Eastman Chemical (EMN) 10-Q 7 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	EASTMAN CHEMICAL CO
Entity Central Index Key	915,389
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	142,635,082
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float		$ 11,960,005,248

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF EARNINGS, COMPREHENSIVE INCOME AND RETAINED EARNINGS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018		Mar. 31, 2017
Income Statement [Abstract]
Sales	$ 2,607		$ 2,303
Cost of sales	2,026		1,698
Gross profit	581		605
Selling, general and administrative expenses	190		179
Research and development expenses	56		57
Asset impairments and restructuring charges, net	2		0
Other components of post-employment (benefit) cost, net	(30)		(28)
Other (income) charges, net	(46)		(4)
Earnings before interest and taxes	409		401
Net interest expense	59		60
Earnings before income taxes	350		341
Provision for income taxes	60		62
Net earnings	290		279
Less: Net earnings attributable to noncontrolling interest	0		1
Net earnings attributable to Eastman	$ 290		$ 278
Basic earnings per share attributable to Eastman
Basic earnings per share attributable to Eastman	$ 2.03		$ 1.90
Diluted earnings per share attributable to Eastman
Diluted earnings per share attributable to Eastman	$ 2		$ 1.89
Comprehensive Income
Net earnings including noncontrolling interest	$ 290		$ 279
Other comprehensive income (loss), net of tax:
Change in cumulative translation adjustment	27		7
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits included in net periodic (credit) cost	(7)		(7)
Derivatives and hedging:
Unrealized gain (loss) during period	(23)		(21)
Reclassification adjustment for (gains) losses included in net income, net	0		(4)
Total other comprehensive income (loss), net of tax	(3)		(25)
Comprehensive income including noncontrolling interest	287		254
Less: Net earnings attributable to noncontrolling interest	0		1
Comprehensive income attributable to Eastman	287		253
Retained Earnings
Retained earnings at beginning of period	6,802		5,721
Cumulative effect adjustment resulting from adoption of new accounting standards	16		0
Net earnings attributable to Eastman	290		278
Cash dividends declared	(82)	[1]	(74)
Retained earnings at end of period	$ 7,026		$ 5,925
[1]	Cash dividends declared includes cash dividends paid and dividends declared but unpaid.

UNAUDITED CONSOLIDATED STATEME3

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents		$ 194	$ 191
Trade receivables, net of allowance for doubtful accounts		1,430	1,026
Miscellaneous receivables		319	360
Inventories		1,476	1,509
Other current assets		64	57
Total current assets		3,483	3,143
Properties
Properties and equipment at cost		12,520	12,370
Less: Accumulated depreciation		6,888	6,763
Net properties		5,632	5,607
Goodwill		4,540	4,527
Intangible assets, net of accumulated amortization		2,349	2,373
Other noncurrent assets		362	349
Total assets	[1]	16,366	15,999
Current liabilities
Payables and other current liabilities		1,440	1,589
Borrowings due within one year		589	393
Total current liabilities		2,029	1,982
Long-term borrowings		6,311	6,147
Deferred income tax liabilities		914	893
Post-employment obligations		951	963
Other long-term liabilities		541	534
Total liabilities		10,746	10,519
Stockholders' equity
Common stock ($0.01 par value – 350,000,000 shares authorized; shares issued – 219,032,630 and 218,369,992 for 2018 and 2017, respectively)		2	2
Additional paid-in capital		2,004	1,983
Retained earnings		7,026	6,802
Accumulated other comprehensive income (loss)		(212)	(209)
Stockholder's Equity before Treasury Stock		8,820	8,578
Less: Treasury stock at cost (76,448,346 shares for 2018 and 75,454,111 shares for 2017)		3,275	3,175
Total Eastman stockholders' equity		5,545	5,403
Noncontrolling interest		75	77
Total equity		5,620	5,480
Total liabilities and stockholders' equity		$ 16,366	$ 15,999
[1]	Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets.

UNAUDITED CONSOLIDATED STATEME4

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	350,000,000	350,000,000
Common stock, shares issued (in shares)	219,032,630	218,369,992
Treasury stock at cost (in shares)	76,448,346	75,454,111

UNAUDITED CONSOLIDATED STATEME5

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net earnings	$ 290	$ 279
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	152	145
Gain from property insurance	(50)	0
Provision for deferred income taxes	11	31
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
(Increase) decrease in trade receivables	(223)	(149)
(Increase) decrease in inventories	(80)	(82)
Increase (decrease) in trade payables	8	(26)
Pension and other postretirement contributions (in excess of) less than expenses	(36)	(36)
Variable compensation (in excess of) less than expenses	(77)	(84)
Other items, net	(30)	(26)
Net cash (used in) provided by operating activities	(35)	52
Investing activities
Additions to properties and equipment	(128)	(133)
Proceeds from property insurance	50	0
Proceeds from sale of assets	0	1
Acquisitions, net of cash acquired	0	(4)
Net cash used in investing activities	(78)	(136)
Financing activities
Net increase (decrease) in commercial paper and other borrowings	199	0
Proceeds from borrowings	275	250
Repayment of borrowings	(175)	0
Dividends paid to stockholders	(80)	(75)
Treasury stock purchases	(100)	(75)
Proceeds from stock option exercises and other items, net	(3)	2
Net cash provided by financing activities	116	102
Effect of exchange rate changes on cash and cash equivalents	0	(2)
Net change in cash and cash equivalents	3	16
Cash and cash equivalents at beginning of period	191	181
Cash and cash equivalents at end of period	$ 194	$ 197

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ACCOUNTING POLICIES (Notes)	3 Months Ended
	Mar. 31, 2018
Significant Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared by Eastman Chemical Company ("Eastman" or the "Company") in accordance and consistent with the accounting policies stated in the Company's 2017 Annual Report on Form 10-K, and should be read in conjunction with the consolidated financial statements in Part II, Item 8 of the Company's 2017 Annual Report on Form 10-K, with the exception of the items noted below. The December 31, 2017 financial position data included herein was derived from the audited consolidated financial statements included in the 2017 Annual Report on Form 10-K but does not include all disclosures required by accounting principles generally accepted in the United States ("GAAP"). In the opinion of management, the unaudited consolidated financial statements include all normal recurring adjustments necessary for fair statement of the interim financial information in conformity with GAAP. These statements contain some amounts that are based upon management estimates and judgments. Future actual results could differ from such current estimates. The unaudited consolidated financial statements include assets, liabilities, sales revenue, and expenses of all majority-owned subsidiaries and joint ventures in which a controlling interest is maintained. Eastman accounts for other joint ventures and investments where it exercises significant influence on the equity basis. Intercompany transactions and balances are eliminated in consolidation. Certain prior period data has been reclassified in the consolidated financial statements and accompanying footnotes to conform to current period presentation. As of January 1, 2018: • Eastman's primary measure of operating performance for all periods presented is earnings before interest and taxes ("EBIT") on a consolidated and segment basis. Previously, the Company's primary measure of operating performance was operating earnings. • As discussed below, the new accounting standard for the presentation of net periodic benefit costs requires the Company to present non-service cost components of net periodic benefit costs (interest cost, expected return on plan assets, curtailment gains or losses, amortization of prior service costs or credits, and mark-to-market gains or losses) separately from service cost. These non-service cost components were reclassified from "Cost of sales", "Selling, general and administrative expenses", and "Research and development expenses" line items and are now included in a new line item, "Other components of post-employment (benefit) cost, net" on the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for all periods presented. This reclassification does not change prior period EBIT and accordingly management does not consider this change to have a material impact on the Company's financial statements and related disclosures. Recently Adopted Accounting Standards Accounting Standards Update ("ASU") 2014-09 Revenue Recognition (Accounting Standards Codification "ASC" 606): On January 1, 2018, Eastman adopted this standard under the modified retrospective method, such that revenue for all periods prior to January 1, 2018 continue to be reported under the previous standard, which resulted in an increase to retained earnings of $53 million after tax for products shipped but not delivered as of December 31, 2017. Under the new standard, the Company recognizes revenue when performance obligations of the sale are satisfied. The majority of the Company's terms of sale have a single performance obligation to transfer products. Accordingly, the Company recognizes revenue when control has been transferred to the customer, generally at the time of shipment of products. Under the previous revenue recognition accounting standard, the Company recognized revenue upon transfer of title and risk of loss, generally upon the delivery of goods. Management does not expect that changes in its accounting required by this new standard will materially impact the Company's financial statements and related disclosures when comparing 2018 under the new revenue standard to previous years under the prior standard. However, the difference in timing of revenue recognition under the current and former accounting standards is expected to have some impact on seasonal revenue and EBIT trends during 2018 compared to previous years. For further information, see Note 18, "Revenue Recognition" . ASU 2016-01 Financial Instruments: On January 1, 2018, Eastman adopted this standard relating to the recognition and measurement of financial assets and financial liabilities. This standard requires equity investments (except equity method and consolidated investments) to be measured at fair value with changes in fair value recognized in net income. Management has concluded that changes in its accounting required by the new standard will not materially impact the Company's financial statements and related disclosures. In February 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-03 as an update to the standard described above which is effective for the Company July 1, 2018. Management does not expect that changes in its accounting required by the update will materially impact the Company's financial statements and related disclosures. ASU 2016-16 Income Taxes - Intra-Entity Transfers: On January 1, 2018, Eastman adopted this standard under the modified retrospective method resulting in a beginning retained earnings decrease of $39 million . Under this standard, the Company is required to recognize the income tax consequence of an intra-entity transfer of an asset other than inventory when the transfer occurs. ASU 2017-05 Other Income - Gains and Losses from Derecognition of Nonfinancial Assets: On January 1, 2018, Eastman adopted this standard in conjunction with the revenue recognition standard mentioned above. This standard clarifies the scope of nonfinancial asset derecognition and the accounting for partial sales of nonfinancial assets. This adoption had no impact on the Company's financial statements and related disclosures in the current period. ASU 2017-07 Compensation - Retirement Benefits: On January 1, 2018, Eastman adopted this standard retrospectively for income statement effects and prospectively for balance sheet effects. This standard is intended to improve the presentation of net periodic pension and postretirement benefit costs by requiring the reporting of the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit costs (interest cost, expected return on plan assets, curtailment gains or losses, amortization of prior service costs or credits, and mark-to-market gains or losses) are to be presented in the income statement separately from the service cost component and outside the subtotal of income from operations, if presented. Management has concluded that changes in its accounting required by this new standard will not materially impact the Company's financial statements and related disclosures. ASU 2017-12 Derivatives and Hedging: On January 1, 2018, Eastman adopted this standard on a modified retrospective basis for income statement impacts and prospectively for presentation and disclosure resulting in a beginning retained earnings increase of $2 million related to the elimination of ineffectiveness recognized in "Accumulated other comprehensive income (loss)" ("AOCI") located in the Unaudited Consolidated Statements of Financial Position under the previous standard. This standard is intended to simplify the application of hedge accounting and improve the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in the financial statements. Management has included the additional disclosures required by this standard in Note 6, "Derivative and Non-Derivative Financial Instruments" . Accounting Standards Issued But Not Adopted as of March 31, 2018 ASU 2016-02 Leases: In February 2016, the FASB issued a standard on lease accounting. The new standard establishes two types of leases for lessees: finance and operating. Both finance and operating leases will have associated right-of-use assets and liabilities initially measured at the present value of the lease payments. This standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period and early adoption is permitted. The new standard is to be applied under a modified retrospective approach wherein practical expedients have been allowed that will not require reassessment of current leases at the effective date. In January 2018, the FASB issued an update to the new standard above in ASU 2018-01 that sets forth the requirement to assess land easements to determine if the arrangement should be accounted for as a lease. The effective date for this amended standard is the same as that of the lease standard stated above. Management is currently evaluating implementation options and impact on the Company's financial statements and related disclosures. ASU 2016-13 Financial Instruments - Credit Losses: In June 2016, the FASB issued a standard relating to credit losses. The amendments require a financial asset (including trade receivables) to be presented at the net amount expected to be collected through the use of allowances for credit losses valuation account. The income statement will reflect the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. This standard is effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period and early adoption is permitted, including adoption in an interim period, beginning after December 15, 2018. The new standard application is mixed among the various elements that include modified retrospective and prospective transition methods. Management does not expect that changes in its accounting required by the new standard will materially impact the Company's financial statements and related disclosures. ASU 2017-04 Intangibles - Goodwill and Other: In January 2017, the FASB issued a standard as a part of its simplification initiative that bases the impairment of goodwill on any difference for which the carrying value is greater than the fair value of the reporting unit. This standard is effective for annual reporting periods, or interim period testing performed, beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment testing performed after January 1, 2017. This standard is to be applied on a prospective basis for goodwill testing that occur after the effective date. Management does not expect that changes in its accounting required by the new standard will materially impact the Company's financial statements and related disclosures. ASU 2018-02 Income Statement - Reporting Comprehensive Income: In February 2018, the FASB issued a standard that allows the reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 "Tax Cuts and Jobs Act" ("Tax Reform Act"). The amount of the reclassification is the difference between the historical corporate income tax rate and the newly enacted tax rate. This standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period, for reporting periods for which financial statements have not yet been issued. The new standard is to be applied either in the period of adoption or retrospectively to each period (or periods) in which the effects of the change in the income tax rate in the Tax Reform Act is recognized. Management is currently evaluating implementation options and impact on the Company's financial statements and related disclosures.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES March 31, December 31, (Dollars in millions) 2018 2017 Finished goods $ 1,031 $ 1,114 Work in process 241 213 Raw materials and supplies 504 470 Total inventories at FIFO or average cost 1,776 1,797 Less: LIFO reserve 300 288 Total inventories $ 1,476 $ 1,509 Inventories valued on the last-in, first-out ("LIFO") method were approximately 55 percent and 60 percent of total inventories at March 31, 2018 and December 31, 2017 , respectively.

