Eastman Chemical (EMN) 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Mar. 31, 2022shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-12626
Entity Registrant Name	EASTMAN CHEMICAL CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	62-1539359
Entity Address, Address Line One	200 South Wilcox Drive
Entity Address, City or Town	Kingsport
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37662
City Area Code	423
Local Phone Number	229-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	128,882,363
Entity Central Index Key	0000915389
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	EMN
Security Exchange Name	NYSE
1.5% notes due May 2023 [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.50% Notes Due 2023
Trading Symbol	EMN23
Security Exchange Name	NYSE
1.875% notes due November 2026 [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.875% Notes Due 2026
Trading Symbol	EMN26
Security Exchange Name	NYSE

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF EARNINGS, COMPREHENSIVE INCOME AND RETAINED EARNINGS - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Sales		$ 2,714	$ 2,409
Cost of sales		2,164	1,811
Gross profit		550	598
Selling, general and administrative expenses		196	184
Research and development expenses		65	58
Asset impairments and restructuring charges, net		2	7
Other components of post-employment (benefit) cost, net		(31)	(36)
Other (income) charges, net		(12)	(4)
Gain on divested business		(3)	0
Earnings before interest and taxes		333	389
Net interest expense		46	50
Earnings before income taxes		287	339
Provision for income taxes		51	62
Net earnings		236	277
Less: Net earnings attributable to noncontrolling interest		1	3
Net earnings attributable to Eastman		$ 235	$ 274
Earnings Per Share, Basic [Abstract]
Basic earnings per share attributable to Eastman		$ 1.82	$ 2.01
Diluted earnings per share attributable to Eastman
Diluted earnings per share attributable to Eastman		$ 1.80	$ 1.99
Comprehensive Income
Net earnings including noncontrolling interest		$ 236	$ 277
Other comprehensive income (loss), net of tax:
Change in cumulative translation adjustment		7	2
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits		(6)	(7)
Derivatives and hedging:
Unrealized gain (loss) during period		40	25
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax		(4)	5
Other Comprehensive Income (Loss)		37	25
Comprehensive income including noncontrolling interest		273	302
Less: Net earnings attributable to noncontrolling interest		1	3
Comprehensive income (loss) attributable to Eastman		272	299
Retained Earnings
Retained earnings at beginning of period		8,557	8,080
Net earnings attributable to Eastman		235	274
Cash dividends declared	[1]	(98)	(94)
Retained earnings at end of period		$ 8,694	$ 8,260
[1]	Cash dividends declared consists of cash dividends paid and dividends declared but unpaid.

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents		$ 487	$ 459
Trade receivables, net of allowance for doubtful accounts		1,187	1,091
Miscellaneous receivables		461	489
Inventories		1,671	1,504
Other current assets		93	96
Assets held for sale		1,030	1,007
Total current assets		4,929	4,646
Properties
Properties and equipment at cost		12,753	12,680
Less: Accumulated depreciation		7,756	7,684
Net properties		4,997	4,996
Goodwill		3,665	3,641
Intangible assets, net of accumulated amortization		1,303	1,362
Other noncurrent assets		912	874
Total assets	[1]	15,806	15,519
Current liabilities
Payables and other current liabilities		2,053	2,133
Borrowings due within one year		984	747
Liabilities held for sale		99	91
Total current liabilities		3,136	2,971
Long-term borrowings		4,379	4,412
Deferred income tax liabilities		795	810
Post-employment obligations		799	811
Other long-term liabilities		720	727
Total liabilities		$ 9,829	$ 9,731
Common stock, shares issued (in shares)		222,271,829	221,809,309
Common stock, par value (in dollars per share)		$ 0.01
Stockholders' equity
Common stock ($0.01 par value – 350,000,000 shares authorized; shares issued – 222,271,829 and 221,809,309 for 2022 and 2021, respectively)		$ 2	$ 2
Additional paid-in capital		2,262	2,187
Retained earnings		8,694	8,557
Accumulated other comprehensive income (loss)		(145)	(182)
Stockholder's Equity before Treasury Stock		10,813	10,564
Less: Treasury stock at cost (93,440,264 and 92,892,229 shares for 2022 and 2021, respectively)		4,920	4,860
Total Eastman stockholders' equity		5,893	5,704
Noncontrolling interest		84	84
Total equity		5,977	5,788
Total liabilities and stockholders' equity		$ 15,806	$ 15,519
Treasury stock at cost (in shares)		93,440,264	92,892,229
Common stock, shares authorized (in shares)		350,000,000
[1]	Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets. As disclosed in Note 1, "Significant Accounting Policies", December 31, 2021 Assets by Segment have been recast from Note 20, "Segment and Regional Sales Information", to the Company's 2021 Annual Report on Form 10-K. Prior to the recast, December 31, 2021 assets reported for the AFP segment were revised from $4,643 million to $5,195 million, and assets reported for Corporate & Other Assets were revised from $2,540 million to $1,988 million. Total assets were not impacted by the misclassification.

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net earnings	$ 236	$ 277
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	121	149
Gain on divested business	(3)	0
Provision for (benefit from) deferred income taxes	(24)	2
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
(Increase) decrease in trade receivables	(127)	(211)
(Increase) decrease in inventories	(184)	(144)
Increase (decrease) in trade payables	152	197
Pension and other postretirement contributions (in excess of) less than expenses	(43)	(53)
Variable compensation (in excess of) less than expenses	(168)	(78)
Other items, net	57	77
Net cash provided by operating activities	17	216
Investing activities
Additions to properties and equipment	(112)	(91)
Additions to capitalized software	(3)	(6)
Other items, net	(2)	(2)
Net cash used in investing activities	(117)	(99)
Financing activities
Net increase (decrease) in commercial paper and other borrowings	236	(25)
Dividends paid to stockholders	(98)	(94)
Treasury stock purchases	0	(40)
Proceeds from stock option exercises and other items, net	(9)	22
Net cash provided by (used in) financing activities	129	(137)
Effect of exchange rate changes on cash and cash equivalents	(1)	(4)
Net change in cash and cash equivalents	28	(24)
Cash and cash equivalents at beginning of period	459	564
Cash and cash equivalents at end of period	$ 487	$ 540

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES (Notes)	3 Months Ended
	Mar. 31, 2022
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 2021 Annual Report on Form 10-K , and should be read in conjunction with the consolidated financial statements in Part II, Item 8 of that report, with the exception of recently adopted accounting standards noted below. The December 31, 2021 financial position data included herein was derived from the consolidated financial statements included in the 2021 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 the 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 unaudited consolidated financial statements and accompanying footnotes to conform to current period presentation, including sales revenue, earnings before interest and taxes ("EBIT"), and assets related to the divested rubber additives product lines and related assets and technology and the held for sale adhesives resins business. See Note 17, "Segment and Regional Sales Information" for more information. Recently Adopted Accounting Standards Accounting Standards Update ("ASU") 2021-05 Leases - Lessors - Certain Leases with Variable Lease Payments (Topic 842) : On January 1, 2022 Eastman adopted this update which is a part of the Financial Accounting Standards Board's ("FASB") post-implementation review of this Topic. The update provides that lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both: the lease would have been classified as a sales-type lease or a direct financing lease and the lessor would have otherwise recognized a day-one loss. The adoption does not have significant impact on the Company's financial statements and related disclosures. ASU 2021-10 Government Assistance - Disclosures by Business Entities about Government Assistance (Topic 832) : On January 1, 2022 Eastman adopted prospectively this amendment which requires business entities that account for transactions with a government by applying a grant or contribution model by analogy (for example, a grant model within International Financial Reporting Standards) to provide annual disclosures about government assistance recorded during the period. The adoption does not have significant impact on the Company's financial statements and related disclosures. Accounting Standards Issued But Not Adopted as of March 31, 2022 ASU 2022-01 Derivatives and Hedging (Topic 815): Fair Value Hedging –Portfolio Layer Method: The FASB issued this update in March of 2022. This ASU clarifies the guidance in ASC 8152 on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amends the guidance in ASU 2017-123 (released on August 28, 2017) that, among other things, established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renames that method the "portfolio layer" method and addresses feedback from stakeholders regarding its application. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Management does not expect that changes required by the new standard will have a significant impact the Company's financial statements and related disclosures. ASU 2022-02 Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures : This ASU updates the requirements for accounting for credit losses under ASC 326, eliminates the accounting guidance on troubled debt restructurings for creditors in ASC 310-40, and enhances creditors' disclosure requirements related to loan refinancings and restructurings for borrowers experiencing financial difficulty. This ASU also amends the guidance on "vintage disclosures" to require disclosure of gross write-offs by year of origination. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Management does not expect that changes required by the new standard will have a significant impact the Company's financial statements and related disclosures. ASU 2021-08 Business Combinations - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805) : The FASB issued this update in October 2021, which requires that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 Revenue from Contracts with Customers , as if it had originated the contracts. The update also provides certain practical expedients for acquirers and is applicable to all contract assets and liabilities within the scope of Topic 606. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Early adoption is permitted, including adoption in an interim period. Adoption is on a prospective basis to business combinations occurring on or after the initial application and if adopted early, retrospectively to all business combinations for which the acquisition date occurs on or after the beginning of the fiscal year that includes the interim period of early application. Management does not expect that changes required by the new standard will have a significant impact the Company's financial statements and related disclosures. Working Capital Management and Off Balance Sheet Arrangements

