DEI Document
DEI Document - USD ($) $ in Billions | 12 Months Ended | |
Dec. 31, 2018 | Jun. 30, 2018 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2018 | |
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 | 2,018 | |
Document Fiscal Period Focus | FY | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Public Float | $ 0 | |
Entity Common Stock, Shares Outstanding | 100 | |
Entity Small Business | false | |
Entity Shell Company | false |
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, 2018 | Dec. 31, 2016 | |
Successor [Member] | ||||
Net Sales | $ 7,053 | $ 26,279 | ||
Cost of Goods Sold | 6,240 | 18,182 | ||
Research and Development Expense | 492 | 1,524 | ||
Selling, General and Administrative Expense | 1,141 | 3,853 | ||
Amortization of Intangible Assets | 389 | 1,281 | ||
Restructuring and Asset Related Charges - Net | 180 | 485 | ||
Integration and Separation Costs | 314 | 1,375 | ||
Goodwill Impairment Charge | 0 | 4,503 | ||
Sundry income (expense) - net | 224 | 543 | ||
Loss on Extinguishment of Debt | 0 | 81 | ||
Interest Expense | 107 | 331 | ||
(Loss) income from continuing operations before income taxes | (1,586) | (4,793) | ||
Provision for (benefit from) income taxes on continuing operations | (2,673) | 220 | ||
(Loss) income from continuing operations after income taxes | 1,087 | (5,013) | ||
(Loss) income from discontinued operations after income taxes | (77) | (5) | ||
Net (loss) income | 1,010 | (5,018) | ||
Net income attributable to noncontrolling interests | 0 | 11 | ||
Net (loss) income attributable to Historical DuPont | $ 1,010 | $ (5,029) | ||
Predecessor [Member] | ||||
Net Sales | $ 17,281 | $ 23,209 | ||
Cost of Goods Sold | 10,052 | 13,937 | ||
Other Operating Charges | 504 | 667 | ||
Research and Development Expense | 1,022 | 1,496 | ||
Selling, General and Administrative Expense | 3,222 | 4,127 | ||
Amortization of Intangible Assets | 139 | 319 | ||
Restructuring and Asset Related Charges - Net | 323 | 556 | ||
Integration and Separation Costs | 581 | 386 | ||
Goodwill Impairment Charge | 0 | 0 | ||
Sundry income (expense) - net | (113) | 667 | ||
Loss on Extinguishment of Debt | 0 | 0 | ||
Interest Expense | 254 | 370 | ||
(Loss) income from continuing operations before income taxes | 1,791 | 2,723 | ||
Provision for (benefit from) income taxes on continuing operations | 149 | 641 | ||
(Loss) income from continuing operations after income taxes | 1,642 | 2,082 | ||
(Loss) income from discontinued operations after income taxes | 119 | 443 | ||
Net (loss) income | 1,761 | 2,525 | ||
Net income attributable to noncontrolling interests | 20 | 12 | ||
Net (loss) income attributable to Historical DuPont | $ 1,741 | $ 2,513 | ||
Basic earnings per share of common stock from continuing operations | $ 1.86 | $ 2.36 | ||
Basic earnings per share of common stock from discontinued operations | 0.13 | 0.51 | ||
Basic earnings per share of common stock | 2 | 2.87 | ||
Diluted earnings per share of common stock from continuing operations | 1.85 | 2.35 | ||
Diluted earnings per share of common stock from discontinued operations | 0.13 | 0.50 | ||
Diluted earnings per share of common stock | 1.99 | 2.85 | ||
Dividends declared per share of common stock | $ 1.14 | $ 1.52 |
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, 2018 | Dec. 31, 2016 | |
Predecessor [Member] | ||||
Net (loss) income | $ 1,761 | $ 2,525 | ||
Unrealized gains on Investments | 0 | 20 | ||
Cumulative Translation Adjustments | 1,042 | (510) | ||
Derivatives Instruments | (10) | 31 | ||
Other Comprehensive (Loss) Income, Net of Tax | 1,289 | (515) | ||
Comprehensive (Loss) Income | 3,050 | 2,010 | ||
Comprehensive Income (Loss) Attributable to Noncontrolling Interest | 20 | 12 | ||
Comprehensive (Loss) Income Attributable to DuPont | 3,030 | 1,998 | ||
Successor [Member] | ||||
Net (loss) income | $ 1,010 | $ (5,018) | ||
Unrealized gains on Investments | 0 | 0 | ||
Cumulative Translation Adjustments | (454) | (1,512) | ||
Derivatives Instruments | (2) | (24) | ||
Other Comprehensive (Loss) Income, Net of Tax | (381) | (2,122) | ||
Comprehensive (Loss) Income | 629 | (7,140) | ||
Comprehensive Income (Loss) Attributable to Noncontrolling Interest | 0 | 11 | ||
Comprehensive (Loss) Income Attributable to DuPont | 629 | (7,151) | ||
Pension Plan | Predecessor [Member] | ||||
Adjustments to benefit plans | 247 | 323 | ||
Pension Plan | Successor [Member] | ||||
Adjustments to benefit plans | 128 | (718) | ||
Other Benefit Plans | Predecessor [Member] | ||||
Adjustments to benefit plans | $ 10 | $ (379) | ||
Other Benefit Plans | Successor [Member] | ||||
Adjustments to benefit plans | $ (53) | $ 132 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and Cash Equivalents | $ 4,466 | $ 7,250 |
Marketable Securities | 34 | 952 |
Accounts and notes receivable - net | 5,534 | 5,239 |
Inventories | 7,407 | 8,633 |
Other current assets | 1,165 | 981 |
Total current assets | 18,606 | 23,055 |
Investments in nonconsolidated affiliates | 1,381 | 1,595 |
Property, Plant and Equipment, Gross | 13,906 | 12,878 |
Accumulated Depreciation | 1,720 | 443 |
Property, Plant and Equipment, Net | 12,186 | 12,435 |
Goodwill | 40,686 | 45,589 |
Other intangible assets | 26,053 | 27,726 |
Deferred Income Taxes | 303 | 480 |
Other Assets | 1,810 | 2,084 |
Total Assets | 101,025 | 112,964 |
Short-term borrowings and capital lease obligations | 2,160 | 2,779 |
Accounts Payable | 4,982 | 4,831 |
Income Taxes Payable | 66 | 149 |
Accrued and other current liabilities | 4,233 | 4,384 |
Total current liabilities | 11,441 | 12,143 |
Long-term Debt | 5,812 | 10,291 |
Deferred Income Tax Liabilities | 5,381 | 5,836 |
Pension and other post employment benefits - noncurrent | 6,683 | 7,787 |
Other noncurrent obligations | 1,620 | 1,975 |
Liabilities, Noncurrent | 19,496 | 25,889 |
Common stock, $0.30 par value; 1,800,000,000 shares authorized; issued at December 31, 2018 and December 31, 2017 – 100 | 0 | 0 |
Additional Paid in Capital | 79,790 | 74,727 |
(Accumulated deficit) retained earnings | (7,669) | 175 |
Accumulated other comprehensive loss | (2,503) | (381) |
Total DuPont Stockholders' Equity | 69,857 | 74,760 |
Noncontrolling Interests | 231 | 172 |
Total Stockholders' Equity | 70,088 | 74,932 |
Total Liabilities and Equity | 101,025 | 112,964 |
$4.50 Series Preferred Stock [Member] | ||
Preferred stock, without par value – cumulative; 23,000,000 shares authorized; issued at December 31, 2018 and December 31, 2017: | 169 | 169 |
$3.50 Series Preferred Stock [Member] | ||
Preferred stock, without par value – cumulative; 23,000,000 shares authorized; issued at December 31, 2018 and December 31, 2017: | $ 70 | $ 70 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Common Stock, Par or Stated Value Per Share | $ 0.30 | $ 0.30 |
Common Stock, Shares Authorized | 1,800,000,000 | 1,800,000,000 |
Common Stock, Shares, Issued | 100 | 100 |
Treasury Stock, Shares | 0 | 0 |
$4.50 Series Preferred Stock [Member] | ||
Preferred Stock, Par Value | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 23,000,000 | 23,000,000 |
Preferred Stock, Shares Issued | 1,673,000 | 1,673,000 |
Preferred Stock, Redemption Amount | $ 120 | $ 120 |
$3.50 Series Preferred Stock [Member] | ||
Preferred Stock, Par Value | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 23,000,000 | 23,000,000 |
Preferred Stock, Shares Issued | 700,000 | 700,000 |
Preferred Stock, Redemption Amount | $ 102 | $ 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, 2018 | Dec. 31, 2016 | |
Cash, cash equivalents and restricted cash at beginning of period | $ 7,808 | |||
Cash, cash equivalents and restricted cash at end of period | $ 7,808 | 4,966 | ||
Successor [Member] | ||||
Net (loss) income | 1,010 | (5,018) | ||
Depreciation and Amortization | 815 | 2,589 | ||
Provision for Deferred Income Tax | (3,015) | 95 | ||
Net Periodic Pension (Benefit) Cost | (111) | (322) | ||
Pension Contributions | (68) | (1,308) | ||
Net gain on sales of property, businesses, consolidated companies, and investments | (16) | (26) | ||
Goodwill Impairment Charge | 0 | 4,503 | ||
Loss on Extinguishment of Debt | 0 | 81 | ||
Restructuring and Asset Related Charges - Net | 180 | 485 | ||
Amortization of inventory step-up | 1,573 | 1,628 | ||
Other net loss | 125 | 290 | ||
Accounts and Notes Receivable | 2,107 | (546) | ||
Inventories | (1,010) | (522) | ||
Accounts Payable | 934 | 309 | ||
Other Assets and Liabilities, Net | 1,672 | (1,390) | ||
Cash provided by (used for) operating activities | 4,196 | 848 | ||
Capital expenditures | (426) | (1,311) | ||
Proceeds from the sale of property, businesses, and consolidated companies, net of cash divested | 1,268 | 59 | ||
Acquisitions of businesses - Net of Cash Acquired | 3 | 0 | ||
Investments in and loans to nonconsolidated affiliates | (5) | (8) | ||
Purchases of investments | (1,043) | (1,257) | ||
Proceeds from Sale and Maturities of Investments | 2,938 | 2,186 | ||
Other investing activities - net | 33 | (3) | ||
Cash (used for) provided by investing activities | 2,768 | (334) | ||
Change in short-term (less than 90 days) borrowings | (2,541) | 399 | ||
Proceeds from Issuance of Long-term Debt | 499 | 755 | ||
Repayments of Long-term Debt | (42) | (5,951) | ||
Proceeds from Stock Options Exercised | 30 | 85 | ||
Payments of Dividends to Stockholders | (332) | (10) | ||
Distributions to DowDuPont | (829) | (2,806) | ||
Contributions from DowDuPont | 0 | 4,849 | ||
Debt extinguishment costs | 0 | (378) | ||
Other financing activities | (12) | (55) | ||
Cash (used for) provided by financing activities | (3,227) | (3,112) | ||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (22) | (244) | ||
Change in cash classified as held for sale | 88 | 0 | ||
(Decrease) increase on cash, cash equivalents and restricted cash | 3,803 | (2,842) | ||
Cash, cash equivalents and restricted cash at beginning of period | 4,005 | 7,808 | ||
Cash, cash equivalents and restricted cash at end of period | 7,808 | $ 4,005 | 4,966 | |
Interest, net of amounts capitalized | 76 | 918 | ||
Income Taxes | (437) | $ 780 | ||
Predecessor [Member] | ||||
Net (loss) income | 1,761 | $ 2,525 | ||
Depreciation and Amortization | 749 | 1,258 | ||
Net Periodic Pension (Benefit) Cost | 295 | 572 | ||
Pension Contributions | (3,024) | (535) | ||
Net gain on sales of property, businesses, consolidated companies, and investments | (204) | (436) | ||
Goodwill Impairment Charge | 0 | 0 | ||
Loss on Extinguishment of Debt | 0 | 0 | ||
Restructuring and Asset Related Charges - Net | 323 | 556 | ||
Asset related charges | 279 | 682 | ||
Other net loss | 481 | 366 | ||
Accounts and Notes Receivable | (2,269) | (270) | ||
Inventories and Other Operating Assets | (202) | (54) | ||
Accounts Payable and Other Operating Liabilities | (1,555) | (674) | ||
Accrued Interest and Income Taxes | (260) | (77) | ||
Cash provided by (used for) operating activities | (3,949) | 3,357 | ||
Capital expenditures | (687) | (1,019) | ||
Proceeds from the sale of property, businesses, and consolidated companies, net of cash divested | 300 | 316 | ||
Acquisitions of businesses - Net of Cash Acquired | (246) | 0 | ||
Investments in and loans to nonconsolidated affiliates | (22) | (19) | ||
Purchases of investments | (5,457) | (2,633) | ||
Proceeds from Sale and Maturities of Investments | 3,977 | 2,181 | ||
Foreign currency exchange contract settlements | (206) | (385) | ||
Other investing activities - net | (41) | 45 | ||
Cash (used for) provided by investing activities | (2,382) | (1,514) | ||
Change in short-term (less than 90 days) borrowings | 3,610 | 387 | ||
Proceeds from Issuance of Long-term Debt | 2,734 | 813 | ||
Repayments of Long-term Debt | (229) | (1,440) | ||
Repurchase of Common Stock | 0 | (916) | ||
Proceeds from Stock Options Exercised | 235 | 154 | ||
Payments of Dividends to Stockholders | (666) | (1,335) | ||
Debt extinguishment costs | 0 | 0 | ||
Other financing activities | (52) | (48) | ||
Cash (used for) provided by financing activities | 5,632 | (2,385) | ||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 187 | (153) | ||
Change in cash classified as held for sale | (31) | 15 | ||
(Decrease) increase on cash, cash equivalents and restricted cash | (543) | (680) | ||
Cash, cash equivalents and restricted cash at beginning of period | $ 4,005 | 4,548 | 5,228 | |
Cash, cash equivalents and restricted cash at end of period | 4,005 | 4,548 | ||
Interest, net of amounts capitalized | 331 | 386 | ||
Income Taxes | $ 272 | $ 735 |
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] | |
Beginning Balance (Predecessor [Member]) at Dec. 31, 2015 | $ 10,200 | $ 237 | $ 288 | $ 11,081 | $ 14,510 | $ (9,396) | $ (6,727) | $ 207 | |
Net (loss) 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) | |||||||
Common stock issued - compensation plans | 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 (loss) 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) | |||||||
Common stock issued - compensation plans | Predecessor [Member] | 275 | 2 | 273 | ||||||
Common stock repurchased | Predecessor [Member] | 0 | ||||||||
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 (loss) income | Successor [Member] | 1,010 | 1,010 | 0 | ||||||
Net other comprehensive income (loss) | Successor [Member] | (381) | (381) | |||||||
Dividends, Common Stock | Successor [Member] | |||||||||
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 | |||||||
Sale of a majority interest in consolidated subsidiary | Successor [Member] | (4) | (4) | |||||||
Acquisition of a noncontrolling interest in a consolidated subsidiary | Successor [Member] | 3 | 3 | |||||||
Stockholders' Equity, Other | Successor [Member] | (11) | (19) | (3) | 11 | |||||
Ending Balance (Successor [Member]) at Dec. 31, 2017 | 239 | 0 | 74,727 | 175 | (381) | 0 | 172 | ||
Ending Balance at Dec. 31, 2017 | 74,932 | ||||||||
Net (loss) income | Successor [Member] | (5,018) | (5,029) | 11 | ||||||
Net other comprehensive income (loss) | Successor [Member] | (2,122) | (2,122) | |||||||
Dividends, Preferred Stock | Successor [Member] | (10) | (10) | |||||||
Distributions to DowDuPont | Successor [Member] | (2,806) | (2,806) | |||||||
Issuance of DowDuPont stock | Successor [Member] | 85 | 85 | |||||||
Stock-based compensation | Successor [Member] | 129 | 129 | |||||||
Stockholders' Equity, Other | Successor [Member] | 49 | 1 | 48 | ||||||
Capital Contributions from DowDuPont | Successor [Member] | 4,849 | 4,849 | |||||||
Ending Balance (Successor [Member]) at Dec. 31, 2018 | 70,088 | $ 239 | $ 0 | $ 79,790 | $ (7,669) | $ (2,503) | $ 0 | $ 231 | |
Ending Balance at Dec. 31, 2018 | $ 70,088 | ||||||||
[1] | In connection with the Merger, previously unrecognized prior service benefits and net losses related to Historical DuPont's pension and other post employment benefit ("OPEB") plans were eliminated as a result of reflecting the balance sheet at fair value as of the date of the Merger. See Note 3 and 18 for further information regarding the Merger and pension and OPEB plans, respectively. |
Consolidated Statements of Eq_2
Consolidated Statements of Equity (Parentheticals) - $ / shares | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |
Predecessor [Member] | ||||
Dividends declared | $ 1.14 | $ 1.52 | ||
$4.50 Series Preferred Stock [Member] | Predecessor [Member] | ||||
Preferred Stock, Dividends Per Share, Declared | 3.375 | 4.50 | ||
$4.50 Series Preferred Stock [Member] | Successor [Member] | ||||
Preferred Stock, Dividends Per Share, Declared | $ 1.125 | $ 4.50 | ||
$3.50 Series Preferred Stock [Member] | Predecessor [Member] | ||||
Preferred Stock, Dividends Per Share, Declared | $ 2.625 | $ 3.500 | ||
$3.50 Series Preferred Stock [Member] | Successor [Member] | ||||
Preferred Stock, Dividends Per Share, Declared | $ 0.875 | $ 3.500 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
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 (“Historical 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 ("Historical Dow") and Historical 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"), Historical Dow and Historical DuPont each merged with wholly owned subsidiaries of DowDuPont ("Mergers") and, as a result of the Mergers, Historical Dow and Historical 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 certain customary conditions, including, among others, the effectiveness of registration statements filed with the U.S. Securities and Exchange Commission ("SEC") and 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" and the transactions to accomplish the Intended Business Separations, the "separations"). On February 26, 2018, DowDuPont announced the corporate brand names that each company plans to assume once the Intended Business Separations occur. Materials science will be called Dow, agriculture will be called Corteva TM Agriscience, and specialty products will be called DuPont. For purposes of DowDuPont's financial statement presentation, Historical Dow was determined to be the accounting acquirer in the Merger and Historical 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, Historical DuPont has elected to apply push-down accounting and reflect in its financial statements the fair value of its assets and liabilities. Historical 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 Historical DuPont. All periods prior to the closing of the Merger reflect the historical accounting basis in Historical 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, Historical DuPont, Historical 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 7 . 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 Historical 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 Historical 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 comprehensive income and cash flows related to the Divested Ag Business have not been segregated and are included in the Consolidated Statements of Comprehensive (Loss) 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. Effective January 1, 2018, the company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2017-07, Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. In conjunction with the adoption of this ASU, the company retrospectively reclassified the non-service components of net periodic benefit cost in the Consolidated Statements of Operations. Effective January 1, 2018, the company adopted FASB ASU No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (a consensus of the FASB Emerging Issues Task Force). In conjunction with the adoption of this ASU, the company retrospectively adjusted the Consolidated Statement of Cash Flows to include the presentation of restricted cash. See Note 2 for more information. 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 the ability to exercise significant influence but does not have 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, 2018 and 2017 , 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. Changes in Accounting and Reporting Within the Successor periods, Historical DuPont made the following changes in accounting and reporting to harmonize its accounting and reporting with DowDuPont. Within the Successor periods of the Consolidated Statements of Operations: • Included royalty income within net sales. In the Predecessor periods, royalty income is included within sundry income (expense) - net. • Eliminated the other operating charges line item. In the Successor periods, 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 periods. • 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 periods, interest accrued related to unrecognized tax benefits is included within sundry income (expense) - net. Within the Successor periods 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 periods, Historical DuPont reflected non-qualified hedge programs, specifically forward contracts, options and cash collateral activity, within cash flows from investing activities. In the Predecessor periods, Historical 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 periods, 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 $500 million and $558 million as of December 31, 2018 and 2017, respectively, and is included within other current assets on the Consolidated Balance Sheets. See Note 8 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, 2018 approximately 50 percent , 35 percent , and 15 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, 2017 approximately 60 percent , 30 percent , and 10 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 fair value of property, plant and equipment was 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 performs an annual goodwill impairment test in the fourth 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 determined fair values for each of the reporting units using the income approach. Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. See Note 14 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 (loss) gain is reported in accumulated other comprehensive loss until it is cleared to earnings during the same period in which the hedged item affects 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, the net gain or loss in AOCI generally remains in AOCI until the item that was hedged affects earnings. 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 periods, the company reflected non-qualified hedge programs, specifically forward contracts, options and cash collateral activity, within cash flows from investing activities. In the Predecessor periods, 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 periods, the company included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. See Note 20 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 its customer obtains control of promised goods or services, in an amount that reflects the consideration which the company expects to receive in exchange for those goods or services. To determine revenue recognition for the arrangements that the company determines are within the scope of FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), the company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 5 for additional information on revenue recognition. Prepaid Royalties 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. At December 31, 2018, the balance of prepaid royalties reflected in other current assets and other assets was $239 million and $1,139 million , respectively. 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 9 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. 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 periods. In the Predecessor period, interest accrued related to unrecognized tax benefits is included within sundry income (expense) - net in the Consolidated Statements of Operations. Segments Effective with the Merger, Historical DuPont’s business activities are components of its parent company’s business operations. Historical 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 Historical DuPont relates to the company in its entirety. Accordingly, there are no separate reportable business segments for Historical DuPont under Accounting Standards Codification ("ASC") Topic 280 “Segment Reporting” and Historical 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
Recent Accounting Guidance | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Guidance | RECENT ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance 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 resulted in additional disclosure requirements to describe the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The standard permits the use of either the retrospective or modified retrospective (cumulative-effect) transition method of adoption. The company adopted this standard in the first quarter of 2018 and applied the modified retrospective transition method to contracts not completed at the date of initial application. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with historic accounting under Topic 605 (Revenue Recognition). The company recognized the cumulative effect of applying the new revenue standard as an adjustment to the opening balance of retained earnings in the beginning of 2018. See Note 5 for additional disclosures regarding the company's contracts with customers. In accordance with Topic 606, the disclosure of the impact of adoption to the company's Consolidated Balance Sheet was as follows: (In millions, except per share amounts) As Reported December 31, 2017 Effect of Adoption of ASU 2014-09 Updated January 1, 2018 Current assets Accounts and notes receivable - net $ 5,239 $ 79 $ 5,318 Inventories 8,633 (53 ) 8,580 Other current assets 981 101 1,082 Deferred income taxes $ 480 $ 1 $ 481 Liabilities and Equity Current liabilities Accounts payable $ 4,831 $ (3 ) $ 4,828 Accrued and other current liabilities 4,384 120 4,504 Deferred income tax liabilities $ 5,836 $ 3 $ 5,839 Retained earnings $ 175 $ 8 $ 183 The most significant changes as a result of adopting ASU No. 2014-09 relate to the reclassification of the company's return assets and refund liabilities in the agriculture product line on the Consolidated Balance Sheets. Under previous guidance, the company accrued the amount of expected product returns as a reduction of net sales and a reduction of accounts and notes receivable - net, and the value associated with the products expected to be recovered in inventory along with a corresponding reduction in cost of goods sold. Under Topic 606, the company now separately presents the amount of expected product returns as refund liabilities, included in accrued and other current liabilities, and the products expected to be recovered as return assets, included in other current assets in the consolidated balance sheets. The reclassification of return assets and refund liabilities was $61 million and $119 million , respectively, at January 1, 2018. The effect on the Consolidated Statement of Cash Flows was not material. The following table summarizes the effects of adopting the new accounting standard related to revenue recognition on the company's Consolidated Balance Sheet: December 31, 2018 (In millions, except per share amounts) As Reported Effect of Change Balance without Adoption of Topic 606 Current assets Accounts and notes receivable - net $ 5,534 $ (40 ) $ 5,494 Inventories 7,407 32 7,439 Other current assets 1,165 (80 ) 1,085 Deferred income taxes $ 303 $ (1 ) $ 302 Liabilities and Equity Current liabilities Accrued and other current liabilities $ 4,233 $ (80 ) $ 4,153 Deferred income tax liabilities $ 5,381 $ (3 ) $ 5,378 Accumulated deficit $ (7,669 ) $ (6 ) $ (7,675 ) In accordance with Topic 606, the impact of adoption to the company’s Consolidated Statements of Operations primarily related to the accounting for interest income from its customer financing arrangements in the agriculture product line. Under previous guidance, the company recorded the interest income from these arrangements over the financing period within sundry income (expense) - net. Under Topic 606, the company elected the practical expedient and does not adjust the promised amount of consideration for the effects of a significant financing component for contracts where payment terms are one year or less. Generally, the entire arrangement consideration is recorded in net sales upon satisfaction of the performance obligation. Performance obligations for these arrangements are generally satisfied during the first half of the fiscal year, consistent with the North America growing season. The following tables summarize the effects of adopting the new accounting standard related to revenue recognition on the company's Consolidated Statement of Operations for the year ended December 31, 2018 : For the Year Ended December 31, 2018 (In millions, except per share amounts) As Reported Effect of Change Balance without Adoption of Topic 606 Net sales $ 26,279 $ (69 ) $ 26,210 Sundry income (expense) - net $ 543 $ 71 $ 614 Loss from continuing operations before income taxes $ (4,793 ) $ 2 $ (4,791 ) Provision for income taxes on continuing operations $ 220 $ — $ 220 Loss from continuing operations after income taxes $ (5,013 ) $ 2 $ (5,011 ) 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 adopted this standard on January 1, 2018 and there was no material impact. 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 adopted this standard on January 1, 2018 and there was no adjustment to retained earnings. In November 2016, the FASB issued ASU No. 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 company adopted this standard on January 1, 2018. See the Consolidated Statement of Cash Flows for the new presentation of restricted cash as well as Note 8 for a reconciliation of cash, cash equivalents and restricted cash (included in other current assets) presented on the Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash presented in the Consolidated Statements of Cash Flows. The following table summarizes the effects of adopting the new accounting standard related to restricted cash on the company's Consolidated Statement of Cash Flows: For the Period September 1 through December 31, 2017 (In millions) As Reported Effect of Change Updated Investing Activities Payment into trust account $ (571 ) $ 571 $ — Distribution from trust account $ 13 $ (13 ) $ — Cash provided by investing activities $ 2,210 $ 558 $ 2,768 Increase in cash, cash equivalents and restricted cash $ 3,245 $ 558 $ 3,803 Cash, cash equivalents and restricted cash at end of period $ 7,250 $ 558 $ 7,808 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 which was applied prospectively to all applicable transactions after the adoption date. 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 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 adopted this guidance on January 1, 2018, and recorded the other components of net periodic benefit cost in sundry income (expense) - net. The following tables summarize the reclassification of those costs from cost of goods sold, research and development expense, and selling, general and administrative expenses to sundry income (expense) - net in the Consolidated Statements of Operations: Summary of Changes to the Consolidated Statement of Operations For the Period September 1 - December 31, 2017 (Successor) (in millions) As Reported Effect of Change Updated Cost of goods sold $ 6,165 $ 75 $ 6,240 Research and development expense $ 473 $ 19 $ 492 Selling, general and administrative expenses $ 1,101 $ 40 $ 1,141 Sundry income (expense) - net $ 90 $ 134 $ 224 Summary of Changes to the Consolidated Statement of Operations For the Period January 1 - August 31, 2017 (Predecessor) (in millions) As Reported Effect of Change Updated Cost of goods sold $ 10,205 $ (153 ) $ 10,052 Research and development expense $ 1,064 $ (42 ) $ 1,022 Selling, general and administrative expenses $ 3,306 $ (84 ) $ 3,222 Sundry income (expense) - net $ 166 $ (279 ) $ (113 ) Summary of Changes to the Consolidated Statement of Operations For the Period January 1 - December 31, 2016 (Predecessor) (in millions) As Reported Effect of Change Updated Cost of goods sold $ 13,955 $ (18 ) $ 13,937 Research and development expense $ 1,502 $ (6 ) $ 1,496 Selling, general and administrative expenses $ 4,143 $ (16 ) $ 4,127 Sundry income (expense) - net $ 707 $ (40 ) $ 667 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 early adopted the new guidance in the second quarter of 2018, and adoption did not have a material impact on the Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20), Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. This amendment modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing and adding certain disclosures for these plans. The eliminated disclosures include the amounts in accumulated other comprehensive income expected to be recognized in net periodic benefit costs over the next fiscal year and the effects of a one-percentage-point change in assumed health care cost trend rates on the net periodic benefit costs and the benefit obligation for postretirement health care benefits. New disclosures include the interest crediting rates for cash balance plans, and an explanation of significant gains and losses related to changes in benefit obligations. The new standard is effective for fiscal years beginning after December 15, 2020, and must be applied retrospectively for all periods presented. Early adoption is permitted. The company early adopted the new guidance in the fourth quarter of 2018, and adoption did not have a material impact on the Consolidated Financial Statements. Accounting Guidance Issued But Not Adopted as of December 31, 2018 In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), and associated ASUs related to Topic 842, which requires organizations that lease assets to recognize on their balance sheet the assets and liabilities for the rights and obligations created by those leases. The new guidance requires that a lessee recognize assets and liabilities for leases, and recognition, presentation and measurement in the financial statements will depend on its classification as a finance or operating lease. In addition, the new guidance requires disclosures to help investors and other financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. Lessor accounting remains largely unchanged from current U.S. GAAP but does contain some targeted improvements to align with the new revenue recognition guidance issued in 2014 (Topic 606). The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, and early adoption is permitted. The company has a cross-functional team in place to evaluate and implement the new guidance and the company has substantially completed the implementation of a third-party software solution to facilitate compliance with accounting and reporting requirements. The team continues to review existing lease arrangements and update business processes and controls related to the new guidance for leases. Collectively, these activities are expected to facilitate the company's ability to meet the new accounting and disclosure requirements upon adoption in the first quarter of 2019. This ASU allows for a modified retrospective transition approach, applying the new standard to all leases existing at the date of initial adoption. An entity may choose to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the financial statement as its date of initial application. The company has elected to apply the transition requirements at the January 1, 2019 effective date rather than at the beginning of the earliest comparative period presented. This approach allows for a cumulative effect adjustment in the period of adoption, and prior periods will not be restated. In addition, the company has elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, does not require reassessment of prior conclusions related to contracts containing a lease, lease classification, and initial direct lease costs. As an accounting policy election, the company will exclude short-term leases (term of 12 months or less) from the balance sheet and will account for nonlease and lease components in a contract as a single component for most asset classes. The company is finalizing the evaluation of the January 1, 2019 impact and estimates a material increase in lease-related assets and liabilities, ranging between $600 million and $800 million in the Consolidated Balance Sheet. The impact to the company's Consolidated Statement of Operations and Consolidated Statement of Cash Flows is expected to not be material. |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2018 | |
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 Historical DuPont’s assets and liabilities, discussed below. Granular, Inc. is part of Historical DuPont's agriculture product line. Merger with Historical Dow Upon completion of the Merger, (i) each share of common stock, par value $0.30 per share, of the company (the "Historical 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 Historical DuPont Preferred Stock— $4.50 Series and Historical DuPont Preferred Stock— $3.50 Series (collectively "Historical 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 Historical 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 Historical 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. Prior to the Merger, shares of Historical 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 Historical DuPont Common Stock from listing on the NYSE and filed a Form 25 with the SEC to report that Historical DuPont Common Stock is no longer listed on the NYSE. Historical 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, Historical 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. Historical DuPont and Historical Dow intend to pursue the Intended Business Separations, subject to the receipt of approval by the Board of Directors of DowDuPont. Allocation of Purchase Price Based on an evaluation of the provisions of ASC 805, "Business Combinations," ("ASC 805") Historical Dow was determined to be the accounting acquirer in the Merger. DowDuPont applied the acquisition method of accounting with respect to the assets and liabilities of Historical DuPont, which were measured at fair value as of the date of the Merger. In connection with the Merger and the related accounting determination, Historical DuPont elected to apply push-down accounting and reflected in its financial statements the fair value of assets and liabilities as of the date of the Merger. The Successor period reflects DowDuPont’s fair value basis in the assets and liabilities of Historical DuPont. Historical 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 Historical DuPont shares, the cash value for fractional shares, and the portion of Historical 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) Historical DuPont Common Stock outstanding as of the Merger Effectiveness Time 868.3 Historical DuPont exchange ratio 1.2820 DowDuPont Common Stock issued in exchange for Historical 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 Historical DuPont equity awards 2 485 Total consideration $ 74,680 1. Amount was determined based on the price per share of Historical Dow Common Stock of $66.65 on August 31, 2017. 2. Represents the fair value of replacement awards issued for Historical DuPont's equity awards outstanding immediately before the Merger and attributable to the service periods prior to the Merger. The previous Historical 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 final fair value that was allocated to Historical DuPont's assets and liabilities based upon fair values as determined by DowDuPont. The valuation process to determine the fair values is complete. For the year ended December 31, 2018, DowDuPont made measurement period adjustments to reflect facts and circumstances in existence as of the Merger Effectiveness Time. These adjustments primarily included a $392 million increase in goodwill, a $257 million decrease in property, plant, and equipment, and a $150 million decrease in indefinite-lived trademarks and trade names and customer-related assets. Final fair value (In millions) Fair Value of Assets as of the Merger Effectiveness Time Cash and cash equivalents $ 4,005 Marketable securities 2,849 Accounts and notes receivable 7,834 Inventories 8,805 Other current assets 420 Investment in nonconsolidated affiliates 1,596 Assets held for sale - current 3,732 Property, plant and equipment 11,684 Goodwill 45,497 Other intangible assets 27,071 Deferred income tax assets 279 Other assets 2,066 Total Assets $ 115,838 Fair Value of Liabilities Short-term borrowings and capital lease obligations $ 5,319 Accounts payable 3,298 Income taxes payable 261 Accrued and other current liabilities 3,517 Liabilities held for sale - current 125 Long-term debt 9,878 Deferred income tax liabilities 8,259 Pension and other post employment benefits - noncurrent 8,056 Other noncurrent obligations 1,967 Total Liabilities $ 40,680 Noncontrolling interests 239 Preferred stock 239 Fair Value of Net Assets (Consideration for the Merger) $ 74,680 The significant fair value adjustments included in the allocation of purchase price are discussed below. Inventories Inventory is primarily comprised of finished products of $4,927 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 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 fair value of inventory becomes the LIFO base layer inventory. The pre-tax amounts of inventory step-up recognized for the year ended December 31, 2018 and the period September 1 through December 31, 2017, were $1,563 million and $1,538 million , respectively. For the year ended December 31, 2018, the pre-tax amount is reflected in cost of goods sold within (loss) income from continuing operations before income taxes in the Consolidated Statement of Operations. For the period September 1 through December 31, 2017, $1,434 million was reflected in costs of goods sold within (loss) income from continuing operations before income taxes and $104 million was reflected in (loss) income from discontinued operations after income taxes in the Consolidated Statement of Operations. Property, Plant & Equipment Property, plant and equipment is comprised of machinery and equipment of $7,344 million , buildings of $2,418 million , construction in progress of $995 million and land and land improvements of $927 million . The 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 net fair value of assets and liabilities was recorded as goodwill. The Merger resulted in the recognition of $45,497 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 Historical 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 customer-related value was determined using the excess earnings method while the 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 14 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 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 9 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. Deferred income tax assets include a $172 million adjustment to derecognize certain deferred income tax assets on historical net operating losses that will not be fully realized as a result of the Merger. Deferred income tax liabilities include 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 periods 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 Year Ended December 31, 2018 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 Integration and separation costs $ 1,375 $ 314 Selling, general and administrative expenses $ 581 $ 386 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 was integrated into the nutrition and health product line to enhance Historical 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 Historical DuPont of approximately $1,200 million , which reflected 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, Historical DuPont entered into favorable supply contracts with FMC. Historical DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 4 and 14 for additional information. The table below presents the fair value that was allocated to the assets acquired and liabilities assumed. The purchase accounting and purchase price allocation for the H&N Business is complete. There were no material updates to the preliminary purchase accounting and purchase price allocation during 2018. Successor (In millions) November 1, 2017 Fair Value of Assets Cash and cash equivalents $ 16 Accounts and notes receivable 144 Inventories 304 Property, plant and equipment 489 Goodwill 732 Other intangible assets 435 Other current and non-current assets 14 Total Assets $ 2,134 Fair Value of Liabilities Accounts payable and other accrued liabilities $ 72 Deferred income tax liabilities 92 Total Liabilities $ 164 Fair Value of Net Assets (Consideration for the H&N Business) $ 1,970 The significant fair value adjustments included in the final allocation of purchase price are discussed below. Inventories Acquired inventory is comprised of finished goods of $143 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 fair value step-up of inventory of $100 million was recognized in costs of goods sold within (loss) income from continuing operations before income taxes in the Consolidated Statements of Operations as the inventory was sold. The pre-tax amounts recognized for the year ended December 31, 2018 and the period ending November 1 through December 31, 2017 were $65 million and $35 million , respectively. Property, Plant & Equipment Property, plant and equipment is comprised of machinery and equipment of $356 million , buildings of $63 million , land and land improvements of $39 million , and construction in progress of $31 million . The 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 net fair value of assets acquired and liabilities assumed resulted in the recognition of $732 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 include customer-related intangible assets of $268 million , developed technology of $130 million , and trademarks and tradenames of $37 million . The customer-related fair value was determined using the excess earnings method while the 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 from continuing operations before income taxes of the H&N Business included in the company's results for the period November 1 through December 31, 2017. (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 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, and effective upon the closing of the transaction on November 1, 2017, FMC acquired the Divested Ag Business that Historical DuPont was required to divest in order to obtain EC approval of the Merger Transaction and Historical DuPont acquired the H&N Business. See further discussion of the FMC Transactions in Note 1. The sale of the Divested Ag Business met the criteria for discontinued operations and as such, earnings were 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 fair value as determined by the company of the H&N Business was $1,970 million . The FMC Transactions included a cash consideration payment to Historical DuPont of approximately $1,200 million , which reflected the difference in value between the Divested Ag Business and the H&N Business, as well as favorable contracts with FMC of $495 million . 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. For the year ended December 31, 2018, the company recorded a loss from discontinued operations before income taxes related to the Divested Ag Business of $10 million ( $5 million after tax). The following table summarizes the results of operations of the Divested Ag Business presented as discontinued operations for the period September 1 through December 31, 2017, the period January 1 through August 31, 2017 and the year ended December 31, 2016, respectively: 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 Net sales $ 199 $ 1,068 $ 1,385 Cost of goods sold 194 412 514 Other operating charges 17 19 Research and development expenses 30 95 139 Selling, general and administrative expenses 2 102 146 176 Restructuring and asset related charges - net (1 ) — (4 ) Sundry (expense) income - net (1 ) 7 1 (Loss) Income from discontinued operations before income taxes (127 ) 405 542 (Benefit from) Provision for income taxes (50 ) 79 103 (Loss) Income from discontinued operations after income taxes $ (77 ) $ 326 $ 439 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 Depreciation $ — $ 21 $ 32 Capital expenditures $ 5 $ 8 $ 40 Upon closing and pursuant to the terms of the FMC Transaction Agreement, Historical 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 Historical DuPont at cost for a period of up to five years and, as a result, Historical DuPont recorded an intangible asset of $495 million upon closing that will be amortized 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 (expense) - net in the company's Consolidated Statement of Operations for the period January 1 through August 31, 2017 . Historical DuPont (Shenzhen) Manufacturing Limited In March 2016, the company recognized the sale of its 100 percent ownership interest in Historical 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 (expense) - net in the company's Consolidated Statement of Operations for the year ended December 31, 2016 . Performance Chemicals On July 1, 2015, Historical 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 "Chemours Separation"). In connection with the Chemours Separation, the company and Chemours entered into a Separation Agreement (as amended, the "Chemours 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 Chemours Separation Agreement sets forth, among other things, the agreements between the company and Chemours regarding the principal transactions necessary to effect the Chemours 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 Chemours Separation Agreement and the ancillary agreements provide for the allocation between Historical 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 Chemours Separation. Pursuant to the Chemours Separation Agreement, as discussed below, Chemours indemnifies Historical 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, Historical DuPont and Chemours amended the Chemours Separation Agreement to provide for a limited sharing of potential future perfluorooctanoic acid (“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, 2018 , the indemnified assets are $80 million within accounts and notes receivable - net and $298 million within other assets along with the corresponding liabilities of $80 million within accrued and other current liabilities and $298 million within other noncurrent obligations on the Consolidated Balance Sheet. See Note 16 for further discussion of the amendment to the Chemours 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 Other operating charges $ 335 $ 36 Sundry income (expense) - net 3 3 Loss from discontinued operations before income taxes (332 ) (33 ) Benefits from income taxes (125 ) (28 ) Loss from discontinued operations after income taxes $ (207 ) $ (5 ) (Loss) income from discontinued operations after income taxes in the company's Consolidated Statement of Operations for the period January 1 through August 31, 2017 includes a charge of $335 million ( $214 million net of tax) in connection with the PFOA multi-district litigation settlement. For the year ended December 31, 2016, the company incurred $35 million of costs 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. These costs were included in (loss) income from discontinued operations after income taxes in the company's Consolidated Statement of Operations. |
