Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | OLIN CORPORATION |
Entity Central Index Key | 0000074303 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE The following table shows the total compensation for our NEOs as set forth in the Summary Compensation Table (SCT), the compensation actually paid (CAP) to our NEOs, Olin’s total shareholder return (TSR), the TSR of our peer group, our Net Income (Loss), and our Adjusted EBITDA. The CAP is calculated in accordance with Item 402(v) of Regulation S-K and is subject the adjustments contained therein which may differ materially from our NEOs cash compensation as paid by Olin. Dollar amounts in the table below for Net Income (Loss) and Adjusted EBITDA are shown in millions. Year SCT Total for First CEO SCT Total for Second CEO Average SCT Total for Other NEOs CAP to CAP to Second CEO Average CAP to Other NEOs TSR Peer Group TSR Net Income (Loss) Adjusted EBITDA 2022 $ 10,745,566 N/A $ 2,386,281 $ 8,902,735 N/A $ 572,337 $ 336 $ 119 $ 1,326.9 $ 2,427.8 2021 $ 10,105,293 N/A $ 3,217,587 $ 41,203,583 N/A $ 11,724,673 $ 359 $ 126 $ 1,296.7 $ 2,493.3 2020 $ 1,646,019 $ 8,030,259 $ 2,501,366 $ 8,191,019 $ 17,507,746 $ 4,232,125 $ 151 $ 108 $ (969.9) $ 636.0 | ||
Company Selected Measure Name | Adjusted EBITDA | ||
Named Executive Officers, Footnote [Text Block] | The Other NEOs for each applicable year are as follows: 2022: Todd A. Slater, Dana C. O’Brien, Patrick M. Schumacher, Damian Gumpel, and Pat D. Dawson 2021: Todd A. Slater, Pat D. Dawson, James A. Varilek, and Damian Gumpel 2020: Todd A. Slater, Pat D. Dawson, James A. Varilek, and Brett A. Flaugher | ||
Peer Group Issuers, Footnote [Text Block] | Our peer group reflects the performance of the S&P 1500 Commodity Chemicals Index. | ||
Adjustment To PEO Compensation, Footnote [Text Block] | The following adjustments were made to the SCT total in order to calculate CAP. Amounts presented for Other NEOs reflect an average for the Other NEOs for that applicable year: Pension Adjustments Equity Award Adjustments Year Executives SCT Total Deduct Change in Deduct Stock Awards from SCT Deduct Option Awards from SCT Add Add Change in Value of Awards Granted in Prior Years Add Change in Value of Awards Granted in Prior Years which Vested in Current Year Deduct Awards Which Failed to Meet Vesting Conditions Add Accrued Dividends and Interest 2022 First CEO $ 10,745,566 $ — $ (3,975,484) $ (3,657,786) $ 8,406,229 $ (2,209,860) $ (405,930) $ — $ — Other NEOs $ 2,386,281 $ — $ (653,429) $ (599,818) $ 1,212,539 $ (166,284) $ (146,115) $ (1,467,529) $ 692 2021 First CEO $ 10,105,293 $ — $ (4,479,480) $ (3,055,253) $ 18,553,023 $ 20,080,000 $ — $ — $ — Other NEOs $ 3,217,587 $ — $ (1,055,590) $ (601,537) $ 3,825,319 $ 5,271,902 $ 1,064,359 $ — $ 2,633 2020 First CEO $ 1,646,019 $ — $ (1,012,500) $ — $ 7,557,500 $ — $ — $ — $ — Second CEO $ 8,030,259 $ (22,921) $ (3,532,102) $ (2,730,000) $ 12,626,812 $ 3,247,818 $ (113,722) $ — $ 1,602 Other NEOs $ 2,501,366 $ (172,064) $ (924,710) $ (507,325) $ 2,731,147 $ 618,107 $ (25,078) $ — $ 10,682 | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,386,281 | $ 3,217,587 | $ 2,501,366 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 572,337 | 11,724,673 | 4,232,125 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | The following adjustments were made to the SCT total in order to calculate CAP. Amounts presented for Other NEOs reflect an average for the Other NEOs for that applicable year: Pension Adjustments Equity Award Adjustments Year Executives SCT Total Deduct Change in Deduct Stock Awards from SCT Deduct Option Awards from SCT Add Add Change in Value of Awards Granted in Prior Years Add Change in Value of Awards Granted in Prior Years which Vested in Current Year Deduct Awards Which Failed to Meet Vesting Conditions Add Accrued Dividends and Interest 2022 First CEO $ 10,745,566 $ — $ (3,975,484) $ (3,657,786) $ 8,406,229 $ (2,209,860) $ (405,930) $ — $ — Other NEOs $ 2,386,281 $ — $ (653,429) $ (599,818) $ 1,212,539 $ (166,284) $ (146,115) $ (1,467,529) $ 692 2021 First CEO $ 10,105,293 $ — $ (4,479,480) $ (3,055,253) $ 18,553,023 $ 20,080,000 $ — $ — $ — Other NEOs $ 3,217,587 $ — $ (1,055,590) $ (601,537) $ 3,825,319 $ 5,271,902 $ 1,064,359 $ — $ 2,633 2020 First CEO $ 1,646,019 $ — $ (1,012,500) $ — $ 7,557,500 $ — $ — $ — $ — Second CEO $ 8,030,259 $ (22,921) $ (3,532,102) $ (2,730,000) $ 12,626,812 $ 3,247,818 $ (113,722) $ — $ 1,602 Other NEOs $ 2,501,366 $ (172,064) $ (924,710) $ (507,325) $ 2,731,147 $ 618,107 $ (25,078) $ — $ 10,682 | ||
