 | [1] | Mar. 31, 2017 | [1] | Dec. 31, 2016 | [1] | Sep. 30, 2016 | [1] | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Predecessor [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 11 | [1] | $ 160 | $ 152 | $ 394 | $ 172 | $ (88) | $ 78 | $ 323 | $ 556 | $ 795 | ||||||||||||
Predecessor [Member] | 2017 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 313 | ||||||||||||||||||||||
Payments for Restructuring | (8) | ||||||||||||||||||||||
Asset write-offs | (279) | ||||||||||||||||||||||
Restructuring Reserve | 26 | 26 | |||||||||||||||||||||
Predecessor [Member] | Employee Severance [Member] | 2017 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 34 | ||||||||||||||||||||||
Payments for Restructuring | (8) | ||||||||||||||||||||||
Asset write-offs | 0 | ||||||||||||||||||||||
Restructuring Reserve | 26 | 26 | |||||||||||||||||||||
Predecessor [Member] | Asset Related Charges [Member] | 2017 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | [2] | 279 | |||||||||||||||||||||
Payments for Restructuring | 0 | ||||||||||||||||||||||
Asset write-offs | [2] | (279) | |||||||||||||||||||||
Restructuring Reserve | $ 0 | $ 0 | |||||||||||||||||||||
Successor [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 40 | $ 140 | [1] | $ 180 | |||||||||||||||||||
Successor [Member] | 2017 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 0 | ||||||||||||||||||||||
Payments for Restructuring | (7) | ||||||||||||||||||||||
Restructuring Reserve | 19 | 19 | |||||||||||||||||||||
Successor [Member] | Employee Severance [Member] | 2017 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 0 | ||||||||||||||||||||||
Payments for Restructuring | (7) | ||||||||||||||||||||||
Restructuring Reserve | 19 | 19 | |||||||||||||||||||||
Successor [Member] | Asset Related Charges [Member] | 2017 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 0 | ||||||||||||||||||||||
Payments for Restructuring | 0 | ||||||||||||||||||||||
Restructuring Reserve | $ 0 | $ 0 | |||||||||||||||||||||
[1] | See Note 5 for additional information. | ||||||||||||||||||||||
[2] | Includes accelerated depreciation related to site closure. Charge for accelerated depreciation represents the difference between the depreciation expense to be recognized over the revised useful life of the site, based upon the anticipated date the site will be closed and depreciation expense as determined utilizing the useful life prior to the restructuring action. |
Restructuring and Asset Relat73
Restructuring and Asset Related Charges La Porte (Details) - Predecessor [Member] - USD ($) $ in Millions | 2 Months Ended | 3 Months Ended | 8 Months Ended | 12 Months Ended | |||||||||||||
Aug. 31, 2017 | [1] | Jun. 30, 2017 | [1] | Mar. 31, 2017 | [1] | Dec. 31, 2016 | [1] | Sep. 30, 2016 | [1] | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 11 | $ 160 | $ 152 | $ 394 | $ 172 | $ (88) | $ 78 | $ 323 | $ 556 | $ 795 | |||||||
La Porte [Member] | |||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||
Restructuring and Asset Related Charges - Net | 68 | ||||||||||||||||
Asset Related Charges [Member] | La Porte [Member] | |||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||
Restructuring and Asset Related Charges - Net | 41 | ||||||||||||||||
Employee Severance [Member] | La Porte [Member] | |||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||
Restructuring and Asset Related Charges - Net | 16 | ||||||||||||||||
Contract Termination [Member] | La Porte [Member] | |||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 11 | ||||||||||||||||
[1] | See Note 5 for additional information. |
Restructuring and Asset Relat74
Restructuring and Asset Related Charges 2016 Global Cost Savings and Restructuring Plan (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||||||||||||||||
Sep. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Jun. 30, 2017 | [1] | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | [1] | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||||
Predecessor [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 11 | [1] | $ 160 | $ 152 | [1] | $ 394 | [1] | $ 172 | $ (88) | $ 78 | $ 323 | $ 556 | $ 795 | ||||||||||
Predecessor [Member] | 2016 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 10 | (81) | 783 | ||||||||||||||||||||
Restructuring Reserve, Beginning Balance | $ 47 | 122 | $ 47 | 122 | |||||||||||||||||||
Payments for Restructuring | (87) | ||||||||||||||||||||||
Restructuring Reserve, Net Translation Adjustment | 2 | ||||||||||||||||||||||
Restructuring Reserve, Other Adjustment | 10 | ||||||||||||||||||||||
Restructuring Reserve, Ending Balance | 47 | 122 | 47 | 122 | |||||||||||||||||||
Predecessor [Member] | 2016 Restructuring Program [Member] | Sundry Income (Expense) - net | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 3 | 5 | |||||||||||||||||||||
Predecessor [Member] | 2016 Restructuring Program [Member] | Restructuring and Asset Related Charges - Net [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | (84) | 778 | |||||||||||||||||||||
Predecessor [Member] | Employee Severance [Member] | 2016 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | (150) | 641 | |||||||||||||||||||||
Restructuring Reserve, Beginning Balance | 36 | 100 | 36 | 100 | |||||||||||||||||||
Payments for Restructuring | (76) | ||||||||||||||||||||||
Restructuring Reserve, Net Translation Adjustment | 2 | ||||||||||||||||||||||
Restructuring Reserve, Other Adjustment | 10 | ||||||||||||||||||||||
Restructuring Reserve, Ending Balance | 36 | 100 | 36 | 100 | |||||||||||||||||||
Predecessor [Member] | Asset Related Charges [Member] | 2016 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 53 | 109 | |||||||||||||||||||||
Predecessor [Member] | Contract Termination [Member] | 2016 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 16 | $ 33 | |||||||||||||||||||||
Restructuring Reserve, Beginning Balance | [2] | 11 | $ 22 | 11 | 22 | ||||||||||||||||||
Payments for Restructuring | [2] | (11) | |||||||||||||||||||||
Restructuring Reserve, Net Translation Adjustment | [2] | 0 | |||||||||||||||||||||
Restructuring Reserve, Other Adjustment | [2] | 0 | |||||||||||||||||||||
Restructuring Reserve, Ending Balance | [2] | 11 | $ 22 | 11 | $ 22 | ||||||||||||||||||
Successor [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 40 | [1] | $ 140 | [1] | 180 | ||||||||||||||||||
Successor [Member] | 2016 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | (5) | ||||||||||||||||||||||
Restructuring Reserve, Beginning Balance | 47 | 47 | |||||||||||||||||||||
Payments for Restructuring | (20) | ||||||||||||||||||||||
Restructuring Reserve, Other Adjustment | (5) | ||||||||||||||||||||||
Restructuring Reserve, Ending Balance | 47 | 22 | 22 | 47 | |||||||||||||||||||
Successor [Member] | Employee Severance [Member] | 2016 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring Reserve, Beginning Balance | 36 | 36 | |||||||||||||||||||||
Payments for Restructuring | (18) | ||||||||||||||||||||||
Restructuring Reserve, Other Adjustment | (5) | ||||||||||||||||||||||
Restructuring Reserve, Ending Balance | 36 | 13 | 13 | 36 | |||||||||||||||||||
Successor [Member] | Contract Termination [Member] | 2016 Restructuring Program [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring Reserve, Beginning Balance | [2] | $ 11 | 11 | ||||||||||||||||||||
Payments for Restructuring | [2] | (2) | |||||||||||||||||||||
Restructuring Reserve, Other Adjustment | [2] | 0 | |||||||||||||||||||||
Restructuring Reserve, Ending Balance | [2] | $ 11 | $ 9 | $ 9 | $ 11 | ||||||||||||||||||
[1] | See Note 5 for additional information. | ||||||||||||||||||||||
[2] | Other non-personnel charges consist of contractual obligation costs. |
Restructuring and Asset Relat75
Restructuring and Asset Related Charges 2014 Restructuring Program (Details) - 2014 Restructuring Program [Member] - USD ($) $ in Millions | 4 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve, Other Adjustment | $ (2) | ||
Predecessor [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve, Other Adjustment | $ (21) | $ (21) |
Restructuring and Asset Relat76
Restructuring and Asset Related Charges Asset Impairments (Details) - Predecessor [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | ||
Capitalized Computer Software, Gross | $ 435 | |
Property, Plant, and Equipment, Fair Value Disclosure | 0 | |
Asset Impairment Charges | 435 | $ 38 |
Cost basis investment ownership | 6.00% | |
Cost-method Investments, Other than Temporary Impairment [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Cost-Method Investments Impairment | $ 37 | |
Trade Names [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Asset Impairment Charges | 158 | |
Remaining Net Book Value, Trade Name | $ 28 |
Supplementary Information Sundr
Supplementary Information Sundry Income (Expense) - Net (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Successor [Member] | |||||||
Schedule of Sundry Income (Expense) - Net [Line Items] | |||||||
Royalty income | $ 60 | ||||||
Interest income | 41 | ||||||
Equity in earnings of affiliates - net | 1 | ||||||
Net gain on sales of businesses and other assets | 16 | ||||||
Net exchange gains (losses) | 8 | ||||||
Miscellaneous income and expenses, net | [1] | 24 | |||||
Sundry income - net | $ 90 | ||||||
Predecessor [Member] | |||||||
Schedule of Sundry Income (Expense) - Net [Line Items] | |||||||
Royalty income | $ 84 | $ 170 | $ 138 | ||||
Interest income | 83 | 102 | 124 | ||||
Equity in earnings of affiliates - net | 55 | 99 | 49 | ||||
Net gain on sales of businesses and other assets | 205 | [2] | 435 | [3] | 92 | ||
Net exchange gains (losses) | (394) | (106) | 30 | ||||
Miscellaneous income and expenses, net | [1] | 133 | 7 | 257 | |||
Sundry income - net | 166 | 707 | $ 690 | ||||
Food Safety Diagnostic Business [Member] | Predecessor [Member] | |||||||
Schedule of Sundry Income (Expense) - Net [Line Items] | |||||||
Pre-tax gain on disposal | 162 | ||||||
Gain on disposal, net of tax | $ 86 | ||||||
DuPont (Shenzhen) Manufacturing Limited [Member] | Predecessor [Member] | |||||||
Schedule of Sundry Income (Expense) - Net [Line Items] | |||||||
Gain on sale of entity | 369 | ||||||
Gain on sale of entity, after tax | $ 214 | ||||||
[1] | Miscellaneous income and expenses - net, includes interest items (in the Predecessor period only), gains (losses) on available for sale securities, gains related to litigation settlements, licensing income, gains on purchases, and other items. | ||||||
[2] | Includes a pre-tax gain of $162 million ($86 million net of tax) for the period January 1 through August 31, 2017 related to the sale of global food safety diagnostics. See Note 4 for additional information. | ||||||
[3] | Includes a pre-tax gain of $369 million ($214 million net of tax) for the year ended December 31, 2016 related to the sale of DuPont (Shenzhen) Manufacturing Limited. See Note 4 for additional information. |
Supplementary Information Forei
Supplementary Information Foreign Currency Exchange Gain (Loss) (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Foreign Currency Exchange Gain (Loss) [Line Items] | ||||
Foreign Currency Transaction Gain (Loss), before Tax | $ 8 | |||
Foreign Currency Transaction Gain (Loss) Tax | (36) | |||
Foreign Currency Transaction Gain (Loss) After Tax | (28) | |||
Predecessor [Member] | ||||
Foreign Currency Exchange Gain (Loss) [Line Items] | ||||
Foreign Currency Transaction Gain (Loss), before Tax | $ (394) | $ (106) | $ 30 | |
Foreign Currency Transaction Gain (Loss) Tax | 372 | (16) | (218) | |
Foreign Currency Transaction Gain (Loss) After Tax | (22) | (122) | (188) | |
Subsidiary Monetary Position | Successor [Member] | ||||
Foreign Currency Exchange Gain (Loss) [Line Items] | ||||
Foreign Currency Transaction Gain (Loss), before Tax | (83) | |||
Foreign Currency Transaction Gain (Loss) Tax | (3) | |||
Foreign Currency Transaction Gain (Loss) After Tax | (86) | |||
Subsidiary Monetary Position | Predecessor [Member] | ||||
Foreign Currency Exchange Gain (Loss) [Line Items] | ||||
Foreign Currency Transaction Gain (Loss), before Tax | 37 | 198 | (404) | |
Foreign Currency Transaction Gain (Loss) Tax | 217 | (126) | (61) | |
Foreign Currency Transaction Gain (Loss) After Tax | 254 | 72 | (465) | |
Hedging Program [Member] | Successor [Member] | ||||
Foreign Currency Exchange Gain (Loss) [Line Items] | ||||
Foreign Currency Transaction Gain (Loss), before Tax | 91 | |||
Foreign Currency Transaction Gain (Loss) Tax | (33) | |||
Foreign Currency Transaction Gain (Loss) After Tax | $ 58 | |||
Hedging Program [Member] | Predecessor [Member] | ||||
Foreign Currency Exchange Gain (Loss) [Line Items] | ||||
Foreign Currency Transaction Gain (Loss), before Tax | (431) | (304) | 434 | |
Foreign Currency Transaction Gain (Loss) Tax | 155 | 110 | (157) | |
Foreign Currency Transaction Gain (Loss) After Tax | $ (276) | $ (194) | $ 277 |
Supplementary Information Suppl
Supplementary Information Supplementary Information (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 4 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2017 | Nov. 02, 2017 | Dec. 31, 2016 | |
Successor [Member] | ||||
Restricted Cash | $ 558 | $ 558 | ||
Accrued and other current liabilities | 4,384 | 4,384 | ||
Deferred Revenue | 2,014 | 2,014 | ||
Compensation and other employee-related costs | 857 | 857 | ||
Other noncurrent obligations | 1,975 | 1,975 | ||
Accrued benefit costs | 7,787 | 7,787 | ||
Stock Repurchase Program, Authorized Amount | $ 4,000 | |||
Distributions to DowDuPont | 829 | (829) | ||
Successor [Member] | DowDuPont [Member] | ||||
Accounts Payable, Related Parties | 354 | 354 | ||
Successor [Member] | Other Current Assets [Member] | ||||
Restricted Cash | $ 558 | $ 558 | ||
Predecessor [Member] | ||||
Accrued and other current liabilities | $ 4,650 | |||
Deferred Revenue | 2,217 | |||
Compensation and other employee-related costs | 807 | |||
Other noncurrent obligations | 12,304 | |||
Predecessor [Member] | Pension Plan | ||||
Accrued benefit costs | 8,092 | |||
Predecessor [Member] | Other Post Employment Benefits Plan | ||||
Accrued benefit costs | $ 2,554 |
Income Taxes Income Taxes - Nar
Income Taxes Income Taxes - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||||
Operating Loss Carryforwards [Line Items] | ||||||
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Change in Tax Rate, Provisional Income Tax Benefit | $ (2,716) | |||||
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Transition Tax for Accumulated Foreign Earnings, Provisional Income Tax Expense | 715 | |||||
Undistributed Earnings of Foreign Subsidiaries | $ 15,408 | 15,408 | ||||
(Loss) Income from Continuing Operations before Income Taxes, Foreign | (775) | |||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 360 | $ 1,109 | $ 1,469 | |||
Predecessor [Member] | ||||||
Operating Loss Carryforwards [Line Items] | ||||||
Undistributed Earnings of Foreign Subsidiaries | $ 17,380 | $ 16,053 | ||||
(Loss) Income from Continuing Operations before Income Taxes, Foreign | $ 1,382 | $ 1,308 | $ 721 |
Income Taxes Income Taxes - Geo
Income Taxes Income Taxes - Geographic Allocation of Income and Provision for Income Taxes (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2017 | [1],[2] | Aug. 31, 2017 | [1] | Dec. 31, 2017 | [1],[2],[3] | Jun. 30, 2017 | [1] | Mar. 31, 2017 | [1],[4],[5] | Dec. 31, 2016 | [6] | Sep. 30, 2016 | [6] | Jun. 30, 2016 | [6] | Mar. 31, 2016 | [6],[7] | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||||||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes, Domestic | $ (811) | |||||||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes, Foreign | (775) | |||||||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes | (1,586) | |||||||||||||||||||||
(Benefit from) provision for income taxes on continuing operations | (2,673) | |||||||||||||||||||||
Net income (loss) | $ (295) | $ 1,305 | 1,010 | |||||||||||||||||||
Predecessor [Member] | ||||||||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes, Domestic | $ 409 | $ 1,415 | $ 1,301 | |||||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes, Foreign | 1,382 | 1,308 | 721 | |||||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes | 1,791 | 2,723 | 2,022 | |||||||||||||||||||
(Benefit from) provision for income taxes on continuing operations | 149 | 641 | 575 | |||||||||||||||||||
Net income (loss) | $ (229) | $ 869 | $ 1,121 | $ 263 | $ 6 | $ 1,024 | $ 1,232 | 1,761 | 2,525 | 1,959 | ||||||||||||
Continuing Operations [Member] | Successor [Member] | ||||||||||||||||||||||
Current Federal Tax Expense (Benefit) | 216 | |||||||||||||||||||||
Current State and Local Tax Expense (Benefit) | 22 | |||||||||||||||||||||
Current Foreign Tax Expense (Benefit) | 187 | |||||||||||||||||||||
Current Income Tax Expense (Benefit) | 425 | |||||||||||||||||||||
Deferred Federal Income Tax (Benefit) Expense | (2,790) | |||||||||||||||||||||
Deferred State and Local Income Tax (Benefit) Expense | (48) | |||||||||||||||||||||
Deferred Foreign Income Tax (Benefit) Expense | (260) | |||||||||||||||||||||
Deferred Income Tax (Benefit) Expense | (3,098) | |||||||||||||||||||||
(Benefit from) provision for income taxes on continuing operations | (2,673) | |||||||||||||||||||||
Net income (loss) | $ 1,087 | |||||||||||||||||||||
Continuing Operations [Member] | Predecessor [Member] | ||||||||||||||||||||||
Current Federal Tax Expense (Benefit) | (563) | 4 | 155 | |||||||||||||||||||
Current State and Local Tax Expense (Benefit) | (11) | 9 | 2 | |||||||||||||||||||
Current Foreign Tax Expense (Benefit) | 282 | 539 | 420 | |||||||||||||||||||
Current Income Tax Expense (Benefit) | (292) | 552 | 577 | |||||||||||||||||||
Deferred Federal Income Tax (Benefit) Expense | 476 | 22 | 135 | |||||||||||||||||||
Deferred State and Local Income Tax (Benefit) Expense | (8) | (29) | 4 | |||||||||||||||||||
Deferred Foreign Income Tax (Benefit) Expense | (27) | 96 | (141) | |||||||||||||||||||
Deferred Income Tax (Benefit) Expense | 441 | 89 | (2) | |||||||||||||||||||
(Benefit from) provision for income taxes on continuing operations | 149 | 641 | 575 | |||||||||||||||||||
Net income (loss) | $ 1,642 | $ 2,082 | $ 1,447 | |||||||||||||||||||
[1] | Includes charges of $(170) million, $(201) million, $(210) million, $(71) million, and $(243) million in the first quarter 2017, second quarter 2017, the period July 1 - August 31, 2017, the period September 1 - September 30, 2017, and the fourth quarter 2017, respectively, related to transaction costs associated with the Merger. Predecessor costs are recorded in selling, general and administrative expenses; Successor costs are recoded in integration and separation costs. See Note 3 for additional information. | |||||||||||||||||||||
[2] | Includes charges of $(360) million and $(1,109) million during the period September 1 - September 30, 2017 and the fourth quarter 2017, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business, which was included in cost of goods sold. See Note 3 for additional information. | |||||||||||||||||||||
[3] | Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to the Tax Cuts and Jobs Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. See Note 7 for additional information. | |||||||||||||||||||||
[4] | First quarter 2017 included a gain of $162 million recorded in sundry income - net associated with the sale of the company's global food safety diagnostic business. See Note 4 for additional information. | |||||||||||||||||||||
[5] | First quarter 2017 included a tax benefit of $53 million, as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. | |||||||||||||||||||||
[6] | First, second, third and fourth quarter 2016 included charges of $(24) million, $(76) million, $(122) million, and $(164) million, respectively, recorded in selling, general and administrative expenses related to transaction costs associated with the Merger. See Note 3 for additional information. | |||||||||||||||||||||
[7] | First quarter 2016 included a gain of $369 million recorded in sundry income - net associated with the sale of the DuPont (Shenzhen) Manufacturing Limited entity, which held certain buildings and other assets. See Note 4 for additional information |
Income Taxes Income Taxes - Rec