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES March 31, December 31, (Dollars in millions) 2022 2021 Finished goods $ 1,048 $ 1,007 Work in process 311 273 Raw materials and supplies 677 589 Total inventories at FIFO or average cost 2,036 1,869 Less: LIFO reserve 365 365 Total inventories $ 1,671 $ 1,504

PAYABLES AND OTHER CURRENT LIAB

PAYABLES AND OTHER CURRENT LIABILITIES	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
PAYABLES AND OTHER CURRENT LIABILITIES	PAYABLES AND OTHER CURRENT LIABILITIES March 31, December 31, (Dollars in millions) 2022 2021 Trade creditors $ 1,381 $ 1,228 Accrued payroll and variable compensation 120 311 Accrued taxes 117 138 Post-employment obligations 63 70 Dividends payable to stockholders 101 101 Other 271 285 Total payables and other current liabilities $ 2,053 $ 2,133

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	INCOME TAXES First Quarter (Dollars in millions) 2022 2021 $ % $ % Provision for income taxes and tax rate $ 51 18 % $ 62 18 % First quarter 2022 and first quarter 2021 effective tax rates included adjustments to the provision for income taxes to reflect adjustments of prior years' income tax returns. At March 31, 2022 and December 31, 2021, Eastman had $203 million and $200 million, respectively, in unrecognized tax benefits. At March 31, 2022, it is expected that, as a result of the resolution of federal, state, and foreign examinations and appeals, and the expiration of various statutes of limitation, the total amounts of unrecognized tax benefits could decrease by up to $25 million within the next 12 months. Income tax incentives, in the form of tax holidays, have been granted to the Company in certain jurisdictions to attract investment and encourage industrial development. The expiration of these tax holidays varies by country. The tax holidays are conditional on the Company meeting certain requirements, including employment and investment thresholds; determination of compliance with these conditions may be subject to challenge by tax authorities in those jurisdictions. No individual tax holiday had a material impact to the Company's earnings in first quarter 2022 or 2021.

BORROWINGS

BORROWINGS	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS March 31, December 31, (Dollars in millions) 2022 2021 Borrowings consisted of: 3.6% notes due August 2022 $ 748 $ 747 1.50% notes due May 2023 (1) 833 850 7 1/4% debentures due January 2024 198 198 7 5/8% debentures due June 2024 43 43 3.8% notes due March 2025 695 698 1.875% notes due November 2026 (1) 552 565 7.60% debentures due February 2027 195 195 4.5% notes due December 2028 494 494 4.8% notes due September 2042 494 494 4.65% notes due October 2044 875 875 Commercial paper and short-term borrowings 236 — Total borrowings 5,363 5,159 Borrowings due within one year 984 747 Long-term borrowings $ 4,379 $ 4,412 (1) 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 to U.S. dollar 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. Credit Facility and Commercial Paper Borrowings The Company has access to a $1.50 billion revolving credit agreement (the "Credit Facility") expiring December 2026. 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 includes sustainability-linked pricing terms and provides available liquidity for general corporate purposes and supports commercial paper borrowings. Commercial paper borrowings are classified as short-term. At March 31, 2022 and December 31, 2021, the Company had no outstanding borrowings under the Credit Facility. At March 31, 2022, the Company's commercial paper borrowings were $236 million with a weighted average interest rate of 1.19 percent. At December 31, 2021, the Company had no outstanding commercial paper borrowings. The Credit Facility contains customary covenants, including requirements to maintain certain financial ratios, that determine the events of default, amounts available, and terms of borrowings. The Company was in compliance with all applicable covenants at both March 31, 2022 and December 31, 2021. Fair Value of Borrowings Eastman has classified its total borrowings at March 31, 2022 and December 31, 2021 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 2021 Annual Report on Form 10-K . The fair value for fixed-rate debt securities is based on quoted market prices for the same or similar debt instruments and is classified as Level 2. The fair value for the Company's other borrowings, primarily commercial paper, equals the carrying value and is classified as Level 2. At March 31, 2022 and December 31, 2021, the fair values of total borrowings were $5.559 billion and $5.737 billion, respectively. The Company had no borrowings classified as Level 3 as of March 31, 2022 and December 31, 2021. Subsequent Activity In April 2022, the Company entered into an unsecured $500 million five-year term loan agreement ("Term Loan"). Borrowings under the Term Loan are subject to interest at varying spreads above quoted market rates. The Term Loan contains the same customary covenants and events of default, including maintenance of certain financial ratios, as the Credit Facility, with payment of customary fees.

DERIVATIVE AND NON-DERIVATIVE F

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2022
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 10, "Derivative and Non-Derivative Financial Instruments", to the consolidated financial statements in Part II, Item 8 of the Company's 2021 Annual Report on Form 10-K . Cash Flow Hedges Cash flow hedges are derivative instruments designated as 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 change in the hedge instrument is reported as a component of Accumulated other comprehensive income (loss) ("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. Cash flows from cash flow hedges are classified as operating activities in the Unaudited Consolidated Statements of Cash Flows. 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 reported as "Long-term borrowings" on the Unaudited Consolidated Statements of Financial Position 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 fair value 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 recognized in earnings in the same period or periods during which the hedged transaction affects earnings. Cash flows from fair value hedges are classified as operating activities in the Unaudited Consolidated Statements of Cash Flows. 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 in the Unaudited Consolidated Statements of Financial Position. Cash flows from the CTA component are classified as operating activities in the Unaudited Consolidated Statements of Cash Flows. Recognition in earnings of amounts previously recognized in CTA is limited to circumstances such as complete or substantially complete liquidation of the net investment in the hedged foreign operation. In the event of a complete or substantially complete liquidation of the net investment, cash flows from net investment hedges are classified as investing activities in the Unaudited Consolidated Statements of Cash Flows. 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 cross-currency interest rate swaps designated as net investment hedges are included as part of "Other long-term liabilities", "Other noncurrent assets", "Payables and other current liabilities", or "Other current assets" within the Unaudited Consolidated Statements of Financial Position. Cash flows from excluded components are classified as operating activities in the Unaudited Consolidated Statements of Cash Flows. Summary of Financial Position and Financial Performance of Hedging Ins truments The following table presents the notional amounts outstanding at March 31, 2022 and December 31, 2021 associated with Eastman's hedging programs. Notional Outstanding March 31, 2022 December 31, 2021 Derivatives designated as cash flow hedges: Foreign Exchange Forward and Option Contracts (in millions) EUR/USD (in EUR) €512 €429 Commodity Forward and Collar Contracts Feedstock (in million barrels) 1 1 Energy (in million british thermal units) 5 13 Interest rate swaps for the future issuance of debt (in millions) $75 $75 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) €853 €853 Non-derivatives designated as net investment hedges: Foreign Currency Net Investment Hedges (in millions) EUR/USD (in EUR) €1,246 €1,246 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 transaction counterparties to validate the accuracy of its standard pricing models. The Company had no derivatives classified as Level 3 as of March 31, 2022 and December 31, 2021. 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 ongoing basis. The Company did not recognize a credit loss during first quarter 2022 or 2021. 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 within the Unaudited Consolidated Statements of Financial Position as of March 31, 2022 and December 31, 2021. The Financial Position and Fair Value Measurements of Hedging Instruments on a Gross Basis (Dollars in millions) Derivative Type Statements of Financial March 31, 2022 December 31, 2021 Derivatives designated as cash flow hedges: Commodity contracts Other current assets $ 16 $ 16 Commodity contracts Other noncurrent assets — 2 Foreign exchange contracts Other current assets 19 12 Foreign exchange contracts Other noncurrent assets 7 6 Forward starting interest rate swap contracts Other current assets 10 5 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Other current assets — 1 Fixed-for-floating interest rate swap Other noncurrent assets — 1 Derivatives designated as net investment hedges: Cross-currency interest rate swaps Other current assets 27 20 Cross-currency interest rate swaps Other noncurrent assets 43 35 Total Derivative Assets $ 122 $ 98 Derivatives designated as cash flow hedges: Commodity contracts Payables and other current liabilities $ — $ 1 Commodity contracts Other long-term liabilities — 1 Foreign exchange contracts Payables and other current liabilities — 1 Foreign exchange contracts Other long-term liabilities 1 — Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Long-term borrowings 2 — Derivatives designated as net investment hedges: Cross-currency interest rate swaps Other long-term liabilities 6 5 Total Derivative Liabilities $ 9 $ 8 Total Net Derivative Assets (Liabilities) $ 113 $ 90 In addition to the fair value associated with derivative instruments designated as cash flow hedges, fair value hedges, and net investment hedges, the Company had non-derivative instruments designated as foreign currency net investment hedges with a carrying value of $1.4 billion at both March 31, 2022 and December 31, 2021. The designated foreign currency-denominated borrowings are included as part of "Long-term borrowings" within the Unaudited Consolidated Statements of Financial Position. For additional fair value measurement information, see Note 1, "Significant Accounting Policies", and Note 10, "Derivative and Non-Derivative Financial Instruments", to the consolidated financial statements in Part II, Item 8 of the Company's 2021 Annual Report on Form 10-K . As of March 31, 2022 and December 31, 2021, the following amounts were included in 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, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Borrowings due within one year (1) $ 698 $ 697 $ (1) $ (2) Long-term borrowings $ 77 $ 76 $ (2) $ 1 (1) Cumulative amount of fair value hedging loss adjustment remaining for hedged liabilities for which hedge accounting has been discontinued. The following table presents the effect of the Company's hedging instruments on "Other comprehensive income (loss), net of tax" ("OCI") and financial performance for first quarter 2022 and 2021. Change in amount of after tax gain (loss) recognized in OCI on derivatives Pre-tax amount of gain (loss) reclassified from OCI into earnings (Dollars in millions) First Quarter First Quarter Hedging Relationships 2022 2021 2022 2021 Derivatives in cash flow hedging relationships: Commodity contracts $ 24 $ 1 $ 3 $ — Foreign exchange contracts 6 23 5 (5) Forward starting interest rate and treasury lock swap contracts 5 7 (2) (2) Non-derivatives in net investment hedging relationships (pre-tax): Net investment hedges 61 69 — — Derivatives in net investment hedging relationships (pre-tax): Cross-currency interest rate swaps 23 42 — — Cross-currency interest rate swaps excluded component (10) (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 2022 and 2021. Location and Amount of Gain or (Loss) Recognized in Earnings from Fair Value and Cash Flow Hedging Relationships First Quarter 2022 2021 (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 $ 2,714 $ 2,164 $ 46 $ 2,409 $ 1,811 $ 50 The effects of fair value and cash flow hedging: Gain or (loss) on fair value hedging relationships: 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: Interest contracts (forward starting interest rate and treasury lock swap contracts): Amount reclassified from AOCI into earnings (2) (2) Commodity Contracts: Amount reclassified from AOCI into earnings 3 — Foreign Exchange Contracts: Amount reclassified from AOCI into earnings 5 (5) 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. As a result of these derivatives, the Company did not recognize a gain or loss during first quarter 2022 and recognized a net gain of $5 million during first quarter 2021. 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 gains of $85 million and net losses of $7 million at March 31, 2022 and December 31, 2021, respectively. Gains in AOCI increased between March 31, 2022 and December 31, 2021 primarily as a result of a decrease in euro to U.S. dollar exchange rates. If recognized, approximately $30 million in pre-tax gains, as of March 31, 2022, would be reclassified into earnings during the next 12 months.