Equity Valuation Assumption Difference, Footnote [Text Block] | Our valuation assumptions used to calculate the fair value of equity awards reflect changes in our stock price and related volatility, changes to the length of the awards solely due to the passage of time, and updates to market driven assumptions such as the risk-free interest rate. | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Compensation actually paid to our NEOs (as adjusted for continuing NEOs) tracks closely with TSR and moves directionally with our performance indicating the strong relationship between the two metrics. | ||
Compensation Actually Paid vs. Net Income [Text Block] | Compensation actually paid also directionally reflects changes in our net income and Adjusted EBITDA; during the years when Olin’s performance increased, so did our compensation actually paid and vice versa. | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Compensation actually paid also directionally reflects changes in our net income and Adjusted EBITDA; during the years when Olin’s performance increased, so did our compensation actually paid and vice versa. | ||
Total Shareholder Return Vs Peer Group [Text Block] | As shown above, Olin’s cumulative TSR has exceeded the cumulative peer group TSR during the past three years. | ||
Tabular List [Table Text Block] | Required Tabular Disclosure of Most Important Measures to Determine Compensation Actually Paid Most Important Performance Measures Adjusted Cash Flow Levered Free Cash Flow Adjusted EBITDA Net Income (LTIP) Relative Total Shareholder Return | ||
Total Shareholder Return Amount | $ 336 | 359 | 151 |
Peer Group Total Shareholder Return Amount | 119 | 126 | 108 |
Net Income (Loss) | $ 1,326,900,000 | $ 1,296,700,000 | $ (969,900,000) |
Company Selected Measure Amount | 2,427,800,000 | 2,493,300,000 | 636,000,000 |
Additional 402(v) Disclosure [Text Block] | The measures listed above represent the most important performance measures we use to determine compensation actually paid. Adjusted Cash Flow, Levered Free Cash Flow and Adjusted EBITDA are measures used to assess performance against targets included in the short-term incentive program. Within our long-term incentive program, Net Income (LTIP) and Relative Total Shareholder Return are measures used specifically in the Performance Share Program. | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Cash Flow | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Levered Free Cash Flow | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EBITDA | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Income (LTIP) | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Relative Total Shareholder Return | ||
Scott M. Sutton [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | $ 10,745,566 | $ 10,105,293 | $ 1,646,019 |
PEO Actually Paid Compensation Amount | $ 8,902,735 | 41,203,583 | 8,191,019 |
John E. Fischer [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | 8,030,259 | ||
PEO Actually Paid Compensation Amount | 17,507,746 | ||
PEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Name | Our First CEO for the years presented represents Mr. Sutton. Mr. Sutton became President and CEO of Olin on September 1, 2020. Our Second CEO represents John E. Fischer who was Chairman, President, and CEO prior to Mr. Sutton. | ||
PEO [Member] | Scott M. Sutton [Member] | Pension Adjustments: Deduct Change in Pension Value and Nonqualified Deferred Compensation on Earnings from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 0 | 0 | 0 |