PAYABLES AND OTHER CURRENT LIAB

PAYABLES AND OTHER CURRENT LIABILITIES	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
PAYABLES AND OTHER CURRENT LIABILITIES	PAYABLES AND OTHER CURRENT LIABILITIES March 31, December 31, (Dollars in millions) 2018 2017 Trade creditors $ 838 $ 842 Accrued payrolls, vacation, and variable-incentive compensation 120 199 Accrued taxes 67 111 Other 415 437 Total payables and other current liabilities $ 1,440 $ 1,589 "Other" consists primarily of accruals for post-employment obligations, dividends payable, interest payable, derivative hedging liabilities, the current portion of environmental liabilities, and miscellaneous accruals.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	INCOME TAXES First Quarter (Dollars in millions) 2018 2017 $ % $ % Provision for income taxes and tax rate $ 60 17 % $ 62 18 % The first quarter 2018 effective tax rate includes the impact of the U.S. corporate tax rate reduction resulting from the Tax Reform Act. The first quarter 2017 effective tax rate included adjustments to the tax provision to reflect planned amendments to and finalization of prior years' income tax returns. As previously reported, the Company recognized an estimated net tax benefit for the year ended December 31, 2017, primarily resulting from the Tax Reform Act. The net tax benefit included a benefit from the one-time revaluation of deferred tax liabilities, partially offset by a one-time transition tax on deferred foreign income and changes in valuation of deferred tax assets. As of March 31, 2018 , the Company continues to consider the accounting for the following impacts of the Tax Reform Act to be provisional and, accordingly, subject to adjustment in future periods: the transition tax on deferred foreign income (which consists of post-1986 accumulated earnings and profits of controlled foreign corporations and the determination of cash versus non-cash balances), the impact of the change in income tax rates on deferred tax assets and liabilities, and the evaluation of gross foreign tax credit carryforwards and related valuation allowances. In preparing the provisional estimates as of March 31, 2018 , the Company has considered notices and revenue procedures issued by the Internal Revenue Service and authoritative accounting guidance. Certain of the provisional amounts will be finalized in conjunction with the filing of the Company's U.S. federal income tax return for the year ended December 31, 2017 that will not be finalized until later in 2018. While historically differences between amounts reported in the Company's consolidated financial statements and the Company's U.S. federal income tax return have resulted in offsetting changes in estimates in current and deferred taxes for items which are timing related, the reduction of the U.S. tax rate will result in adjustments to the Company's income tax (benefit) provision when recognized. The Company also considers it likely that further technical guidance regarding certain aspects of the new provisions included in the Tax Reform Act, as well as clarity regarding state income tax conformity to current federal tax code, may be issued which could result in changes to the provisional amounts reported as of March 31, 2018 and related state income tax effects. Additionally, the Company continues to consider the future impact of the Tax Reform Act for the fiscal year beginning January 1, 2018, including the new provisions known as the base erosion anti-abuse tax ("BEAT") and global intangible low-tax income ("GILTI") tax, as well as other provisions. Under U.S. GAAP, companies can make an accounting policy election to either treat taxes resulting from GILTI as a current-period expense when incurred or factor such amounts into the measurement of deferred taxes. The Company has not completed its analysis of the effects of the GILTI provisions and will further consider the accounting policy election within the measurement period as provided under Staff Accounting Bulletin No. 118, "Income Tax Accounting Implications of the Tax Cuts and Jobs Act".

BORROWINGS

BORROWINGS	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS March 31, December 31, (Dollars in millions) 2018 2017 Borrowings consisted of: 5.5% notes due November 2019 $ 250 $ 250 2.7% notes due January 2020 798 797 4.5% notes due January 2021 (1) 192 185 3.6% notes due August 2022 (1) 753 738 1.50% notes due May 2023 (2) 920 895 7 1/4% debentures due January 2024 197 197 7 5/8% debentures due June 2024 43 43 3.8% notes due March 2025 689 690 1.875% notes due November 2026 (2) 609 592 7.60% debentures due February 2027 195 195 4.8% notes due September 2042 493 493 4.65% notes due October 2044 871 871 Commercial paper and short term borrowings 588 389 Credit facilities borrowings 300 200 Capital leases and other 2 5 Total borrowings 6,900 6,540 Borrowings due within one year 589 393 Long-term borrowings $ 6,311 $ 6,147 (1) In January 2018, the Company entered into fixed-to-fixed cross-currency swaps with $180 million maturing 2021 and $320 million maturing 2022 and designated these swaps to hedge a portion of its net investment in a euro functional currency denominated subsidiary against foreign currency fluctuations. The hedged portion of the carrying value of the U.S. denominated 4.5% notes due January 2021 and 3.6% notes due August 2022 will fluctuate with changes in the euro exchange rate. During the three months ended March 31, 2018 , pre-tax losses of $11 million were recognized in "Other comprehensive income (loss)" ("OCI") for revaluation of the hedged portion of these notes. (2) The carrying value of the euro-denominated 1.50% notes due May 2023 and 1.875% notes due November 2026 will fluctuate with changes in the euro exchange rate. The carrying value of these euro-denominated borrowings have been designated as non-derivative net investment hedges of a portion of the Company's net investments in euro functional-currency denominated subsidiaries to offset foreign currency fluctuations. During the three months ended March 31, 2018 , pre-tax losses of $42 million were recognized in OCI for revaluation of these notes. Credit Facilities and Commercial Paper Borrowings In December 2016, the Company borrowed $300 million under a five-year term loan agreement ("2021 Term Loan"). As of March 31, 2018 , the 2021 Term Loan agreement balance outstanding was $200 million with an interest rate of 2.90 percent . As of December 31, 2017 , the 2021 Term Loan agreement balance outstanding was $200 million with an interest rate of 2.60 percent . Borrowings under the 2021 Term Loan agreement are subject to interest at varying spreads above quoted market rates. The Company has access to a $1.25 billion revolving credit agreement (the "Credit Facility") expiring October 2021. Borrowings under the Credit Facility are subject to interest at varying spreads above quoted market rates and a commitment fee is paid on the total unused commitment. The Credit Facility provides available liquidity for general corporate purposes and supports commercial paper borrowings. Commercial paper borrowings are classified as short-term. At March 31, 2018 and December 31, 2017 , the Company had no outstanding borrowings under the Credit Facility. At March 31, 2018 , the Company's commercial paper borrowings were $452 million with a weighted average interest rate of 2.30 percent . At December 31, 2017 , the Company's commercial paper borrowings were $280 million with a weighted average interest rate of 1.61 percent . In April 2018, the Company amended its $250 million accounts receivable securitization agreement (the "A/R Facility") to extend the maturity to April 2020. Eastman Chemical Financial Corporation ("ECFC"), a subsidiary of the Company, has an agreement to sell interests in trade receivables under the A/R Facility to a third party purchaser. Third party creditors of ECFC have first priority claims on the assets of ECFC before those assets would be available to satisfy the Company's general obligations. Borrowings under the A/R Facility are subject to interest rates based on a spread over the lender's borrowing costs, and ECFC pays a fee to maintain availability of the A/R Facility. In first quarter 2018 , $100 million available under the A/R Facility was borrowed and remained outstanding at March 31, 2018 with an interest rate of 2.69 percent . At December 31, 2017 , the Company had no borrowings under the A/R Facility. The Credit and A/R Facilities and other borrowing agreements contain customary covenants and events of default, some of which require the Company to maintain certain financial ratios that determine the amounts available and terms of borrowings. The Company was in compliance with all covenants at both March 31, 2018 and December 31, 2017 . The Company has access to borrowings of up to €150 million ( $185 million ) under a receivables facility based on the discounted value of selected customer accounts receivable. This facility expires December 2020 and renews for another one year period if not terminated with 90 days notice by either party. These arrangements include receivables in the United States, Belgium, and Finland, and are subject to various eligibility requirements. Borrowings under this facility are subject to interest at an agreed spread above EURIBOR for euro denominated drawings and the counterparty's cost of funds for drawings in any other currencies, plus administration and insurance fees and are classified as short-term. At March 31, 2018 , the Company's amount of outstanding borrowings under this facility were $136 million with a weighted average interest rate of 1.32 percent . At December 31, 2017, the Company's amount of outstanding borrowings under this facility were $109 million with a weighted average interest rate of 1.31 percent . Fair Value of Borrowings Eastman has classified its total borrowings at March 31, 2018 and December 31, 2017 under the fair value hierarchy as defined in the accounting policies in Note 1, "Significant Accounting Policies" , to the consolidated financial statements in Part II, Item 8 of the Company's 2017 Annual Report on Form 10-K. The fair value for fixed-rate debt securities is based on current market prices and is classified as Level 1. The fair value for the Company's other borrowings primarily under the Term Loan, commercial paper, A/R Facility, and a receivables facility equals the carrying value and is classified as Level 2. The Company had no borrowings classified as Level 3 as of March 31, 2018 and December 31, 2017 . Fair Value Measurements at March 31, 2018 (Dollars in millions) Recorded Amount Total Fair Value Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Total borrowings $ 6,900 $ 7,192 $ 6,303 $ 889 Fair Value Measurements at December 31, 2017 (Dollars in millions) Recorded Amount December 31, 2017 Total Fair Value Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Total borrowings $ 6,540 $ 6,980 $ 6,386 $ 594

DERIVATIVE AND NON-DERIVATIVE F

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS Overview of Hedging Programs Eastman is exposed to market risks, such as changes in foreign currency exchange rates, commodity prices, and interest rates. To mitigate these market risks and their effects on the cash flows of the underlying transactions and investments in foreign subsidiaries, the Company uses various derivative and non-derivative financial instruments, when appropriate, in accordance with the Company's hedging strategy and policies. Designation is performed on a specific exposure basis to support hedge accounting. The Company does not enter into derivative transactions for speculative purposes. For further information on hedging programs, see Note 9, "Derivative and Non-Derivative Financial Instruments" , to the consolidated financial statements in Part II, Item 8 of the Company's 2017 Annual Report on Form 10-K. Cash Flow Hedges Cash flow hedges are derivative instruments designated and used to hedge the exposure to variability in expected future cash flows that are attributable to a particular risk. The derivative instruments that are designated and qualify as a cash flow hedge are reported on the balance sheet at fair value and the changes in fair value of these hedging instruments are offset in part or in whole by corresponding changes in the anticipated cash flows of the underlying exposures being hedged. The net of the change in the hedge instrument and item being hedged for qualifying cash flow hedges is reported as a component of AOCI located in the Unaudited Consolidated Statements of Financial Position and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Fair Value Hedges Fair value hedges are defined as derivative or non-derivative instruments designated as and used to hedge the exposure to changes in the fair value of an asset or a liability or an identified portion thereof that is attributable to a particular risk. The derivative instruments that are designated and qualify as fair value hedges are recorded on the balance sheet at fair value and the changes in fair value of these hedging instruments are offset in part or in whole by corresponding changes in the anticipated cash flows of the underlying exposures being hedged. The net of the change in the hedge instrument and item being hedged for qualifying fair value hedges is reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Net Investment Hedges Net investment hedges are defined as derivative or non-derivative instruments designated as and used to hedge the foreign currency exposure of the net investments in certain foreign operations. The net of the change in the hedge instrument and item being hedged for qualifying net investment hedges is reported as a component of the "Cumulative Translation Adjustment" ("CTA") within AOCI located in the Unaudited Consolidated Statements of Financial Position. Recognition in earnings of amounts previously recorded to CTA is limited to circumstances such as complete or substantially complete liquidation of the net investment in the hedged foreign operation. For derivative cross-currency interest rate swap net investment hedges, gains and losses representing hedge components excluded from the assessment of effectiveness are recognized in CTA within AOCI and recognized in earnings through the periodic swap interest accruals. The foreign currency-denominated borrowings and cross-currency interest rate swaps designated as net investment hedges are included as part of "Long-term borrowings" within the Unaudited Consolidated Statements of Financial Position. In January 2018, Eastman entered into fixed-to-fixed cross-currency swaps and designated these swaps to hedge a portion of its net investment in a euro functional currency denominated subsidiary against foreign currency fluctuations. These contracts involve the exchange of fixed U.S. dollars with fixed euro interest payments periodically over the life of the contracts and an exchange of the notional amounts at maturity. The fixed-to-fixed cross-currency swaps include €150 million ( $180 million ) maturing January 2021 and €266 million ( $320 million ) maturing August 2022. Summary of Financial Position and Financial Performance of Hedging Instruments The following table presents the notional amounts outstanding at March 31, 2018 and December 31, 2017 associated with Eastman's hedging programs. Notional Outstanding March 31, 2018 December 31, 2017 Derivatives designated as cash flow hedges: Foreign Exchange Forward and Option Contracts (in millions) EUR/USD (in EUR) €498 €525 Commodity Forward and Collar Contracts Feedstock (in million barrels) 7 7 Energy (in million million british thermal units) 20 23 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swaps (in millions) $75 $75 Derivatives designated as net investment hedges: Cross-currency interest rate swaps (in millions) EUR/USD (in EUR) €416 — Non-derivatives designated as net investment hedges: Foreign Currency Net Investment Hedges (in millions) EUR/USD (in EUR) €1,241 €1,240 Fair Value Measurements All the Company's derivative assets and liabilities are currently classified as Level 2. Level 2 fair value is based on estimates using standard pricing models. These standard pricing models use inputs that are derived from or corroborated by observable market data such as interest rate yield curves and currency spot and forward rates. The fair value of commodity contracts is derived using forward curves supplied by an industry recognized and unrelated third party. In addition, on an ongoing basis, the Company tests a subset of its valuations against valuations received from the transaction's counterparty to validate the accuracy of its standard pricing models. Counterparties to these derivative contracts are highly rated financial institutions which the Company believes carry minimal risk of nonperformance, and the Company diversifies its positions among such counterparties to reduce its exposure to counterparty risk and credit losses. The Company monitors the creditworthiness of its counterparties on an on-going basis. The Company did not recognize a credit loss during first quarter 2018 and 2017 . All the Company's derivative contracts are subject to master netting arrangements, or similar agreements, which provide for the option to settle contracts on a net basis when they settle on the same day and in the same currency. In addition, these arrangements provide for a net settlement of all contracts with a given counterparty in the event that the arrangement is terminated due to the occurrence of default or a termination event. The Company does not have any cash collateral due under such agreements. The Company has elected to present derivative contracts on a gross basis within the Unaudited Consolidated Statements of Financial Position. The following table presents the financial assets and liabilities valued on a recurring and gross basis and includes where the financial assets and liabilities are located within the Unaudited Consolidated Statements of Financial Position as of March 31, 2018 and December 31, 2017 . The Financial Position and Fair Value Measurements of Hedging Instruments on a Gross Basis (Dollars in millions) Derivative Type Statements of Financial Position Classification March 31, 2018 Level 2 December 31, 2017 Level 2 Derivatives designated as cash flow hedges: Commodity contracts Other current assets $ 5 $ 9 Commodity contracts Other noncurrent assets 2 4 Foreign exchange contracts Other current assets 15 23 Foreign exchange contracts Other noncurrent assets 1 2 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Other current assets — 1 Total Derivative Assets $ 23 $ 39 Derivatives designated as cash flow hedges: Commodity contracts Payables and other current liabilities $ 31 $ 28 Commodity contracts Other long-term liabilities 10 10 Foreign exchange contracts Payables and other current liabilities 10 6 Foreign exchange contracts Other long-term liabilities 9 4 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Long-term borrowings 5 4 Derivatives designated as net investment hedges: Cross-currency interest rate swaps Long-term borrowings 22 — Total Derivative Liabilities $ 87 $ 52 Total Net Derivative Liabilities $ 64 $ 13 In addition to the fair value associated with derivative instruments designated as cash flow hedges and fair value hedges noted in the table above, the Company had a carrying value of $1.5 billion associated with non-derivative instruments designated as foreign currency net investment hedges at both March 31, 2018 and December 31, 2017 . The designated foreign currency-denominated borrowings are included in the "Long-term borrowings" line item of the Unaudited Consolidated Statements of Financial Position. For additional fair value measurement information, see Note 1, "Significant Accounting Policies" , and Note 9, "Derivative and Non-Derivative Financial Instruments" , to the consolidated financial statements in Part II, Item 8 of the Company's 2017 Annual Report on Form 10-K. As of March 31, 2018 and December 31, 2017 , the following amounts were included on the Unaudited Consolidated Statements of Financial Position related to cumulative basis adjustments for fair value hedges. (Dollars in millions) Carrying amount of the hedged liabilities Cumulative amount of fair value hedging loss adjustment included in the carrying amount of the hedged liability Line item in the Unaudited Consolidated Statements of Financial Position in which the hedged item is included March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 Long-term borrowings (1) $ (758 ) $ (760 ) $ 12 $ 10 (1) At March 31, 2018 and December 31, 2017 , the cumulative amount of fair value hedging loss adjustment remaining for hedged liabilities for which hedge accounting has been discontinued was $7 million and $6 million , respectively. The following table presents the effect of cash flow and net investment hedge accounting on OCI for first quarter 2018 and 2017 : (Dollars in millions) Change in amount of after tax gain (loss) recognized in OCI on derivatives Pre-tax amount of gain (loss) reclassified from OCI into earnings March 31, March 31, Hedging Relationships 2018 2017 2018 2017 Derivatives in cash flow hedging relationships: Commodity contracts $ (11 ) $ (16 ) $ (2 ) $ (7 ) Foreign exchange contracts (13 ) (10 ) 3 12 Forward starting interest rate and treasury lock swap contracts 1 1 (1 ) (1 ) Non-derivatives in net investment hedging relationships (pre-tax): Net investment hedges (42 ) (18 ) — — Derivatives in net investment hedging relationships (pre-tax): Cross-currency interest rate swaps (11 ) — — — Cross-currency interest rate swaps excluded component (11 ) — — — The following table presents the effect of fair value and cash flow hedge accounting on the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for first quarter 2018 and 2017 . Location and Amount of Gain or (Loss) Recognized in Earnings on Fair Value and Cash Flow Hedging Relationships First Quarter 2018 2017 (Dollars in millions) Sales Cost of Sales Net Interest Expense Sales Cost of Sales Net Interest Expense Total amounts of income and expense line items presented in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in which the effects of fair value or cash flow hedges are recognized $ 2,607 $ 2,026 $ 59 $ 2,303 $ 1,698 $ 60 The effects of fair value and cash flow hedging: Gain or (loss) on fair value hedging relationships in Subtopic 815-20: Interest contracts (fixed-for-floating interest rate swaps): Hedged items — (1 ) Derivatives designated as hedging instruments — 1 Gain or (loss) on cash flow hedging relationships in Subtopic 815-20: Interest contracts (forward starting interest rate and treasury lock swap contracts): Amount of loss reclassified from AOCI into earnings (1 ) (1 ) Commodity Contracts: Amount of loss reclassified from AOCI into earnings (2 ) (7 ) Foreign Exchange Contracts: Amount of gain reclassified from AOCI into earnings 3 12 The Company enters into foreign exchange derivatives denominated in multiple currencies which are transacted and settled in the same quarter. These derivatives are not designated as hedges due to the short-term nature and the gains or losses on these derivatives are marked-to-market in line item "Other (income) charges, net" of the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings. The Company recognized net losses on these derivatives of $8 million and $6 million during first quarter 2018 and 2017 , respectively. Pre-tax monetized positions and mark-to-market gains and losses from raw materials and energy, currency, and certain interest rate hedges that were included in AOCI included net losses of $308 million and $214 million at March 31, 2018 and December 31, 2017 , respectively. Losses in AOCI increased March 31, 2018 compared to December 31, 2017 primarily as a result of an increase in foreign currency exchange rates associated with the euro. If realized, approximately $27 million in pre-tax losses, as of March 31, 2018 , would be reclassified into earnings during the next 12 months.