Revenue (Notes)
Revenue (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | REVENUE Revenue Recognition Products Substantially all of Historical DuPont's revenue is derived from product sales. Product sales consist of sales of Historical DuPont's products to supply manufacturers, distributors, and farmers. Historical DuPont considers purchase orders, which in some cases are governed by master supply agreements, to be a contract with a customer. Contracts with customers are considered to be short-term when the time between order confirmation and satisfaction of the performance obligations is equal to or less than one year. Revenue from product sales is recognized when the customer obtains control of the company's product, which occurs at a point in time according to shipping terms. Payment terms for contracts related to product lines other than agriculture generally average 30 to 60 days after invoicing, depending on business and geography. Payment terms for agriculture product line contracts are generally less than one year from invoicing. The company elected the practical expedient and will not adjust the promised amount of consideration for the effects of a significant financing component when Historical DuPont expects it will be one year or less between when a customer obtains control of the company's product and when payment is due. The company has elected to recognize shipping and handling activities when control has transferred to the customer as an expense in cost of goods sold. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenues. In addition, Historical DuPont elected the practical expedient to expense any costs to obtain contracts as incurred, as the amortization period for these costs would have been one year or less. The transaction price includes estimates of variable consideration, such as rights of return, rebates, and discounts, that are reductions in revenue. All estimates are based on the company's historical experience, anticipated performance, and the company's best judgment at the time the estimate is made. Estimates of variable consideration included in the transaction price utilize either the expected value method or most likely amount depending on the nature of the variable consideration. These estimates are reassessed each reporting period and are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur upon resolution of uncertainty associated with the variable consideration. The majority of contracts have a single performance obligation satisfied at a point in time and the transaction price is stated in the contract, usually as quantity times price per unit. For contracts with multiple performance obligations, Historical DuPont allocates the transaction price to each performance obligation based on the relative standalone selling price. The standalone selling price is the observable price which depicts the price as if sold to a similar customer in similar circumstances. Licenses of Intellectual Property Historical DuPont enters into licensing arrangements with customers under which it licenses its intellectual property, such as patents and trademarks. Revenue from the majority of intellectual property licenses is derived from sales-based royalties. The company estimates the expected amount of sales-based royalties based on historical sales by customer. Revenue for licensing agreements that contain sales-based royalties is recognized at the later of (i) when the subsequent sale occurs or (ii) when the performance obligation to which some or all of the royalty has been allocated is satisfied. Contract Balances Contract liabilities primarily reflect deferred revenue from prepayments under agriculture product line contracts with customers where the company receives advance payments for products to be delivered in future periods. Historical DuPont classifies deferred revenue as current or noncurrent based on the timing of when the company expects to recognize revenue. Contract assets primarily include amounts related to contractual rights to consideration for completed performance not yet invoiced within the industrial biosciences product line. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract Balances December 31, 2018 Topic 606 Adjustments January 1, 2018 December 31, 2017 (In millions) Accounts and notes receivable - trade 1 $ 4,130 $ 87 $ 3,976 Contract assets - current 2 $ 48 $ 40 $ — Deferred revenue - current 3 $ 1,927 $ 2 $ 2,014 Deferred revenue - noncurrent 4 $ 30 $ — $ 48 1. Included in accounts and notes receivable - net in the Consolidated Balance Sheets. 2. Included in other current assets in the Consolidated Balance Sheets. 3. Included in accrued and other current liabilities in the Consolidated Balance Sheets. 4. Included in other noncurrent obligations in the Consolidated Balance Sheets. Revenue recognized during the year ended December 31, 2018 from amounts included in deferred revenue at the beginning of the period was $1,973 million . Disaggregation of Revenue Effective with the Merger, Historical DuPont’s business activities are components of DowDuPont’s business operations. Historical 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 Historical DuPont relates to the company in its entirety. Accordingly, there are no separate reportable business segments for Historical DuPont under ASC 280 “Segment Reporting” and Historical DuPont's business results are reported in this Form 10-K as a single operating segment. 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. The company believes disaggregation of revenue by principal product line best depicts the nature, amount, timing, and uncertainty of its revenue and cash flows. Net sales by principal product line are included below: Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 Agriculture $ 8,995 $ 1,596 $ 6,894 $ 8,131 Packaging and Specialty Plastics 1,579 544 1,072 1,651 Electronics and Imaging 2,097 743 1,422 1,960 Nutrition and Health 4,054 1,165 2,129 3,268 Industrial Biosciences 1,653 573 1,022 1,500 Transportation and Advanced Polymers 4,418 1,355 2,608 3,599 Safety and Construction 3,473 1,074 2,134 3,099 Other 10 3 — 1 Total $ 26,279 $ 7,053 $ 17,281 $ 23,209 Sales are attributed to geographic regions based on customer location. Refer to Note 22 for the breakout of net sales by geographic region. |
Restructuring and Asset Related
Restructuring and Asset Related Charges | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Activities Disclosure [Text Block] | RESTRUCTURING AND ASSET RELATED CHARGES - NET DowDuPont Agriculture Division Restructuring Program During the fourth quarter of 2018 and in connection with the ongoing integration activities, DowDuPont approved restructuring actions to simplify and optimize certain organizational structures within the agriculture product line in preparation for the Intended Business Separations. As a result of these actions, the company expects to record total pre-tax charges of approximately $65 million , comprised of approximately $55 million of severance and related benefits costs; $5 million of asset related charges, and $5 million of costs related to contract terminations. For the year ended December 31, 2018 , Historical DuPont recorded a pre-tax charge of $59 million , recognized in restructuring and asset related charges - net in the company's Consolidated Statement of Operations comprised of $54 million of severance and related benefit costs and $5 million of asset related charges. The company expects actions related to this program to be substantially complete by mid-2019. At December 31, 2018, total liabilities related to the program was $54 million . 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 Synergy Program 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, Historical DuPont expects to record total pre-tax restructuring charges of $575 million to $675 million , comprised of approximately $370 million to $400 million of severance and related benefits costs; $80 million to $100 million of costs related to contract terminations; and $125 million to $175 million of asset related charges. The below is a summary of charges incurred related to the Synergy Program: (In millions) For the Year Ended December 31, 2018 For the Period September 1 through December 31, 2017 Severance and related benefit costs $ 219 $ 153 Contract termination charges 40 31 Asset related charges 63 3 Total restructuring and asset related charges - net 1 $ 322 $ 187 1. The charge for the year ended December 31, 2018 , includes $318 million which was recognized in restructuring and asset related charges - net and $4 million which was recognized in sundry income (expense) - net in the company's Consolidated Statement of Operations. Actions associated with the Synergy Program, including employee separations, are expected to be substantially complete by the end of 2019. Historical DuPont account balances and activity for the Synergy Program are summarized below: (In millions) Severance and Related Benefit Costs Contract Termination Charges Asset Related Charges Total Balance at December 31, 2017 $ 133 $ 28 $ — $ 161 Charges to (loss) income from continuing operations for the year ended December 31, 2018 219 40 63 322 Payments (118 ) (50 ) — (168 ) Asset write-offs — — (63 ) (63 ) Net translation adjustment (5 ) — — (5 ) Balance as of December 31, 2018 $ 229 $ 18 $ — $ 247 2017 Restructuring Program During the first quarter 2017, Historical DuPont committed to take actions to improve plant productivity and better position its product lines for productivity and growth before and after the 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 recognized in restructuring and asset related charges - net in the company's Consolidated Statement 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. At December 31, 2018 and 2017, total liabilities related to the 2017 restructuring program were $4 million and $19 million , respectively. The actions associated with the 2017 restructuring program were substantially complete in 2017. La Porte Plant, La Porte, Texas In March 2016, Historical 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, Historical 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. During the year ended December 31, 2016, 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 a pre-tax charge 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. In connection with the restructuring actions, the company has recorded total pre-tax restructuring charges of $708 million . At December 31, 2018 and 2017, total liabilities related to the 2016 Global Cost Savings and Restructuring Plan were $1 million and $22 million , respectively. The actions associated with this restructuring program were substantially complete in 2016. 2014 Restructuring Program In June 2014, Historical 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 September 1 through December 31, 2017 and the year ended December 31, 2016, benefits of $(2) 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 During the third quarter of 2018, the company recognized an $85 million pre-tax ( $66 million after-tax) impairment charge in restructuring and asset related charges - net in the company's Consolidated Statements of Operations related to certain in-process research and development (“IPR&D") assets within the agriculture reporting unit. Refer to Notes 14 and 21 for further information. In addition, based on updated projections for the company’s investments in nonconsolidated affiliates in China related to the agriculture product line, management determined the fair values of the investments in nonconsolidated affiliates were below the carrying values and had no expectation the fair values would recover due to the continuing unfavorable regulatory environment including lack of intellectual property protection, uncertain product registration timing and limited freedom to operate. As a result, management concluded the impairment was other than temporary and in the third quarter of 2018 recorded an impairment charge of $41 million in restructuring and asset related charges - net in the company's Consolidated Statements of Operations, none of which is tax-deductible. Refer to Note 21 for further information. 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. During the third quarter of 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 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. |
Related Parties (Notes)
Related Parties (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transaction [Line Items] | |
Related Party Transactions Disclosure [Text Block] | RELATED PARTY TRANSACTIONS Services Provided by and to Historical Dow and its affiliates Following the Merger, Historical DuPont reports transactions with Historical Dow and its affiliates as related party transactions. Historical DuPont sells to and procures from Historical Dow and its affiliates certain feedstocks and raw materials that are consumed in each company's manufacturing process, as well as finished goods. Historical DuPont also provides to Historical Dow and its affiliates certain seed production and distribution services. The following table presents amounts due to or due from Historical Dow and its affiliates at December 31, 2018 and December 31, 2017: (In millions) December 31, 2018 December 31, 2017 Accounts and notes receivable - net $ 201 $ 12 Accounts payable $ 288 $ 26 The table below presents revenue earned and expenses incurred in transactions with Historical Dow and its affiliates following the Merger: (In millions) For the Year Ended December 31, 2018 For the Period September 1 through December 31, 2017 Net sales $ 261 $ 20 Cost of goods sold $ 224 $ 20 For the year ended December 31, 2018 and the period September 1 through December 31, 2017, purchases from Historical Dow and its affiliates were $320 million and $49 million , respectively. Historical DuPont also received transfers of certain feedstocks and energy from Historical Dow and its affiliates at cost which totaled $343 million for the year ended December 31, 2018. Transactions with DowDuPont DowDuPont primarily relies on distributions and other intercompany transfers from Historical DuPont and Historical Dow to fund payment of its costs and expenses. In November 2017, DowDuPont's Board of Directors authorized an initial $4,000 million share repurchase program to buy back shares of DowDuPont common stock. The $4,000 million share repurchase program was completed in the third quarter of 2018. In February, May, August and November 2018, the Board declared first, second, third and fourth quarter dividends per share of DowDuPont common stock payable on March 15, 2018, June 15, 2018, September 15, 2018 and December 14, 2018, respectively. For the year ended December 31, 2018 and the period September 1 through December 31, 2017, Historical DuPont declared and paid distributions in cash to DowDuPont of about $2,806 million and $829 million , respectively, primarily to fund a portion of DowDuPont’s share repurchases and dividend payments for these periods. In contemplation of the Intended Business Separations and to achieve the respective credit profiles of each of the intended future companies, DowDuPont completed a series of financing transactions in the fourth quarter of 2018, which included an offering of senior unsecured notes and the establishment of new term loan facilities (the “financing transactions”). In November and December of 2018, DowDuPont contributed a portion of the net proceeds of the notes offering to Historical DuPont to pay off or retire a portion of Historical DuPont’s existing debt liabilities, with additional contributions expected before the Intended Business Separations. See Note 15 for additional information. In addition, at December 31, 2018 and 2017, Historical DuPont had a payable to DowDuPont of $103 million and $354 million , respectively, included in accounts payable in the Consolidated Balance Sheets related to its estimated 2018 and 2017 tax liabilities. See Note 9 for additional information. |
Supplementary Information
Supplementary Information | 12 Months Ended |
Dec. 31, 2018 | |
Supplementary Information [Abstract] | |
Additional Financial Information Disclosure [Text Block] | SUPPLEMENTARY INFORMATION Sundry Income (Expense) - Net Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 Royalty income 1 $ 84 $ 170 Interest income $ 92 $ 41 83 102 Equity in earnings of affiliates - net 51 1 55 99 Net gain on sales of businesses and other assets 2,3 26 16 205 435 Net exchange (losses) gains (110 ) 8 (394 ) (106 ) Non-operating pension and other post employment benefit credit (cost) 4 368 134 (278 ) (40 ) Miscellaneous income and expenses - net 5 116 24 132 7 Sundry income (expense) - net $ 543 $ 224 $ (113 ) $ 667 1. In the Successor periods, royalty income of $170 million and $60 million is included in Net Sales for the year ended December 31, 2018 and the period September 1, 2017 through December 31, 2017, respectively. 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 Historical DuPont (Shenzhen) Manufacturing Limited. See Note 4 for additional information. 4. Includes non-service components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized (gain) loss, amortization of prior service benefit and curtailment/settlement gain). See Note 2 for discussion of ASU No. 2017-07. 5. Miscellaneous income and expenses - net, includes interest items (in the Predecessor periods 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 (expense) - net and the related tax impact is recorded in provision for (benefit from) income taxes on continuing operations in the Consolidated Statements of Operations. Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 Subsidiary Monetary Position (Loss) Gain Pre-tax exchange (loss) gain 1 $ (204 ) $ (83 ) $ 37 $ 198 Local tax benefits (expenses) 19 (3 ) 217 (126 ) Net after-tax impact from subsidiary exchange (loss) gain $ (185 ) $ (86 ) $ 254 $ 72 Hedging Program Gain (Loss) Pre-tax exchange gain (loss) 2 $ 94 $ 91 $ (431 ) $ (304 ) Tax (expenses) benefits (21 ) (33 ) 155 110 Net after-tax impact from hedging program exchange gain (loss) $ 73 $ 58 $ (276 ) $ (194 ) Total Exchange (Loss) Gain Pre-tax exchange (loss) gain $ (110 ) $ 8 $ (394 ) $ (106 ) Tax (expenses) benefits (2 ) (36 ) 372 (16 ) Net after-tax exchange (loss) gain $ (112 ) $ (28 ) $ (22 ) $ (122 ) 1. Includes a net $75 million pre-tax exchange loss associated with the devaluation of the Argentine peso for the twelve months ended December 31, 2018. 2. Includes a $50 million foreign exchange loss for the twelve months ended December 31, 2018 related to adjustments to foreign currency exchange contracts as a result of U.S. tax reform. Cash, cash equivalents and restricted cash The following table provides a reconciliation of cash and cash equivalents and restricted cash (included in other current assets) presented in the Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash presented in the Consolidated Statements of Cash Flows. See Note 2 for additional information. (In millions) December 31, 2018 December 31, 2017 Cash and cash equivalents $ 4,466 $ 7,250 Restricted cash 500 558 Total cash, cash equivalents and restricted cash $ 4,966 $ 7,808 Historical DuPont entered into a trust agreement in 2013 (as amended and restated in 2017), establishing and requiring Historical DuPont to fund a trust (the "Trust") for cash obligations under certain non-qualified benefit and deferred compensation plans upon a change in control event as defined in the Trust agreement. Under the Trust agreement, the consummation of the Merger was a change in control event. Restricted cash at December 31, 2018 and December 31, 2017 is related to the Trust. Accrued and other current liabilities Accrued and other current liabilities were $4,233 million at December 31, 2018 and $4,384 million at December 31, 2017 . Deferred revenue and compensation and other employee-related costs, which are components of accrued and other current liabilities, were $1,927 million and $662 million at December 31, 2018 , respectively and $2,014 million and $857 million at December 31, 2017 , respectively. No other components of accrued and other current liabilities were more than 5 percent of total current liabilities. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
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 certain 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 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"), income tax effects of The Act were refined upon obtaining, preparing, or analyzing additional information during the measurement period. At December 31, 2018, the company had completed its accounting for the tax effects of The Act. • 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 . The company recorded a cumulative benefit of $2,755 million ( $2,716 million benefit in the year ended December 31, 2017 and $39 million benefit in the year ended December 31, 2018) to the provision for (benefit from) income taxes on continuing operations with respect to the remeasurement of the company's deferred tax balances. Of the $39 million benefit booked in the year ended December 31, 2018, $114 million relates to the company's discretionary pension contribution in 2018, which was deducted on a 2017 tax return. The remaining charges relate to purchase accounting adjustments made throughout 2018. • 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. The company recorded a cumulative charge of $859 million ( $715 million charge in the year ended December 31, 2017 and $144 million charge in the year ended December 31, 2018) to the provision for (benefit from) income taxes on continuing operations with respect to the one-time transition tax. • In the year ended December 31, 2018 , the company recorded an indirect impact of The Act related to prepaid tax on the intercompany sale of inventory. The amount recorded related to inventory was a $16 million charge to provision for income taxes on continuing operations. • 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”). The company has made the policy election to record any liability associated with GILTI in the period in which it is incurred. Geographic Allocation of (Loss) Income and Provision for (Benefit from) Income Taxes Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 (Loss) Income from continuing operations before income taxes Domestic $ (4,496 ) $ (811 ) $ 409 $ 1,415 Foreign (297 ) (775 ) 1,382 1,308 (Loss) Income from continuing operations before income taxes $ (4,793 ) $ (1,586 ) $ 1,791 $ 2,723 Current tax expense (benefit) Federal $ (333 ) $ 216 $ (563 ) $ 4 State and local 5 22 (11 ) 9 Foreign 453 187 282 539 Total current tax expense (benefit) $ 125 $ 425 $ (292 ) $ 552 Deferred tax expense (benefit) Federal $ 162 $ (2,790 ) $ 476 $ 22 State and local (29 ) (48 ) (8 ) (29 ) Foreign (38 ) (260 ) (27 ) 96 Total deferred tax expense (benefit) $ 95 $ (3,098 ) $ 441 $ 89 Provision for (Benefit from) income taxes on continuing operations 220 (2,673 ) 149 641 Net (loss) income from continuing operations $ (5,013 ) $ 1,087 $ 1,642 $ 2,082 Pre-tax loss from continuing operations for the year ended December 31, 2018 includes a non-deductible $4,503 million non-cash goodwill impairment charge associated with the agriculture reporting unit, of which $3,193 million related to the U.S. and the remaining $1,310 million related to foreign operations. In connection with the Merger, pre-tax loss from continuing operations for the year ended December 31, 2018 and 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 $1,628 million and $1,469 million , respectively, recognized in cost of goods sold related to the fair value step-up of inventories (See Note 3 for further information). Additionally, global pre-tax earnings from continuing operations for the year ended December 31, 2018, the period September 1 through December 31, 2017, the period January 1 through August 31, 2017, and the year ended December 31, 2016 includes transaction costs associated with the Merger of $1,375 million , $314 million , $581 million , and $386 million , respectively. Reconciliation to U.S. Statutory Rate Successor Predecessor For the Year Ended December 31, 2018 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 Statutory U.S. federal income tax rate 21.0 % 35.0 % 35.0 % 35.0 % Equity earning effect 0.2 0.9 (0.5 ) (0.8 ) Effective tax rates on international operations - net 0.5 (9.5 ) (11.4 ) (9.2 ) Acquisitions, divestitures and ownership restructuring activities 1, 2, 3 (1.6 ) 15.8 5.2 1.9 U.S. research and development credit 0.6 0.4 (0.8 ) (0.7 ) Exchange gains/losses 4 (0.5 ) (1.8 ) (12.9 ) 1.9 SAB 118 Impact of Enactment of U.S. Tax Reform 5 (2.5 ) 126.1 Excess tax benefits from stock compensation 6 0.1 0.1 (1.7 ) Tax settlements and expiration of statute of limitations 7 0.2 — (3.8 ) (1.1 ) Goodwill impairment 8 (21.4 ) — — — Other - net (1.2 ) 1.5 (0.8 ) (3.5 ) Effective tax rate (4.6 )% 168.5 % 8.3 % 23.5 % 1. See Notes 3 and 4 for additional information. 2. Includes a net tax charge of $74 million related to repatriation activities to facilitate the Intended Business Separations for the year ended December 31, 2018. 3. Includes a net tax charge of $25 million and a net tax benefit of $261 million for the year ended December 31, 2018 and the period September 1 through December 31, 2017, respectively, related to an internal legal entity restructuring associated with the Intended Business Separations. 4. 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 8 and Note 20 under the heading Foreign Currency Risk. 5. Reflects a net tax charge of $121 million associated with the company's completion of the accounting for the tax effects of The Act for the year ended December 31, 2018. 6. Reflects the impact of the adoption of ASU 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting, which was adopted January 1, 2017 and resulted in the recognition of excess tax benefits related to equity compensation in the (benefit from) provision for income taxes on continuing operations. 7. The period January 1 through August 31, 2017 includes a tax benefit of $53 million for accrued interest reversals (recorded in sundry income (expense) - net). 8. Reflects the impact of the non-tax-deductible impairment charge for the agriculture reporting unit and corresponding $75 million tax charge associated with a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil for the year ended December 31, 2018. Deferred Tax Balances at December 31 2018 2017 (In millions) Assets Liabilities Assets Liabilities Property $ — $ 1,043 $ — $ 1,160 Tax loss and credit carryforwards 1 1,390 — 1,452 — Accrued employee benefits 1,802 169 1,988 68 Other accruals and reserves 323 51 333 39 Intangibles 320 5,876 284 6,286 Inventory 129 371 130 597 Long-term debt 24 — 109 — Investments 114 581 23 453 Unrealized exchange gains/losses — 141 — 71 Other – net 280 141 260 121 Subtotal $ 4,382 $ 8,373 $ 4,579 $ 8,795 Valuation allowances 1,2,3 (1,087 ) — (1,140 ) — Total $ 3,295 $ 8,373 $ 3,439 $ 8,795 Net Deferred Tax Liability $ (5,078 ) $ (5,356 ) 1. Primarily related to the realization of recorded tax benefits on tax loss carryforwards from operations in the United States, Brazil, and Luxembourg. 2. The company has corrected its valuation allowance (with a corresponding reduction in tax loss and credit carryforwards) in the amount of $238 million as a result of a change in the Delaware state apportionment methodology. 3. During the year ended December 31, 2018 , the company established a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil due to revised financial projections, resulting in tax expense of $75 million . See Note 14 for additional information. Operating Loss and Tax Credit Carryforwards Deferred Tax Asset (In millions) 2018 2017 Operating loss carryforwards Expire within 5 years $ 76 $ 42 Expire after 5 years or indefinite expiration 1,137 1,245 Total operating loss carryforwards $ 1,213 $ 1,287 Tax credit carryforwards Expire within 5 years $ 8 $ 10 Expire after 5 years or indefinite expiration 169 155 Total tax credit carryforwards $ 177 $ 165 Total Operating Loss and Tax Credit Carryforwards $ 1,390 $ 1,452 Total Gross Unrecognized Tax Benefits 1 Successor Predecessor For the Year Ended December 31, 2018 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 (In millions) Total unrecognized tax benefits as of beginning of period $ 741 $ 709 $ 596 $ 906 Decreases related to positions taken on items from prior years (44 ) (2 ) (19 ) (46 ) Increases related to positions taken on items from prior years 74 9 3 33 Increases related to positions taken in the current year 9 28 49 55 Settlement of uncertain tax positions with tax authorities (13 ) 1 (6 ) (314 ) Decreases due to expiration of statutes of limitations (5 ) (5 ) (86 ) (41 ) Exchange (gain) loss (13 ) 1 1 3 Total unrecognized tax benefits as of end of period $ 749 $ 741 $ 538 $ 596 Total unrecognized tax benefits that, if recognized, would impact the effective tax rate $ 157 $ 253 $ 188 $ 253 Total amount of interest and penalties (benefit) recognized in Provision for income taxes on continuing operations $ 11 $ 1 $ (27 ) $ 10 Total accrual for interest and penalties associated with unrecognized tax benefits $ 45 $ 47 $ 40 $ 98 1. The prior year amounts have been revised for amounts previously omitted. 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 2013 China 2014 Denmark 2012 Germany 2006 India 2001 The Netherlands 2017 Switzerland 2014 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 $15,565 million at December 31, 2018 and $15,408 million at December 31, 2017. In addition to the U.S. federal tax imposed by The Act on all accumulated unrepatriated earnings through December 31, 2017, The Act introduced additional U.S. federal tax on foreign earnings, effective as of January 1, 2018. The undistributed foreign earnings as of December 31, 2018 may still be subject to certain taxes upon repatriation, primarily where foreign withholding taxes apply. The company is still asserting indefinite reinvestment related to certain investments in foreign subsidiaries. It is not practicable to calculate the unrecognized deferred tax liability on undistributed foreign earnings due to the complexity of the hypothetical calculation. During 2018, in connection with the Intended Business Separations, the company repatriated certain funds from its non-U.S. subsidiaries that were not needed to finance local operations. During the year ended December 31, 2018 , the company recorded net tax expense of $74 million associated with foreign withholding tax incurred in connection with these repatriation activities. Historical 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. Historical DuPont and Historical 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, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | EARNINGS PER SHARE OF COMMON STOCK Upon completion of the Merger, each share of Historical 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 periods. 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: (In millions, except share amounts) For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 Numerator: Income from continuing operations after income taxes attributable to Historical DuPont $ 1,624 $ 2,072 Preferred dividends (7 ) (10 ) Income from continuing operations after income taxes available to Historical DuPont common stockholders $ 1,617 $ 2,062 Income from discontinued operations after income taxes available to Historical DuPont common stockholders 117 441 Net income available to common stockholders $ 1,734 $ 2,503 Denominator: Weighted-average number of common shares outstanding - Basic 867,888,000 872,560,000 Dilutive effect of the company’s employee compensation plans 4,532,000 4,476,000 Weighted-average number of common shares outstanding - Diluted 872,420,000 877,036,000 The following average number of stock options were antidilutive, and therefore not included in the dilutive earnings per share calculations: For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 Average number of stock options 1,906 4,794,000 |
Accounts and Notes Receivable,
Accounts and Notes Receivable, Net | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Accounts and Notes Receivables, Net | ACCOUNTS AND NOTES RECEIVABLE - NET (In millions) December 31, December 31, Accounts receivable – trade 1 $ 3,912 $ 3,777 Notes receivable – trade 2 218 199 Other 3 1,404 1,263 Total accounts and notes receivable - net $ 5,534 $ 5,239 1. Accounts receivable – trade is net of allowances of $85 million at December 31, 2018 and $10 million at December 31, 2017. 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, 2018 and 2017, there were no significant past due notes receivable which required a reserve, nor were there any significant impairments related to current loan agreements. 3. Other includes receivables in relation to value added tax, fair value of derivative instruments, indemnification assets, related parties (see Note 7 for further information), and 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, 2018 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | INVENTORIES (In millions) December 31, December 31, Finished products $ 4,204 $ 4,500 Semi-finished products 1,769 2,769 Raw materials 481 371 Stores and supplies 441 447 Total $ 6,895 $ 8,087 Adjustment of inventories to a LIFO basis 512 546 Total inventories $ 7,407 $ 8,633 As a result of the Merger, a fair value step-up of $3,840 million was recorded for inventories. Of this amount, $1,563 million and $1,434 million was recognized in cost of goods sold within (loss) income from continuing operations for the year ended December 31, 2018 and the period September 1 through December 31, 2017, respectively. See Note 3 for additional information regarding the Merger. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | PROPERTY, PLANT AND EQUIPMENT (In millions) December 31, 2018 December 31, 2017 Land and land improvements $ 915 $ 913 Buildings 2,656 2,747 Machinery and equipment 8,731 8,104 Construction in progress 1,604 1,114 Total property, plant and equipment 13,906 12,878 Accumulated depreciation (1,720 ) (443 ) Total property, plant and equipment - net $ 12,186 $ 12,435 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 Year Ended December 31, 2018 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 Depreciation expense $ 1,308 $ 426 $ 589 $ 907 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
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 year ended December 31, 2018 , the period September 1 through December 31, 2017 , and the period January 1 through August 31, 2017 : (In millions) 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 Currency Translation Adjustment (806 ) Measurement Period Adjustments - Merger 392 Measurement Period Adjustments - H&N Business 14 Goodwill Impairment Loss (4,503 ) Balance as of December 31, 2018 ( Successor ) $ 40,686 The company tests goodwill and intangible assets for impairment annually during the fourth quarter or more frequently when events or changes in circumstances indicate that the fair value is below its carrying value. As mentioned in Note 1 , in connection with the Merger, the company’s assets and liabilities were measured at fair value as of the date of the Merger. As the carrying value and the fair value of all reporting units and assets were equal at this date, this resulted in little, if any, margin of fair value in excess of carrying value. As a result, the company’s reporting units became susceptible to impairment for any decline in fair value. In connection with the Merger, the company adopted the policy of DowDuPont and performs its annual goodwill impairment test in the fourth quarter. In the fourth quarter 2017, a qualitative assessment was performed on all reporting units that carry goodwill. Based on the qualitative assessment, management concluded it was not more likely than not that the carrying value of the reporting unit exceeds the fair value of the reporting unit, and therefore no impairment was recorded. During the third quarter of 2018, and in connection with strategic business reviews, the company assembled updated financial projections. The revised financial projections of the agriculture reporting unit assessed and quantified the impacts of developing market conditions, events and circumstances that have evolved throughout 2018, resulting in a reduction in the forecasts of sales and profitability as compared to prior forecasts. The reduction in financial projections was principally driven by lower growth in sales and margins in North America and Latin America and unfavorable currency impacts related to the Brazilian real. The lower growth expectation is driven by reduced planted area, an expected unfavorable shift to soybeans from corn in Latin America, and delays in expected product registrations. In addition, decreases in commodity prices and higher than anticipated industry grain inventories are expected to impact farmers’ income and buying choices resulting in shifts to lower technologies and pricing pressure. The company considered the combination of these factors and the resulting reduction in its forecasted projections for the agriculture reporting unit and determined it was more likely than not that the fair value of the agriculture reporting unit was less than the carrying value, thus requiring the performance of an updated goodwill and intangible asset impairment analysis for the agriculture reporting unit as of September 30, 2018. The company performed an interim impairment analysis for the agriculture reporting unit using a discounted cash flow model (a form of the income approach), utilizing Level 3 unobservable inputs. The company’s significant estimates in this analysis include, but are not limited to, future cash flow projections, Merger-related cost and growth synergies, the weighted average cost of capital, the terminal growth rate, and the tax rate. The company believes the current assumptions and estimates utilized are both reasonable and appropriate. The key assumption driving the change in fair value was the lower financial projections discussed above. Future cash flow estimates are, by their nature, subjective and actual results may differ materially from the company’s estimates. If the company’s ongoing estimates of future cash flows are not met, the company may have to record additional impairment charges in future periods. The company’s estimates of future cash flows are based on current regulatory and economic climates, recent operating results, and planned business strategy. These estimates could be negatively affected by changes in federal, state, or local regulations or economic downturns. Based on the analysis performed, the company determined that the carrying amount of the agriculture reporting unit exceeded its fair value resulting in a pre-tax, non-cash goodwill impairment charge of $4,503 million , reflected in goodwill impairment charge in the company’s Consolidated Statement of Operations for the year ended December 31, 2018 . None of the charge was tax-deductible. In reviewing the indefinite-lived intangible assets, the company also determined that the fair value of certain IPR&D assets had declined as a result of delays in timing of commercialization and increases to expected R&D costs. The company performed an analysis of the fair value using the relief from royalty method (a form of the income approach) using Level 3 inputs within the fair value hierarchy. 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. As a result, the company recorded a pre-tax, non-cash intangible asset impairment charge of $85 million ( $66 million after tax), which is reflected in restructuring and asset related charges - net, in the company's Consolidated Statement of Operations for the year ended December 31, 2018 . In the fourth quarter of 2018, the company performed quantitative testing on all of its reporting units and determined that no further impairments exist. Due to the carrying value and fair value of the reporting units being equal at the date of the Merger resulting in little, if any, margin of fair value in excess of carrying value, the company believes all reporting units are at risk to have impairment charges in future periods. Other Intangible Assets The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows: (In millions) December 31, 2018 December 31, 2017 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets subject to amortization (Definite-lived): Customer-related $ 9,325 $ (744 ) $ 8,581 $ 9,502 $ (186 ) $ 9,316 Developed technology 4,506 (628 ) 3,878 4,364 (144 ) 4,220 Trademarks/trade names 1,084 (114 ) 970 1,117 (26 ) 1,091 Favorable supply contracts 475 (111 ) 364 495 (17 ) 478 Microbial cell factories 386 (22 ) 364 397 (6 ) 391 Other 1 377 (32 ) 345 459 (10 ) 449 Total other intangible assets with finite lives 16,153 (1,651 ) 14,502 16,334 (389 ) 15,945 Intangible assets not subject to amortization (Indefinite-lived): IPR&D 2 545 — 545 660 — 660 Germplasm 3 6,265 — 6,265 6,265 — 6,265 Trademarks / trade names 4,741 — 4,741 4,856 — 4,856 Total other intangible assets 11,551 — 11,551 11,781 — 11,781 Total $ 27,704 $ (1,651 ) $ 26,053 $ 28,115 $ (389 ) $ 27,726 1. Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements. 2. Refer to discussion of impairment analysis above. 3. Germplasm is the pool of genetic source material and body of knowledge gained from the development and delivery stage of plant breeding. 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 $27,071 million of intangible assets, as shown in the table below, representing the 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) (Amounts in millions) Intangible assets with finite lives: Customer-related $ 9,215 17 Developed technology 4,239 12 Trademarks/trade names 1,045 16 Microbial cell factories 400 23 Other 461 17 Total other intangible assets with finite lives $ 15,360 Intangible assets with indefinite lives: IPR&D $ 660 Germplasm 6,263 Trademarks/trade names 4,788 Total intangible assets $ 27,071 The aggregate pre-tax amortization expense from continuing operations for definite-lived intangible assets was $1,281 million for the year ended December 31, 2018 , $389 million for the period September 1 through December 31, 2017 , $139 million for the period January 1 through August 31, 2017 , and $319 million for the year ended December 31, 2016 , respectively. Total estimated amortization expense for the next five fiscal years is as follows: (In millions) 2019 $ 1,228 2020 $ 1,211 2021 $ 1,199 2022 $ 1,182 2023 $ 1,078 |
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 (In millions) December 31, 2018 December 31, 2017 Commercial paper $ 1,847 $ 1,436 Other loans - various currencies 16 28 Long-term debt payable within one year 268 1,314 Capital lease obligations payable within one year 29 1 Total short-term borrowings and capital lease obligations $ 2,160 $ 2,779 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 21 . 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 $2,160 million and $2,780 million at December 31, 2018 and 2017, respectively. The weighted-average interest rate on short-term borrowings outstanding at December 31, 2018 and 2017 was 3.0 percent and 1.8 percent , respectively. The increase in the interest rate for 2018 was primarily due to higher borrowing rates on commercial paper. Long-Term Debt December 31, 2018 December 31, 2017 (In millions) Amount Weighted Average Rate Amount Weighted Average Rate Promissory notes and debentures 1 : Final maturity 2018 $ — — % $ 1,280 1.59 % Final maturity 2019 263 2.23 % 521 2.23 % Final maturity 2020 2,496 2.14 % 3,070 1.79 % Final maturity 2021 475 2.08 % 1,580 2.07 % Final maturity 2023 386 2.48 % 1,269 2.48 % Final maturity 2024 and thereafter 249 3.69 % 2,223 3.80 % Other facilities: Term loan due 2020 2 2,000 3.46 % 1,500 2.35 % Other loans 15 4.32 % 18 4.32 % Foreign currency loans, various rates and maturities — — % 30 2.85 % Medium-term notes, varying maturities through 2043 110 2.37 % 110 1.22 % Capital lease obligations 88 4 Less: Unamortized debt discount and issuance costs 2 — Less: Long-term debt due within one year 268 1,314 Total $ 5,812 $ 10,291 1. See discussion of debt extinguishment that follows. 2. The Term Loan Facility was amended in 2018 to extend the maturity date to June 2020. 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) 2019 $ 295 2020 $ 4,504 2021 $ 484 2022 $ 17 2023 $ 392 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 21 . 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 $5,800 million and $10,250 million at December 31, 2018 and 2017, respectively. Available Committed Credit Facilities The following table summarizes the company's credit facilities: Committed and Available Credit Facilities at December 31, 2018 (In millions) Effective Date Committed Credit Credit Available Maturity Date Interest Revolving Credit Facility March 2018 $ 3,000 $ 2,956 June 2020 Floating Rate Term Loan Facility March 2018 4,500 2,500 June 2020 Floating Rate Total Committed and Available Credit Facilities $ 7,500 $ 5,456 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 18 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 Historical DuPont may make up to seven term loan borrowings and amounts repaid or prepaid are not available for subsequent borrowings. 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 was amended in 2018 to extend the maturity date to June 2020, at which time all outstanding borrowings, including accrued but unpaid interest, become immediately due and payable, and to extend the date on which the commitment to lend terminates to June 2019. At December 31, 2018 , the company had made four term loan borrowings in an aggregate principal amount of $2,000 million and had unused commitments of $2,500 million under the Term Loan Facility. In 2018, the company also amended its $3,000 million revolving credit facility to extend the maturity date to June 2020. Debt Extinguishment On November 13, 2018, Historical DuPont launched a tender offer (the “Tender Offer”) to purchase $6.2 billion aggregate principal amount of its outstanding debt securities (the “Tender Notes”). The Tender Offer expired on December 11, 2018 (the “Expiration Date”). At the Expiration Date, $4,409 million aggregate principal amount of the Tender Notes had been validly tendered and was accepted for payment. In exchange for such validly tendered Tender Notes, Historical DuPont paid a total of $4,849 million , which included breakage fees and all applicable accrued and unpaid interest on such Tender Notes. DowDuPont contributed cash (generated from its notes offering) to Historical DuPont to fund the settlement of the Tender Offer and payment of associated fees. Historical DuPont recorded a loss from early extinguishment of debt of $81 million , primarily related to the difference between the redemption price and the par value of the notes, mostly offset by the write-off of unamortized step-up related to the fair value step-up of Historical DuPont’s debt. Uncommitted Credit Facilities and Outstanding Letters of Credit Unused bank credit lines on uncommitted credit facilities were $663 million at December 31, 2018. These lines are available to support short-term liquidity needs and general corporate purposes including letters of credit. Outstanding letters of credit were $172 million at December 31, 2018. 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, 2018 | |