PEO [Member] | Scott M. Sutton [Member] | Equity Award Adjustments: Deduct Stock Awards from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,975,484) | (4,479,480) | (1,012,500) |
PEO [Member] | Scott M. Sutton [Member] | Equity Award Adjustments: Deduct Option Awards from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,657,786) | (3,055,253) | 0 |
PEO [Member] | Scott M. Sutton [Member] | Equity Award Adjustments: Add Year End Value of Awards Granted in Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 8,406,229 | 18,553,023 | 7,557,500 |
PEO [Member] | Scott M. Sutton [Member] | Equity Award Adjustments: Add Change in Value of Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,209,860) | 20,080,000 | 0 |
PEO [Member] | Scott M. Sutton [Member] | Equity Award Adjustments: Add Change in Value of Awards Granted in Prior Years which Vested in Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (405,930) | 0 | 0 |
PEO [Member] | Scott M. Sutton [Member] | Equity Award Adjustments: Deduct Awards Which Failed to Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Scott M. Sutton [Member] | Equity Award Adjustments: Add Accrued Dividends and Interest [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | John E. Fischer [Member] | Pension Adjustments: Deduct Change in Pension Value and Nonqualified Deferred Compensation on Earnings from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (22,921) | ||
PEO [Member] | John E. Fischer [Member] | Equity Award Adjustments: Deduct Stock Awards from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,532,102) | ||
PEO [Member] | John E. Fischer [Member] | Equity Award Adjustments: Deduct Option Awards from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,730,000) | ||
PEO [Member] | John E. Fischer [Member] | Equity Award Adjustments: Add Year End Value of Awards Granted in Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 12,626,812 | ||
PEO [Member] | John E. Fischer [Member] | Equity Award Adjustments: Add Change in Value of Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 3,247,818 | ||
PEO [Member] | John E. Fischer [Member] | Equity Award Adjustments: Add Change in Value of Awards Granted in Prior Years which Vested in Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (113,722) | ||
PEO [Member] | John E. Fischer [Member] | Equity Award Adjustments: Deduct Awards Which Failed to Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | John E. Fischer [Member] | Equity Award Adjustments: Add Accrued Dividends and Interest [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,602 | ||
Non-PEO NEO [Member] | Pension Adjustments: Deduct Change in Pension Value and Nonqualified Deferred Compensation on Earnings from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | (172,064) |
Non-PEO NEO [Member] | Equity Award Adjustments: Deduct Stock Awards from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (653,429) | (1,055,590) | (924,710) |
Non-PEO NEO [Member] | Equity Award Adjustments: Deduct Option Awards from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (599,818) | (601,537) | (507,325) |
Non-PEO NEO [Member] | Equity Award Adjustments: Add Year End Value of Awards Granted in Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,212,539 | 3,825,319 | 2,731,147 |
Non-PEO NEO [Member] | Equity Award Adjustments: Add Change in Value of Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (166,284) | 5,271,902 | 618,107 |
Non-PEO NEO [Member] | Equity Award Adjustments: Add Change in Value of Awards Granted in Prior Years which Vested in Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (146,115) | 1,064,359 | (25,078) |
Non-PEO NEO [Member] | Equity Award Adjustments: Deduct Awards Which Failed to Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,467,529) | 0 | 0 |
Non-PEO NEO [Member] | Equity Award Adjustments: Add Accrued Dividends and Interest [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 692 | $ 2,633 | $ 10,682 |