RETIREMENT PLANS

RETIREMENT PLANS	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
RETIREMENT PLANS	RETIREMENT PLANS Defined Benefit Pension Plans and Other Postretirement Benefit Plans Eastman maintains defined benefit pension plans that provide eligible employees with retirement benefits. In addition, Eastman provides life insurance for eligible retirees hired prior to January 1, 2007. Eastman provides a subsidy for pre-Medicare health care and dental benefits to eligible retirees hired prior to January 1, 2007 that will end on December 31, 2021. Company funding is also provided for eligible Medicare retirees hired prior to January 1, 2007 with a health reimbursement arrangement. Costs recognized for these benefits are estimated amounts, which may change as actual costs derived for the year are determined. For additional information regarding retirement plans, see Note 10, "Retirement Plans" , to the consolidated financial statements in Part II, Item 8 of the Company's 2017 Annual Report on Form 10-K. Components of net periodic benefit (credit) cost were as follows: First Quarter Pension Plans Other Postretirement Benefit Plans 2018 2017 2018 2017 (Dollars in millions) U.S. Non-U.S. U.S. Non-U.S. Service cost $ 9 $ 4 $ 9 $ 3 $ — $ 1 Interest cost 17 5 17 5 6 6 Expected return on assets (37 ) (9 ) (35 ) (8 ) (2 ) (2 ) Amortization of: Prior service credit, net — — (1 ) — (10 ) (10 ) Net periodic benefit (credit) cost $ (11 ) $ — $ (10 ) $ — $ (6 ) $ (5 ) On January 1, 2018, the Company adopted ASU 2017-07 resulting in non-service cost components of the net periodic pension and other postretirement benefit plans being presented in "Other components of post-employment (benefit) cost, net" line item of the Unaudited Consolidated Statement of Earnings, Comprehensive Income and Retained Earnings. See Note 1, "Significant Accounting Policies" for additional information.

COMMITMENTS

COMMITMENTS	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	COMMITMENTS AND OFF BALANCE SHEET ARRANGEMENTS Purchase Obligations and Lease Commitments The Company had various purchase obligations at March 31, 2018 , totaling approximately $2.9 billion over a period of approximately 30 years for materials, supplies, and energy incident to the ordinary conduct of business. The Company also had various lease commitments for property and equipment under cancelable, noncancelable, and month-to-month operating leases totaling $254 million over a period of approximately 40 years . Of the total lease commitments, approximately 50 percent relate to real property, including office space, storage facilities, and land; approximately 40 percent relate to railcars; and approximately 10 percent relate to machinery and equipment, including computer and communications equipment and production equipment. Guarantees The Company has operating leases with terms that require the Company to guarantee a portion of the residual value of the leased assets upon termination of the lease as well as other guarantees. Disclosures about each group of similar guarantees are provided below. Residual Value Guarantees The Company has operating leases with terms that require the Company to guarantee a portion of the residual value of the leased assets upon termination of the lease. These residual value guarantees totaled $71 million at March 31, 2018 and consist primarily of leases for railcars that will expire beginning in third quarter 2018. Residual guarantee payments that become probable and estimable are recognized as rent expense over the remaining life of the applicable lease. Management's current expectation is that the likelihood of material residual guarantee payments is remote. Other Guarantees Guarantees and claims also arise during the ordinary course of business from relationships with customers, suppliers, joint venture partners, and other parties when the Company undertakes an obligation to guarantee the performance of others if specified triggering events occur. Non-performance under a contract could trigger an obligation of the Company. The Company's current other guarantees include guarantees relating to intellectual property, environmental matters, and other indemnifications and have arisen through the normal course of business. The ultimate effect on future financial results is not subject to reasonable estimation because considerable uncertainty exists as to the final outcome of these claims, if they were to occur. These other guarantees have terms up to 30 years with maximum potential future payments of approximately $35 million in the aggregate, with none of these guarantees being individually significant to the Company's operating results, financial position, or liquidity. Management's current expectation is that future payment or performance related to non-performance under other guarantees is remote. Other Off Balance Sheet Arrangements The Company has off balance sheet non-recourse factoring facilities with various commitment dates. These arrangements include customer specific receivables in the United States and Europe. The Company sells the receivables at face value which equals the carrying value and fair value, and thus no gain or loss is recognized. There is no continuing involvement with these receivables once sold and no credit loss exposure. The total amount of cumulative receivables sold in first quarter 2018 and 2017 were $39 million and $3 million , respectively.

ENVIRONMENTAL MATTERS AND ASSET

ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS	3 Months Ended
	Mar. 31, 2018
Accrual for Environmental Loss Contingencies Disclosure [Abstract]
Environmental Matters	ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS Certain Eastman manufacturing sites generate hazardous and nonhazardous wastes, the treatment, storage, transportation, and disposal of which are regulated by various governmental agencies. In connection with the cleanup of various hazardous waste sites, the Company, along with many other entities, has been designated a potentially responsible party ("PRP") by the U.S. Environmental Protection Agency under the Comprehensive Environmental Response, Compensation and Liability Act, which potentially subjects PRPs to joint and several liability for certain cleanup costs. In addition, the Company will incur costs for environmental remediation and closure and post-closure under the federal Resource Conservation and Recovery Act. Reserves for environmental contingencies have been established in accordance with Eastman's policies described in Note 1, "Significant Accounting Policies", to the consolidated financial statements in Part II, Item 8 of the Company's 2017 Annual Report on Form 10-K. Although the resolution of uncertainties related to these environmental matters may have a material adverse effect on the Company's consolidated results of operations in the period recognized, because of the availability of legal defenses, the Company's preliminary assessment of actions that may be required, and, if applicable, the expected sharing of costs, management does not believe that the Company's liability for these environmental matters, individually or in the aggregate, will be material to the Company's consolidated financial position, results of operations, or cash flows. The Company's total reserve for environmental loss contingencies was $302 million and $304 million at March 31, 2018 and December 31, 2017 , respectively. The environmental reserve includes costs related to sites previously closed and impaired by Eastman and sites that have been divested by Eastman but for which the Company retains the environmental liability related to these sites of $7 million at both March 31, 2018 and December 31, 2017 . The Company's total environmental reserve that management believes to be probable and estimable for environmental contingencies, including remediation costs and asset retirement obligations, is included as part of "Payables and other current liabilities" and "Other long-term liabilities" in the Unaudited Consolidated Statements of Financial Position as follows: (Dollars in millions) March 31, 2018 December 31, 2017 Environmental contingent liabilities, current $ 25 $ 25 Environmental contingent liabilities, long-term 277 279 Total $ 302 $ 304 Environmental Remediation Estimated future environmental expenditures for undiscounted remediation costs ranged from the best estimate or minimum of $278 million to the maximum of $478 million at March 31, 2018 and from the best estimate or minimum of $280 million to the maximum of $483 million at December 31, 2017 . The best estimate or minimum estimated future environmental expenditures are considered to be probable and reasonably estimable and include the amounts recognized at both March 31, 2018 and December 31, 2017 . Reserves for environmental remediation include liabilities expected to be paid within approximately 30 years . The amounts charged to pre-tax earnings for environmental remediation and related charges are included within "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings. Changes in the reserves for environmental remediation liabilities during first three months 2018 are summarized below: (Dollars in millions) Environmental Remediation Liabilities Balance at December 31, 2017 $ 280 Changes in estimates recognized in earnings and other 1 Cash reductions (3 ) Balance at March 31, 2018 $ 278 Environmental Asset Retirement Obligations An asset retirement obligation is an obligation for the retirement of a tangible long-lived asset that is incurred upon the acquisition, construction, development, or normal operation of that long-lived asset. The Company recognizes asset retirement obligations in the period in which they are incurred if a reasonable estimate of fair value can be made. The asset retirement obligations are discounted to expected present value and subsequently adjusted for changes in fair value. The associated estimated asset retirement costs are capitalized as part of the carrying value of the long-lived assets and depreciated over their useful life. Environmental asset retirement obligations consist primarily of closure and post-closure costs. For sites that have environmental asset retirement obligations, the best estimate recognized to date for these environmental asset retirement obligation costs was $24 million at both March 31, 2018 and December 31, 2017 . Non-Environmental Asset Retirement Obligations The Company has contractual asset retirement obligations not associated with environmental liabilities. Eastman's non-environmental asset retirement obligations are primarily associated with the future closure of leased manufacturing assets at Pace, Florida and Oulu, Finland. These recognized non-environmental asset retirement obligations were $49 million at both March 31, 2018 and December 31, 2017 .

LEGAL MATTERS

LEGAL MATTERS	3 Months Ended
	Mar. 31, 2018
Loss Contingency, Information about Litigation Matters [Abstract]
LEGAL MATTERS	LEGAL MATTERS From time to time, Eastman and its operations are parties to, or targets of, lawsuits, claims, investigations and proceedings, including product liability, personal injury, asbestos, patent and intellectual property, commercial, contract, environmental, antitrust, health and safety, and employment matters, which are handled and defended in the ordinary course of business. While the Company is unable to predict the outcome of these matters, it does not believe, based upon currently available facts, that the ultimate resolution of any such pending matters will have a material adverse effect on its overall financial condition, results of operations, or cash flows.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY A reconciliation of the changes in stockholders' equity for first three months 2018 is provided below: (Dollars in millions) Common Stock at Par Value Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock at Cost Total Eastman Stockholders' Equity Noncontrolling Interest Total Equity Balance at December 31, 2017 $ 2 $ 1,983 $ 6,802 $ (209 ) $ (3,175 ) $ 5,403 $ 77 $ 5,480 Cumulative Effect of Adoption of New Accounting Standards (1) — — 16 — — 16 — 16 Net Earnings — — 290 — — 290 — 290 Cash Dividends Declared (2) ($0.56 per share) — — (82 ) — — (82 ) — (82 ) Other Comprehensive Income — — — (3 ) — (3 ) — (3 ) Share-Based Compensation Expense (3) — 24 — — — 24 — 24 Stock Option Exercises — 13 — — — 13 — 13 Other (4) — (16 ) — — — (16 ) — (16 ) Share Repurchases — — — — (100 ) (100 ) — (100 ) Distributions to Noncontrolling Interest — — — — — — (2 ) (2 ) Balance at March 31, 2018 $ 2 $ 2,004 $ 7,026 $ (212 ) $ (3,275 ) $ 5,545 $ 75 $ 5,620 (1) On January 1, 2018, the Company adopted new accounting standards for revenue recognition, income taxes, and derivatives and hedging which resulted in adjustments to beginning retained earnings. See Note 1, "Significant Accounting Policies" , for specific amounts related to each standard. (2) Cash dividends declared includes cash dividends paid and dividends declared but unpaid. (3) Share-based compensation expense is the fair value of share-based awards. (4) Includes value of shares withheld for employees' taxes on vesting of share-based compensation awards. Accumulated Other Comprehensive Income (Loss), Net of Tax (Dollars in millions) Cumulative Translation Adjustment Benefit Plans Unrecognized Prior Service Credits Unrealized Gains (Losses) on Derivative Instruments Unrealized Losses on Investments Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2016 $ (381 ) $ 163 $ (62 ) $ (1 ) $ (281 ) Period change 85 (27 ) 14 — 72 Balance at December 31, 2017 (296 ) 136 (48 ) (1 ) (209 ) Period change 27 (7 ) (23 ) — (3 ) Balance at March 31, 2018 $ (269 ) $ 129 $ (71 ) $ (1 ) $ (212 ) Amounts of other comprehensive income (loss) are presented net of applicable taxes. Eastman records deferred income taxes on the CTA related to branch operations and income from other entities included in the Company's consolidated U.S. tax return. No deferred income taxes are provided on the CTA of other subsidiaries outside the United States, as the CTA is considered to be a component of indefinitely invested, unremitted earnings of these foreign subsidiaries. Components of other comprehensive income recognized in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings are presented below, before tax and net of tax effects: First Quarter 2018 2017 (Dollars in millions) Before Tax Net of Tax Before Tax Net of Tax Other comprehensive income (loss) Change in cumulative translation adjustment $ 27 $ 27 $ 7 $ 7 Defined benefit pension and other postretirement benefit plans: Amortization of unrecognized prior service credits included in net periodic benefit costs (10 ) (7 ) (11 ) (7 ) Derivatives and hedging: Unrealized gain (loss) during period (31 ) (23 ) (34 ) (21 ) Reclassification adjustment for (gains) losses included in net income, net — — (6 ) (4 ) Total other comprehensive income (loss) $ (14 ) $ (3 ) $ (44 ) $ (25 )

