| Statement of Financial Position, Classified (USD $) | ||
| In Millions, unless otherwise specified | Dec. 31, 2008
| Dec. 31, 2007
|
| Cash and Cash Equivalents, at Carrying Value [Abstract] | ||
| Cash and cash equivalents | $3,645 | $1,305 |
| Marketable Securities, Current [Abstract] | ||
| Marketable securities | 59 | 131 |
| Receivables, Net, Current [Abstract] | ||
| Accounts and notes receivable, net | 5,140 | 5,683 |
| Inventory, Net [Abstract] | ||
| Inventories | 5,681 | 5,278 |
| Prepaid Expense, Current [Abstract] | ||
| Prepaid expenses | 143 | 199 |
| Income taxes | 643 | 564 |
| Total current assets | 15,311 | 13,160 |
| Property, Plant and Equipment, Gross [Abstract] | ||
| Property, plant and equipment | 27,954 | 26,593 |
| Accumulated depreciation | 16,800 | 15,733 |
| Net property, plant and equipment | 11,154 | 10,860 |
| Goodwill | 2,135 | 2,074 |
| Intangible Assets, Net (Excluding Goodwill) [Abstract] | ||
| Other intangible assets | 2,710 | 2,856 |
| Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract] | ||
| Investment in affiliates | 844 | 818 |
| Other assets | 4,055 | 4,363 |
| Total assets | 36,209 | 34,131 |
| Accounts Payable and Accrued Liabilities [Abstract] | ||
| Accounts Payable | 3,128 | 3,172 |
| Debt, Current [Abstract] | ||
| Short-term borrowings and capital lease obligations | 2,012 | 1,370 |
| Income taxes | 110 | 176 |
| Other accrued liabilities | 4,460 | 3,823 |
| Total current liabilities | 9,710 | 8,541 |
| Long-term Debt and Capital Lease Obligations [Abstract] | ||
| Long-term borrowings and capital lease obligations | 7,638 | 5,955 |
| Other liabilities | 11,169 | 7,255 |
| Deferred income taxes | 140 | 802 |
| Total liabilities | 28,657 | 22,553 |
| Minority Interest [Abstract] | ||
| Minority interests | 427 | 442 |
| Stockholders' Equity [Abstract] | ||
| Preferred stock, without par value-cumulative; 23,000,000 shares authorized; issed at December 31, 2008 and 2007 | 23 | 23 |
| Common stock, $0.30 par value; 1,800,000,000 shares authorized; Issed at December 31, 2008 - 989,415,000; 2007- 986,330,000 | 297 | 296 |
| Common Stock, Par or Stated Value Per Share | 0.3 | 0.3 |
| Common Stock, Shares Authorized | 1,800 | 1,800 |
| Common Stock, Shares, Issued | 989 | 986 |
| Additional Paid in Capital [Abstract] | ||
| Additional paid-in capital | 8,380 | 8,179 |
| Retained Earnings (Accumulated Deficit) [Abstract] | ||
| Reinvested earnings | 10,456 | 9,945 |
| Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
| Accumulated other comprehensive loss | (5,518) | (794) |
| Common stock held in treasury, at cost (Shares: December 31, 2008 and 2007 - 87,041,000) | (6,727) | (6,727) |
| Treasury Stock, Shares | 87 | 87 |
| Total stockholders' equity | 7,125 | 11,136 |
| Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
| Total liabilities and stockholders' equity | 36,209 | 34,131 |
| Preferred Stock $4.50 Series- 1,673,000 shares (callable at $120) | ||
| Stockholders' Equity [Abstract] | ||
| Preferred stock, without par value-cumulative; 23,000,000 shares authorized; issued at December 31, 2008 and 2007: $4.50 Series- 1,673,000 shares (callable at $120) $3.50 series - 700,000 shares (callable at $102) | 167 | 167 |
| Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
| Preferred stock, shares issued | 2 | 2 |
| Preferred Stock $3.50 Series - 700,000 shares (callable at $102) | ||
| Stockholders' Equity [Abstract] | ||
| Preferred stock, without par value-cumulative; 23,000,000 shares authorized; issued at December 31, 2008 and 2007: $4.50 Series- 1,673,000 shares (callable at $120) $3.50 series - 700,000 shares (callable at $102) | $70 | $70 |
| Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
| Preferred stock, shares issued | 1 | 1 |
| Statement of Income (Excluding Gross Margin Alternative) (USD $) | |||
| In Millions, unless otherwise specified | 12 Months Ended
Dec. 31, 2008 | 12 Months Ended
Dec. 31, 2007 | 12 Months Ended
Dec. 31, 2006 |
| Sales Revenue, Net [Abstract] | |||
| Net Sales | $30,529 | $29,378 | $27,421 |
| Other income, net | 1,307 | 1,275 | 1,561 |
| Total | 31,836 | 30,653 | 28,982 |
| Cost of Goods Sold [Abstract] | |||
| Cost of goods sold and other operating charges | 24,083 | 21,746 | 20,636 |
| Selling, General and Administrative Expense [Abstract] | |||
| Selling, general and administrative expenses | 3,593 | 3,396 | 3,255 |
| Research and Development Expense [Abstract] | |||
| Research and development expense | 1,393 | 1,338 | 1,302 |
| Interest Expense [Abstract] | |||
| Interest expense | 376 | 430 | 460 |
| Total expenses | 29,445 | 26,910 | 25,653 |
| Income before income taxes and minority interests | 2,391 | 3,743 | 3,329 |