Income Taxes Income Taxes - Reconciliation to US Statutory Rate (Details) - USD ($) $ in Millions | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Successor [Member] | |||||||
Statutory U.S. federal income tax rate | 35.00% | ||||||
Equity earning effect | 0.90% | ||||||
Lower effective tax rates on international operations - net | (9.50%) | ||||||
Acquisitions, divestitures, and ownership restructuring activities | [1],[2] | 15.80% | |||||
U.S. research and development credit | 0.40% | ||||||
Exchange gains/losses | [3] | (1.80%) | |||||
Impact of U.S. Tax Reform | 126.10% | ||||||
Excess tax benefits from stock-compensation | 0.10% | ||||||
Tax settlements and expiration of statue of limitations | 0.00% | ||||||
Other, net | 1.50% | ||||||
Effective Income Tax Rate | 168.50% | ||||||
Benefit related to internal legal entity restructuring | $ 261 | ||||||
Predecessor [Member] | |||||||
Statutory U.S. federal income tax rate | 35.00% | 35.00% | 35.00% | ||||
Equity earning effect | (0.50%) | (0.80%) | (0.70%) | ||||
Lower effective tax rates on international operations - net | (11.40%) | (9.20%) | (9.70%) | ||||
Acquisitions, divestitures, and ownership restructuring activities | [2] | 5.20% | 1.90% | (0.20%) | |||
U.S. research and development credit | (0.80%) | (0.70%) | (1.50%) | ||||
Exchange gains/losses | [3] | (12.90%) | 1.90% | 10.20% | |||
Excess tax benefits from stock-compensation | [4] | (1.70%) | |||||
Tax settlements and expiration of statue of limitations | (3.80%) | [5] | (1.10%) | (1.50%) | |||
Other, net | (0.80%) | (3.50%) | (3.20%) | ||||
Effective Income Tax Rate | 8.30% | 23.50% | 28.40% | ||||
Continuing Operations [Member] | Predecessor [Member] | |||||||
Tax benefit related to reduction in company's unrecognized tax benefits | $ 53 | $ 53 | |||||
[1] | Includes a net tax benefit of $261 million related to an internal legal entity restructuring associated with the Intended Business Separations. | ||||||
[2] | See Notes 3 and 4 for additional information. | ||||||
[3] | Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 6 and Note 18 under the heading Foreign Currency Risk. | ||||||
[4] | Reflects the impact of the adoption of Accounting Standards Update ("ASU") 2016-09, which resulted in the recognition of excess tax benefits related to equity compensation in the (benefit from) provision for income taxes on continuing operations. See Note 2 for additional information. | ||||||
[5] | The period January 1 through August 31, 2017 includes a tax benefit of $53 million for accrued interest reversals (recorded in sundry income - net). |
Income Taxes Income Taxes - Def
Income Taxes Income Taxes - Deferred Tax Balances (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Successor [Member] | ||
Assets | ||
Deferred Tax Assets, Tax Loss And Tax Credit Carryforwards | $ 1,690 | |
Deferred Tax Assets, Tax Deferred Expense, Accrued Employee Benefits | 1,988 | |
Deferred Tax Assets, Tax Deferred Expense, Other Accruals and Reversals | 333 | |
Deferred Tax Assets, Intangible Assets | 284 | |
Deferred Tax Assets, Inventory | 130 | |
Deferred Tax Assets, Long-Term Debt | 109 | |
Deferred Tax Assets, Investments | 23 | |
Deferred Tax Assets, Other | 260 | |
Deferred Tax Assets, Gross | 4,817 | |
Deferred Tax Assets, Valuation Allowance | (1,378) | |
Deferred Tax Assets, Net of Valuation Allowance | 3,439 | |
Liabilities | ||
Deferred Tax Liabilities, Property | 1,160 | |
Deferred Tax Liabilities, Tax Deferred Expense, Accrued Employee Benefits | 68 | |
Deferred Tax Liabilities, Tax Deferred Expense, Other Accruals and Reversals | 39 | |
Deferred Tax Liabilities, Intangible Assets | 6,286 | |
Deferred Tax Liabilities, Inventory | 597 | |
Deferred Tax Liabilities, Investments | 453 | |
Deferred Tax Liabilities, Unrealized Exchange Gains/Losses | 71 | |
Deferred Tax Liabilities, Other | 121 | |
Deferred Tax Liabilities, Gross | 8,795 | |
Deferred Tax Liabilities, Net | $ (5,356) | |
Predecessor [Member] | ||
Assets | ||
Deferred Tax Assets, Tax Loss And Tax Credit Carryforwards | $ 1,808 | |
Deferred Tax Assets, Tax Deferred Expense, Accrued Employee Benefits | 4,529 | |
Deferred Tax Assets, Tax Deferred Expense, Other Accruals and Reversals | 617 | |
Deferred Tax Assets, Intangible Assets | 210 | |
Deferred Tax Assets, Inventory | 163 | |
Deferred Tax Assets, Investments | 126 | |
Deferred Tax Assets, Other | 257 | |
Deferred Tax Assets, Gross | 7,710 | |
Deferred Tax Assets, Valuation Allowance | (1,308) | |
Deferred Tax Assets, Net of Valuation Allowance | 6,402 | |
Deferred Tax Assets, Net | 2,883 | |
Liabilities | ||
Deferred Tax Liabilities, Property | 742 | |
Deferred Tax Liabilities, Tax Deferred Expense, Accrued Employee Benefits | 410 | |
Deferred Tax Liabilities, Tax Deferred Expense, Other Accruals and Reversals | 222 | |
Deferred Tax Liabilities, Intangible Assets | 1,345 | |
Deferred Tax Liabilities, Inventory | 138 | |
Deferred Tax Liabilities, Investments | 230 | |
Deferred Tax Liabilities, Unrealized Exchange Gains/Losses | 346 | |
Deferred Tax Liabilities, Other | 86 | |
Deferred Tax Liabilities, Gross | $ 3,519 |
Income Taxes Income Taxes - Ope
Income Taxes Income Taxes - Operating Loss and Tax Credit Carryforwards (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Predecessor [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | $ 1,523 | |
Deferred Tax Assets, Tax Credit Carryforwards | 285 | |
Total Operating Loss and Tax Credit Carryforwards | 1,808 | |
Successor [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | $ 1,525 | |
Deferred Tax Assets, Tax Credit Carryforwards | 165 | |
Total Operating Loss and Tax Credit Carryforwards | 1,690 | |
Expiring within Five Years [Member] | Predecessor [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | 41 | |
Deferred Tax Assets, Tax Credit Carryforwards | 10 | |
Expiring within Five Years [Member] | Successor [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | 42 | |
Deferred Tax Assets, Tax Credit Carryforwards | 10 | |
Expiring After Five Years Or Having Indefinite Expiration [Member] | Predecessor [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | 1,482 | |
Deferred Tax Assets, Tax Credit Carryforwards | $ 275 | |
Expiring After Five Years Or Having Indefinite Expiration [Member] | Successor [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | 1,483 | |
Deferred Tax Assets, Tax Credit Carryforwards | $ 155 |
Income Taxes Income Taxes - Gro
Income Taxes Income Taxes - Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Unrecognized Tax Benefits, Beginning Balance | $ 436 | |||
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | (2) | |||
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 9 | |||
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 19 | |||
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 1 | |||
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | (5) | |||
Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation | 1 | |||
Unrecognized Tax Benefits, Ending Balance | 459 | $ 436 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 76 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 1 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 25 | |||
Predecessor [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Unrecognized Tax Benefits, Beginning Balance | $ 265 | 348 | $ 558 | $ 735 |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | (19) | (41) | (98) | |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 3 | 32 | 13 | |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 19 | 32 | 32 | |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | (6) | (205) | (58) | |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | (81) | (30) | (30) | |
Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation | 1 | 2 | (36) | |
Unrecognized Tax Benefits, Ending Balance | 265 | 348 | 558 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 188 | 253 | 386 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | (27) | 10 | (14) | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 22 | $ 71 | $ 88 |
Earnings Per Share of Common 86
Earnings Per Share of Common Stock Earnings Per Share Reconciliation (Details) - USD ($) $ in Millions | Aug. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Predecessor [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Income from Continuing Operations after Income Taxes, attributable to DuPont | $ 1,624 | $ 2,072 | $ 1,443 | ||
Preferred Dividends | (7) | (10) | (10) | ||
Income from continuing operations after income taxes available to DuPont common stockholders | 1,617 | 2,062 | 1,433 | ||
Income from Discontinued Operations after income taxes available to DuPont common stockholders | 117 | 441 | 510 | ||
Net Income Available to Common Stockholders | $ 1,734 | $ 2,503 | $ 1,943 | ||
Weighted Average Number of Shares Outstanding, Basic | 868,000,000 | 873,000,000 | 894,000,000 | ||
Dilutive effect of the company's employee compensation plans | [1] | 5,000,000 | 4,000,000 | 6,000,000 | |
Weighted Average Number of Shares Outstanding, Diluted | [1] | 872,000,000 | 877,000,000 | 900,000,000 | |
Common Stock [Member] | Merger with Dow [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Share exchange ratio, DuPont to DowDuPont | 1.2820 | ||||
[1] | Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. |
Earnings Per Share of Common 87
Earnings Per Share of Common Stock Average Number of Antidilutive Stock Options (Details) - shares | 8 Months Ended | 12 Months Ended | |
Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Predecessor [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Average number of stock options excluded from diluted calculation | 1,906 | 4,794,000 | 4,715,000 |
Accounts and Notes Receivable88
Accounts and Notes Receivable, Net (Schedule of Accounts and Notes Receivable, Net) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | |||
Accounts and Notes Receivable, Net [Line Items] | |||
Accounts receivable - trade | [1] | $ 3,777 | |
Notes receivable - trade | [2] | 199 | |
Other | [3] | 1,263 | |
Total accounts and notes receivable - net | 5,239 | ||
Accounts and notes receivable - trade, allowance | $ 10 | ||
Predecessor [Member] | |||
Accounts and Notes Receivable, Net [Line Items] | |||
Accounts receivable - trade | [1] | $ 3,601 | |
Notes receivable - trade | [2] | 206 | |
Other | [3] | 1,152 | |
Total accounts and notes receivable - net | 4,959 | ||
Accounts and notes receivable - trade, allowance | $ 287 | ||
[1] | Accounts receivable – trade is net of allowances of $10 million at December 31, 2017 and $287 million at December 31, 2016. Allowances are equal to the estimated uncollectible amounts. That estimate is based on historical collection experience, current economic and market conditions, and review of the current status of customers' accounts. | ||
[2] | Notes receivable – trade primarily consists of receivables within the agriculture product line for deferred payment loan programs for the sale of seed products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2017 and 2016, there were no significant past due notes receivable, nor were there any significant impairments related to current loan agreements. | ||
[3] | Other includes receivables in relation to fair value of derivative instruments, indemnification assets, value added tax, general sales tax and other taxes. No individual group represents more than ten percent of total receivables. |
Inventories Schedule of Invento
Inventories Schedule of Inventory (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Successor [Member] | ||
Inventory [Line Items] | ||
Finished Products | $ 4,500 | |
Semi-finished Products | 2,769 | |
Raw Materials | 371 | |
Stores and Supplies | 447 | |
Total | 8,087 | |
Adjustment of inventories to a LIFO basis | 546 | |
Total inventories | $ 8,633 | |
Predecessor [Member] | ||
Inventory [Line Items] | ||
Finished Products | $ 2,961 | |
Semi-finished Products | 1,877 | |
Raw Materials | 292 | |
Stores and Supplies | 398 | |
Total | 5,528 | |
Adjustment of inventories to a LIFO basis | (178) | |
Total inventories | $ 5,350 |
Inventories Narrative (Details)
Inventories Narrative (Details) - Successor [Member] - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2017 | Sep. 01, 2017 | |
Inventory [Line Items] | ||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ (360) | $ (1,109) | $ (1,469) | |
Merger with Dow [Member] | ||||
Inventory [Line Items] | ||||
Business Combination, Fair Value Step Up Of Acquired Inventory | $ 3,842 | |||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ (1,434) |
Property, Plant and Equipment91
Property, Plant and Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Sep. 01, 2017 | |
Land Improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 1 year | |
Land Improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 25 years | |
Building [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 1 year | |
Building [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 25 years | |
Machinery and Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 1 year | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 25 years | |
Computer Software, Intangible Asset [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 1 year | |
Computer Software, Intangible Asset [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 8 years | |
Merger with Dow [Member] | Successor [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Business Combination, Fair Value Step Up Of Acquired Property | $ 3,200 |
Property, Plant and Equipment S
Property, Plant and Equipment Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Successor [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 12,878 | ||
Accumulated Depreciation | (443) | ||
Property, Plant and Equipment, Net | 12,435 | ||
Successor [Member] | Land and Land Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 913 | ||
Successor [Member] | Building [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 2,747 | ||
Successor [Member] | Machinery and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 8,104 | ||
Successor [Member] | Construction in Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 1,114 | ||
Predecessor [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 23,015 | ||
Accumulated Depreciation | (14,164) | ||
Property, Plant and Equipment, Net | 8,851 | $ 9,414 | |
Predecessor [Member] | Land and Land Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 501 | ||
Predecessor [Member] | Building [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 4,224 | ||
Predecessor [Member] | Machinery and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 16,909 | ||
Predecessor [Member] | Construction in Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 1,381 |
Property, Plant and Equipment93
Property, Plant and Equipment Schedule of Depreciation (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 426 | |||
Predecessor [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 589 | $ 907 | $ 948 |
Goodwill and Other Intangible94
Goodwill and Other Intangible Assets Goodwill (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | |
Predecessor [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Beginning Balance | $ 4,543 | $ 4,169 | $ 4,238 |
Currency Translation Adjustment | 176 | (68) | |
Other Goodwill Adjustments and Acquisitions | 198 | (1) | |
Goodwill, Ending Balance | 4,543 | $ 4,169 | |
Successor [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Beginning Balance | 45,105 | ||
Currency Translation Adjustment | (234) | ||
Goodwill, Ending Balance | 45,589 | $ 45,105 | |
Successor [Member] | H&N Business [Member] | |||
Goodwill [Line Items] | |||
Goodwill Recognized for H&N Acquisition | $ 718 |
Goodwill and Other Intangible95
Goodwill and Other Intangible Assets Other Intangible Assets (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 16,334 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (389) | ||
Finite-Lived Intangible Assets, Net | 15,945 | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 11,781 | ||
Intangible Assets, Gross (Excluding Goodwill) | 28,115 | ||
Total other intangible assets | 27,726 | ||
Successor [Member] | In Process Research and Development [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 660 | ||
Successor [Member] | Germplasm [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | [1] | 6,265 | |
Successor [Member] | Trademarks and Trade Names [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 4,856 | ||
Successor [Member] | Customer-Related Intangible Assets [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 9,502 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (186) | ||
Finite-Lived Intangible Assets, Net | 9,316 | ||
Successor [Member] | Developed Technology Rights [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 4,364 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (144) | ||
Finite-Lived Intangible Assets, Net | 4,220 | ||
Successor [Member] | Trademarks and Trade Names [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 1,117 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (26) | ||
Finite-Lived Intangible Assets, Net | 1,091 | ||
Successor [Member] | Favorable Supply Contract [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | [2] | 495 | |
Finite-Lived Intangible Assets, Accumulated Amortization | [2] | (17) | |
Finite-Lived Intangible Assets, Net | [2] | 478 | |
Successor [Member] | Microbial Cell Factories [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | [3] | 397 | |
Finite-Lived Intangible Assets, Accumulated Amortization | [3] | (6) | |
Finite-Lived Intangible Assets, Net | [3] | 391 | |
Successor [Member] | Other Intangible Assets [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | [4] | 459 | |
Finite-Lived Intangible Assets, Accumulated Amortization | [4] | (10) | |
Finite-Lived Intangible Assets, Net | [4] | $ 449 | |
Predecessor [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 3,208 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (1,521) | ||
Finite-Lived Intangible Assets, Net | 1,687 | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 1,977 | ||
Intangible Assets, Gross (Excluding Goodwill) | 5,185 | ||
Total other intangible assets | 3,664 | ||
Predecessor [Member] | In Process Research and Development [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 73 | ||
Predecessor [Member] | Microbial Cell Factories [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | [3] | 306 | |
Predecessor [Member] | Germplasm [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | [1] | 1,053 | |
Predecessor [Member] | Trademarks and Trade Names [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 545 | ||
Predecessor [Member] | Customer-Related Intangible Assets [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 1,574 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (586) | ||
Finite-Lived Intangible Assets, Net | 988 | ||
Predecessor [Member] | Developed Technology Rights [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 1,410 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (838) | ||
Finite-Lived Intangible Assets, Net | 572 | ||
Predecessor [Member] | Trademarks and Trade Names [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 53 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (15) | ||
Finite-Lived Intangible Assets, Net | 38 | ||
Predecessor [Member] | Other Intangible Assets [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | [4] | 171 | |
Finite-Lived Intangible Assets, Accumulated Amortization | [4] | (82) | |
Finite-Lived Intangible Assets, Net | [4] | $ 89 | |
[1] | Pioneer germplasm is the pool of genetic source material and body of knowledge gained from the development and delivery stage of plant breeding. The company recognized germplasm as an intangible asset upon the acquisition of Pioneer. This intangible asset is expected to contribute to cash flows beyond the foreseeable future and there are no legal, regulatory, contractual, or other factors which limit its useful life. | ||
[2] | Upon closing and pursuant to the terms of the FMC Transaction Agreement, DuPont entered into favorable supply contracts with FMC. DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 3 and 4 for additional information. | ||