EARNINGS AND DIVIDENDS PER SHAR

EARNINGS AND DIVIDENDS PER SHARE	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
EARNINGS AND DIVIDENDS PER SHARE	EARNINGS AND DIVIDENDS PER SHARE The following table sets forth the computation of basic and diluted earnings per share ("EPS"): First Quarter (In millions, except per share amounts) 2018 2017 Numerator Earnings attributable to Eastman, net of tax $ 290 $ 278 Denominator Weighted average shares used for basic EPS 142.8 146.2 Dilutive effect of stock options and other awards 2.0 1.0 Weighted average shares used for diluted EPS 144.8 147.2 (Calculated using whole dollars and shares) EPS Basic $ 2.03 $ 1.90 Diluted $ 2.00 $ 1.89 Stock options excluded from the first quarter 2018 and 2017 calculations of diluted earnings per share were 407,573 and 1,008,667 , respectively, because the market value of option exercises for these awards were less than the cash proceeds that would be received from these exercises. First quarter 2018 and 2017 reflect the impact of share repurchases of 994,235 and 943,699 , respectively. The Company declared cash dividends of $0.56 and $0.51 per share in first quarter 2018 and 2017 , respectively.

ASSETS IMPAIRMENTS AND RESTRUCT

ASSETS IMPAIRMENTS AND RESTRUCTURING	3 Months Ended
	Mar. 31, 2018
Restructuring Costs and Asset Impairment Charges [Abstract]
ASSET IMPAIRMENTS AND RESTRUCTURING	ASSET IMPAIRMENTS AND RESTRUCTURING CHARGES, NET In first quarter 2018, the Company recognized restructuring charges of $2 million for corporate severance. There were no asset impairments and restructuring charges in first quarter 2017. Changes in Reserves The following table summarizes the changes in asset impairments and restructuring charges and gains, the non-cash reductions attributable to asset impairments, and the cash reductions in restructuring reserves for severance costs and site closure costs paid in first three months 2018 and full year 2017 : (Dollars in millions) Balance at January 1, 2018 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at March 31, 2018 Severance costs $ 19 $ 2 $ — $ (3 ) $ 18 Site closure and restructuring costs 10 — — — 10 Total $ 29 $ 2 $ — $ (3 ) $ 28 (Dollars in millions) Balance at January 1, 2017 Provision/ Adjustments Non-cash Reductions/ Additions Cash Reductions Balance at December 31, 2017 Non-cash charges $ — $ 1 $ (1 ) $ — $ — Severance costs 42 6 — (29 ) 19 Site closure and restructuring costs 13 1 1 (5 ) 10 Total $ 55 $ 8 $ — $ (34 ) $ 29 Substantially all severance costs remaining are expected to be applied to the reserves within one year.

SHARE-BASED COMPENSATION AWARDS

SHARE-BASED COMPENSATION AWARDS	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	SHARE-BASED COMPENSATION AWARDS The Company utilizes share-based awards under employee and non-employee director compensation programs. These share-based awards have included restricted and unrestricted stock, restricted stock units, stock options, and performance shares. In first quarter 2018 and 2017 , $24 million and $14 million , respectively, of compensation expense before tax were recognized in "Selling, general and administrative expenses" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for all share-based awards of which $5 million and $3 million , respectively, related to stock options. The compensation expense is recognized over the substantive vesting period, which may be shorter time period than the stated vesting period for qualifying termination eligible employees as defined in the forms of award notice. For first quarter 2018 and 2017 , $3 million and $2 million , respectively, of stock option compensation expense was recognized due to qualifying termination eligibility preceding the requisite service period. The impact on first quarter 2018 and 2017 net earnings of $18 million and $9 million , respectively, is net of deferred tax expense related to share-based award compensation for each period. Stock Option Grants In first quarter 2018 and 2017 , the number of stock options granted under the 2017 and 2012 Omnibus Stock Compensation Plans, respectively, were approximately 620,000 and 746,000 , respectively. Options have an exercise price equal to the closing price of the Company's stock on the date of grant. The term of options is 10 years with vesting periods that vary up to three years. Vesting usually occurs ratably over the vesting period or at the end of the vesting period. The Company utilizes the Black Scholes Merton option valuation model which relies on certain assumptions to estimate an option's fair value. The assumptions used in the determination of fair value for stock options granted in first quarter 2018 and 2017 are provided in the table below: First Quarter Assumptions 2018 2017 Expected volatility rate 19.03% 20.45% Expected dividend yield 2.48% 2.64% Average risk-free interest rate 2.61% 1.91% Expected term years 5.1 5.1 The grant date exercise price and fair value of options granted during first quarter 2018 were $104.21 and $15.90 , respectively, and first quarter 2017 were $80.25 and $11.79 , respectively. For options unvested at March 31, 2018, $8 million in compensation expense will be recognized over the next three years. Other Share-Based Compensation Awards In addition to stock option grants, the Company has awarded long-term performance share awards, restricted stock and restricted stock unit awards, and stock appreciation rights. The long-term performance share awards are based upon actual return on capital compared to a target return on capital and total stockholder return compared to a peer group ranking by total stockholder return over a three year performance period and pay out in unrestricted shares of common stock at the end of the performance period. The awards are valued using a Monte Carlo Simulation based model and vest pro-ratably over the three year performance period. The number of long-term performance share target awards during first quarter 2018 and 2017 for the 2018-2020 and 2017-2019 periods were approximately 310,000 and 360,000 , respectively. The target shares awarded are assumed to be 100 percent. At the end of the three-year performance period, the actual number of shares awarded can range from zero percent to 250 percent of the target shares based on the award notice. The number of restricted stock unit awards, which pay out in unrestricted shares of common stock at the end of the vesting and performance (if any) period, during first quarter 2018 and 2017 were approximately 135,000 and 150,000 , respectively. The fair value of a restricted stock unit award is equal to the closing stock price of the Company's stock on the award date and normally vests over a period of three years. In first quarter 2018 and 2017 , $19 million and $11 million , respectively, was recognized as compensation expense before tax for these other share-based awards and was included in the total compensation expense noted above for all share-based awards. The unrecognized compensation expense before tax for these same type awards at March 31, 2018 was approximately $100 million and will be recognized primarily over a period of three years. For additional information regarding share-based compensation plans and awards, see Note 17, "Share-Based Compensation Plans and Awards" , to the consolidated financial statements in Part II, Item 8 of the Company's 2017 Annual Report on Form 10-K.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	First Quarter Assumptions 2018 2017 Expected volatility rate 19.03% 20.45% Expected dividend yield 2.48% 2.64% Average risk-free interest rate 2.61% 1.91% Expected term years 5.1 5.1

OTHER (INCOME) CHARGES, NET (No

OTHER (INCOME) CHARGES, NET (Notes)	3 Months Ended
	Mar. 31, 2018
Other Income and Expenses [Abstract]
Other Income and Other Expense Disclosure [Text Block]	OTHER (INCOME) CHARGES, NET First Quarter (Dollars in millions) 2018 2017 Foreign exchange transaction (gains) losses, net $ — $ (1 ) (Income) loss from equity investments and other investment (gains) losses, net (5 ) (3 ) Costs resulting from tax law changes and outside-U.S. entity reorganizations 8 — Proceeds from property insurance (50 ) — Other, net 1 — Other (income) charges, net $ (46 ) $ (4 ) First quarter 2018 includes a $50 million gain from insurance for property damage from the disruption of the Kingsport site's coal gasification operations area resulting from the previously reported October 4, 2017 incident and $8 million currency translation costs resulting from fourth quarter 2017 tax law changes and related outside-U.S. entity reorganizations as part of the transition to an international treasury services center.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Included in the line item "Other items, net" of the "Operating activities" section of the Unaudited Consolidated Statements of Cash Flows are the following changes to Unaudited Consolidated Statements of Financial Position: (Dollars in millions) First Three Months 2018 2017 Other current assets $ (29 ) $ 5 Other noncurrent assets 14 9 Payables and other current liabilities (14 ) (36 ) Long-term liabilities and equity (1 ) (4 ) Total $ (30 ) $ (26 ) The above changes resulted primarily from accrued taxes, deferred taxes, environmental liabilities, monetized positions from raw material and energy, currency, and certain interest rate hedges, prepaid insurance, miscellaneous deferrals, value-added taxes, and other miscellaneous accruals.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Eastman's products and operations are managed and reported in four operating segments: Additives & Functional Products ("AFP"), Advanced Materials ("AM"), Chemical Intermediates ("CI"), and Fibers. Beginning January 1, 2018: • Eastman's primary measure of operating performance for all periods presented is EBIT on a consolidated and segment basis. Previously, the Company's primary measure of operating performance was operating earnings; • As a result of recent changes in the management of products and operations to better align resources for growth initiatives, certain products previously reported in the CI operating segment are reported in the AFP operating segment; and • Sales revenue and innovation costs from the textiles and nonwovens fiber innovation platform products previously reported in "Other" are reported in the Fibers operating segment due to accelerating commercial progress of growth initiatives. For additional financial and product information for each segment, see Part I, Item 1, "Business - Business Segments" and Part II, Item 8, Note 19, "Segment Information" , in the Company's 2017 Annual Report on Form 10-K. (Dollars in millions) First Quarter Sales by Segment 2018 2017 Additives & Functional Products $ 939 $ 773 Advanced Materials 693 634 Chemical Intermediates 730 670 Fibers 245 213 Total Sales by Operating Segment 2,607 2,290 Other — 13 Total Sales $ 2,607 $ 2,303 (Dollars in millions) First Quarter Earnings Before Interest and Taxes by Segment 2018 2017 Additives & Functional Products $ 176 $ 153 Advanced Materials 135 121 Chemical Intermediates 70 82 Fibers 43 52 Total Earnings Before Interest and Taxes by Operating Segment 424 408 Other Growth initiatives and businesses not allocated to operating segments (26 ) (28 ) Pension and other postretirement benefits income (expense), net not allocated to operating segments 21 18 Asset impairments and restructuring charges, net (2 ) — Other income (charges), net not allocated to operating segments (8 ) 3 Total Earnings Before Interest and Taxes $ 409 $ 401 (Dollars in millions) March 31, December 31, Assets by Segment (1) 2018 2017 Additives & Functional Products $ 6,784 $ 6,648 Advanced Materials 4,555 4,379 Chemical Intermediates 3,017 3,000 Fibers 999 929 Total Assets by Operating Segment 15,355 14,956 Corporate Assets 1,011 1,043 Total Assets $ 16,366 $ 15,999 (1) Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets. (Dollars in millions) First Quarter Sales by Customer Location 2018 2017 United States and Canada $ 1,100 $ 1,066 Asia Pacific 642 512 Europe, Middle East, and Africa 727 600 Latin America 138 125 Total Sales $ 2,607 $ 2,303

REVENUE RECOGNITION (Notes)

REVENUE RECOGNITION (Notes)	3 Months Ended
	Mar. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from Contract with Customer [Text Block]	REVENUE RECOGNITION On January 1, 2018, Eastman adopted ASU 2014-09 Revenue Recognition ("ASC" 606). Under this standard, the Company recognizes revenue when performance obligations of the sale are satisfied. Eastman sells to customers through master sales agreements or standalone purchase orders. The majority of the Company's terms of sale have a single performance obligation to transfer products. Accordingly, the Company recognizes revenue when control has been transferred to the customer, generally at the time of shipment of products. Under the previous revenue recognition accounting standard, the Company recognized revenue upon the transfer of title and risk of loss, generally upon delivery of goods. For further information see Note 1, "Significant Accounting Policies" . The Company's arrangement with a customer may include the act of shipping product to customers after the performance obligation related to that product has been satisfied. The Company has elected to account for shipping and handling as activities to fulfill the promise to transfer the good and has not allocated revenue to the shipping activity. All related shipping and handling costs are recognized at the time of shipment. Further, the Company's sales arrangements may include the collection of sales and other similar taxes that are then remitted to the related taxing authority. The Company has elected to present the amounts collected for these taxes net of the related tax expense rather than presenting them as additional revenue. The Company has elected to adopt several practical expedients as part of the adoption of ASU 2014-09 / ASC 606. The Company has elected the practical expedient to recognize the incremental cost of obtaining a sale (selling expense) as an expense when incurred given the potential amortization period for such asset is one year or less. Further, the Company has elected to use the practical expedient that allows the Company to ignore the possible existence of a significant financing component within sales arrangements where the time between cash collection and performance is less than one year. Finally, the Company has elected the practical expedient to not disclose unfulfilled obligations as customer purchase order commitments have an original expected duration of one year or less and no consideration from customers was excluded from the transaction price. The timing of billings do not always match the timing of revenue recognition. When the Company is entitled to bill a customer in advance of the recognition of revenue, deferred revenue is recognized. When the Company is not entitled to bill a customer until a period after the related recognition of revenue, a contract asset is recognized. Contract assets represent the Company's right to consideration for completed performance obligations under a contract but which are not yet billable to a customer for consignment inventory or pursuant to certain shipping terms. Deferred revenue was not material as of January 1, 2018 or March 31, 2018. Contract assets were $42 million as of January 1, 2018 and $57 million as of March 31, 2018 and are included as a component of "Trade receivables, net of allowance for doubtful accounts" in the Unaudited Consolidated Statement of Financial Position. The economic factors that impact the nature, amount, timing, and uncertainty of revenue and cash flows vary between the Company's business operating segments and the geographical regions in which they serve. For disaggregation of revenue by major product lines for each business operating segment, see "Business - Business Segments" in Part I, Item 1 of the Company's 2017 Annual Report on Form 10-K. The tables below summarize the impact of adopting the new standard on first quarter 2018 financial statements: First Quarter 2018 (Dollars in millions, except per share amounts) Current Standard Change Previous Standard Sales $ 2,607 $ (30 ) $ 2,577 Cost of sales 2,026 (13 ) 2,013 Gross profit 581 (17 ) 564 Earnings before interest and taxes 409 (17 ) 392 Net earnings attributable to Eastman 290 (14 ) 276 Basic earnings per share attributable to Eastman $ 2.03 $ (0.10 ) $ 1.93 Diluted earnings per share attributable to Eastman $ 2.00 $ (0.10 ) $ 1.90 First Quarter 2018 (Dollars in millions) Current Standard Change Previous Standard Additives & Functional Products Sales $ 939 $ 3 $ 942 Earnings before interest and taxes 176 (3 ) 173 Advanced Materials Sales 693 (20 ) 673 Earnings before interest and taxes 135 (10 ) 125 Chemical Intermediates Sales 730 17 747 Earnings before interest and taxes 70 6 76 Fibers Sales 245 (30 ) 215 Earnings before interest and taxes 43 (10 ) 33 Other Sales — — — Earnings before interest and taxes (15 ) — (15 ) As of March 31, 2018 (Dollars in millions) Current Standard Change Previous Standard Trade receivables, net of allowance for doubtful accounts $ 1,430 $ (30 ) $ 1,400 Miscellaneous receivables 319 (2 ) 317 Inventories 1,476 15 1,491 Total current assets 3,483 (17 ) 3,466