| Income Tax Expense (Benefit) [Abstract] | |||
| Provision for income taxes | 381 | 748 | 196 |
| Minority Interest in Net Income (Loss) of Consolidated Entities [Abstract] | |||
| Minority interests in earnings (losses) of consolidated subsidiaries | 3 | 7 | (15) |
| Net income | $2,007 | $2,988 | $3,148 |
| Earnings Per Share, Basic [Abstract] | |||
| Basic earnings per share of common stock | 2.21 | 3.25 | 3.41 |
| Earnings Per Share, Diluted [Abstract] | |||
| Diluted earnings per share of common stock | 2.2 | 3.22 | 3.38 |
| Statement of Shareholders' Equity and Other Comprehensive Income (USD $) | |||||||
| In Millions | Common Stock [Member]
| Preferred Stock [Member]
| Additional Paid-in Capital [Member]
| Treasury Stock [Member]
| Retained Earnings [Member]
| Accumulated Other Comprehensive Income [Member]
| Total
|
| Stockholders' Equity, Beginning Balance at Dec. 31, 2005 | $302 | $237 | $7,678 | ($6,727) | $7,990 | ($518) | $8,962 |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
| Net income | 3,148 | 3,148 | |||||
| Cumulative translation adjustment | 77 | 77 | |||||
| Net revaluation and clearance of cash flow hedges to earnings | 15 | 15 | |||||
| Minimum pension liability | 106 | 106 | |||||
| Net unrealized gain (loss) on securities | 8 | 8 | |||||
| Common Dividends | (1,368) | (1,368) | |||||
| Preferred dividends | (10) | (10) | |||||
| Common stock issued- compensation plans | 2 | 317 | 319 | ||||
| Common stock repurchased | (180) | (100) | (280) | ||||
| Common stock retired | (1) | (18) | 100 | (81) | 0 | ||
| Adjustment to initially apply defined benefit plan standard, net of tax of $1,043 and minority interest of $8 | (1,555) | (1,555) | |||||
| Stockholders' Equity, Ending Balance at Dec. 31, 2006 | 303 | 237 | 7,797 | (6,727) | 9,679 | (1,867) | 9,422 |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
| Net income | 2,988 | 2,988 | |||||
| Cumulative translation adjustment | 94 | 94 | |||||
| Net revaluation and clearance of cash flow hedges to earnings | 24 | 24 | |||||
| Pension benefit plans | 640 | 640 | |||||
| Other benefit plans | 310 | 310 | |||||
| Net unrealized gain (loss) on securities | 5 | 5 | |||||
| Common Dividends | (1,399) | (1,399) | |||||
| Preferred dividends | (10) | (10) | |||||
| Common stock issued- compensation plans | 3 | 638 | 641 | ||||
| Common stock repurchased | (1,695) | (1,695) | |||||
| Common stock retired | (10) | (256) | 1,695 | (1,429) | 0 | ||
| Adjustment to initially apply uncertainty in income taxes standard | 116 | 116 | |||||
| Stockholders' Equity, Ending Balance at Dec. 31, 2007 | 296 | 237 | 8,179 | (6,727) | 9,945 | (794) | 11,136 |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
| Net income | 2,007 | 2,007 | |||||
| Cumulative translation adjustment | (120) | (120) | |||||
| Net revaluation and clearance of cash flow hedges to earnings | (199) | (199) | |||||
| Pension benefit plans | (4,122) | (4,122) | |||||
| Other benefit plans | (272) | (272) | |||||
| Net unrealized gain (loss) on securities | (11) | (11) | |||||
| Common Dividends | (1,486) | (1,486) | |||||
| Preferred dividends | (10) | (10) | |||||
| Common stock issued- compensation plans | 1 | 201 | 202 | ||||
| Stockholders' Equity, Ending Balance at Dec. 31, 2008 | $297 | $237 | $8,380 | ($6,727) | $10,456 | ($5,518) | $7,125 |
| Statement of Cash Flows (USD $) | |||
| In Millions | 12 Months Ended
Dec. 31, 2008 | 12 Months Ended
Dec. 31, 2007 | 12 Months Ended
Dec. 31, 2006 |
| Income (Loss) from Continuing Operations [Abstract] | |||
| Net income | $2,007 | $2,988 | $3,148 |
| Depreciation [Abstract] | |||
| Depreciation | 1,169 | 1,158 | 1,157 |
| Adjustment for Amortization [Abstract] | |||
| Amortization of Intangible Assets | 275 | 213 | 227 |
| Deferred Income Taxes and Tax Credits [Abstract] | |||
| Deferred tax expense (benefit) | 43 | 31 | (615) |
| Other noncash charges and credits - net | 817 | 365 | 288 |
| Contributions to pension plans | (252) | (277) | (280) |
| Increase (Decrease) in Receivables [Abstract] | |||
| Decrease (increase) in Accounts and notes receivable | 488 | (214) | (194) |
| Increase (Decrease) in Inventories [Abstract] | |||
| (Increase) decrease in inventories and other operating assets | (663) | (267) | (61) |
| (Decrease) increase in Accounts payable and other operating liabilities | (515) | 470 | 335 |
| Increase (Decrease) in Accrued Liabilities [Abstract] | |||
| Decrease in Accrued interest and income taxes | (240) | (177) | (269) |
| Cash provided by operating activities | 3,129 | 4,290 | 3,736 |
| Payments to Acquire Property, Plant, and Equipment [Abstract] | |||