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, 2018 , 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, 2018 and December 31, 2017 , the company had directly guaranteed $259 million and $297 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 17 percent of the $90 million of guaranteed obligations of customers and suppliers. Set forth below are the company's guaranteed obligations at December 31, 2018 . The following tables provide a summary of the final expiration and maximum future payments for each type of guarantee: Guarantees at December 31, 2018 Final Expiration Maximum Future Payments (In millions) Obligations for customers 1 : Bank borrowings 2022 $ 90 Obligations for non-consolidated affiliates 2 : Bank borrowings 2019 165 Residual value guarantees 3 2025 4 Total guarantees $ 259 1. Existing guarantees for select customers, as part of contractual agreements. The terms of the guarantees are equivalent to the terms of the customer loans that are primarily made to finance customer invoices. Of the total maximum future payments, $89 million had terms less than a year. 2. Existing guarantees for non-consolidated affiliates' liquidity needs in normal operations. 3. 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 under non-cancelable operating leases are $242 million , $128 million , $90 million , $66 million and $44 million for the years 2019 , 2020 , 2021 , 2022 and 2023 , respectively, and $85 million for subsequent years and are not reduced by non-cancelable minimum sublease rentals due in the future in the amount of $2 million . Net rental expense under operating leases was $271 million , $105 million , $179 million and $242 million for the year ended December 31, 2018, for periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016, 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 Liabilities Historical DuPont is a party to legal proceedings relating to the use of PFOA (collectively, perfluorooctanoic acids and its salts, including the ammonium salt) by its former Performance Chemicals segment, which separated from DuPont in July 2015 through the spin-off of all the issued and outstanding stock of Chemours. While it is reasonably possible that the company could incur liabilities related to PFOA, any such liabilities are not expected to be material. As discussed in Note 4 and below, the company is indemnified by Chemours under the Chemours Separation Agreement, as amended. The company has recorded a liability of $20 million and an indemnification asset of $20 million at December 31, 2018 , primarily related to testing drinking water in and around certain historic 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. Leach Settlement and MDL Settlement Historical DuPont has residual liabilities under its 2004 settlement of a West Virginia state court class action, Leach v. DuPont, which alleged that PFOA from Historical DuPont’s former Washington Works facility had contaminated area drinking water supplies and affected the health of area residents. The settlement class has about 80,000 members. In addition to relief that was provided to class members years ago, the settlement requires Historical DuPont to continue providing PFOA water treatment to six area water districts and private well users and to fund, through an escrow account, up to $235 million for a medical monitoring program for eligible class members. As of December 31, 2018 , approximately $2 million had been contributed to the account since its establishment in 2012 and $1 million disbursed. The Leach settlement permits class members to pursue personal injury claims for six health conditions (and no others) that an expert panel appointed under the settlement reported in 2012 had a “probable link” (as defined in the settlement) with PFOA: pregnancy-induced hypertension, including preeclampsia; kidney cancer; testicular cancer; thyroid disease; ulcerative colitis; and diagnosed high cholesterol. After the expert panel reported its findings, approximately 3,550 personal injury lawsuits were filed in federal and state courts in Ohio and West Virginia and consolidated in multi-district litigation in the U.S. District Court for the Southern District of Ohio (“MDL”). The MDL was settled in early 2017 for $670.7 million in cash, with Chemours and Historical DuPont (without indemnification from Chemours) each paying half. Post-MDL Settlement PFOA Personal Injury Claims The MDL settlement did not resolve claims of plaintiffs who did not have claims in the MDL or whose claims are based on diseases first diagnosed after February 11, 2017. At December 31, 2018 , approximately 43 lawsuits were pending alleging personal injury, including kidney and testicular cancer, thyroid disease and ulcerative colitis, from exposure to PFOA through air or water, only 3 of which are not part of the MDL or were not otherwise filed on behalf of Leach class members. Other PFOA Actions Historical DuPont is a party to other PFOA lawsuits that do not involve claims for personal injury. Chemours, pursuant to the Chemours Separation Agreement, is defending all of these lawsuits. New York . Historical DuPont is a defendant in about 25 lawsuits, including a putative class action, brought by persons who live in and around Hoosick Falls, New York. These lawsuits assert claims for medical monitoring and property damage based on alleged PFOA releases from manufacturing facilities owned and operated by co-defendants in Hoosick Falls and allege that Historical DuPont and 3M supplied some of the materials used at these facilities. Historical DuPont is also one of more than ten defendants in a lawsuit brought by the Town of East Hampton, New York alleging PFOA and perfluorooctanesulfonic acid ("PFOS") contamination of the town’s well water. New Jersey . Historical DuPont is a defendant in two lawsuits alleging that PFOA from Historical DuPont’s former Chambers Works facility contaminated drinking water sources. One lawsuit is by a local water utility and the other is a putative class action on behalf of persons who live within two to three miles of the Chambers Works facility. Alabama . Historical DuPont is one of more than thirty defendants in one lawsuit by a local water utility alleging contamination from perfluorinated chemicals and compounds (“PFCs”), including PFOA, used by co-defendant carpet manufacturers to make their products more stain and grease resistant. Ohio . Historical DuPont is a defendant in two lawsuits, one brought by the State of Ohio based on alleged damage to natural resources, and the other a putative nationwide class action brought on behalf of anyone who has detectable levels of perfluorinated chemicals, including PFOA, in their blood. Chemours Separation Agreement Amendment As discussed in Note 4 , concurrent with the MDL Settlement, Historical DuPont and Chemours amended the Chemours Separation Agreement to provide for a limited sharing of potential future PFOA liabilities for a five -year period that began on July 6, 2017. During that five -year period, Chemours will annually pay the first $25 million of future PFOA liabilities and, if that amount is exceeded, Historical DuPont will pay any excess amount up to the next $25 million , with Chemours annually bearing any excess liabilities above that amount. At the end of the five -year period, this limited sharing agreement will expire, and Chemours’ indemnification obligations under the Chemours Separation Agreement will continue unchanged. As part of this amendment, Chemours also agreed that it would not contest its liability for PFOA liabilities on the basis of certain ostensible defenses it had previously raised, including defenses relating to punitive damages, and would waive 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 Chemours Separation Agreement. There have been no charges incurred by Historical DuPont under this arrangement through December 31, 2018 . 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 in Bladen County, North Carolina. The facility is now owned and operated by Chemours, which continues to manufacture and use GenX. In 2017, the facility became and continues to be the subject of inquiries and government investigations relating to the alleged discharge of GenX and certain similar compounds into the air and Cape Fear River. In August 2017, the U.S. Attorney’s Office for the Eastern District of North Carolina served the company with a grand jury subpoena for testimony and documents related to these discharges. Historical DuPont was served with additional subpoenas relating to the same issue and in the second quarter 2018, received a subpoena expanding the scope to any PFCs discharged 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, the company, or both. At December 31, 2018 , several actions are pending in federal court against Chemours and the company. One of these actions is a consolidated putative class action that asserts claims for medical monitoring and property damage on behalf of putative classes of property owners and residents in areas near or who draw drinking water from the Cape Fear River. Another action is a consolidated action brought by various North Carolina water authorities, including the Cape Fear Public Utility Authority and Brunswick County, that seek actual and punitive damages as well as injunctive relief. In addition, an action is pending in North Carolina state court on behalf of about 100 plaintiffs who own wells and property near the Fayetteville Works facility. The plaintiffs seek damages for nuisance allegedly caused by releases of certain PFCs from the site. While it is reasonably possible that the company could incur liabilities related to the actions described above, any such liabilities are not expected to be material. 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, 2018 , Chemours, with reservations, 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, 2018 , the company had accrued obligations of $381 million for probable environmental remediation and restoration costs, including $54 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 $750 million above the amount accrued at December 31, 2018 . 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. 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, 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. Pursuant to the Chemours Separation Agreement, the company is indemnified by Chemours for certain environmental matters that have an estimated liability of $193 million as of December 31, 2018 , which is included in the company’s liability of $381 million , and a potential exposure that ranges up to approximately $310 million above the amount accrued. As such, the company has recorded an indemnification asset of $193 million corresponding to the company’s accrual balance related to these matters at December 31, 2018 , including $35 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, Historical DuPont announced its intention to buy back shares of about $4,000 million using the distribution proceeds received from Chemours. 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. Treasury Stock Immediately prior to the closing of the Merger Transaction, all 87 million shares of Historical 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 year ended December 31, 2018, the period September 1, 2017 through December 31, 2017, the period January 1 through August 31, 2017 and the year ended December 31, 2016 . Shares of common stock Issued Held In Treasury Balance January 1, 2016 (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, 2017, December 31, 2017 and December 31, 2018 (Successor) 1 100 — 1. All of the company's issued and outstanding common stock is held by the DowDuPont Inc. at September 1, 2017 and December 31, 2018. Noncontrolling Interest During the year ended December 31, 2018, DowDuPont recorded measurement period adjustments reflect facts and circumstances in existence as of the Merger Effectiveness Time, which included an increase of $61 million in noncontrolling interests. See Note 3 for further information regarding The Merger and final purchase price allocations. Other Comprehensive (Loss) Income 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 2016 Balance January 1, 2016 (Predecessor) $ (2,333 ) $ (24 ) $ (7,043 ) $ 22 $ (18 ) $ (9,396 ) 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 ) 2018 Other comprehensive income (loss) before reclassifications (1,512 ) (19 ) (723 ) 132 — (2,122 ) Amounts reclassified from accumulated other comprehensive income (loss) — (5 ) 5 — — — Net other comprehensive (loss) income (1,512 ) (24 ) (718 ) 132 — (2,122 ) Balance December 31, 2018 (Successor) $ (1,966 ) $ (26 ) $ (590 ) $ 79 $ — $ (2,503 ) 1. The cumulative translation adjustment losses for the year ended December 31, 2018, and for the period September 1 through December 31, 2017, are primarily driven by the strengthening of the 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. 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 18 for additional information. 3. In connection with the Merger, previously unrecognized prior service benefits and net losses related to Historical DuPont's pension and other post employment benefit ("OPEB") plans were eliminated as a result of reflecting the balance sheet at fair value as of the date of the Merger. See Note 3 and 18 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 Year Ended December 31, 2018 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 Derivative instruments $ 6 $ 1 $ 6 $ (19 ) Pension benefit plans - net 201 (37 ) (145 ) (163 ) Other benefit plans - net (40 ) 15 (5 ) 194 Benefit from (provision for) income taxes related to other comprehensive income (loss) items $ 167 $ (21 ) $ (144 ) $ 12 A summary of the reclassifications out of accumulated other comprehensive loss is provided as follows: Successor Predecessor Income Classification (In millions) For the Year Ended December 31, 2018 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 Derivative Instruments: $ (6 ) $ — $ (21 ) $ 18 (1) Tax expense (benefit) 1 — 8 (7 ) (2) After-tax $ (5 ) $ — $ (13 ) $ 11 Amortization of pension benefit plans: Prior service benefit — — (3 ) (6 ) (3),(4) Actuarial losses — — 506 822 (3),(4) Curtailment loss 7 — — 40 (3),(4) Settlement loss (2 ) — — 62 (3),(4) Total before tax $ 5 $ — $ 503 $ 918 Tax expense (benefit) — — (178 ) (324 ) (2) After-tax $ 5 $ — $ 325 $ 594 Amortization of other benefit plans: Prior service benefit — — (46 ) (134 ) (3),(4) Actuarial losses — — 61 78 (3),(4) Curtailment gain — — — (392 ) (3),(4) Total before tax $ — $ — $ 15 $ (448 ) Tax (benefit) expense — — (5 ) 150 (2) After-tax $ — $ — $ 10 $ (298 ) Net realized (losses) gains on investments, before tax: — — (1 ) 28 (4) Tax expense — — — — (2) After-tax $ — $ — $ (1 ) $ 28 Total reclassifications for the period, after-tax $ — $ — $ 321 $ 335 1. Cost of goods sold. 2. Provision for (benefit from) 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 18 for additional information. 4. Sundry income (expense) - net. The tax benefit recorded in Stockholders' Equity was $33 million for the year ended December 31, 2016. Included in the amount was a tax benefit of $21 million for the year ended December 31, 2016 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, 2018 | |
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 is included in the fair value measurement of Historical 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. Historical Dow and Historical DuPont did not merge their pension plans and OPEB 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 Historical 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, employees participating in the U.S. pension plans no longer 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 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 made a discretionary contribution of $1,100 million in the third quarter of 2018 to its principal U.S. pension plan. 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 15 for further discussion related to the May 2017 Debt Offering. The company contributed $230 million to the principal U.S. pension plan in 2016. The company does not expect to make cash contributions to this plan in 2019. The company made total contributions of $103 million , $34 million , $67 million and $121 million to its funded pension plans other than the principal U.S. pension plan for the year ended December 31, 2018, for periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016, respectively. Additionally, the company made total contributions of $105 million , $34 million , $57 million and $184 million to its remaining plans with no plan assets for the year ended December 31, 2018, for periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016, respectively. Historical DuPont expects to contribute approximately $190 million to its funded pension plans other than the principal U.S. pension plan and its remaining plans with no plan assets in 2019. 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 December 31, 2018 December 31, 2017 Discount rate 3.94 % 3.37 % Rate of increase in future compensation levels 1 2.90 % 4.04 % 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 December 31, 2018 rate is only applicable for non-U.S. pension plans since employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation as of November 30, 2018. 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 Year Ended December 31, 2018 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 Discount rate 3.38 % 3.42 % 3.80 % 3.77 % Rate of increase in future compensation levels 4.04 % 3.80 % 3.80 % 3.96 % Expected long-term rate of return on plan assets 6.19 % 6.24 % 7.66 % 7.74 % 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 Year Ended December 31, 2018 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 Discount rate 3.65 % 3.73 % 4.16 % 4.04 % Rate of increase in future compensation levels 4.25 % 3.95 % 3.95 % 4.15 % Expected long-term rate of return on plan assets 6.25 % 6.25 % 8.00 % 8.00 % 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 Historical DuPont's portion of the retiree medical cost coverage. For Medicare eligible pensioners and survivors, Historical 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-64. 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 OPEB 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 $216 million , $59 million , $166 million , and $218 million for the year ended December 31, 2018, for periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016, 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 2019, the company expects to contribute approximately $240 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 December 31, 2018 December 31, 2017 Discount rate 4.23 % 3.56 % 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 Year Ended December 31, 2018 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 Discount rate 3.56 % 3.62 % 4.03 % 3.87 % Assumed Health Care Cost Trend Rates December 31, 2018 December 31, 2017 Health care cost trend rate assumed for next year 7.50 % 6.40 % 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 2028 2023 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. Historical DuPont 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 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 the Aon 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, historically the company utilized prevailing long-term high quality corporate bond indices to determine the discount rate, applicable to each country, at the measurement date. For the 2018 measurement date, the company adopted Aon AA corporate bond rates to determine the discount rate, applicable to each country, at the 2018 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 adopts the most recent available mortality improvement scale from the SOA in measuring its U.S. pension and other postretirement benefit obligations. 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 Year Ended December 31, 2018 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, 2018 For the Period September 1 through December 31, 2017 1 For the Period January 1 through August 31, 2017 Change in benefit obligations: Benefit obligation at beginning of the period $ 25,550 $ 26,036 $ 24,831 $ 2,810 $ 2,772 $ 2,829 Service cost 131 49 92 9 3 6 Interest cost 752 247 524 85 26 60 Plan participants' contributions 10 6 8 38 12 26 Actuarial (gain) loss (1,078 ) (23 ) — (172 ) 68 — Benefits paid 2 (1,747 ) (730 ) (1,118 ) (254 ) (71 ) (192 ) Plan amendments 17 — — — — — Net effects of acquisitions / divestitures / other (12 ) 22 — — — — Effect of foreign exchange rates (209 ) (57 ) 429 (2 ) — 2 Benefit obligations at end of the period $ 23,414 $ 25,550 $ 24,766 $ 2,514 $ 2,810 $ 2,731 Change in plan assets: Fair value of plan assets at beginning of the period $ 20,284 $ 20,395 $ 16,656 $ — $ — $ — Actual return on plan assets (782 ) 549 846 — — — Employer contributions 1,308 68 3,024 216 59 166 Plan participants' contributions 10 6 8 38 12 26 Benefits paid 2 (1,747 ) (730 ) (1,118 ) (254 ) (71 ) (192 ) Net effects of acquisitions / divestitures / other (7 ) 29 — — — — Effect of foreign exchange rates (148 ) (33 ) 269 — — — Fair value of plan assets at end of the period $ 18,918 $ 20,284 $ 19,685 $ — $ — $ — Funded status U.S. plan with plan assets $ (2,890 ) $ (3,628 ) $ (3,277 ) $ — $ — $ — Non-U.S. plans with plan assets (488 ) (447 ) (609 ) — — — All other plans 3, 4 (1,118 ) (1,191 ) (1,187 ) (2,514 ) (2,810 ) (2,731 ) Plans of discontinued operations — — (8 ) — — — Funded status at end of the period $ (4,496 ) $ (5,266 ) $ (5,081 ) $ (2,514 ) $ (2,810 ) $ (2,731 ) 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 2017, about $140 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. 3. As of December 31, 2018, and December 31, 2017, $349 million and $389 million respectively 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) December 31, 2018 December 31, 2017 December 31, 2018 December 31, 2017 Amounts recognized in the Consolidated Balance Sheets: Other Assets $ 11 $ 47 $ — $ — Accrued and other current liabilities (95 ) (86 ) (243 ) (250 ) Pension and other post employment benefits - noncurrent (4,412 ) (5,227 ) (2,271 ) (2,560 ) Net amount recognized $ (4,496 ) $ (5,266 ) $ (2,514 ) $ (2,810 ) Pretax amounts recognized in accumulated other comprehensive loss (income): Net loss (gain) $ 737 $ (165 ) $ (104 ) $ 68 Prior service cost 17 — — — Pretax balance in accumulated other comprehensive loss (income) at end of year $ 754 $ (165 ) $ (104 ) $ 68 The significant gain related to the change in benefit obligations for the period ended December 31, 2018 is mainly due to the increasing interest rate environment. The weighted-average discount rates used in developing the December 31, 2018 benefit obligations are higher than the rates used in valuing the December 31, 2017 benefit obligations. The 2017 actuarial loss in the predecessor period was eliminated at Merger Effective Date. The accumulated benefit obligation for all pensions plans was $23.1 billion and $25.1 billion at December 31, 2018 and 2017, respectively. Pension Plans with Projected Benefit Obligations in Excess of Plan Assets December 31, 2018 December 31, 2017 (In millions) Projected benefit obligations $ 23,143 $ 25,254 Fair value of plan assets 18,636 19,941 Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets December 31, 2018 December 31, 2017 (In millions) Accumulated benefit obligations $ 22,185 $ 24,315 Fair value of plan assets 17,901 19,335 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 Year Ended December 31, 2018 For the Period For the Period For the Year Ended December 31, 2016 For the Year Ended December 31, 2018 For the Period For the Period For the Year Ended December 31, 2016 Net Periodic Benefit Cost: Service cost $ 131 $ 49 $ 92 $ 174 $ 9 $ 3 $ 6 $ 11 Interest cost 752 247 524 800 85 26 60 87 Expected return on plan assets (1,202 ) (407 ) (824 ) (1,320 ) — — — — Amortization of unrecognized loss 7 — 506 822 — — 61 78 Amortization of prior service benefit — — (3 ) (6 ) — — (46 ) (134 ) Curtailment (gain) loss (11 ) — — 40 — — — (392 ) Settlement loss 1 — — 62 — — — — Net periodic (credit) benefit cost - Total $ (322 ) $ (111 ) $ 295 $ 572 $ 94 $ 29 $ 81 $ (350 ) Less: Discontinued operations — 1 3 — — — — — Net periodic (credit) benefit cost - Continuing operations $ (322 ) $ (112 ) $ 292 $ 572 $ 94 $ 29 $ 81 $ (350 ) Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss: Net loss (gain) $ 906 $ (165 ) $ (22 ) $ 570 $ (172 ) $ 68 $ — $ 153 Amortization of unrecognized loss (7 ) — (506 ) (822 ) — — (61 ) (78 ) Prior service cost (benefit) 17 — — — — — — (28 ) Amortization of prior service benefit — — 3 6 — — 46 134 Curtailment (loss) gain — — — (40 ) — — — 392 Settlement gain (loss) 2 — — (62 ) — — — — Effect of foreign exchange rates 1 — 133 (138 ) — — — — Total loss (benefit) recognized in other comprehensive loss, attributable to Historical DuPont $ 919 $ (165 ) $ (392 ) $ (486 ) $ (172 ) $ 68 $ (15 ) $ 573 Total recognized in net periodic benefit cost and other comprehensive loss (income) $ 597 $ (276 ) $ (97 ) $ 86 $ (78 ) $ 97 $ 66 $ 223 In accordance with adopted ASU No. 2017-07, service costs are included in cost of goods sold, research and development expense and selling, general and administrative expenses in the Consolidated Statements of Operations. Non-service related components of net periodic benefit (credit) cost are included in sundry income (expense) - net in the Consolidated Statements of Operations. See Notes 1 , 2 and 8 for additional information. 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, 2018 Defined Benefit Pension Plans Other Post Employment Benefits (In millions) 2019 $ 1,648 $ 240 2020 1,613 235 2021 1,597 226 2022 1,574 219 2023 1,556 210 Years 2024-2028 7,437 861 Total $ 15,425 $ 1,991 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 Historical 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. Historical 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 Historical DuPont. The remaining assets are managed by professional investment firms unrelated to the company. Historical 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 December 31, 2018 December 31, 2017 Asset Category U.S. equity securities 19 % 17 % Non-U.S. equity securities 16 18 Fixed income securities 50 50 Hedge funds 2 2 Private market securities 8 8 Real estate 3 3 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 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, fund managers, or investment contract issuers 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, 2018 (In millions) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,824 $ 1,824 $ — $ — U.S. equity securities 1 3,537 3,521 2 14 Non-U.S. equity securities 2,582 2,565 15 2 Debt – government-issued 3,659 211 3,448 — Debt – corporate-issued 3,037 253 2,770 14 Debt – asset-backed 721 39 682 — Hedge funds 162 162 — — Private market securities 1 — — 1 Real estate 336 243 — 93 Derivatives – asset position 10 1 9 — Derivatives – liability position (18 ) — (18 ) — Other 206 — — 206 Subtotal $ 16,057 $ 8,819 $ 6,908 $ 330 Investments measured at net asset value Debt - government issued 208 Hedge funds 678 Private market securities 1,861 Real estate funds 112 Total investments measured at net asset value $ 2,859 Other items to reconcile to fair value of plan assets Pension trust receivables 2 210 Pension trust payables 3 (208 ) Total $ 18,918 1. The Historical DuPont pension plans directly held $684 million ( 4 percent of total plan assets) of DowDuPont common stock at December 31, 2018. 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, 2017 (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 Historical 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 The following table summarizes the changes in fair value of Level 3 pension plan assets for the periods January 1 through August 31, 2017 and September 1 through December 31, 2017, and the year ended December 31, 2018: 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 Other Total (In millions) Predecessor Balance at January 1, 2017 $ 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 Actual return on assets: Relating to assets sold during the year ended December 31, 2018 (1 ) (4 ) (80 ) — — — 2 — (83 ) Relating to assets held at December 31, 2018 (4 ) 3 87 — — (3 ) — (11 ) 72 Purchases, sales and settlements, net 3 — (15 ) — — — (3 ) 217 202 Transfers out of Level 3, net (1 ) — (5 ) (2 ) (2 ) (10 ) (2 ) — (22 ) Balance at December 31, 2018 $ 14 $ 2 $ 14 $ — $ — $ 1 $ 93 $ 206 $ 330 Trust Assets Historical DuPont entered into a trust agreement in 2013 (as amended and restated in 2017) that established and requires Historical DuPont to fund the Trust for cash obligations under certain non-qualified benefit and deferred compensation plans upon a change in control event as defined in the Trust agreement. Under the Trust agreement, the consummation of the Merger was a change in control event. As a result, in November 2017, Historical DuPont contributed $571 million to the Trust. In the fourth quarter of 2017, $13 million was distributed to Historical DuPont according to the Trust agreement and at December 31, 2017, the balance in the Trust was $558 million . During the year ended December 31, 2018, $68 million was distributed to Historical DuPont according to the Trust agreement and at December 31, 2018, the balance in the Trust was $500 million . Defined Contribution Plans Historical DuPont provides defined contribution benefits to its employees. The most significant is the U.S. Retirement Savings Plan ("the Plan"), which covers all U.S. full-service employees. This Plan includes a non-leveraged Employee Stock Ownership Plan ("ESOP"). Employees are not required to participate in the ESOP and those who do ar |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
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 Historical DuPont equity awards as of the Merger date were converted into equity awards with respect to DowDuPont Common Stock. The previous Historical 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 included $485 million as consideration exchanged and $144 million (included $23 million of incremental expense as a result of the conversion) that is being 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 Historical DuPont and Historical Dow. Historical DuPont and Historical 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, 2018, approximately 30 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 $156 million , $33 million , $85 million and $118 million for the year ended December 31, 2018, for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016, respectively. The income tax benefits related to stock-based compensation arrangements were $33 million , $12 million , $49 million and $39 million for the year ended December 31, 2018, for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016, 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 between 2016 and 2018 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 for the year ended December 31, 2018, the periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016 was $15.46 , $28.56 , $16.65 , and $13.40 , 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 Year Ended December 31, 2018 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 Dividend yield 2.1 % 2.2 % 2.0 % 2.6 % Expected volatility 23.3 % 23.59 % 23.21 % 28.27 % Risk-free interest rate 2.8 % 2.1 % 2.3 % 1.8 % Expected life of stock options granted during period (years) 6.2 7.2 7.2 7.2 In the Successor periods, 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 Historical 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 periods, the measurement of volatility used DowDuPont stock information after the Merger date, and a weighted average of Historical Dow and Historical DuPont stock information prior to Merger date. In the Predecessor periods, the measurement of volatility used Historical 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 the year ended December 31, 2018 under the EIP: Stock Options For the Year Ended December 31, 2018 Number of Shares (in thousands) Weighted Average Exercise Price (per share) Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2018 15,889 $ 48.43 Granted 3,251 71.85 Exercised (1,920 ) 44.49 Forfeited/Expired (141 ) 56.63 Outstanding at December 31, 2018 17,079 $ 53.26 4.77 $ 909,699 Exercisable at December 31, 2018 12,103 $ 48.14 3.17 $ 582,700 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 year ended December 31, 2018, for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016 were $50 million , $19 million , $108 million and $86 million , respectively. For the year ended December 31, 2018, the company realized tax benefits from options exercised of $10 million . As of December 31, 2018, $32 million of total unrecognized pre-tax compensation expense related to nonvested stock options is expected to be recognized over a weighted-average period of 1.8 years. Restricted Stock Units and Performance Deferred Stock The company issues nonvested 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 three 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 was based upon total shareholder return ("TSR") relative to peer companies. Vesting for PSUs granted in 2015 was 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 Historical 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 Historical 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 the 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. There were no PSUs granted for the year ended December 31, 2018. Nonvested awards of RSUs and PSUs are shown below. For the Year Ended December 31, 2018 Number of Shares (in thousands) Weighted Average Grant Date Fair Value (per share) Nonvested at January 1, 2018 4,198 $ 68.28 Granted 965 70.37 Vested (1,904 ) 67.49 Forfeited (112 ) 66.86 Nonvested at December 31, 2018 3,147 $ 68.18 The total fair value of stock units vested during for the year ended December 31, 2018, for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016 was $128 million , $9 million , $84 million and $83 million , respectively. The weighted-average grant-date fair value of stock units granted for the year ended December 31, 2018, for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016 was $70.37 , $70.02 , $76.41 , and $59.50 , respectively. As of December 31, 2018, $71 million of total unrecognized pre-tax compensation expense related to RSUs and PSUs is expected to be recognized over a weighted average period of 1.45 years. Other Cash-based Awards Other cash-based awards resulted in compensation expense of $241 million , $83 million , $264 million and $295 million for the year ended December 31, 2018, for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017, and the year ended December 31, 2016, 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, 2018, the company had $3,551 million ( $5,205 million at December 31, 2017) 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 $34 million ( $952 million at December 31, 2017) 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 year ended December 31, 2018 or for the periods September 1 through December 31, 2017 and 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 December 31, 2018 December 31, 2017 (In millions) Derivatives designated as hedging instruments: Commodity contracts $ 525 $ 587 Derivatives not designated as hedging instruments: Foreign currency contracts 2,057 3,922 Commodity contracts 9 6 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 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 Year Ended December 31, 2018 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 Beginning balance $ (2 ) $ — $ 7 $ (24 ) Additions and revaluations of derivatives designated as cash flow hedges (19 ) (2 ) 3 20 Clearance of hedge results to earnings (5 ) — (13 ) 11 Ending balance $ (26 ) $ (2 ) $ (3 ) $ 7 At December 31, 2018, an after-tax net loss of $9 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 The presentation of the company's derivative assets and liabilities is as follows: December 31, 2018 (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 $ 72 $ (35 ) $ 37 Total asset derivatives $ 72 $ (35 ) $ 37 Liability derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts Accrued and other current liabilities $ 21 $ (15 ) $ 6 Total liability derivatives $ 21 $ (15 ) $ 6 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 $20 million and $5 million as of December 31, 2018 and 2017, respectively. Effect of Derivative Instruments Amount of Gain (Loss) Recognized in OCI 1 - Pre Tax Successor Predecessor (In millions) Year Ended December 31, 2018 For the Period For the Period Year Ended December 31, 2016 Derivatives designated as hedging instruments: Cash flow hedges: Commodity contracts $ (24 ) $ 3 $ 5 $ 32 Total derivatives designated as hedging instruments $ (24 ) $ 3 $ 5 $ 32 Total derivatives $ (24 ) $ 3 $ 5 $ 32 1. OCI is defined as other comprehensive income (loss). Amount of Gain (Loss) Recognized in Income - Pre Tax 1 Successor Predecessor (In millions) Year Ended December 31, 2018 For the Period For the Period Year Ended December 31, 2016 Derivatives designated as hedging instruments: Cash flow hedges: Commodity contracts 2 $ 6 $ — $ 21 $ (18 ) Total derivatives designated as hedging instruments $ 6 $ — $ 21 $ (18 ) Derivatives not designated as hedging instruments: Foreign currency contracts 4 94 91 (431 ) (304 ) Foreign currency contracts 3 — — — (12 ) Commodity contracts 2 5 — 2 (11 ) Total derivatives not designated as hedging instruments 99 91 (429 ) (327 ) Total derivatives $ 105 $ 91 $ (408 ) $ (345 ) 1. For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period. 2. Recorded in cost of goods sold. 3. Recorded in net sales. 4. Gain recognized in sundry income (expense) - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 8 for additional information. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | FAIR VALUE MEASUREMENTS The following tables summarize the basis used to measure certain assets and liabilities at fair value on a recurring basis: December 31, 2018 Significant Other Observable Inputs (Level 2) (In millions) Assets at fair value: Cash equivalents and restricted cash equivalents 1 $ 3,551 Marketable securities 34 Derivatives relating to: 2 Foreign currency 72 Total assets at fair value $ 3,657 Liabilities at fair value: Long-term debt 3 $ 6,100 Derivatives relating to: 2 Foreign currency 21 Total liabilities at fair value $ 6,121 December 31, 2017 Significant Other Observable Inputs (Level 2) (In millions) Assets at fair value: Cash equivalents and restricted 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 20 for the classification of derivatives in the consolidated balance sheets. 3. See Note 15 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 20 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 year ended December 31, 2018 or for the periods September 1 through December 31, 2017 and January 1 through August 31, 2017. 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. Fair Value Measurements on a Nonrecurring Basis The following table summarizes the basis used to measure certain assets at fair value on a nonrecurring basis: Basis of Fair Value Measurements on a Nonrecurring Basis Significant Other Unobservable Inputs (Level 3) Total Losses (In millions) 2018 Assets at fair value: Investment in nonconsolidated affiliates $ 51 $ (41 ) Other intangible assets $ 450 $ (85 ) 2016 Assets at fair value: Property, plant and equipment $ — $ (435 ) Other intangible assets $ 28 $ (158 ) During the third quarter of 2018, the company recorded a goodwill impairment charge related to its agriculture reporting unit. See Notes 6 and 14 for further discussion of these fair value measurements. |
Geographic Information
Geographic Information | 12 Months Ended |
Dec. 31, 2018 | |
Geographical Reporting [Abstract] | |
Geographic Information [Text Block] | GEOGRAPHIC 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) Year Ended December 31, 2018 For the Period For the Period Year Ended December 31, 2016 United States $ 10,118 $ 2,086 $ 7,535 $ 9,500 Canada 767 139 583 669 EMEA 1 6,275 1,689 3,927 5,251 Asia Pacific 2 6,470 2,047 3,844 5,407 Latin America 2,649 1,092 1,392 2,382 Total $ 26,279 $ 7,053 $ 17,281 $ 23,209 1. Europe, Middle East, and Africa (EMEA). 2. Net sales for China in the period September 1 through December 31, 2017 were $818 million . Net sales for China were less than 10 percent of consolidated net sales in all other periods presented. Net Property Successor Predecessor (In millions) 2018 2017 2016 United States $ 7,591 $ 7,708 $ 5,951 Canada 163 170 124 EMEA 1 2,784 2,867 1,550 Asia Pacific 1,095 1,120 797 Latin America 553 570 429 Total $ 12,186 $ 12,435 $ 8,851 1. Europe, Middle East, and Africa (EMEA). Refer to Note 5 for net sales by principal product line. |
Quaterly Financial Data
Quaterly Financial Data | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | QUARTERLY FINANCIAL DATA 2018 - Successor In millions, except per share amounts (unaudited) First Second Third Fourth Net sales $ 6,699 $ 8,545 $ 5,294 $ 5,741 Cost of goods sold 1 4,847 5,669 3,686 3,980 Restructuring and asset related charges - net 2 97 91 182 115 Integration and separation costs 255 327 344 449 Goodwill impairment charge 3 — — 4,503 — (Loss) income from continuing operations after income taxes (216 ) 4 514 4 (4,960 ) 4,5 (351 ) 4,6 Net (loss) income (221 ) 7 514 (4,960 ) (351 ) Net (loss) income attributable to Historical DuPont (228 ) 513 (4,960 ) (354 ) 2017 Predecessor Successor In millions, except per share amounts (unaudited) First Second July 1 - Aug 31 Sept 1 - Sept 30 Fourth Net sales $ 7,319 $ 6,971 $ 2,991 $ 1,735 $ 5,318 Cost of goods sold 4,152 3,963 1,937 1,531 1 4,709 1 Restructuring and asset related charges - net 2 152 160 11 40 140 Integration and separation costs 8 71 243 Income (loss) from continuing operations after income taxes 1,178 9,10 722 (258 ) (275 ) 1,362 4 Net income (loss) 11 1,121 869 (229 ) (295 ) 1,305 Net income (loss) attributable to Historical DuPont 1,113 862 (234 ) (293 ) 1,303 Earnings (loss) per common share, continuing operations - basic 12 1.35 0.82 (0.30 ) Earnings (loss) per common share, continuing operations - diluted 12 1.34 0.82 (0.30 ) 1. Includes charges of $(360) million and $(1,109) million , $(703) million , $(682) million , $(109) million , and $(134) million during the period September 1 - September 30, 2017, fourth quarter 2017, first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business. See Note 3 for additional information. 2. See Note 6 for additional information. 3. See Note 14 for additional information. 4. Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to The Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. Includes tax (charges) benefits of $(102) million , $(7) million , $46 million , and $(167) million in the first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to The Act. See Note 9 for additional information. 5. Includes a tax charge of $(75) million in the third quarter 2018 related to the establishment of a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil. See Note 9 for additional information. 6. Includes a loss on early extinguishment of debt of $(81) million in the fourth quarter 2018 related to the retirement of some of the company's notes payable. See Note 15 for additional information. 7. Includes loss from discontinued operations after taxes related to the Divested Ag Business of $(5) million in the first quarter 2018. See Note 4 for additional information. 8. Integration and separation costs were $170 million , $201 million , and $210 million in the first quarter 2017, second quarter 2017, and the period July 1 - August 31, 2017, respectively. In the Predecessor periods, costs are recorded in selling, general and administrative expenses. See Note 3 for additional information. 9. First quarter 2017 included a gain of $162 million recorded in sundry income - net associated with the sale of the company's global food safety diagnostic business. See Note 4 for additional information. 10. First quarter 2017 included a tax benefit of $53 million , as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income (expense) - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. 11. Includes income (loss) from discontinued operations after taxes primarily related to the Divested Ag Business of $160 million , $137 million , $29 million , $(20) million , and $(57) million , in the first quarter 2017, second quarter 2017, the period July 1 - August 31, 2017, the period September 1 - September 30, 2017, and fourth quarter 2017, respectively. Additionally, includes income (loss) from discontinued operations after taxes primarily related to Chemours of $(217) million and $10 million , in the first quarter 2017 and second quarter 2017, respectively. See Note 4 for additional information. 12. Due to quarterly changes in the share count and the allocation of income to participating securities, the sum of the four quarters may not equal the earnings per share amount calculated for the year. |
Subsequent Events (Notes)