SIGNIFICANT ACCOUNTING POLICI24

SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
Basis of Presentation [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared by Eastman Chemical Company ("Eastman" or the "Company") in accordance and consistent with the accounting policies stated in the Company's 2017 Annual Report on Form 10-K, and should be read in conjunction with the consolidated financial statements in Part II, Item 8 of the Company's 2017 Annual Report on Form 10-K, with the exception of the items noted below. The December 31, 2017 financial position data included herein was derived from the audited consolidated financial statements included in the 2017 Annual Report on Form 10-K but does not include all disclosures required by accounting principles generally accepted in the United States ("GAAP"). In the opinion of management, the unaudited consolidated financial statements include all normal recurring adjustments necessary for fair statement of the interim financial information in conformity with GAAP. These statements contain some amounts that are based upon management estimates and judgments. Future actual results could differ from such current estimates. The unaudited consolidated financial statements include assets, liabilities, sales revenue, and expenses of all majority-owned subsidiaries and joint ventures in which a controlling interest is maintained. Eastman accounts for other joint ventures and investments where it exercises significant influence on the equity basis. Intercompany transactions and balances are eliminated in consolidation. Certain prior period data has been reclassified in the consolidated financial statements and accompanying footnotes to conform to current period presentation. As of January 1, 2018: • Eastman's primary measure of operating performance for all periods presented is earnings before interest and taxes ("EBIT") on a consolidated and segment basis. Previously, the Company's primary measure of operating performance was operating earnings. • As discussed below, the new accounting standard for the presentation of net periodic benefit costs requires the Company to present non-service cost components of net periodic benefit costs (interest cost, expected return on plan assets, curtailment gains or losses, amortization of prior service costs or credits, and mark-to-market gains or losses) separately from service cost. These non-service cost components were reclassified from "Cost of sales", "Selling, general and administrative expenses", and "Research and development expenses" line items and are now included in a new line item, "Other components of post-employment (benefit) cost, net" on the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for all periods presented. This reclassification does not change prior period EBIT and accordingly management does not consider this change to have a material impact on the Company's financial statements and related disclosures.

SIGNIFICANT ACCOUNTING POLICI25

SIGNIFICANT ACCOUNTING POLICIES Recently Issued Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards Accounting Standards Update ("ASU") 2014-09 Revenue Recognition (Accounting Standards Codification "ASC" 606): On January 1, 2018, Eastman adopted this standard under the modified retrospective method, such that revenue for all periods prior to January 1, 2018 continue to be reported under the previous standard, which resulted in an increase to retained earnings of $53 million after tax for products shipped but not delivered as of December 31, 2017. Under the new standard, the Company recognizes revenue when performance obligations of the sale are satisfied. The majority of the Company's terms of sale have a single performance obligation to transfer products. Accordingly, the Company recognizes revenue when control has been transferred to the customer, generally at the time of shipment of products. Under the previous revenue recognition accounting standard, the Company recognized revenue upon transfer of title and risk of loss, generally upon the delivery of goods. Management does not expect that changes in its accounting required by this new standard will materially impact the Company's financial statements and related disclosures when comparing 2018 under the new revenue standard to previous years under the prior standard. However, the difference in timing of revenue recognition under the current and former accounting standards is expected to have some impact on seasonal revenue and EBIT trends during 2018 compared to previous years. For further information, see Note 18, "Revenue Recognition" . ASU 2016-01 Financial Instruments: On January 1, 2018, Eastman adopted this standard relating to the recognition and measurement of financial assets and financial liabilities. This standard requires equity investments (except equity method and consolidated investments) to be measured at fair value with changes in fair value recognized in net income. Management has concluded that changes in its accounting required by the new standard will not materially impact the Company's financial statements and related disclosures. In February 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-03 as an update to the standard described above which is effective for the Company July 1, 2018. Management does not expect that changes in its accounting required by the update will materially impact the Company's financial statements and related disclosures. ASU 2016-16 Income Taxes - Intra-Entity Transfers: On January 1, 2018, Eastman adopted this standard under the modified retrospective method resulting in a beginning retained earnings decrease of $39 million . Under this standard, the Company is required to recognize the income tax consequence of an intra-entity transfer of an asset other than inventory when the transfer occurs. ASU 2017-05 Other Income - Gains and Losses from Derecognition of Nonfinancial Assets: On January 1, 2018, Eastman adopted this standard in conjunction with the revenue recognition standard mentioned above. This standard clarifies the scope of nonfinancial asset derecognition and the accounting for partial sales of nonfinancial assets. This adoption had no impact on the Company's financial statements and related disclosures in the current period. ASU 2017-07 Compensation - Retirement Benefits: On January 1, 2018, Eastman adopted this standard retrospectively for income statement effects and prospectively for balance sheet effects. This standard is intended to improve the presentation of net periodic pension and postretirement benefit costs by requiring the reporting of the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit costs (interest cost, expected return on plan assets, curtailment gains or losses, amortization of prior service costs or credits, and mark-to-market gains or losses) are to be presented in the income statement separately from the service cost component and outside the subtotal of income from operations, if presented. Management has concluded that changes in its accounting required by this new standard will not materially impact the Company's financial statements and related disclosures. ASU 2017-12 Derivatives and Hedging: On January 1, 2018, Eastman adopted this standard on a modified retrospective basis for income statement impacts and prospectively for presentation and disclosure resulting in a beginning retained earnings increase of $2 million related to the elimination of ineffectiveness recognized in "Accumulated other comprehensive income (loss)" ("AOCI") located in the Unaudited Consolidated Statements of Financial Position under the previous standard. This standard is intended to simplify the application of hedge accounting and improve the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in the financial statements. Management has included the additional disclosures required by this standard in Note 6, "Derivative and Non-Derivative Financial Instruments" . Accounting Standards Issued But Not Adopted as of March 31, 2018 ASU 2016-02 Leases: In February 2016, the FASB issued a standard on lease accounting. The new standard establishes two types of leases for lessees: finance and operating. Both finance and operating leases will have associated right-of-use assets and liabilities initially measured at the present value of the lease payments. This standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period and early adoption is permitted. The new standard is to be applied under a modified retrospective approach wherein practical expedients have been allowed that will not require reassessment of current leases at the effective date. In January 2018, the FASB issued an update to the new standard above in ASU 2018-01 that sets forth the requirement to assess land easements to determine if the arrangement should be accounted for as a lease. The effective date for this amended standard is the same as that of the lease standard stated above. Management is currently evaluating implementation options and impact on the Company's financial statements and related disclosures. ASU 2016-13 Financial Instruments - Credit Losses: In June 2016, the FASB issued a standard relating to credit losses. The amendments require a financial asset (including trade receivables) to be presented at the net amount expected to be collected through the use of allowances for credit losses valuation account. The income statement will reflect the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. This standard is effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period and early adoption is permitted, including adoption in an interim period, beginning after December 15, 2018. The new standard application is mixed among the various elements that include modified retrospective and prospective transition methods. Management does not expect that changes in its accounting required by the new standard will materially impact the Company's financial statements and related disclosures. ASU 2017-04 Intangibles - Goodwill and Other: In January 2017, the FASB issued a standard as a part of its simplification initiative that bases the impairment of goodwill on any difference for which the carrying value is greater than the fair value of the reporting unit. This standard is effective for annual reporting periods, or interim period testing performed, beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment testing performed after January 1, 2017. This standard is to be applied on a prospective basis for goodwill testing that occur after the effective date. Management does not expect that changes in its accounting required by the new standard will materially impact the Company's financial statements and related disclosures. ASU 2018-02 Income Statement - Reporting Comprehensive Income: In February 2018, the FASB issued a standard that allows the reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 "Tax Cuts and Jobs Act" ("Tax Reform Act"). The amount of the reclassification is the difference between the historical corporate income tax rate and the newly enacted tax rate. This standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period, for reporting periods for which financial statements have not yet been issued. The new standard is to be applied either in the period of adoption or retrospectively to each period (or periods) in which the effects of the change in the income tax rate in the Tax Reform Act is recognized. Management is currently evaluating implementation options and impact on the Company's financial statements and related disclosures.

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Schedule of inventories	March 31, December 31, (Dollars in millions) 2018 2017 Finished goods $ 1,031 $ 1,114 Work in process 241 213 Raw materials and supplies 504 470 Total inventories at FIFO or average cost 1,776 1,797 Less: LIFO reserve 300 288 Total inventories $ 1,476 $ 1,509

PAYABLES AND OTHER CURRENT LI27

PAYABLES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Schedule of payables and other current liabilities	March 31, December 31, (Dollars in millions) 2018 2017 Trade creditors $ 838 $ 842 Accrued payrolls, vacation, and variable-incentive compensation 120 199 Accrued taxes 67 111 Other 415 437 Total payables and other current liabilities $ 1,440 $ 1,589

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	First Quarter (Dollars in millions) 2018 2017 $ % $ % Provision for income taxes and tax rate $ 60 17 % $ 62 18 %

BORROWINGS (Tables)

BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-term Borrowings	March 31, December 31, (Dollars in millions) 2018 2017 Borrowings consisted of: 5.5% notes due November 2019 $ 250 $ 250 2.7% notes due January 2020 798 797 4.5% notes due January 2021 (1) 192 185 3.6% notes due August 2022 (1) 753 738 1.50% notes due May 2023 (2) 920 895 7 1/4% debentures due January 2024 197 197 7 5/8% debentures due June 2024 43 43 3.8% notes due March 2025 689 690 1.875% notes due November 2026 (2) 609 592 7.60% debentures due February 2027 195 195 4.8% notes due September 2042 493 493 4.65% notes due October 2044 871 871 Commercial paper and short term borrowings 588 389 Credit facilities borrowings 300 200 Capital leases and other 2 5 Total borrowings 6,900 6,540 Borrowings due within one year 589 393 Long-term borrowings $ 6,311 $ 6,147 (1) In January 2018, the Company entered into fixed-to-fixed cross-currency swaps with $180 million maturing 2021 and $320 million maturing 2022 and designated these swaps to hedge a portion of its net investment in a euro functional currency denominated subsidiary against foreign currency fluctuations. The hedged portion of the carrying value of the U.S. denominated 4.5% notes due January 2021 and 3.6% notes due August 2022 will fluctuate with changes in the euro exchange rate. During the three months ended March 31, 2018 , pre-tax losses of $11 million were recognized in "Other comprehensive income (loss)" ("OCI") for revaluation of the hedged portion of these notes. (2) The carrying value of the euro-denominated 1.50% notes due May 2023 and 1.875% notes due November 2026 will fluctuate with changes in the euro exchange rate. The carrying value of these euro-denominated borrowings have been designated as non-derivative net investment hedges of a portion of the Company's net investments in euro functional-currency denominated subsidiaries to offset foreign currency fluctuations. During the three months ended March 31, 2018 , pre-tax losses of $42 million were recognized in OCI for revaluation of these notes.
Fair Value of Borrowings	Fair Value Measurements at March 31, 2018 (Dollars in millions) Recorded Amount Total Fair Value Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Total borrowings $ 6,900 $ 7,192 $ 6,303 $ 889 Fair Value Measurements at December 31, 2017 (Dollars in millions) Recorded Amount December 31, 2017 Total Fair Value Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Total borrowings $ 6,540 $ 6,980 $ 6,386 $ 594