| Purchases of property, plant and equipment | (1,978) | (1,585) | (1,532) |
| Payments to Acquire Interest in Subsidiaries and Affiliates [Abstract] | |||
| Investments in affiliates | (55) | (113) | (31) |
| Payments to Acquire Businesses, Net of Cash Acquired [Abstract] | |||
| Payments for businesses - net of cash acquired | (144) | (13) | (60) |
| Proceeds from sale of assets - net of cash sold | 50 | 251 | 148 |
| Payments for (Proceeds from) Short-term Investments, Alternative [Abstract] | |||
| Net decrease (increase) in short-term financial instruments | 40 | (39) | 37 |
| Forward exchange contract settlements | 508 | (285) | 45 |
| Other investing activities - net | (31) | 34 | 48 |
| Cash used for investing activities | (1,610) | (1,750) | (1,345) |
| Payments of Ordinary Dividends [Abstract] | |||
| Dividends paid to stockholders | (1,496) | (1,409) | (1,378) |
| Proceeds from (Repayments of) Short-term Debt [Abstract] | |||
| Net (decrease) increase in short-term (less than 90 days) borrowings | (891) | 1,117 | (263) |
| Proceeds from (Repayments of) Long-term Debt and Capital Securities [Abstract] | |||
| Receipts of long-term and other borrowings | 3,527 | 1,998 | 2,611 |
| Payments of long-term and other borrowings | (547) | (3,458) | (3,139) |
| Payments for Repurchase of Equity [Abstract] | |||
| Repurchase of common stock | 0 | (1,695) | (280) |
| Proceeds from Issuance or Sale of Equity [Abstract] | |||
| Proceeds from exercise of stock options | 94 | 445 | 148 |
| Proceeds from termination of interest rate swap | 226 | 0 | 0 |
| Other financing activities - net | (35) | (67) | (22) |
| Cash provided by (used for) financing activities | 878 | (3,069) | (2,323) |
| Effect of Exchange Rate on Cash and Cash Equivalents [Abstract] | |||
| Effect of exchange rate changes on cash | (57) | 20 | 10 |
| Increase (decrease) in cash and cash equivalents | 2,340 | (509) | 78 |
| Cash and cash equivalents at beginning of year | 1,305 | 1,814 | 1,736 |
| Cash and cash equivalents at end of year | 3,645 | 1,305 | 1,814 |
| Cash paid for interest, net of amounts capitalized | 336 | 527 | 295 |
| Cash paid during the year for taxes | $609 | $795 | $899 |
| Notes to the Consolidated Financial Statements | |
| 12 Months Ended
Dec. 31, 2008 | |
| Notes to the Consolidated Financial Statements | |
| Summary of Significant Accounting Policies | 1. Summary of Significant Accounting Policies The company follows generally accepted accounting principles in the United States of America (GAAP). The significant accounting policies described below, together with the other notes that follow, are an integral part of the Consolidated Financial Statements. Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. Actual results could differ from those estimates. Basis of Consolidation The Consolidated Financial Statements include the accounts of the company, subsidiaries in which a controlling interest is maintained and variable interest entities (VIE) for which DuPont is the primary beneficiary. For those consolidated subsidiaries in which the company's ownership is less than 100percent, the outside stockholders' interests are shown as minority interests. Investments in affiliates over which the company has significant influence but not a controlling interest are carried on the equity basis. This includes majority-owned entities for which the company does not consolidate because a minority investor holds substantive participating rights. Investments in affiliates over which the company does not have significant influence are accounted for by the cost method or as available-for-sale securities. Gains or losses arising from issuances by an affiliate or a subsidiary of its own stock are recorded as non-operating items. Revenue Recognition The company recognizes revenue when the earnings process is complete. The company's revenues are from the sale of a wide range of products to a diversified base of customers around the world. Revenue for product sales is recognized upon delivery, when title and risk of loss have been transferred, collectibility is reasonably assured and pricing is fixed or determinable. Substantially all product sales are sold FOB (free on board) shipping point or, with respect to non-U.S. customers, an equivalent basis. Accruals are made for sales returns and other allowances based on the company's experience. The company accounts for cash sales incentives as a reduction in sales and noncash sales incentives as a charge to cost of goods sold or selling expense, depending on the nature of the incentive. Amounts billed to customers for shipping and handling fees are included in net sales and costs incurred by the company for the delivery of goods are classified as cost of goods sold and other operating charges in the Consolidated Income Statements. Taxes on revenue-producing transactions are excluded from net sales. The company periodically enters into prepayment contracts with customers in the Agriculture Nutrition segment and receives advance payments for product to be delivered in future periods. These advance payments are recorded as deferred revenue and are included in other accrued liabilities on the Consolidated Balance Sheets. |