[3] | Microbial cell factories, derived from natural microbes, are used to sustainably produce enzymes, peptides and chemicals using natural metabolic processes. The company recognized the microbial cell factories as intangible assets upon the acquisition of Danisco. As a result of the valuation as part of the Merger, it was determined that this intangible asset now has a definite life and therefore it has been moved from indefinite-lived to definite-lived as of September 1, 2017. | ||
[4] | Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements. |
Goodwill and Other Intangible96
Goodwill and Other Intangible Assets Acquired Intangible Assets (Details) - Merger with Dow [Member] $ in Millions | Aug. 31, 2017USD ($) | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 15,436 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 27,221 | [1] |
In Process Research and Development [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Indefinite-lived Intangible Assets Acquired | 660 | |
Germplasm [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Indefinite-lived Intangible Assets Acquired | 6,263 | |
Trademarks and Trade Names [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Indefinite-lived Intangible Assets Acquired | 4,862 | |
Customer-Related Intangible Assets [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 9,264 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 17 years | |
Developed Technology Rights [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 4,239 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 12 years | |
Trademarks and Trade Names [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 1,080 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years | |
Microbial Cell Factories [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 400 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 23 years | |
Other Intangible Assets [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 453 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 17 years | |
[1] | See Note 12 for additional information. |
Goodwill and Other Intangible97
Goodwill and Other Intangible Assets Future Amortization Expense (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Pre-tax amortization expense, 2018 | $ 1,266 | |||
Pre-tax amortization expense, 2019 | 1,254 | |||
Pre-tax amortization expense, 2020 | 1,244 | |||
Pre-tax amortization expense, 2021 | 1,228 | |||
Pre-tax amortization expense, 2022 | 1,221 | |||
Successor [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization expense | $ 389 | |||
Predecessor [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization expense | $ 139 | $ 319 | $ 362 |
Short-Term Borrowings, Long-T98
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Short-Term Borrowings (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Successor [Member] | ||
Short-term Debt [Line Items] | ||
Unused bank credit lines | $ 5,950 | |
Line Of Credit Facility, Remaining Borrowing Capacity, Uncommitted Amount | 731 | |
Letters of Credit Outstanding, Amount | $ 177 | |
Short-term Debt, Weighted Average Interest Rate | 1.80% | |
Predecessor [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Debt, Weighted Average Interest Rate | 2.20% | |
Fair Value, Inputs, Level 2 [Member] | Successor [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Debt, Fair Value | $ 2,780 | |
Fair Value, Inputs, Level 2 [Member] | Predecessor [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Debt, Fair Value | $ 430 |
Short-Term Borrowings, Long-T99
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Short-Term Borrowings and Capital Lease Obligations (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | |||
Short-term Debt [Line Items] | |||
Long-term Debt, Current Maturities | [1] | $ 1,315 | |
Total short-term borrowings and capital lease obligations | 2,779 | ||
Successor [Member] | Commercial Paper [Member] | |||
Short-term Debt [Line Items] | |||
Short-term Debt | 1,436 | ||
Successor [Member] | Notes Payable to Banks [Member] | |||
Short-term Debt [Line Items] | |||
Short-term Debt | $ 28 | ||
Predecessor [Member] | |||
Short-term Debt [Line Items] | |||
Long-term Debt, Current Maturities | $ 4 | ||
Total short-term borrowings and capital lease obligations | 429 | ||
Predecessor [Member] | Commercial Paper [Member] | |||
Short-term Debt [Line Items] | |||
Short-term Debt | 386 | ||
Predecessor [Member] | Notes Payable to Banks [Member] | |||
Short-term Debt [Line Items] | |||
Short-term Debt | $ 39 | ||
[1] | The Successor period includes the reflection of debt at fair value at the date of the Merger. See Note 3 for additional information regarding the Merger. |
Short-Term Borrowings, Long-100
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Long Term Debt (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | |||
Debt Instrument [Line Items] | |||
Capital Lease Obligations | [1] | $ 5 | |
Unamortized debt discount and issuance costs | [1] | 0 | |
Long-term Debt, Current Maturities | [1] | 1,315 | |
Long-term Debt and Capital Lease Obligations | [1] | 10,291 | |
Predecessor [Member] | |||
Debt Instrument [Line Items] | |||
Capital Lease Obligations | $ 9 | ||
Unamortized debt discount and issuance costs | 35 | ||
Long-term Debt, Current Maturities | 4 | ||
Long-term Debt and Capital Lease Obligations | 8,107 | ||
Loans Payable [Member] | Successor [Member] | Final Maturity 2018 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 1,280 | |
Long-term Debt, Weighted Average Interest Rate | 1.59% | ||
Loans Payable [Member] | Successor [Member] | Final Maturity 2019 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 521 | |
Long-term Debt, Weighted Average Interest Rate | 2.23% | ||
Loans Payable [Member] | Successor [Member] | Final Maturity 2020 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 3,070 | |
Long-term Debt, Weighted Average Interest Rate | 1.79% | ||
Loans Payable [Member] | Successor [Member] | Final Maturity 2021 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 1,580 | |
Long-term Debt, Weighted Average Interest Rate | 2.07% | ||
Loans Payable [Member] | Successor [Member] | Final Maturity 2023 and thereafter | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 3,492 | |
Long-term Debt, Weighted Average Interest Rate | 3.32% | ||
Loans Payable [Member] | Successor [Member] | Term Loan Facility due 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 1,500 | |
Long-term Debt, Weighted Average Interest Rate | 2.35% | ||
Loans Payable [Member] | Successor [Member] | Other Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 18 | |
Long-term Debt, Weighted Average Interest Rate | 4.32% | ||
Loans Payable [Member] | Successor [Member] | Foreign Currency Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 30 | |
Long-term Debt, Weighted Average Interest Rate | 2.85% | ||
Loans Payable [Member] | Predecessor [Member] | Final Maturity 2018 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 1,290 | ||
Loans Payable [Member] | Predecessor [Member] | Final Maturity 2019 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 500 | ||
Loans Payable [Member] | Predecessor [Member] | Final Maturity 2020 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 999 | ||
Loans Payable [Member] | Predecessor [Member] | Final Maturity 2021 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 1,498 | ||
Loans Payable [Member] | Predecessor [Member] | Final Maturity 2023 and thereafter | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 3,188 | ||
Loans Payable [Member] | Predecessor [Member] | Term Loan Facility due 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 500 | ||
Loans Payable [Member] | Predecessor [Member] | Other Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 22 | ||
Loans Payable [Member] | Predecessor [Member] | Foreign Currency Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 29 | ||
Medium-term Notes [Member] | Successor [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 110 | |
Long-term Debt, Weighted Average Interest Rate | 1.22% | ||
Medium-term Notes [Member] | Predecessor [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 111 | ||
[1] | The Successor period includes the reflection of debt at fair value at the date of the Merger. See Note 3 for additional information regarding the Merger. |
Short-Term Borrowings, Long-101
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Maturities of Long-Term Debt (Details) - Successor [Member] $ in Millions | Dec. 31, 2017USD ($) | [1] |
Debt Instrument [Line Items] | ||
Repayments of Principal 2018 | $ 1,286 | |
Repayments of Principal 2019 | 2,005 | |
Repayments of Principal 2020 | 3,005 | |
Repayments of Principal 2021 | 1,505 | |
Repayments of Principal 2022 | $ 2 | |
[1] | Excludes unamortized debt step-up premium. |
Short-Term Borrowings, Long-102
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Long Term Debt Narrative (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Successor [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Fair Value | $ 10,250 | |
Predecessor [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Fair Value | $ 8,460 |
Short-Term Borrowings, Long-103
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Committed and Available Credit Facilities (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Mar. 22, 2016 |
Term Loan Facility due 2019 [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 4,500 | |
Successor [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,500 | |
Line of Credit Facility, Remaining Borrowing Capacity | 5,950 | |
Successor [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 3,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | 2,950 | |
Successor [Member] | Term Loan Facility due 2019 [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 4,500 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 3,000 |
Short-Term Borrowings, Long-104
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Available Committed Credit Facilities (Narrative) (Details) $ in Millions | 36 Months Ended | |||
Mar. 22, 2019 | Dec. 31, 2017USD ($) | May 02, 2017USD ($) | Mar. 22, 2016USD ($) | |
Successor [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,500 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 5,950 | |||
Senior Note Floating Rate Due 2020 [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt Instrument, Face Amount | $ 750 | |||
Senior Note 2.20 Percent Due 2020 [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt Instrument, Face Amount | $ 1,250 | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.20% | |||
Term Loan Facility due 2019 [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 4,500 | |||
Line of Credit Facility, Number of Borrowings | 7 | |||
Term Loan Facility due 2019 [Member] | Scenario, Forecast [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt Instrument, Term | 3 years | |||
Term Loan Facility due 2019 [Member] | Successor [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 4,500 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 3,000 | |||
Borrowings under Term Loan Facility | $ 1,500 |
Commitments and Contingent L105
Commitments and Contingent Liabilities Guarantee Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Successor [Member] | |||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | $ 297 | ||
Predecessor [Member] | |||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | $ 388 | ||
Customer and Supplier Guarantee, Bank Borrowings [Member] | Successor [Member] | |||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | [1] | $ 89 | |
Guarantor Obligations, Liquidation Proceeds, Percentage | 23.00% | ||
[1] | Existing guarantees for customers and suppliers, as part of contractual agreements. |
Commitments and Contingent L106
Commitments and Contingent Liabilities Guarantees (Details) $ in Millions | Dec. 31, 2017USD ($) | |
Successor [Member] | ||
Guarantor Obligations [Line Items] | ||
Guarantee Obligations | $ 297 | |
Customer and Supplier Guarantee, Bank Borrowings [Member] | ||
Guarantor Obligations [Line Items] | ||
Guaranteed Obligations, Maximum Term, Years | 5 years | |
Customer and Supplier Guarantee, Bank Borrowings [Member] | Successor [Member] | ||
Guarantor Obligations [Line Items] | ||
Guarantee Obligations | $ 89 | [1] |
Equity Affiliates Guarantee, Bank Borrowings [Member] | ||
Guarantor Obligations [Line Items] | ||
Guaranteed Obligations, Maximum Term, Months | 12 months | |
Equity Affiliates Guarantee, Bank Borrowings [Member] | Successor [Member] | ||
Guarantor Obligations [Line Items] | ||
Guarantee Obligations | $ 161 | [2] |
Chemours Purchase Obligations [Member] | ||
Guarantor Obligations [Line Items] | ||
Guaranteed Obligations, Maximum Term, Months | 12 months | |
Chemours Purchase Obligations [Member] | Successor [Member] | ||
Guarantor Obligations [Line Items] | ||
Guarantee Obligations | $ 10 | [3] |
Residual Value Guarantee [Member] | ||
Guarantor Obligations [Line Items] | ||
Guaranteed Obligations, Maximum Term, Years | 12 years | |
Residual Value Guarantee [Member] | Successor [Member] | ||
Guarantor Obligations [Line Items] | ||
Guarantee Obligations | $ 37 | [4] |
[1] | Existing guarantees for customers and suppliers, as part of contractual agreements. | |
[2] | Existing guarantees for non-consolidated affiliates' liquidity needs in normal operations. | |
[3] | Guarantee for Chemours' raw material purchase obligations under agreement with third party supplier. | |
[4] | The company provides guarantees related to leased assets specifying the residual value that will be available to the lessor at lease termination through sale of the assets to the lessee or third parties. |
Commitments and Contingent L107
Commitments and Contingent Liabilities Operating Leases (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Future Minimum Lease Payments 2018 | $ 264 | |||
Future Minimum Lease Payments 2019 | 190 | |||
Future Minimum Lease Payments 2020 | 137 | |||
Future Minimum Lease Payments 2021 | 104 | |||
Future Minimum Lease Payments 2022 | 81 | |||
Future Minimum Lease Payments Thereafter | 268 | |||
Non-cancelable minimum sublease rentals | 3 | |||
Successor [Member] | ||||
Net rental expense | $ 105 | |||
Predecessor [Member] | ||||
Net rental expense | $ 179 | $ 242 | $ 266 |
Commitments and Contingent L108
Commitments and Contingent Liabilities Litigation (Details) | Dec. 31, 2017USD ($)lawsuits | Dec. 31, 2017USD ($)lawsuits | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($)lawsuits | Dec. 31, 2004USD ($) | Jan. 01, 2012 |
PFOA Matters: Multi-District Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Limited Sharing of Potential Future Liabilities, Period | 5 years | |||||
Period for sharing for PFOA liabilities | 5 years | |||||
Loss Contingency, Limited Sharing of Potential Future Liabilities, Third-Party Annual Liability Threshold | $ 25,000,000 | $ 25,000,000 | $ 25,000,000 | |||
PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Number Of Water Districts Receiving Water Treatment | 6 | |||||
PFOA Matters: Multi-District Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Disease Categories for MDL | 6 | 6 | 6 | |||
Lawsuits alleging personal injury filed | lawsuits | 3,550 | 3,550 | 3,550 | |||
Litigation Settlement, Amount Awarded to Other Party | $ 670,700,000 | |||||
Successor [Member] | PFOA Matters: Multi-District Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Indemnification Assets | $ 15,000,000 | $ 15,000,000 | $ 15,000,000 | |||
Accrual balance | 15,000,000 | 15,000,000 | 15,000,000 | |||
Successor [Member] | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Escrow Deposit | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | |||
Predecessor [Member] | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Binding Settlement Agreement Class Size | 80,000 | |||||
Litigation Settlement, Liability For Medical Monitoring Program, Threshold | $ 235,000,000 | |||||
Predecessor [Member] | Payment for Plaintiffs Attorney Fees [Member] | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Plaintiffs' attorneys' fees and expenses | 23,000,000 | |||||
Predecessor [Member] | Payment to fund community health project [Member] | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Payments to fund community health project | $ 70,000,000 | |||||
WEST VIRGINIA | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Pending Claims, Number | 5 | 5 | 5 | |||
OHIO | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Pending Claims, Number | 4 | 4 | 4 | |||
NEW YORK | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Number of Plaintiffs | 5 | |||||
Loss Contingency, Pending Claims, Number | 3 | 3 | 3 | |||
NORTH CAROLINA | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Pending Claims, Number | 3 | 3 | 3 | |||
Loss Contingency, Number of Additional Plaintiffs | 2 | |||||
Chemours [Member] | PFOA Matters: Multi-District Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Additional annual PFOA liabilities for the next five years paid by Chemours | $ 25,000,000 | $ 25,000,000 | $ 25,000,000 |
Commitments and Contingent L109
Commitments and Contingent Liabilities Environmental (Details) $ in Millions | Dec. 31, 2017USD ($) |
Successor [Member] | |
Loss Contingencies [Line Items] | |
Accrual for Environmental Loss Contingencies | $ 433 |
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual | 920 |
Predecessor [Member] | |
Loss Contingencies [Line Items] | |
Accrual for Environmental Loss Contingencies | 457 |
Superfund Sites [Member] | Successor [Member] | |
Loss Contingencies [Line Items] | |
Accrual for Environmental Loss Contingencies | 67 |
Superfund Sites [Member] | Predecessor [Member] | |
Loss Contingencies [Line Items] | |
Accrual for Environmental Loss Contingencies | 50 |
Chemours [Member] | Successor [Member] | |
Loss Contingencies [Line Items] | |
Accrual for Environmental Loss Contingencies | 242 |
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual | 430 |
Indemnification Agreement [Member] | Chemours [Member] | Successor [Member] | |
Loss Contingencies [Line Items] | |
Indemnification Assets | 242 |
Indemnification Agreement [Member] | Chemours [Member] | Superfund Sites [Member] | Successor [Member] | |
Loss Contingencies [Line Items] | |
Indemnification Assets | $ 47 |
Stockholders' Equity Share Buyb
Stockholders' Equity Share Buyback Program (Details) - Predecessor [Member] - USD ($) $ in Millions | 6 Months Ended | 8 Months Ended | 12 Months Ended | 23 Months Ended | 43 Months Ended | |||
Dec. 31, 2016 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Aug. 31, 2017 | Jan. 21, 2015 | Jan. 31, 2014 | |
Equity, Class of Treasury Stock [Line Items] | ||||||||
Shares Repurchased and Retired During Period | (13,152,000) | (39,564,000) | ||||||
Payments for Repurchase of Common Stock | $ 0 | $ 916 | $ 2,353 | |||||
2015 Share Buyback Plan [Member] | ||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||
2015 Share Buy Back Announcement | $ 4,000 | |||||||
Shares Repurchased and Retired During Period | 13,200,000 | 48,200,000 | ||||||
Payments for Repurchase of Common Stock | $ 916 | $ 2,916 | ||||||
2014 Share Buyback Plan [Member] | ||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||
Stock Repurchase Program, Authorized Amount | $ 5,000 | |||||||
Shares Repurchased and Retired During Period | 34,700,000 | |||||||
Payments for Repurchase of Common Stock | $ 2,353 | |||||||
Year ended December 31, 2015 [Member] | 2015 Share Buyback Plan [Member] | ||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||
Stock Repurchase Program, Authorized Amount | $ 2,000 | |||||||
Year ended December 31, 2015 [Member] | 2014 Share Buyback Plan [Member] | ||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||
Shares Repurchased and Retired During Period | 4,600,000 | |||||||
Payments for Repurchase of Common Stock | $ 353 |
Stockholders' Equity Stockholde
Stockholders' Equity Stockholders' Equity (Narrative) (Details) - USD ($) $ in Millions | Aug. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2014 |
Predecessor [Member] | ||||||
Class of Stock [Line Items] | ||||||
Treasury Stock, Shares | 87,041,000 | 0 | 87,041,000 | 87,041,000 | 87,041,000 | |
Excess of Cost of Treasury Stock over Par Value | $ 0 | $ 0 | $ 0 | |||
Tax benefit (expense) recorded in Stockholders' Equity | 33 | (138) | ||||
Tax benefits | 21 | 37 | ||||
Successor [Member] | ||||||
Class of Stock [Line Items] | ||||||
Treasury Stock, Shares | 0 | 0 | ||||
Retained Earnings [Member] | Predecessor [Member] | ||||||