DERIVATIVE AND NON-DERIVATIVE30

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Cumulative basis adjustments for fair value hedges on balance sheet [Table Text Block]	As of March 31, 2018 and December 31, 2017 , the following amounts were included on the Unaudited Consolidated Statements of Financial Position related to cumulative basis adjustments for fair value hedges. (Dollars in millions) Carrying amount of the hedged liabilities Cumulative amount of fair value hedging loss adjustment included in the carrying amount of the hedged liability Line item in the Unaudited Consolidated Statements of Financial Position in which the hedged item is included March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 Long-term borrowings (1) $ (758 ) $ (760 ) $ 12 $ 10 (1) At March 31, 2018 and December 31, 2017 , the cumulative amount of fair value hedging loss adjustment remaining for hedged liabilities for which hedge accounting has been discontinued was $7 million and $6 million , respectively.
Derivative Instruments, Gain (Loss) [Table Text Block]	Location and Amount of Gain or (Loss) Recognized in Earnings on Fair Value and Cash Flow Hedging Relationships First Quarter 2018 2017 (Dollars in millions) Sales Cost of Sales Net Interest Expense Sales Cost of Sales Net Interest Expense Total amounts of income and expense line items presented in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in which the effects of fair value or cash flow hedges are recognized $ 2,607 $ 2,026 $ 59 $ 2,303 $ 1,698 $ 60 The effects of fair value and cash flow hedging: Gain or (loss) on fair value hedging relationships in Subtopic 815-20: Interest contracts (fixed-for-floating interest rate swaps): Hedged items — (1 ) Derivatives designated as hedging instruments — 1 Gain or (loss) on cash flow hedging relationships in Subtopic 815-20: Interest contracts (forward starting interest rate and treasury lock swap contracts): Amount of loss reclassified from AOCI into earnings (1 ) (1 ) Commodity Contracts: Amount of loss reclassified from AOCI into earnings (2 ) (7 ) Foreign Exchange Contracts: Amount of gain reclassified from AOCI into earnings 3 12
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following table presents the notional amounts outstanding at March 31, 2018 and December 31, 2017 associated with Eastman's hedging programs. Notional Outstanding March 31, 2018 December 31, 2017 Derivatives designated as cash flow hedges: Foreign Exchange Forward and Option Contracts (in millions) EUR/USD (in EUR) €498 €525 Commodity Forward and Collar Contracts Feedstock (in million barrels) 7 7 Energy (in million million british thermal units) 20 23 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swaps (in millions) $75 $75 Derivatives designated as net investment hedges: Cross-currency interest rate swaps (in millions) EUR/USD (in EUR) €416 — Non-derivatives designated as net investment hedges: Foreign Currency Net Investment Hedges (in millions) EUR/USD (in EUR) €1,241 €1,240
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The following table presents the effect of cash flow and net investment hedge accounting on OCI for first quarter 2018 and 2017 : (Dollars in millions) Change in amount of after tax gain (loss) recognized in OCI on derivatives Pre-tax amount of gain (loss) reclassified from OCI into earnings March 31, March 31, Hedging Relationships 2018 2017 2018 2017 Derivatives in cash flow hedging relationships: Commodity contracts $ (11 ) $ (16 ) $ (2 ) $ (7 ) Foreign exchange contracts (13 ) (10 ) 3 12 Forward starting interest rate and treasury lock swap contracts 1 1 (1 ) (1 ) Non-derivatives in net investment hedging relationships (pre-tax): Net investment hedges (42 ) (18 ) — — Derivatives in net investment hedging relationships (pre-tax): Cross-currency interest rate swaps (11 ) — — — Cross-currency interest rate swaps excluded component (11 ) — — —
Financial assets and liabilities valued on a recurring basis	The following table presents the financial assets and liabilities valued on a recurring and gross basis and includes where the financial assets and liabilities are located within the Unaudited Consolidated Statements of Financial Position as of March 31, 2018 and December 31, 2017 . The Financial Position and Fair Value Measurements of Hedging Instruments on a Gross Basis (Dollars in millions) Derivative Type Statements of Financial Position Classification March 31, 2018 Level 2 December 31, 2017 Level 2 Derivatives designated as cash flow hedges: Commodity contracts Other current assets $ 5 $ 9 Commodity contracts Other noncurrent assets 2 4 Foreign exchange contracts Other current assets 15 23 Foreign exchange contracts Other noncurrent assets 1 2 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Other current assets — 1 Total Derivative Assets $ 23 $ 39 Derivatives designated as cash flow hedges: Commodity contracts Payables and other current liabilities $ 31 $ 28 Commodity contracts Other long-term liabilities 10 10 Foreign exchange contracts Payables and other current liabilities 10 6 Foreign exchange contracts Other long-term liabilities 9 4 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Long-term borrowings 5 4 Derivatives designated as net investment hedges: Cross-currency interest rate swaps Long-term borrowings 22 — Total Derivative Liabilities $ 87 $ 52 Total Net Derivative Liabilities $ 64 $ 13

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Components of net periodic benefit cost	Components of net periodic benefit (credit) cost were as follows: First Quarter Pension Plans Other Postretirement Benefit Plans 2018 2017 2018 2017 (Dollars in millions) U.S. Non-U.S. U.S. Non-U.S. Service cost $ 9 $ 4 $ 9 $ 3 $ — $ 1 Interest cost 17 5 17 5 6 6 Expected return on assets (37 ) (9 ) (35 ) (8 ) (2 ) (2 ) Amortization of: Prior service credit, net — — (1 ) — (10 ) (10 ) Net periodic benefit (credit) cost $ (11 ) $ — $ (10 ) $ — $ (6 ) $ (5 )

ENVIRONMENTAL MATTERS AND ASS32

ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS (Tables)	3 Months Ended
	Mar. 31, 2018
Accrual for Environmental Loss Contingencies Disclosure [Abstract]
Schedule of environmental liabilities, current and non-current	(Dollars in millions) March 31, 2018 December 31, 2017 Environmental contingent liabilities, current $ 25 $ 25 Environmental contingent liabilities, long-term 277 279 Total $ 302 $ 304
Schedule of changes to environmental remediation liabilities	(Dollars in millions) Environmental Remediation Liabilities Balance at December 31, 2017 $ 280 Changes in estimates recognized in earnings and other 1 Cash reductions (3 ) Balance at March 31, 2018 $ 278

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Reconciliation of the changes in stockholders' equity	A reconciliation of the changes in stockholders' equity for first three months 2018 is provided below: (Dollars in millions) Common Stock at Par Value Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock at Cost Total Eastman Stockholders' Equity Noncontrolling Interest Total Equity Balance at December 31, 2017 $ 2 $ 1,983 $ 6,802 $ (209 ) $ (3,175 ) $ 5,403 $ 77 $ 5,480 Cumulative Effect of Adoption of New Accounting Standards (1) — — 16 — — 16 — 16 Net Earnings — — 290 — — 290 — 290 Cash Dividends Declared (2) ($0.56 per share) — — (82 ) — — (82 ) — (82 ) Other Comprehensive Income — — — (3 ) — (3 ) — (3 ) Share-Based Compensation Expense (3) — 24 — — — 24 — 24 Stock Option Exercises — 13 — — — 13 — 13 Other (4) — (16 ) — — — (16 ) — (16 ) Share Repurchases — — — — (100 ) (100 ) — (100 ) Distributions to Noncontrolling Interest — — — — — — (2 ) (2 ) Balance at March 31, 2018 $ 2 $ 2,004 $ 7,026 $ (212 ) $ (3,275 ) $ 5,545 $ 75 $ 5,620 (1) On January 1, 2018, the Company adopted new accounting standards for revenue recognition, income taxes, and derivatives and hedging which resulted in adjustments to beginning retained earnings. See Note 1, "Significant Accounting Policies" , for specific amounts related to each standard. (2) Cash dividends declared includes cash dividends paid and dividends declared but unpaid. (3) Share-based compensation expense is the fair value of share-based awards. (4) Includes value of shares withheld for employees' taxes on vesting of share-based compensation awards.
Accumulated Other Comprehensive Income (Loss)	(Dollars in millions) Cumulative Translation Adjustment Benefit Plans Unrecognized Prior Service Credits Unrealized Gains (Losses) on Derivative Instruments Unrealized Losses on Investments Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2016 $ (381 ) $ 163 $ (62 ) $ (1 ) $ (281 ) Period change 85 (27 ) 14 — 72 Balance at December 31, 2017 (296 ) 136 (48 ) (1 ) (209 ) Period change 27 (7 ) (23 ) — (3 ) Balance at March 31, 2018 $ (269 ) $ 129 $ (71 ) $ (1 ) $ (212 )
Schedule of components of comprehensive income (loss) before tax and net of tax effects	Components of other comprehensive income recognized in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings are presented below, before tax and net of tax effects: First Quarter 2018 2017 (Dollars in millions) Before Tax Net of Tax Before Tax Net of Tax Other comprehensive income (loss) Change in cumulative translation adjustment $ 27 $ 27 $ 7 $ 7 Defined benefit pension and other postretirement benefit plans: Amortization of unrecognized prior service credits included in net periodic benefit costs (10 ) (7 ) (11 ) (7 ) Derivatives and hedging: Unrealized gain (loss) during period (31 ) (23 ) (34 ) (21 ) Reclassification adjustment for (gains) losses included in net income, net — — (6 ) (4 ) Total other comprehensive income (loss) $ (14 ) $ (3 ) $ (44 ) $ (25 )

EARNINGS AND DIVIDENDS PER SH34

EARNINGS AND DIVIDENDS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings per share, basic and diluted	The following table sets forth the computation of basic and diluted earnings per share ("EPS"): First Quarter (In millions, except per share amounts) 2018 2017 Numerator Earnings attributable to Eastman, net of tax $ 290 $ 278 Denominator Weighted average shares used for basic EPS 142.8 146.2 Dilutive effect of stock options and other awards 2.0 1.0 Weighted average shares used for diluted EPS 144.8 147.2 (Calculated using whole dollars and shares) EPS Basic $ 2.03 $ 1.90 Diluted $ 2.00 $ 1.89

ASSETS IMPAIRMENTS AND RESTRU35

ASSETS IMPAIRMENTS AND RESTRUCTURING (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring Costs and Asset Impairment Charges [Abstract]
Restructuring and Related Costs [Table Text Block]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table summarizes the changes in asset impairments and restructuring charges and gains, the non-cash reductions attributable to asset impairments, and the cash reductions in restructuring reserves for severance costs and site closure costs paid in first three months 2018 and full year 2017 : (Dollars in millions) Balance at January 1, 2018 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at March 31, 2018 Severance costs $ 19 $ 2 $ — $ (3 ) $ 18 Site closure and restructuring costs 10 — — — 10 Total $ 29 $ 2 $ — $ (3 ) $ 28 (Dollars in millions) Balance at January 1, 2017 Provision/ Adjustments Non-cash Reductions/ Additions Cash Reductions Balance at December 31, 2017 Non-cash charges $ — $ 1 $ (1 ) $ — $ — Severance costs 42 6 — (29 ) 19 Site closure and restructuring costs 13 1 1 (5 ) 10 Total $ 55 $ 8 $ — $ (34 ) $ 29

SHARE-BASED COMPENSATION AWAR36

SHARE-BASED COMPENSATION AWARDS SHARE-BASED COMPENSATION AWARDS (Tables)	3 Months Ended
	Mar. 31, 2018
Share-based Compensation Awards [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	First Quarter Assumptions 2018 2017 Expected volatility rate 19.03% 20.45% Expected dividend yield 2.48% 2.64% Average risk-free interest rate 2.61% 1.91% Expected term years 5.1 5.1

OTHER (INCOME) CHARGES, NET (Ta

OTHER (INCOME) CHARGES, NET (Tables)	3 Months Ended
	Mar. 31, 2018
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	First Quarter (Dollars in millions) 2018 2017 Foreign exchange transaction (gains) losses, net $ — $ (1 ) (Income) loss from equity investments and other investment (gains) losses, net (5 ) (3 ) Costs resulting from tax law changes and outside-U.S. entity reorganizations 8 — Proceeds from property insurance (50 ) — Other, net 1 — Other (income) charges, net $ (46 ) $ (4 )

SUPPLEMENTAL CASH FLOW INFORM38

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Included in the line item "Other items, net" of the "Operating activities" section of the Unaudited Consolidated Statements of Cash Flows are the following changes to Unaudited Consolidated Statements of Financial Position: (Dollars in millions) First Three Months 2018 2017 Other current assets $ (29 ) $ 5 Other noncurrent assets 14 9 Payables and other current liabilities (14 ) (36 ) Long-term liabilities and equity (1 ) (4 ) Total $ (30 ) $ (26 )

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information Disclosure	(Dollars in millions) First Quarter Sales by Segment 2018 2017 Additives & Functional Products $ 939 $ 773 Advanced Materials 693 634 Chemical Intermediates 730 670 Fibers 245 213 Total Sales by Operating Segment 2,607 2,290 Other — 13 Total Sales $ 2,607 $ 2,303 (Dollars in millions) First Quarter Earnings Before Interest and Taxes by Segment 2018 2017 Additives & Functional Products $ 176 $ 153 Advanced Materials 135 121 Chemical Intermediates 70 82 Fibers 43 52 Total Earnings Before Interest and Taxes by Operating Segment 424 408 Other Growth initiatives and businesses not allocated to operating segments (26 ) (28 ) Pension and other postretirement benefits income (expense), net not allocated to operating segments 21 18 Asset impairments and restructuring charges, net (2 ) — Other income (charges), net not allocated to operating segments (8 ) 3 Total Earnings Before Interest and Taxes $ 409 $ 401 (Dollars in millions) March 31, December 31, Assets by Segment (1) 2018 2017 Additives & Functional Products $ 6,784 $ 6,648 Advanced Materials 4,555 4,379 Chemical Intermediates 3,017 3,000 Fibers 999 929 Total Assets by Operating Segment 15,355 14,956 Corporate Assets 1,011 1,043 Total Assets $ 16,366 $ 15,999 (1) Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets. (Dollars in millions) First Quarter Sales by Customer Location 2018 2017 United States and Canada $ 1,100 $ 1,066 Asia Pacific 642 512 Europe, Middle East, and Africa 727 600 Latin America 138 125 Total Sales $ 2,607 $ 2,303

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Abstract]
Quarterly Financial Information [Table Text Block]	First Quarter 2018 (Dollars in millions, except per share amounts) Current Standard Change Previous Standard Sales $ 2,607 $ (30 ) $ 2,577 Cost of sales 2,026 (13 ) 2,013 Gross profit 581 (17 ) 564 Earnings before interest and taxes 409 (17 ) 392 Net earnings attributable to Eastman 290 (14 ) 276 Basic earnings per share attributable to Eastman $ 2.03 $ (0.10 ) $ 1.93 Diluted earnings per share attributable to Eastman $ 2.00 $ (0.10 ) $ 1.90 First Quarter 2018 (Dollars in millions) Current Standard Change Previous Standard Additives & Functional Products Sales $ 939 $ 3 $ 942 Earnings before interest and taxes 176 (3 ) 173 Advanced Materials Sales 693 (20 ) 673 Earnings before interest and taxes 135 (10 ) 125 Chemical Intermediates Sales 730 17 747 Earnings before interest and taxes 70 6 76 Fibers Sales 245 (30 ) 215 Earnings before interest and taxes 43 (10 ) 33 Other Sales — — — Earnings before interest and taxes (15 ) — (15 ) As of March 31, 2018 (Dollars in millions) Current Standard Change Previous Standard Trade receivables, net of allowance for doubtful accounts $ 1,430 $ (30 ) $ 1,400 Miscellaneous receivables 319 (2 ) 317 Inventories 1,476 15 1,491 Total current assets 3,483 (17 ) 3,466

SIGNIFICANT ACCOUNTING POLICI41

SIGNIFICANT ACCOUNTING POLICIES Recently Issued Accounting Standards (Details) $ in Millions	Mar. 31, 2018USD ($)
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 53
Accounting Standards Update 2016-16 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	(39)
Accounting Standards Update 2017-12 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 2

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
At FIFO or average cost (approximates current cost) [Abstract]
Finished goods	$ 1,031	$ 1,114
Work in process	241	213
Raw materials and supplies	504	470
Total inventories	1,776	1,797
Less: LIFO Reserve	300	288
Total inventories	$ 1,476	$ 1,509
Inventories valued on the LIFO method	55.00%	60.00%

PAYABLES AND OTHER CURRENT LI43

PAYABLES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Trade creditors	$ 838	$ 842
Accrued payrolls, vacation, and variable-incentive compensation	120	199
Accrued taxes	67	111
Other	415	437
Total payables and other current liabilities	$ 1,440	$ 1,589

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Examination [Line Items]
Provision for income taxes	$ 60	$ 62
Effective Income Tax Rate Reconciliation, Percent	17.00%	18.00%