Subsequent Events (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | SUBSEQUENT EVENTS In February 2019, the company entered into a new committed receivable repurchase facility of up to $1,300 million (the "2019 Repurchase Facility") which expires in December 2019. Under the 2019 Repurchase Facility, Historical 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 2019 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 2019 Repurchase Facility will have an interest rate of LIBOR + 75 percent . |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Schedule II—Valuation and Qualifying Accounts (Dollars in millions) Successor Predecessor For the Year Ended December 31, 2018 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 Accounts Receivable—Allowance for Doubtful Receivables Balance at beginning of period $ 10 $ — $ 287 $ 225 Additions charged to expenses 91 10 51 119 Deductions from reserves 1 (16 ) — (33 ) (57 ) Balance at end of period $ 85 $ 10 $ 305 $ 287 Inventory—Obsolescence Reserve Balance at beginning of period $ 55 $ — $ 214 $ 237 Additions charged to expenses 406 89 241 275 Deductions from reserves 2 (283 ) (34 ) (181 ) (298 ) Balance at end of period $ 178 $ 55 $ 274 $ 214 Deferred Tax Assets—Valuation Allowance 3 Balance at beginning of period $ 1,140 $ 1,160 $ 1,145 $ 1,529 Additions charged to expenses 190 34 95 6 Deductions from reserves 4 (243 ) (54 ) (20 ) (390 ) Balance at end of period $ 1,087 $ 1,140 $ 1,220 $ 1,145 1. Deductions include write-offs, recoveries and currency translation adjustments. 2. Deductions include disposals and currency translation adjustments. 3. The company has corrected its valuation allowance (with a corresponding reduction in tax loss and credit carryforwards) in the amount of $238 million , $163 million , and $163 million for the period September 1 through December 31, 2017, the period January 1 through August 31, 2017, and the year ended December 31, 2016, respectively, as a result of a change in the Delaware state apportionment methodology. 4. Deductions include currency translation adjustments. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
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 (“Historical 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. |
Pushdown Accounting | DowDuPont Inc. ("DowDuPont") was formed on December 9, 2015 to effect an all-stock, merger of equals strategic combination between The Dow Chemical Company ("Historical Dow") and Historical 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"), Historical Dow and Historical DuPont each merged with wholly owned subsidiaries of DowDuPont ("Mergers") and, as a result of the Mergers, Historical Dow and Historical 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 certain customary conditions, including, among others, the effectiveness of registration statements filed with the U.S. Securities and Exchange Commission ("SEC") and 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" and the transactions to accomplish the Intended Business Separations, the "separations"). On February 26, 2018, DowDuPont announced the corporate brand names that each company plans to assume once the Intended Business Separations occur. Materials science will be called Dow, agriculture will be called Corteva TM Agriscience, and specialty products will be called DuPont. For purposes of DowDuPont's financial statement presentation, Historical Dow was determined to be the accounting acquirer in the Merger and Historical 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, Historical DuPont has elected to apply push-down accounting and reflect in its financial statements the fair value of its assets and liabilities. Historical 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 Historical DuPont. All periods prior to the closing of the Merger reflect the historical accounting basis in Historical 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, Historical DuPont, Historical 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 7 . |
Discontinued Operations, Policy | 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 Historical 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 Historical 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 comprehensive income and cash flows related to the Divested Ag Business have not been segregated and are included in the Consolidated Statements of Comprehensive (Loss) 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. |
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 the ability to exercise significant influence but does not have 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, 2018 and 2017 , 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. |
Changes in Accounting and Reporting | Changes in Accounting and Reporting Within the Successor periods, Historical DuPont made the following changes in accounting and reporting to harmonize its accounting and reporting with DowDuPont. Within the Successor periods of the Consolidated Statements of Operations: • Included royalty income within net sales. In the Predecessor periods, royalty income is included within sundry income (expense) - net. • Eliminated the other operating charges line item. In the Successor periods, 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 periods. • 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 periods, interest accrued related to unrecognized tax benefits is included within sundry income (expense) - net. Within the Successor periods 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 periods, Historical DuPont reflected non-qualified hedge programs, specifically forward contracts, options and cash collateral activity, within cash flows from investing activities. In the Predecessor periods, Historical 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 periods, 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. Certain reclassifications of prior year's data have been made to conform to current year's presentation. Effective January 1, 2018, the company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2017-07, Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. In conjunction with the adoption of this ASU, the company retrospectively reclassified the non-service components of net periodic benefit cost in the Consolidated Statements of Operations. Effective January 1, 2018, the company adopted FASB ASU No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (a consensus of the FASB Emerging Issues Task Force). In conjunction with the adoption of this ASU, the company retrospectively adjusted the Consolidated Statement of Cash Flows to include the presentation of restricted cash. See Note 2 for more information. |
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 $500 million and $558 million as of December 31, 2018 and 2017, respectively, and is included within other current assets on the Consolidated Balance Sheets. See Note 8 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, 2018 approximately 50 percent , 35 percent , and 15 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, 2017 approximately 60 percent , 30 percent , and 10 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 fair value of property, plant and equipment was 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 performs an annual goodwill impairment test in the fourth 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 determined fair values for each of the reporting units using the income approach. Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. See Note 14 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 (loss) gain is reported in accumulated other comprehensive loss until it is cleared to earnings during the same period in which the hedged item affects 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, the net gain or loss in AOCI generally remains in AOCI until the item that was hedged affects earnings. 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 periods, the company reflected non-qualified hedge programs, specifically forward contracts, options and cash collateral activity, within cash flows from investing activities. In the Predecessor periods, 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 periods, the company included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. See Note 20 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 its customer obtains control of promised goods or services, in an amount that reflects the consideration which the company expects to receive in exchange for those goods or services. To determine revenue recognition for the arrangements that the company determines are within the scope of FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), the company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 5 for additional information on revenue recognition. |
Royalty Expense | Prepaid Royalties 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. At December 31, 2018, the balance of prepaid royalties reflected in other current assets and other assets was $239 million and $1,139 million , respectively. 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 9 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. 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 periods. In the Predecessor period, interest accrued related to unrecognized tax benefits is included within sundry income (expense) - net in the Consolidated Statements of Operations. |
Segment Reporting | Segments Effective with the Merger, Historical DuPont’s business activities are components of its parent company’s business operations. Historical 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 Historical DuPont relates to the company in its entirety. Accordingly, there are no separate reportable business segments for Historical DuPont under Accounting Standards Codification ("ASC") Topic 280 “Segment Reporting” and Historical 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, 2018 | |
Accounting Policies [Abstract] | |
Recent Accounting Guidance | RECENT ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance 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 resulted in additional disclosure requirements to describe the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The standard permits the use of either the retrospective or modified retrospective (cumulative-effect) transition method of adoption. The company adopted this standard in the first quarter of 2018 and applied the modified retrospective transition method to contracts not completed at the date of initial application. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with historic accounting under Topic 605 (Revenue Recognition). The company recognized the cumulative effect of applying the new revenue standard as an adjustment to the opening balance of retained earnings in the beginning of 2018. See Note 5 for additional disclosures regarding the company's contracts with customers. In accordance with Topic 606, the disclosure of the impact of adoption to the company's Consolidated Balance Sheet was as follows: (In millions, except per share amounts) As Reported December 31, 2017 Effect of Adoption of ASU 2014-09 Updated January 1, 2018 Current assets Accounts and notes receivable - net $ 5,239 $ 79 $ 5,318 Inventories 8,633 (53 ) 8,580 Other current assets 981 101 1,082 Deferred income taxes $ 480 $ 1 $ 481 Liabilities and Equity Current liabilities Accounts payable $ 4,831 $ (3 ) $ 4,828 Accrued and other current liabilities 4,384 120 4,504 Deferred income tax liabilities $ 5,836 $ 3 $ 5,839 Retained earnings $ 175 $ 8 $ 183 The most significant changes as a result of adopting ASU No. 2014-09 relate to the reclassification of the company's return assets and refund liabilities in the agriculture product line on the Consolidated Balance Sheets. Under previous guidance, the company accrued the amount of expected product returns as a reduction of net sales and a reduction of accounts and notes receivable - net, and the value associated with the products expected to be recovered in inventory along with a corresponding reduction in cost of goods sold. Under Topic 606, the company now separately presents the amount of expected product returns as refund liabilities, included in accrued and other current liabilities, and the products expected to be recovered as return assets, included in other current assets in the consolidated balance sheets. The reclassification of return assets and refund liabilities was $61 million and $119 million , respectively, at January 1, 2018. The effect on the Consolidated Statement of Cash Flows was not material. The following table summarizes the effects of adopting the new accounting standard related to revenue recognition on the company's Consolidated Balance Sheet: December 31, 2018 (In millions, except per share amounts) As Reported Effect of Change Balance without Adoption of Topic 606 Current assets Accounts and notes receivable - net $ 5,534 $ (40 ) $ 5,494 Inventories 7,407 32 7,439 Other current assets 1,165 (80 ) 1,085 Deferred income taxes $ 303 $ (1 ) $ 302 Liabilities and Equity Current liabilities Accrued and other current liabilities $ 4,233 $ (80 ) $ 4,153 Deferred income tax liabilities $ 5,381 $ (3 ) $ 5,378 Accumulated deficit $ (7,669 ) $ (6 ) $ (7,675 ) In accordance with Topic 606, the impact of adoption to the company’s Consolidated Statements of Operations primarily related to the accounting for interest income from its customer financing arrangements in the agriculture product line. Under previous guidance, the company recorded the interest income from these arrangements over the financing period within sundry income (expense) - net. Under Topic 606, the company elected the practical expedient and does not adjust the promised amount of consideration for the effects of a significant financing component for contracts where payment terms are one year or less. Generally, the entire arrangement consideration is recorded in net sales upon satisfaction of the performance obligation. Performance obligations for these arrangements are generally satisfied during the first half of the fiscal year, consistent with the North America growing season. The following tables summarize the effects of adopting the new accounting standard related to revenue recognition on the company's Consolidated Statement of Operations for the year ended December 31, 2018 : For the Year Ended December 31, 2018 (In millions, except per share amounts) As Reported Effect of Change Balance without Adoption of Topic 606 Net sales $ 26,279 $ (69 ) $ 26,210 Sundry income (expense) - net $ 543 $ 71 $ 614 Loss from continuing operations before income taxes $ (4,793 ) $ 2 $ (4,791 ) Provision for income taxes on continuing operations $ 220 $ — $ 220 Loss from continuing operations after income taxes $ (5,013 ) $ 2 $ (5,011 ) 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 adopted this standard on January 1, 2018 and there was no material impact. 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 adopted this standard on January 1, 2018 and there was no adjustment to retained earnings. In November 2016, the FASB issued ASU No. 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 company adopted this standard on January 1, 2018. See the Consolidated Statement of Cash Flows for the new presentation of restricted cash as well as Note 8 for a reconciliation of cash, cash equivalents and restricted cash (included in other current assets) presented on the Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash presented in the Consolidated Statements of Cash Flows. The following table summarizes the effects of adopting the new accounting standard related to restricted cash on the company's Consolidated Statement of Cash Flows: For the Period September 1 through December 31, 2017 (In millions) As Reported Effect of Change Updated Investing Activities Payment into trust account $ (571 ) $ 571 $ — Distribution from trust account $ 13 $ (13 ) $ — Cash provided by investing activities $ 2,210 $ 558 $ 2,768 Increase in cash, cash equivalents and restricted cash $ 3,245 $ 558 $ 3,803 Cash, cash equivalents and restricted cash at end of period $ 7,250 $ 558 $ 7,808 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 which was applied prospectively to all applicable transactions after the adoption date. 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 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 adopted this guidance on January 1, 2018, and recorded the other components of net periodic benefit cost in sundry income (expense) - net. The following tables summarize the reclassification of those costs from cost of goods sold, research and development expense, and selling, general and administrative expenses to sundry income (expense) - net in the Consolidated Statements of Operations: Summary of Changes to the Consolidated Statement of Operations For the Period September 1 - December 31, 2017 (Successor) (in millions) As Reported Effect of Change Updated Cost of goods sold $ 6,165 $ 75 $ 6,240 Research and development expense $ 473 $ 19 $ 492 Selling, general and administrative expenses $ 1,101 $ 40 $ 1,141 Sundry income (expense) - net $ 90 $ 134 $ 224 Summary of Changes to the Consolidated Statement of Operations For the Period January 1 - August 31, 2017 (Predecessor) (in millions) As Reported Effect of Change Updated Cost of goods sold $ 10,205 $ (153 ) $ 10,052 Research and development expense $ 1,064 $ (42 ) $ 1,022 Selling, general and administrative expenses $ 3,306 $ (84 ) $ 3,222 Sundry income (expense) - net $ 166 $ (279 ) $ (113 ) Summary of Changes to the Consolidated Statement of Operations For the Period January 1 - December 31, 2016 (Predecessor) (in millions) As Reported Effect of Change Updated Cost of goods sold $ 13,955 $ (18 ) $ 13,937 Research and development expense $ 1,502 $ (6 ) $ 1,496 Selling, general and administrative expenses $ 4,143 $ (16 ) $ 4,127 Sundry income (expense) - net $ 707 $ (40 ) $ 667 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 early adopted the new guidance in the second quarter of 2018, and adoption did not have a material impact on the Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20), Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. This amendment modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing and adding certain disclosures for these plans. The eliminated disclosures include the amounts in accumulated other comprehensive income expected to be recognized in net periodic benefit costs over the next fiscal year and the effects of a one-percentage-point change in assumed health care cost trend rates on the net periodic benefit costs and the benefit obligation for postretirement health care benefits. New disclosures include the interest crediting rates for cash balance plans, and an explanation of significant gains and losses related to changes in benefit obligations. The new standard is effective for fiscal years beginning after December 15, 2020, and must be applied retrospectively for all periods presented. Early adoption is permitted. The company early adopted the new guidance in the fourth quarter of 2018, and adoption did not have a material impact on the Consolidated Financial Statements. Accounting Guidance Issued But Not Adopted as of December 31, 2018 In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), and associated ASUs related to Topic 842, which requires organizations that lease assets to recognize on their balance sheet the assets and liabilities for the rights and obligations created by those leases. The new guidance requires that a lessee recognize assets and liabilities for leases, and recognition, presentation and measurement in the financial statements will depend on its classification as a finance or operating lease. In addition, the new guidance requires disclosures to help investors and other financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. Lessor accounting remains largely unchanged from current U.S. GAAP but does contain some targeted improvements to align with the new revenue recognition guidance issued in 2014 (Topic 606). The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, and early adoption is permitted. The company has a cross-functional team in place to evaluate and implement the new guidance and the company has substantially completed the implementation of a third-party software solution to facilitate compliance with accounting and reporting requirements. The team continues to review existing lease arrangements and update business processes and controls related to the new guidance for leases. Collectively, these activities are expected to facilitate the company's ability to meet the new accounting and disclosure requirements upon adoption in the first quarter of 2019. This ASU allows for a modified retrospective transition approach, applying the new standard to all leases existing at the date of initial adoption. An entity may choose to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the financial statement as its date of initial application. The company has elected to apply the transition requirements at the January 1, 2019 effective date rather than at the beginning of the earliest comparative period presented. This approach allows for a cumulative effect adjustment in the period of adoption, and prior periods will not be restated. In addition, the company has elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, does not require reassessment of prior conclusions related to contracts containing a lease, lease classification, and initial direct lease costs. As an accounting policy election, the company will exclude short-term leases (term of 12 months or less) from the balance sheet and will account for nonlease and lease components in a contract as a single component for most asset classes. The company is finalizing the evaluation of the January 1, 2019 impact and estimates a material increase in lease-related assets and liabilities, ranging between $600 million and $800 million in the Consolidated Balance Sheet. The impact to the company's Consolidated Statement of Operations and Consolidated Statement of Cash Flows is expected to not be material. |
Recent Accounting Guidance Acco
Recent Accounting Guidance Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Standards Update 2016-18 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | For the Period September 1 through December 31, 2017 (In millions) As Reported Effect of Change Updated Investing Activities Payment into trust account $ (571 ) $ 571 $ — Distribution from trust account $ 13 $ (13 ) $ — Cash provided by investing activities $ 2,210 $ 558 $ 2,768 Increase in cash, cash equivalents and restricted cash $ 3,245 $ 558 $ 3,803 Cash, cash equivalents and restricted cash at end of period $ 7,250 $ 558 $ 7,808 |
Accounting Standards Update 2017-07 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Summary of Changes to the Consolidated Statement of Operations For the Period September 1 - December 31, 2017 (Successor) (in millions) As Reported Effect of Change Updated Cost of goods sold $ 6,165 $ 75 $ 6,240 Research and development expense $ 473 $ 19 $ 492 Selling, general and administrative expenses $ 1,101 $ 40 $ 1,141 Sundry income (expense) - net $ 90 $ 134 $ 224 Summary of Changes to the Consolidated Statement of Operations For the Period January 1 - August 31, 2017 (Predecessor) (in millions) As Reported Effect of Change Updated Cost of goods sold $ 10,205 $ (153 ) $ 10,052 Research and development expense $ 1,064 $ (42 ) $ 1,022 Selling, general and administrative expenses $ 3,306 $ (84 ) $ 3,222 Sundry income (expense) - net $ 166 $ (279 ) $ (113 ) Summary of Changes to the Consolidated Statement of Operations For the Period January 1 - December 31, 2016 (Predecessor) (in millions) As Reported Effect of Change Updated Cost of goods sold $ 13,955 $ (18 ) $ 13,937 Research and development expense $ 1,502 $ (6 ) $ 1,496 Selling, general and administrative expenses $ 4,143 $ (16 ) $ 4,127 Sundry income (expense) - net $ 707 $ (40 ) $ 667 |
Income Statement [Member] | Current Period Adjustment [Member] | Accounting Standards Update 2014-09 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | For the Year Ended December 31, 2018 (In millions, except per share amounts) As Reported Effect of Change Balance without Adoption of Topic 606 Net sales $ 26,279 $ (69 ) $ 26,210 Sundry income (expense) - net $ 543 $ 71 $ 614 Loss from continuing operations before income taxes $ (4,793 ) $ 2 $ (4,791 ) Provision for income taxes on continuing operations $ 220 $ — $ 220 Loss from continuing operations after income taxes $ (5,013 ) $ 2 $ (5,011 ) |
Balance Sheet [Member] | Opening Balance Adjustment [Member] | Accounting Standards Update 2014-09 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | (In millions, except per share amounts) As Reported December 31, 2017 Effect of Adoption of ASU 2014-09 Updated January 1, 2018 Current assets Accounts and notes receivable - net $ 5,239 $ 79 $ 5,318 Inventories 8,633 (53 ) 8,580 Other current assets 981 101 1,082 Deferred income taxes $ 480 $ 1 $ 481 Liabilities and Equity Current liabilities Accounts payable $ 4,831 $ (3 ) $ 4,828 Accrued and other current liabilities 4,384 120 4,504 Deferred income tax liabilities $ 5,836 $ 3 $ 5,839 Retained earnings $ 175 $ 8 $ 183 December 31, 2018 (In millions, except per share amounts) As Reported Effect of Change Balance without Adoption of Topic 606 Current assets Accounts and notes receivable - net $ 5,534 $ (40 ) $ 5,494 Inventories 7,407 32 7,439 Other current assets 1,165 (80 ) 1,085 Deferred income taxes $ 303 $ (1 ) $ 302 Liabilities and Equity Current liabilities Accrued and other current liabilities $ 4,233 $ (80 ) $ 4,153 Deferred income tax liabilities $ 5,381 $ (3 ) $ 5,378 Accumulated deficit $ (7,669 ) $ (6 ) $ (7,675 ) |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Merger with Dow [Member] | ||
Business Acquisition [Line Items] | ||
Schedule of Integration and Separation Costs | Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 Integration and separation costs $ 1,375 $ 314 Selling, general and administrative expenses $ 581 $ 386 | |
Schedule of Business Acquisitions, by Acquisition | (In millions, except exchange ratio) Historical DuPont Common Stock outstanding as of the Merger Effectiveness Time 868.3 Historical DuPont exchange ratio 1.2820 DowDuPont Common Stock issued in exchange for Historical 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 Historical DuPont equity awards 2 485 Total consideration $ 74,680 1. Amount was determined based on the price per share of Historical Dow Common Stock of $66.65 on August 31, 2017. 2. Represents the fair value of replacement awards issued for Historical DuPont's equity awards outstanding immediately before the Merger and attributable to the service periods prior to the Merger. The previous Historical DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock. | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Final fair value (In millions) Fair Value of Assets as of the Merger Effectiveness Time Cash and cash equivalents $ 4,005 Marketable securities 2,849 Accounts and notes receivable 7,834 Inventories 8,805 Other current assets 420 Investment in nonconsolidated affiliates 1,596 Assets held for sale - current 3,732 Property, plant and equipment 11,684 Goodwill 45,497 Other intangible assets 27,071 Deferred income tax assets 279 Other assets 2,066 Total Assets $ 115,838 Fair Value of Liabilities Short-term borrowings and capital lease obligations $ 5,319 Accounts payable 3,298 Income taxes payable 261 Accrued and other current liabilities 3,517 Liabilities held for sale - current 125 Long-term debt 9,878 Deferred income tax liabilities 8,259 Pension and other post employment benefits - noncurrent 8,056 Other noncurrent obligations 1,967 Total Liabilities $ 40,680 Noncontrolling interests 239 Preferred stock 239 Fair Value of Net Assets (Consideration for the Merger) $ 74,680 | |
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 Historical DuPont of approximately $1,200 million , which reflected 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, Historical DuPont entered into favorable supply contracts with FMC. Historical DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 4 and 14 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 304 Property, plant and equipment 489 Goodwill 732 Other intangible assets 435 Other current and non-current assets 14 Total Assets $ 2,134 Fair Value of Liabilities Accounts payable and other accrued liabilities $ 72 Deferred income tax liabilities 92 Total Liabilities $ 164 Fair Value of Net Assets (Consideration for the H&N Business) $ 1,970 | |
Schedule of Results of Operations | (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 Transa_2
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 Net sales $ 199 $ 1,068 $ 1,385 Cost of goods sold 194 412 514 Other operating charges 17 19 Research and development expenses 30 95 139 Selling, general and administrative expenses 2 102 146 176 Restructuring and asset related charges - net (1 ) — (4 ) Sundry (expense) income - net (1 ) 7 1 (Loss) Income from discontinued operations before income taxes (127 ) 405 542 (Benefit from) Provision for income taxes (50 ) 79 103 (Loss) Income from discontinued operations after income taxes $ (77 ) $ 326 $ 439 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 Other operating charges $ 335 $ 36 Sundry income (expense) - net 3 3 Loss from discontinued operations before income taxes (332 ) (33 ) Benefits from income taxes (125 ) (28 ) Loss from discontinued operations after income taxes $ (207 ) $ (5 ) |
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 Depreciation $ — $ 21 $ 32 Capital expenditures $ 5 $ 8 $ 40 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Contract Balances [Table Text Block] | Contract Balances December 31, 2018 Topic 606 Adjustments January 1, 2018 December 31, 2017 (In millions) Accounts and notes receivable - trade 1 $ 4,130 $ 87 $ 3,976 Contract assets - current 2 $ 48 $ 40 $ — Deferred revenue - current 3 $ 1,927 $ 2 $ 2,014 Deferred revenue - noncurrent 4 $ 30 $ — $ 48 1. Included in accounts and notes receivable - net in the Consolidated Balance Sheets. 2. Included in other current assets in the Consolidated Balance Sheets. 3. Included in accrued and other current liabilities in the Consolidated Balance Sheets. 4. Included in other noncurrent obligations in the Consolidated Balance Sheets. |
Disaggregation of Revenue [Table Text Block] | Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 Agriculture $ 8,995 $ 1,596 $ 6,894 $ 8,131 Packaging and Specialty Plastics 1,579 544 1,072 1,651 Electronics and Imaging 2,097 743 1,422 1,960 Nutrition and Health 4,054 1,165 2,129 3,268 Industrial Biosciences 1,653 573 1,022 1,500 Transportation and Advanced Polymers 4,418 1,355 2,608 3,599 Safety and Construction 3,473 1,074 2,134 3,099 Other 10 3 — 1 Total $ 26,279 $ 7,053 $ 17,281 $ 23,209 |
Restructuring and Asset Relat_2
Restructuring and Asset Related Charges (Tables) - DowDuPont Cost Synergy Program [Member] | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Costs [Table Text Block] | (In millions) For the Year Ended December 31, 2018 For the Period September 1 through December 31, 2017 Severance and related benefit costs $ 219 $ 153 Contract termination charges 40 31 Asset related charges 63 3 Total restructuring and asset related charges - net 1 $ 322 $ 187 1. The charge for the year ended December 31, 2018 , includes $318 million which was recognized in restructuring and asset related charges - net and $4 million which was recognized in sundry income (expense) - net in the company's Consolidated Statement of Operations. |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | (In millions) Severance and Related Benefit Costs Contract Termination Charges Asset Related Charges Total Balance at December 31, 2017 $ 133 $ 28 $ — $ 161 Charges to (loss) income from continuing operations for the year ended December 31, 2018 219 40 63 322 Payments (118 ) (50 ) — (168 ) Asset write-offs — — (63 ) (63 ) Net translation adjustment (5 ) — — (5 ) Balance as of December 31, 2018 $ 229 $ 18 $ — $ 247 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transaction [Line Items] | |
Schedule of Related Party Transactions [Table Text Block] | (In millions) For the Year Ended December 31, 2018 For the Period September 1 through December 31, 2017 Net sales $ 261 $ 20 Cost of goods sold $ 224 $ 20 (In millions) December 31, 2018 December 31, 2017 Accounts and notes receivable - net $ 201 $ 12 Accounts payable $ 288 $ 26 |
Supplementary Information (Tabl
Supplementary Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Other Nonoperating Income (Expense) | Sundry Income (Expense) - Net Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 Royalty income 1 $ 84 $ 170 Interest income $ 92 $ 41 83 102 Equity in earnings of affiliates - net 51 1 55 99 Net gain on sales of businesses and other assets 2,3 26 16 205 435 Net exchange (losses) gains (110 ) 8 (394 ) (106 ) Non-operating pension and other post employment benefit credit (cost) 4 368 134 (278 ) (40 ) Miscellaneous income and expenses - net 5 116 24 132 7 Sundry income (expense) - net $ 543 $ 224 $ (113 ) $ 667 1. In the Successor periods, royalty income of $170 million and $60 million is included in Net Sales for the year ended December 31, 2018 and the period September 1, 2017 through December 31, 2017, respectively. 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 Historical DuPont (Shenzhen) Manufacturing Limited. See Note 4 for additional information. 4. Includes non-service components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized (gain) loss, amortization of prior service benefit and curtailment/settlement gain). See Note 2 for discussion of ASU No. 2017-07. 5. Miscellaneous income and expenses - net, includes interest items (in the Predecessor periods 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 Year Ended December 31, 2018 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 Subsidiary Monetary Position (Loss) Gain Pre-tax exchange (loss) gain 1 $ (204 ) $ (83 ) $ 37 $ 198 Local tax benefits (expenses) 19 (3 ) 217 (126 ) Net after-tax impact from subsidiary exchange (loss) gain $ (185 ) $ (86 ) $ 254 $ 72 Hedging Program Gain (Loss) Pre-tax exchange gain (loss) 2 $ 94 $ 91 $ (431 ) $ (304 ) Tax (expenses) benefits (21 ) (33 ) 155 110 Net after-tax impact from hedging program exchange gain (loss) $ 73 $ 58 $ (276 ) $ (194 ) Total Exchange (Loss) Gain Pre-tax exchange (loss) gain $ (110 ) $ 8 $ (394 ) $ (106 ) Tax (expenses) benefits (2 ) (36 ) 372 (16 ) Net after-tax exchange (loss) gain $ (112 ) $ (28 ) $ (22 ) $ (122 ) 1. Includes a net $75 million pre-tax exchange loss associated with the devaluation of the Argentine peso for the twelve months ended December 31, 2018. 2. Includes a $50 million foreign exchange loss for the twelve months ended December 31, 2018 related to adjustments to foreign currency exchange contracts as a result of U.S. tax reform. |
Restrictions on Cash and Cash Equivalents | (In millions) December 31, 2018 December 31, 2017 Cash and cash equivalents $ 4,466 $ 7,250 Restricted cash 500 558 Total cash, cash equivalents and restricted cash $ 4,966 $ 7,808 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Geographic Allocation of Income and Provision for Income Taxes | Geographic Allocation of (Loss) Income and Provision for (Benefit from) Income Taxes Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 (Loss) Income from continuing operations before income taxes Domestic $ (4,496 ) $ (811 ) $ 409 $ 1,415 Foreign (297 ) (775 ) 1,382 1,308 (Loss) Income from continuing operations before income taxes $ (4,793 ) $ (1,586 ) $ 1,791 $ 2,723 Current tax expense (benefit) Federal $ (333 ) $ 216 $ (563 ) $ 4 State and local 5 22 (11 ) 9 Foreign 453 187 282 539 Total current tax expense (benefit) $ 125 $ 425 $ (292 ) $ 552 Deferred tax expense (benefit) Federal $ 162 $ (2,790 ) $ 476 $ 22 State and local (29 ) (48 ) (8 ) (29 ) Foreign (38 ) (260 ) (27 ) 96 Total deferred tax expense (benefit) $ 95 $ (3,098 ) $ 441 $ 89 Provision for (Benefit from) income taxes on continuing operations 220 (2,673 ) 149 641 Net (loss) income from continuing operations $ (5,013 ) $ 1,087 $ 1,642 $ 2,082 |
Reconciliation to US Statutory Rate | Reconciliation to U.S. Statutory Rate Successor Predecessor For the Year Ended December 31, 2018 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 Statutory U.S. federal income tax rate 21.0 % 35.0 % 35.0 % 35.0 % Equity earning effect 0.2 0.9 (0.5 ) (0.8 ) Effective tax rates on international operations - net 0.5 (9.5 ) (11.4 ) (9.2 ) Acquisitions, divestitures and ownership restructuring activities 1, 2, 3 (1.6 ) 15.8 5.2 1.9 U.S. research and development credit 0.6 0.4 (0.8 ) (0.7 ) Exchange gains/losses 4 (0.5 ) (1.8 ) (12.9 ) 1.9 SAB 118 Impact of Enactment of U.S. Tax Reform 5 (2.5 ) 126.1 Excess tax benefits from stock compensation 6 0.1 0.1 (1.7 ) Tax settlements and expiration of statute of limitations 7 0.2 — (3.8 ) (1.1 ) Goodwill impairment 8 (21.4 ) — — — Other - net (1.2 ) 1.5 (0.8 ) (3.5 ) Effective tax rate (4.6 )% 168.5 % 8.3 % 23.5 % 1. See Notes 3 and 4 for additional information. 2. Includes a net tax charge of $74 million related to repatriation activities to facilitate the Intended Business Separations for the year ended December 31, 2018. 3. Includes a net tax charge of $25 million and a net tax benefit of $261 million for the year ended December 31, 2018 and the period September 1 through December 31, 2017, respectively, related to an internal legal entity restructuring associated with the Intended Business Separations. 4. 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 8 and Note 20 under the heading Foreign Currency Risk. 5. Reflects a net tax charge of $121 million associated with the company's completion of the accounting for the tax effects of The Act for the year ended December 31, 2018. 6. Reflects the impact of the adoption of ASU 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting, which was adopted January 1, 2017 and resulted in the recognition of excess tax benefits related to equity compensation in the (benefit from) provision for income taxes on continuing operations. 7. The period January 1 through August 31, 2017 includes a tax benefit of $53 million for accrued interest reversals (recorded in sundry income (expense) - net). 8. Reflects the impact of the non-tax-deductible impairment charge for the agriculture reporting unit and corresponding $75 million tax charge associated with a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil for the year ended December 31, 2018. |
Deferred Tax Balances | Deferred Tax Balances at December 31 2018 2017 (In millions) Assets Liabilities Assets Liabilities Property $ — $ 1,043 $ — $ 1,160 Tax loss and credit carryforwards 1 1,390 — 1,452 — Accrued employee benefits 1,802 169 1,988 68 Other accruals and reserves 323 51 333 39 Intangibles 320 5,876 284 6,286 Inventory 129 371 130 597 Long-term debt 24 — 109 — Investments 114 581 23 453 Unrealized exchange gains/losses — 141 — 71 Other – net 280 141 260 121 Subtotal $ 4,382 $ 8,373 $ 4,579 $ 8,795 Valuation allowances 1,2,3 (1,087 ) — (1,140 ) — Total $ 3,295 $ 8,373 $ 3,439 $ 8,795 Net Deferred Tax Liability $ (5,078 ) $ (5,356 ) 1. Primarily related to the realization of recorded tax benefits on tax loss carryforwards from operations in the United States, Brazil, and Luxembourg. 2. The company has corrected its valuation allowance (with a corresponding reduction in tax loss and credit carryforwards) in the amount of $238 million as a result of a change in the Delaware state apportionment methodology. 3. During the year ended December 31, 2018 , the company established a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil due to revised financial projections, resulting in tax expense of $75 million . See Note 14 for additional information. |
Operating Loss and Tax Credit Carryforwards | Operating Loss and Tax Credit Carryforwards Deferred Tax Asset (In millions) 2018 2017 Operating loss carryforwards Expire within 5 years $ 76 $ 42 Expire after 5 years or indefinite expiration 1,137 1,245 Total operating loss carryforwards $ 1,213 $ 1,287 Tax credit carryforwards Expire within 5 years $ 8 $ 10 Expire after 5 years or indefinite expiration 169 155 Total tax credit carryforwards $ 177 $ 165 Total Operating Loss and Tax Credit Carryforwards $ 1,390 $ 1,452 |
Total Gross Unrecognized Tax Benefits | Total Gross Unrecognized Tax Benefits 1 Successor Predecessor For the Year Ended December 31, 2018 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 (In millions) Total unrecognized tax benefits as of beginning of period $ 741 $ 709 $ 596 $ 906 Decreases related to positions taken on items from prior years (44 ) (2 ) (19 ) (46 ) Increases related to positions taken on items from prior years 74 9 3 33 Increases related to positions taken in the current year 9 28 49 55 Settlement of uncertain tax positions with tax authorities (13 ) 1 (6 ) (314 ) Decreases due to expiration of statutes of limitations (5 ) (5 ) (86 ) (41 ) Exchange (gain) loss (13 ) 1 1 3 Total unrecognized tax benefits as of end of period $ 749 $ 741 $ 538 $ 596 Total unrecognized tax benefits that, if recognized, would impact the effective tax rate $ 157 $ 253 $ 188 $ 253 Total amount of interest and penalties (benefit) recognized in Provision for income taxes on continuing operations $ 11 $ 1 $ (27 ) $ 10 Total accrual for interest and penalties associated with unrecognized tax benefits $ 45 $ 47 $ 40 $ 98 1. The prior year amounts have been revised for amounts previously omitted. |
Tax Year Subject to Examination | Tax Years Subject to Examination by Major Tax Jurisdiction at Dec 31, Earliest Open Year Jurisdiction Brazil 2012 Canada 2013 China 2014 Denmark 2012 Germany 2006 India 2001 The Netherlands 2017 Switzerland 2014 United States: Federal income tax 2012 State and local income tax 2004 |
Earnings Per Share of Common _2
Earnings Per Share of Common Stock (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share of Common Stock Reconciliation | (In millions, except share amounts) For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 Numerator: Income from continuing operations after income taxes attributable to Historical DuPont $ 1,624 $ 2,072 Preferred dividends (7 ) (10 ) Income from continuing operations after income taxes available to Historical DuPont common stockholders $ 1,617 $ 2,062 Income from discontinued operations after income taxes available to Historical DuPont common stockholders 117 441 Net income available to common stockholders $ 1,734 $ 2,503 Denominator: Weighted-average number of common shares outstanding - Basic 867,888,000 872,560,000 Dilutive effect of the company’s employee compensation plans 4,532,000 4,476,000 Weighted-average number of common shares outstanding - Diluted 872,420,000 877,036,000 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | For the Period January 1 through August 31, 2017 For the Year Ended December 31, 2016 Average number of stock options 1,906 4,794,000 |
Accounts and Notes Receivable_2
Accounts and Notes Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Accounts and Notes Receivable | (In millions) December 31, December 31, Accounts receivable – trade 1 $ 3,912 $ 3,777 Notes receivable – trade 2 218 199 Other 3 1,404 1,263 Total accounts and notes receivable - net $ 5,534 $ 5,239 1. Accounts receivable – trade is net of allowances of $85 million at December 31, 2018 and $10 million at December 31, 2017. 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, 2018 and 2017, there were no significant past due notes receivable which required a reserve, nor were there any significant impairments related to current loan agreements. 3. Other includes receivables in relation to value added tax, fair value of derivative instruments, indemnification assets, related parties (see Note 7 for further information), and 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, 2018 | |
Inventory, Net [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | (In millions) December 31, December 31, Finished products $ 4,204 $ 4,500 Semi-finished products 1,769 2,769 Raw materials 481 371 Stores and supplies 441 447 Total $ 6,895 $ 8,087 Adjustment of inventories to a LIFO basis 512 546 Total inventories $ 7,407 $ 8,633 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | (In millions) December 31, 2018 December 31, 2017 Land and land improvements $ 915 $ 913 Buildings 2,656 2,747 Machinery and equipment 8,731 8,104 Construction in progress 1,604 1,114 Total property, plant and equipment 13,906 12,878 Accumulated depreciation (1,720 ) (443 ) Total property, plant and equipment - net $ 12,186 $ 12,435 |
Property, Plant and Equipment - Depreciation Expense [Table Text Block] | Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 Depreciation expense $ 1,308 $ 426 $ 589 $ 907 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Asset Disclosure [Abstract] | |
Schedule of Goodwill | (In millions) 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 Currency Translation Adjustment (806 ) Measurement Period Adjustments - Merger 392 Measurement Period Adjustments - H&N Business 14 Goodwill Impairment Loss (4,503 ) Balance as of December 31, 2018 ( Successor ) $ 40,686 |
Other Intangible Assets | (In millions) December 31, 2018 December 31, 2017 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets subject to amortization (Definite-lived): Customer-related $ 9,325 $ (744 ) $ 8,581 $ 9,502 $ (186 ) $ 9,316 Developed technology 4,506 (628 ) 3,878 4,364 (144 ) 4,220 Trademarks/trade names 1,084 (114 ) 970 1,117 (26 ) 1,091 Favorable supply contracts 475 (111 ) 364 495 (17 ) 478 Microbial cell factories 386 (22 ) 364 397 (6 ) 391 Other 1 377 (32 ) 345 459 (10 ) 449 Total other intangible assets with finite lives 16,153 (1,651 ) 14,502 16,334 (389 ) 15,945 Intangible assets not subject to amortization (Indefinite-lived): IPR&D 2 545 — 545 660 — 660 Germplasm 3 6,265 — 6,265 6,265 — 6,265 Trademarks / trade names 4,741 — 4,741 4,856 — 4,856 Total other intangible assets 11,551 — 11,551 11,781 — 11,781 Total $ 27,704 $ (1,651 ) $ 26,053 $ 28,115 $ (389 ) $ 27,726 1. Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements. 2. Refer to discussion of impairment analysis above. 3. Germplasm is the pool of genetic source material and body of knowledge gained from the development and delivery stage of plant breeding. 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) (Amounts in millions) Intangible assets with finite lives: Customer-related $ 9,215 17 Developed technology 4,239 12 Trademarks/trade names 1,045 16 Microbial cell factories 400 23 Other 461 17 Total other intangible assets with finite lives $ 15,360 Intangible assets with indefinite lives: IPR&D $ 660 Germplasm 6,263 Trademarks/trade names 4,788 Total intangible assets $ 27,071 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | (In millions) 2019 $ 1,228 2020 $ 1,211 2021 $ 1,199 2022 $ 1,182 2023 $ 1,078 |
Short-Term Borrowings, Long-T_2
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 (In millions) December 31, 2018 December 31, 2017 Commercial paper $ 1,847 $ 1,436 Other loans - various currencies 16 28 Long-term debt payable within one year 268 1,314 Capital lease obligations payable within one year 29 1 Total short-term borrowings and capital lease obligations $ 2,160 $ 2,779 |
Long-Term Debt | Long-Term Debt December 31, 2018 December 31, 2017 (In millions) Amount Weighted Average Rate Amount Weighted Average Rate Promissory notes and debentures 1 : Final maturity 2018 $ — — % $ 1,280 1.59 % Final maturity 2019 263 2.23 % 521 2.23 % Final maturity 2020 2,496 2.14 % 3,070 1.79 % Final maturity 2021 475 2.08 % 1,580 2.07 % Final maturity 2023 386 2.48 % 1,269 2.48 % Final maturity 2024 and thereafter 249 3.69 % 2,223 3.80 % Other facilities: Term loan due 2020 2 2,000 3.46 % 1,500 2.35 % Other loans 15 4.32 % 18 4.32 % Foreign currency loans, various rates and maturities — — % 30 2.85 % Medium-term notes, varying maturities through 2043 110 2.37 % 110 1.22 % Capital lease obligations 88 4 Less: Unamortized debt discount and issuance costs 2 — Less: Long-term debt due within one year 268 1,314 Total $ 5,812 $ 10,291 1. See discussion of debt extinguishment that follows. 2. The Term Loan Facility was amended in 2018 to extend the maturity date to June 2020. |