RETIREMENT PLANS

RETIREMENT PLANS	3 Months Ended
	Mar. 31, 2022
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. The Company provided a subsidy for pre-Medicare health care and dental benefits to eligible retirees hired prior to January 1, 2007 that ended 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 for the year are determined. For additional information regarding retirement plans, see Note 11, "Retirement Plans", to the consolidated financial statements in Part II, Item 8 of the Company's 2021 Annual Report on Form 10-K . Components of net periodic benefit (credit) cost were as follows: First Quarter Pension Plans Other Postretirement Benefit Plans 2022 2021 2022 2021 (Dollars in millions) U.S. Non-U.S. U.S. Non-U.S. Service cost $ 6 $ 4 $ 7 $ 4 $ — $ — Interest cost 11 4 9 3 4 3 Expected return on assets (32) (9) (32) (9) (1) (1) Amortization of: Prior service credit, net — — — — (8) (9) Net periodic benefit (credit) cost $ (15) $ (1) $ (16) $ (2) $ (5) $ (7)

LEASES AND OTHER COMMITMENTS

LEASES AND OTHER COMMITMENTS	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments Disclosure [Text Block]	LEASES AND OTHER COMMITMENTS Leases There are two types of leases: finance and operating. Both types of leases have associated right-to-use assets and lease liabilities that are valued at the present value of the lease payments and recognized on the Unaudited Consolidated Statements of Financial Position. The discount rate used in the measurement of a right-to-use asset and lease liability is the rate implicit in the lease whenever that rate is readily determinable. If the rate implicit in the lease is not readily determinable, the collateralized incremental borrowing rate is used. The Company elected the accounting policy not to apply the recognition and measurement requirements to short-term leases with a term of 12 months or less and do not include a bargain purchase option. The Company has operating leases, as a lessee, with customary terms that do not include: significant variable lease payments; significant reasonably certain extensions or options required to be included in the lease term; restrictions; or other covenants for real property, rolling stock, and machinery and equipment. Real property leases primarily consist of office space and rolling stock leases primarily for railcars and fleet vehicles. At March 31, 2022 and December 31, 2021, operating right-to-use assets of $205 million and $216 million, respectively, are included as a part of "Other noncurrent assets" in the Unaudited Consolidated Statements of Financial Position and includes $3 million and $3 million of assets previously classified as lease intangibles and $6 million and $5 million of prepaid lease assets, respectively. Operating lease liabilities are included as a part of "Payables and other current liabilities" and "Other long-term liabilities" in the Unaudited Consolidated Statements of Financial Position. As of March 31, 2022, reconciliation of lease payments and operating lease liabilities is provided below: (Dollars in millions) Operating lease liabilities Remainder of 2022 $ 42 2023 46 2024 32 2025 25 2026 19 2027 and beyond 52 Total lease payments 216 Less: amounts of lease payments representing interest 19 Present value of future lease payments 197 Less: current obligations under leases 48 Long-term lease obligations $ 149 The Company has operating leases, primarily leases for railcars, with terms that require the Company to guarantee a portion of the residual value of the leased assets upon termination of the lease that will expire beginning second quarter 2022. 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. Lease costs during the period and other information is provided below: First Quarter (Dollars in millions) 2022 2021 Lease costs: Operating lease costs $ 18 $ 18 Short-term lease costs 10 8 Sublease income (4) (1) Total $ 24 $ 25 Other operating lease information: Cash paid for amounts included in the measurement of lease liabilities $ 16 $ 17 Right-to-use assets obtained in exchange for new lease liabilities $ 8 $ 8 Weighted-average remaining lease term, in years 7 5 Weighted-average discount rate 2.9 % 3.5 %

ENVIRONMENTAL MATTERS AND ASSET

ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS	3 Months Ended
	Mar. 31, 2022
Accrual for Environmental Loss Contingencies Disclosure [Abstract]
Environmental Matters	ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS Certain Eastman manufacturing facilities 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 2021 Annual Report on Form 10-K . The resolution of uncertainties related to environmental matters may have a material adverse effect on the Company's consolidated results of operations in the period recognized. However, because of the availability of legal defenses, the Company's preliminary assessment of actions that may be required, and the extended period of time that the obligations are expected to be satisfied, management does not believe that the Company's liability for these environmental matters, individually or in the aggregate, will have a material adverse effect on the Company's future overall financial position, results of operations, or cash flows. The Company's net reserve for environmental contingencies was $278 million and $281 million at March 31, 2022 and December 31, 2021, respectively. Environmental Remediation and Environmental Asset Retirement Obligations The Company's net environmental reserve for environmental contingencies, including remediation costs and asset retirement obligations, is included as part of "Other noncurrent assets", "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, 2022 December 31, 2021 Environmental contingencies, current $ 20 $ 20 Environmental contingencies, long-term 258 261 Total $ 278 $ 281 Environmental Remediation Estimated future environmental expenditures for undiscounted remediation costs ranged from the best estimate or minimum of $250 million to the maximum of $468 million and from the best estimate or minimum of $253 million to the maximum of $473 million at March 31, 2022 and December 31, 2021, respectively. 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, 2022 and December 31, 2021. 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 recognized in "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 2022 and full year 2021 are summarized below: (Dollars in millions) Environmental Remediation Liabilities Balance at December 31, 2020 $ 257 Changes in estimates recognized in earnings and other 9 Cash reductions (13) Balance at December 31, 2021 253 Changes in estimates recognized in earnings and other 1 Cash reductions (4) Balance at March 31, 2022 $ 250 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. Environmental asset retirement obligations consist of primarily 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 $28 million at both March 31, 2022 and December 31, 2021. 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 in Pace, Florida and Oulu, Finland. These non-environmental asset retirement obligations were $51 million at both March 31, 2022 and December 31, 2021 and are included in "Other long-term liabilities" in the Unaudited Consolidated Statements of Financial Position.