Class of Stock [Line Items] | ||||||
Excess of Cost of Treasury Stock over Par Value | $ 5,657 | $ 5,657 | 758 | 1,890 | ||
Additional Paid-in Capital [Member] | Predecessor [Member] | ||||||
Class of Stock [Line Items] | ||||||
Excess of Cost of Treasury Stock over Par Value | $ 1,044 | $ 1,044 | $ 154 | $ 451 |
Stockholders' Equity Reconcilia
Stockholders' Equity Reconciliation of Common Stock Share Activity (Details) - shares | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Predecessor [Member] | |||||
Class of Stock [Line Items] | |||||
Common Stock, Shares, Outstanding, Beginning Balance | 868,338,000 | 950,044,000 | 958,388,000 | 992,020,000 | |
Shares Issued During Period | 0 | 5,335,000 | 4,808,000 | 5,932,000 | |
Shares Repurchased and Retired During Period | (13,152,000) | (39,564,000) | |||
Shares Retired During the Period | (87,041,000) | ||||
Common Stock, Shares, Outstanding, Ending Balance | 868,338,000 | 950,044,000 | 958,388,000 | ||
Treasury Stock Shares, Beginning of Period | 0 | (87,041,000) | (87,041,000) | (87,041,000) | |
Treasury Stock Shares Repurchased During Period | (13,152,000) | (39,564,000) | |||
Treasury Stock Shares Retired During Period | 87,041,000 | 13,152,000 | 39,564,000 | ||
Treasury Stock Shares, End of Period | 0 | (87,041,000) | (87,041,000) | ||
Successor [Member] | |||||
Class of Stock [Line Items] | |||||
Common Stock, Shares, Outstanding, Beginning Balance | [1] | 100 | |||
Common Stock, Shares, Outstanding, Ending Balance | [1] | 100 | 100 | ||
Treasury Stock Shares, Beginning of Period | 0 | ||||
Treasury Stock Shares, End of Period | 0 | 0 | |||
[1] | All of the company's issued and outstanding common stock at September 1, 2017 is held by the DowDuPont Inc. |
Stockholders' Equity Other Comp
Stockholders' Equity Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Predecessor [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | $ 12,517 | $ 10,196 | $ 10,200 | $ 13,378 | |||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 321 | 335 | 297 | ||||
Net other comprehensive income (loss) | 1,289 | (515) | (1,308) | ||||
Ending Balance | 12,517 | 10,196 | 10,200 | ||||
Predecessor [Member] | Cumulative Translation Adjustment | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | (1,801) | (2,843) | (2,333) | (919) | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | [1] | 1,042 | (510) | (1,605) | |||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | 0 | 0 | ||||
Net other comprehensive income (loss) | 1,042 | (510) | (1,605) | ||||
Spin-off of Chemours | 191 | ||||||
Ending Balance | (1,801) | (2,843) | (2,333) | ||||
Predecessor [Member] | Derivative Instruments | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | (3) | 7 | (24) | (6) | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 3 | 20 | (25) | ||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | (13) | 11 | 7 | ||||
Net other comprehensive income (loss) | (10) | 31 | (18) | ||||
Spin-off of Chemours | 0 | ||||||
Ending Balance | (3) | 7 | (24) | ||||
Predecessor [Member] | Unrealized gain (loss) on investments | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | 2 | 2 | (18) | 2 | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 1 | (8) | (17) | ||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | (1) | 28 | (2) | ||||
Net other comprehensive income (loss) | 0 | 20 | (19) | ||||
Spin-off of Chemours | (1) | ||||||
Ending Balance | 2 | 2 | (18) | ||||
Predecessor [Member] | Total | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | (8,622) | (9,911) | (9,396) | (8,556) | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 968 | (850) | (1,605) | ||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 321 | 335 | 297 | ||||
Net other comprehensive income (loss) | 1,289 | (515) | (1,308) | ||||
Spin-off of Chemours | 468 | ||||||
Ending Balance | (8,622) | (9,911) | (9,396) | ||||
Successor [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | 75,081 | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | ||||||
Net other comprehensive income (loss) | (381) | ||||||
Ending Balance | 74,932 | 75,081 | |||||
Successor [Member] | Cumulative Translation Adjustment | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | [2] | 0 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | [1] | (454) | |||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | ||||||
Net other comprehensive income (loss) | (454) | ||||||
Ending Balance | (454) | 0 | [2] | ||||
Successor [Member] | Derivative Instruments | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | [2] | 0 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (2) | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | ||||||
Net other comprehensive income (loss) | (2) | ||||||
Ending Balance | (2) | 0 | [2] | ||||
Successor [Member] | Unrealized gain (loss) on investments | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | [2] | 0 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | ||||||
Net other comprehensive income (loss) | 0 | ||||||
Ending Balance | 0 | 0 | [2] | ||||
Successor [Member] | Total | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | [2] | 0 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (381) | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | ||||||
Net other comprehensive income (loss) | (381) | ||||||
Ending Balance | (381) | 0 | [2] | ||||
Other Benefit Plans | Predecessor [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | (347) | (357) | 22 | 262 | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | (81) | 3 | ||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 10 | (298) | (243) | ||||
Net other comprehensive income (loss) | 10 | (379) | (240) | ||||
Spin-off of Chemours | 0 | ||||||
Ending Balance | (347) | (357) | 22 | ||||
Other Benefit Plans | Successor [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | [2] | 0 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (53) | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | ||||||
Net other comprehensive income (loss) | (53) | ||||||
Ending Balance | (53) | 0 | [2] | ||||
Pension Plan | Predecessor [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | (6,473) | (6,720) | (7,043) | (7,895) | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (78) | (271) | [3] | 39 | |||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 325 | 594 | 535 | ||||
Net other comprehensive income (loss) | 247 | 323 | 574 | ||||
Spin-off of Chemours | 278 | ||||||
Ending Balance | (6,473) | $ (6,720) | $ (7,043) | ||||
Pension Plan | Successor [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||
Beginning Balance | [2] | 0 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 128 | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | ||||||
Net other comprehensive income (loss) | 128 | ||||||
Ending Balance | $ 128 | $ 0 | [2] | ||||
[1] | The cumulative translation adjustment loss for the period September 1 through December 31, 2017 is primarily driven by the strengthening of the U.S dollar (USD) against the European Euro (EUR) and the Brazilian real (BRL). The cumulative translation adjustment gain for the period January 1 through August 31, 2017 is primarily driven by the weakening of the USD against the EUR. The currency translation loss for the year ended December 31, 2016 is primarily driven by the strengthening of the USD against the EUR partially offset by the weakening of the USD against the BRL. The currency translation loss for the year ended December 31, 2015 is driven by the strengthening USD against primarily the EUR and BRL. | ||||||
[2] | In connection with the Merger, balances in accumulated other comprehensive loss at Merger Effectiveness Time were eliminated as a result of reflecting the balance sheet at fair value as of the date of the Merger. See Note 3 and 16 for further information regarding the Merger and pension and OPEB plans, respectively. | ||||||
[3] | The Pension Benefit Plans loss recognized in other comprehensive (loss) income during the year ended December 31, 2016 includes the impact of the remeasurement of the principal U.S. pension plan as of June 30, 2016. See Note 16 for additional information. |
Stockholders' Equity Tax Benefi
Stockholders' Equity Tax Benefit (Expense) on Net Activity (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | $ (21) | |||
Successor [Member] | Derivative Instruments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | 1 | |||
Predecessor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | $ (144) | $ 12 | $ (175) | |
Predecessor [Member] | Derivative Instruments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | 6 | (19) | 7 | |
Pension Plan | Successor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | (37) | |||
Pension Plan | Predecessor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | (145) | (163) | (317) | |
Other Benefit Plans | Successor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | $ 15 | |||
Other Benefit Plans | Predecessor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | $ (5) | $ 194 | $ 135 |
Stockholders' Equity Reclassifi
Stockholders' Equity Reclassifications out of AOCI (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2017 | [1] | Aug. 31, 2017 | Dec. 31, 2017 | [1] | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Successor [Member] | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Cost of Goods Sold | $ 1,511 | $ 4,654 | $ 6,165 | |||||||||||||
Income Tax Expense (Benefit) | (2,673) | |||||||||||||||
Income from continuing operations after income taxes | 1,087 | |||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | |||||||||||||||
Successor [Member] | Derivative Instruments | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Cost of Goods Sold | [2] | 0 | ||||||||||||||
Income Tax Expense (Benefit) | [3] | 0 | ||||||||||||||
Income from continuing operations after income taxes | 0 | |||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | |||||||||||||||
Successor [Member] | Unrealized gain (loss) on investments | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [4] | 0 | ||||||||||||||
Reclassification from AOCI, Current Period, Tax | [3] | 0 | ||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | |||||||||||||||
Predecessor [Member] | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Cost of Goods Sold | $ 1,975 | $ 4,021 | $ 4,209 | $ 3,032 | $ 2,997 | $ 3,823 | $ 4,103 | $ 10,205 | $ 13,955 | $ 14,591 | ||||||
Income Tax Expense (Benefit) | 149 | 641 | 575 | |||||||||||||
Income from continuing operations after income taxes | 1,642 | 2,082 | 1,447 | |||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 321 | 335 | 297 | |||||||||||||
Predecessor [Member] | Derivative Instruments | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Cost of Goods Sold | [2] | (21) | 18 | 12 | ||||||||||||
Income Tax Expense (Benefit) | [3] | 8 | (7) | (5) | ||||||||||||
Income from continuing operations after income taxes | (13) | 11 | 7 | |||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (13) | 11 | 7 | |||||||||||||
Predecessor [Member] | Unrealized gain (loss) on investments | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [4] | (1) | 28 | (2) | ||||||||||||
Reclassification from AOCI, Current Period, Tax | [3] | 0 | 0 | 0 | ||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (1) | 28 | (2) | |||||||||||||
Pension Plan | Successor [Member] | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | |||||||||||||||
Pension Plan | Successor [Member] | Prior Service Benefit | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | ||||||||||||||
Pension Plan | Successor [Member] | Actuarial Losses | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | ||||||||||||||
Pension Plan | Successor [Member] | Curtailment (loss) gain | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | ||||||||||||||
Pension Plan | Successor [Member] | Settlement loss | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | ||||||||||||||
Pension Plan | Successor [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 0 | |||||||||||||||
Reclassification from AOCI, Current Period, Tax | [3] | 0 | ||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | |||||||||||||||
Pension Plan | Predecessor [Member] | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 325 | 594 | 535 | |||||||||||||
Pension Plan | Predecessor [Member] | Prior Service Benefit | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | (3) | (6) | (9) | ||||||||||||
Pension Plan | Predecessor [Member] | Actuarial Losses | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 506 | 822 | 768 | ||||||||||||
Pension Plan | Predecessor [Member] | Curtailment (loss) gain | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | 40 | (6) | ||||||||||||
Pension Plan | Predecessor [Member] | Settlement loss | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | 62 | 76 | ||||||||||||
Pension Plan | Predecessor [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 503 | 918 | 829 | |||||||||||||
Reclassification from AOCI, Current Period, Tax | [3] | (178) | (324) | (294) | ||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 325 | 594 | 535 | |||||||||||||
Other Benefit Plans | Successor [Member] | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | |||||||||||||||
Other Benefit Plans | Successor [Member] | Prior Service Benefit | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | ||||||||||||||
Other Benefit Plans | Successor [Member] | Actuarial Losses | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | ||||||||||||||
Other Benefit Plans | Successor [Member] | Curtailment (loss) gain | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | ||||||||||||||
Other Benefit Plans | Successor [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 0 | |||||||||||||||
Reclassification from AOCI, Current Period, Tax | [3] | 0 | ||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 0 | |||||||||||||||
Other Benefit Plans | Predecessor [Member] | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 10 | (298) | (243) | |||||||||||||
Other Benefit Plans | Predecessor [Member] | Prior Service Benefit | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | (46) | (134) | (182) | ||||||||||||
Other Benefit Plans | Predecessor [Member] | Actuarial Losses | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 61 | 78 | 78 | ||||||||||||
Other Benefit Plans | Predecessor [Member] | Curtailment (loss) gain | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [5] | 0 | (392) | (274) | ||||||||||||
Other Benefit Plans | Predecessor [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent | ||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 15 | (448) | (378) | |||||||||||||
Reclassification from AOCI, Current Period, Tax | [3] | (5) | 150 | 135 | ||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 10 | $ (298) | $ (243) | |||||||||||||
[1] | Includes charges of $(360) million and $(1,109) million during the period September 1 - September 30, 2017 and the fourth quarter 2017, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business, which was included in cost of goods sold. See Note 3 for additional information. | |||||||||||||||
[2] | Cost of goods sold. | |||||||||||||||
[3] | Provision for income taxes from continuing operations. | |||||||||||||||
[4] | Sundry income - net. | |||||||||||||||
[5] | These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost of the company's pension and other benefit plans. See Note 16 for additional information. |
Pension Plans and Other Post116
Pension Plans and Other Post Employment Benefit Plans Additional Information (Details) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||
Nov. 30, 2017USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2017USD ($) | Aug. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Nov. 30, 2016 | |
U.S. Retirement Savings Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer Matching Contribution, Percent of Match | 100.00% | |||||||
Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | |||||||
Employer Discretionary Contribution Percent | 3.00% | |||||||
Employers Discretionary Contribution, Vesting Period | 3 years | |||||||
Pension Plan | Funded Pension Plans other than Principal U.S. Plan and Remaining Plans with no Plan Assets [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Expected Future Employer Contributions, Next Fiscal Year | $ 200 | $ 200 | ||||||
Other Post Employment Benefits Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Expected Amortization of Gain (Loss), Next Fiscal Year | 1 | 1 | ||||||
Expected Future Employer Contributions, Next Fiscal Year | 250 | 250 | ||||||
Predecessor [Member] | Remaining Plans with no Plan Assets [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | $ 57 | $ 184 | $ 144 | |||||
Predecessor [Member] | U.S. Retirement Savings Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | 129 | 187 | 219 | |||||
Predecessor [Member] | DuPont Other Contribution Plans [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | 33 | 33 | 57 | |||||
Predecessor [Member] | Pension Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Remeasurement Impact Benefit Obligation | 527 | |||||||
Curtailment loss (gain) | $ (25) | 0 | 40 | $ (6) | ||||
Employer contributions | $ 3,024 | $ 535 | ||||||
Discount Rate | 3.80% | 3.42% | 3.80% | |||||
Expected long-term rate of return on plan assets | 7.66% | 7.74% | 8.10% | |||||
Predecessor [Member] | Pension Plan | Principal U.S. Pension Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Curtailment loss (gain) | $ 63 | |||||||
Employer contributions | $ 2,900 | $ 230 | ||||||
Lump-Sum Payments | $ 550 | |||||||
Expected long-term rate of return on plan assets | 8.00% | 8.00% | 8.50% | |||||
Predecessor [Member] | Pension Plan | Other Pension Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | $ 67 | $ 121 | $ 164 | |||||
Predecessor [Member] | Other Post Employment Benefits Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Eligible Employee Age Threshold | 50 | |||||||
Curtailment loss (gain) | $ (357) | 0 | (392) | (274) | ||||
Pre-tax cash requirements to cover actual net claims costs and related administrative expenses | 166 | 218 | 237 | |||||
Employer contributions | $ 166 | $ 218 | ||||||
Discount Rate | 4.03% | 3.62% | 4.03% | |||||
Successor [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Trust Asset | $ 558 | 558 | ||||||
Successor [Member] | Other Pension Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | 34 | |||||||
Successor [Member] | Remaining Plans with no Plan Assets [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | 34 | |||||||
Successor [Member] | U.S. Retirement Savings Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | 53 | |||||||
Successor [Member] | DuPont Other Contribution Plans [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | 17 | |||||||
Successor [Member] | Pension Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Curtailment loss (gain) | 0 | |||||||
Employer contributions | 68 | |||||||
Remeasurement Impact Underfunded Status | $ 560 | |||||||
Discount Rate | 3.37% | 3.37% | ||||||
Expected long-term rate of return on plan assets | 6.24% | |||||||
Successor [Member] | Pension Plan | Principal U.S. Pension Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Lump-Sum Payments | $ 140 | |||||||
Expected long-term rate of return on plan assets | 6.25% | |||||||
Successor [Member] | Other Post Employment Benefits Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Remeasurement Impact Benefit Obligation | $ 41 | |||||||
Curtailment loss (gain) | 0 | |||||||
Pre-tax cash requirements to cover actual net claims costs and related administrative expenses | 59 | |||||||
Employer contributions | $ 59 | |||||||
Discount Rate | 3.56% | 3.56% | ||||||
Nonqualified Plan [Member] | Successor [Member] | Trust Agreement [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Contributions to Trust | $ 571 | |||||||
Trust Asset Distribution | $ 13 | |||||||
Trust Asset | $ 558 | $ 558 | ||||||
Discontinued Operations [Member] | Predecessor [Member] | DuPont Other Contribution Plans [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | $ 5 | $ 6 | $ 39 | |||||
Discontinued Operations [Member] | Successor [Member] | DuPont Other Contribution Plans [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | $ 1 | |||||||