Maturities of Long-term Debt | Maturities of Long-Term Debt For Next Five Years 1 (In millions) 2019 $ 295 2020 $ 4,504 2021 $ 484 2022 $ 17 2023 $ 392 1. Excludes unamortized debt step-up premium. |
Committed and Available Credit Facilities | Committed and Available Credit Facilities at December 31, 2018 (In millions) Effective Date Committed Credit Credit Available Maturity Date Interest Revolving Credit Facility March 2018 $ 3,000 $ 2,956 June 2020 Floating Rate Term Loan Facility March 2018 4,500 2,500 June 2020 Floating Rate Total Committed and Available Credit Facilities $ 7,500 $ 5,456 |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Guarantor Obligations [Table Text Block] | Guarantees at December 31, 2018 Final Expiration Maximum Future Payments (In millions) Obligations for customers 1 : Bank borrowings 2022 $ 90 Obligations for non-consolidated affiliates 2 : Bank borrowings 2019 165 Residual value guarantees 3 2025 4 Total guarantees $ 259 1. Existing guarantees for select customers, as part of contractual agreements. The terms of the guarantees are equivalent to the terms of the customer loans that are primarily made to finance customer invoices. Of the total maximum future payments, $89 million had terms less than a year. 2. Existing guarantees for non-consolidated affiliates' liquidity needs in normal operations. 3. 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, 2016 (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, 2017, December 31, 2017 and December 31, 2018 (Successor) 1 100 — 1. All of the company's issued and outstanding common stock is held by the DowDuPont Inc. at September 1, 2017 and December 31, 2018. |
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 2016 Balance January 1, 2016 (Predecessor) $ (2,333 ) $ (24 ) $ (7,043 ) $ 22 $ (18 ) $ (9,396 ) 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 ) 2018 Other comprehensive income (loss) before reclassifications (1,512 ) (19 ) (723 ) 132 — (2,122 ) Amounts reclassified from accumulated other comprehensive income (loss) — (5 ) 5 — — — Net other comprehensive (loss) income (1,512 ) (24 ) (718 ) 132 — (2,122 ) Balance December 31, 2018 (Successor) $ (1,966 ) $ (26 ) $ (590 ) $ 79 $ — $ (2,503 ) 1. The cumulative translation adjustment losses for the year ended December 31, 2018, and for the period September 1 through December 31, 2017, are primarily driven by the strengthening of the 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. 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 18 for additional information. 3. In connection with the Merger, previously unrecognized prior service benefits and net losses related to Historical DuPont's pension and other post employment benefit ("OPEB") plans were eliminated as a result of reflecting the balance sheet at fair value as of the date of the Merger. See Note 3 and 18 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 Year Ended December 31, 2018 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 Derivative instruments $ 6 $ 1 $ 6 $ (19 ) Pension benefit plans - net 201 (37 ) (145 ) (163 ) Other benefit plans - net (40 ) 15 (5 ) 194 Benefit from (provision for) income taxes related to other comprehensive income (loss) items $ 167 $ (21 ) $ (144 ) $ 12 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Successor Predecessor Income Classification (In millions) For the Year Ended December 31, 2018 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 Derivative Instruments: $ (6 ) $ — $ (21 ) $ 18 (1) Tax expense (benefit) 1 — 8 (7 ) (2) After-tax $ (5 ) $ — $ (13 ) $ 11 Amortization of pension benefit plans: Prior service benefit — — (3 ) (6 ) (3),(4) Actuarial losses — — 506 822 (3),(4) Curtailment loss 7 — — 40 (3),(4) Settlement loss (2 ) — — 62 (3),(4) Total before tax $ 5 $ — $ 503 $ 918 Tax expense (benefit) — — (178 ) (324 ) (2) After-tax $ 5 $ — $ 325 $ 594 Amortization of other benefit plans: Prior service benefit — — (46 ) (134 ) (3),(4) Actuarial losses — — 61 78 (3),(4) Curtailment gain — — — (392 ) (3),(4) Total before tax $ — $ — $ 15 $ (448 ) Tax (benefit) expense — — (5 ) 150 (2) After-tax $ — $ — $ 10 $ (298 ) Net realized (losses) gains on investments, before tax: — — (1 ) 28 (4) Tax expense — — — — (2) After-tax $ — $ — $ (1 ) $ 28 Total reclassifications for the period, after-tax $ — $ — $ 321 $ 335 1. Cost of goods sold. 2. Provision for (benefit from) 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 18 for additional information. 4. Sundry income (expense) - net. |
Pension Plans and Other Post _2
Pension Plans and Other Post Employment Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 December 31, 2018 December 31, 2017 Discount rate 4.23 % 3.56 % 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 Year Ended December 31, 2018 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 Discount rate 3.56 % 3.62 % 4.03 % 3.87 % Assumed Health Care Cost Trend Rates December 31, 2018 December 31, 2017 Health care cost trend rate assumed for next year 7.50 % 6.40 % 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 2028 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 December 31, 2018 December 31, 2017 Discount rate 3.94 % 3.37 % Rate of increase in future compensation levels 1 2.90 % 4.04 % 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 December 31, 2018 rate is only applicable for non-U.S. pension plans since employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation as of November 30, 2018. 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 Year Ended December 31, 2018 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 Discount rate 3.38 % 3.42 % 3.80 % 3.77 % Rate of increase in future compensation levels 4.04 % 3.80 % 3.80 % 3.96 % Expected long-term rate of return on plan assets 6.19 % 6.24 % 7.66 % 7.74 % 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 Year Ended December 31, 2018 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 Discount rate 3.65 % 3.73 % 4.16 % 4.04 % Rate of increase in future compensation levels 4.25 % 3.95 % 3.95 % 4.15 % Expected long-term rate of return on plan assets 6.25 % 6.25 % 8.00 % 8.00 % |
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 Year Ended December 31, 2018 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, 2018 For the Period September 1 through December 31, 2017 1 For the Period January 1 through August 31, 2017 Change in benefit obligations: Benefit obligation at beginning of the period $ 25,550 $ 26,036 $ 24,831 $ 2,810 $ 2,772 $ 2,829 Service cost 131 49 92 9 3 6 Interest cost 752 247 524 85 26 60 Plan participants' contributions 10 6 8 38 12 26 Actuarial (gain) loss (1,078 ) (23 ) — (172 ) 68 — Benefits paid 2 (1,747 ) (730 ) (1,118 ) (254 ) (71 ) (192 ) Plan amendments 17 — — — — — Net effects of acquisitions / divestitures / other (12 ) 22 — — — — Effect of foreign exchange rates (209 ) (57 ) 429 (2 ) — 2 Benefit obligations at end of the period $ 23,414 $ 25,550 $ 24,766 $ 2,514 $ 2,810 $ 2,731 Change in plan assets: Fair value of plan assets at beginning of the period $ 20,284 $ 20,395 $ 16,656 $ — $ — $ — Actual return on plan assets (782 ) 549 846 — — — Employer contributions 1,308 68 3,024 216 59 166 Plan participants' contributions 10 6 8 38 12 26 Benefits paid 2 (1,747 ) (730 ) (1,118 ) (254 ) (71 ) (192 ) Net effects of acquisitions / divestitures / other (7 ) 29 — — — — Effect of foreign exchange rates (148 ) (33 ) 269 — — — Fair value of plan assets at end of the period $ 18,918 $ 20,284 $ 19,685 $ — $ — $ — Funded status U.S. plan with plan assets $ (2,890 ) $ (3,628 ) $ (3,277 ) $ — $ — $ — Non-U.S. plans with plan assets (488 ) (447 ) (609 ) — — — All other plans 3, 4 (1,118 ) (1,191 ) (1,187 ) (2,514 ) (2,810 ) (2,731 ) Plans of discontinued operations — — (8 ) — — — Funded status at end of the period $ (4,496 ) $ (5,266 ) $ (5,081 ) $ (2,514 ) $ (2,810 ) $ (2,731 ) 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 2017, about $140 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. 3. As of December 31, 2018, and December 31, 2017, $349 million and $389 million respectively 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) December 31, 2018 December 31, 2017 December 31, 2018 December 31, 2017 Amounts recognized in the Consolidated Balance Sheets: Other Assets $ 11 $ 47 $ — $ — Accrued and other current liabilities (95 ) (86 ) (243 ) (250 ) Pension and other post employment benefits - noncurrent (4,412 ) (5,227 ) (2,271 ) (2,560 ) Net amount recognized $ (4,496 ) $ (5,266 ) $ (2,514 ) $ (2,810 ) Pretax amounts recognized in accumulated other comprehensive loss (income): Net loss (gain) $ 737 $ (165 ) $ (104 ) $ 68 Prior service cost 17 — — — Pretax balance in accumulated other comprehensive loss (income) at end of year $ 754 $ (165 ) $ (104 ) $ 68 |
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 December 31, 2018 December 31, 2017 (In millions) Projected benefit obligations $ 23,143 $ 25,254 Fair value of plan assets 18,636 19,941 |
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 December 31, 2018 December 31, 2017 (In millions) Accumulated benefit obligations $ 22,185 $ 24,315 Fair value of plan assets 17,901 19,335 |
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 Year Ended December 31, 2018 For the Period For the Period For the Year Ended December 31, 2016 For the Year Ended December 31, 2018 For the Period For the Period For the Year Ended December 31, 2016 Net Periodic Benefit Cost: Service cost $ 131 $ 49 $ 92 $ 174 $ 9 $ 3 $ 6 $ 11 Interest cost 752 247 524 800 85 26 60 87 Expected return on plan assets (1,202 ) (407 ) (824 ) (1,320 ) — — — — Amortization of unrecognized loss 7 — 506 822 — — 61 78 Amortization of prior service benefit — — (3 ) (6 ) — — (46 ) (134 ) Curtailment (gain) loss (11 ) — — 40 — — — (392 ) Settlement loss 1 — — 62 — — — — Net periodic (credit) benefit cost - Total $ (322 ) $ (111 ) $ 295 $ 572 $ 94 $ 29 $ 81 $ (350 ) Less: Discontinued operations — 1 3 — — — — — Net periodic (credit) benefit cost - Continuing operations $ (322 ) $ (112 ) $ 292 $ 572 $ 94 $ 29 $ 81 $ (350 ) Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss: Net loss (gain) $ 906 $ (165 ) $ (22 ) $ 570 $ (172 ) $ 68 $ — $ 153 Amortization of unrecognized loss (7 ) — (506 ) (822 ) — — (61 ) (78 ) Prior service cost (benefit) 17 — — — — — — (28 ) Amortization of prior service benefit — — 3 6 — — 46 134 Curtailment (loss) gain — — — (40 ) — — — 392 Settlement gain (loss) 2 — — (62 ) — — — — Effect of foreign exchange rates 1 — 133 (138 ) — — — — Total loss (benefit) recognized in other comprehensive loss, attributable to Historical DuPont $ 919 $ (165 ) $ (392 ) $ (486 ) $ (172 ) $ 68 $ (15 ) $ 573 Total recognized in net periodic benefit cost and other comprehensive loss (income) $ 597 $ (276 ) $ (97 ) $ 86 $ (78 ) $ 97 $ 66 $ 223 |
Schedule of Expected Benefit Payments [Table Text Block] | Estimated Future Benefit Payments at December 31, 2018 Defined Benefit Pension Plans Other Post Employment Benefits (In millions) 2019 $ 1,648 $ 240 2020 1,613 235 2021 1,597 226 2022 1,574 219 2023 1,556 210 Years 2024-2028 7,437 861 Total $ 15,425 $ 1,991 |
Schedule of Allocation of Plan Assets [Table Text Block] | Target Allocation for Plan Assets December 31, 2018 December 31, 2017 Asset Category U.S. equity securities 19 % 17 % Non-U.S. equity securities 16 18 Fixed income securities 50 50 Hedge funds 2 2 Private market securities 8 8 Real estate 3 3 Cash and cash equivalents 2 2 Total 100 % 100 % Basis of Fair Value Measurements For the year ended December 31, 2018 (In millions) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,824 $ 1,824 $ — $ — U.S. equity securities 1 3,537 3,521 2 14 Non-U.S. equity securities 2,582 2,565 15 2 Debt – government-issued 3,659 211 3,448 — Debt – corporate-issued 3,037 253 2,770 14 Debt – asset-backed 721 39 682 — Hedge funds 162 162 — — Private market securities 1 — — 1 Real estate 336 243 — 93 Derivatives – asset position 10 1 9 — Derivatives – liability position (18 ) — (18 ) — Other 206 — — 206 Subtotal $ 16,057 $ 8,819 $ 6,908 $ 330 Investments measured at net asset value Debt - government issued 208 Hedge funds 678 Private market securities 1,861 Real estate funds 112 Total investments measured at net asset value $ 2,859 Other items to reconcile to fair value of plan assets Pension trust receivables 2 210 Pension trust payables 3 (208 ) Total $ 18,918 1. The Historical DuPont pension plans directly held $684 million ( 4 percent of total plan assets) of DowDuPont common stock at December 31, 2018. 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, 2017 (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 Historical 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 |
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 Other Total (In millions) Predecessor Balance at January 1, 2017 $ 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 Actual return on assets: Relating to assets sold during the year ended December 31, 2018 (1 ) (4 ) (80 ) — — — 2 — (83 ) Relating to assets held at December 31, 2018 (4 ) 3 87 — — (3 ) — (11 ) 72 Purchases, sales and settlements, net 3 — (15 ) — — — (3 ) 217 202 Transfers out of Level 3, net (1 ) — (5 ) (2 ) (2 ) (10 ) (2 ) — (22 ) Balance at December 31, 2018 $ 14 $ 2 $ 14 $ — $ — $ 1 $ 93 $ 206 $ 330 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Weighted Average Assumptions - Stock Option Awards | Weighted-Average Assumptions Successor Predecessor For the Year Ended December 31, 2018 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 Dividend yield 2.1 % 2.2 % 2.0 % 2.6 % Expected volatility 23.3 % 23.59 % 23.21 % 28.27 % Risk-free interest rate 2.8 % 2.1 % 2.3 % 1.8 % Expected life of stock options granted during period (years) 6.2 7.2 7.2 7.2 |
Stock Option Activity | Stock Options For the Year Ended December 31, 2018 Number of Shares (in thousands) Weighted Average Exercise Price (per share) Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2018 15,889 $ 48.43 Granted 3,251 71.85 Exercised (1,920 ) 44.49 Forfeited/Expired (141 ) 56.63 Outstanding at December 31, 2018 17,079 $ 53.26 4.77 $ 909,699 Exercisable at December 31, 2018 12,103 $ 48.14 3.17 $ 582,700 |
RSU and PSU Activity | For the Year Ended December 31, 2018 Number of Shares (in thousands) Weighted Average Grant Date Fair Value (per share) Nonvested at January 1, 2018 4,198 $ 68.28 Granted 965 70.37 Vested (1,904 ) 67.49 Forfeited (112 ) 66.86 Nonvested at December 31, 2018 3,147 $ 68.18 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investments, All Other Investments [Abstract] | |
Notional Amounts of Derivatives | Notional Amounts December 31, 2018 December 31, 2017 (In millions) Derivatives designated as hedging instruments: Commodity contracts $ 525 $ 587 Derivatives not designated as hedging instruments: Foreign currency contracts 2,057 3,922 Commodity contracts 9 6 |
After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | Successor Predecessor (In millions) For the Year Ended December 31, 2018 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 Beginning balance $ (2 ) $ — $ 7 $ (24 ) Additions and revaluations of derivatives designated as cash flow hedges (19 ) (2 ) 3 20 Clearance of hedge results to earnings (5 ) — (13 ) 11 Ending balance $ (26 ) $ (2 ) $ (3 ) $ 7 |
Fair Value of Derivatives Instruments | December 31, 2018 (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 $ 72 $ (35 ) $ 37 Total asset derivatives $ 72 $ (35 ) $ 37 Liability derivatives: Derivatives not designated as hedging instruments: Foreign currency contracts Accrued and other current liabilities $ 21 $ (15 ) $ 6 Total liability derivatives $ 21 $ (15 ) $ 6 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 $20 million and $5 million as of December 31, 2018 and 2017, respectively. |
Effect of Derivative Instruments | Amount of Gain (Loss) Recognized in OCI 1 - Pre Tax Successor Predecessor (In millions) Year Ended December 31, 2018 For the Period For the Period Year Ended December 31, 2016 Derivatives designated as hedging instruments: Cash flow hedges: Commodity contracts $ (24 ) $ 3 $ 5 $ 32 Total derivatives designated as hedging instruments $ (24 ) $ 3 $ 5 $ 32 Total derivatives $ (24 ) $ 3 $ 5 $ 32 1. OCI is defined as other comprehensive income (loss). Amount of Gain (Loss) Recognized in Income - Pre Tax 1 Successor Predecessor (In millions) Year Ended December 31, 2018 For the Period For the Period Year Ended December 31, 2016 Derivatives designated as hedging instruments: Cash flow hedges: Commodity contracts 2 $ 6 $ — $ 21 $ (18 ) Total derivatives designated as hedging instruments $ 6 $ — $ 21 $ (18 ) Derivatives not designated as hedging instruments: Foreign currency contracts 4 94 91 (431 ) (304 ) Foreign currency contracts 3 — — — (12 ) Commodity contracts 2 5 — 2 (11 ) Total derivatives not designated as hedging instruments 99 91 (429 ) (327 ) Total derivatives $ 105 $ 91 $ (408 ) $ (345 ) 1. For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period. 2. Recorded in cost of goods sold. 3. Recorded in net sales. 4. Gain recognized in sundry income (expense) - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 8 for additional information. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Basis of Fair Value Measurements on a Nonrecurring Basis Significant Other Unobservable Inputs (Level 3) Total Losses (In millions) 2018 Assets at fair value: Investment in nonconsolidated affiliates $ 51 $ (41 ) Other intangible assets $ 450 $ (85 ) 2016 Assets at fair value: Property, plant and equipment $ — $ (435 ) Other intangible assets $ 28 $ (158 ) |
Fair Value of Assets and Liabilities Measured on Recurring Basis | December 31, 2018 Significant Other Observable Inputs (Level 2) (In millions) Assets at fair value: Cash equivalents and restricted cash equivalents 1 $ 3,551 Marketable securities 34 Derivatives relating to: 2 Foreign currency 72 Total assets at fair value $ 3,657 Liabilities at fair value: Long-term debt 3 $ 6,100 Derivatives relating to: 2 Foreign currency 21 Total liabilities at fair value $ 6,121 December 31, 2017 Significant Other Observable Inputs (Level 2) (In millions) Assets at fair value: Cash equivalents and restricted 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 20 for the classification of derivatives in the consolidated balance sheets. 3. See Note 15 for information on fair value measurements of long-term debt. |
Geographic Information (Tables)
Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Geographic Area, Revenues from External Customers [Abstract] | |
Net Sales by Geographic Area | Net Sales Successor Predecessor (In millions) Year Ended December 31, 2018 For the Period For the Period Year Ended December 31, 2016 United States $ 10,118 $ 2,086 $ 7,535 $ 9,500 Canada 767 139 583 669 EMEA 1 6,275 1,689 3,927 5,251 Asia Pacific 2 6,470 2,047 3,844 5,407 Latin America 2,649 1,092 1,392 2,382 Total $ 26,279 $ 7,053 $ 17,281 $ 23,209 1. Europe, Middle East, and Africa (EMEA). 2. Net sales for China in the period September 1 through December 31, 2017 were $818 million . Net sales for China were less than 10 percent of consolidated net sales in all other periods presented. |
Net Property By Geographic Area | Net Property Successor Predecessor (In millions) 2018 2017 2016 United States $ 7,591 $ 7,708 $ 5,951 Canada 163 170 124 EMEA 1 2,784 2,867 1,550 Asia Pacific 1,095 1,120 797 Latin America 553 570 429 Total $ 12,186 $ 12,435 $ 8,851 1. Europe, Middle East, and Africa (EMEA). |
Quaterly Financial Data (Tables
Quaterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Data [Abstract] | |
Quarterly Financial Information | 2018 - Successor In millions, except per share amounts (unaudited) First Second Third Fourth Net sales $ 6,699 $ 8,545 $ 5,294 $ 5,741 Cost of goods sold 1 4,847 5,669 3,686 3,980 Restructuring and asset related charges - net 2 97 91 182 115 Integration and separation costs 255 327 344 449 Goodwill impairment charge 3 — — 4,503 — (Loss) income from continuing operations after income taxes (216 ) 4 514 4 (4,960 ) 4,5 (351 ) 4,6 Net (loss) income (221 ) 7 514 (4,960 ) (351 ) Net (loss) income attributable to Historical DuPont (228 ) 513 (4,960 ) (354 ) 2017 Predecessor Successor In millions, except per share amounts (unaudited) First Second July 1 - Aug 31 Sept 1 - Sept 30 Fourth Net sales $ 7,319 $ 6,971 $ 2,991 $ 1,735 $ 5,318 Cost of goods sold 4,152 3,963 1,937 1,531 1 4,709 1 Restructuring and asset related charges - net 2 152 160 11 40 140 Integration and separation costs 8 71 243 Income (loss) from continuing operations after income taxes 1,178 9,10 722 (258 ) (275 ) 1,362 4 Net income (loss) 11 1,121 869 (229 ) (295 ) 1,305 Net income (loss) attributable to Historical DuPont 1,113 862 (234 ) (293 ) 1,303 Earnings (loss) per common share, continuing operations - basic 12 1.35 0.82 (0.30 ) Earnings (loss) per common share, continuing operations - diluted 12 1.34 0.82 (0.30 ) 1. Includes charges of $(360) million and $(1,109) million , $(703) million , $(682) million , $(109) million , and $(134) million during the period September 1 - September 30, 2017, fourth quarter 2017, first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business. See Note 3 for additional information. 2. See Note 6 for additional information. 3. See Note 14 for additional information. 4. Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to The Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. Includes tax (charges) benefits of $(102) million , $(7) million , $46 million , and $(167) million in the first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to The Act. See Note 9 for additional information. 5. Includes a tax charge of $(75) million in the third quarter 2018 related to the establishment of a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil. See Note 9 for additional information. 6. Includes a loss on early extinguishment of debt of $(81) million in the fourth quarter 2018 related to the retirement of some of the company's notes payable. See Note 15 for additional information. 7. Includes loss from discontinued operations after taxes related to the Divested Ag Business of $(5) million in the first quarter 2018. See Note 4 for additional information. 8. Integration and separation costs were $170 million , $201 million , and $210 million in the first quarter 2017, second quarter 2017, and the period July 1 - August 31, 2017, respectively. In the Predecessor periods, costs are recorded in selling, general and administrative expenses. See Note 3 for additional information. 9. First quarter 2017 included a gain of $162 million recorded in sundry income - net associated with the sale of the company's global food safety diagnostic business. See Note 4 for additional information. 10. First quarter 2017 included a tax benefit of $53 million , as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income (expense) - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. 11. Includes income (loss) from discontinued operations after taxes primarily related to the Divested Ag Business of $160 million , $137 million , $29 million , $(20) million , and $(57) million , in the first quarter 2017, second quarter 2017, the period July 1 - August 31, 2017, the period September 1 - September 30, 2017, and fourth quarter 2017, respectively. Additionally, includes income (loss) from discontinued operations after taxes primarily related to Chemours of $(217) million and $10 million , in the first quarter 2017 and second quarter 2017, respectively. See Note 4 for additional information. 12. Due to quarterly changes in the share count and the allocation of income to participating securities, the sum of the four quarters may not equal the earnings per share amount calculated for the year. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Successor [Member] | ||
Restricted Cash | $ 500 | $ 558 |
Percentage of FIFO Inventory | 50.00% | 60.00% |
Percentage of Weighted Average Cost Inventory | 35.00% | 30.00% |
Percentage of LIFO Inventory | 15.00% | 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 | |
Other Current Assets [Member] | ||
Prepaid Royalties | $ 239 | |
Restricted Cash | 500 | $ 558 |
Other Noncurrent Assets [Member] | ||
Prepaid Royalties | $ 1,139 |
Recent Accounting Guidance Reve
Recent Accounting Guidance Revenue ASU - Balance Sheet Impact of Adoption (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable - net | $ 5,534 | $ 5,239 | |
Inventories | 7,407 | 8,633 | |
Other current assets | 1,165 | 981 | |
Deferred Income Taxes | 303 | 480 | |
Accounts Payable | 4,982 | 4,831 | |
Accrued and other current liabilities | 4,233 | 4,384 | |
Deferred income tax liabilities | 5,381 | 5,836 | |
(Accumulated deficit) retained earnings | (7,669) | 175 | |
Return assets | $ 61 | ||
Return liabilities | 119 | ||
Updated [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable - net | 5,318 | ||
Inventories | 8,580 | ||
Other current assets | 1,082 | ||
Deferred Income Taxes | 481 | ||
Accounts Payable | 4,828 | ||
Accrued and other current liabilities | 4,504 | ||
Deferred income tax liabilities | 5,839 | ||
(Accumulated deficit) retained earnings | 183 | ||
As Reported [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable - net | 5,239 | ||
Inventories | 8,633 | ||
Other current assets | 981 | ||
Deferred Income Taxes | 480 | ||
Accounts Payable | 4,831 | ||
Accrued and other current liabilities | 4,384 | ||
Deferred income tax liabilities | 5,836 | ||
(Accumulated deficit) retained earnings | $ 175 | ||
Effect of Adoption of ASU 2014-09 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable - net | (40) | 79 | |
Inventories | 32 | (53) | |
Other current assets | (80) | 101 | |
Deferred Income Taxes | (1) | 1 | |
Accounts Payable | (3) | ||
Accrued and other current liabilities | (80) | 120 | |
Deferred income tax liabilities | (3) | 3 | |
(Accumulated deficit) retained earnings | $ (6) | $ 8 |
Recent Accounting Guidance Re_2
Recent Accounting Guidance Revenue ASU - Balance Sheet Current Period Impact (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable - net | $ 5,534 | $ 5,239 | |
Inventories | 7,407 | 8,633 | |
Other current assets | 1,165 | 981 | |
Deferred Income Taxes | 303 | 480 | |
Accrued and other current liabilities | 4,233 | 4,384 | |
Deferred income tax liabilities | 5,381 | 5,836 | |
(Accumulated deficit) retained earnings | (7,669) | $ 175 | |
Effect of Adoption of ASU 2014-09 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable - net | (40) | $ 79 | |
Inventories | 32 | (53) | |
Other current assets | (80) | 101 | |
Deferred Income Taxes | (1) | 1 | |
Accrued and other current liabilities | (80) | 120 | |
Deferred income tax liabilities | (3) | 3 | |
(Accumulated deficit) retained earnings | (6) | $ 8 | |
Balance without Adoption of ASU 2014-09 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable - net | 5,494 | ||
Inventories | 7,439 | ||
Other current assets | 1,085 | ||
Deferred Income Taxes | 302 | ||
Accrued and other current liabilities | 4,153 | ||
Deferred income tax liabilities | 5,378 | ||
(Accumulated deficit) retained earnings | $ (7,675) |
Recent Accounting Guidance Re_3
Recent Accounting Guidance Revenue ASU - Income Statement Impact (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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | ||||||||
Effect of Adoption of ASU 2017-07 [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Cost of Goods Sold | $ 75 | $ (153) | $ (18) | |||||||||||||||||
Sundry income (expense) - net | 134 | (279) | (40) | |||||||||||||||||
Research and Development Expense | 19 | (42) | (6) | |||||||||||||||||
Selling, General and Administrative Expense | 40 | (84) | (16) | |||||||||||||||||
Effect of Adoption of ASU 2014-09 [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Net Sales | $ (69) | |||||||||||||||||||
Sundry income (expense) - net | 71 | |||||||||||||||||||
Loss from continuing operations before income taxes | 2 | |||||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | 0 | |||||||||||||||||||
Loss from continuing operations after income taxes | 2 | |||||||||||||||||||
Balance without Adoption of ASU 2014-09 [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Net Sales | 26,210 | |||||||||||||||||||
Sundry income (expense) - net | 614 | |||||||||||||||||||
Loss from continuing operations before income taxes | (4,791) | |||||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | 220 | |||||||||||||||||||
Loss from continuing operations after income taxes | (5,011) | |||||||||||||||||||
Previously Reported [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Cost of Goods Sold | 6,165 | 10,205 | 13,955 | |||||||||||||||||
Sundry income (expense) - net | 90 | 166 | 707 | |||||||||||||||||
Research and Development Expense | 473 | 1,064 | 1,502 | |||||||||||||||||
Selling, General and Administrative Expense | 1,101 | 3,306 | 4,143 | |||||||||||||||||
Successor [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Cost of Goods Sold | $ 1,531 | [1] | $ 3,980 | [1] | $ 3,686 | [1] | $ 5,669 | [1] | $ 4,847 | [1] | $ 4,709 | [1] | 6,240 | 18,182 | ||||||
Net Sales | 1,735 | 5,741 | 5,294 | 8,545 | 6,699 | 5,318 | 7,053 | 26,279 | ||||||||||||
Sundry income (expense) - net | 224 | 543 | ||||||||||||||||||
Loss from continuing operations before income taxes | (1,586) | (4,793) | ||||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | (2,673) | 220 | ||||||||||||||||||
Loss from continuing operations after income taxes | $ (275) | $ (351) | [2],[3] | $ (4,960) | [3],[4] | $ 514 | [3] | $ (216) | [3] | $ 1,362 | [3] | 1,087 | (5,013) | |||||||
Research and Development Expense | 492 | 1,524 | ||||||||||||||||||
Selling, General and Administrative Expense | $ 1,141 | $ 3,853 | ||||||||||||||||||
Predecessor [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Cost of Goods Sold | $ 1,937 | $ 3,963 | $ 4,152 | 10,052 | 13,937 | |||||||||||||||
Net Sales | 2,991 | 6,971 | 7,319 | 17,281 | 23,209 | |||||||||||||||
Sundry income (expense) - net | (113) | 667 | ||||||||||||||||||
Loss from continuing operations before income taxes | 1,791 | 2,723 | ||||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | 149 | 641 | ||||||||||||||||||
Loss from continuing operations after income taxes | $ (258) | $ 722 | $ 1,178 | [5],[6] | 1,642 | 2,082 | ||||||||||||||
Research and Development Expense | 1,022 | 1,496 | ||||||||||||||||||
Selling, General and Administrative Expense | $ 3,222 | $ 4,127 | ||||||||||||||||||
[1] | Includes charges of $(360) million and $(1,109) million, $(703) million, $(682) million, $(109) million, and $(134) million during the period September 1 - September 30, 2017, fourth quarter 2017, first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business. See Note 3 for additional information. | |||||||||||||||||||
[2] | Includes a loss on early extinguishment of debt of $(81) million in the fourth quarter 2018 related to the retirement of some of the company's notes payable. See Note 15 for additional information. | |||||||||||||||||||
[3] | Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to The Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. Includes tax (charges) benefits of $(102) million, $(7) million, $46 million, and $(167) million in the first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to The Act. See Note 9 for additional information. | |||||||||||||||||||
[4] | Includes a tax charge of $(75) million in the third quarter 2018 related to the establishment of a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil. See Note 9 for additional information. | |||||||||||||||||||
[5] | 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. | |||||||||||||||||||
[6] | First quarter 2017 included a tax benefit of $53 million, as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income (expense) - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. |
Recent Accounting Guidance Pens
Recent Accounting Guidance Pension ASU (Details) - USD ($) $ 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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | ||||||||
Effect of Adoption of ASU 2014-09 [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Net Sales | $ (69) | |||||||||||||||||||
Sundry income (expense) - net | 71 | |||||||||||||||||||
Loss from continuing operations before income taxes | 2 | |||||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | 0 | |||||||||||||||||||
Loss from continuing operations after income taxes | 2 | |||||||||||||||||||
Effect of Adoption of ASU 2017-07 [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Cost of Goods Sold | $ 75 | $ (153) | $ (18) | |||||||||||||||||
Sundry income (expense) - net | 134 | (279) | (40) | |||||||||||||||||
Research and Development Expense | 19 | (42) | (6) | |||||||||||||||||
Selling, General and Administrative Expense | 40 | (84) | (16) | |||||||||||||||||
Balance without Adoption of ASU 2014-09 [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Net Sales | 26,210 | |||||||||||||||||||
Sundry income (expense) - net | 614 | |||||||||||||||||||
Loss from continuing operations before income taxes | (4,791) | |||||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | 220 | |||||||||||||||||||
Loss from continuing operations after income taxes | (5,011) | |||||||||||||||||||
Previously Reported [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Cost of Goods Sold | 6,165 | 10,205 | 13,955 | |||||||||||||||||
Sundry income (expense) - net | 90 | 166 | 707 | |||||||||||||||||
Research and Development Expense | 473 | 1,064 | 1,502 | |||||||||||||||||
Selling, General and Administrative Expense | 1,101 | 3,306 | 4,143 | |||||||||||||||||
Predecessor [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Cost of Goods Sold | $ 1,937 | $ 3,963 | $ 4,152 | 10,052 | 13,937 | |||||||||||||||
Net Sales | 2,991 | 6,971 | 7,319 | 17,281 | 23,209 | |||||||||||||||
Sundry income (expense) - net | (113) | 667 | ||||||||||||||||||
Loss from continuing operations before income taxes | 1,791 | 2,723 | ||||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | 149 | 641 | ||||||||||||||||||
Loss from continuing operations after income taxes | $ (258) | $ 722 | $ 1,178 | [1],[2] | 1,642 | 2,082 | ||||||||||||||
Research and Development Expense | 1,022 | 1,496 | ||||||||||||||||||
Selling, General and Administrative Expense | $ 3,222 | $ 4,127 | ||||||||||||||||||
Successor [Member] | ||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||
Cost of Goods Sold | $ 1,531 | [3] | $ 3,980 | [3] | $ 3,686 | [3] | $ 5,669 | [3] | $ 4,847 | [3] | $ 4,709 | [3] | 6,240 | 18,182 | ||||||
Net Sales | 1,735 | 5,741 | 5,294 | 8,545 | 6,699 | 5,318 | 7,053 | 26,279 | ||||||||||||
Sundry income (expense) - net | 224 | 543 | ||||||||||||||||||
Loss from continuing operations before income taxes | (1,586) | (4,793) | ||||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | (2,673) | 220 | ||||||||||||||||||
Loss from continuing operations after income taxes | $ (275) | $ (351) | [4],[5] | $ (4,960) | [5],[6] | $ 514 | [5] | $ (216) | [5] | $ 1,362 | [5] | 1,087 | (5,013) | |||||||
Research and Development Expense | 492 | 1,524 | ||||||||||||||||||
Selling, General and Administrative Expense | $ 1,141 | $ 3,853 | ||||||||||||||||||
[1] | 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. | |||||||||||||||||||
[2] | First quarter 2017 included a tax benefit of $53 million, as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income (expense) - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. | |||||||||||||||||||
[3] | Includes charges of $(360) million and $(1,109) million, $(703) million, $(682) million, $(109) million, and $(134) million during the period September 1 - September 30, 2017, fourth quarter 2017, first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business. See Note 3 for additional information. | |||||||||||||||||||
[4] | Includes a loss on early extinguishment of debt of $(81) million in the fourth quarter 2018 related to the retirement of some of the company's notes payable. See Note 15 for additional information. | |||||||||||||||||||
[5] | Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to The Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. Includes tax (charges) benefits of $(102) million, $(7) million, $46 million, and $(167) million in the first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to The Act. See Note 9 for additional information. | |||||||||||||||||||
[6] | Includes a tax charge of $(75) million in the third quarter 2018 related to the establishment of a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil. See Note 9 for additional information. |
Recent Accounting Guidance Cash
Recent Accounting Guidance Cash Flow ASU - Statement of Cash Flow Impact (Details) - USD ($) $ in Millions | 4 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Cash and Cash Equivalents | $ 7,250 | $ 4,466 |
Cash, Cash Equivalents, and Restricted Cash | 7,808 | $ 4,966 |
As Reported [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Payment into a trust account | (571) | |
Distribution from trust account | 13 | |
Net Cash Provided by (Used in) Investing Activities | 2,210 | |
Increase (Decrease) in Cash and Cash Equivalents | 3,245 | |
Cash and Cash Equivalents | 7,250 | |
Effect of Adoption of ASU 2014-09 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Payment into a trust account | 571 | |
Distribution from trust account | (13) | |
Net Cash Provided by (Used in) Investing Activities | 558 | |
Increase (Decrease) in Cash and Cash Equivalents | 558 | |
Cash and Cash Equivalents | 558 | |
Updated [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Payment into a trust account | 0 | |
Distribution from trust account | 0 | |
Net Cash Provided by (Used in) Investing Activities | 2,768 | |
Increase (Decrease) in Cash and Cash Equivalents | $ 3,803 |
Recent Accounting Guidance Leas
Recent Accounting Guidance Lease ASU - Effect on Balance Sheet (Details) - Scenario, Forecast [Member] - Accounting Standards Update 2016-02 [Member] $ in Millions | Dec. 31, 2018USD ($) |
Minimum [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Operating Lease, Right-of-Use Asset | $ 600 |
Maximum [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Operating Lease, Right-of-Use Asset | $ 800 |
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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | Aug. 30, 2017 | ||
Business Acquisition [Line Items] | |||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.30 | $ 0.30 | $ 0.30 | $ 0.30 | |||||||||||||
Goodwill | $ 40,686 | $ 45,589 | $ 45,589 | $ 40,686 | |||||||||||||
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 | 4,927 | $ 4,927 | $ 4,927 | ||||||||||||||
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 | 11,684 | 11,684 | 11,684 | ||||||||||||||
Goodwill | 45,497 | $ 45,497 | $ 45,497 | ||||||||||||||
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 | $ 7,344 | $ 7,344 | $ 7,344 | ||||||||||||||
Building [Member] | Merger with Dow [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Property, plant and equipment | 2,418 | 2,418 | 2,418 | ||||||||||||||
Construction in Progress [Member] | Merger with Dow [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Property, plant and equipment | 995 | 995 | 995 | ||||||||||||||
Land and Land Improvements [Member] | Merger with Dow [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Property, plant and equipment | 927 | 927 | 927 | ||||||||||||||
Successor [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 360 | 134 | $ 109 | $ 682 | $ 703 | 1,109 | 1,469 | 1,628 | |||||||||
Goodwill | 45,105 | 45,105 | 40,686 | 45,589 | 45,589 | 45,105 | 40,686 | ||||||||||
Integration and Separation Costs | $ 71 | [1] | $ 449 | $ 344 | $ 327 | $ 255 | $ 243 | [1] | 314 | 1,375 | |||||||
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 | $ 1,563 | |||||||||||||||
Disposal Group, Including Discontinued Operations, Fair Value Step-Up Of Acquired Inventory Recognized | $ 104 | ||||||||||||||||
Predecessor [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Goodwill | $ 4,543 | 4,543 | 4,543 | $ 4,169 | |||||||||||||
Integration and Separation Costs | $ 210 | $ 201 | $ 170 | $ 581 | $ 386 | ||||||||||||
[1] | Integration and separation costs were $170 million, $201 million, and $210 million in the first quarter 2017, second quarter 2017, and the period July 1 - August 31, 2017, respectively. In the Predecessor periods, costs are recorded in selling, general and administrative expenses. See Note 3 for additional information. |
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 Historical DuPont's equity awards outstanding immediately before the Merger and attributable to the service periods prior to the Merger. The previous Historical 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 Historical Dow Common Stock of $66.65 on August 31, 2017. |
Business Combinations Fair Va_2
Business Combinations Fair Value of Assets and Liabilities (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended | |||||
Sep. 30, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2018 | Aug. 31, 2017 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | |||||||||
Goodwill | $ 40,686 | $ 45,589 | $ 45,589 | $ 40,686 | |||||
Merger with Dow [Member] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | |||||||||
Cash and Equivalents | $ 4,005 | ||||||||
Marketable Securities | 2,849 | ||||||||
Accounts and Notes Receivable | 7,834 | ||||||||
Inventories | 8,805 | ||||||||
Other current assets | 420 | ||||||||
Investment in nonconsolidated affiliates | 1,596 | ||||||||
Assets held for sale - current | 3,732 | ||||||||
Property, plant and equipment | 11,684 | ||||||||
Property, plant and equipment measurement period adjustments | (257) | ||||||||
Goodwill | 45,497 | ||||||||
Goodwill, Measurement Period Adjustments | 392 | ||||||||
Other intangible assets | 27,071 | ||||||||
Other intangible assets measurement period adjustments | (150) | ||||||||
Deferred income taxes | 279 | ||||||||
Other assets | 2,066 | ||||||||
Total assets | 115,838 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | |||||||||
Short Term Borrowings and capital lease obligations | 5,319 | ||||||||
Accounts Payable | 3,298 | ||||||||
Income Taxes Payable | 261 | ||||||||
Accrued and other current liabilities | 3,517 | ||||||||
Liabilities Held For Sale Current | 125 | ||||||||
Long-term Debt | 9,878 | ||||||||
Deferred Tax Liabilities | 8,259 | ||||||||
Pension And Other Postretirement Benefits Noncurrent | 8,056 | ||||||||
Other Noncurrent Obligations | 1,967 | ||||||||
Total Liabilities | 40,680 | ||||||||
Noncontrolling interest | 239 | ||||||||
Noncontrolling interest measurement period adjustments | 61 | ||||||||
Preferred Stock | 239 | ||||||||
Fair value of net assets | 74,680 | ||||||||
Successor [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 360 | 134 | $ 109 | $ 682 | $ 703 | 1,109 | 1,469 | 1,628 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | |||||||||
Goodwill | $ 40,686 | $ 45,589 | 45,589 | 40,686 | $ 45,105 | ||||
Successor [Member] | Merger with Dow [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | 1,434 | 1,563 | |||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory Recognized Including Discontinued Operations | $ 1,538 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | |||||||||
Goodwill, Measurement Period Adjustments | $ 392 |
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 | [3] |
[1] | Upon closing and pursuant to the terms of the FMC Transaction Agreement, Historical DuPont entered into favorable supply contracts with FMC. Historical DuPont recorded these contracts as intangible assets recognized at the fair value of off-market contracts. Refer to Notes 4 and 14 for additional information. | |
[2] | Refer to Note 4 for additional information. | |
[3] | The FMC Transactions include a cash consideration payment to Historical DuPont of approximately $1,200 million, which reflected the difference in value between the Divested Ag Business and the H&N Business, subject to certain customary inventory and net working capital adjustments. |
Business Combinations H&N Acqui
Business Combinations H&N Acquisition - Fair Value of Assets and Liabilities (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2018 | Nov. 01, 2017 | Aug. 31, 2017 | |
Business Acquisition [Line Items] | |||||||||||
Goodwill | $ 45,589 | $ 40,686 | $ 45,589 | $ 45,589 | $ 40,686 | ||||||
Successor [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 360 | 134 | $ 109 | $ 682 | $ 703 | 1,109 | 1,469 | 1,628 | |||
Goodwill | 45,589 | $ 40,686 | $ 45,589 | $ 45,589 | 40,686 | $ 45,105 | |||||
Successor [Member] | H&N Business [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 35 | $ 65 | |||||||||
Cash and Equivalents | $ 16 | ||||||||||
Accounts and Notes Receivable | 144 | ||||||||||
Inventories | 304 | ||||||||||
Property, plant and equipment | 489 | ||||||||||
Goodwill | 732 | ||||||||||
Other intangible assets | 435 | ||||||||||
Other current and non-current assets | 14 | ||||||||||
Total assets | 2,134 | ||||||||||
Accounts payable and other accrued liabilities | 72 | ||||||||||
Deferred Tax Liabilities | 92 | ||||||||||
Total Liabilities | 164 | ||||||||||
Fair value of net assets | $ 1,970 |
Business Combinations H&N Acq_2
Business Combinations H&N Acquisition Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2018 | Nov. 01, 2017 | Aug. 31, 2017 | |
Business Acquisition [Line Items] | |||||||||||
Goodwill | $ 45,589 | $ 40,686 | $ 45,589 | $ 45,589 | $ 40,686 | ||||||
Successor [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Net Sales | $ 1,735 | 5,741 | $ 5,294 | $ 8,545 | $ 6,699 | 5,318 | 7,053 | 26,279 | |||
Loss from continuing operations before income taxes | (1,586) | (4,793) | |||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 360 | 134 | $ 109 | $ 682 | $ 703 | 1,109 | 1,469 | 1,628 | |||
Goodwill | 45,589 | $ 40,686 | $ 45,589 | $ 45,589 | 40,686 | $ 45,105 | |||||
H&N Business [Member] | Successor [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Net Sales | 102 | ||||||||||
Loss from continuing operations before income taxes | (12) | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Inventory, Finished Goods | $ 143 | ||||||||||
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 | $ 65 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 489 | ||||||||||
Goodwill | 732 | ||||||||||
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] | Successor [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 356 | ||||||||||
H&N Business [Member] | Building [Member] | Successor [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] | Successor [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] | Successor [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] | Successor [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] | Successor [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] | Successor [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 37 |
Divestitures and Other Transa_3
Divestitures and Other Transactions Divestitures and Other Transactions - Narrative (Details) - USD ($) $ in Millions | Nov. 01, 2017 | Dec. 31, 2018 | Dec. 31, 2017 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Favorable Supply Agreement Intangible | $ 16,153 | $ 16,334 | |
H&N Business [Member] | Successor [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
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 | $ 475 | $ 495 | |
Supply Agreements [Member] | Successor [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 |