BORROWINGS Part 1 (Details) Sch

BORROWINGS Part 1 (Details) Schedule of Long-term Debt Instruments € in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Jan. 31, 2018USD ($)	Jan. 31, 2018EUR (€)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Change in cumulative translation adjustment, before tax		$ 27	$ 7
Total Borrowings		6,900				$ 6,540
Borrowings due within one year		589				393
5.5% notes due November 2019 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 250				250
Debt Instrument, Interest Rate, Stated Percentage		5.50%
Debt Instrument, Maturity Date		Nov. 30, 2019
2.7% notes due January 2020 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 798				797
Debt Instrument, Interest Rate, Stated Percentage		2.70%
Debt Instrument, Maturity Date		Jan. 31, 2020
4.5% notes due January 2021 [Member]
Debt Instrument [Line Items]
Long-term Debt	[1]	$ 192				185
Debt Instrument, Interest Rate, Stated Percentage		4.50%
Debt Instrument, Maturity Date		Jan. 31, 2021
3.6% notes due August 2022 [Member]
Debt Instrument [Line Items]
Long-term Debt	[1]	$ 753				738
Debt Instrument, Interest Rate, Stated Percentage		3.60%
Debt Instrument, Maturity Date		Aug. 31, 2022
1.5% notes due May 2023 [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 920				895
Debt Instrument, Interest Rate, Stated Percentage		1.50%
Debt Instrument, Maturity Date		May 31, 2023
7 1/4% debentures due January 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 197				197
Debt Instrument, Interest Rate, Stated Percentage		7.25%
Debt Instrument, Maturity Date		Jan. 31, 2024
7 5/8% debentures due June 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 43				43
Debt Instrument, Interest Rate, Stated Percentage		7.625%
Debt Instrument, Maturity Date		Jun. 30, 2024
3.8% notes due March 2025 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 689				690
Debt Instrument, Interest Rate, Stated Percentage		3.80%
Debt Instrument, Maturity Date		Mar. 31, 2025
1.875% notes due 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 609				592
Debt Instrument, Interest Rate, Stated Percentage		1.875%
Debt Instrument, Maturity Date		Nov. 30, 2026
7.60% debentures due February 2027 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 195				195
Debt Instrument, Interest Rate, Stated Percentage		7.60%
Debt Instrument, Maturity Date		Feb. 28, 2027
4.8% notes due September 2042 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 493				493
Debt Instrument, Interest Rate, Stated Percentage		4.80%
Debt Instrument, Maturity Date		Sep. 30, 2042
4.65% notes due October 2044 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 871				871
Debt Instrument, Interest Rate, Stated Percentage		4.65%
Debt Instrument, Maturity Date		Oct. 31, 2044
Commercial paper and short-term borrowings [Member]
Debt Instrument [Line Items]
Borrowings due within one year		$ 588				389
Credit Facility
Debt Instrument [Line Items]
Long-term Debt		300				200
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Long-term Debt		2				$ 5
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member]
Debt Instrument [Line Items]
Change in cumulative translation adjustment, before tax		(11)	0
Foreign Exchange [Member] | Net Investment Hedging [Member]
Debt Instrument [Line Items]
Change in cumulative translation adjustment, before tax		$ (42)	$ (18)
Euro Member Countries, Euro | Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member] | Notes Due January 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 180	€ 150
Euro Member Countries, Euro | Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member] | Notes Due August 2022 [Member] [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 320	€ 266
[1]	In January 2018, the Company entered into fixed-to-fixed cross-currency swaps with $180 million maturing 2021 and $320 million maturing 2022 and designated these swaps to hedge a portion of its net investment in a euro functional currency denominated subsidiary against foreign currency fluctuations. The hedged portion of the carrying value of the U.S. denominated 4.5% notes due January 2021 and 3.6% notes due August 2022 will fluctuate with changes in the euro exchange rate. During the three months ended March 31, 2018, pre-tax losses of $11 million were recognized in "Other comprehensive income (loss)" ("OCI") for revaluation of the hedged portion of these notes.
[2]	The carrying value of the euro-denominated 1.50% notes due May 2023 and 1.875% notes due November 2026 will fluctuate with changes in the euro exchange rate. The carrying value of these euro-denominated borrowings have been designated as non-derivative net investment hedges of a portion of the Company's net investments in euro functional-currency denominated subsidiaries to offset foreign currency fluctuations. During the three months ended March 31, 2018, pre-tax losses of $42 million were recognized in OCI for revaluation of these notes.

BORROWINGS Part 2 (Details) Cre

BORROWINGS Part 2 (Details) Credit Facility and Commercial Paper Borrowings € in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2018EUR (€)	Dec. 31, 2016USD ($)
Credit Facilities [Abstract]
Borrowings due within one year	$ 589	$ 393
2021 Term Loan [Member]
Credit Facilities [Abstract]
Credit Facility, Borrowing Capacity				$ 300
Debt Instrument, Term	5 years
Line of Credit Facility, Maximum Month-end Outstanding Amount	$ 200	$ 200
Line of Credit Facility, Interest Rate During Period	2.90%	2.60%
Revolving Credit Facility [Member]
Credit Facilities [Abstract]
Credit Facility, Borrowing Capacity	$ 1,250
Line of Credit Facility, Maximum Month-end Outstanding Amount	$ 0	$ 0
Line of Credit Facility, Expiration Date	Oct. 31, 2021
A/R Facility [Member]
Credit Facilities [Abstract]
Credit Facility, Borrowing Capacity	$ 250
Line of Credit Facility, Maximum Month-end Outstanding Amount	$ 100	0
Line of Credit Facility, Interest Rate During Period	2.69%
Line of Credit Facility, Expiration Date	Apr. 30, 2020
Commercial Paper [Member]
Credit Facilities [Abstract]
Commercial Paper	$ 452	$ 280
Debt, Weighted Average Interest Rate	2.30%	1.61%	2.30%
Factoring facilities [Member]
Credit Facilities [Abstract]
Credit Facility, Borrowing Capacity	$ 185
Borrowings due within one year	$ 136	$ 109
Debt, Weighted Average Interest Rate	1.32%	1.31%	1.32%
Transfers of Financial Assets Accounted for as Sale, Initial Fair Value of Assets Obtained as Proceeds | €			€ 150

BORROWINGS Part 3 (Details) Fai

BORROWINGS Part 3 (Details) Fair Value - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Borrowings	$ 6,900,000,000	$ 6,540,000,000
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	7,192,000,000	6,980,000,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	6,303,000,000	6,386,000,000
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Borrowings, Fair Value	889,000,000	594,000,000
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 0	$ 0

DERIVATIVE AND NON-DERIVATIVE48

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS Part 1 (Details) - Designated as Hedging Instrument [Member] € in Millions, bbl in Millions, MMBTU in Millions, $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2018USD ($)bblMMBTU	Mar. 31, 2018EUR (€)	Mar. 31, 2017USD ($)	Dec. 31, 2017EUR (€)	Mar. 31, 2018EUR (€)bblMMBTU	Jan. 31, 2018USD ($)	Jan. 31, 2018EUR (€)	Dec. 31, 2017USD ($)bblMMBTU	Dec. 31, 2017EUR (€)bblMMBTU
Foreign Exchange Contract [Member] | Euro Member Countries, Euro | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount					€ 498				€ 525
Commodity Contract [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | bbl	7				7			7	7
Energy Related Derivative [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | MMBTU	20				20			23	23
Interest Rate Contract [Member] | Fair Value Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount | $	$ 75							$ 75
Notes Due January 2021 and Notes Due August 2022 [Member] | Cross Currency Interest Rate Contract [Member] | Euro Member Countries, Euro | Net Investment Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount					€ 416				€ 0
Notes Due January 2021 [Member] | Cross Currency Interest Rate Contract [Member] | Euro Member Countries, Euro | Net Investment Hedging [Member]
Derivative [Line Items]
Debt Instrument, Face Amount						$ 180	€ 150
Notes Due August 2022 [Member] [Member] | Cross Currency Interest Rate Contract [Member] | Euro Member Countries, Euro | Net Investment Hedging [Member]
Derivative [Line Items]
Debt Instrument, Face Amount						$ 320	€ 266
1.50% Notes Due 2023 and 1.875% Notes Due 2026 [Member] | Euro Member Countries, Euro | Net Investment Hedging [Member]
Derivative [Line Items]
Notional Amount of Nonderivative Instruments	$ 1,500	€ 1,241	$ 1,500	€ 1,240

DERIVATIVE AND NON-DERIVATIVE49

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS Part 2 (Details) € in Millions, $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2018EUR (€)	Mar. 31, 2017USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Derivative Assets [Abstract]
Derivative Asset, Fair Value, Gross Asset	$ 23				$ 39
Derivative Liabilities [Abstract]
Derivative Liability, Fair Value, Gross Liability	87				52
Derivative, Fair Value, Net	64				13
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Derivative Assets [Abstract]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	5				9
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member]
Derivative Assets [Abstract]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	2				4
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Liabilities [Member]
Derivative Liabilities [Abstract]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	31				28
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivative Liabilities [Abstract]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	10				10
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Derivative Assets [Abstract]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	15				23
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member]
Derivative Assets [Abstract]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	1				2
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Liabilities [Member]
Derivative Assets [Abstract]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	10				6
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivative Assets [Abstract]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	9				4
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Derivative Assets [Abstract]
Fair Value Hedge Assets	0				1
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivative Liabilities [Abstract]
Fair Value Hedge Liabilities	5				4
Net Investment Hedging [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivative Liabilities [Abstract]
Fair Value Hedge Liabilities	22				0
Net Investment Hedging [Member] | Euro Member Countries, Euro | 1.50% Notes Due 2023 and 1.875% Notes Due 2026 [Member] | Designated as Hedging Instrument [Member]
Non-Derivatives, Carrying Value [Abstract]
Notional Amount of Nonderivative Instruments	1,500	€ 1,241	$ 1,500	€ 1,240
Fair Value Hedging [Member] | Interest Rate Contract [Member]
Derivatives, Fair Value [Line Items]
Hedged Liability, Fair Value Hedge	(758)				(760)
Derivative Liabilities [Abstract]
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	7				6
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	$ 12				$ 10

DERIVATIVE AND NON-DERIVATIVE50

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS Part 3 (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Sales	$ 2,607	$ 2,303
Cost of sales	2,026	1,698
Interest Income (Expense), Net	(59)	(60)
Amount After Tax of Gain (Loss) Recognized in Other Comprehensive Income On Derivatives, Effective Portion [Abstract]
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(23)		$ 14
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Change in cumulative translation adjustment, before tax	27	7
Summary of Derivative Instruments [Abstract]
Monetized positions and mark to market in accumulated other comprehensive income before tax	308		$ 214
Price Risk Cash Flow Hedge Unrealized Loss to be Reclassified During Next 12 Months	27
Commodity Contract [Member] | Cash Flow Hedging [Member]
Amount After Tax of Gain (Loss) Recognized in Other Comprehensive Income On Derivatives, Effective Portion [Abstract]
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(11)	(16)
Commodity Contract [Member] | Cash Flow Hedging [Member] | Cost of Sales [Member]
Pre-tax Amount of Gain (Loss) reclassified From Accumulated Other Comprehensive Income Into Income (Effective Portion) [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2)	(7)
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member]
Amount After Tax of Gain (Loss) Recognized in Other Comprehensive Income On Derivatives, Effective Portion [Abstract]
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(13)	(10)
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Sales [Member]
Pre-tax Amount of Gain (Loss) reclassified From Accumulated Other Comprehensive Income Into Income (Effective Portion) [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	3	12
Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Amount After Tax of Gain (Loss) Recognized in Other Comprehensive Income On Derivatives, Effective Portion [Abstract]
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	1	1
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Net Interest Expense
Pre-tax Amount of Gain (Loss) reclassified From Accumulated Other Comprehensive Income Into Income (Effective Portion) [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(1)	(1)
Interest Rate Contract [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	(1)
Interest Rate Contract [Member] | Fair Value Hedging [Member] | Net Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Fair Value Hedges Recognized in Earnings	0	1
Foreign Exchange [Member] | Net Investment Hedging [Member]
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Change in cumulative translation adjustment, before tax	(42)	(18)
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(8)	(6)
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member]
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Change in cumulative translation adjustment, before tax	(11)	0
AOCI, Derivative Qualifying as Hedge, Excluded Component	$ (11)	$ 0

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Postretirement Benefits Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	$ 0	$ 1
Interest cost	6	6
Expected return on assets	(2)	(2)
Prior service credit, net	(10)	(10)
Net periodic benefit (credit) cost	(6)	(5)
Foreign Plan [Member] | Pension Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	4	3
Interest cost	5	5
Expected return on assets	(9)	(8)
Prior service credit, net	0	0
Net periodic benefit (credit) cost	0	0
Domestic Plan [Member] | Pension Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	9	9
Interest cost	17	17
Expected return on assets	(37)	(35)
Prior service credit, net	0	(1)
Net periodic benefit (credit) cost	$ (11)	$ (10)

COMMITMENTS (Details)

COMMITMENTS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Commitments [Line Items]
Unrecorded Unconditional Purchase Obligation, Purchases	$ 2,900
Unrecorded Unconditional Purchase Obligation, Term	30 years
Leases, Operating [Abstract]
Operating Lease Commitments, Cancelable Noncancelable and Month-to-month	$ 254
Lessee, Operating Lease, Term of Contract	40 years
Guarantees [Abstract]
Operating Lease Residual Value Guarantees	$ 71
Term, other guarantees	30 years
Maximum potential future payment, other guarantees	$ 35
Transfers and Servicing of Financial Assets [Abstract]
Receivable Sold Under Factoring Arrangement	$ 39	$ 3
Real Property [Member]
Leases, Operating [Abstract]
Percent of total lease commitments	50.00%
Railcars [Member]
Leases, Operating [Abstract]
Percent of total lease commitments	40.00%
Machinery and Equipment [Member]
Leases, Operating [Abstract]
Percent of total lease commitments	10.00%

ENVIRONMENTAL MATTERS AND ASS53

ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Site Contingency [Line Items]
Portion Of Environmental Reserve Related To Previously Closed, Impaired, And Divested Sites	$ 7	$ 7
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning of period	304
End of period	302
Accrual for Environmental Loss Contingencies, Balance Sheet Classification [Abstract]
Accrued Environmental Loss Contingencies, Current	25	25
Accrued Environmental Loss Contingencies, Noncurrent	277	279
Environmental Remediation [Member]
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning of period	280
Changes in estimates recognized in earnings and other	1
Cash reductions	(3)
End of period	$ 278
Expected Payment Period of Environmental Contingencies	approximately 30 years
Environmental Remediation [Member] | Minimum [Member]
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 278	280
Environmental Remediation [Member] | Maximum [Member]
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	478	483
Environmental ARO [Member]
Site Contingency [Line Items]
Best Estimate Accrued to-date For Asset Retirement Obligation	24	24
Non Environmental ARO [Member]
Site Contingency [Line Items]
Best Estimate Accrued to-date For Asset Retirement Obligation	$ 49	$ 49