2016 Global Cost Savings and Restructuring Plan [Member] | Predecessor [Member] | Other Post Employment Benefits Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Curtailment loss (gain) | $ (35) |
Pension Plans and Other Post117
Pension Plans and Other Post Employment Benefit Plans Weighted Average Assumptions used to Determine Benefit Obligations - Pension (Details) - Pension Plan | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount Rate | 3.37% | |||
Rate of increase in future compensation levels | [1] | 4.04% | ||
Predecessor [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount Rate | 3.42% | 3.80% | ||
Rate of increase in future compensation levels | [1] | 3.80% | ||
[1] | The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant's entire career at the company. |
Pension Plans and Other Post118
Pension Plans and Other Post Employment Benefit Plans Weighted Average Assumptions used to Determine Net Periodic Benefit Cost - Pension (Details) - Pension Plan | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 3.42% | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.80% | |||
Expected long-term rate of return on plan assets | 6.24% | |||
Successor [Member] | Principal U.S. Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 3.73% | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.95% | |||
Expected long-term rate of return on plan assets | 6.25% | |||
Predecessor [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 3.80% | 3.77% | 3.93% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.80% | 3.96% | 4.01% | |
Expected long-term rate of return on plan assets | 7.66% | 7.74% | 8.10% | |
Predecessor [Member] | Principal U.S. Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 4.16% | 4.04% | 4.29% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.95% | 4.15% | 4.20% | |
Expected long-term rate of return on plan assets | 8.00% | 8.00% | 8.50% |
Pension Plans and Other Post119
Pension Plans and Other Post Employment Benefit Plans Weighted Average Assumptions used to Determine Benefit Obligations and Periodic Benefit Cost - OPEB (Details) - Other Post Employment Benefits Plan | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 3.62% | |||
Discount Rate | 3.56% | |||
Predecessor [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 4.03% | 3.87% | 4.13% | |
Discount Rate | 3.62% | 4.03% |
Pension Plans and Other Post120
Pension Plans and Other Post Employment Benefit Plans Assumed Health Care Cost Trend Rates (Details) - Other Post Employment Benefits Plan | 4 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Health care cost trend rate assumed for next year | 6.40% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | |
Year that the rate reached the ultimate health care cost trend rate | 2,023 | |
Predecessor [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Health care cost trend rate assumed for next year | 7.00% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | |
Year that the rate reached the ultimate health care cost trend rate | 2,023 |
Pension Plans and Other Post121
Pension Plans and Other Post Employment Benefit Plans Change in Projected Benefit Obligations, Plan Assets and Funded Status (Details) - USD ($) $ in Millions | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Benefit obligation at end of the period | $ 389 | $ 389 | |||||||
Successor [Member] | Pension Plan | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Benefit obligation at beginning of the period | [1] | 26,036 | |||||||
Service Cost | 49 | ||||||||
Interest Cost | 247 | ||||||||
Plan participants' contributions | 6 | ||||||||
Actuarial (gain) loss | (23) | ||||||||
Benefits Paid | (730) | ||||||||
Plan amendments | 0 | ||||||||
Net effects of acquisitions / divestitures / other | 22 | ||||||||
Effect of foreign exchange rates | (57) | ||||||||
Benefit obligation at end of the period | 25,550 | 25,550 | $ 26,036 | [1] | |||||
Fair value of plan assets at beginning of period | [1] | 20,395 | |||||||
Actual return on plan assets | 549 | ||||||||
Employer contributions | 68 | ||||||||
Plan participants' contributions | 6 | ||||||||
Benefits paid | [2] | (730) | |||||||
Net effects of acquisitions / divestitures / other | 29 | ||||||||
Effect of foreign exchange rates | (33) | ||||||||
Fair value of plan assets at end of the period | 20,284 | 20,284 | 20,395 | [1] | |||||
Funded (unfunded) status of plan | (5,266) | (5,266) | |||||||
Successor [Member] | Pension Plan | Principal U.S. Pension Plan [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Lump-Sum Payments | 140 | ||||||||
Successor [Member] | Pension Plan | U.S. Plans with Plan Assets [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | (3,628) | (3,628) | |||||||
Successor [Member] | Pension Plan | Non-U.S. plans with plan assets [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | (447) | (447) | |||||||
Successor [Member] | Pension Plan | All other plans [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | [3],[4] | (1,191) | (1,191) | ||||||
Successor [Member] | Pension Plan | Plans of Discontinued Operations [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | 0 | 0 | |||||||
Successor [Member] | Other Post Employment Benefits Plan | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Benefit obligation at beginning of the period | [1] | 2,772 | |||||||
Service Cost | 3 | ||||||||
Interest Cost | 26 | ||||||||
Plan participants' contributions | 12 | ||||||||
Actuarial (gain) loss | 68 | ||||||||
Benefits Paid | (71) | ||||||||
Plan amendments | 0 | ||||||||
Net effects of acquisitions / divestitures / other | 0 | ||||||||
Effect of foreign exchange rates | 0 | ||||||||
Benefit obligation at end of the period | 2,810 | 2,810 | 2,772 | [1] | |||||
Fair value of plan assets at beginning of period | [1] | 0 | |||||||
Actual return on plan assets | 0 | ||||||||
Employer contributions | 59 | ||||||||
Plan participants' contributions | 12 | ||||||||
Benefits paid | (71) | ||||||||
Net effects of acquisitions / divestitures / other | 0 | ||||||||
Effect of foreign exchange rates | 0 | ||||||||
Fair value of plan assets at end of the period | 0 | 0 | 0 | [1] | |||||
Funded (unfunded) status of plan | (2,810) | (2,810) | |||||||
Successor [Member] | Other Post Employment Benefits Plan | U.S. Plans with Plan Assets [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | 0 | 0 | |||||||
Successor [Member] | Other Post Employment Benefits Plan | Non-U.S. plans with plan assets [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | 0 | 0 | |||||||
Successor [Member] | Other Post Employment Benefits Plan | All other plans [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | (2,810) | (2,810) | |||||||
Successor [Member] | Other Post Employment Benefits Plan | Plans of Discontinued Operations [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | $ 0 | 0 | |||||||
Predecessor [Member] | Pension Plan | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Benefit obligation at beginning of the period | 24,766 | 24,831 | $ 26,094 | ||||||
Service Cost | 92 | 174 | $ 232 | ||||||
Interest Cost | 524 | 800 | 1,084 | ||||||
Plan participants' contributions | 8 | 18 | |||||||
Actuarial (gain) loss | 0 | 460 | |||||||
Benefits Paid | (1,118) | (2,374) | |||||||
Plan amendments | 0 | 0 | |||||||
Net effects of acquisitions / divestitures / other | 0 | 7 | |||||||
Effect of foreign exchange rates | 429 | (348) | |||||||
Benefit obligation at end of the period | $ 24,831 | 24,766 | 24,831 | 26,094 | |||||
Fair value of plan assets at beginning of period | 19,685 | 16,656 | 17,497 | ||||||
Actual return on plan assets | 846 | 1,219 | |||||||
Employer contributions | 3,024 | 535 | |||||||
Plan participants' contributions | 8 | 18 | |||||||
Benefits paid | (1,118) | (2,374) | [2] | ||||||
Net effects of acquisitions / divestitures / other | 0 | 0 | |||||||
Effect of foreign exchange rates | 269 | (239) | |||||||
Fair value of plan assets at end of the period | 16,656 | 19,685 | 16,656 | 17,497 | |||||
Funded (unfunded) status of plan | (8,175) | (5,081) | (8,175) | ||||||
Predecessor [Member] | Pension Plan | Principal U.S. Pension Plan [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Employer contributions | 2,900 | 230 | |||||||
Lump-Sum Payments | 550 | ||||||||
Predecessor [Member] | Pension Plan | U.S. Plans with Plan Assets [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | (6,391) | (3,277) | (6,391) | ||||||
Predecessor [Member] | Pension Plan | Non-U.S. plans with plan assets [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | (674) | (609) | (674) | ||||||
Predecessor [Member] | Pension Plan | All other plans [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | (1,102) | (1,187) | (1,102) | ||||||
Predecessor [Member] | Pension Plan | Plans of Discontinued Operations [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | (8) | (8) | (8) | ||||||
Predecessor [Member] | Other Post Employment Benefits Plan | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Benefit obligation at beginning of the period | 2,731 | 2,829 | 2,758 | ||||||
Service Cost | 6 | 11 | 15 | ||||||
Interest Cost | 60 | 87 | 112 | ||||||
Plan participants' contributions | 26 | 36 | |||||||
Actuarial (gain) loss | 0 | 153 | |||||||
Benefits Paid | (192) | (254) | |||||||
Plan amendments | 0 | (28) | |||||||
Net effects of acquisitions / divestitures / other | 0 | 65 | |||||||
Effect of foreign exchange rates | 2 | 1 | |||||||
Benefit obligation at end of the period | 2,829 | 2,731 | 2,829 | 2,758 | |||||
Fair value of plan assets at beginning of period | $ 0 | 0 | 0 | ||||||
Actual return on plan assets | 0 | 0 | |||||||
Employer contributions | 166 | 218 | |||||||
Plan participants' contributions | 26 | 36 | |||||||
Benefits paid | (192) | (254) | |||||||
Net effects of acquisitions / divestitures / other | 0 | 0 | |||||||
Effect of foreign exchange rates | 0 | 0 | |||||||
Fair value of plan assets at end of the period | 0 | 0 | 0 | $ 0 | |||||
Funded (unfunded) status of plan | (2,829) | (2,731) | (2,829) | ||||||
Predecessor [Member] | Other Post Employment Benefits Plan | U.S. Plans with Plan Assets [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | 0 | 0 | 0 | ||||||
Predecessor [Member] | Other Post Employment Benefits Plan | Non-U.S. plans with plan assets [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | 0 | 0 | 0 | ||||||
Predecessor [Member] | Other Post Employment Benefits Plan | All other plans [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | (2,829) | (2,731) | (2,829) | ||||||
Predecessor [Member] | Other Post Employment Benefits Plan | Plans of Discontinued Operations [Member] | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||
Funded (unfunded) status of plan | $ 0 | $ 0 | $ 0 | ||||||
[1] | The benefit obligation and the fair value of plan assets at the beginning of the period September 1 through December 31, 2017, reflects the remeasurement of the plans at the Merger Effectiveness Time. | ||||||||
[2] | In the fourth quarter of 2016, about $550 million of lump-sum payments were made from the principal U.S. pension plan trust fund to a group of separated, vested plan participants who were extended a limited-time opportunity and voluntarily elected to receive their pension benefits in a single lump-sum payment. In the fourth quarter of 2017, about $140 million of lump-sum payments were made from the principal U.S. pension plan trust fund under a similar program. | ||||||||
[3] | As of December 31, 2017, $389 million of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below. | ||||||||
[4] | Includes pension plans maintained around the world where funding is not customary. |
Pension Plans and Other Post122
Pension Plans and Other Post Employment Benefit Plans Amounts Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 25,100 | ||
Noncurrent liabilities | (7,787) | ||
Successor [Member] | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Other Assets | 47 | ||
Net amount recognized | (5,266) | ||
Net (gain) loss | (165) | ||
Prior service benefit | 0 | ||
Pretax balance in accumulated other comprehensive (income) loss at end of year | (165) | ||
Successor [Member] | Other Post Employment Benefits Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Other Assets | 0 | ||
Net amount recognized | (2,810) | ||
Net (gain) loss | 68 | ||
Prior service benefit | 0 | ||
Pretax balance in accumulated other comprehensive (income) loss at end of year | 68 | ||
Predecessor [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 24,300 | ||
Predecessor [Member] | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Other Assets | 3 | ||
Net amount recognized | (8,175) | ||
Net (gain) loss | 10,280 | ||
Prior service benefit | (17) | ||
Pretax balance in accumulated other comprehensive (income) loss at end of year | 10,263 | ||
Predecessor [Member] | Other Post Employment Benefits Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Other Assets | 0 | ||
Net amount recognized | (2,829) | ||
Net (gain) loss | 830 | ||
Prior service benefit | (281) | ||
Pretax balance in accumulated other comprehensive (income) loss at end of year | 549 | ||
Accrued and Other Current Liabilities [Member] | Successor [Member] | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Current liabilities | (86) | ||
Accrued and Other Current Liabilities [Member] | Successor [Member] | Other Post Employment Benefits Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Current liabilities | (250) | ||
Accrued and Other Current Liabilities [Member] | Predecessor [Member] | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Current liabilities | (78) | ||
Accrued and Other Current Liabilities [Member] | Predecessor [Member] | Other Post Employment Benefits Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Current liabilities | (275) | ||
Liabilities held for sale - current [Member] | Successor [Member] | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Current liabilities | 0 | ||
Liabilities held for sale - current [Member] | Successor [Member] | Other Post Employment Benefits Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Current liabilities | 0 | ||
Liabilities held for sale - current [Member] | Predecessor [Member] | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Current liabilities | (8) | ||
Liabilities held for sale - current [Member] | Predecessor [Member] | Other Post Employment Benefits Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Current liabilities | 0 | ||
Pension and other post employment benefits - noncurrent [Member] | Successor [Member] | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Noncurrent liabilities | [1] | (5,227) | |
Pension and other post employment benefits - noncurrent [Member] | Successor [Member] | Other Post Employment Benefits Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Noncurrent liabilities | [1] | (2,560) | |
Other Noncurrent Obligations [Member] | Successor [Member] | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Noncurrent liabilities | [1] | 0 | |
Other Noncurrent Obligations [Member] | Successor [Member] | Other Post Employment Benefits Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Noncurrent liabilities | [1] | $ 0 | |
Other Noncurrent Obligations [Member] | Predecessor [Member] | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Noncurrent liabilities | [1] | (8,092) | |
Other Noncurrent Obligations [Member] | Predecessor [Member] | Other Post Employment Benefits Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Noncurrent liabilities | [1] | $ (2,554) | |
[1] | In the Successor Period, non-current pension and OPEB liabilities are included within pension and other post employment benefits - noncurrent in the Consolidated Balance Sheets. In the Predecessor period, these liabilities are included within other noncurrent obligations. |
Pension Plans and Other Post123
Pension Plans and Other Post Employment Benefit Plans Pension Plans with Projected Benefit Obligations in Excess of Plan Assets (Details) - Pension Plan - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Successor [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Projected benefit obligations | $ 25,254 | |
Accumulated benefit obligations | 24,864 | |
Fair value of plan assets | $ 19,941 | |
Predecessor [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Projected benefit obligations | $ 24,779 | |
Accumulated benefit obligations | 24,297 | |
Fair value of plan assets | $ 16,601 |
Pension Plans and Other Post124
Pension Plans and Other Post Employment Benefit Plans Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets (Details) - Pension Plan - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Successor [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | $ 24,625 | |
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 24,315 | |
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Fair Value of Plan Assets | $ 19,335 | |
Predecessor [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | $ 23,946 | |
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 23,591 | |
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Fair Value of Plan Assets | $ 15,838 |
Pension Plans and Other Post125
Pension Plans and Other Post Employment Benefit Plans Components of net periodic benefit cost (credit) and amounts recognized in other comprehensive loss (Details) - USD ($) $ in Millions | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service Cost | $ 49 | ||||
Interest Cost | 247 | ||||
Expected return on plan assets | (407) | ||||
Amortization of unrecognized loss | 0 | ||||
Amortization of prior service benefit | 0 | ||||
Curtailment loss (gain) | 0 | ||||
Settlement loss | 0 | ||||
Net periodic benefit cost (credit) | (111) | ||||
Net (gain) loss | (165) | ||||
Amortization of unrecognized loss | 0 | ||||
Prior service benefit | 0 | ||||
Amortization of prior service benefit | 0 | ||||
Curtailment (loss) gain | 0 | ||||
Settlement loss | 0 | ||||
Effect of foreign exchange rates | 0 | ||||
Spin-off of Chemours | 0 | ||||
Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont | (165) | ||||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | (276) | ||||
Successor [Member] | Other Post Employment Benefits Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service Cost | 3 | ||||
Interest Cost | 26 | ||||
Expected return on plan assets | 0 | ||||
Amortization of unrecognized loss | 0 | ||||
Amortization of prior service benefit | 0 | ||||
Curtailment loss (gain) | 0 | ||||
Settlement loss | 0 | ||||
Net periodic benefit cost (credit) | 29 | ||||
Net (gain) loss | 68 | ||||
Amortization of unrecognized loss | 0 | ||||
Prior service benefit | 0 | ||||
Amortization of prior service benefit | 0 | ||||
Curtailment (loss) gain | 0 | ||||
Settlement loss | 0 | ||||
Effect of foreign exchange rates | 0 | ||||
Spin-off of Chemours | 0 | ||||
Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont | 68 | ||||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | 97 | ||||
Predecessor [Member] | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service Cost | $ 92 | $ 174 | $ 232 | ||
Interest Cost | 524 | 800 | 1,084 | ||
Expected return on plan assets | (824) | (1,320) | (1,554) | ||
Amortization of unrecognized loss | 506 | 822 | 768 | ||
Amortization of prior service benefit | (3) | (6) | (9) | ||
Curtailment loss (gain) | $ 25 | 0 | (40) | 6 | |
Settlement loss | 0 | 62 | 76 | ||
Net periodic benefit cost (credit) | 295 | 572 | 591 | ||
Net (gain) loss | (22) | 570 | 57 | ||
Amortization of unrecognized loss | (506) | (822) | (768) | ||
Prior service benefit | 0 | 0 | 0 | ||
Amortization of prior service benefit | 3 | 6 | 9 | ||
Curtailment (loss) gain | 0 | (40) | 6 | ||
Settlement loss | 0 | (62) | (76) | ||
Effect of foreign exchange rates | 133 | (138) | (119) | ||
Spin-off of Chemours | 0 | 0 | (382) | ||
Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont | (392) | (486) | (1,273) | ||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | (97) | 86 | (682) | ||
Predecessor [Member] | Other Post Employment Benefits Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service Cost | 6 | 11 | 15 | ||
Interest Cost | 60 | 87 | 112 | ||
Expected return on plan assets | 0 | 0 | 0 | ||
Amortization of unrecognized loss | 61 | 78 | 78 | ||
Amortization of prior service benefit | (46) | (134) | (182) | ||
Curtailment loss (gain) | $ 357 | 0 | 392 | 274 | |
Settlement loss | 0 | 0 | 0 | ||