Divestitures and Other Transa_4
Divestitures and Other Transactions Divestitures and Other Transactions - Divested Ag Business Results of Operations (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 | [1] | Mar. 31, 2018 | Dec. 31, 2017 | [1] | Jun. 30, 2017 | [1] | Mar. 31, 2017 | [1] | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | ||||
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) | $ (5) | ||||||||||||||||
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 | ||||||||||||||||
Other Operating Charges, Discontinued Operations | [1] | |||||||||||||||||
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 (Expense) Income - Net, Discontinued Operations | [1] | (1) | ||||||||||||||||
(Loss) Income from Discontinued Operation, before Income Taxes | (127) | [1] | (10) | |||||||||||||||
(Benefit from) Provision for Income Taxes, Discontinued Operation | [1] | (50) | ||||||||||||||||
(Loss) income from discontinued operations after income taxes | $ (20) | $ 5 | $ (57) | $ (77) | [1] | $ (5) | ||||||||||||
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 | ||||||||||||||||
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] | 1,385 | |||||||||||||||
Cost of Goods Sold, Discontinued Operations | 412 | [1] | 514 | |||||||||||||||
Other Operating Charges, Discontinued Operations | 17 | [1] | 19 | |||||||||||||||
Research and Development Expense, Discontinued Operations | 95 | [1] | 139 | |||||||||||||||
Selling, General and Administrative, Discontinued Operations | 146 | [1],[2] | 176 | |||||||||||||||
Restructuring and Asset Related Charges - Net, Discontinued Operations | 0 | [1] | (4) | |||||||||||||||
Sundry (Expense) Income - Net, Discontinued Operations | 7 | [1] | 1 | |||||||||||||||
(Loss) Income from Discontinued Operation, before Income Taxes | 405 | [1] | 542 | |||||||||||||||
(Benefit from) Provision for Income Taxes, Discontinued Operation | 79 | [1] | 103 | |||||||||||||||
(Loss) income from discontinued operations after income taxes | $ 29 | $ 137 | $ 160 | $ 326 | [1] | $ 439 | ||||||||||||
[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 $44 million of transaction costs associated with the disposal of the Divested Ag Business. |
Divestitures and Other Transa_5
Divestitures and Other Transactions Divestitures and Other Transactions - Divested Ag Business Depreciation and Capital Expenditures (Details) - Divested Ag Business [Member] - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | |
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 | |
Capital Expenditures, Discontinued Operations | $ 8 | $ 40 |
Divestitures and Other Transa_6
Divestitures and Other Transactions Divestitures and Other Transactions - Food Safety Diagnostic Business (Details) - Predecessor [Member] - Food Safety Diagnostic Business [Member] - USD ($) $ in Millions | 3 Months Ended | 8 Months Ended |
Mar. 31, 2017 | Aug. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Pre-tax gain on disposal | $ 162 | $ 162 |
Gain on disposal, net of tax | $ 86 |
Divestitures and Other Transa_7
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 Transa_8
Divestitures and Other Transactions Divestitures and Other Transactions - PChem Narrative (Details) - USD ($) $ in Millions | 8 Months Ended | 12 Months Ended | |
Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 | |
Predecessor [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Separation Related Transaction Costs | $ 35 | ||
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] | |||
Loss Related to Litigation Settlement | $ 335 | ||
Loss Related To Litigation Settlement, Net Of Tax | $ 214 | ||
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 | 298 | ||
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 | $ 298 |
Divestitures and Other Transa_9
Divestitures and Other Transactions Divestitures and Other Transactions - PChem Results of Operations (Details) - Predecessor [Member] - USD ($) $ in Millions | 3 Months Ended | 8 Months Ended | 12 Months Ended | |||
Jun. 30, 2017 | [1] | Mar. 31, 2017 | [1] | Aug. 31, 2017 | Dec. 31, 2016 | |
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 | ||||
Performance Chemicals [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Other Operating Charges, Discontinued Operations | 335 | 36 | ||||
Sundry Income (Expense) - Net, Discontinued Operations | 3 | 3 | ||||
Loss from Discontinued Operation, before Income Taxes | (332) | (33) | ||||
Benefit from Income Taxes, Discontinued Operation | (125) | (28) | ||||
(Loss) income from discontinued operations after income taxes | $ 10 | $ (217) | $ (207) | $ (5) | ||
[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. |
Revenue Narrative (Details)
Revenue Narrative (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Minimum [Member] | |
Disaggregation of Revenue [Line Items] | |
Revenue, Average Payment Terms | 30 days |
Maximum [Member] | |
Disaggregation of Revenue [Line Items] | |
Revenue, Average Payment Terms | 60 days |
Agriculture [Member] | |
Disaggregation of Revenue [Line Items] | |
Revenue, Average Payment Terms | 1 year |
Revenue Contract Balances (Deta
Revenue Contract Balances (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||
Disaggregation of Revenue [Line Items] | ||||
Deferred Revenue, Revenue Recognized | $ 1,973 | |||
Accounts and notes receivable - trade | [1] | 4,130 | $ 87 | $ 3,976 |
Contract assets - current | [2] | 48 | 40 | 0 |
Accrued and Other Current Liabilities [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Deferred Revenue | [3] | 1,927 | 2 | 2,014 |
Other Noncurrent Obligations [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Deferred Revenue | [4] | $ 30 | $ 0 | $ 48 |
[1] | Included in accounts and notes receivable - net in the Consolidated Balance Sheets. | |||
[2] | Included in other current assets in the Consolidated Balance Sheets. | |||
[3] | Included in accrued and other current liabilities in the Consolidated Balance Sheets. | |||
[4] | Included in other noncurrent obligations in the Consolidated Balance Sheets. |
Revenue Disaggregation of Reven
Revenue Disaggregation of Revenue (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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |
Successor [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | $ 1,735 | $ 5,741 | $ 5,294 | $ 8,545 | $ 6,699 | $ 5,318 | $ 7,053 | $ 26,279 | |||||
Successor [Member] | Agriculture [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 1,596 | 8,995 | |||||||||||
Successor [Member] | Packaging & Specialty Plastics [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 544 | 1,579 | |||||||||||
Successor [Member] | Electronics & Imaging [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 743 | 2,097 | |||||||||||
Successor [Member] | Nutrition & Health [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 1,165 | 4,054 | |||||||||||
Successor [Member] | Industrial Biosciences [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 573 | 1,653 | |||||||||||
Successor [Member] | Transportation & Advanced Polymers [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 1,355 | 4,418 | |||||||||||
Successor [Member] | Safety & Construction [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 1,074 | 3,473 | |||||||||||
Successor [Member] | Other [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | $ 3 | $ 10 | |||||||||||
Predecessor [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | $ 2,991 | $ 6,971 | $ 7,319 | $ 17,281 | $ 23,209 | ||||||||
Predecessor [Member] | Agriculture [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 6,894 | 8,131 | |||||||||||
Predecessor [Member] | Packaging & Specialty Plastics [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 1,072 | 1,651 | |||||||||||
Predecessor [Member] | Electronics & Imaging [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 1,422 | 1,960 | |||||||||||
Predecessor [Member] | Nutrition & Health [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 2,129 | 3,268 | |||||||||||
Predecessor [Member] | Industrial Biosciences [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 1,022 | 1,500 | |||||||||||
Predecessor [Member] | Transportation & Advanced Polymers [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 2,608 | 3,599 | |||||||||||
Predecessor [Member] | Safety & Construction [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | 2,134 | 3,099 | |||||||||||
Predecessor [Member] | Other [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Net Sales | $ 0 | $ 1 |
Restructuring and Asset Relat_3
Restructuring and Asset Related Charges DowDuPont Agriculture Division Restructuring Program (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2017 | [1] | Dec. 31, 2018 | Sep. 30, 2018 | [1] | Jun. 30, 2018 | [1] | Mar. 31, 2018 | [1] | Dec. 31, 2017 | [1] | Dec. 31, 2017 | Dec. 31, 2018 | ||
DowDuPont Agriculture Division Restructuring Program [Member] | ||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||
Restructuring Reserve | $ 54 | $ 54 | ||||||||||||
Successor [Member] | ||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||
Restructuring and Asset Related Charges - Net | $ 40 | 115 | [1] | $ 182 | $ 91 | $ 97 | $ 140 | $ 180 | 485 | |||||
Successor [Member] | DowDuPont Agriculture Division Restructuring Program [Member] | ||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||
Restructuring and Related Cost, Expected Cost | 65 | 65 | ||||||||||||
Restructuring and Asset Related Charges - Net | 59 | |||||||||||||
Successor [Member] | Asset Related Charges [Member] | DowDuPont Agriculture Division Restructuring Program [Member] | ||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||
Restructuring and Related Cost, Expected Cost | 5 | 5 | ||||||||||||
Restructuring and Asset Related Charges - Net | 5 | |||||||||||||
Successor [Member] | Costs Related To Contract Termination [Member] | DowDuPont Agriculture Division Restructuring Program [Member] | ||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||
Restructuring and Related Cost, Expected Cost | 5 | 5 | ||||||||||||
Successor [Member] | Employee Severance [Member] | DowDuPont Agriculture Division Restructuring Program [Member] | ||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||
Restructuring and Related Cost, Expected Cost | $ 55 | 55 | ||||||||||||
Restructuring and Asset Related Charges - Net | $ 54 | |||||||||||||
[1] | See Note 6 for additional information. |
Restructuring and Asset Relat_4
Restructuring and Asset Related Charges DowDuPont Cost Synergy Program (Details) - Successor [Member] - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended | |||||||||||
Sep. 30, 2017 | [1] | Dec. 31, 2018 | Sep. 30, 2018 | [1] | Jun. 30, 2018 | [1] | Mar. 31, 2018 | [1] | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2018 | Nov. 01, 2017 | |||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Asset Related Charges - Net | $ 40 | $ 115 | [1] | $ 182 | $ 91 | $ 97 | $ 140 | [1] | $ 180 | $ 485 | |||||
DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Asset Related Charges - Net | 187 | 322 | |||||||||||||
Payments for Restructuring | (168) | ||||||||||||||
Asset write-offs | (63) | ||||||||||||||
Restructuring Reserve, Net Translation Adjustment | (5) | ||||||||||||||
Restructuring Reserve | 247 | 161 | 161 | 247 | |||||||||||
Employee Severance [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Asset Related Charges - Net | 153 | 219 | |||||||||||||
Payments for Restructuring | (118) | ||||||||||||||
Asset write-offs | 0 | ||||||||||||||
Restructuring Reserve, Net Translation Adjustment | (5) | ||||||||||||||
Restructuring Reserve | 229 | 133 | 133 | 229 | |||||||||||
Costs Related To Contract Termination [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Asset Related Charges - Net | 31 | 40 | |||||||||||||
Payments for Restructuring | (50) | ||||||||||||||
Asset write-offs | 0 | ||||||||||||||
Restructuring Reserve, Net Translation Adjustment | 0 | ||||||||||||||
Restructuring Reserve | 18 | 28 | 28 | 18 | |||||||||||
Asset Related Charges [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Asset Related Charges - Net | 3 | 63 | |||||||||||||
Payments for Restructuring | 0 | ||||||||||||||
Asset write-offs | (63) | ||||||||||||||
Restructuring Reserve, Net Translation Adjustment | 0 | ||||||||||||||
Restructuring Reserve | $ 0 | $ 0 | $ 0 | 0 | |||||||||||
Minimum [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Related Cost, Expected Cost | $ 575 | ||||||||||||||
Minimum [Member] | Employee Severance [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Related Cost, Expected Cost | 370 | ||||||||||||||
Minimum [Member] | Costs Related To Contract Termination [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Related Cost, Expected Cost | 80 | ||||||||||||||
Minimum [Member] | Asset Related Charges [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Related Cost, Expected Cost | 125 | ||||||||||||||
Maximum [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Related Cost, Expected Cost | 675 | ||||||||||||||
Maximum [Member] | Employee Severance [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Related Cost, Expected Cost | 400 | ||||||||||||||
Maximum [Member] | Costs Related To Contract Termination [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Related Cost, Expected Cost | 100 | ||||||||||||||
Maximum [Member] | Asset Related Charges [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Related Cost, Expected Cost | $ 175 | ||||||||||||||
Restructuring and Asset Related Charges - Net [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Asset Related Charges - Net | 318 | ||||||||||||||
Nonoperating Income (Expense) [Member] | DowDuPont Cost Synergy Program [Member] | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Restructuring and Asset Related Charges - Net | $ 4 | ||||||||||||||
[1] | See Note 6 for additional information. |
Restructuring and Asset Relat_5
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 | [1] | Dec. 31, 2018 | Sep. 30, 2018 | [1] | Jun. 30, 2018 | [1] | Mar. 31, 2018 | [1] | Dec. 31, 2017 | Jun. 30, 2017 | [1] | Mar. 31, 2017 | [1] | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |||
2017 Restructuring Program [Member] | ||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||||||||||
Restructuring Reserve | $ 4 | $ 19 | $ 19 | $ 4 | ||||||||||||||||||
Predecessor [Member] | ||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 11 | $ 160 | $ 152 | $ 323 | $ 556 | |||||||||||||||||
Predecessor [Member] | 2017 Restructuring Program [Member] | ||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 313 | |||||||||||||||||||||
Predecessor [Member] | Employee Severance [Member] | 2017 Restructuring Program [Member] | ||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 34 | |||||||||||||||||||||
Predecessor [Member] | Asset Related Charges [Member] | 2017 Restructuring Program [Member] | ||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 279 | |||||||||||||||||||||
Successor [Member] | ||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 40 | $ 115 | [1] | $ 182 | $ 91 | $ 97 | $ 140 | [1] | $ 180 | $ 485 | ||||||||||||
[1] | See Note 6 for additional information. |
Restructuring and Asset Relat_6
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] | Aug. 31, 2017 | Dec. 31, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring and Asset Related Charges - Net | $ 11 | $ 160 | $ 152 | $ 323 | $ 556 | |||
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 6 for additional information. |
Restructuring and Asset Relat_7
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 | 37 Months Ended | ||||||||||||||||
Sep. 30, 2017 | [1] | Aug. 31, 2017 | [1] | Dec. 31, 2018 | Sep. 30, 2018 | [1] | Jun. 30, 2018 | [1] | Mar. 31, 2018 | [1] | Dec. 31, 2017 | Jun. 30, 2017 | [1] | Mar. 31, 2017 | [1] | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2018 | |||
2016 Restructuring Program [Member] [Domain] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 708 | ||||||||||||||||||||||
Restructuring Reserve | $ 1 | $ 22 | $ 22 | $ 1 | $ 1 | ||||||||||||||||||
Predecessor [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 11 | $ 160 | $ 152 | $ 323 | $ 556 | ||||||||||||||||||
Predecessor [Member] | 2016 Restructuring Program [Member] [Domain] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 10 | (81) | |||||||||||||||||||||
Predecessor [Member] | 2016 Restructuring Program [Member] [Domain] | Sundry Income (Expense) - net | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 3 | ||||||||||||||||||||||
Predecessor [Member] | 2016 Restructuring Program [Member] [Domain] | Restructuring and Asset Related Charges - Net [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | (84) | ||||||||||||||||||||||
Predecessor [Member] | Employee Severance [Member] | 2016 Restructuring Program [Member] [Domain] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | (150) | ||||||||||||||||||||||
Predecessor [Member] | Asset Related Charges [Member] | 2016 Restructuring Program [Member] [Domain] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | 53 | ||||||||||||||||||||||
Predecessor [Member] | Contract Termination [Member] | 2016 Restructuring Program [Member] [Domain] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 16 | ||||||||||||||||||||||
Successor [Member] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ 40 | $ 115 | [1] | $ 182 | $ 91 | $ 97 | $ 140 | [1] | 180 | $ 485 | |||||||||||||
Successor [Member] | 2016 Restructuring Program [Member] [Domain] | |||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||
Restructuring and Asset Related Charges - Net | $ (5) | ||||||||||||||||||||||
[1] | See Note 6 for additional information. |
Restructuring and Asset Relat_8
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 | |
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) |
Restructuring and Asset Relat_9
Restructuring and Asset Related Charges Asset Impairments (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2016 | |
Predecessor [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Capitalized Computer Software, Gross | $ 435 | |
Property, Plant, and Equipment, Fair Value Disclosure | 0 | |
Asset Impairment Charges | 435 | |
In Process Research and Development [Member] | Restructuring and Asset Related Charges - Net [Member] | Successor [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 85 | |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill), After Tax | 66 | |
Trade Names [Member] | Predecessor [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Asset Impairment Charges | $ 158 | |
Equity Method Investments [Member] | Restructuring Charges [Member] | Successor [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Equity Method Investment, Other than Temporary Impairment | $ 41 |
Related Parties Dow Payables _
Related Parties Dow Payables / Receivables (Details) - Successor [Member] - Dow [Member] - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Related Party Transaction [Line Items] | ||
Accounts and notes receivable - net | $ 201 | $ 12 |
Accounts payable | $ 288 | $ 26 |
Related Parties Dow Revenue _ E
Related Parties Dow Revenue / Expenses (Details) - Successor [Member] - Dow [Member] - USD ($) $ in Millions | 4 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Dec. 31, 2018 | |
Related Party Transaction [Line Items] | ||
Revenue | $ 20 | $ 261 |
Cost of goods sold | $ 20 | $ 224 |
Related Parties Narrative (Deta
Related Parties Narrative (Details) - USD ($) $ in Millions | 4 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2018 | Nov. 02, 2017 | |
DowDuPont [Member] | |||
Related Party Transaction [Line Items] | |||
Accounts payable | $ 354 | $ 103 | |
Successor [Member] | |||
Related Party Transaction [Line Items] | |||
Distributions to DowDuPont | 829 | 2,806 | |
Successor [Member] | Dow [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Purchases from Related Party | 49 | 320 | |
Related Party Transaction, Transfers at Cost from Related Party | 343 | ||
Accounts payable | 26 | 288 | |
Successor [Member] | DowDuPont [Member] | |||
Related Party Transaction [Line Items] | |||
Distributions to DowDuPont | $ 829 | $ 2,806 | |
2017 Share Repurchase Program [Member] | Successor [Member] | |||
Related Party Transaction [Line Items] | |||
Stock Repurchase Program, Authorized Amount | $ 4,000 |
Supplementary Information Sundr
Supplementary Information Sundry Income (Expense) - Net (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, 2018 | Dec. 31, 2016 | ||||
Successor [Member] | ||||||||
Schedule of Sundry Income (Expense) - Net [Line Items] | ||||||||
Royalty Income | $ 60 | $ 170 | ||||||
Interest income | 41 | 92 | ||||||
Equity in earnings of affiliates - net | 1 | 51 | ||||||
Net gain on sales of businesses and other assets | 16 | 26 | ||||||
Net exchange (losses) gains | 8 | (110) | ||||||
Non-operating pension and other post employment benefit credit (cost) | [1] | 134 | 368 | |||||
Miscellaneous income and expenses, net | [2] | 24 | 116 | |||||
Sundry income (expense) - net | $ 224 | $ 543 | ||||||
Predecessor [Member] | ||||||||
Schedule of Sundry Income (Expense) - Net [Line Items] | ||||||||
Royalty Income | $ 84 | $ 170 | ||||||
Interest income | 83 | 102 | ||||||
Equity in earnings of affiliates - net | 55 | 99 | ||||||
Net gain on sales of businesses and other assets | 205 | [3] | 435 | [4] | ||||
Net exchange (losses) gains | (394) | (106) | ||||||
Non-operating pension and other post employment benefit credit (cost) | [1] | (278) | (40) | |||||
Miscellaneous income and expenses, net | [2] | 132 | 7 | |||||
Sundry income (expense) - net | (113) | 667 | ||||||
Food Safety Diagnostic Business [Member] | Predecessor [Member] | ||||||||
Schedule of Sundry Income (Expense) - Net [Line Items] | ||||||||
Pre-tax gain on disposal | $ 162 | 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] | Includes non-service components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized (gain) loss, amortization of prior service benefit and curtailment/settlement gain). See Note 2 for discussion of ASU No. 2017-07. | |||||||
[2] | Miscellaneous income and expenses - net, includes interest items (in the Predecessor periods only), gains (losses) on available for sale securities, gains related to litigation settlements, licensing income, gains on purchases, and other items. | |||||||
[3] | 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. | |||||||
[4] | Includes a pre-tax gain of $369 million ($214 million net of tax) for the year ended December 31, 2016 related to the sale of Historical DuPont (Shenzhen) Manufacturing Limited. See Note 4 for additional information. |
Supplementary Information Forei
Supplementary Information Foreign Currency Exchange Gain (Loss) (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | ||
Successor [Member] | |||||
Foreign Currency Exchange Gain (Loss) [Line Items] | |||||
Foreign Currency Transaction Gain (Loss), before Tax | $ 8 | $ (110) | |||
Foreign Currency Transaction Gain (Loss) Tax | (36) | (2) | |||
Foreign Currency Transaction Gain (Loss) After Tax | (28) | (112) | |||
Predecessor [Member] | |||||
Foreign Currency Exchange Gain (Loss) [Line Items] | |||||
Foreign Currency Transaction Gain (Loss), before Tax | $ (394) | $ (106) | |||
Foreign Currency Transaction Gain (Loss) Tax | 372 | (16) | |||
Foreign Currency Transaction Gain (Loss) After Tax | (22) | (122) | |||
Subsidiary Monetary Position | Successor [Member] | |||||
Foreign Currency Exchange Gain (Loss) [Line Items] | |||||
Foreign Currency Transaction Gain (Loss), before Tax | (83) | (204) | [1] | ||
Foreign Currency Transaction Gain (Loss) Tax | (3) | 19 | |||
Foreign Currency Transaction Gain (Loss) After Tax | (86) | (185) | |||
Subsidiary Monetary Position | Predecessor [Member] | |||||
Foreign Currency Exchange Gain (Loss) [Line Items] | |||||
Foreign Currency Transaction Gain (Loss), before Tax | 37 | 198 | |||
Foreign Currency Transaction Gain (Loss) Tax | 217 | (126) | |||
Foreign Currency Transaction Gain (Loss) After Tax | 254 | 72 | |||
Hedging Program [Member] | Successor [Member] | |||||
Foreign Currency Exchange Gain (Loss) [Line Items] | |||||
Foreign Currency Transaction Gain (Loss), before Tax | 91 | 94 | [2] | ||
Foreign Currency Transaction Gain (Loss) Tax | (33) | (21) | |||
Foreign Currency Transaction Gain (Loss) After Tax | $ 58 | 73 | |||
Hedging Program [Member] | Predecessor [Member] | |||||
Foreign Currency Exchange Gain (Loss) [Line Items] | |||||
Foreign Currency Transaction Gain (Loss), before Tax | (431) | (304) | |||
Foreign Currency Transaction Gain (Loss) Tax | 155 | 110 | |||
Foreign Currency Transaction Gain (Loss) After Tax | $ (276) | $ (194) | |||
Tax Reform Foreign Currency Exchange Impact [Member] | Hedging Program [Member] | Successor [Member] | |||||
Foreign Currency Exchange Gain (Loss) [Line Items] | |||||
Foreign Currency Transaction Gain (Loss), before Tax | 50 | ||||
Argentina, Pesos | Hedging Program [Member] | Successor [Member] | |||||
Foreign Currency Exchange Gain (Loss) [Line Items] | |||||
Foreign Currency Transaction Gain (Loss), before Tax | $ 75 | ||||
[1] | Includes a net $75 million pre-tax exchange loss associated with the devaluation of the Argentine peso for the twelve months ended December 31, 2018. | ||||
[2] | Includes a $50 million foreign exchange loss for the twelve months ended December 31, 2018 related to adjustments to foreign currency exchange contracts as a result of U.S. tax reform. |
Supplementary Information Suppl
Supplementary Information Supplementary Information (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Accrued and other current liabilities | $ 4,233 | $ 4,384 | ||
Accrued and Other Current Liabilities [Member] | ||||
Deferred Revenue | [1] | 1,927 | $ 2 | 2,014 |
Compensation and other employee-related costs | $ 662 | $ 857 | ||
[1] | Included in accrued and other current liabilities in the Consolidated Balance Sheets. |
Supplementary Information Recon
Supplementary Information Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Cash and Cash Equivalents | $ 4,466 | $ 7,250 |
Cash, Cash Equivalents, and Restricted Cash | 4,966 | 7,808 |
Other Current Assets [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted Cash | $ 500 | $ 558 |
Income Taxes Income Taxes - Nar
Income Taxes Income Taxes - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | 16 Months Ended | ||||||||||
Sep. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2018 | ||||
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 | $ 39 | $ 2,755 | ||||||||||||||
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Transition Tax for Accumulated Foreign Earnings, Provisional Income Tax Expense | 715 | 144 | 859 | ||||||||||||||
Tax Cuts and Jobs Act of 2017, Indirect Impact on Inventory, Income Tax Expense | 16 | ||||||||||||||||
Goodwill Impairment Charge | $ 4,503 | [1] | 0 | 4,503 | |||||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ 360 | $ 134 | 109 | $ 682 | $ 703 | $ 1,109 | 1,469 | 1,628 | |||||||||
Integration and Separation Costs | $ 71 | [2] | 449 | $ 344 | $ 327 | $ 255 | 243 | [2] | 314 | 1,375 | |||||||
Undistributed Earnings of Foreign Subsidiaries | $ 15,565 | $ 15,408 | $ 15,408 | 15,565 | $ 15,565 | ||||||||||||
Successor [Member] | Domestic | |||||||||||||||||
Operating Loss Carryforwards [Line Items] | |||||||||||||||||
Goodwill Impairment Charge | 3,193 | ||||||||||||||||
Successor [Member] | Foreign | |||||||||||||||||
Operating Loss Carryforwards [Line Items] | |||||||||||||||||
Goodwill Impairment Charge | 1,310 | ||||||||||||||||
Predecessor [Member] | |||||||||||||||||
Operating Loss Carryforwards [Line Items] | |||||||||||||||||
Goodwill Impairment Charge | $ 0 | $ 0 | |||||||||||||||
Integration and Separation Costs | $ 210 | $ 201 | $ 170 | $ 581 | $ 386 | ||||||||||||
Pension Resize [Member] | Successor [Member] | |||||||||||||||||
Operating Loss Carryforwards [Line Items] | |||||||||||||||||
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Change in Tax Rate, Provisional Income Tax Benefit (Expense) | 114 | ||||||||||||||||
Repatriation Accrual [Member] | Successor [Member] | |||||||||||||||||
Operating Loss Carryforwards [Line Items] | |||||||||||||||||
Other Tax Expense | $ 74 | ||||||||||||||||
[1] | See Note 14 for additional information | ||||||||||||||||
[2] | Integration and separation costs were $170 million, $201 million, and $210 million in the first quarter 2017, second quarter 2017, and the period July 1 - August 31, 2017, respectively. In the Predecessor periods, costs are recorded in selling, general and administrative expenses. See Note 3 for additional information. |
Income Taxes Income Taxes - Geo
Income Taxes Income Taxes - Geographic Allocation of Income and Provision for Income Taxes (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||||||||||||
Sep. 30, 2017 | [1] | Aug. 31, 2017 | [1] | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | [2] | Dec. 31, 2017 | [1] | Jun. 30, 2017 | [1] | Mar. 31, 2017 | [1] | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |
Successor [Member] | |||||||||||||||||||
(Loss) Income from continuing operations before income taxes | $ (1,586) | $ (4,793) | |||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | (2,673) | 220 | |||||||||||||||||
Net (loss) income from continuing operations | $ (295) | $ (351) | $ (4,960) | $ 514 | $ (221) | $ 1,305 | 1,010 | (5,018) | |||||||||||
Predecessor [Member] | |||||||||||||||||||
(Loss) Income from continuing operations before income taxes | $ 1,791 | $ 2,723 | |||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | 149 | 641 | |||||||||||||||||
Net (loss) income from continuing operations | $ (229) | $ 869 | $ 1,121 | 1,761 | 2,525 | ||||||||||||||
Continuing Operations [Member] | Successor [Member] | |||||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes, Domestic | (811) | (4,496) | |||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes, Foreign | (775) | (297) | |||||||||||||||||
(Loss) Income from continuing operations before income taxes | (1,586) | (4,793) | |||||||||||||||||
Current Federal Tax (Benefit) Expense | 216 | (333) | |||||||||||||||||
Current State and Local Tax Expense (Benefit) | 22 | 5 | |||||||||||||||||
Current Foreign Tax Expense | 187 | 453 | |||||||||||||||||
Total current tax expense (benefit) | 425 | 125 | |||||||||||||||||
Deferred Federal Income Tax Expense (Benefit) | (2,790) | 162 | |||||||||||||||||
Deferred State and Local Income Tax Benefit | (48) | (29) | |||||||||||||||||
Deferred Foreign Income Tax (Benefit) Expense | (260) | (38) | |||||||||||||||||
Total deferred tax expense (benefit) | (3,098) | 95 | |||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | (2,673) | 220 | |||||||||||||||||
Net (loss) income from continuing operations | $ 1,087 | $ (5,013) | |||||||||||||||||
Continuing Operations [Member] | Predecessor [Member] | |||||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes, Domestic | 409 | 1,415 | |||||||||||||||||
(Loss) Income from Continuing Operations before Income Taxes, Foreign | 1,382 | 1,308 | |||||||||||||||||
(Loss) Income from continuing operations before income taxes | 1,791 | 2,723 | |||||||||||||||||
Current Federal Tax (Benefit) Expense | (563) | 4 | |||||||||||||||||
Current State and Local Tax Expense (Benefit) | (11) | 9 | |||||||||||||||||
Current Foreign Tax Expense | 282 | 539 | |||||||||||||||||
Total current tax expense (benefit) | (292) | 552 | |||||||||||||||||
Deferred Federal Income Tax Expense (Benefit) | 476 | 22 | |||||||||||||||||
Deferred State and Local Income Tax Benefit | (8) | (29) | |||||||||||||||||
Deferred Foreign Income Tax (Benefit) Expense | (27) | 96 | |||||||||||||||||
Total deferred tax expense (benefit) | 441 | 89 | |||||||||||||||||
Provision for (benefit from) income taxes on continuing operations | 149 | 641 | |||||||||||||||||
Net (loss) income from continuing operations | $ 1,642 | $ 2,082 | |||||||||||||||||
[1] | Includes income (loss) from discontinued operations after taxes primarily related to the Divested Ag Business of $160 million, $137 million, $29 million, $(20) million, and $(57) million, in the first quarter 2017, second quarter 2017, the period July 1 - August 31, 2017, the period September 1 - September 30, 2017, and fourth quarter 2017, respectively. Additionally, includes income (loss) from discontinued operations after taxes primarily related to Chemours of $(217) million and $10 million, in the first quarter 2017 and second quarter 2017, respectively. See Note 4 for additional information. | ||||||||||||||||||
[2] | Includes loss from discontinued operations after taxes related to the Divested Ag Business of $(5) million in the first quarter 2018. See Note 4 for additional information. |
Income Taxes Income Taxes - Rec
Income Taxes Income Taxes - Reconciliation to US Statutory Rate (Details) - USD ($) $ in Millions | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||||
Sep. 30, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | ||||
Successor [Member] | |||||||||
Statutory U.S. federal income tax rate | 35.00% | 21.00% | |||||||
Equity earning effect | 0.90% | 0.20% | |||||||
Effective tax rates on international operations - net | (9.50%) | 0.50% | |||||||
Acquisitions, divestitures, and ownership restructuring activities | [1],[2] | 15.80% | (1.60%) | [3] | |||||
U.S. research and development credit | 0.40% | 0.60% | |||||||
Exchange gains/losses | [4] | (1.80%) | (0.50%) | ||||||
SAB 118 Impact of Enactment of U.S. Tax Reform | 126.10% | (2.50%) | [5] | ||||||
Excess tax benefits from stock-compensation | 0.10% | 0.10% | |||||||
Tax settlements and expiration of statue of limitations | 0.00% | 0.20% | |||||||
Goodwill impairment | [6] | (21.40%) | |||||||
Other, net | 1.50% | (1.20%) | |||||||
Effective Income Tax Rate | 168.50% | (4.60%) | |||||||
Successor [Member] | Repatriation Accrual [Member] | |||||||||
Other Tax Expense | $ 74 | ||||||||
Successor [Member] | Tax charge (benefit) related to The Act [Member] | |||||||||
Other Tax Expense | 121 | ||||||||
Successor [Member] | Brazil Valuation Allowance [Member] | |||||||||
Other Tax Expense | $ (75) | 75 | |||||||
Predecessor [Member] | |||||||||
Statutory U.S. federal income tax rate | 35.00% | 35.00% | |||||||
Equity earning effect | (0.50%) | (0.80%) | |||||||
Effective tax rates on international operations - net | (11.40%) | (9.20%) | |||||||
Acquisitions, divestitures, and ownership restructuring activities | [2] | 5.20% | 1.90% | ||||||
U.S. research and development credit | (0.80%) | (0.70%) | |||||||
Exchange gains/losses | [4] | (12.90%) | 1.90% | ||||||
Excess tax benefits from stock-compensation | [7] | (1.70%) | |||||||
Tax settlements and expiration of statue of limitations | (3.80%) | [8] | (1.10%) | ||||||
Other, net | (0.80%) | (3.50%) | |||||||
Effective Income Tax Rate | 8.30% | 23.50% | |||||||
Continuing Operations [Member] | Successor [Member] | |||||||||
(Charge) Benefit related to internal legal entity restructuring | $ 261 | $ (25) | |||||||
Continuing Operations [Member] | Predecessor [Member] | |||||||||
Tax benefit related to reduction in company's unrecognized tax benefits | $ 53 | $ 53 | |||||||
[1] | Includes a net tax charge of $25 million and a net tax benefit of $261 million for the year ended December 31, 2018 and the period September 1 through December 31, 2017, respectively, related to an internal legal entity restructuring associated with the Intended Business Separations. | ||||||||
[2] | See Notes 3 and 4 for additional information. | ||||||||
[3] | Includes a net tax charge of $74 million related to repatriation activities to facilitate the Intended Business Separations for the year ended December 31, 2018. | ||||||||
[4] | 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 8 and Note 20 under the heading Foreign Currency Risk. | ||||||||
[5] | Reflects a net tax charge of $121 million associated with the company's completion of the accounting for the tax effects of The Act for the year ended December 31, 2018. | ||||||||
[6] | Reflects the impact of the non-tax-deductible impairment charge for the agriculture reporting unit and corresponding $75 million tax charge associated with a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil for the year ended December 31, 2018. | ||||||||
[7] | Reflects the impact of the adoption of ASU 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting, which was adopted January 1, 2017 and resulted in the recognition of excess tax benefits related to equity compensation in the (benefit from) provision for income taxes on continuing operations. | ||||||||
[8] | The period January 1 through August 31, 2017 includes a tax benefit of $53 million for accrued interest reversals (recorded in sundry income (expense) - net). |
Income Taxes Income Taxes - Def
Income Taxes Income Taxes - Deferred Tax Balances (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | ||||
Assets | ||||||||
Deferred Tax Assets, Tax Loss And Tax Credit Carryforwards | $ 1,390 | $ 1,452 | ||||||
Deferred Tax Assets, Accrued Employee Benefits | 1,802 | 1,988 | ||||||
Deferred Tax Assets, Other Accruals and Reversals | 323 | 333 | ||||||
Deferred Tax Assets, Intangible Assets | 320 | 284 | ||||||
Deferred Tax Assets, Inventory | 129 | 130 | ||||||
Deferred Tax Assets, Long-Term Debt | 24 | 109 | ||||||
Deferred Tax Assets, Investments | 114 | 23 | ||||||
Deferred Tax Assets, Other | 280 | 260 | ||||||
Deferred Tax Assets, Gross | 4,382 | 4,579 | ||||||
Deferred Tax Assets, Valuation Allowance | [2] | (1,087) | [1] | (1,140) | [3] | |||
Deferred Tax Assets, Net of Valuation Allowance | 3,295 | 3,439 | ||||||
Liabilities | ||||||||
Deferred Tax Liabilities, Property | 1,043 | 1,160 | ||||||
Deferred Tax Liabilities, Accrued Employee Benefits | 169 | 68 | ||||||
Deferred Tax Liabilities, Other Accruals and Reversals | 51 | 39 | ||||||
Deferred Tax Liabilities, Intangible Assets | 5,876 | 6,286 | ||||||
Deferred Tax Liabilities, Inventory | 371 | 597 | ||||||
Deferred Tax Liabilities, Investments | 581 | 453 | ||||||
Deferred Tax Liabilities, Unrealized Exchange Gains/Losses | 141 | 71 | ||||||
Deferred Tax Liabilities, Other | 141 | 121 | ||||||
Deferred Tax Liabilities, Gross | 8,373 | 8,795 | ||||||
Net Deferred Tax Liability | (5,078) | (5,356) | ||||||
Change in Tax Loss and Credit Carryforwards, Prior Period Restatement | 238 | $ 163 | $ 163 | |||||
Change in Valuation Allowance, Prior Period Restatement | $ 238 | $ 163 | $ 163 | |||||
Successor [Member] | Brazil Valuation Allowance [Member] | ||||||||
Liabilities | ||||||||
Other Tax Expense | $ (75) | $ 75 | ||||||
[1] | During the year ended December 31, 2018, the company established a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil due to revised financial projections, resulting in tax expense of $75 million. See Note 14 for additional information. | |||||||
[2] | Primarily related to the realization of recorded tax benefits on tax loss carryforwards from operations in the United States, Brazil, and Luxembourg. | |||||||
[3] | $238 million as a result of a change in the Delaware state apportionment methodology. |
Income Taxes Income Taxes - Ope
Income Taxes Income Taxes - Operating Loss and Tax Credit Carryforwards (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | $ 1,213 | $ 1,287 |
Deferred Tax Assets, Tax Credit Carryforwards | 177 | 165 |
Total Operating Loss and Tax Credit Carryforwards | 1,390 | 1,452 |
Expiring within Five Years [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | 76 | 42 |
Deferred Tax Assets, Tax Credit Carryforwards | 8 | 10 |
Expiring After Five Years Or Having Indefinite Expiration [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | 1,137 | 1,245 |
Deferred Tax Assets, Tax Credit Carryforwards | $ 169 | $ 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, 2018 | Dec. 31, 2016 | |
Successor [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Unrecognized Tax Benefits, Beginning Balance | $ 709 | $ 741 | ||
Decreases related to positions taken on items from prior years | (2) | (44) | ||
Increases related to positions taken on items from prior years | 9 | 74 | ||
Increases related to positions taken in the current year | 28 | 9 | ||
Settlement of uncertain tax positions with tax authorities | 1 | (13) | ||
Decreases due to expiration of statutes of limitations | (5) | (5) | ||
Exchange (gain) loss | 1 | (13) | ||
Unrecognized Tax Benefits, Ending Balance | 741 | $ 709 | 749 | |
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate | 253 | 157 | ||
Total amount of interest and penalties (benefit) recognized in Provision for income taxes on continuing operations | 1 | 11 | ||
Total accrual for interest and penalties associated with unrecognized tax benefits | 47 | $ 45 | ||
Predecessor [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Unrecognized Tax Benefits, Beginning Balance | $ 538 | 596 | $ 906 | |
Decreases related to positions taken on items from prior years | (19) | (46) | ||
Increases related to positions taken on items from prior years | 3 | 33 | ||
Increases related to positions taken in the current year | 49 | 55 | ||
Settlement of uncertain tax positions with tax authorities | (6) | (314) | ||
Decreases due to expiration of statutes of limitations | (86) | (41) | ||
Exchange (gain) loss | 1 | 3 | ||
Unrecognized Tax Benefits, Ending Balance | 538 | 596 | ||
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate | 188 | 253 | ||
Total amount of interest and penalties (benefit) recognized in Provision for income taxes on continuing operations | (27) | 10 | ||
Total accrual for interest and penalties associated with unrecognized tax benefits | $ 40 | $ 98 |
Earnings Per Share of Common _3
Earnings Per Share of Common Stock Earnings Per Share Reconciliation (Details) - USD ($) $ in Millions | Aug. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 |
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 | |
Preferred Dividends | (7) | (10) | |
Income from continuing operations after income taxes available to DuPont common stockholders | 1,617 | 2,062 | |
Income from Discontinued Operations after income taxes available to DuPont common stockholders | 117 | 441 | |
Net Income Available to Common Stockholders | $ 1,734 | $ 2,503 | |
Weighted Average Number of Shares Outstanding, Basic | 867,888,000 | 872,560,000 | |
Dilutive effect of the company's employee compensation plans | 4,532,000 | 4,476,000 | |
Weighted Average Number of Shares Outstanding, Diluted | 872,420,000 | 877,036,000 | |
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 |
Earnings Per Share of Common _4
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 | |
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 |
Accounts and Notes Receivable_3
Accounts and Notes Receivable, Net (Schedule of Accounts and Notes Receivable, Net) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounts and Notes Receivable, Net [Line Items] | |||
Accounts receivable - trade | [1] | $ 3,912 | $ 3,777 |
Notes receivable - trade | [2] | 218 | 199 |
Other | [3] | 1,404 | 1,263 |
Total accounts and notes receivable - net | 5,534 | 5,239 | |
Accounts and notes receivable - trade, allowance | $ 85 | $ 10 | |
[1] | Accounts receivable – trade is net of allowances of $85 million at December 31, 2018 and $10 million at December 31, 2017. Allowances are equal to the estimated uncollectible amounts. That estimate is based on historical collection experience, current economic and market conditions, and review of the current status of customers' accounts. | ||
[2] | Notes receivable – trade primarily consists of receivables within the agriculture product line for deferred payment loan programs for the sale of seed products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2018 and 2017, there were no significant past due notes receivable which required a reserve, nor were there any significant impairments related to current loan agreements. | ||
[3] | Other includes receivables in relation to value added tax, fair value of derivative instruments, indemnification assets, related parties (see Note 7 for further information), and general sales tax and other taxes. No individual group represents more than ten percent of total receivables. |
Inventories Schedule of Invento
Inventories Schedule of Inventory (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Inventory [Line Items] | ||
Finished products | $ 4,204 | $ 4,500 |
Semi-finished products | 1,769 | 2,769 |
Raw materials | 481 | 371 |
Stores and supplies | 441 | 447 |
Total | 6,895 | 8,087 |
Adjustment of inventories to a LIFO basis | 512 | 546 |
Total inventories | $ 7,407 | $ 8,633 |
Inventories Narrative (Details)
Inventories Narrative (Details) - Successor [Member] - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended | |||||
Sep. 30, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2018 | Sep. 01, 2017 | |
Inventory [Line Items] | |||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ (360) | $ (134) | $ (109) | $ (682) | $ (703) | $ (1,109) | $ (1,469) | $ (1,628) | |
Merger with Dow [Member] | |||||||||
Inventory [Line Items] | |||||||||
Business Combination, Fair Value Step Up Of Acquired Inventory | $ 3,840 | ||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory, Amount recognized in Cost of Goods sold | $ (1,434) | $ (1,563) |
Property, Plant and Equipment_2
Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2018 | |
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 |
Property, Plant and Equipment S
Property, Plant and Equipment Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 13,906 | $ 12,878 |
Accumulated Depreciation | (1,720) | (443) |
Property, Plant and Equipment, Net | 12,186 | 12,435 |
Land and Land Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 915 | 913 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 2,656 | 2,747 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 8,731 | 8,104 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 1,604 | $ 1,114 |
Property, Plant and Equipment_3
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, 2018 | Dec. 31, 2016 | |
Successor [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 426 | $ 1,308 | ||
Predecessor [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 589 | $ 907 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets Goodwill (Details) - USD ($) $ in Millions | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | [1] | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |
Goodwill [Line Items] | ||||||
Goodwill, Beginning Balance | $ 45,589 | |||||
Goodwill, Ending Balance | $ 45,589 | 40,686 | ||||
Merger with Dow [Member] | ||||||
Goodwill [Line Items] | ||||||
Goodwill, Beginning Balance | 45,497 | |||||
Goodwill, Measurement Period Adjustments | 392 | |||||
Goodwill, Ending Balance | $ 45,497 | |||||
Predecessor [Member] | ||||||
Goodwill [Line Items] | ||||||
Goodwill, Beginning Balance | 4,543 | 4,169 | ||||
Currency Translation Adjustment | 176 | |||||
Other Goodwill Adjustments and Acquisitions | 198 | |||||
Goodwill Impairment Charge | 0 | $ 0 | ||||
Goodwill, Ending Balance | 4,543 | $ 4,169 | ||||
Successor [Member] | ||||||
Goodwill [Line Items] | ||||||
Goodwill, Beginning Balance | 45,105 | 45,589 | ||||
Currency Translation Adjustment | (234) | (806) | ||||
Goodwill Impairment Charge | $ (4,503) | 0 | (4,503) | |||
Goodwill, Ending Balance | 45,589 | $ 45,105 | 40,686 | |||
Successor [Member] | H&N Business [Member] | ||||||
Goodwill [Line Items] | ||||||
Goodwill Recognized for H&N Acquisition | $ 718 | |||||
Goodwill, Measurement Period Adjustments | 14 | |||||
Successor [Member] | Merger with Dow [Member] | ||||||
Goodwill [Line Items] | ||||||
Goodwill, Measurement Period Adjustments | $ 392 | |||||
[1] | See Note 14 for additional information |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets Narrative (Details) - Successor [Member] - USD ($) $ in Millions | 3 Months Ended | 4 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | [1] | Dec. 31, 2017 | Dec. 31, 2018 | |