| Effect of Implementation of FASB Statement of Financial Accounting Standards No. 157 "Fair Value Measurements" (SFAS 157) | 2.IMPLEMENTATIONOFFASBSTATEMENTOFFINANCIALACCOUNTINGSTANDARDS NO. 157 "FAIRVALUE MEASUREMENTS" (SFAS 157) Effective January 1, 2008, the company prospectively implemented the provisions of SFAS 157 for financial assets and financial liabilities reported or disclosed at fair value. As permitted by FASB Staff Position No. FAS 157-2, the company elected to defer implementation of the provisions of SFAS 157 for non-financial assets and non-financial liabilities until January 1, 2009, except for non-financial items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). The company uses the following valuation techniques to measure fair value for its financial assets and financial 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) At December 31, 2008, the following financial assets and financial liabilities were measured at fair value on a recurring basis using the type of inputs shown: Financial assets December 31, Fair Value Measurements at December 31, 2008 Using 2008 Level 1 Inputs Level 2 Inputs Level 3 Inputs Derivatives $ 96 $ - $ 96 $ - Available-for-sale securities 22 22 - - $ 118 $ 22 $ 96 $ - Financial liabilities December 31, Fair Value Measurements at December 31, 2008 Using 2008 Level 1 Inputs Level 2 Inputs Level 3 Inputs Derivatives $ 563 $ - $ 563 $ - |
| Other Income, Net | 3. Other Income, net |
| Interest Expense | 4. Interest Expense 2008 2007 2006 Interest incurred $ 425 $ 475 $ 497 Interest capitalized (49) (45) (37) $ 376 $ 430 $ 460 |
| Restructuring Activities | 5. RESTRUCTURING ACTIVITIES During 2008, the company initiated a global restructuring program described below. Employee separation payments, net of exchange impact, of $47 associated with 2006 restructuring activities were made in 2008. At December 31, 2008, total liabilities relating to current and prior restructuring activities were $345. 2008 Activities In response to the challenging economic environment, the company initiated a global restructuring program during 2008 to reduce costs and improve profitability across its businesses. The program includes the elimination of approximately 2,500 positions principally located in Western Europe and the United States of America (U.S.) primarily supporting the motor vehicle and construction markets. As a result, a charge of $535 was recorded in cost of goods sold and other operating charges. This charge includes $287 related to employee severance costs and $248 of asset-related charges, including $111 for asset shut-downs, $119 for asset impairments and $18 of other non-personnel charges. The 2008 program charge reduced the 2008 segment earnings as follows: Agriculture Nutrition - $18; Coatings Color Technologies - $236; Electronic Communication Technologies - $55; Performance Materials - $94; Safety Protection - $101; and Other - $31. Essentially all employee terminations related to this program will begin in the first quarter of 2009. The program is estimated to be substantially completed in 2010. There were no cash payments related to this program in 2008. Account balances and activity for the 2008 restructuring program are summarized below: Asset - Related Employee Separation Costs Other Non-personnel Charges Total Net charges to income in 2008 $ 230 $ 287 $ 18 $ 535 Charges to accounts Asset write-offs (230) - (2) (232) Net Translation Adjustment - 19 1 20 Other - 3 - 3 Balance at December 31, 2008 $ - $ 309 $ 17 $ 326 |
| Provision for Income Taxes | 6. Provision for Income Taxes 2008 2007 2006 Current tax expense (benefit): U.S. federal $ 14 $ 372 $ 505 U.S. state and local (3) 10 (1) International 327 335 307 338 717 811 Deferred tax expense (benefit): U.S. federal 210 92 (297) U.S. state and local - (21) (18) International (167) (40) (300) 43 31 (615) Provision for income taxes $ 381 $ 748 $ 196 Stockholders' equity: Stock compensation1 (3) (25) (2) Net revaluation and clearance of cash flow hedges to earnings2 (113) 15 9 Net unrealized (losses) gains on securities2 (5) 2 3 Minimum pension liability2 - - 248 Pension benefits Net losses 3 (2,209) 383 (1,048) Prior service cost 3 5 5 (51) Other benefits Net losses 3 (113) 223 (391) Net prior service benefit 3 (38) (55) 447 $(2,095) $ 1,296 $ (589) |