Net periodic benefit cost (credit) | 81 | (350) | (251) | ||
Net (gain) loss | 0 | 153 | (4) | ||
Amortization of unrecognized loss | (61) | (78) | (78) | ||
Prior service benefit | 0 | (28) | 0 | ||
Amortization of prior service benefit | 46 | 134 | 182 | ||
Curtailment (loss) gain | 0 | 392 | 274 | ||
Settlement loss | 0 | 0 | 0 | ||
Effect of foreign exchange rates | 0 | 0 | 1 | ||
Spin-off of Chemours | 0 | 0 | 0 | ||
Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont | (15) | 573 | 375 | ||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | 66 | 223 | 124 | ||
Discontinued Operations [Member] | Successor [Member] | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost (credit) | 1 | ||||
Discontinued Operations [Member] | Successor [Member] | Other Post Employment Benefits Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost (credit) | 0 | ||||
Discontinued Operations [Member] | Predecessor [Member] | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost (credit) | 3 | 0 | 0 | ||
Discontinued Operations [Member] | Predecessor [Member] | Other Post Employment Benefits Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost (credit) | 0 | 0 | (272) | ||
Continuing Operations [Member] | Successor [Member] | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost (credit) | (112) | ||||
Continuing Operations [Member] | Successor [Member] | Other Post Employment Benefits Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost (credit) | $ 29 | ||||
Continuing Operations [Member] | Predecessor [Member] | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost (credit) | 292 | 572 | 591 | ||
Continuing Operations [Member] | Predecessor [Member] | Other Post Employment Benefits Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost (credit) | $ 81 | $ (350) | $ 21 |
Pension Plans and Other Post126
Pension Plans and Other Post Employment Benefit Plans Estimated Future Benefit Payments (Details) - Successor [Member] $ in Millions | Dec. 31, 2017USD ($) |
Pension Plan | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2,018 | $ 1,636 |
2,019 | 1,614 |
2,020 | 1,600 |
2,021 | 1,587 |
2,022 | 1,568 |
2023-2027 | 7,533 |
Total | 15,538 |
Postemployment Retirement Benefits [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2,018 | 250 |
2,019 | 243 |
2,020 | 236 |
2,021 | 227 |
2,022 | 218 |
2023-2027 | 906 |
Total | $ 2,080 |
Pension Plans and Other Post127
Pension Plans and Other Post Employment Benefit Plans Target Allocation for Plan Assets (Details) - Pension Plan | Dec. 31, 2017 | Dec. 31, 2016 |
Successor [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 100.00% | |
Successor [Member] | Fixed Income Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 50.00% | |
Successor [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 2.00% | |
Successor [Member] | Private Market Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 8.00% | |
Successor [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 3.00% | |
Successor [Member] | Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 2.00% | |
Successor [Member] | UNITED STATES | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 17.00% | |
Successor [Member] | Non-US [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 18.00% | |
Predecessor [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 100.00% | |
Predecessor [Member] | Fixed Income Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 33.00% | |
Predecessor [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 2.00% | |
Predecessor [Member] | Private Market Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 8.00% | |
Predecessor [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 4.00% | |
Predecessor [Member] | Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 2.00% | |
Predecessor [Member] | UNITED STATES | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 27.00% | |
Predecessor [Member] | Non-US [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 24.00% |
Pension Plans and Other Post128
Pension Plans and Other Post Employment Benefit Plans Basis of Fair Value Measurement (Details) - Pension Plan - USD ($) $ in Millions | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Successor [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | $ 20,284 | $ 20,395 | [1] | |||
Fair Value of Plan Assets, Excluding Trust Receivables and payables and assets measured at NAV | 17,765 | |||||
Investments Measured at Net Asset Value | 2,567 | |||||
Pension Trust Receivables | [2] | 127 | ||||
Pension Trust Payables | [3] | (175) | ||||
Successor [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 10,961 | |||||
Successor [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 6,643 | |||||
Successor [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 161 | 181 | ||||
Successor [Member] | Cash and Cash Equivalents [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,057 | |||||
Successor [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,057 | |||||
Successor [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | US Treasury and Government [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,263 | |||||
Successor [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 497 | |||||
Successor [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2,766 | |||||
Successor [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | Corporate Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,181 | |||||
Successor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 270 | |||||
Successor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2,884 | |||||
Successor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 27 | 46 | ||||
Successor [Member] | Asset-backed Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 706 | |||||
Successor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 17 | |||||
Successor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 687 | |||||
Successor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | 2 | ||||
Successor [Member] | Hedge Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 85 | |||||
Investments Measured at Net Asset Value | 747 | |||||
Successor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 83 | |||||
Successor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | 0 | ||||
Successor [Member] | Private Market Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 14 | |||||
Investments Measured at Net Asset Value | 1,383 | |||||
Successor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 14 | 17 | ||||
Successor [Member] | Real Estate [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 342 | |||||
Investments Measured at Net Asset Value | 437 | |||||
Successor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 239 | |||||
Successor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 7 | |||||
Successor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 96 | 98 | ||||
Successor [Member] | Derivative, Asset [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 24 | |||||
Successor [Member] | Derivative, Asset [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3 | |||||
Successor [Member] | Derivative, Asset [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 21 | |||||
Successor [Member] | Derivative, Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | Derivative, Liability [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | (16) | |||||
Successor [Member] | Derivative, Liability [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | Derivative, Liability [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | (16) | |||||
Successor [Member] | Derivative, Liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | Other Investments [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | |||||
Successor [Member] | Other Investments [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | Other Investments [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | |||||
Successor [Member] | Other Investments [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Successor [Member] | UNITED STATES | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [4] | 4,043 | ||||
Successor [Member] | UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 4,012 | |||||
Successor [Member] | UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 14 | |||||
Successor [Member] | UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 17 | 16 | ||||
Successor [Member] | Non-US [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,064 | |||||
Successor [Member] | Non-US [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2,866 | |||||
Successor [Member] | Non-US [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 195 | |||||
Successor [Member] | Non-US [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3 | 2 | ||||
Predecessor [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 19,685 | $ 16,656 | $ 17,497 | |||
Fair Value of Plan Assets, Excluding Trust Receivables and payables and assets measured at NAV | 14,470 | |||||
Investments Measured at Net Asset Value | 2,294 | |||||
Pension Trust Receivables | [5] | 264 | ||||
Pension Trust Payables | [6] | (372) | ||||
Predecessor [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 9,997 | |||||
Predecessor [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 4,275 | |||||
Predecessor [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 181 | 198 | 238 | |||
Predecessor [Member] | Cash and Cash Equivalents [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 1,505 | |||||
Predecessor [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 1,480 | |||||
Predecessor [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 25 | |||||
Predecessor [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Predecessor [Member] | US Treasury and Government [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2,067 | |||||
Predecessor [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 864 | |||||
Predecessor [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 1,203 | |||||
Predecessor [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Predecessor [Member] | Corporate Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2,475 | |||||
Predecessor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 273 | |||||
Predecessor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2,163 | |||||
Predecessor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 46 | 39 | 34 | |||
Predecessor [Member] | Asset-backed Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 721 | |||||
Predecessor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 39 | |||||
Predecessor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 682 | |||||
Predecessor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | 0 | 1 | |||
Predecessor [Member] | Hedge Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 1 | |||||
Investments Measured at Net Asset Value | 434 | |||||
Predecessor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Predecessor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 1 | |||||
Predecessor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | 0 | 0 | |||
Predecessor [Member] | Private Market Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 67 | |||||
Investments Measured at Net Asset Value | 1,416 | |||||
Predecessor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Predecessor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 25 | |||||
Predecessor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 17 | 42 | 37 | |||
Predecessor [Member] | Real Estate [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 275 | |||||
Investments Measured at Net Asset Value | 444 | |||||
Predecessor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 175 | |||||
Predecessor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | |||||
Predecessor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 98 | 98 | 144 | |||
Predecessor [Member] | Derivative, Asset [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 53 | |||||
Predecessor [Member] | Derivative, Asset [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 7 | |||||
Predecessor [Member] | Derivative, Asset [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 46 | |||||
Predecessor [Member] | Derivative, Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Predecessor [Member] | Derivative, Liability [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | (47) | |||||
Predecessor [Member] | Derivative, Liability [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Predecessor [Member] | Derivative, Liability [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | (47) | |||||
Predecessor [Member] | Derivative, Liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Predecessor [Member] | Other Investments [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 4 | |||||
Predecessor [Member] | Other Investments [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Predecessor [Member] | Other Investments [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 4 | |||||
Predecessor [Member] | Other Investments [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | |||||
Predecessor [Member] | UNITED STATES | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [7] | 4,071 | ||||
Predecessor [Member] | UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 4,033 | |||||
Predecessor [Member] | UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 20 | |||||
Predecessor [Member] | UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 16 | 18 | 20 | |||
Predecessor [Member] | Non-US [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,278 | |||||
Predecessor [Member] | Non-US [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,126 | |||||
Predecessor [Member] | Non-US [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 151 | |||||
Predecessor [Member] | Non-US [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | $ 2 | 1 | $ 2 | |||
DowDuPont [Member] | Common Stock [Member] | Successor [Member] | UNITED STATES | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Amount of Employer and Related Party Securities Included in Plan Assets | $ 910 | |||||
Amount of Employer and Related Party Securities Included in Plan Assets, Percent | 4.00% | |||||
DuPont [Member] | Common Stock [Member] | Predecessor [Member] | UNITED STATES | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Amount of Employer and Related Party Securities Included in Plan Assets | $ 732 | |||||
Amount of Employer and Related Party Securities Included in Plan Assets, Percent | 4.00% | |||||
[1] | The benefit obligation and the fair value of plan assets at the beginning of the period September 1 through December 31, 2017, reflects the remeasurement of the plans at the Merger Effectiveness Time. | |||||
[2] | Primarily receivables for investments securities sold. | |||||
[3] | Primarily payables for investment securities purchased | |||||
[4] | The DuPont pension plans directly held $910 million (4 percent of total plan assets) of DowDuPont common stock at December 31, 2017. | |||||
[5] | Primarily receivables for investments securities sold. | |||||
[6] | Primarily payables for investment securities purchased. | |||||
[7] | The DuPont pension plans directly held $732 million (4 percent of total plan assets) of DuPont common stock at December 31, 2016. |
Pension Plans and Other Post129
Pension Plans and Other Post Employment Benefit Plans Summary of Fair Value Measurement of Level 3 Pension Plan Assets (Details) - Pension Plan - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Predecessor [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | $ 19,685 | $ 16,656 | $ 17,497 | |||
Predecessor [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 181 | 198 | 238 | |||
Actual Return (Loss) on Plan Assets Sold | (19) | (28) | ||||
Actual Return (Loss) on Plan Assets Still Held | 15 | 19 | ||||
Purchases, Sales, and Settlements | 0 | (37) | ||||
Assets Transferred into (out of) Level 3 | (13) | 6 | ||||
Predecessor [Member] | Corporate Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2,475 | |||||
Predecessor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 46 | 39 | 34 | |||
Actual Return (Loss) on Plan Assets Sold | (20) | (25) | ||||
Actual Return (Loss) on Plan Assets Still Held | 22 | 27 | ||||
Purchases, Sales, and Settlements | (1) | (3) | ||||
Assets Transferred into (out of) Level 3 | 6 | 6 | ||||
Predecessor [Member] | Asset-backed Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 721 | |||||
Predecessor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | 0 | 1 | |||
Actual Return (Loss) on Plan Assets Sold | 0 | 0 | ||||
Actual Return (Loss) on Plan Assets Still Held | 0 | 0 | ||||
Purchases, Sales, and Settlements | 0 | (1) | ||||
Assets Transferred into (out of) Level 3 | 2 | 0 | ||||
Predecessor [Member] | Hedge Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 1 | |||||
Predecessor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | 0 | 0 | |||
Actual Return (Loss) on Plan Assets Sold | 0 | 0 | ||||
Actual Return (Loss) on Plan Assets Still Held | 0 | 0 | ||||
Purchases, Sales, and Settlements | 0 | 0 | ||||
Assets Transferred into (out of) Level 3 | 0 | 0 | ||||
Predecessor [Member] | Private Market Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 67 | |||||
Predecessor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 17 | 42 | 37 | |||
Actual Return (Loss) on Plan Assets Sold | 0 | 0 | ||||
Actual Return (Loss) on Plan Assets Still Held | (5) | 2 | ||||
Purchases, Sales, and Settlements | 1 | 3 | ||||
Assets Transferred into (out of) Level 3 | (21) | 0 | ||||
Predecessor [Member] | Real Estate [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 275 | |||||
Predecessor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 98 | 98 | 144 | |||
Actual Return (Loss) on Plan Assets Sold | 0 | 0 | ||||
Actual Return (Loss) on Plan Assets Still Held | 7 | (10) | ||||
Purchases, Sales, and Settlements | (7) | (36) | ||||
Assets Transferred into (out of) Level 3 | 0 | 0 | ||||
Successor [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | $ 20,284 | 20,395 | [1] | |||
Successor [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 161 | 181 | ||||
Actual Return (Loss) on Plan Assets Sold | (3) | |||||
Actual Return (Loss) on Plan Assets Still Held | 6 | |||||
Purchases, Sales, and Settlements | (23) | |||||
Successor [Member] | Corporate Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,181 | |||||
Successor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 27 | 46 | ||||
Actual Return (Loss) on Plan Assets Sold | (3) | |||||
Actual Return (Loss) on Plan Assets Still Held | 5 | |||||
Purchases, Sales, and Settlements | (21) | |||||
Successor [Member] | Asset-backed Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 706 | |||||
Successor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | 2 | ||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||
Actual Return (Loss) on Plan Assets Still Held | 0 | |||||
Purchases, Sales, and Settlements | 0 | |||||
Successor [Member] | Hedge Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 85 | |||||
Successor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | 0 | ||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||
Actual Return (Loss) on Plan Assets Still Held | 0 | |||||
Purchases, Sales, and Settlements | 2 | |||||
Successor [Member] | Private Market Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 14 | |||||
Successor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 14 | 17 | ||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||
Actual Return (Loss) on Plan Assets Still Held | (3) | |||||
Purchases, Sales, and Settlements | 0 | |||||
Successor [Member] | Real Estate [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 342 | |||||
Successor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 96 | 98 | ||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||
Actual Return (Loss) on Plan Assets Still Held | 4 | |||||
Purchases, Sales, and Settlements | (6) | |||||
UNITED STATES | Predecessor [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [2] | 4,071 | ||||
UNITED STATES | Predecessor [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 16 | 18 | 20 | |||
Actual Return (Loss) on Plan Assets Sold | (1) | (3) | ||||
Actual Return (Loss) on Plan Assets Still Held | (7) | 1 | ||||
Purchases, Sales, and Settlements | 6 | 0 | ||||
Assets Transferred into (out of) Level 3 | 0 | 0 | ||||