Indefinite-lived Intangible Assets [Line Items] | ||||
Goodwill Impairment Charge | $ 4,503 | $ 0 | $ 4,503 | |
Restructuring and Asset Related Charges - Net [Member] | In Process Research and Development [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 85 | |||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill), After Tax | $ 66 | |||
[1] | See Note 14 for additional information |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets Other Intangible Assets (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | $ 16,153 | $ 16,334 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (1,651) | (389) | ||
Finite-Lived Intangible Assets, Net | 14,502 | 15,945 | ||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 11,551 | 11,781 | ||
Intangible Assets, Gross (Excluding Goodwill) | 27,704 | 28,115 | ||
Total other intangible assets | 26,053 | 27,726 | ||
In Process Research and Development [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 545 | [1] | 660 | |
Germplasm [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Indefinite-lived Intangible Assets (Excluding Goodwill) | [2] | 6,265 | 6,265 | |
Trademarks and Trade Names [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 4,741 | 4,856 | ||
Customer-Related Intangible Assets [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 9,325 | 9,502 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (744) | (186) | ||
Finite-Lived Intangible Assets, Net | 8,581 | 9,316 | ||
Developed Technology Rights [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 4,506 | 4,364 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (628) | (144) | ||
Finite-Lived Intangible Assets, Net | 3,878 | 4,220 | ||
Trademarks and Trade Names [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 1,084 | 1,117 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (114) | (26) | ||
Finite-Lived Intangible Assets, Net | 970 | 1,091 | ||
Favorable Supply Contract [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 475 | 495 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (111) | (17) | ||
Finite-Lived Intangible Assets, Net | 364 | 478 | ||
Microbial Cell Factories [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 386 | 397 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (22) | (6) | ||
Finite-Lived Intangible Assets, Net | 364 | 391 | ||
Other Intangible Assets [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | [3] | 377 | 459 | |
Finite-Lived Intangible Assets, Accumulated Amortization | [3] | (32) | (10) | |
Finite-Lived Intangible Assets, Net | [3] | $ 345 | $ 449 | |
[1] | Refer to discussion of impairment analysis above. | |||
[2] | Germplasm is the pool of genetic source material and body of knowledge gained from the development and delivery stage of plant breeding. 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. | |||
[3] | Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements. |
Goodwill and Other Intangible_6
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] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 27,071 |
Finite-lived Intangible Assets Acquired | 15,360 |
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 | 4,788 |
Customer-Related Intangible Assets [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Finite-lived Intangible Assets Acquired | $ 9,215 |
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 | $ 1,045 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 16 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 | $ 461 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 17 years |
Goodwill and Other Intangible_7
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, 2018 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Pre-tax amortization expense, 2019 | $ 1,228 | |||
Pre-tax amortization expense, 2020 | 1,211 | |||
Pre-tax amortization expense, 2021 | 1,199 | |||
Pre-tax amortization expense, 2022 | 1,182 | |||
Pre-tax amortization expense, 2023 | 1,078 | |||
Successor [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization expense | $ 389 | $ 1,281 | ||
Predecessor [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization expense | $ 139 | $ 319 |
Short-Term Borrowings, Long-T_3
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Short-Term Borrowings (Narrative) (Details) - Successor [Member] - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Short-term Debt [Line Items] | ||
Line Of Credit Facility, Remaining Borrowing Capacity, Uncommitted Amount | $ 663 | |
Letters of Credit Outstanding, Amount | $ 172 | |
Short-term Debt, Weighted Average Interest Rate | 3.00% | 1.80% |
Fair Value, Inputs, Level 2 [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Debt, Fair Value | $ 2,160 | $ 2,780 |
Short-Term Borrowings, Long-T_4
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Short-Term Borrowings and Capital Lease Obligations (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Short-term Debt [Line Items] | |||
Long-term debt payable within one year | $ 268 | $ 1,314 | |
Total short-term borrowings and capital lease obligations | 2,160 | 2,779 | |
Commercial Paper [Member] | |||
Short-term Debt [Line Items] | |||
Short-term Debt | 1,847 | 1,436 | |
Other loans - various currencies [Member] | |||
Short-term Debt [Line Items] | |||
Short-term Debt | 16 | 28 | |
Successor [Member] | |||
Short-term Debt [Line Items] | |||
Long-term debt payable within one year | [1] | 268 | 1,314 |
Capital lease obligations payable within one year | $ 29 | $ 1 | |
[1] | See discussion of debt extinguishment that follows. |
Short-Term Borrowings, Long-T_5
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Long Term Debt (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | |||
Long-term debt payable within one year | $ 268 | $ 1,314 | |
Long-term Debt and Capital Lease Obligations | 5,812 | 10,291 | |
Successor [Member] | |||
Debt Instrument [Line Items] | |||
Capital Lease Obligations, Noncurrent | 88 | 4 | |
Unamortized debt discount and issuance costs | 2 | 0 | |
Long-term debt payable within one year | [1] | 268 | 1,314 |
Loans Payable [Member] | Successor [Member] | Final Maturity 2018 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 0 | $ 1,280 |
Long-term Debt, Weighted Average Interest Rate | [1] | 0.00% | 1.59% |
Loans Payable [Member] | Successor [Member] | Final Maturity 2019 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 263 | $ 521 |
Long-term Debt, Weighted Average Interest Rate | [1] | 2.23% | 2.23% |
Loans Payable [Member] | Successor [Member] | Final Maturity 2020 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 2,496 | $ 3,070 |
Long-term Debt, Weighted Average Interest Rate | [1] | 2.14% | 1.79% |
Loans Payable [Member] | Successor [Member] | Final Maturity 2021 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 475 | $ 1,580 |
Long-term Debt, Weighted Average Interest Rate | [1] | 2.08% | 2.07% |
Loans Payable [Member] | Successor [Member] | Final Maturity 2023 | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 386 | $ 1,269 |
Long-term Debt, Weighted Average Interest Rate | [1] | 2.48% | 2.48% |
Loans Payable [Member] | Successor [Member] | Final Maturity 2024 and thereafter | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | $ 249 | $ 2,223 |
Long-term Debt, Weighted Average Interest Rate | [1] | 3.69% | 3.80% |
Loans Payable [Member] | Successor [Member] | Term Loan Facility due 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [2] | $ 1,500 | |
Long-term Debt, Weighted Average Interest Rate | [2] | 2.35% | |
Loans Payable [Member] | Successor [Member] | Term Loan Facility due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [2] | $ 2,000 | |
Long-term Debt, Weighted Average Interest Rate | [2] | 3.46% | |
Loans Payable [Member] | Successor [Member] | Other Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 15 | $ 18 | |
Long-term Debt, Weighted Average Interest Rate | 4.32% | 4.32% | |
Loans Payable [Member] | Successor [Member] | Foreign Currency Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 0 | $ 30 | |
Long-term Debt, Weighted Average Interest Rate | 0.00% | 2.85% | |
Medium-term Notes [Member] | Successor [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 110 | $ 110 | |
Long-term Debt, Weighted Average Interest Rate | 2.37% | 1.22% | |
Fair Value, Inputs, Level 2 [Member] | Successor [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Fair Value | $ 5,800 | $ 10,250 | |
[1] | See discussion of debt extinguishment that follows. | ||
[2] | The Term Loan Facility was amended in 2018 to extend the maturity date to June 2020. |
Short-Term Borrowings, Long-T_6
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Maturities of Long-Term Debt (Details) - Successor [Member] $ in Millions | Dec. 31, 2018USD ($) | [1] |
Debt Instrument [Line Items] | ||
Repayments of Principal 2019 | $ 295 | |
Repayments of Principal 2020 | 4,504 | |
Repayments of Principal 2021 | 484 | |
Repayments of Principal 2022 | 17 | |
Repayments of Principal 2023 | $ 392 | |
[1] | Excludes unamortized debt step-up premium. |
Short-Term Borrowings, Long-T_7
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Committed and Available Credit Facilities (Details) - USD ($) $ in Millions | 36 Months Ended | ||
Mar. 22, 2019 | Dec. 31, 2018 | Mar. 22, 2016 | |
Revolving Credit Facility [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,000 | ||
Term Loan Facility due 2020 [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 4,500 | ||
Line of Credit Facility, Remaining Borrowing Capacity | 2,500 | ||
Successor [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 7,500 | ||
Line of Credit Facility, Remaining Borrowing Capacity | 5,456 | ||
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 | 2,956 | ||
Successor [Member] | Term Loan Facility due 2020 [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 4,500 | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 2,500 | ||
Scenario, Forecast [Member] | Term Loan Facility due 2020 [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt Instrument, Term | 3 years |
Short-Term Borrowings, Long-T_8
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, 2018USD ($) | May 02, 2017USD ($) | 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 | 5,456 | |||
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% | |||
Revolving Credit Facility [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 3,000 | |||
Revolving Credit Facility [Member] | Successor [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 3,000 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 2,956 | |||
Term Loan Facility due 2020 [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 4,500 | |||
Line of Credit Facility, Remaining Borrowing Capacity | $ 2,500 | |||
Line of Credit Facility, Number of Borrowings | 4 | 7 | ||
Borrowings under Term Loan Facility | $ 2,000 | |||
Term Loan Facility due 2020 [Member] | Scenario, Forecast [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt Instrument, Term | 3 years | |||
Term Loan Facility due 2020 [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 | $ 2,500 |
Short-Term Borrowings, Long-T_9
Short-Term Borrowings, Long-Term Debt and Available Credit Facilities Debt Extinguishment (Details) - Successor [Member] - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||
Dec. 11, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Nov. 13, 2018 | ||
Debt Instrument [Line Items] | ||||||
Loss on Extinguishment of Debt | $ 81 | $ 0 | $ 81 | |||
Loans Payable [Member] | Tender Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Tender Offer for Debt Securities | [1] | $ 6,200 | ||||
Extinguishment of Debt, Amount | $ 4,409 | |||||
Repayments of Long-term Debt, including breakage fees and all applicable accrued and unpaid interest | 4,849 | |||||
Loss on Extinguishment of Debt | $ 81 | |||||
[1] | See discussion of debt extinguishment that follows. |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities Guarantee Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | $ 259 | $ 297 | |
Customer Guarantee, Bank Borrowings [Member] | |||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | [1] | $ 90 | |
Guarantor Obligations, Liquidation Proceeds, Percentage | 17.00% | ||
[1] | Existing guarantees for select customers, as part of contractual agreements. The terms of the guarantees are equivalent to the terms of the customer loans that are primarily made to finance customer invoices. Of the total maximum future payments, $89 million had terms less than a year. |
Commitments and Contingent Li_4
Commitments and Contingent Liabilities Guarantees (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | $ 259 | $ 297 | |
Customer Guarantee, Bank Borrowings [Member] | |||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | [1] | $ 90 | |
Guaranteed Obligations, Maximum Term, Years | 4 years | ||
Equity Affiliates Guarantee, Bank Borrowings [Member] | |||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | [2] | $ 165 | |
Guaranteed Obligations, Maximum Term, Months | 12 months | ||
Residual Value Guarantee [Member] | |||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | [3] | $ 4 | |
Guaranteed Obligations, Maximum Term, Years | 7 years | ||
Current Portion | Customer Guarantee, Bank Borrowings [Member] | |||
Guarantor Obligations [Line Items] | |||
Guarantee Obligations | $ 89 | ||
[1] | Existing guarantees for select customers, as part of contractual agreements. The terms of the guarantees are equivalent to the terms of the customer loans that are primarily made to finance customer invoices. Of the total maximum future payments, $89 million had terms less than a year. | ||
[2] | Existing guarantees for non-consolidated affiliates' liquidity needs in normal operations. | ||
[3] | The company provides guarantees related to leased assets specifying the residual value that will be available to the lessor at lease termination through sale of the assets to the lessee or third parties. |
Commitments and Contingent Li_5
Commitments and Contingent Liabilities Operating Leases (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |
Future Minimum Lease Payments 2019 | $ 242 | |||
Future Minimum Lease Payments 2020 | 128 | |||
Future Minimum Lease Payments 2021 | 90 | |||
Future Minimum Lease Payments 2022 | 66 | |||
Future Minimum Lease Payments 2023 | 44 | |||
Future Minimum Lease Payments Thereafter | 85 | |||
Non-cancelable minimum sublease rentals | 2 | |||
Successor [Member] | ||||
Net rental expense | $ 105 | $ 271 | ||
Predecessor [Member] | ||||
Net rental expense | $ 179 | $ 242 |
Commitments and Contingent Li_6
Commitments and Contingent Liabilities Litigation (Details) | 3 Months Ended | 12 Months Ended | 60 Months Ended | 84 Months Ended | ||
Mar. 31, 2017USD ($) | Dec. 31, 2018USD ($)lawsuits | Dec. 31, 2004USD ($) | Jul. 06, 2022 | Dec. 31, 2018USD ($)lawsuits | Jan. 01, 2012 | |
PFOA Matters [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Accrual balance | $ 20,000,000 | $ 20,000,000 | ||||
PFOA Matters: Multi-District Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Number Of Water Districts Receiving Water Treatment | 6 | |||||
Escrow Deposits to Date | 2,000,000 | |||||
Escrow Disbursements to Date | $ 1,000,000 | |||||
Disease Categories for MDL | 6 | 6 | ||||
Lawsuits alleging personal injury filed | lawsuits | 3,550 | 3,550 | ||||
Loss Contingency, Limited Sharing of Potential Future Liabilities, Period | 5 years | |||||
Additional annual PFOA liabilities for the next five years paid by DuPont | $ 25,000,000 | $ 25,000,000 | ||||
PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Pending Claims, Number | 43 | 43 | ||||
NEW YORK | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Pending Claims, Number | 25 | 25 | ||||
NEW JERSEY | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Pending Claims, Number | 2 | 2 | ||||
ALABAMA | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Pending Claims, Number | 1 | 1 | ||||
OHIO | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Pending Claims, Number | 2 | 2 | ||||
NORTH CAROLINA | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Number of Additional Plaintiffs | 100 | |||||
Chemours [Member] | PFOA Matters [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Indemnification Assets | $ 20,000,000 | $ 20,000,000 | ||||
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 | ||||
Predecessor [Member] | PFOA Matters: Multi-District Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Binding Settlement Agreement Class Size | 80,000 | |||||
Litigation Settlement, Liability For Medical Monitoring Program, Threshold | $ 235,000,000 | |||||
Litigation Settlement, Amount Awarded to Other Party | $ 670,700,000 | |||||
Not part of MDL or filed on behalf of Leach class members [Member] | PFOA Matters: Drinking Water Actions [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Pending Claims, Number | 3 | 3 |
Commitments and Contingent Li_7
Commitments and Contingent Liabilities Environmental (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Loss Contingencies [Line Items] | ||
Accrual for Environmental Loss Contingencies | $ 381 | $ 433 |
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual | 750 | |
Superfund Sites [Member] | ||
Loss Contingencies [Line Items] | ||
Accrual for Environmental Loss Contingencies | 54 | $ 67 |
Chemours [Member] | ||
Loss Contingencies [Line Items] | ||
Accrual for Environmental Loss Contingencies | 193 | |
Accrual for Environmental Loss Contingencies, Potential Exposure in Excess of Accrual | 310 | |
Indemnification Agreement [Member] | Chemours [Member] | ||
Loss Contingencies [Line Items] | ||
Indemnification Assets | 193 | |
Indemnification Agreement [Member] | Chemours [Member] | Superfund Sites [Member] | ||
Loss Contingencies [Line Items] | ||
Indemnification Assets | $ 35 |
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 | |
Dec. 31, 2016 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2016 | Jan. 21, 2015 | |
Equity, Class of Treasury Stock [Line Items] | |||||
Shares Repurchased and Retired During Period | (13,152,000) | ||||
Payments for Repurchase of Common Stock | $ 0 | $ 916 | |||
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 |
Stockholders' Equity Stockholde
Stockholders' Equity Stockholders' Equity (Narrative) (Details) - USD ($) $ in Millions | Aug. 30, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 |
Class of Stock [Line Items] | ||||||
Treasury Stock, Shares | 0 | 0 | ||||
Predecessor [Member] | ||||||
Class of Stock [Line Items] | ||||||
Treasury Stock, Shares | 87,000,000 | 0 | 87,041,000 | 87,041,000 | ||
Excess of Cost of Treasury Stock over Par Value | $ 0 | $ 0 | ||||
Tax benefit recorded in Stockholders' Equity | 33 | |||||
Tax benefits | 21 | |||||
Successor [Member] | ||||||
Class of Stock [Line Items] | ||||||
Treasury Stock, Shares | 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 | |||
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 |
Stockholders' Equity Reconcilia
Stockholders' Equity Reconciliation of Common Stock Share Activity (Details) - shares | 8 Months Ended | 12 Months Ended | 16 Months Ended | |||
Aug. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 | ||
Class of Stock [Line Items] | ||||||
Treasury Stock Shares, End of Period | 0 | |||||
Predecessor [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common Stock, Shares, Outstanding | 868,338,000 | 950,044,000 | 958,388,000 | |||
Shares Issued During Period | 5,335,000 | 4,808,000 | ||||
Shares Repurchased and Retired During Period | (13,152,000) | |||||
Shares Retired During the Period | (87,041,000) | |||||
Treasury Stock Shares, Beginning of Period | (87,041,000) | (87,041,000) | 0 | |||
Treasury Stock Shares Repurchased During Period | (13,152,000) | |||||
Treasury Stock Shares Retired During Period | 87,041,000 | 13,152,000 | ||||
Treasury Stock Shares, End of Period | 0 | (87,041,000) | ||||
Successor [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common Stock, Shares, Outstanding | [1] | 100 | 100 | 100 | ||
Shares Issued During Period | 0 | |||||
Treasury Stock Shares, Beginning of Period | 0 | |||||
Treasury Stock Shares, End of Period | 0 | |||||
[1] | ll of the company's issued and outstanding common stock 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, 2018 | Dec. 31, 2016 | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | $ 74,932 | |||||||
Ending Balance | $ 74,932 | 70,088 | ||||||
Predecessor [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | 12,517 | $ 10,196 | $ 10,200 | |||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 321 | 335 | ||||||
Net other comprehensive income (loss) | 1,289 | (515) | ||||||
Ending Balance | 12,517 | 10,196 | ||||||
Predecessor [Member] | Cumulative Translation Adjustment | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | (1,801) | (2,843) | (2,333) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | [1] | 1,042 | (510) | |||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | 0 | ||||||
Net other comprehensive income (loss) | 1,042 | (510) | ||||||
Ending Balance | (1,801) | (2,843) | ||||||
Predecessor [Member] | Derivative Instruments | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | (3) | 7 | (24) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 3 | 20 | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | (13) | 11 | ||||||
Net other comprehensive income (loss) | (10) | 31 | ||||||
Ending Balance | (3) | 7 | ||||||
Predecessor [Member] | Unrealized gain (loss) on investments | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | 2 | 2 | (18) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 1 | (8) | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | (1) | 28 | ||||||
Net other comprehensive income (loss) | 0 | 20 | ||||||
Ending Balance | 2 | 2 | ||||||
Predecessor [Member] | Total | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | (8,622) | (9,911) | (9,396) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 968 | (850) | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 321 | 335 | ||||||
Net other comprehensive income (loss) | 1,289 | (515) | ||||||
Ending Balance | (8,622) | (9,911) | ||||||
Successor [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | 75,081 | |||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | 0 | ||||||
Net other comprehensive income (loss) | (381) | (2,122) | ||||||
Ending Balance | 75,081 | 70,088 | ||||||
Successor [Member] | Cumulative Translation Adjustment | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | 0 | [2] | (454) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | [1] | (454) | (1,512) | |||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | 0 | ||||||
Net other comprehensive income (loss) | (454) | (1,512) | ||||||
Ending Balance | (454) | 0 | [2] | (1,966) | ||||
Successor [Member] | Derivative Instruments | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | 0 | [2] | (2) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (2) | (19) | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | (5) | ||||||
Net other comprehensive income (loss) | (2) | (24) | ||||||
Ending Balance | (2) | 0 | [2] | (26) | ||||
Successor [Member] | Unrealized gain (loss) on investments | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | 0 | [2] | 0 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | 0 | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | 0 | ||||||
Net other comprehensive income (loss) | 0 | 0 | ||||||
Ending Balance | 0 | 0 | [2] | 0 | ||||
Successor [Member] | Total | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | 0 | [2] | (381) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (381) | (2,122) | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | 0 | ||||||
Net other comprehensive income (loss) | (381) | (2,122) | ||||||
Ending Balance | (381) | 0 | [2] | (2,503) | ||||
Other Benefit Plans | Predecessor [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | (347) | (357) | 22 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | (81) | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 10 | (298) | ||||||
Net other comprehensive income (loss) | 10 | (379) | ||||||
Ending Balance | (347) | (357) | ||||||
Other Benefit Plans | Successor [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | 0 | [2] | (53) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (53) | 132 | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | 0 | ||||||
Net other comprehensive income (loss) | (53) | 132 | ||||||
Ending Balance | (53) | 0 | [2] | 79 | ||||
Pension Plan | Predecessor [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | (6,473) | (6,720) | (7,043) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (78) | (271) | [3] | |||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 325 | 594 | ||||||
Net other comprehensive income (loss) | 247 | 323 | ||||||
Ending Balance | (6,473) | $ (6,720) | ||||||
Pension Plan | Successor [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning Balance | 0 | [2] | 128 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 128 | (723) | ||||||
Amounts Reclassified from Accumulated Other Comprehensive Income, Net of Tax | 0 | 5 | ||||||
Net other comprehensive income (loss) | 128 | (718) | ||||||
Ending Balance | $ 128 | $ 0 | [2] | $ (590) | ||||
[1] | The cumulative translation adjustment losses for the year ended December 31, 2018, and for the period September 1 through December 31, 2017, are primarily driven by the strengthening of the 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. | |||||||
[2] | In connection with the Merger, previously unrecognized prior service benefits and net losses related to Historical DuPont's pension and other post employment benefit ("OPEB") plans were eliminated as a result of reflecting the balance sheet at fair value as of the date of the Merger. See Note 3 and 18 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 18 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, 2018 | Dec. 31, 2016 | |
Successor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | $ (21) | $ 167 | ||
Successor [Member] | Derivative Instruments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | 1 | 6 | ||
Predecessor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | $ (144) | $ 12 | ||
Predecessor [Member] | Derivative Instruments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | 6 | (19) | ||
Pension Plan | Successor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | (37) | 201 | ||
Pension Plan | Predecessor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | (145) | (163) | ||
Other Benefit Plans | Successor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | $ 15 | $ (40) | ||
Other Benefit Plans | Predecessor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Tax | $ (5) | $ 194 |
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 | Aug. 31, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |||||||||
Successor [Member] | |||||||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||||||||||||
Cost of Goods Sold | $ 1,531 | [1] | $ 3,980 | [1] | $ 3,686 | [1] | $ 5,669 | [1] | $ 4,847 | [1] | $ 4,709 | [1] | $ 6,240 | $ 18,182 | |||||||
Income Tax Expense (Benefit) | (2,673) | 220 | |||||||||||||||||||
(Loss) income from continuing operations after income taxes | $ (275) | $ (351) | [2],[3] | $ (4,960) | [3],[4] | $ 514 | [3] | $ (216) | [3] | $ 1,362 | [3] | 1,087 | (5,013) | ||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | |||||||||||||||||||
Successor [Member] | Derivative Instruments | |||||||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||||||||||||
Cost of Goods Sold | [5] | 0 | (6) | ||||||||||||||||||
Income Tax Expense (Benefit) | [6] | 0 | 1 | ||||||||||||||||||
(Loss) income from continuing operations after income taxes | 0 | (5) | |||||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | (5) | |||||||||||||||||||
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 | [7] | 0 | 0 | ||||||||||||||||||
Reclassification from AOCI, Current Period, Tax | [6] | 0 | 0 | ||||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | |||||||||||||||||||
Predecessor [Member] | |||||||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||||||||||||
Cost of Goods Sold | $ 1,937 | $ 3,963 | $ 4,152 | $ 10,052 | $ 13,937 | ||||||||||||||||
Income Tax Expense (Benefit) | 149 | 641 | |||||||||||||||||||
(Loss) income from continuing operations after income taxes | $ (258) | $ 722 | $ 1,178 | [8],[9] | 1,642 | 2,082 | |||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 321 | 335 | |||||||||||||||||||
Predecessor [Member] | Derivative Instruments | |||||||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||||||||||||
Cost of Goods Sold | [5] | (21) | 18 | ||||||||||||||||||
Income Tax Expense (Benefit) | [6] | 8 | (7) | ||||||||||||||||||
(Loss) income from continuing operations after income taxes | (13) | 11 | |||||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (13) | 11 | |||||||||||||||||||
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 | [7] | (1) | 28 | ||||||||||||||||||
Reclassification from AOCI, Current Period, Tax | [6] | 0 | 0 | ||||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (1) | 28 | |||||||||||||||||||
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 | 5 | |||||||||||||||||||
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 | [7],[10] | 0 | 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 | [7],[10] | 0 | 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 | [7],[10] | 0 | 7 | ||||||||||||||||||
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 | [7],[10] | 0 | (2) | ||||||||||||||||||
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 | 5 | |||||||||||||||||||
Reclassification from AOCI, Current Period, Tax | [6] | 0 | 0 | ||||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 5 | |||||||||||||||||||
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 | |||||||||||||||||||
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 | [7],[10] | (3) | (6) | ||||||||||||||||||
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 | [7],[10] | 506 | 822 | ||||||||||||||||||
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 | [7],[10] | 0 | 40 | ||||||||||||||||||
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 | [7],[10] | 0 | 62 | ||||||||||||||||||
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 | |||||||||||||||||||
Reclassification from AOCI, Current Period, Tax | [6] | (178) | (324) | ||||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 325 | 594 | |||||||||||||||||||
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 | 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 | [7],[10] | 0 | 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 | [7],[10] | 0 | 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 | [7],[10] | 0 | 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 | 0 | |||||||||||||||||||
Reclassification from AOCI, Current Period, Tax | [6] | 0 | 0 | ||||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 0 | $ 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) | |||||||||||||||||||
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 | [7],[10] | (46) | (134) | ||||||||||||||||||
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 | [7],[10] | 61 | 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 | [7],[10] | 0 | (392) | ||||||||||||||||||
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) | |||||||||||||||||||
Reclassification from AOCI, Current Period, Tax | [6] | (5) | 150 | ||||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 10 | $ (298) | |||||||||||||||||||
[1] | Includes charges of $(360) million and $(1,109) million, $(703) million, $(682) million, $(109) million, and $(134) million during the period September 1 - September 30, 2017, fourth quarter 2017, first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business. See Note 3 for additional information. | ||||||||||||||||||||
[2] | Includes a loss on early extinguishment of debt of $(81) million in the fourth quarter 2018 related to the retirement of some of the company's notes payable. See Note 15 for additional information. | ||||||||||||||||||||
[3] | Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to The Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. Includes tax (charges) benefits of $(102) million, $(7) million, $46 million, and $(167) million in the first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to The Act. See Note 9 for additional information. | ||||||||||||||||||||
[4] | Includes a tax charge of $(75) million in the third quarter 2018 related to the establishment of a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil. See Note 9 for additional information. | ||||||||||||||||||||
[5] | Cost of goods sold. | ||||||||||||||||||||
[6] | Provision for (benefit from) income taxes from continuing operations. | ||||||||||||||||||||
[7] | Sundry income (expense) - net. | ||||||||||||||||||||
[8] | 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. | ||||||||||||||||||||
[9] | First quarter 2017 included a tax benefit of $53 million, as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income (expense) - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. | ||||||||||||||||||||
[10] | 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 18 for additional information. |
Stockholders' Equity Noncontrol
Stockholders' Equity Noncontrolling Interest (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Merger with Dow [Member] | |
Noncontrolling Interest [Line Items] | |
Noncontrolling interest measurement period adjustments | $ 61 |
Pension Plans and Other Post _3
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 ($) | Dec. 31, 2018USD ($) | Dec. 31, 2016USD ($) | 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 | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Discount Rate | 3.37% | 3.37% | 3.94% | |||||
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 | $ 190 | |||||||
Other Post Employment Benefits Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Discount Rate | 3.56% | 3.56% | 4.23% | |||||
Other Post Employment Benefits 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 | $ 240 | |||||||
Predecessor [Member] | Remaining Plans with no Plan Assets [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | $ 57 | $ 184 | ||||||
Predecessor [Member] | U.S. Retirement Savings Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | 129 | 187 | ||||||
Predecessor [Member] | DuPont Other Contribution Plans [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | 33 | 33 | ||||||
Predecessor [Member] | Pension Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Remeasurement Impact Benefit Obligation | 527 | |||||||
Curtailment loss (gain) | $ (25) | 0 | $ 40 | |||||
Employer contributions | $ 3,024 | |||||||
Discount Rate | 3.80% | 3.42% | 3.80% | |||||
Expected long-term rate of return on plan assets | 7.66% | 7.74% | ||||||
Predecessor [Member] | Pension Plan | Principal U.S. Pension Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | $ 2,900 | $ 230 | ||||||
Lump-Sum Payments | $ 550 | |||||||
Expected long-term rate of return on plan assets | 8.00% | 8.00% | ||||||
Predecessor [Member] | Pension Plan | Other Pension Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | $ 67 | $ 121 | ||||||
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) | |||||
Pre-tax cash requirements to cover actual net claims costs and related administrative expenses | 166 | $ 218 | ||||||
Employer contributions | $ 166 | |||||||
Discount Rate | 4.03% | 3.62% | 4.03% | |||||
Successor [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Trust Asset | $ 558 | $ 558 | 500 | |||||
Successor [Member] | Other Pension Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | 34 | 103 | ||||||
Successor [Member] | Remaining Plans with no Plan Assets [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | 34 | 105 | ||||||
Successor [Member] | U.S. Retirement Savings Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | 53 | 183 | ||||||
Successor [Member] | DuPont Other Contribution Plans [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | 17 | 51 | ||||||
Successor [Member] | Pension Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Curtailment loss (gain) | 0 | (11) | ||||||
Employer contributions | 68 | $ 1,308 | ||||||
Remeasurement Impact Underfunded Status | $ 560 | |||||||
Expected long-term rate of return on plan assets | 6.24% | 6.19% | ||||||
Successor [Member] | Pension Plan | Principal U.S. Pension Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Employer contributions | $ 1,100 | |||||||
Lump-Sum Payments | 140 | |||||||
Expected long-term rate of return on plan assets | 6.25% | 6.25% | ||||||
Successor [Member] | Other Post Employment Benefits Plan | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Curtailment loss (gain) | $ 0 | $ 0 | ||||||
Pre-tax cash requirements to cover actual net claims costs and related administrative expenses | 59 | 216 | ||||||
Employer contributions | 59 | 216 | ||||||
Remeasurement Impact Underfunded Status | 41 | |||||||
Nonqualified Plan [Member] | Successor [Member] | Trust Agreement [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Contributions to Trust | $ 571 | |||||||
Trust Asset Distribution | 13 | 68 | ||||||
Trust Asset | $ 558 | 558 | $ 500 | |||||
Discontinued Operations [Member] | Predecessor [Member] | DuPont Other Contribution Plans [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Defined Contribution Plan, Employer Contribution | $ 5 | $ 6 | ||||||
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] | Principal U.S. Pension Plan [Member] | ||||||||
Defined Benefit and Contribution Disclosures [Line Items] | ||||||||
Curtailment loss (gain) | 63 | |||||||
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 Post _4
Pension Plans and Other Post Employment Benefit Plans Weighted Average Assumptions used to Determine Benefit Obligations - Pension (Details) - Pension Plan | Dec. 31, 2018 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||||
Discount Rate | 3.94% | 3.37% | |||
Rate of increase in future compensation levels | 2.90% | 4.04% | [1] | ||
Predecessor [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Discount Rate | 3.42% | 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 December 31, 2018 rate is only applicable for non-U.S. pension plans since employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation as of November 30, 2018. |
Pension Plans and Other Post _5
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, 2018 | Dec. 31, 2016 | |
Successor [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 3.42% | 3.38% | ||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.80% | 4.04% | ||
Expected long-term rate of return on plan assets | 6.24% | 6.19% | ||
Successor [Member] | Principal U.S. Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 3.73% | 3.65% | ||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.95% | 4.25% | ||
Expected long-term rate of return on plan assets | 6.25% | 6.25% | ||
Predecessor [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 3.80% | 3.77% | ||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.80% | 3.96% | ||
Expected long-term rate of return on plan assets | 7.66% | 7.74% | ||
Predecessor [Member] | Principal U.S. Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 4.16% | 4.04% | ||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.95% | 4.15% | ||
Expected long-term rate of return on plan assets | 8.00% | 8.00% |
Pension Plans and Other Post _6
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, 2018 | Dec. 31, 2016 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Discount Rate | 3.56% | 4.23% | ||
Successor [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Net Periodic Benefit, Discount Rate | 3.62% | 3.56% | ||
Predecessor [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Discount Rate | 3.62% | 4.03% | ||
Net Periodic Benefit, Discount Rate | 4.03% | 3.87% |
Pension Plans and Other Post _7
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, 2018 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Health care cost trend rate assumed for next year | 6.40% | 7.50% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | 5.00% |
Year that the rate reached the ultimate health care cost trend rate | 2,023 | 2,028 |
Pension Plans and Other Post _8
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, 2018 | Dec. 31, 2016 | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||
Benefit obligation at beginning of the period | $ 389 | |||||||||
Benefit obligation at end of the period | $ 389 | $ 389 | 349 | |||||||
Pension Plan | ||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||
Fair value of plan assets at beginning of period | 20,284 | |||||||||
Fair value of plan assets at end of period | 20,284 | 20,284 | 18,918 | |||||||
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 | 25,550 | |||||||
Service Cost | 49 | 131 | ||||||||
Interest Cost | 247 | 752 | ||||||||
Plan participants' contributions | 6 | 10 | ||||||||
Actuarial (gain) loss | (23) | (1,078) | ||||||||
Benefits Paid | (730) | (1,747) | ||||||||
Plan amendments | 0 | 17 | ||||||||
Net effects of acquisitions / divestitures / other | 22 | (12) | ||||||||
Effect of foreign exchange rates | (57) | (209) | ||||||||
Benefit obligation at end of the period | 25,550 | [1] | 25,550 | [1] | $ 26,036 | [1] | 23,414 | |||
Fair value of plan assets at beginning of period | [1] | 20,395 | 20,284 | |||||||
Actual return on plan assets | 549 | (782) | ||||||||
Employer contributions | 68 | 1,308 | ||||||||
Plan participants' contributions | 6 | 10 | ||||||||
Benefits paid | [2] | (730) | (1,747) | |||||||
Net effects of acquisitions / divestitures / other | 29 | (7) | ||||||||
Effect of foreign exchange rates | (33) | (148) | ||||||||
Fair value of plan assets at end of period | 20,284 | [1] | 20,284 | [1] | 20,395 | [1] | 18,918 | |||
Funded (unfunded) status of plan | (5,266) | (5,266) | (4,496) | |||||||
Successor [Member] | Pension Plan | Principal U.S. Pension Plan [Member] | ||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||
Employer contributions | 1,100 | |||||||||
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) | (2,890) | |||||||
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) | (488) | |||||||
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) | (1,118) | ||||||
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 | 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 | 2,772 | 2,810 | ||||||||
Service Cost | 3 | 9 | ||||||||
Interest Cost | 26 | 85 | ||||||||
Plan participants' contributions | 12 | 38 | ||||||||
Actuarial (gain) loss | 68 | (172) | ||||||||
Benefits Paid | (71) | (254) | ||||||||
Plan amendments | 0 | 0 | ||||||||
Net effects of acquisitions / divestitures / other | 0 | 0 | ||||||||
Effect of foreign exchange rates | 0 | (2) | ||||||||
Benefit obligation at end of the period | 2,810 | 2,810 | 2,772 | 2,514 | ||||||
Fair value of plan assets at beginning of period | 0 | 0 | ||||||||
Actual return on plan assets | 0 | 0 | ||||||||
Employer contributions | 59 | 216 | ||||||||
Plan participants' contributions | 12 | 38 | ||||||||
Benefits paid | (71) | (254) | ||||||||
Net effects of acquisitions / divestitures / other | 0 | 0 | ||||||||
Effect of foreign exchange rates | 0 | 0 | ||||||||
Fair value of plan assets at end of period | 0 | 0 | 0 | 0 | ||||||
Funded (unfunded) status of plan | (2,810) | (2,810) | (2,514) | |||||||
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 | 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 | 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) | (2,514) | |||||||
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 | $ 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 | ||||||||
Service Cost | 92 | $ 174 | ||||||||
Interest Cost | 524 | 800 | ||||||||
Plan participants' contributions | 8 | |||||||||
Actuarial (gain) loss | 0 | |||||||||
Benefits Paid | (1,118) | |||||||||
Plan amendments | 0 | |||||||||
Net effects of acquisitions / divestitures / other | 0 | |||||||||
Effect of foreign exchange rates | 429 | |||||||||
Benefit obligation at end of the period | $ 24,831 | 24,766 | 24,831 | |||||||
Fair value of plan assets at beginning of period | 19,685 | 16,656 | ||||||||
Actual return on plan assets | 846 | |||||||||
Employer contributions | 3,024 | |||||||||
Plan participants' contributions | 8 | |||||||||
Benefits paid | (1,118) | |||||||||
Net effects of acquisitions / divestitures / other | 0 | |||||||||
Effect of foreign exchange rates | 269 | |||||||||
Fair value of plan assets at end of period | 16,656 | 19,685 | 16,656 | |||||||
Funded (unfunded) status of plan | (5,081) | |||||||||
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 | (3,277) | |||||||||
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 | (609) | |||||||||
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 | (1,187) | |||||||||
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) | |||||||||
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 | ||||||||
Service Cost | 6 | 11 | ||||||||
Interest Cost | 60 | 87 | ||||||||
Plan participants' contributions | 26 | |||||||||
Actuarial (gain) loss | 0 | |||||||||
Benefits Paid | (192) | |||||||||
Plan amendments | 0 | |||||||||
Net effects of acquisitions / divestitures / other | 0 | |||||||||
Effect of foreign exchange rates | 2 | |||||||||
Benefit obligation at end of the period | 2,829 | 2,731 | 2,829 | |||||||
Fair value of plan assets at beginning of period | $ 0 | 0 | ||||||||
Actual return on plan assets | 0 | |||||||||
Employer contributions | 166 | |||||||||
Plan participants' contributions | 26 | |||||||||
Benefits paid | (192) | |||||||||
Net effects of acquisitions / divestitures / other | 0 | |||||||||
Effect of foreign exchange rates | 0 | |||||||||
Fair value of plan assets at end of period | $ 0 | 0 | $ 0 | |||||||
Funded (unfunded) status of plan | (2,731) | |||||||||
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 | |||||||||
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 | |||||||||
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 | (2,731) | |||||||||
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 | |||||||||
[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 2017, about $140 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. | |||||||||
[3] | As of December 31, 2018, and December 31, 2017, $349 million and $389 million respectively of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below. | |||||||||
[4] | Includes pension plans maintained around the world where funding is not customary. |
Pension Plans and Other Post _9
Pension Plans and Other Post Employment Benefit Plans Amounts Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 23,100 | $ 25,100 |
Noncurrent liabilities | (6,683) | (7,787) |
Pension Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Other Assets | 11 | 47 |
Net amount recognized | (4,496) | (5,266) |
Net (gain) loss | 737 | (165) |
Prior service cost | 17 | 0 |
Pretax balance in accumulated other comprehensive (income) loss at end of year | 754 | (165) |
Other Post Employment Benefits Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Other Assets | 0 | 0 |
Net amount recognized | (2,514) | (2,810) |
Net (gain) loss | (104) | 68 |
Prior service cost | 0 | 0 |
Pretax balance in accumulated other comprehensive (income) loss at end of year | (104) | 68 |
Accrued and Other Current Liabilities [Member] | Pension Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Current liabilities | (95) | (86) |
Accrued and Other Current Liabilities [Member] | Other Post Employment Benefits Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Current liabilities | (243) | (250) |
Pension and other post employment benefits - noncurrent [Member] | Pension Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Noncurrent liabilities | (4,412) | (5,227) |