STOCKHOLDERS' EQUITY STOCKHOLDE

STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY Part 1 (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended			12 Months Ended
		Mar. 31, 2018		Mar. 31, 2017	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Dividends, Per Share		$ 0.56		$ 0.51
Stockholders' Equity Attributable to Parent		$ 5,545			$ 5,403
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		5,620			5,480
Cumulative Effect of New Accounting Principle in Period of Adoption		16
Net earnings attributable to Eastman		290		$ 278
Net earnings attributable to noncontrolling interest		0		1
Net earnings including noncontrolling interest		290		279
Cash dividends declared		(82)	[1]	(74)
Other Comprehensive Income		(3)		$ (25)	72
Share-based Compensation Expense	[2]	24
Stock Option Exercises		13
Other (4)		(16)
Share Repurchases		(100)
Distributions to Noncontrolling Interest		(2)
Common Stock [Member]
Stockholders' Equity Attributable to Parent		2			2
Cumulative Effect of New Accounting Principle in Period of Adoption		0
Net earnings attributable to Eastman		0
Cash dividends declared	[1]	0
Other Comprehensive Income		0
Share-based Compensation Expense	[2]	0
Stock Option Exercises		0
Other (4)		0
Share Repurchases		0
Distributions to Noncontrolling Interest		0
Additional Paid-in Capital [Member]
Stockholders' Equity Attributable to Parent		2,004			1,983
Cumulative Effect of New Accounting Principle in Period of Adoption		0
Net earnings attributable to Eastman		0
Cash dividends declared	[1]	0
Other Comprehensive Income		0
Share-based Compensation Expense	[2]	24
Stock Option Exercises		13
Other (4)		(16)
Share Repurchases		0
Distributions to Noncontrolling Interest		0
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent		7,026			6,802
Cumulative Effect of New Accounting Principle in Period of Adoption		16
Net earnings attributable to Eastman		290
Cash dividends declared	[1]	(82)
Other Comprehensive Income		0
Share-based Compensation Expense	[2]	0
Stock Option Exercises		0
Other (4)		0
Share Repurchases		0
Distributions to Noncontrolling Interest		0
Accumulated Other Comprehensive Income (Loss) [Member]
Stockholders' Equity Attributable to Parent		(212)			(209)
Cumulative Effect of New Accounting Principle in Period of Adoption		0
Net earnings attributable to Eastman		0
Cash dividends declared	[1]	0
Other Comprehensive Income		(3)
Share-based Compensation Expense	[2]	0
Stock Option Exercises		0
Other (4)		0
Share Repurchases		0
Distributions to Noncontrolling Interest		0
Treasury Stock [Member]
Stockholders' Equity Attributable to Parent		(3,275)			(3,175)
Cumulative Effect of New Accounting Principle in Period of Adoption		0
Net earnings attributable to Eastman		0
Cash dividends declared	[1]	0
Other Comprehensive Income		0
Share-based Compensation Expense	[2]	0
Stock Option Exercises		0
Other (4)		0
Share Repurchases		(100)
Distributions to Noncontrolling Interest		0
Parent [Member]
Stockholders' Equity Attributable to Parent		5,545			5,403
Cumulative Effect of New Accounting Principle in Period of Adoption		16
Net earnings attributable to Eastman		290
Cash dividends declared	[1]	(82)
Other Comprehensive Income		(3)
Share-based Compensation Expense	[2]	24
Stock Option Exercises		13
Other (4)		(16)
Share Repurchases		(100)
Distributions to Noncontrolling Interest		0
Noncontrolling Interest [Member]
Stockholders' Equity Attributable to Parent		75			$ 77
Cumulative Effect of New Accounting Principle in Period of Adoption		0
Net earnings attributable to noncontrolling interest		0
Cash dividends declared	[1]	0
Other Comprehensive Income		0
Share-based Compensation Expense	[2]	0
Stock Option Exercises		0
Other (4)		0
Share Repurchases		0
Distributions to Noncontrolling Interest		$ (2)
[1]	Cash dividends declared includes cash dividends paid and dividends declared but unpaid.
[2]	Share-based compensation expense is the fair value of share-based awards.

STOCKHOLDERS' EQUITY STOCKHOL55

STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY Part 2 AOCI (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative Translation Adjustment	$ (269)		$ (296)	$ (381)
Change in cumulative translation adjustment	27	$ 7	85
Benefit Plans Unrecognized Prior Service Credits	129		136	163
Change in Benefit Plans Unrecognized Prior Service Credits	(7)		(27)
Unrealized Gains (Losses) on Derivative Instruments	(71)		(48)	(62)
Change in Unrealized Gains (Losses) on Derivative Instruments	(23)		14
Unrealized Losses on Investments	(1)		(1)	(1)
Change in Unrealized Losses on Investments	0		0
Accumulated Other Comprehensive Income (Loss), Net of Tax	(212)		(209)	$ (281)
Total other comprehensive income (loss), net of tax	$ (3)	$ (25)	$ 72

STOCKHOLDERS' EQUITY STOCKHOL56

STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY Part 3 OCI (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Other Comprehensive Income (Loss), before Tax [Abstract]
Change in cumulative translation adjustment, before tax	$ 27	$ 7
Amortization of unrecognized prior service credits included in net periodic costs, before tax	(10)	(11)
Unrealized gain (loss), before tax	(31)	(34)
Reclassification adjustment for (gain) loss included in net income, before tax	0	(6)
Total other comprehensive income (loss), before tax	(14)	(44)
Change in cumulative translation adjustment	27	7	$ 85
Amortization of unrecognized prior service credits included in net periodic (credit) cost	(7)	(7)
Unrealized gain (loss)	(23)	(21)
Reclassification adjustment for (gains) losses included in net income, net	0	(4)
Total other comprehensive income (loss), net of tax	$ (3)	$ (25)	$ 72

EARNINGS AND DIVIDENDS PER SH57

EARNINGS AND DIVIDENDS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net earnings attributable to Eastman	$ 290	$ 278
Weighted average shares used for basic EPS (in shares)	142,800,000	146,200,000
Dilutive effect of stock options and other awards	2,000,000	1,000,000
Weighted average shares used for diluted EPS (in shares)	144,800,000	147,200,000
Earnings Per Share, Basic	$ 2.03	$ 1.90
Earnings Per Share, Diluted	$ 2	$ 1.89
Underlying options excluded from the computation of diluted earnings per share (in shares)	407,573	1,008,667
Shares repurchased (in shares)	994,235	943,699
Cash dividends declared (per share)	$ 0.56	$ 0.51

ASSETS IMPAIRMENTS AND RESTRU58

ASSETS IMPAIRMENTS AND RESTRUCTURING (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Total	$ 2	$ 0
Restructuring Charge [Roll Forward]
Balance at Beginning of Period	29	55	$ 55
Provision / Adjustments	2		8
Restructuring Reserve, Accrual Adjustment	0
Non-cash Reductions			0
Cash Reductions	(3)		(34)
Balance at End of Period	28		29
Facility Closing [Member]
Restructuring Charge [Roll Forward]
Balance at Beginning of Period	10	13	13
Provision / Adjustments	0		1
Restructuring Reserve, Accrual Adjustment	0		1
Cash Reductions	0		(5)
Balance at End of Period	10		10
Employee Severance [Member]
Restructuring Charge [Roll Forward]
Balance at Beginning of Period	19	42	42
Provision / Adjustments	2		6
Restructuring Reserve, Accrual Adjustment	0		0
Cash Reductions	(3)		(29)
Balance at End of Period	18		19
Non-Cash Charges [Member]
Restructuring Charge [Roll Forward]
Balance at Beginning of Period	$ 0	$ 0	0
Provision / Adjustments			1
Non-cash Reductions			(1)
Cash Reductions			0
Balance at End of Period			$ 0

SHARE-BASED COMPENSATION AWAR59

SHARE-BASED COMPENSATION AWARDS (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before tax	$ 24	$ 14
Share-based compensation net of deferred tax expense	18	9
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before tax	$ 5	$ 3
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	620,000	746,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	19.03%	20.45%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	2.48%	2.64%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.61%	1.91%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years 1 month	5 years 1 month
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 104.21	$ 80.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 15.90	$ 11.79
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 8
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	310,000	360,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	135,000	150,000
Other Share-Based Compensation Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before tax	$ 19	$ 11
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 100
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years
Minimum [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	0.00%
Maximum [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		250.00%
Qualifying Termination Eligibility Preceding Requisite Service Period [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before tax	$ 3	$ 2

OTHER (INCOME) CHARGES, NET (De

OTHER (INCOME) CHARGES, NET (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Income and Expenses [Abstract]
Foreign exchange transaction (gains) losses, net	$ 0	$ (1)
(Income) loss from equity investments and other investment (gains) losses, net	(5)	(3)
Costs resulting from tax law changes and outside-U.S. entity reorganizations	8	0
Gain from property insurance	(50)	0
Other, net	1	0
Other (income) charges, net	$ 46	$ 4

SUPPLEMENTAL CASH FLOW INFORM61

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Supplemental Cash Flow Information [Abstract]
Other current assets	$ (29)	$ 5
Other noncurrent assets	14	9
Payables and other current liabilities	(14)	(36)
Long-term liabilities and equity	(1)	(4)
Total	$ (30)	$ (26)

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Millions		3 Months Ended
		Mar. 31, 2018USD ($)Segment	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments | Segment		4
Sales [Abstract]
Sales		$ 2,607	$ 2,303
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		409	401
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	16,366		$ 15,999
Operating Segments [Member]
Sales [Abstract]
Sales		2,607	2,290
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		424	408
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	15,355		14,956
Corporate, Non-Segment [Member]
Sales [Abstract]
Sales		0	13
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		(15)
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	1,011		1,043
Growth Initiatives and Businesses not Allocated to Segments [Member] | Corporate, Non-Segment [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		(26)	(28)
Pension and OPEB Costs Not Allocated to Operating Segments [Member] | Corporate, Non-Segment [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		21	18
Restructuring and acquisition integration and transaction costs [Member] | Corporate, Non-Segment [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		(2)	0
Other Nonoperating Income (Expense) [Member] | Corporate, Non-Segment [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		(8)	3
Additives And Functional Products [Member] | Operating Segments [Member]
Sales [Abstract]
Sales		939	773
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		176	153
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	6,784		6,648
Advanced Materials [Member] | Operating Segments [Member]
Sales [Abstract]
Sales		693	634
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		135	121
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	4,555		4,379
Chemical Intermediates [Member] | Operating Segments [Member]
Sales [Abstract]
Sales		730	670
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		70	82
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	3,017		3,000
Fibers [Member] | Operating Segments [Member]
Sales [Abstract]
Sales		245	213
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		43	52
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	999		$ 929
North America [Member]
Sales [Abstract]
Sales		1,100	1,066
Asia Pacific [Member]
Sales [Abstract]
Sales		642	512
EMEA [Member]
Sales [Abstract]
Sales		727	600
Latin America [Member]
Sales [Abstract]
Sales		$ 138	$ 125
[1]	Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets.

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with Customer, Asset, Net	$ 57		$ 42
Income Statement [Abstract]
Sales	2,607	$ 2,303
Cost of sales	2,026	1,698
Gross Profit	581	605
Earnings before interest and taxes	409	401
Net earnings attributable to Eastman	$ 290	$ 278
Basic earnings per share attributable to Eastman	$ 2.03	$ 1.90
Diluted earnings per share attributable to Eastman	$ 2	$ 1.89
Balance Sheet Related Disclosures [Abstract]
Trade receivables, net of allowance for doubtful accounts	$ 1,430		1,026
Miscellaneous receivables	319		360
Inventories	1,476		1,509
Assets, Current	3,483		$ 3,143
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Income Statement [Abstract]
Sales	(30)
Cost of sales	(13)
Gross Profit	(17)
Earnings before interest and taxes	(17)
Net earnings attributable to Eastman	$ (14)
Basic earnings per share attributable to Eastman	$ (0.10)
Diluted earnings per share attributable to Eastman	$ (0.10)
Balance Sheet Related Disclosures [Abstract]
Trade receivables, net of allowance for doubtful accounts	$ (30)
Miscellaneous receivables	(2)
Inventories	15
Assets, Current	(17)
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Additives And Functional Products [Member]
Income Statement [Abstract]
Sales	3
Earnings before interest and taxes	(3)
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Advanced Materials [Member]
Income Statement [Abstract]
Sales	(20)
Earnings before interest and taxes	(10)
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Chemical Intermediates [Member]
Income Statement [Abstract]
Sales	17
Earnings before interest and taxes	6
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Fibers [Member]
Income Statement [Abstract]
Sales	(30)
Earnings before interest and taxes	(10)
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Corporate, Non-Segment [Member]
Income Statement [Abstract]
Earnings before interest and taxes	0
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Income Statement [Abstract]
Sales	2,577
Cost of sales	2,013
Gross Profit	564
Earnings before interest and taxes	392
Net earnings attributable to Eastman	$ 276
Basic earnings per share attributable to Eastman	$ 1.93
Diluted earnings per share attributable to Eastman	$ 1.90
Balance Sheet Related Disclosures [Abstract]
Trade receivables, net of allowance for doubtful accounts	$ 1,400
Miscellaneous receivables	317
Inventories	1,491
Assets, Current	3,466
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Additives And Functional Products [Member]
Income Statement [Abstract]
Sales	942
Earnings before interest and taxes	173
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Advanced Materials [Member]
Income Statement [Abstract]
Sales	673
Earnings before interest and taxes	125
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Chemical Intermediates [Member]
Income Statement [Abstract]
Sales	747
Earnings before interest and taxes	76
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Fibers [Member]
Income Statement [Abstract]
Sales	215
Earnings before interest and taxes	33
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Corporate, Non-Segment [Member]
Income Statement [Abstract]
Earnings before interest and taxes	(15)
Operating Segments [Member]
Income Statement [Abstract]
Sales	2,607	$ 2,290
Earnings before interest and taxes	424	408
Operating Segments [Member] | Additives And Functional Products [Member]
Income Statement [Abstract]
Sales	939	773
Earnings before interest and taxes	176	153
Operating Segments [Member] | Advanced Materials [Member]
Income Statement [Abstract]
Sales	693	634
Earnings before interest and taxes	135	121
Operating Segments [Member] | Chemical Intermediates [Member]
Income Statement [Abstract]
Sales	730	670
Earnings before interest and taxes	70	82
Operating Segments [Member] | Fibers [Member]
Income Statement [Abstract]
Sales	245	213
Earnings before interest and taxes	43	52
Corporate, Non-Segment [Member]
Income Statement [Abstract]
Sales	0	$ 13
Earnings before interest and taxes	(15)
Corporate, Non-Segment [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Income Statement [Abstract]
Sales	0
Corporate, Non-Segment [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Income Statement [Abstract]
Sales	$ 0