| Earnings Per Share Of Common Stock | 7. Earnings Per Share of Common Stock |
| Accounts and Notes Receivable | 8. Accounts and Notes Receivable December 31, 2008 2007 Accounts and notes receivable-trade, net of allowances of $238 in 2008 and $261 in 2007 $ 3,838 $ 4,649 Other 1 1,302 1,034 $ 5,140 $ 5,683 |
| Inventory | 9. Inventories |
| Property, plant and equipment | 10. Property, Plant and Equipment |
| Goodwill and Other Intangible Assets | 11. Goodwill and Other Intangible Assets Goodwill |
| Summarized Financial Information for Affiliated Companies | 12. Summarized Financial Information for Affiliated Companies |
| Other Assets | 13. Other Assets |
| Accounts Payable | 14. Accounts Payable |
| Short-Term Borrowings and Capital Lease Obligations | 15. Short-Term Borrowings and Capital Lease Obligations |
| Other Accrued Liabilities | 16. Other Accrued Liabilities December 31, 2008 2007 Compensation and other employee-related costs $ 841 $ 905 Deferred revenue 1,037 981 Employee benefits (Note 21) 459 427 Discounts and rebates 331 394 Derivative Instruments 487 27 Miscellaneous 1,305 1,089 $ 4,460 $ 3,823 |
| Long-Term Borrowings and Capital Lease Obligations | 17. Long-Term Borrowings and Capital Lease Obligations December 31, 2008 2007 U.S. dollar: Industrial development bonds due 2026, 2029 1 $ 50 $ 50 Medium-term notes due 2013 - 2041 2 432 457 5.75% notes due 2009 3 200 200 5.88% notes due 2009 3 401 404 6.88% notes due 2009 3,4 894 889 4.125% notes due 2010 4 936 914 4.75% notes due 2012 400 400 5.00% notes due 2013 749 748 5.00% notes due 2013 743 - 5.875% notes due 2014 995 - 4.875% notes due 2014 497 497 5.25% notes due 2016 598 598 6.00% notes due 2018 5 1,463 - 6.50% debentures due 2028 299 298 5.60% notes due 2036 395 395 Other loans (average interest rate of 3.9 percent) 3 24 24 Foreign currency denominated loans: Euro loans (average interest rate of 3.2 percent) 3 4 22 Other loans (various currencies) 3 114 70 9,194 5,966 Less short-term portion of long-term debt 1,563 21 7,631 5,945 Capital lease obligations 7 10 Total $ 7,638 $ 5,955 |
| Other Liabilities | 18. Other Liabilities |
| Commitments and Contingent Liabilities | 19. Commitments and Contingent Liabilities Guarantees Product Warranty Liability The company warrants that its products meet standard specifications. The company's product warranty liability as of December31, 2008 and 2007 was $24 and $23, respectively. Estimates for warranty costs are based on historical claims experience. Indemnifications In connection with acquisitions and divestitures, 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 transaction. 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. The carrying amount recorded for all indemnifications as of December 31, 2008 and December 31, 2007 was $110 and $101, respectively. Although it is reasonably possible that future payments may exceed amounts accrued, due to the nature of indemnified items, it is not possible to make a reasonable estimate of the maximum potential loss or range of loss. No assets are held as collateral and no specific recourse provisions exist. In connection with the 2004 sale of the majority of the net assets of Textiles and Interiors, the company indemnified the purchasers, subsidiaries of Koch Industries, Inc. (INVISTA), against certain liabilities primarily related to taxes, legal and environmental matters and other representations and warranties under the Purchase and Sale Agreement. The estimated fair value of the indemnity obligations under the Purchase and Sale Agreement was $70 and was included in the indemnifications balance of $110 at December 31, 2008. Under the Purchase and Sale Agreement, the company's total indemnification obligation for the majority of the representations and warranties cannot exceed $1,400. The other indemnities are not subject to this limit. In March 2008, INVISTA filed suit in the Southern District of New York alleging that certain representations and warranties in the Purchase and Sale Agreement were breached and, therefore, that DuPont is obligated to indemnify it. DuPont disagrees with the extent and value of INVISTA's claims. DuPont has not changed its estimate of its total indemnification obligation under the Purchase and Sale Agreement as a result of the lawsuit. Obligations for Equity Affiliates Others The company has directly guaranteed various debt obligations under agreements with third parties related to equity affiliates, customers, suppliers and other affiliated and unaffiliated companies. At December 31, 2008, the company |