Pension and other post employment benefits - noncurrent [Member] | Other Post Employment Benefits Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Noncurrent liabilities | $ (2,271) | $ (2,560) |
Pension Plans and Other Post_10
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, 2018 | Dec. 31, 2017 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Projected benefit obligations | $ 23,143 | $ 25,254 |
Fair Value of plan assets | $ 18,636 | $ 19,941 |
Pension Plans and Other Post_11
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, 2018 | Dec. 31, 2017 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Accumulated benefit obligations | $ 22,185 | $ 24,315 |
Fair value of plan assets | $ 17,901 | $ 19,335 |
Pension Plans and Other Post_12
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, 2018 | Dec. 31, 2016 | |
Successor [Member] | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service Cost | $ 49 | $ 131 | |||
Interest Cost | 247 | 752 | |||
Expected return on plan assets | (407) | (1,202) | |||
Amortization of unrecognized loss | 0 | 7 | |||
Amortization of prior service benefit | 0 | 0 | |||
Curtailment loss (gain) | 0 | (11) | |||
Settlement loss | 0 | 1 | |||
Net periodic benefit cost (credit) | (111) | (322) | |||
Net (gain) loss | (165) | 906 | |||
Amortization of unrecognized loss | 0 | (7) | |||
Prior service cost (benefit) | 0 | 17 | |||
Amortization of prior service benefit | 0 | 0 | |||
Curtailment (loss) gain | 0 | 0 | |||
Settlement gain (loss) | 0 | 2 | |||
Effect of foreign exchange rates | 0 | 1 | |||
Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont | (165) | 919 | |||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | (276) | 597 | |||
Successor [Member] | Other Post Employment Benefits Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service Cost | 3 | 9 | |||
Interest Cost | 26 | 85 | |||
Expected return on plan assets | 0 | 0 | |||
Amortization of unrecognized loss | 0 | 0 | |||
Amortization of prior service benefit | 0 | 0 | |||
Curtailment loss (gain) | 0 | 0 | |||
Settlement loss | 0 | 0 | |||
Net periodic benefit cost (credit) | 29 | 94 | |||
Net (gain) loss | 68 | (172) | |||
Amortization of unrecognized loss | 0 | 0 | |||
Prior service cost (benefit) | 0 | 0 | |||
Amortization of prior service benefit | 0 | 0 | |||
Curtailment (loss) gain | 0 | 0 | |||
Settlement gain (loss) | 0 | 0 | |||
Effect of foreign exchange rates | 0 | 0 | |||
Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont | 68 | (172) | |||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | 97 | (78) | |||
Predecessor [Member] | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service Cost | $ 92 | $ 174 | |||
Interest Cost | 524 | 800 | |||
Expected return on plan assets | (824) | (1,320) | |||
Amortization of unrecognized loss | 506 | 822 | |||
Amortization of prior service benefit | (3) | (6) | |||
Curtailment loss (gain) | $ (25) | 0 | 40 | ||
Settlement loss | 0 | 62 | |||
Net periodic benefit cost (credit) | 295 | 572 | |||
Net (gain) loss | (22) | 570 | |||
Amortization of unrecognized loss | (506) | (822) | |||
Prior service cost (benefit) | 0 | 0 | |||
Amortization of prior service benefit | 3 | 6 | |||
Curtailment (loss) gain | 0 | (40) | |||
Settlement gain (loss) | 0 | (62) | |||
Effect of foreign exchange rates | 133 | (138) | |||
Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont | (392) | (486) | |||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | (97) | 86 | |||
Predecessor [Member] | Other Post Employment Benefits Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service Cost | 6 | 11 | |||
Interest Cost | 60 | 87 | |||
Expected return on plan assets | 0 | 0 | |||
Amortization of unrecognized loss | 61 | 78 | |||
Amortization of prior service benefit | (46) | (134) | |||
Curtailment loss (gain) | $ (357) | 0 | (392) | ||
Settlement loss | 0 | 0 | |||
Net periodic benefit cost (credit) | 81 | (350) | |||
Net (gain) loss | 0 | 153 | |||
Amortization of unrecognized loss | (61) | (78) | |||
Prior service cost (benefit) | 0 | (28) | |||
Amortization of prior service benefit | 46 | 134 | |||
Curtailment (loss) gain | 0 | 392 | |||
Settlement gain (loss) | 0 | 0 | |||
Effect of foreign exchange rates | 0 | 0 | |||
Total (benefit) loss recognized in other comprehensive loss, attributable to DuPont | (15) | 573 | |||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | 66 | 223 | |||
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 | 0 | |||
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 | 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 | |||
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 | |||
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) | (322) | |||
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 | $ 94 | |||
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 | |||
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) |
Pension Plans and Other Post_13
Pension Plans and Other Post Employment Benefit Plans Estimated Future Benefit Payments (Details) $ in Millions | Dec. 31, 2018USD ($) |
Pension Plan | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2,019 | $ 1,648 |
2,020 | 1,613 |
2,021 | 1,597 |
2,022 | 1,574 |
2,023 | 1,556 |
2024-2028 | 7,437 |
Total | 15,425 |
Postemployment Retirement Benefits [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2,019 | 240 |
2,020 | 235 |
2,021 | 226 |
2,022 | 219 |
2,023 | 210 |
2024-2028 | 861 |
Total | $ 1,991 |
Pension Plans and Other Post_14
Pension Plans and Other Post Employment Benefit Plans Target Allocation for Plan Assets (Details) - Pension Plan | Dec. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 100.00% | 100.00% |
Fixed Income Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 50.00% | 50.00% |
Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 2.00% | 2.00% |
Private Market Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 8.00% | 8.00% |
Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 3.00% | 3.00% |
Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 2.00% | 2.00% |
UNITED STATES | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 19.00% | 17.00% |
Non-US [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation for plan assets | 16.00% | 18.00% |
Pension Plans and Other Post_15
Pension Plans and Other Post Employment Benefit Plans Basis of Fair Value Measurement (Details) - Pension Plan - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 01, 2017 | Aug. 31, 2017 | [7] | ||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | $ 18,918 | $ 20,284 | |||||
Investments Measured at Net Asset Value | 2,859 | 2,567 | |||||
Fair Value of Plan Assets, Excluding Trust Receivables and payables and assets measured at NAV | 16,057 | 17,765 | |||||
Pension Trust Receivables | 210 | [1] | 127 | [2] | |||
Pension Trust Payables | (208) | [3] | (175) | [4] | |||
Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 8,819 | 10,961 | |||||
Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 6,908 | 6,643 | |||||
Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 330 | 161 | |||||
Cash and Cash Equivalents [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 1,824 | 3,057 | |||||
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 1,824 | 3,057 | |||||
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 0 | |||||
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 0 | |||||
US Treasury and Government [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 3,659 | 3,263 | |||||
Investments Measured at Net Asset Value | 208 | ||||||
US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 211 | 497 | |||||
US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 3,448 | 2,766 | |||||
US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 0 | |||||
Corporate Debt Securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 3,037 | 3,181 | |||||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 253 | 270 | |||||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 2,770 | 2,884 | |||||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 14 | 27 | |||||
Asset-backed Securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 721 | 706 | |||||
Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 39 | 17 | |||||
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 682 | 687 | |||||
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 2 | |||||
Hedge Funds [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 162 | 85 | |||||
Investments Measured at Net Asset Value | 678 | 747 | |||||
Hedge Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 162 | 0 | |||||
Hedge Funds [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 83 | |||||
Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 2 | |||||
Private Market Securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 1 | 14 | |||||
Investments Measured at Net Asset Value | 1,861 | 1,383 | |||||
Private Market Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 0 | |||||
Private Market Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 0 | |||||
Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 1 | 14 | |||||
Real Estate [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 336 | 342 | |||||
Investments Measured at Net Asset Value | 112 | 437 | |||||
Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 243 | 239 | |||||
Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 7 | |||||
Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 93 | 96 | |||||
Derivative, Asset [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 10 | 24 | |||||
Derivative, Asset [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 1 | 3 | |||||
Derivative, Asset [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 9 | 21 | |||||
Derivative, Asset [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 0 | |||||
Derivative, Liability [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | (18) | (16) | |||||
Derivative, Liability [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 0 | |||||
Derivative, Liability [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | (18) | (16) | |||||
Derivative, Liability [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 0 | |||||
Other Investments [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 206 | 2 | |||||
Other Investments [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 0 | |||||
Other Investments [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 2 | |||||
Other Investments [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 206 | 0 | |||||
UNITED STATES | Equity Securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 3,537 | [5] | 4,043 | [6] | |||
UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 3,521 | 4,012 | |||||
UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 2 | 14 | |||||
UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 14 | 17 | |||||
Non-US [Member] | Equity Securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 2,582 | 3,064 | |||||
Non-US [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 2,565 | 2,866 | |||||
Non-US [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 15 | 195 | |||||
Non-US [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 2 | 3 | |||||
Successor [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 18,918 | 20,284 | [7] | $ 20,395 | |||
Successor [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 330 | 161 | $ 181 | ||||
Successor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 14 | 27 | 46 | ||||
Successor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 2 | 2 | ||||
Successor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 0 | 2 | 0 | ||||
Successor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 1 | 14 | 17 | ||||
Successor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 93 | 96 | 98 | ||||
Successor [Member] | Other Investments [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 206 | 0 | 0 | ||||
Successor [Member] | UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Fair value of plan assets | 14 | 17 | 16 | ||||
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 | 2 | 3 | $ 2 | ||||
DowDuPont [Member] | Common Stock [Member] | UNITED STATES | Equity Securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Amount of Employer and Related Party Securities Included in Plan Assets | $ 684 | $ 910 | |||||
Amount of Employer and Related Party Securities Included in Plan Assets, Percent | 4.00% | 4.00% | |||||
[1] | Primarily receivables for investments securities sold. | ||||||
[2] | Primarily receivables for investments securities sold. | ||||||
[3] | Primarily payables for investment securities purchased | ||||||
[4] | Primarily payables for investment securities purchased | ||||||
[5] | The Historical DuPont pension plans directly held $684 million (4 percent of total plan assets) of DowDuPont common stock at December 31, 2018. | ||||||
[6] | The Historical DuPont pension plans directly held $910 million (4 percent of total plan assets) of DowDuPont common stock at December 31, 2017. | ||||||
[7] | The benefit obligation and the fair value of plan assets at the beginning of the period September 1 through December 31, 2017, reflects the remeasurement of the plans at the Merger Effectiveness Time. |
Pension Plans and Other Post_16
Pension Plans and Other Post Employment Benefit Plans Summary of Fair Value Measurement of Level 3 Pension Plan Assets (Details) - Pension Plan - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Sep. 01, 2017 | Dec. 31, 2016 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | $ 20,284 | $ 18,918 | ||||||
Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 161 | 330 | ||||||
Corporate Debt Securities [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 3,181 | 3,037 | ||||||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 27 | 14 | ||||||
Asset-backed Securities [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 706 | 721 | ||||||
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 2 | 0 | ||||||
Hedge Funds [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 85 | 162 | ||||||
Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 2 | 0 | ||||||
Private Market Securities [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 14 | 1 | ||||||
Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 14 | 1 | ||||||
Real Estate [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 342 | 336 | ||||||
Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 96 | 93 | ||||||
Derivative, Asset [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 2 | 206 | ||||||
Derivative, Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 0 | 206 | ||||||
Predecessor [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | $ 19,685 | $ 16,656 | ||||||
Predecessor [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 181 | 198 | ||||||
Actual Return (Loss) on Plan Assets Sold | (19) | |||||||
Actual Return (Loss) on Plan Assets Still Held | 15 | |||||||
Purchases, Sales, and Settlements | 0 | |||||||
Assets Transferred into (out of) Level 3 | (13) | |||||||
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 | ||||||
Actual Return (Loss) on Plan Assets Sold | (20) | |||||||
Actual Return (Loss) on Plan Assets Still Held | 22 | |||||||
Purchases, Sales, and Settlements | (1) | |||||||
Assets Transferred into (out of) Level 3 | 6 | |||||||
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 | ||||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||||
Actual Return (Loss) on Plan Assets Still Held | 0 | |||||||
Purchases, Sales, and Settlements | 0 | |||||||
Assets Transferred into (out of) Level 3 | 2 | |||||||
Predecessor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 0 | 0 | ||||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||||
Actual Return (Loss) on Plan Assets Still Held | 0 | |||||||
Purchases, Sales, and Settlements | 0 | |||||||
Assets Transferred into (out of) Level 3 | 0 | |||||||
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 | ||||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||||
Actual Return (Loss) on Plan Assets Still Held | (5) | |||||||
Purchases, Sales, and Settlements | 1 | |||||||
Assets Transferred into (out of) Level 3 | (21) | |||||||
Predecessor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 98 | 98 | ||||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||||
Actual Return (Loss) on Plan Assets Still Held | 7 | |||||||
Purchases, Sales, and Settlements | (7) | |||||||
Assets Transferred into (out of) Level 3 | 0 | |||||||
Predecessor [Member] | Derivative, Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 0 | 0 | ||||||
Actual Return (Loss) on Plan Assets Sold | 0 | |||||||
Actual Return (Loss) on Plan Assets Still Held | 0 | |||||||
Purchases, Sales, and Settlements | 0 | |||||||
Assets Transferred into (out of) Level 3 | 0 | |||||||
Successor [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 20,284 | [1] | 20,395 | [1] | 18,918 | |||
Successor [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 161 | 330 | $ 181 | |||||
Actual Return (Loss) on Plan Assets Sold | (3) | (83) | ||||||
Actual Return (Loss) on Plan Assets Still Held | 6 | 72 | ||||||
Purchases, Sales, and Settlements | (23) | 202 | ||||||
Assets Transferred into (out of) Level 3 | (22) | |||||||
Successor [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 27 | 14 | 46 | |||||
Actual Return (Loss) on Plan Assets Sold | (3) | (80) | ||||||
Actual Return (Loss) on Plan Assets Still Held | 5 | 87 | ||||||
Purchases, Sales, and Settlements | (21) | (15) | ||||||
Assets Transferred into (out of) Level 3 | (5) | |||||||
Successor [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 2 | 0 | 2 | |||||
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 | (2) | |||||||
Successor [Member] | Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 2 | 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 | 2 | 0 | ||||||
Assets Transferred into (out of) Level 3 | (2) | |||||||
Successor [Member] | Private Market Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 14 | 1 | 17 | |||||
Actual Return (Loss) on Plan Assets Sold | 0 | 0 | ||||||
Actual Return (Loss) on Plan Assets Still Held | (3) | (3) | ||||||
Purchases, Sales, and Settlements | 0 | 0 | ||||||
Assets Transferred into (out of) Level 3 | (10) | |||||||
Successor [Member] | Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 96 | 93 | 98 | |||||
Actual Return (Loss) on Plan Assets Sold | 0 | 2 | ||||||
Actual Return (Loss) on Plan Assets Still Held | 4 | 0 | ||||||
Purchases, Sales, and Settlements | (6) | (3) | ||||||
Assets Transferred into (out of) Level 3 | (2) | |||||||
Successor [Member] | Derivative, Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 0 | 206 | 0 | |||||
Actual Return (Loss) on Plan Assets Sold | 0 | 0 | ||||||
Actual Return (Loss) on Plan Assets Still Held | 0 | (11) | ||||||
Purchases, Sales, and Settlements | 0 | 217 | ||||||
Assets Transferred into (out of) Level 3 | 0 | |||||||
UNITED STATES | Equity Securities [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 4,043 | [2] | 3,537 | [3] | ||||
UNITED STATES | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 17 | 14 | ||||||
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 | ||||||
Actual Return (Loss) on Plan Assets Sold | (1) | |||||||
Actual Return (Loss) on Plan Assets Still Held | (7) | |||||||
Purchases, Sales, and Settlements | 6 | |||||||
Assets Transferred into (out of) Level 3 | 0 | |||||||
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 | 14 | 16 | |||||
Actual Return (Loss) on Plan Assets Sold | 0 | (1) | ||||||
Actual Return (Loss) on Plan Assets Still Held | 1 | (4) | ||||||
Purchases, Sales, and Settlements | 0 | 3 | ||||||
Assets Transferred into (out of) Level 3 | (1) | |||||||
Non-US [Member] | Equity Securities [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Fair value of plan assets | 3,064 | 2,582 | ||||||
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 | ||||||
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 | ||||||
Actual Return (Loss) on Plan Assets Sold | 2 | |||||||
Actual Return (Loss) on Plan Assets Still Held | (2) | |||||||
Purchases, Sales, and Settlements | 1 | |||||||
Assets Transferred into (out of) Level 3 | $ 0 | |||||||
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 | $ 2 | |||||
Actual Return (Loss) on Plan Assets Sold | 0 | (4) | ||||||
Actual Return (Loss) on Plan Assets Still Held | (1) | 3 | ||||||
Purchases, Sales, and Settlements | $ 2 | 0 | ||||||
Assets Transferred into (out of) Level 3 | $ 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] | The Historical DuPont pension plans directly held $910 million (4 percent of total plan assets) of DowDuPont common stock at December 31, 2017. | |||||||
[3] | The Historical DuPont pension plans directly held $684 million (4 percent of total plan assets) of DowDuPont common stock at December 31, 2018. |
Stock-Based Compensation Stock
Stock-Based Compensation Stock Compensation (Narrative) (Details) - USD ($) $ in Millions | Aug. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |
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 | 30,000,000 | |||||
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 | $ 156 | ||||
Tax Benefit from Compensation Expense | $ 12 | 33 | ||||
Successor [Member] | Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Tax Benefit from Compensation Expense | $ 10 | |||||
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 | ||||
Tax Benefit from Compensation Expense | $ 49 | $ 39 | ||||
[1] | Represents the fair value of replacement awards issued for Historical DuPont's equity awards outstanding immediately before the Merger and attributable to the service periods prior to the Merger. The previous Historical DuPont equity awards were converted into the right to receive 1.2820 shares of DowDuPont Common Stock. |
Stock-Based Compensation Stoc_2
Stock-Based Compensation Stock Options (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Aug. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 |
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 | $ 12 | $ 33 | |||
Unrecognized Pretax Compensation Expense Related to Stock Options | $ 32 | ||||
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 | $ 15.46 | |||
Total Intrinsic Value of Stock Options Exercised | $ 19 | $ 50 | |||
Tax Benefit from Compensation Expense | $ 10 | ||||
Remaining Weighted-Average Recognition Period | 1 year 299 days | ||||
Predecessor [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Tax Benefit from Compensation Expense | $ 49 | $ 39 | |||
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 | |||
Total Intrinsic Value of Stock Options Exercised | $ 108 | $ 86 |
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, 2018 | Dec. 31, 2016 | |
Predecessor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Dividend Yield | 2.00% | 2.60% | ||
Expected Volatility | 23.21% | 28.27% | ||
Risk Free Interest Rate | 2.30% | 1.80% | ||
Expected life of stock options granted during period | 7 years 73 days | 7 years 73 days | ||
Successor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Dividend Yield | 2.20% | 2.10% | ||
Expected Volatility | 23.59% | 23.30% | ||
Risk Free Interest Rate | 2.10% | 2.80% | ||
Expected life of stock options granted during period | 7 years 73 days | 6 years 73 days |
Stock-Based Compensation Stoc_3
Stock-Based Compensation Stock Option Activity Rollforward (Details) - Successor [Member] $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options outstanding, beginning of period | shares | 15,889 |
Stock options granted during period | shares | 3,251 |
Options exercised during period | shares | (1,920) |
Option forfeited/expired during period | shares | (141) |
Options outstanding, end of period | shares | 17,079 |
Options Exercisable at End of Period | shares | 12,103 |
Options Outstanding at beginning of period, Weighted Average Exercise Price | $ / shares | $ 48.43 |
Options Granted during period, Weighted Average Exercise Price | $ / shares | 71.85 |
Options Exercised during period, Weighted Average Exercise Price | $ / shares | 44.49 |
Options Forfeited/Expired during period, Weighted Average Exercise Price | $ / shares | 56.63 |
Options Outstanding at end of period, Weighted Average Exercise Price | $ / shares | 53.26 |
Options Exercisable at End of Period, Weighted Average Exercise Price | $ / shares | $ 48.14 |
Weighted Average Remaining Contractual Term | 4 years 281 days |
Options Exercisable at End of Period, Weighted Average Remaining Contractual Term | 3 years 62 days |
Aggregate Intrinsic Value | $ | $ 909,699 |
Options Exercisable at End of Period, Aggregate Intrinsic Value | $ | $ 582,700 |
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, 2018 | Dec. 31, 2016 |
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% | |||||
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 | $ 70.37 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 965,000 | |||||
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 | 3 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 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | |||||
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 | $ 70.37 | ||||
Fair value of stock units vested | $ 9 | $ 128 | ||||
Unrecognized Pretax Compensation Expense Related to RSUs | $ 71 | |||||
Remaining Weighted-Average Recognition Period | 1 year 164 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 | ||||
Fair value of stock units vested | $ 84 | $ 83 |
Stock-Based Compensation RSU _2
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, 2018 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Nonvested Shares, Beginning of Period | 4,198 | |||
Shares Granted during the Period | 965 | |||
Shares Vested during the Period | (1,904) | |||
Shares Forfeited during the Period | (112) | |||
Nonvested Shares, End of Period | 4,198 | 3,147 | ||
Weighted Average Grant Date Fair Value, Beginning of Period | $ 68.28 | |||
Weighted Average Grant Date Fair Value, Granted during Period | 70.37 | |||
Weighted Average Grant Date Fair Value, Vested during Period | 67.49 | |||
Weighted Average Grant Date Fair Value, Forfeited during Period | 66.86 | |||
Weighted Average Grant Date Fair Value, End of Period | $ 68.28 | 68.18 | ||
Predecessor [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 | ||
Successor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted Average Grant Date Fair Value, Granted during Period | $ 70.02 | $ 70.37 |
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, 2018 | Dec. 31, 2016 | |
Successor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense | $ 83 | $ 241 | ||
Predecessor [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense | $ 264 | $ 295 |
Financial Instruments Financial
Financial Instruments Financial Instruments (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2018 | 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] | |||
Debt Securities, Held-to-maturity | $ 3,551 | $ 5,205 | |
Marketable Securities [Member] | Successor [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity | $ 34 | $ 952 |
Financial Instruments Notional
Financial Instruments Notional Amounts (Details) - Successor [Member] - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 525 | $ 587 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | 2,057 | 3,922 |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 9 | $ 6 |
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, 2018 | Dec. 31, 2016 | |
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 | $ (24) | ||
Predecessor [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Additions and revaluations of derivatives designated as cash flow hedges | $ 5 | $ 32 | ||
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 | 9 | |||
Cash Flow Hedging [Member] | Successor [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Cash Flow Hedges Derivative Instruments at Fair Value, Beginning Balance | 0 | (2) | ||
Additions and revaluations of derivatives designated as cash flow hedges | (2) | (19) | ||
Clearance of hedge results to earnings | 0 | (5) | ||
Cash Flow Hedges Derivative Instruments at Fair Value, Ending Balance | (2) | 0 | $ (26) | |
Cash Flow Hedging [Member] | Predecessor [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Cash Flow Hedges Derivative Instruments at Fair Value, Beginning Balance | $ (3) | 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 |
Financial Instruments Fair Valu
Financial Instruments Fair Value of Derivatives (Details) - Successor [Member] - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Asset, Gross | $ 72 | $ 46 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1] | (35) | (37) |
Derivative Asset | 37 | 9 | |
Derivative Liability, Gross | 21 | 79 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1] | (15) | (32) |
Derivative Liability | 6 | 47 | |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 20 | 5 | |
Other Current Assets [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Asset, Gross | 72 | 46 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1] | (35) | (37) |
Derivative Asset | 37 | 9 | |
Accrued and Other Current Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Liability, Gross | 21 | 79 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1] | (15) | (32) |
Derivative Liability | $ 6 | $ 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 $20 million and $5 million as of December 31, 2018 and 2017, respectively. |
Financial Instruments Effect of
Financial Instruments Effect of Derivative Instruments (Details) - USD ($) $ in Millions | 4 Months Ended | 8 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | ||
Successor [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ 3 | $ (24) | |||
Gain (Loss) on Derivative Instruments, Net, Pretax | 91 | 105 | |||
Successor [Member] | Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 3 | (24) | |||
Gain (Loss) on Hedging Activity | 0 | 6 | |||
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 | 99 | |||
Predecessor [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ 5 | $ 32 | |||
Gain (Loss) on Derivative Instruments, Net, Pretax | (408) | (345) | |||
Predecessor [Member] | Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 5 | 32 | |||
Gain (Loss) on Hedging Activity | 21 | (18) | |||
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) | |||
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 | [1] | 0 | 0 | ||
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 | [1] | 0 | (12) | ||
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 | [2] | 91 | 94 | ||
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 | [2] | (431) | (304) | ||
Commodity Contract [Member] | Successor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 3 | (24) | |||
Commodity Contract [Member] | Predecessor [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 5 | 32 | |||
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 | [3],[4] | 0 | 6 | ||
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 | $ 5 | ||
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 | [3],[4] | 21 | (18) | ||
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) | ||
[1] | Recorded in net sales. | ||||
[2] | Gain recognized in sundry income (expense) - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 8 for additional information. | ||||
[3] | For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period. | ||||
[4] | Recorded in cost of goods sold. |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Tables (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2017 | ||
Predecessor [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 0 | |||
Capitalized Computer Software, Impairments | 435 | |||
Predecessor [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Capitalized Computer Software, Impairments | (435) | |||
Predecessor [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | |||
Successor [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Asset | $ 72 | $ 46 | ||
Derivative Liability | 21 | 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 | 5,800 | 10,250 | ||
Successor [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity Method Investment, Other than Temporary Impairment | (41) | |||
Successor [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity Method Investments, Fair Value Disclosure | 51 | |||
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 and restricted cash equivalents | [1] | 3,551 | 5,205 | |
Marketable Securities | 34 | 952 | ||
Assets at Fair Value | 3,657 | 6,203 | ||
Long-term Debt, Fair Value | [2] | 6,100 | 11,560 | |
Liabilities at Fair Value | 6,121 | 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 | [3] | 72 | 46 | |
Derivative Liability | [3] | 21 | $ 79 | |
In Process Research and Development [Member] | Predecessor [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | (158) | |||
In Process Research and Development [Member] | Predecessor [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | $ 28 | |||
In Process Research and Development [Member] | Successor [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | (85) | |||
In Process Research and Development [Member] | Successor [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | $ 450 | |||
[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 15 for information on fair value measurements of long-term debt. | |||
[3] | See Note 20 for the classification of derivatives in the consolidated balance sheets. |
Geographic Information Revenue
Geographic 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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | ||
Predecessor [Member] | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | $ 2,991 | $ 6,971 | $ 7,319 | $ 17,281 | $ 23,209 | |||||||||
Predecessor [Member] | UNITED STATES | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 7,535 | 9,500 | ||||||||||||
Predecessor [Member] | CANADA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 583 | 669 | ||||||||||||
Predecessor [Member] | EMEA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 3,927 | 5,251 | ||||||||||||
Predecessor [Member] | Asia Pacific | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 3,844 | 5,407 | ||||||||||||
Predecessor [Member] | Latin America | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | $ 1,392 | $ 2,382 | ||||||||||||
Successor [Member] | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | $ 1,735 | $ 5,741 | $ 5,294 | $ 8,545 | $ 6,699 | $ 5,318 | $ 7,053 | $ 26,279 | ||||||
Successor [Member] | UNITED STATES | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 2,086 | 10,118 | ||||||||||||
Successor [Member] | CANADA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 139 | 767 | ||||||||||||
Successor [Member] | EMEA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 1,689 | 6,275 | ||||||||||||
Successor [Member] | Asia Pacific | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 2,047 | [1] | 6,470 | |||||||||||
Successor [Member] | Latin America | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | 1,092 | $ 2,649 | ||||||||||||
Successor [Member] | CHINA | ||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||
Net Sales | $ 818 | |||||||||||||
[1] | Net sales for China in the period September 1 through December 31, 2017 were $818 million. Net sales for China were less than 10 percent of consolidated net sales in all other periods presented. |
Geographic Information Net Prop
Geographic Information Net Property by Country (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | $ 12,186 | $ 12,435 | |
Predecessor [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | $ 8,851 | ||
Predecessor [Member] | UNITED STATES | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | 5,951 | ||
Predecessor [Member] | CANADA | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | 124 | ||
Predecessor [Member] | EMEA | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | 1,550 | ||
Predecessor [Member] | Asia Pacific | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | 797 | ||
Predecessor [Member] | Latin America | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | $ 429 | ||
Successor [Member] | UNITED STATES | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | 7,591 | 7,708 | |
Successor [Member] | CANADA | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | 163 | 170 | |
Successor [Member] | EMEA | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | 2,784 | 2,867 | |
Successor [Member] | Asia Pacific | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | 1,095 | 1,120 | |
Successor [Member] | Latin America | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Property | $ 553 | $ 570 |
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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | ||||||||||
Predecessor [Member] | ||||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||||
Net Sales | $ 2,991 | $ 6,971 | $ 7,319 | $ 17,281 | $ 23,209 | |||||||||||||||||
Cost of Goods Sold | 1,937 | 3,963 | 4,152 | 10,052 | 13,937 | |||||||||||||||||
Restructuring and Asset Related Charges - Net | 11 | [1] | 160 | [1] | 152 | [1] | 323 | 556 | ||||||||||||||
Integration and Separation Costs | 210 | 201 | 170 | 581 | 386 | |||||||||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (258) | 722 | 1,178 | [2],[3] | 1,642 | 2,082 | ||||||||||||||||
Goodwill Impairment Charge | 0 | 0 | ||||||||||||||||||||
Net (loss) income from continuing operations | (229) | [4] | 869 | [4] | 1,121 | [4] | 1,761 | 2,525 | ||||||||||||||
Net Income (Loss) Attributable to DuPont | $ (234) | $ 862 | $ 1,113 | $ 1,741 | $ 2,513 | |||||||||||||||||
Earnings per common share, continuing operations - basic | $ (0.30) | [5] | $ 0.82 | [5] | $ 1.35 | [5] | $ 1.86 | $ 2.36 | ||||||||||||||
Earnings per common share, continuing operations - diluted | $ (0.30) | [5] | $ 0.82 | [5] | $ 1.34 | [5] | $ 1.85 | $ 2.35 | ||||||||||||||
Successor [Member] | ||||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||||
Net Sales | $ 1,735 | $ 5,741 | $ 5,294 | $ 8,545 | $ 6,699 | $ 5,318 | $ 7,053 | $ 26,279 | ||||||||||||||
Cost of Goods Sold | 1,531 | [6] | 3,980 | [6] | 3,686 | [6] | 5,669 | [6] | 4,847 | [6] | 4,709 | [6] | 6,240 | 18,182 | ||||||||
Restructuring and Asset Related Charges - Net | 40 | [1] | 115 | [1] | 182 | [1] | 91 | [1] | 97 | [1] | 140 | [1] | 180 | 485 | ||||||||
Integration and Separation Costs | 71 | [7] | 449 | 344 | 327 | 255 | 243 | [7] | 314 | 1,375 | ||||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (275) | (351) | [8],[9] | (4,960) | [9],[10] | 514 | [9] | (216) | [9] | 1,362 | [9] | 1,087 | (5,013) | |||||||||
Goodwill Impairment Charge | 4,503 | [11] | 0 | 4,503 | ||||||||||||||||||
Net (loss) income from continuing operations | (295) | [4] | (351) | (4,960) | 514 | (221) | [12] | 1,305 | [4] | 1,010 | (5,018) | |||||||||||
Net Income (Loss) Attributable to DuPont | $ (293) | $ (354) | $ (4,960) | $ 513 | $ (228) | $ 1,303 | $ 1,010 | $ (5,029) | ||||||||||||||
[1] | See Note 6 for additional information. | |||||||||||||||||||||
[2] | 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. | |||||||||||||||||||||
[3] | First quarter 2017 included a tax benefit of $53 million, as well as a $47 million benefit on associated accrued interest reversals (recorded in sundry income (expense) - net), related to a reduction in the company’s unrecognized tax benefits due to the closure of various tax statutes of limitations. | |||||||||||||||||||||
[4] | Includes income (loss) from discontinued operations after taxes primarily related to the Divested Ag Business of $160 million, $137 million, $29 million, $(20) million, and $(57) million, in the first quarter 2017, second quarter 2017, the period July 1 - August 31, 2017, the period September 1 - September 30, 2017, and fourth quarter 2017, respectively. Additionally, includes income (loss) from discontinued operations after taxes primarily related to Chemours of $(217) million and $10 million, in the first quarter 2017 and second quarter 2017, respectively. See Note 4 for additional information. | |||||||||||||||||||||
[5] | 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 earningsper share amount calculated for the year. | |||||||||||||||||||||
[6] | Includes charges of $(360) million and $(1,109) million, $(703) million, $(682) million, $(109) million, and $(134) million during the period September 1 - September 30, 2017, fourth quarter 2017, first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to the amortization of inventory step-up as a result of the Merger and the acquisition of the H&N Business. See Note 3 for additional information. | |||||||||||||||||||||
[7] | Integration and separation costs were $170 million, $201 million, and $210 million in the first quarter 2017, second quarter 2017, and the period July 1 - August 31, 2017, respectively. In the Predecessor periods, costs are recorded in selling, general and administrative expenses. See Note 3 for additional information. | |||||||||||||||||||||
[8] | Includes a loss on early extinguishment of debt of $(81) million in the fourth quarter 2018 related to the retirement of some of the company's notes payable. See Note 15 for additional information. | |||||||||||||||||||||
[9] | Includes a tax benefit of $2,262 million in the fourth quarter 2017 related to The Act and a benefit related to an internal entity restructuring associated with the Intended Business Separations. Includes tax (charges) benefits of $(102) million, $(7) million, $46 million, and $(167) million in the first quarter 2018, second quarter 2018, third quarter 2018, and fourth quarter 2018, respectively, related to The Act. See Note 9 for additional information. | |||||||||||||||||||||
[10] | Includes a tax charge of $(75) million in the third quarter 2018 related to the establishment of a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil. See Note 9 for additional information. | |||||||||||||||||||||
[11] | See Note 14 for additional information | |||||||||||||||||||||
[12] | Includes loss from discontinued operations after taxes related to the Divested Ag Business of $(5) million in the first quarter 2018. See Note 4 for additional information. |
Quaterly Financial Data Quart_2
Quaterly Financial Data Quarterly Financial Data (Parentheticals) (Details) - USD ($) $ 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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | Aug. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | ||||||||
Predecessor [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Integration and Separation Costs | $ 210 | $ 201 | $ 170 | $ 581 | $ 386 | |||||||||||||||
Loss on Extinguishment of Debt | 0 | 0 | ||||||||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 119 | 443 | ||||||||||||||||||
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] | Performance Chemicals [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 10 | [1] | (217) | [1] | (207) | (5) | ||||||||||||||
Predecessor [Member] | Food Safety Diagnostic Business [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Pre-tax gain on disposal | 162 | 162 | ||||||||||||||||||
Predecessor [Member] | Divested Ag Business [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $ 29 | [1] | $ 137 | [1] | $ 160 | [1] | $ 326 | [1] | 439 | |||||||||||
Predecessor [Member] | Ownership interest in DuPont (Shenzhen) Manufacturing Limited [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Gain on sale of entity | $ 369 | |||||||||||||||||||
Successor [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory | $ (360) | $ (134) | $ (109) | $ (682) | $ (703) | $ (1,109) | $ (1,469) | $ (1,628) | ||||||||||||
Integration and Separation Costs | 71 | [2] | 449 | 344 | 327 | 255 | 243 | [2] | 314 | 1,375 | ||||||||||
Loss on Extinguishment of Debt | (81) | 0 | (81) | |||||||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (77) | (5) | ||||||||||||||||||
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 (Expense) | 2,262 | |||||||||||||||||||
Successor [Member] | Tax charge (benefit) related to The Act [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Income Tax Benefit (Expense) | $ (167) | 46 | $ (7) | (102) | ||||||||||||||||
Successor [Member] | Divested Ag Business [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $ (20) | [1] | $ 5 | $ (57) | [1] | (77) | [1] | (5) | ||||||||||||
Successor [Member] | Merger with Dow [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Business Combination, Fair Value Step-Up Of Acquired Inventory | $ (1,434) | (1,563) | ||||||||||||||||||
Brazil Valuation Allowance [Member] | Successor [Member] | ||||||||||||||||||||
Effect of Fourth Quarter Events [Line Items] | ||||||||||||||||||||
Income Tax Benefit (Expense) | $ (75) | $ 75 | ||||||||||||||||||
[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] | Integration and separation costs were $170 million, $201 million, and $210 million in the first quarter 2017, second quarter 2017, and the period July 1 - August 31, 2017, respectively. In the Predecessor periods, costs are recorded in selling, general and administrative expenses. See Note 3 for additional information. |
Subsequent Events (Details)
Subsequent Events (Details) - Securities Sold under Agreements to Repurchase [Member] $ in Millions | Feb. 28, 2019USD ($) |
Subsequent Event [Line Items] | |
Short-term Debt | $ 1,300 |
Successor [Member] | |
Subsequent Event [Line Items] | |
Percentage of outstanding amounts borrowed utilized as collateral | 105.00% |
Interest rate in addition to LIBOR | 75.00% |
Schedule II - Valuation and Q_2
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, 2018 | Dec. 31, 2016 | ||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Change in Tax Loss and Credit Carryforwards, Prior Period Restatement | $ 238 | $ 163 | $ 163 | ||
Change in Valuation Allowance, Prior Period Restatement | 238 | 163 | 163 | ||
Predecessor [Member] | SEC Schedule, 12-09, Allowance, Credit Loss [Member] | |||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 305 | 287 | 225 | ||
Additions charges to expenses | 51 | 119 | |||
Deductions from reserves | [1] | (33) | (57) | ||
Balance at end of period | 305 | 287 | |||
Predecessor [Member] | SEC Schedule, 12-09, Reserve, Inventory [Member] | |||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 274 | 214 | 237 | ||
Additions charges to expenses | 241 | 275 | |||
Deductions from reserves | [2] | (181) | (298) | ||
Balance at end of period | 274 | 214 | |||
Predecessor [Member] | SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | |||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 1,220 | 1,145 | 1,529 | ||
Additions charges to expenses | 95 | 6 | |||
Deductions from reserves | [3] | (20) | (390) | ||
Balance at end of period | 1,220 | $ 1,145 | |||
Successor [Member] | SEC Schedule, 12-09, Allowance, Credit Loss [Member] | |||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 0 | $ 10 | |||
Additions charges to expenses | 10 | 91 | |||
Deductions from reserves | [1] | 0 | (16) | ||
Balance at end of period | 10 | 0 | 85 | ||
Successor [Member] | SEC Schedule, 12-09, Reserve, Inventory [Member] | |||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 0 | 55 | |||
Additions charges to expenses | 89 | 406 | |||
Deductions from reserves | [2] | (34) | (283) | ||
Balance at end of period | 55 | 0 | 178 | ||
Successor [Member] | SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | |||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Balance at beginning of period | 1,160 | 1,140 | |||
Additions charges to expenses | 34 | 190 | |||
Deductions from reserves | [3] | (54) | (243) | ||
Balance at end of period | $ 1,140 | $ 1,160 | $ 1,087 | ||
[1] | Deductions include write-offs, recoveries and currency translation adjustments. | ||||
[2] | Deductions include disposals and currency translation adjustments. | ||||
[3] | Deductions include currency translation adjustments. |