LEGAL MATTERS

LEGAL MATTERS	3 Months Ended
	Mar. 31, 2022
Loss Contingency, Information about Litigation Matters [Abstract]
LEGAL MATTERS	LEGAL MATTERSFrom 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 position, results of operations, or cash flows.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY Reconciliations of the changes in stockholders' equity for first quarter 2022 and 2021 are provided below: (Dollars in millions, except per share amount) 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, 2021 $ 2 $ 2,187 $ 8,557 $ (182) $ (4,860) $ 5,704 $ 84 $ 5,788 Net Earnings — — 235 — — 235 1 236 Cash Dividends Declared (1) ($0.76 per share) — — (98) — — (98) — (98) Other Comprehensive Income (Loss) — — — 37 — 37 — 37 Share Based Compensation Expense (2) — 25 — — — 25 — 25 Stock Option Exercises — 8 — — — 8 — 8 Other (3) — (18) — — — (18) (1) (19) Share Repurchase (4) — 60 — — (60) — — — Balance at March 31, 2022 $ 2 $ 2,262 $ 8,694 $ (145) $ (4,920) $ 5,893 $ 84 $ 5,977 (Dollars in millions, except per share amount) 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, 2020 $ 2 $ 2,174 $ 8,080 $ (273) $ (3,960) $ 6,023 $ 85 $ 6,108 Net Earnings — — 274 — — 274 3 277 Cash Dividends Declared (1) ($0.69 per share) — — (94) — — (94) — (94) Other Comprehensive Income (Loss) — — — 25 — 25 — 25 Share Based Compensation Expense (2) — 22 — — — 22 — 22 Stock Option Exercises — 38 — — — 38 — 38 Other (3) — (15) — — — (15) (1) (16) Share Repurchase — — — — (40) (40) — (40) Distributions to noncontrolling interest — — — — — — (1) (1) Balance at March 31, 2021 $ 2 $ 2,219 $ 8,260 $ (248) $ (4,000) $ 6,233 $ 86 $ 6,319 (1) Cash dividends declared consists of cash dividends paid and dividends declared but unpaid. (2) Share-based compensation expense is based on the fair value of share-based awards. (3) Additional paid-in capital includes value of shares withheld for employees' taxes on vesting of share-based compensation awards. (4) Treasury shares delivered pursuant to final settlement of the December 2021 accelerated share repurchase program ("ASR") accounted for as a reduction of Additional paid-in capital prior to settlement. Accumulated Other Comprehensive Income (Loss), Net of Tax 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, 2020 $ (293) $ 87 $ (66) $ (1) $ (273) Period change 56 (28) 63 — 91 Balance at December 31, 2021 (237) 59 (3) (1) (182) Period change 7 (6) 36 — 37 Balance at March 31, 2022 $ (230) $ 53 $ 33 $ (1) $ (145) Amounts of other comprehensive income (loss) are presented net of applicable taxes. Eastman recognizes 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 recognized on the CTA of other subsidiaries outside the United States, because 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 2022 2021 (Dollars in millions) Before Tax Net of Tax Before Tax Net of Tax Other comprehensive income (loss) Change in cumulative translation adjustment $ 7 $ 7 $ 2 $ 2 Defined benefit pension and other postretirement benefit plans: Amortization of unrecognized prior service credits (8) (6) (9) (7) Derivatives and hedging: Unrealized gain (loss) during period 53 40 33 25 Reclassification adjustment for (gains) losses included in net income, net (5) (4) 7 5 Total other comprehensive income (loss) $ 47 $ 37 $ 33 $ 25

EARNINGS AND DIVIDENDS PER SHAR

EARNINGS AND DIVIDENDS PER SHARE	3 Months Ended
	Mar. 31, 2022
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") which are calculated using the treasury stock method: First Quarter (In millions, except per share amounts) 2022 2021 Numerator Earnings attributable to Eastman, net of tax $ 235 $ 274 Denominator Weighted average shares used for basic EPS 129.0 136.1 Dilutive effect of stock options and other awards 1.7 1.5 Weighted average shares used for diluted EPS 130.7 137.6 (Calculated using whole dollars and shares) EPS Basic $ 1.82 $ 2.01 Diluted $ 1.80 $ 1.99 Shares underlying stock options excluded from first quarter 2022 and 2021 calculations of diluted EPS were 507,692 and 327,782, respectively, because the grant date exercise price of these options was greater than the average market price of the Company's common stock and the effect of including them in the calculation of diluted EPS would have been antidilutive. First quarter 2022 reflects 548,035 shares delivered as part of the accelerated share repurchase program ("ASR") the Company entered into in fourth quarter 2021. There were 354,795 share repurchases in first quarter 2021. The Company declared cash dividends of $0.76 and $0.69 per share for first quarter 2022 and 2021, respectively. In December 2021, the Company's Board of Directors authorized the additional repurchase of up to $2.5 billion of the Company's outstanding common stock at such time, in such amounts, and on such terms, as determined by management to be in the best interest of the Company and its stockholders (the "2021 authorization"). No shares have been repurchased under the 2021 authorization.

ASSETS IMPAIRMENTS AND RESTRUCT

ASSETS IMPAIRMENTS AND RESTRUCTURING	3 Months Ended
	Mar. 31, 2022
Restructuring Costs and Asset Impairment Charges [Abstract]
ASSET IMPAIRMENTS AND RESTRUCTURING	ASSET IMPAIRMENTS AND RESTRUCTURING CHARGES, NET (Dollars in millions) First Quarter Gain on Sale of Previously Impaired Assets 2022 2021 Site optimizations AFP - Animal nutrition (1) $ — $ (1) — (1) Severance Charges Site optimizations AM - Advanced interlayers (2) — 1 — 1 Other Restructuring Costs CI & AFP - Singapore (3) 1 5 Site optimizations AM - Advanced interlayers (2) 1 — Other - Tire additives (4) — 2 2 7 Total $ 2 $ 7 (1) Fixed asset impairments, net in the AFP segment from the previously reported closure of an animal nutrition manufacturing facility in Asia Pacific as part of ongoing site optimization. (2) Site closure costs in first quarter 2022 and severance costs in first quarter 2021 in the AM segment due to the previously reported closure of an advanced interlayers manufacturing facility in North America as part of ongoing site optimization. In addition, accelerated depreciation of $4 million was recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in first quarter 2021 related to the closure of this facility. (3) Site closure costs in first quarter 2022 of $1 million in the Chemical Intermediates ("CI") segment and site closure costs in first quarter 2021 of $4 million and $1 million in the CI and AFP segments, respectively, resulting from closure of the Singapore manufacturing site. (4) Site closure costs in "Other" from the previously reported closure of a tire additives manufacturing facility in Asia Pacific as part of ongoing site optimization . Changes in Reserves The following table summarizes the changes in asset impairments and restructuring charges, 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 2022 and full year 2021: (Dollars in millions) Balance at January 1, 2022 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at March 31, 2022 Non-cash charges $ — $ — $ — $ — $ — Severance costs 12 — — (2) 10 Other restructuring costs 5 2 — (4) 3 Total $ 17 $ 2 $ — $ (6) $ 13 (Dollars in millions) Balance at January 1, 2021 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at December 31, 2021 Non-cash charges $ — $ 16 $ (16) $ — $ — Severance costs 65 2 (1) (54) 12 Other restructuring costs 14 29 (9) (29) 5 Total $ 79 $ 47 $ (26) $ (83) $ 17 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, 2022
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement [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 2022 and 2021, $25 million and $22 million, respectively, of compensation expense before tax were recognized in "Selling, general and administrative expenses" ("SG&A") in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for all share-based awards of which $8 million and $4 million, respectively, was for stock options. The compensation expense is recognized over the substantive vesting period, which may be a shorter time period than the stated vesting period for qualifying termination eligible employees as defined in the award notices. For first quarter 2022 and 2021, $7 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 2022 and 2021 net earnings of $19 million and $17 million, respectively, is net of deferred tax expense related to share-based award compensation for each period. Stock Option Grants In first quarter 2022 and 2021, the number of stock options granted under the 2021 Omnibus Stock Compensation Plan and 2017 Omnibus Stock Compensation Plan, respectively, was approximately 362 thousand and 450 thousand, 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 2022 and 2021 are provided in the table below: First Quarter Assumptions 2022 2021 Expected volatility rate 28.69% 28.99% Expected dividend yield 2.46% 3.58% Average risk-free interest rate 1.93% 0.95% Expected term years 6.4 6.0 The grant date exercise price and fair value of options granted during first quarter 2022 were $120.80 and $28.07, respectively, and first quarter 2021 were $109.26 and $19.81, respectively. For options unvested at March 31, 2022, $4 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 shares, restricted stock and restricted stock units, 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 2022 and 2021 for the 2022-2024 and 2021-2023 periods were approximately 288 thousand and 311 thousand, 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 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 2022 and 2021 were approximately 71 thousand and 109 thousand, 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 2022 and 2021, $17 million and $18 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, 2022 was approximately $110 million and will be recognized primarily over a period of three years. For additional information regarding share-based compensation plans and awards, see Note 18, "Share-Based Compensation Plans and Awards", to the consolidated financial statements in Part II, Item 8 of the Company's 2021 Annual Report on Form 10-K .

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2022
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 2022 2021 Other current assets $ 62 $ 10 Other noncurrent assets (58) 1 Payables and other current liabilities 17 5 Long-term liabilities and equity 36 61 Total $ 57 $ 77 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, equity investment dividends, prepaid insurance, miscellaneous deferrals, value-added taxes, and other miscellaneous accruals.