| Stockholder's Equity | 20. Stockholders' Equity The company's Board of Directors authorized a $2 billion share buyback plan in June 2001. During 2008 and 2007, there were no purchases of stock under this program. During 2005, the company purchased and retired 9.9 million shares at a total cost of $505. As of December 31, 2008, the company has purchased 20.5 million shares at a total cost of $962. Management has not established a timeline for the buyback of the remaining stock under this plan. In addition to the plan described above, in October 2005 the Board of Directors authorized a $5 billion share buyback plan. The company entered into an accelerated share repurchase agreement with Goldman Sachs Co. (Goldman Sachs) under which the company purchased and retired 75.7 million shares of DuPont's outstanding common stock from Goldman Sachs on October 27, 2005 at a price of $39.62 per share, with Goldman Sachs purchasing an equivalent number of shares in the open market over the following nine-month period. On July 27, 2006, Goldman Sachs completed its purchase of 75.7 million shares of DuPont's common stock at a volume weighted average price (VWAP) of $41.99 per share. Upon the conclusion of the agreement in 2006, the company paid $180 in cash to Goldman Sachs to settle the agreement. The final settlement price was based upon the difference between the VWAP per share for the nine-month period, which ended July 27, 2006, and the purchase price of $39.62 per share. The amount paid to settle the contract was recorded as a reduction to Additional paid-in capital during the third quarter 2006. In addition, the company made open market purchases of its shares in the third quarter 2006 for $100 at an average price of $42.27 per share. During 2007, the company paid $1.7 billion to purchase and immediately retire 34.7 million shares at an average price of $48.85 per share. As of December 31, 2007, the company has completed the $5 billion share buyback plan with the purchase and retirement of 112.8 million shares at an average price of $44.33 per share. Common stock held in treasury is recorded at cost. When retired, the excess of the cost of treasury stock over its par value is allocated between reinvested earnings and additional paid-in capital. Set forth below is a reconciliation of common stock share activity for the three years ended December31, 2008: Shares of common stock Issued Held In Treasury Balance January 1, 2006 1,006,652,000 (87,041,000) Issued 4,823,000 - Repurchased - (2,366,000) Retired (2,366,000) 2,366,000 Balance December 31, 2006 1,009,109,000 (87,041,000) Issued 11,916,000 - Repurchased - (34,695,000) Retired (34,695,000) 34,695,000 Balance December 31, 2007 986,330,000 (87,041,000) Issued 3,085,000 - Balance December 31, 2008 989,415,000 (87,041,000) |
| Long-term Employee Benefits | 21. LONG-TERM Employee Benefits |
| Compensation Plans | 22. Compensation Plans Effective January 1, 2006, the company adopted SFAS 123R using the modified prospective application transition method. As a result of the adoption of the fair value recognition provisions of SFAS 123, as amended, prospectively on January 1, 2003, the adoption of SFAS 123R did not have a material impact on the company's financial position or results of operations. Prior to adoption of SFAS 123R, the nominal vesting approach was followed for all awards. Upon adoption of SFAS 123R on January 1, 2006, the company began expensing new stock-based compensation awards using a non-substantive approach, under which compensation costs are recognized over at least six months for awards granted to employees who are retirement eligible at the date of the grant or would become retirement eligible during the vesting period of the grant. Prior to the adoption of SFAS 123R, the company reported the tax benefit of stock option exercises as operating cash flows. Upon the adoption of SFAS 123R, tax benefits resulting from tax deductions in excess of compensation cost recognized for those options or restricted stock units are reported as financing cash flows. |