UNITED STATES | Successor [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [3] | 4,043 | ||||
UNITED STATES | Successor [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 17 | 16 | ||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||
Actual Return (Loss) on Plan Assets Still Held | 1 | |||||
Purchases, Sales, and Settlements | 0 | |||||
Non-US [Member] | Predecessor [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,278 | |||||
Non-US [Member] | Predecessor [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 2 | 1 | $ 2 | |||
Actual Return (Loss) on Plan Assets Sold | 2 | 0 | ||||
Actual Return (Loss) on Plan Assets Still Held | (2) | (1) | ||||
Purchases, Sales, and Settlements | 1 | 0 | ||||
Assets Transferred into (out of) Level 3 | 0 | $ 0 | ||||
Non-US [Member] | Successor [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3,064 | |||||
Non-US [Member] | Successor [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 3 | $ 2 | ||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||
Actual Return (Loss) on Plan Assets Still Held | (1) | |||||
Purchases, Sales, and Settlements | $ 2 | |||||
[1] | The benefit obligation and the fair value of plan assets at the beginning of the period September 1 through December 31, 2017, reflects the remeasurement of the plans at the Merger Effectiveness Time. | |||||
[2] | The DuPont pension plans directly held $732 million (4 percent of total plan assets) of DuPont common stock at December 31, 2016. | |||||
[3] | The DuPont pension plans directly held $910 million (4 percent of total plan assets) of DowDuPont common stock at December 31, 2017. |
Pension Plans and Other Post130
Pension Plans and Other Post Employment Benefit Plans Net Asset Value as a Practical Expedient (Details) - Pension Plan - USD ($) $ in Millions | 4 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of funds with gates in place for year-end redemptions (less than 5 percent) | 5.00% | |
Lock Up Period | 1 year | |
Private Market Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average Remaining Life per Investment | 15 years | |
Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average Remaining Life per Investment | 15 years | |
Successor [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments Measured at Net Asset Value | $ 2,567 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 1,168 | |
Successor [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments Measured at Net Asset Value | 747 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 0 | |
Successor [Member] | Private Market Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments Measured at Net Asset Value | 1,383 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 797 | |
Successor [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments Measured at Net Asset Value | 437 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 371 | |
Predecessor [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments Measured at Net Asset Value | $ 2,294 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 937 | |
Predecessor [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments Measured at Net Asset Value | 434 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 0 | |
Predecessor [Member] | Private Market Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments Measured at Net Asset Value | 1,416 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 693 | |
Predecessor [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments Measured at Net Asset Value | 444 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 244 | |
Redemption Frequency, Monthly [Member] | Minimum [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Redemption Notice Period Range | 15 days | |
Redemption Frequency, Monthly [Member] | Maximum [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Redemption Notice Period Range | 45 days | |
Redemption Frequency, Quarterly [Member] | Minimum [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Redemption Notice Period Range | 10 days | |
Redemption Frequency, Quarterly [Member] | Maximum [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Redemption Notice Period Range | 185 days |
Stock-Based Compensation Stock
Stock-Based Compensation Stock Compensation (Narrative) (Details) - USD ($) $ in Millions | Aug. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Merger with Dow [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Fair value of DuPont equity awards converted | $ 629 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | [1] | 485 | ||||
Equity Awards converted but not yet earned | 144 | |||||
Incremental expense | $ 23 | |||||
Common Stock [Member] | Merger with Dow [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share exchange ratio, DuPont to DowDuPont | 1.2820 | |||||
Successor [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares Reserved for Future Issuance | 110,000,000 | 110,000,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 34,000,000 | |||||
Shares in excess must be counted against maximum number of shares granted | 30,000,000 | |||||
Stock-based compensation cost included in income from continuing operations | $ 33 | |||||
Tax Benefit from Compensation Expense | 11 | |||||
Successor [Member] | Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Tax Benefit from Compensation Expense | $ 6 | |||||
Predecessor [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock-based compensation cost included in income from continuing operations | $ 85 | $ 118 | $ 127 | |||
Tax Benefit from Compensation Expense | 29 | $ 39 | $ 42 | |||
Predecessor [Member] | Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Tax Benefit from Compensation Expense | $ 36 | |||||
[1] | Represents the fair value of replacement awards issued for DuPont's equity awards outstanding immediately before the Merger and attributable to the service periods prior to the Merger. The previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock. |
Stock-Based Compensation Sto132
Stock-Based Compensation Stock Options (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Aug. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock Option Award Vesting Period | 3 years | |||||
Stock Option Award Requisite Service Period | 6 months | |||||
Grants between 2010 and 2015 [Member] | Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock Option, Expiration Period | 7 years | |||||
Grants in 2016 and 2017 [Member] | Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock Option, Expiration Period | 10 years | |||||
Successor [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Tax Benefit from Compensation Expense | $ 11 | |||||
Unrecognized Pretax Compensation Expense Related to Stock Options | $ 24 | $ 24 | ||||
Successor [Member] | Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-Average Grant Date Fair Value, Stock Options | $ 28.56 | |||||
Total Intrinsic Value of Stock Options Exercised | $ 19 | |||||
Tax Benefit from Compensation Expense | $ 6 | |||||
Remaining Weighted-Average Recognition Period | 1 year 314 days | |||||
Predecessor [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Tax Benefit from Compensation Expense | $ 29 | $ 39 | $ 42 | |||
Predecessor [Member] | Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-Average Grant Date Fair Value, Stock Options | $ 16.65 | $ 13.40 | $ 11.57 | |||
Total Intrinsic Value of Stock Options Exercised | $ 108 | $ 86 | $ 160 | |||
Tax Benefit from Compensation Expense | $ 36 |
Stock-Based Compensation Weight
Stock-Based Compensation Weighted Average Assumptions - Stock Options (Details) - Employee Stock Option [Member] | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Predecessor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Dividend Yield | 2.00% | 2.60% | 2.50% | |
Expected Volatility | 23.21% | 28.27% | 22.52% | |
Risk Free Interest Rate | 2.30% | 1.80% | 1.40% | |
Expected life of stock options granted during period | 7 years 73 days | 7 years 73 days | 5 years 110 days | |
Successor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Dividend Yield | 2.20% | |||
Expected Volatility | 23.59% | |||
Risk Free Interest Rate | 2.10% | |||
Expected life of stock options granted during period | 7 years 73 days |
Stock-Based Compensation Sto134
Stock-Based Compensation Stock Option Activity Rollforward (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 4 Months Ended | 8 Months Ended | ||
Dec. 31, 2017 | Aug. 31, 2017 | |||
Predecessor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options outstanding, beginning of period | 12,830 | 15,696 | ||
Stock options granted during period | 1,626 | |||
Options exercised during period | (4,356) | |||
Option forfeited/expired during period | (136) | |||
Options outstanding, end of period | 12,830 | |||
Options Exercisable at End of Period | 8,441 | |||
Options Outstanding at beginning of period, Weighted Average Exercise Price | $ 61.84 | $ 58.11 | ||
Options Granted during period, Weighted Average Exercise Price | 76.18 | |||
Options Exercised during period, Weighted Average Exercise Price | 54.52 | |||
Options Forfeited/Expired during period, Weighted Average Exercise Price | 60.93 | |||
Options Outstanding at end of period, Weighted Average Exercise Price | 61.84 | |||
Options Exercisable at End of Period, Weighted Average Exercise Price | $ 57.78 | |||
Weighted Average Remaining Contractual Term | 4 years 259 days | |||
Options Exercisable at End of Period, Weighted Average Remaining Contractual Term | 3 years 135 days | |||
Aggregate Intrinsic Value | $ 283,365 | |||
Options Exercisable at End of Period, Aggregate Intrinsic Value | $ 220,716 | |||
Successor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options outstanding, beginning of period | [1] | 16,447 | ||
Stock options granted during period | 174 | |||
Options exercised during period | (702) | |||
Option forfeited/expired during period | (30) | |||
Options outstanding, end of period | 15,889 | 16,447 | [1] | |
Options Exercisable at End of Period | 10,881 | |||
Options Outstanding at beginning of period, Weighted Average Exercise Price | $ 48.24 | |||
Options Granted during period, Weighted Average Exercise Price | 45.29 | |||
Options Exercised during period, Weighted Average Exercise Price | 43.07 | |||
Options Forfeited/Expired during period, Weighted Average Exercise Price | 54.83 | |||
Options Outstanding at end of period, Weighted Average Exercise Price | 48.43 | $ 48.24 | ||
Options Exercisable at End of Period, Weighted Average Exercise Price | $ 45.75 | |||
Weighted Average Remaining Contractual Term | 3 years 270 days | |||
Options Exercisable at End of Period, Weighted Average Remaining Contractual Term | 3 years 22 days | |||
Aggregate Intrinsic Value | $ 362,088 | |||
Options Exercisable at End of Period, Aggregate Intrinsic Value | $ 277,163 | |||
[1] | As a result of the Merger, all previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock, as discussed above. As a result, the number of shares outstanding at September 1, 2017 represents the shares as of August 31, 2017 multiplied by the conversion factor. |
Stock-Based Compensation RSU an
Stock-Based Compensation RSU and PSU (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Nov. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
RSU and PSU Award Vesting Period | 3 years | ||||||
Conversion Ratio - DuPont RSUs to DowDuPont Common Stock | 1 | ||||||
RSU Requisite Service Period | 6 months | ||||||
Performance Deferred Stock Units [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
PSU, percentage of performance target | 0.00% | ||||||
Performance Deferred Stock Units [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
PSU, percentage of performance target | 200.00% | ||||||
Management [Member] | Restricted Stock Units (RSUs) [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
RSU and PSU Award Vesting Period | 2 years | ||||||
Management [Member] | Restricted Stock Units (RSUs) [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
RSU and PSU Award Vesting Period | 5 years | ||||||
Successor [Member] | Performance Deferred Stock Units [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted Average Grant Date Fair Value, Granted during Period | $ 71.16 | ||||||
Successor [Member] | Performance Deferred Stock Units [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
PSU, percentage of performance target | 0.00% | ||||||
Successor [Member] | Performance Deferred Stock Units [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
PSU, percentage of performance target | 200.00% | ||||||
Successor [Member] | Restricted Stock Units and Performance Deferred Stock Units [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted Average Grant Date Fair Value, Granted during Period | $ 70.02 | ||||||
Fair value of stock units vested | $ 9 | ||||||
Unrecognized Pretax Compensation Expense Related to RSUs | $ 113 | $ 113 | |||||
Remaining Weighted-Average Recognition Period | 1 year 266 days | ||||||
Predecessor [Member] | Performance Deferred Stock Units [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted Average Grant Date Fair Value, Granted during Period | $ 91.56 | ||||||
Predecessor [Member] | Restricted Stock Units and Performance Deferred Stock Units [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted Average Grant Date Fair Value, Granted during Period | $ 76.41 | $ 59.50 | $ 71.66 | ||||
Fair value of stock units vested | $ 84 | $ 83 | $ 64 |
Stock-Based Compensation RSU136
Stock-Based Compensation RSU and PSU Activity Rollforward (Details) - Restricted Stock Units and Performance Deferred Stock Units [Member] - $ / shares shares in Thousands | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Predecessor [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Nonvested Shares, Beginning of Period | 3,078 | [1] | 3,390 | ||||
Shares Granted during the Period | 1,124 | ||||||
Shares Vested during the Period | (1,332) | ||||||
Shares Forfeited during the Period | (104) | ||||||
Nonvested Shares, End of Period | 3,078 | [1] | 3,390 | ||||
Weighted Average Grant Date Fair Value, Beginning of Period | $ 67.53 | $ 63.11 | |||||
Weighted Average Grant Date Fair Value, Granted during Period | 76.41 | $ 59.50 | $ 71.66 | ||||
Weighted Average Grant Date Fair Value, Vested during Period | 63.08 | ||||||
Weighted Average Grant Date Fair Value, Forfeited during Period | 70.69 | ||||||
Weighted Average Grant Date Fair Value, End of Period | $ 67.53 | $ 63.11 | |||||
Successor [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Nonvested Shares, Beginning of Period | [1] | 3,948 | |||||
Shares Granted during the Period | 412 | ||||||
Shares Vested during the Period | (139) | ||||||
Shares Forfeited during the Period | (23) | ||||||
Nonvested Shares, End of Period | 4,198 | 3,948 | [1] | ||||
Weighted Average Grant Date Fair Value, Beginning of Period | $ 67.06 | ||||||
Weighted Average Grant Date Fair Value, Granted during Period | 70.02 | ||||||
Weighted Average Grant Date Fair Value, Vested during Period | 67.67 | ||||||
Weighted Average Grant Date Fair Value, Forfeited during Period | 66.65 | ||||||
Weighted Average Grant Date Fair Value, End of Period | $ 68.28 | $ 67.06 | |||||
[1] | As a result of the Merger, all previous DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock, as discussed above. As a result, the number of shares outstanding at September 1, 2017 represents the shares as of August 31, 2017 multiplied by the conversion factor. |
Stock-Based Compensation Other
Stock-Based Compensation Other Cash Based Awards (Narrative) (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense | $ 83 | |||
Predecessor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense | $ 264 | $ 295 | $ 179 |
Financial Instruments Financial
Financial Instruments Financial Instruments (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2017 | |
Predecessor [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Proceeds from Sale of Available-for-sale Securities | $ 788 | |
Cash Equivalents [Member] | Successor [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | $ 5,205 | |
Cash Equivalents [Member] | Predecessor [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 2,713 | |
Marketable Securities [Member] | Successor [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | $ 952 | |
Marketable Securities [Member] | Predecessor [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | $ 1,362 |
Financial Instruments Notional
Financial Instruments Notional Amounts (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Successor [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 587 | |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Predecessor [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 422 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Successor [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | 10,454 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Predecessor [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | 9,896 | |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Successor [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 6 | |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Predecessor [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 7 |
Financial Instruments Cash Flow
Financial Instruments Cash Flow Hedges Included in AOCI (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative, Remaining Maturity | 2 years | ||||
Successor [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Additions and revaluations of derivatives designated as cash flow hedges | $ 3 | ||||
Predecessor [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Additions and revaluations of derivatives designated as cash flow hedges | $ 5 | $ 32 | $ (37) | ||
Scenario, Forecast [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
After-tax net loss to be reclassified from AOCL into earnings over the next twelve months | (6) | ||||
Cash Flow Hedging [Member] | Successor [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Cash Flow Hedges Derivative Instruments at Fair Value, Beginning Balance | 0 | ||||
Additions and revaluations of derivatives designated as cash flow hedges | (2) | ||||
Clearance of hedge results to earnings | 0 | ||||
Cash Flow Hedges Derivative Instruments at Fair Value, Ending Balance | (2) | 0 | $ (2) | ||
Cash Flow Hedging [Member] | Predecessor [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Cash Flow Hedges Derivative Instruments at Fair Value, Beginning Balance | $ (3) | 7 | $ 7 | (24) | |
Additions and revaluations of derivatives designated as cash flow hedges | 3 | 20 | |||
Clearance of hedge results to earnings | (13) | 11 | |||
Cash Flow Hedges Derivative Instruments at Fair Value, Ending Balance | $ (3) | $ 7 | $ (24) |
Financial Instruments Fair Valu
Financial Instruments Fair Value of Derivatives (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Successor [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Asset, Gross | $ 46 | ||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1] | (37) | |
Derivative Asset | 9 | ||
Derivative Liability, Gross | 79 | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1] | (32) | |
Derivative Liability | 47 | ||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 5 | ||
Predecessor [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Asset, Gross | [2] | $ 182 | |
Derivative Liability, Gross | [2] | 121 | |
Derivatives Subject to Enforceable Master Netting Arrangements | 114 | ||
Other Current Assets [Member] | Not Designated as Hedging Instrument [Member] | Successor [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Asset, Gross | 46 | ||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1] | (37) | |
Derivative Asset | 9 | ||
Accrued and Other Current Liabilities [Member] | Predecessor [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative, Collateral, Obligation to Return Cash | [3] | 52 | |
Accrued and Other Current Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Successor [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Liability, Gross | 79 | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1] | (32) | |
Derivative Liability | $ 47 | ||
Accrued and Other Current Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Predecessor [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Liability, Gross | 121 | ||