SEGMENT AND REGIONAL SALES INFO

SEGMENT AND REGIONAL SALES INFORMATION	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT AND REGIONAL SALES 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. The economic factors that impact the nature, amount, timing, and uncertainty of revenue and cash flows vary among the Company's business operating segments and the geographical regions in which they operate. For disaggregation of revenue by major product lines and regions for each business operating segment, see Note 20, "Segment and Regional Sales Information", to the consolidated financial statements in Part II, Item 8 of the Company's 2021 Annual Report on Form 10-K . For additional financial information for each segment, see Part I, Item 1, "Business - Business Segments", in the Company's 2021 Annual Report on Form 10-K . (Dollars in millions) First Quarter Sales by Segment 2022 2021 Additives & Functional Products $ 805 $ 609 Advanced Materials 737 716 Chemical Intermediates 799 605 Fibers 213 217 Total Sales by Operating Segment 2,554 2,147 Other (1) 160 262 Total Sales $ 2,714 $ 2,409 (1) "Other" includes sales revenue from the divested rubber additives and held for sale adhesives resins businesses previously part of the AFP segment. (Dollars in millions) First Quarter Earnings (Loss) Before Interest and Taxes by Segment 2022 2021 Additives & Functional Products $ 145 $ 107 Advanced Materials 61 146 Chemical Intermediates 134 69 Fibers 24 45 Total Earnings Before Interest and Taxes by Operating Segment 364 367 Other (1) Growth initiatives and businesses not allocated to operating segments (32) 1 Pension and other postretirement benefits income (expense), net not allocated to operating segments 23 27 Asset impairments and restructuring charges, net — (2) Transaction costs net of gain on divested business (6) — Steam line incident costs, net of insurance proceeds (25) — Other income (charges), net not allocated to operating segments 9 (4) Total Earnings Before Interest and Taxes $ 333 $ 389 (1) "Other" includes EBIT of $6 million and $28 million in first quarter 2022 and 2021, respectively, from the divested rubber additives and held for sale adhesives resins businesses previously part of the AFP segment. (Dollars in millions) March 31, December 31, Assets by Segment (1) 2022 2021 Additives & Functional Products $ 4,416 $ 4,188 Advanced Materials 4,704 4,661 Chemical Intermediates 2,785 2,703 Fibers 1,023 972 Total Assets by Operating Segment 12,928 12,524 Corporate & Other Assets 2,878 2,995 Total Assets $ 15,806 $ 15,519 (1) Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets. As disclosed in Note 1, "Significant Accounting Policies", December 31, 2021 Assets by Segment have been recast from Note 20, "Segment and Regional Sales Information", to the Company's 2021 Annual Report on Form 10-K. Prior to the recast, December 31, 2021 assets reported for the AFP segment were revised from $4,643 million to $5,195 million, and assets reported for Corporate & Other Assets were revised from $2,540 million to $1,988 million. Total assets were not impacted by the misclassification. (Dollars in millions) First Quarter Sales by Customer Location 2022 2021 United States and Canada $ 1,198 $ 1,004 Europe, Middle East, and Africa 745 656 Asia Pacific 612 608 Latin America 159 141 Total Sales $ 2,714 $ 2,409

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups	3 Months Ended
	Mar. 31, 2022
Divestitures and Business Held for Sale [Abstract]
Business Held for Sale	DIVESTITURE AND BUSINESS HELD FOR SALE Divestiture On November 1, 2021, the Company and certain of its subsidiaries completed the sale of its rubber additives (including Crystex™ insoluble sulfur and Santoflex™ antidegradants) and other product lines and related assets and technology of the global tire additives business ("rubber additives") of its Additives & Functional Products ("AFP") segment. The sale did not include the Eastman Impera™ and other performance resins product lines of the tire additives business. The Company is providing certain business transition and post-closing services to the buyer on agreed terms. The business was not reported as a discontinued operation because the sale did not have a major effect on the Company's operations and financial results. The total estimated consideration, after estimates of contingent consideration and post-closing adjustments and ongoing agreements through October 2027, was $687 million. The additional amount of consideration of up to $75 million is to be paid based on performance of divested rubber additives through December 2023. The divestiture resulted in a $552 million loss (including cumulative translation adjustment liquidation of $23 million and certain costs to sell of $ 10 million The major classes of divested assets and liabilities as of the date of the divestiture were as follows: (Dollars in millions) Assets divested Trade receivables, net of allowance for doubtful accounts $ 107 Inventories 94 Other assets 26 Properties, net of accumulated depreciation 300 Goodwill 398 Intangible assets, net of accumulated amortization 381 Assets divested 1,306 Liabilities divested Payables and other liabilities 48 Post-employment obligations 34 Other liabilities 18 Liabilities divested 100 Disposal group, net $ 1,206 Separately, the Company recognized $1 million and $15 million of transaction costs for the sale of the business in first quarter 2022 and twelve months 2021, respectively. Transaction costs are expensed as incurred and are included in the "Selling, general and administrative expenses" line item in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings. Business Held for Sale On October 28, 2021, the Company and certain of its subsidiaries entered into a definitive agreement to sell the adhesives resins business, which includes hydrocarbon resins (including Eastman Impera™ tire resins), pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical and fatty-acid based resins product lines ("adhesives resins"), of its AFP segment for $1 billion. The sale was completed on April 1, 2022. The business being sold is not being reported as a discontinued operation because the sale did not have a major effect on the Company's operations and financial results. As of the definitive agreement date and until the sale, the adhesives resins business disposal group will be classified as held for sale and reported at its carrying value given this value is lower than the estimated fair value less cost to sell. Long-lived assets and definite-lived intangible assets are not depreciated or amortized while classified as held for sale. The major classes of assets and liabilities of the business classified as held for sale as of March 31, 2022 were as follows: March 31, (Dollars in millions) 2022 Assets held for sale Trade receivables, net of allowance for doubtful accounts $ 132 Inventories 154 Other assets 28 Properties, net of accumulated depreciation 303 Goodwill 399 Intangible assets, net of accumulated amortization 14 Assets held for sale 1,030 Liabilities held for sale Payables and other liabilities 88 Deferred tax liability 7 Other liabilities 4 Liabilities held for sale 99 Disposal group, net $ 931 The Company recognized $8 million and $3 million of transaction costs for the business held for sale in first quarter 2022 and twelve months 2021, respectively. Transaction costs are expensed as incurred and are included in the "Selling, general and administrative expenses" line item in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
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 2021 Annual Report on Form 10-K , and should be read in conjunction with the consolidated financial statements in Part II, Item 8 of that report, with the exception of recently adopted accounting standards noted below. The December 31, 2021 financial position data included herein was derived from the consolidated financial statements included in the 2021 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 the 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 unaudited consolidated financial statements and accompanying footnotes to conform to current period presentation, including sales revenue, earnings before interest and taxes ("EBIT"), and assets related to the divested rubber additives product lines and related assets and technology and the held for sale adhesives resins business. See Note 17, "Segment and Regional Sales Information" for more information.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards Accounting Standards Update ("ASU") 2021-05 Leases - Lessors - Certain Leases with Variable Lease Payments (Topic 842) : On January 1, 2022 Eastman adopted this update which is a part of the Financial Accounting Standards Board's ("FASB") post-implementation review of this Topic. The update provides that lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both: the lease would have been classified as a sales-type lease or a direct financing lease and the lessor would have otherwise recognized a day-one loss. The adoption does not have significant impact on the Company's financial statements and related disclosures. ASU 2021-10 Government Assistance - Disclosures by Business Entities about Government Assistance (Topic 832) : On January 1, 2022 Eastman adopted prospectively this amendment which requires business entities that account for transactions with a government by applying a grant or contribution model by analogy (for example, a grant model within International Financial Reporting Standards) to provide annual disclosures about government assistance recorded during the period. The adoption does not have significant impact on the Company's financial statements and related disclosures. Accounting Standards Issued But Not Adopted as of March 31, 2022 ASU 2022-01 Derivatives and Hedging (Topic 815): Fair Value Hedging –Portfolio Layer Method: The FASB issued this update in March of 2022. This ASU clarifies the guidance in ASC 8152 on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amends the guidance in ASU 2017-123 (released on August 28, 2017) that, among other things, established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renames that method the "portfolio layer" method and addresses feedback from stakeholders regarding its application. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Management does not expect that changes required by the new standard will have a significant impact the Company's financial statements and related disclosures. ASU 2022-02 Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures : This ASU updates the requirements for accounting for credit losses under ASC 326, eliminates the accounting guidance on troubled debt restructurings for creditors in ASC 310-40, and enhances creditors' disclosure requirements related to loan refinancings and restructurings for borrowers experiencing financial difficulty. This ASU also amends the guidance on "vintage disclosures" to require disclosure of gross write-offs by year of origination. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Management does not expect that changes required by the new standard will have a significant impact the Company's financial statements and related disclosures. ASU 2021-08 Business Combinations - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805) : The FASB issued this update in October 2021, which requires that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 Revenue from Contracts with Customers , as if it had originated the contracts. The update also provides certain practical expedients for acquirers and is applicable to all contract assets and liabilities within the scope of Topic 606. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Early adoption is permitted, including adoption in an interim period. Adoption is on a prospective basis to business combinations occurring on or after the initial application and if adopted early, retrospectively to all business combinations for which the acquisition date occurs on or after the beginning of the fiscal year that includes the interim period of early application. Management does not expect that changes required by the new standard will have a significant impact the Company's financial statements and related disclosures.
Off-Balance-Sheet Credit Exposure, Policy	Working Capital Management and Off Balance Sheet ArrangementsThe Company has an off balance sheet, uncommitted accounts receivable factoring program under which entire invoices may be sold, without recourse, to third-party financial institutions. Under these agreements, the Company sells the invoices at face value, less a transaction fee, which substantially equals the carrying value and fair value with no gain or loss recognized, and no credit loss exposure is retained. Available capacity under these agreements, which the Company uses as a routine source of working capital funding, is dependent on the level of accounts receivable eligible to be sold and the financial institutions' willingness to purchase such receivables. In addition, certain agreements also require that the Company continue to service, administer, and collect the sold accounts receivable at market rates. The total amounts sold under the program in first quarter 2022 and 2021 were $502 million and $289 million, respectively.