| Derivatives and Other Hedging Instruments | 23. Derivatives and Other Hedging 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 under established procedures and controls. The company has established a variety of approved derivative instruments to be utilized in each risk management program, as well as varying levels of exposure coverage and time horizons based on an assessment of risk factors related to each hedging program. Derivative instruments utilized during the period include forwards, options, futures and swaps. The company has not designated any non-derivatives as hedging instruments. The corporate financial risk management policy establishes an oversight committee and risk management guidelines that authorize the use of specific derivative instruments and further establishes procedures for control and valuation, counterparty credit approval and routine 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 manages this exposure to credit loss through the aforementioned credit approvals, limits and monitoring procedures and, to the extent possible, by restricting the period over which unpaid balances are allowed to accumulate. The company does not anticipate nonperformance by counterparties to these contracts and no material loss would be expected from such nonperformance. Market and counterparty credit risks associated with these instruments are regularly reported to management. The company hedges foreign currency-denominated monetary assets and liabilities, certain foreign currency-denominated revenues, certain business specific foreign currency exposures, and certain energy type and agricultural feedstock purchases. Fair Value Hedges During the year ended December31, 2008, the company maintained a number of interest rate swaps that involve the exchange of fixed for floating rate interest payments which allows the company to maintain a target range of floating rate debt. All interest rate swaps qualify for the shortcut method of hedge accounting, thus there is no ineffectiveness related to these hedges. Changes in the fair value of derivatives that hedge interest rate risk are recorded in interest expense each period. The offsetting changes in the fair values of the related debt are also recorded in interest expense. The company maintains no other fair value hedges. During the fourth quarter of 2008, interest rate swaps were terminated with a combined notional amount of $1.25 billion for cash proceeds of $226, which are classified within financing cash flows in the Consolidated Statements of Cash Flows. This gain will be amortized to earnings as a reduction to interest expense over the remaining life of the debt, through 2018. Cash Flow Hedges The company maintains a number of cash flow hedging programs to reduce risks related to foreign currency and commodity p |
| Geographic Information | 24. Geographic Information 2008 2007 2006 Net Sales1 Net Property2 Net Sales1 Net Property2 Net Sales1 Net Property2 United States $ 11,091 $ 7,784 $11,277 $ 7,687 $11,123 $ 7,449 Europe Belgium $ 350 $ 157 $ 346 $ 166 $ 218 $ 176 Germany 2,220 309 2,045 319 1,826 319 France 1,072 115 1,039 121 992 120 Italy 912 28 864 27 832 26 Luxembourg 88 247 79 232 60 200 The Netherlands 240 229 187 275 213 283 Spain 521 297 466 184 455 162 United Kingdom 605 138 641 142 617 147 Other 3,478 332 3,162 288 2,708 303 Total Europe $ 9,486 $ 1,852 $ 8,829 $ 1,754 $ 7,921 $ 1,736 Asia Pacific China/Hong Kong $ 1,656 $ 309 $ 1,594 $ 270 $ 1,415 $ 210 India 485 60 424 31 345 30 Japan 1,302 102 1,187 105 1,103 114 Taiwan 420 132 427 128 447 116 Korea 534 78 551 80 569 78 Singapore 153 42 152 44 150 38 Other 933 39 842 35 730 37 Total Asia Pacific $ 5,483 $ 762 $ 5,177 $ 693 $ 4,759 $ 623 Canada Latin America Brazil $ 1,775 $ 300 $ 1,485 $ 282 $ 1,191 $ 275 Canada 907 157 963 161 921 146 Mexico 843 225 801 211 810 205 Argentina 335 28 325 30 271 30 Other 609 46 521 42 425 34 Total Canada Latin America $ 4,469 $ 756 $ 4,095 $ 726 $ 3,618 $ 690 Total $ 30,529 $ 11,154 $29,378 $ 10,860 $27,421 $ 10,498 1 Net sales are attributed to countries based on the location of the customer. 2 Includes property, plant and equipment less accumulated depreciation. |
| Segment Information | 25. Segment Information The company has six reportable segments. Five of the segments constitute the company's growth segments: Agriculture Nutrition, Coatings Color Technologies, Electronic Communication Technologies, Performance Materials and Safety Protection. The sixth segment, Pharmaceuticals, is limited to income from the company's interest in two drugs, Cozaar(R) and Hyzaar(R). Major products by segment include: Agriculture Nutrition (hybrid seed corn and soybean seed, herbicides, fungicides, insecticides, value enhanced grains and soy protein); Coatings Color Technologies (automotive finishes, industrial coatings and white pigments); Electronic Communication Technologies (fluorochemicals, fluoropolymers, photopolymers and electronic materials); Performance Materials (engineering polymers, packaging and industrial polymers, films and elastomers); Safety Protection (specialty and industrial chemicals, nonwovens, aramids and solid surfaces); and Pharmaceuticals (representing the company's interest in the collaboration relating to Cozaar(R)/Hyzaar(R) antihypertensive drugs, which is reported as other income). The company operates globally in substantially all of its product lines. In general, the accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies. Exceptions are noted as follows and are shown in the reconciliations below. Prior years' data have been reclassified to reflect the 2008 organizational structure. Segment sales include transfers to another business segment. Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products. Segment pre-tax operating income/(loss) (PTOI) is defined as operating income before income taxes, minority interests, exchange gains/(losses), corporate expenses, interest and the cumulative effect of changes in accounting principles. Segment net assets includes net working capital, net permanent investment and other noncurrent operating assets and liabilities of the segment. Affiliate net assets (pro rata share) excludes borrowing and other long-term liabilities. Depreciation and amortization includes depreciation on research and development facilities and amortization of other intangible assets, excluding write-down of assets which is discussed in Note5. Expenditures for long-lived assets exclude investments in affiliates and include payments for property, plant and equipment as part of business acquisitions. Agriculture Nutrition Coatings Color Technologies Electronic Communication Technologies Performance Materials Safety Protection Pharma-ceuticals Other Total 2008 Segment sales $7,952 $ 6,606 $ 3,988 $ 6,425 $ 5,729 $ - $160 $30,860 Less transfers - (55) (121) (39) (98) - (18) (331) Net sales 7,952 6,551 3,867 6,386 5,631 - 142 30,529 Pretax operating income (loss) 1,087 326 436 128 829 1,025 (181) 3,650 Depreciation and amortization 460 217 175 219 196 - 4 |
| Quarterly Financial Data (Unaudited) | 26. Quarterly Financial Data (Unaudited) For the quarter ended March 31, June 30, September 30, December 31, 2008 Net sales $ 8,575 $ 8,837 $ 7,297 $ 5,820 Cost of goods sold and other expenses1 7,220 7,773 7,149 6,927 Income (loss) before income taxes and minority interests 1,470 1,412 470 3 (961) 4 Net income (loss) 1,191 1,078 367 (629) Basic earnings (loss) per share of common stock2 1.32 1.19 0.40 (0.70) Diluted earnings (loss) per share of common stock2 1.31 1.18 0.40 (0.70) 2007 Net sales $ 7,845 $ 7,875 $ 6,675 $ 6,983 Cost of goods sold and other expenses1 6,750 6,823 6,297 6,610 Income before income taxes and minority interests 1,312 5 1,308 630 6 493 7 Net income 945 972 526 545 8 Basic earnings per share of common stock2 1.02 1.05 0.57 0.60 Diluted earnings per share of common stock2 1.01 1.04 0.56 0.60 1 Excludes interest expense and nonoperating items. 2 Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations. 3 Includes a $227 charge for damaged facilities, inventory write-offs, clean-up costs, and other costs related to the Hurricanes Ike and Gustav. 4 Includes a $535 charge for employee separation payments and asset-related charges associated with the 2008 global restructuring program. 5 Includes a net $52 charge for existing litigation in the Performance Materials segment in connection with the elastomers antitrust matter. See Note 19 for more details. 6 Includes a $40 charge for existing litigation in Other relating to a former business. See Note 19 under the heading Spelter, West Virginia, for more details. 7 Includes an impairment charge of $165 to write down the company's investment in a polyester films joint venture in the Performance Materials segment. This charge was partially offset by a net $32 benefit resulting from the reversal of certain litigation accruals in the Performance Materials segment established in prior periods for the elastomers antitrust matter (see Note 19 for more details) and a $6 benefit for the reversal of accrued interest associated with the favorable settlement of certain prior year tax contingencies. 8 Includes a benefit of $108 for the reversal of income tax accruals associated with the favorable settlement of certain prior year tax contingencies. |
| Document Information | |
| 12 Months Ended
Dec. 31, 2008 | |
| Document Information [Line Items] | |
| Document Type | 10-K |
| Amendment Flag | false |
| Document Period End Date | 2008-12-31 |
| Entity Information (USD $) | |||
| In Millions | 12 Months Ended
Dec. 31, 2008 | Jan. 31, 2009
| Jun. 30, 2008
|
| Entity Information [Line Items] | |||
| Entity Registrant Name | E.I. DU PONT DE NEMOURS AND COMPANY | ||
| Entity Central Index Key | 0000030554 | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Entity Public Float | $38,600 | ||
| Entity Common Stock, Shares Outstanding | 903 |