Accounts and Notes Receivable [Member] | Not Designated as Hedging Instrument [Member] | Predecessor [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Asset, Gross | [3] | $ 182 | |
[1] | Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty. The company held cash collateral of $5 million as of December 31, 2017. | ||
[2] | The company's derivative assets and liabilities subject to enforceable master netting arrangements totaled $114 million at December 31, 2016. | ||
[3] | Cash collateral held as of December 31, 2016 is related to foreign currency derivatives not designated as hedging instruments. |
Financial Instruments Effect of
Financial Instruments Effect of Derivative Instruments (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Successor [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $ 3 | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax | 91 | ||||
Successor [Member] | Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 3 | ||||
Gain (Loss) on Hedging Activity | 0 | ||||
Successor [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 91 | ||||
Predecessor [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $ 5 | $ 32 | $ (37) | ||
Gain (Loss) on Derivative Instruments, Net, Pretax | (408) | (345) | 416 | ||
Predecessor [Member] | Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 5 | 32 | (37) | ||
Gain (Loss) on Hedging Activity | 21 | (18) | (13) | ||
Predecessor [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (429) | (327) | 429 | ||
Foreign Exchange Contract [Member] | Successor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 0 | ||||
Foreign Exchange Contract [Member] | Predecessor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 0 | 0 | (2) | ||
Foreign Exchange Contract [Member] | Net sales | Successor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Hedging Activity | [1],[2] | 0 | |||
Foreign Exchange Contract [Member] | Net sales | Successor [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [2] | 0 | |||
Foreign Exchange Contract [Member] | Net sales | Predecessor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Hedging Activity | [1],[2] | 0 | 0 | 10 | |
Foreign Exchange Contract [Member] | Net sales | Predecessor [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [2] | 0 | (12) | (3) | |
Foreign Exchange Contract [Member] | Sundry Income (Expense) | Successor [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [3] | 91 | |||
Foreign Exchange Contract [Member] | Sundry Income (Expense) | Predecessor [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [3] | (431) | (304) | 434 | |
Commodity Contract [Member] | Successor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 3 | ||||
Commodity Contract [Member] | Predecessor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 5 | 32 | (35) | ||
Commodity Contract [Member] | Cost of Goods Sold | Successor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Hedging Activity | [1],[4] | 0 | |||
Commodity Contract [Member] | Cost of Goods Sold | Successor [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [4] | 0 | |||
Commodity Contract [Member] | Cost of Goods Sold | Predecessor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Hedging Activity | [1],[4] | 21 | (18) | (22) | |
Commodity Contract [Member] | Cost of Goods Sold | Predecessor [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [4] | 2 | (11) | (2) | |
Interest Rate Swap [Member] | Cost of Goods Sold | Successor [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Hedging Activity | [4] | $ 0 | |||
Interest Rate Swap [Member] | Cost of Goods Sold | Predecessor [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Hedging Activity | [4] | $ 0 | $ 0 | $ (1) | |
[1] | For cash flow hedges, this represents the effective portion of the gain (loss) reclassified from accumulated OCI into income during the period. There was no material ineffectiveness with regard to the company's cash flow hedges during the period. | ||||
[2] | Recorded in net sales. | ||||
[3] | Gain recognized in sundry income - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 6 for additional information. | ||||
[4] | Recorded in cost of goods sold. |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Tables (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Predecessor [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | [1] | $ 182 | |
Derivative Liability | [1] | 121 | |
Predecessor [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-term Debt, Fair Value | 8,460 | ||
Predecessor [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents | [2] | 2,713 | |
Marketable Securities | 1,362 | ||
Assets at Fair Value | 4,257 | ||
Long-term Debt, Fair Value | [3] | 8,464 | |
Liabilities at Fair Value | 8,585 | ||
Predecessor [Member] | Foreign Exchange Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | [4] | 182 | |
Derivative Liability | [4] | $ 121 | |
Successor [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | $ 46 | ||
Derivative Liability | 79 | ||
Successor [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-term Debt, Fair Value | 10,250 | ||
Successor [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents | [5] | 5,205 | |
Marketable Securities | 952 | ||
Assets at Fair Value | 6,203 | ||
Long-term Debt, Fair Value | [6] | 11,560 | |
Liabilities at Fair Value | 11,639 | ||
Successor [Member] | Foreign Exchange Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | [7] | 46 | |
Derivative Liability | [7] | $ 79 | |
[1] | The company's derivative assets and liabilities subject to enforceable master netting arrangements totaled $114 million at December 31, 2016. | ||
[2] | Time deposits included in "Cash and cash equivalents" and money market funds included in "Other current assets" in the consolidated balance sheets are held at amortized cost, which approximates fair value. | ||
[3] | See Note 13 for information on fair value measurements of long-term debt. | ||
[4] | See Note 18 for the classification of derivatives in the consolidated balance sheets. | ||
[5] | Time deposits included in "Cash and cash equivalents" and money market funds included in "Other current assets" in the consolidated balance sheets are held at amortized cost, which approximates fair value. | ||
[6] | See Note 13 for information on fair value measurements of long-term debt. | ||
[7] | See Note 18 for the classification of derivatives in the consolidated balance sheets. |
Geographic and Product Line 144
Geographic and Product Line Information Revenue by Country (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Geographic Information Threshold | 10.00% | 10.00% | ||||||||||||
Predecessor [Member] | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | $ 2,991 | $ 6,971 | $ 7,319 | $ 4,903 | $ 4,646 | $ 6,646 | $ 7,014 | $ 17,281 | $ 23,209 | $ 23,657 | ||||
Predecessor [Member] | UNITED STATES | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 7,535 | 9,500 | 9,812 | |||||||||||
Predecessor [Member] | CANADA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 583 | 669 | 692 | |||||||||||
Predecessor [Member] | EMEA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | [1] | 3,927 | 5,251 | 5,483 | ||||||||||
Predecessor [Member] | Asia Pacific | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 3,844 | 5,407 | 5,292 | |||||||||||
Predecessor [Member] | Latin America | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | $ 1,392 | $ 2,382 | $ 2,378 | |||||||||||
Successor [Member] | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | $ 1,735 | $ 5,318 | $ 7,053 | |||||||||||
Successor [Member] | UNITED STATES | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 2,086 | |||||||||||||
Successor [Member] | CANADA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 139 | |||||||||||||
Successor [Member] | EMEA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | [1] | 1,689 | ||||||||||||
Successor [Member] | Asia Pacific | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | [2] | 2,047 | ||||||||||||
Successor [Member] | Latin America | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 1,092 | |||||||||||||
Successor [Member] | CHINA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | $ 818 | |||||||||||||
[1] | Europe, Middle East, and Africa (EMEA). | |||||||||||||
[2] | Net sales for China in the Successor period were $818 million. Net sales for China were less than 10 percent of consolidated net sales in all Predecessor periods. |
Geographic and Product Line 145
Geographic and Product Line Information Net Property by Country (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | $ 12,435 | |||
Successor [Member] | UNITED STATES | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | 7,708 | |||
Successor [Member] | CANADA | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | 170 | |||
Successor [Member] | EMEA | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | [1] | 2,867 | ||
Successor [Member] | Asia Pacific | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | 1,120 | |||
Successor [Member] | Latin America | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | $ 570 | |||
Predecessor [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | $ 8,851 | $ 9,414 | ||
Predecessor [Member] | UNITED STATES | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | 5,951 | 6,458 | ||
Predecessor [Member] | CANADA | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | 124 | 128 | ||
Predecessor [Member] | EMEA | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | [1] | 1,550 | 1,582 | |
Predecessor [Member] | Asia Pacific | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | 797 | 854 | ||
Predecessor [Member] | Latin America | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Net Property | $ 429 | $ 392 | ||
[1] | Europe, Middle East, and Africa (EMEA). |
Geographic and Product Line 146
Geographic and Product Line Information Sales by Principal Product Group (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Successor [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | $ 1,735 | $ 5,318 | $ 7,053 | ||||||||||
Successor [Member] | Agriculture [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 1,596 | ||||||||||||
Successor [Member] | Packaging & Specialty Plastics [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 544 | ||||||||||||
Successor [Member] | Electronics & Imaging [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 743 | ||||||||||||
Successor [Member] | Nutrition & Health [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 1,165 | ||||||||||||
Successor [Member] | Industrial Biosciences [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 573 | ||||||||||||
Successor [Member] | Transportation & Advanced Polymers [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 1,355 | ||||||||||||
Successor [Member] | Safety & Construction [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 1,074 | ||||||||||||
Successor [Member] | Other | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | $ 3 | ||||||||||||
Predecessor [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | $ 2,991 | $ 6,971 | $ 7,319 | $ 4,903 | $ 4,646 | $ 6,646 | $ 7,014 | $ 17,281 | $ 23,209 | $ 23,657 | |||
Predecessor [Member] | Agriculture [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 6,894 | 8,131 | 8,327 | ||||||||||
Predecessor [Member] | Packaging & Specialty Plastics [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 1,072 | 1,651 | 1,715 | ||||||||||
Predecessor [Member] | Electronics & Imaging [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 1,422 | 1,960 | 2,070 | ||||||||||
Predecessor [Member] | Nutrition & Health [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 2,129 | 3,268 | 3,256 | ||||||||||
Predecessor [Member] | Industrial Biosciences [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 1,022 | 1,500 | 1,478 | ||||||||||
Predecessor [Member] | Transportation & Advanced Polymers [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 2,608 | 3,599 | 3,591 | ||||||||||
Predecessor [Member] | Safety & Construction [Member] | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | 2,134 | 3,099 | 3,220 | ||||||||||
Predecessor [Member] | Other | |||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||
Net Sales | $ 0 | $ 1 | $ 0 |
Quaterly Financial Data Quarter
Quaterly Financial Data Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||||||||
Predecessor [Member] | ||||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||||
Net Sales | $ 2,991 | $ 6,971 | $ 7,319 | $ 4,903 | $ 4,646 | $ 6,646 | $ 7,014 | $ 17,281 | $ 23,209 | $ 23,657 | ||||||||||||
Cost of Goods Sold | 1,975 | 4,021 | 4,209 | 3,032 | 2,997 | 3,823 | 4,103 | 10,205 | 13,955 | 14,591 | ||||||||||||
Restructuring and Asset Related Charges - Net | 11 | [1] | 160 | [1] | 152 | [1] | 394 | [1] | 172 | [1] | (88) | [1] | 78 | [1] | 323 | 556 | 795 | |||||
Net income (loss) | (229) | [2] | 869 | [2] | 1,121 | [2],[3],[4] | 263 | [5] | 6 | [5] | 1,024 | [5] | 1,232 | [5],[6] | 1,761 | 2,525 | 1,959 | |||||
Net Income (Loss) Attributable to DuPont | $ (234) | $ 862 | $ 1,113 | $ 265 | $ 2 | $ 1,020 | $ 1,226 | $ 1,741 | $ 2,513 | $ 1,953 | ||||||||||||
Earnings per common share, continuing operations - basic | $ (0.30) | [7] | $ 0.82 | [7] | $ 1.35 | [7] | $ 0.19 | [7] | $ (0.08) | [7] | $ 1.03 | [7] | $ 1.23 | [7] | $ 1.86 | $ 2.36 | $ 1.60 | |||||
Earnings per common share, continuing operations - diluted | $ (0.30) | [7] | $ 0.82 | [7] | $ 1.34 | [7] | $ 0.19 | [7] | $ (0.08) | [7] | $ 1.02 | [7] | $ 1.22 | [7] | $ 1.85 | $ 2.35 | $ 1.59 | |||||
Successor [Member] | ||||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||||
Net Sales | $ 1,735 | $ 5,318 | $ 7,053 | |||||||||||||||||||
Cost of Goods Sold | 1,511 | [8] | 4,654 | [8] | 6,165 | |||||||||||||||||
Restructuring and Asset Related Charges - Net | 40 | [1] | 140 | [1] | 180 | |||||||||||||||||
Net income (loss) | (295) | [2],[8] | 1,305 | [2],[8],[9] | 1,010 | |||||||||||||||||
Net Income (Loss) Attributable to DuPont | $ (293) | $ 1,303 | $ 1,010 | |||||||||||||||||||
[1] | See Note 5 for additional information. | |||||||||||||||||||||
[2] | Includes charges of $(170) million, $(201) million, $(210) million, $(71) million, and $(243) million in the first quarter 2017, second quarter 2017, the period July 1 - August 31, 2017, the period September 1 - September 30, 2017, and the fourth quarter 2017, respectively, related to transaction costs associated with the Merger. Predecessor costs are recorded in selling, general and administrative expenses; Successor costs are recoded in integration and separation costs. See Note 3 for additional information. | |||||||||||||||||||||
[3] | First quarter 2017 included a gain of $162 million recorded in sundry income - net associated with the sale of the company's global food safety diagnostic business. See Note 4 for additional information. | |||||||||||||||||||||
[4] | First quarter 2017 included a tax benefit of $53 million, as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. | |||||||||||||||||||||
[5] | First, second, third and fourth quarter 2016 included charges of $(24) million, $(76) million, $(122) million, and $(164) million, respectively, recorded in selling, general and administrative expenses related to transaction costs associated with the Merger. See Note 3 for additional information. | |||||||||||||||||||||
[6] | First quarter 2016 included a gain of $369 million recorded in sundry income - net associated with the sale of the DuPont (Shenzhen) Manufacturing Limited entity, which held certain buildings and other assets. See Note 4 for additional information | |||||||||||||||||||||
[7] | Due to quarterly changes in the share count and the allocation of income to participating securities, the sum of the four quarters may not equal the earnings per share amount calculated for the year. | |||||||||||||||||||||
[8] | Includes charges of $(360) million and $(1,109) million during the period September 1 - September 30, 2017 and the fourth quarter 2017, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business, which was included in cost of goods sold. See Note 3 for additional information. | |||||||||||||||||||||
[9] | Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to the Tax Cuts and Jobs Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. See Note 7 for additional information. |
Quaterly Financial Data Quar148
Quaterly Financial Data Quarterly Financial Data (Parentheticals) (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Predecessor [Member] | |||||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||||
Transaction Costs | $ (201) | $ (170) | $ (164) | $ (122) | $ (76) | $ (24) | $ 581 | $ 386 | $ 10 | ||||
Predecessor [Member] | Continuing Operations [Member] | |||||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||||
Tax benefit related to reduction in company's unrecognized tax benefits | 53 | 53 | |||||||||||
Pre tax benefit on associated accrued interest reversals | $ 47 | ||||||||||||
Predecessor [Member] | Food Safety Diagnostic Business [Member] | |||||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||||
Pre-tax gain on disposal | $ 162 | ||||||||||||
Predecessor [Member] | Ownership interest in DuPont (Shenzhen) Manufacturing Limited [Member] | |||||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||||
Gain on sale of entity | $ 369 | ||||||||||||
Predecessor [Member] | Merger with Dow [Member] | |||||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||||
Transaction Costs | $ (210) | ||||||||||||
Successor [Member] | |||||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory | $ (360) | $ (1,109) | $ (1,469) | ||||||||||
Transaction Costs | $ (71) | $ (243) | 314 | ||||||||||
Successor [Member] | Tax benefit due to Tax Cuts and Jobs Act and an internal entity restructuring [Member] | |||||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||||
Income Tax Benefit | 2,262 | ||||||||||||
Successor [Member] | Merger with Dow [Member] | |||||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory | $ (1,434) |
Subsequent Events (Details)
Subsequent Events (Details) - Securities Sold under Agreements to Repurchase [Member] - Subsequent Event [Member] - Successor [Member] $ in Millions | Feb. 13, 2018USD ($) |
Subsequent Event [Line Items] | |
Short-term Debt | $ 1,300 |
Percentage of outstanding amounts borrowed utilized as collateral | 105.00% |
Interest rate in addition to LIBOR | 0.75% |
Schedule II - Valuation and 150
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Predecessor [Member] | Allowance for Doubtful Accounts [Member] | |||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | $ 305 | $ 287 | $ 225 | $ 235 | |
Additions charges to expenses | 51 | 119 | 58 | ||
Deductions from reserves | [1] | (33) | (57) | (68) | |
Balance at end of period | 305 | 287 | 225 | ||
Predecessor [Member] | Inventory Valuation Reserve [Member] | |||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 274 | 214 | 237 | 179 | |
Additions charges to expenses | 241 | 275 | 391 | ||
Deductions from reserves | [2] | (181) | (298) | (333) | |
Balance at end of period | 274 | 214 | 237 | ||
Predecessor [Member] | Valuation Allowance of Deferred Tax Assets [Member] | |||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 1,383 | 1,308 | 1,529 | 1,704 | |
Additions charges to expenses | 95 | 74 | 40 | ||
Deductions from reserves | (20) | (295) | (215) | ||
Balance at end of period | 1,383 | $ 1,308 | $ 1,529 | ||
Successor [Member] | Allowance for Doubtful Accounts [Member] | |||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 0 | ||||
Additions charges to expenses | 10 | ||||
Deductions from reserves | [1] | 0 | |||
Balance at end of period | 0 | ||||
Successor [Member] | Inventory Valuation Reserve [Member] | |||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 0 | ||||
Additions charges to expenses | 89 | ||||
Deductions from reserves | [2] | (34) | |||
Balance at end of period | 55 | 0 | |||
Successor [Member] | Valuation Allowance of Deferred Tax Assets [Member] | |||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 1,323 | ||||
Additions charges to expenses | 84 | ||||
Deductions from reserves | (29) | ||||
Balance at end of period | $ 1,378 | $ 1,323 | |||
[1] | Deductions include write-offs, recoveries and currency translation adjustments. | ||||
[2] | Deductions include disposals and currency translation adjustments. |