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of inventories	March 31, December 31, (Dollars in millions) 2022 2021 Finished goods $ 1,048 $ 1,007 Work in process 311 273 Raw materials and supplies 677 589 Total inventories at FIFO or average cost 2,036 1,869 Less: LIFO reserve 365 365 Total inventories $ 1,671 $ 1,504

PAYABLES AND OTHER CURRENT LI_2

PAYABLES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of payables and other current liabilities	March 31, December 31, (Dollars in millions) 2022 2021 Trade creditors $ 1,381 $ 1,228 Accrued payroll and variable compensation 120 311 Accrued taxes 117 138 Post-employment obligations 63 70 Dividends payable to stockholders 101 101 Other 271 285 Total payables and other current liabilities $ 2,053 $ 2,133

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	First Quarter (Dollars in millions) 2022 2021 $ % $ % Provision for income taxes and tax rate $ 51 18 % $ 62 18 %

BORROWINGS (Tables)

BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Borrowings	March 31, December 31, (Dollars in millions) 2022 2021 Borrowings consisted of: 3.6% notes due August 2022 $ 748 $ 747 1.50% notes due May 2023 (1) 833 850 7 1/4% debentures due January 2024 198 198 7 5/8% debentures due June 2024 43 43 3.8% notes due March 2025 695 698 1.875% notes due November 2026 (1) 552 565 7.60% debentures due February 2027 195 195 4.5% notes due December 2028 494 494 4.8% notes due September 2042 494 494 4.65% notes due October 2044 875 875 Commercial paper and short-term borrowings 236 — Total borrowings 5,363 5,159 Borrowings due within one year 984 747 Long-term borrowings $ 4,379 $ 4,412

DERIVATIVE AND NON-DERIVATIVE_2

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Cumulative basis adjustments for fair value hedges on balance sheet [Table Text Block]	As of March 31, 2022 and December 31, 2021, the following amounts were included in 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, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Borrowings due within one year (1) $ 698 $ 697 $ (1) $ (2) Long-term borrowings $ 77 $ 76 $ (2) $ 1 (1) Cumulative amount of fair value hedging loss adjustment remaining for hedged liabilities for which hedge accounting has been discontinued.
Derivative Instruments, Gain (Loss) [Table Text Block]	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 2022 and 2021. Location and Amount of Gain or (Loss) Recognized in Earnings from Fair Value and Cash Flow Hedging Relationships First Quarter 2022 2021 (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 $ 2,714 $ 2,164 $ 46 $ 2,409 $ 1,811 $ 50 The effects of fair value and cash flow hedging: Gain or (loss) on fair value hedging relationships: 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: Interest contracts (forward starting interest rate and treasury lock swap contracts): Amount reclassified from AOCI into earnings (2) (2) Commodity Contracts: Amount reclassified from AOCI into earnings 3 — Foreign Exchange Contracts: Amount reclassified from AOCI into earnings 5 (5)
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following table presents the notional amounts outstanding at March 31, 2022 and December 31, 2021 associated with Eastman's hedging programs. Notional Outstanding March 31, 2022 December 31, 2021 Derivatives designated as cash flow hedges: Foreign Exchange Forward and Option Contracts (in millions) EUR/USD (in EUR) €512 €429 Commodity Forward and Collar Contracts Feedstock (in million barrels) 1 1 Energy (in million british thermal units) 5 13 Interest rate swaps for the future issuance of debt (in millions) $75 $75 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) €853 €853 Non-derivatives designated as net investment hedges: Foreign Currency Net Investment Hedges (in millions) EUR/USD (in EUR) €1,246 €1,246
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The following table presents the effect of the Company's hedging instruments on "Other comprehensive income (loss), net of tax" ("OCI") and financial performance for first quarter 2022 and 2021. Change in amount of after tax gain (loss) recognized in OCI on derivatives Pre-tax amount of gain (loss) reclassified from OCI into earnings (Dollars in millions) First Quarter First Quarter Hedging Relationships 2022 2021 2022 2021 Derivatives in cash flow hedging relationships: Commodity contracts $ 24 $ 1 $ 3 $ — Foreign exchange contracts 6 23 5 (5) Forward starting interest rate and treasury lock swap contracts 5 7 (2) (2) Non-derivatives in net investment hedging relationships (pre-tax): Net investment hedges 61 69 — — Derivatives in net investment hedging relationships (pre-tax): Cross-currency interest rate swaps 23 42 — — Cross-currency interest rate swaps excluded component (10) (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 within the Unaudited Consolidated Statements of Financial Position as of March 31, 2022 and December 31, 2021. The Financial Position and Fair Value Measurements of Hedging Instruments on a Gross Basis (Dollars in millions) Derivative Type Statements of Financial March 31, 2022 December 31, 2021 Derivatives designated as cash flow hedges: Commodity contracts Other current assets $ 16 $ 16 Commodity contracts Other noncurrent assets — 2 Foreign exchange contracts Other current assets 19 12 Foreign exchange contracts Other noncurrent assets 7 6 Forward starting interest rate swap contracts Other current assets 10 5 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Other current assets — 1 Fixed-for-floating interest rate swap Other noncurrent assets — 1 Derivatives designated as net investment hedges: Cross-currency interest rate swaps Other current assets 27 20 Cross-currency interest rate swaps Other noncurrent assets 43 35 Total Derivative Assets $ 122 $ 98 Derivatives designated as cash flow hedges: Commodity contracts Payables and other current liabilities $ — $ 1 Commodity contracts Other long-term liabilities — 1 Foreign exchange contracts Payables and other current liabilities — 1 Foreign exchange contracts Other long-term liabilities 1 — Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Long-term borrowings 2 — Derivatives designated as net investment hedges: Cross-currency interest rate swaps Other long-term liabilities 6 5 Total Derivative Liabilities $ 9 $ 8 Total Net Derivative Assets (Liabilities) $ 113 $ 90

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	3 Months Ended
	Mar. 31, 2022
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 2022 2021 2022 2021 (Dollars in millions) U.S. Non-U.S. U.S. Non-U.S. Service cost $ 6 $ 4 $ 7 $ 4 $ — $ — Interest cost 11 4 9 3 4 3 Expected return on assets (32) (9) (32) (9) (1) (1) Amortization of: Prior service credit, net — — — — (8) (9) Net periodic benefit (credit) cost $ (15) $ (1) $ (16) $ (2) $ (5) $ (7)

LEASES AND OTHER COMMITMENTS (T

LEASES AND OTHER COMMITMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	As of March 31, 2022, reconciliation of lease payments and operating lease liabilities is provided below: (Dollars in millions) Operating lease liabilities Remainder of 2022 $ 42 2023 46 2024 32 2025 25 2026 19 2027 and beyond 52 Total lease payments 216 Less: amounts of lease payments representing interest 19 Present value of future lease payments 197 Less: current obligations under leases 48 Long-term lease obligations $ 149
Lease, Cost [Table Text Block]	Lease costs during the period and other information is provided below: First Quarter (Dollars in millions) 2022 2021 Lease costs: Operating lease costs $ 18 $ 18 Short-term lease costs 10 8 Sublease income (4) (1) Total $ 24 $ 25 Other operating lease information: Cash paid for amounts included in the measurement of lease liabilities $ 16 $ 17 Right-to-use assets obtained in exchange for new lease liabilities $ 8 $ 8 Weighted-average remaining lease term, in years 7 5 Weighted-average discount rate 2.9 % 3.5 %

ENVIRONMENTAL MATTERS AND ASS_2

ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS (Tables)	3 Months Ended
	Mar. 31, 2022
Accrual for Environmental Loss Contingencies Disclosure [Abstract]
Schedule of environmental liabilities, current and non-current	(Dollars in millions) March 31, 2022 December 31, 2021 Environmental contingencies, current $ 20 $ 20 Environmental contingencies, long-term 258 261 Total $ 278 $ 281
Schedule of changes to environmental remediation liabilities	Changes in the reserves for environmental remediation liabilities during first three months 2022 and full year 2021 are summarized below: (Dollars in millions) Environmental Remediation Liabilities Balance at December 31, 2020 $ 257 Changes in estimates recognized in earnings and other 9 Cash reductions (13) Balance at December 31, 2021 253 Changes in estimates recognized in earnings and other 1 Cash reductions (4) Balance at March 31, 2022 $ 250

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Reconciliation of the changes in stockholders' equity	Reconciliations of the changes in stockholders' equity for first quarter 2022 and 2021 are provided below: (Dollars in millions, except per share amount) 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, 2021 $ 2 $ 2,187 $ 8,557 $ (182) $ (4,860) $ 5,704 $ 84 $ 5,788 Net Earnings — — 235 — — 235 1 236 Cash Dividends Declared (1) ($0.76 per share) — — (98) — — (98) — (98) Other Comprehensive Income (Loss) — — — 37 — 37 — 37 Share Based Compensation Expense (2) — 25 — — — 25 — 25 Stock Option Exercises — 8 — — — 8 — 8 Other (3) — (18) — — — (18) (1) (19) Share Repurchase (4) — 60 — — (60) — — — Balance at March 31, 2022 $ 2 $ 2,262 $ 8,694 $ (145) $ (4,920) $ 5,893 $ 84 $ 5,977 (Dollars in millions, except per share amount) 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, 2020 $ 2 $ 2,174 $ 8,080 $ (273) $ (3,960) $ 6,023 $ 85 $ 6,108 Net Earnings — — 274 — — 274 3 277 Cash Dividends Declared (1) ($0.69 per share) — — (94) — — (94) — (94) Other Comprehensive Income (Loss) — — — 25 — 25 — 25 Share Based Compensation Expense (2) — 22 — — — 22 — 22 Stock Option Exercises — 38 — — — 38 — 38 Other (3) — (15) — — — (15) (1) (16) Share Repurchase — — — — (40) (40) — (40) Distributions to noncontrolling interest — — — — — — (1) (1) Balance at March 31, 2021 $ 2 $ 2,219 $ 8,260 $ (248) $ (4,000) $ 6,233 $ 86 $ 6,319 (1) Cash dividends declared consists of cash dividends paid and dividends declared but unpaid. (2) Share-based compensation expense is based on the fair value of share-based awards. (3) Additional paid-in capital includes value of shares withheld for employees' taxes on vesting of share-based compensation awards. (4) Treasury shares delivered pursuant to final settlement of the December 2021 accelerated share repurchase program ("ASR") accounted for as a reduction of Additional paid-in capital prior to settlement.
Accumulated Other Comprehensive Income (Loss)	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, 2020 $ (293) $ 87 $ (66) $ (1) $ (273) Period change 56 (28) 63 — 91 Balance at December 31, 2021 (237) 59 (3) (1) (182) Period change 7 (6) 36 — 37 Balance at March 31, 2022 $ (230) $ 53 $ 33 $ (1) $ (145)
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 2022 2021 (Dollars in millions) Before Tax Net of Tax Before Tax Net of Tax Other comprehensive income (loss) Change in cumulative translation adjustment $ 7 $ 7 $ 2 $ 2 Defined benefit pension and other postretirement benefit plans: Amortization of unrecognized prior service credits (8) (6) (9) (7) Derivatives and hedging: Unrealized gain (loss) during period 53 40 33 25 Reclassification adjustment for (gains) losses included in net income, net (5) (4) 7 5 Total other comprehensive income (loss) $ 47 $ 37 $ 33 $ 25

EARNINGS AND DIVIDENDS PER SH_2

EARNINGS AND DIVIDENDS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2022
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") which are calculated using the treasury stock method: First Quarter (In millions, except per share amounts) 2022 2021 Numerator Earnings attributable to Eastman, net of tax $ 235 $ 274 Denominator Weighted average shares used for basic EPS 129.0 136.1 Dilutive effect of stock options and other awards 1.7 1.5 Weighted average shares used for diluted EPS 130.7 137.6 (Calculated using whole dollars and shares) EPS Basic $ 1.82 $ 2.01 Diluted $ 1.80 $ 1.99

ASSETS IMPAIRMENTS AND RESTRU_2

ASSETS IMPAIRMENTS AND RESTRUCTURING (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring Costs and Asset Impairment Charges [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table summarizes the changes in asset impairments and restructuring charges, 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 2022 and full year 2021: (Dollars in millions) Balance at January 1, 2022 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at March 31, 2022 Non-cash charges $ — $ — $ — $ — $ — Severance costs 12 — — (2) 10 Other restructuring costs 5 2 — (4) 3 Total $ 17 $ 2 $ — $ (6) $ 13 (Dollars in millions) Balance at January 1, 2021 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at December 31, 2021 Non-cash charges $ — $ 16 $ (16) $ — $ — Severance costs 65 2 (1) (54) 12 Other restructuring costs 14 29 (9) (29) 5 Total $ 79 $ 47 $ (26) $ (83) $ 17
Restructuring and Related Costs [Table Text Block]	(Dollars in millions) First Quarter Gain on Sale of Previously Impaired Assets 2022 2021 Site optimizations AFP - Animal nutrition (1) $ — $ (1) — (1) Severance Charges Site optimizations AM - Advanced interlayers (2) — 1 — 1 Other Restructuring Costs CI & AFP - Singapore (3) 1 5 Site optimizations AM - Advanced interlayers (2) 1 — Other - Tire additives (4) — 2 2 7 Total $ 2 $ 7 (1) Fixed asset impairments, net in the AFP segment from the previously reported closure of an animal nutrition manufacturing facility in Asia Pacific as part of ongoing site optimization. (2) Site closure costs in first quarter 2022 and severance costs in first quarter 2021 in the AM segment due to the previously reported closure of an advanced interlayers manufacturing facility in North America as part of ongoing site optimization. In addition, accelerated depreciation of $4 million was recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in first quarter 2021 related to the closure of this facility. (3) Site closure costs in first quarter 2022 of $1 million in the Chemical Intermediates ("CI") segment and site closure costs in first quarter 2021 of $4 million and $1 million in the CI and AFP segments, respectively, resulting from closure of the Singapore manufacturing site. (4) Site closure costs in "Other" from the previously reported closure of a tire additives manufacturing facility in Asia Pacific as part of ongoing site optimization .

SHARE-BASED COMPENSATION AWAR_2

SHARE-BASED COMPENSATION AWARDS SHARE-BASED COMPENSATION AWARDS (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The assumptions used in the determination of fair value for stock options granted in first quarter 2022 and 2021 are provided in the table below: First Quarter Assumptions 2022 2021 Expected volatility rate 28.69% 28.99% Expected dividend yield 2.46% 3.58% Average risk-free interest rate 1.93% 0.95% Expected term years 6.4 6.0

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2022
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 2022 2021 Other current assets $ 62 $ 10 Other noncurrent assets (58) 1 Payables and other current liabilities 17 5 Long-term liabilities and equity 36 61 Total $ 57 $ 77

SEGMENT AND REGIONAL SALES IN_2

SEGMENT AND REGIONAL SALES INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information Disclosure	(Dollars in millions) First Quarter Sales by Segment 2022 2021 Additives & Functional Products $ 805 $ 609 Advanced Materials 737 716 Chemical Intermediates 799 605 Fibers 213 217 Total Sales by Operating Segment 2,554 2,147 Other (1) 160 262 Total Sales $ 2,714 $ 2,409 (1) "Other" includes sales revenue from the divested rubber additives and held for sale adhesives resins businesses previously part of the AFP segment. (Dollars in millions) First Quarter Earnings (Loss) Before Interest and Taxes by Segment 2022 2021 Additives & Functional Products $ 145 $ 107 Advanced Materials 61 146 Chemical Intermediates 134 69 Fibers 24 45 Total Earnings Before Interest and Taxes by Operating Segment 364 367 Other (1) Growth initiatives and businesses not allocated to operating segments (32) 1 Pension and other postretirement benefits income (expense), net not allocated to operating segments 23 27 Asset impairments and restructuring charges, net — (2) Transaction costs net of gain on divested business (6) — Steam line incident costs, net of insurance proceeds (25) — Other income (charges), net not allocated to operating segments 9 (4) Total Earnings Before Interest and Taxes $ 333 $ 389 (1) "Other" includes EBIT of $6 million and $28 million in first quarter 2022 and 2021, respectively, from the divested rubber additives and held for sale adhesives resins businesses previously part of the AFP segment. (Dollars in millions) March 31, December 31, Assets by Segment (1) 2022 2021 Additives & Functional Products $ 4,416 $ 4,188 Advanced Materials 4,704 4,661 Chemical Intermediates 2,785 2,703 Fibers 1,023 972 Total Assets by Operating Segment 12,928 12,524 Corporate & Other Assets 2,878 2,995 Total Assets $ 15,806 $ 15,519 (1) Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets. As disclosed in Note 1, "Significant Accounting Policies", December 31, 2021 Assets by Segment have been recast from Note 20, "Segment and Regional Sales Information", to the Company's 2021 Annual Report on Form 10-K. Prior to the recast, December 31, 2021 assets reported for the AFP segment were revised from $4,643 million to $5,195 million, and assets reported for Corporate & Other Assets were revised from $2,540 million to $1,988 million. Total assets were not impacted by the misclassification. (Dollars in millions) First Quarter Sales by Customer Location 2022 2021 United States and Canada $ 1,198 $ 1,004 Europe, Middle East, and Africa 745 656 Asia Pacific 612 608 Latin America 159 141 Total Sales $ 2,714 $ 2,409

Discontinued Operations and D_2

Discontinued Operations and Disposal Groups (Tables)	3 Months Ended
	Mar. 31, 2022
Tire Additives Disposal Group | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations	The major classes of divested assets and liabilities as of the date of the divestiture were as follows: (Dollars in millions) Assets divested Trade receivables, net of allowance for doubtful accounts $ 107 Inventories 94 Other assets 26 Properties, net of accumulated depreciation 300 Goodwill 398 Intangible assets, net of accumulated amortization 381 Assets divested 1,306 Liabilities divested Payables and other liabilities 48 Post-employment obligations 34 Other liabilities 18 Liabilities divested 100 Disposal group, net $ 1,206
Adhesives Resins Disposal Group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations	The major classes of assets and liabilities of the business classified as held for sale as of March 31, 2022 were as follows: March 31, (Dollars in millions) 2022 Assets held for sale Trade receivables, net of allowance for doubtful accounts $ 132 Inventories 154 Other assets 28 Properties, net of accumulated depreciation 303 Goodwill 399 Intangible assets, net of accumulated amortization 14 Assets held for sale 1,030 Liabilities held for sale Payables and other liabilities 88 Deferred tax liability 7 Other liabilities 4 Liabilities held for sale 99 Disposal group, net $ 931

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES Recently Issued Accounting Standards (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Receivable Sold Under Factoring Arrangement	$ 502	$ 289

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
At FIFO or average cost (approximates current cost) [Abstract]
Finished goods	$ 1,048	$ 1,007
Work in process	311	273
Raw materials and supplies	677	589
Total inventories at FIFO or average cost	2,036	1,869
Less: LIFO reserve	365	365
Total inventories	$ 1,671	$ 1,504
Inventories valued on the LIFO method	50.00%	50.00%

PAYABLES AND OTHER CURRENT LI_3

PAYABLES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Trade creditors	$ 1,381	$ 1,228
Accrued payroll and variable compensation	120	311
Accrued taxes	117	138
Post-employment obligations	63	70
Dividends payable to stockholders	101	101
Other	271	285
Total payables and other current liabilities	$ 2,053	$ 2,133

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Examination [Line Items]
Provision for income taxes	$ 51	$ 62
Effective Income Tax Rate Reconciliation, Percent	18.00%	18.00%
Unrecognized Tax Benefits	$ 203		$ 200
Minimum [Member]
Income Tax Examination [Line Items]
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 25

BORROWINGS Part 1 (Details) Sch

BORROWINGS Part 1 (Details) Schedule of Long-term Debt Instruments - USD ($) $ in Millions		3 Months Ended	12 Months Ended
		Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total Borrowings		$ 5,363	$ 5,159
Borrowings due within one year		984	747
Long-term borrowings		4,379	4,412
Commercial Paper		236	0
3.6% notes due August 2022 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 748	747
Debt Instrument, Maturity Date		Aug. 31, 2022
Debt Instrument, Interest Rate, Stated Percentage		3.60%
1.5% notes due May 2023 [Member]
Debt Instrument [Line Items]
Long-term Debt	[1]	$ 833	850
Debt Instrument, Maturity Date		May 31, 2023
Debt Instrument, Interest Rate, Stated Percentage		1.50%
7 1/4% debentures due January 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 198	198
Debt Instrument, Maturity Date		Jan. 31, 2024
Debt Instrument, Interest Rate, Stated Percentage		7.25%
7 5/8% debentures due June 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 43	43
Debt Instrument, Maturity Date		Jun. 30, 2024
Debt Instrument, Interest Rate, Stated Percentage		7.625%
3.8% notes due March 2025 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 695	698
Debt Instrument, Maturity Date		Mar. 31, 2025
Debt Instrument, Interest Rate, Stated Percentage		3.80%
1.875% notes due November 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt	[1]	$ 552	565
Debt Instrument, Maturity Date		Nov. 30, 2026
Debt Instrument, Interest Rate, Stated Percentage		1.88%
7.60% debentures due February 2027 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 195	195
Debt Instrument, Maturity Date		Feb. 28, 2027
Debt Instrument, Interest Rate, Stated Percentage		7.60%
4.5% Notes Due Dec 2028 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 494	494
Debt Instrument, Maturity Date		Dec. 31, 2028
Debt Instrument, Interest Rate, Stated Percentage		4.50%
4.8% notes due September 2042 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 494	494
Debt Instrument, Maturity Date		Sep. 30, 2042
Debt Instrument, Interest Rate, Stated Percentage		4.80%
4.65% notes due October 2044 [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 875	875
Debt Instrument, Maturity Date		Oct. 31, 2044
Debt Instrument, Interest Rate, Stated Percentage		4.65%
Commercial paper and short-term borrowings [Member]
Debt Instrument [Line Items]
Borrowings due within one year		$ 236	0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Month-end Outstanding Amount		$ 0	$ 0
[1]	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 to U.S. dollar 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.

BORROWINGS Part 2 (Details) Cre

BORROWINGS Part 2 (Details) Credit Facility and Commercial Paper Borrowings - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Apr. 01, 2022
Credit Facilities [Abstract]
Borrowings due within one year	$ 984	$ 747
Commercial Paper	$ 236	0
Commercial Paper, Average Rate Paid	1.19%
Subsequent Event [Member]
Credit Facilities [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity			$ 500
Revolving Credit Facility [Member]
Credit Facilities [Abstract]
Line of Credit Facility, Expiration Date	Dec. 31, 2026
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,500
Line of Credit Facility, Maximum Month-end Outstanding Amount	$ 0	$ 0

BORROWINGS Part 3 (Details) Fai

BORROWINGS Part 3 (Details) Fair Value - Fair Value, Recurring [Member] - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 5,559	$ 5,737
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 0	$ 0

DERIVATIVE AND NON-DERIVATIVE_3

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, 2022EUR (€)bblMMBTU	Mar. 31, 2022USD ($)	Dec. 31, 2021EUR (€)MMBTUbbl	Dec. 31, 2021USD ($)	Mar. 31, 2022USD ($)bblMMBTU	Dec. 31, 2021USD ($)MMBTUbbl
Foreign Exchange Contract [Member] | Euro Member Countries, Euro | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount | €	€ 512		€ 429
Commodity Contract [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | bbl	1		1		1	1
Energy Related Derivative [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | MMBTU	5		13		5	13
Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount | $					$ 75	$ 75
Interest Rate Contract [Member] | Fair Value Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount | $					$ 75	$ 75
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	€ 1,246	$ 1,400	€ 1,246	$ 1,400
Notes Due August 2022, Notes Due January 2024, Notes Due March 2025, Notes Due February 2027, and Notes Due December 2028 [Member] | Cross Currency Interest Rate Contract [Member] | Euro Member Countries, Euro | Net Investment Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount | €	€ 853		€ 853

DERIVATIVE AND NON-DERIVATIVE_4

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS Part 2 (Details) € in Millions, $ in Millions		3 Months Ended		12 Months Ended
		Mar. 31, 2022EUR (€)	Mar. 31, 2022USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2021USD ($)
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Derivative Assets [Abstract]
Derivative Asset, Fair Value, Gross Asset			$ 122		$ 98
Derivative Liabilities [Abstract]
Derivative Liability, Fair Value, Gross Liability			9		8
Derivative, Fair Value, Net			113		90
Fair Value, Inputs, Level 2 [Member] | Fair Value, 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			16		16
Fair Value, Inputs, Level 2 [Member] | Fair Value, 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			0		2
Fair Value, Inputs, Level 2 [Member] | Fair Value, 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			0		1
Fair Value, Inputs, Level 2 [Member] | Fair Value, 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			0		1
Fair Value, Inputs, Level 2 [Member] | Fair Value, 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			19		12
Fair Value, Inputs, Level 2 [Member] | Fair Value, 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			7		6
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Liabilities [Member]
Derivative Liabilities [Abstract]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value			0		1
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivative Liabilities [Abstract]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value			1		0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Derivative Assets [Abstract]
Fair Value Hedge Assets			0		1
Cash Flow Hedge Derivative Instrument Assets at Fair Value			10		5
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member]
Derivative Assets [Abstract]
Fair Value Hedge Assets			0		1
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivative Liabilities [Abstract]
Fair Value Hedge Liabilities			2		0
Net Investment Hedging [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Derivative Assets [Abstract]
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value			27		20
Net Investment Hedging [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member]
Derivative Assets [Abstract]
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value			43		35
Net Investment Hedging [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivative Assets [Abstract]
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value			6		5
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		€ 1,246	1,400	€ 1,246	1,400
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Long-term Debt
Derivatives, Fair Value [Line Items]
Hedged Liability, Fair Value Hedge			77		76
Derivative Liabilities [Abstract]
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)			(2)		1
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Short-term Debt
Derivatives, Fair Value [Line Items]
Hedged Liability, Fair Value Hedge	[1]		698		697
Derivative Liabilities [Abstract]
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	[1]		$ (1)		$ (2)
[1]	Cumulative amount of fair value hedging loss adjustment remaining for hedged liabilities for which hedge accounting has been discontinued.

DERIVATIVE AND NON-DERIVATIVE_5

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS Part 3 (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Sales	$ 2,714	$ 2,409
Cost of sales	2,164	1,811
Net interest expense	46	50
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Change in cumulative translation adjustment, before tax	7	2
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	36		$ 63
Summary of Derivative Instruments [Abstract]
Accumulated Other Comprehensive Income Loss Unrealized Gain Loss From Hedges Before Tax	85		$ (7)
Price Risk Cash Flow Hedge Unrealized Gain to be Reclassified During Next 12 Months	30
Commodity Contract [Member] | Cash Flow Hedging [Member]
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	24	1
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	3	0
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member]
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	6	23
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	5	(5)
Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	5	7
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	(2)	(2)
Interest Rate Contract [Member] | Fair Value Hedging [Member]
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	1	0
Interest Rate Contract [Member] | Fair Value Hedging [Member] | Net Interest Expense
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Gain (Loss) on Fair Value Hedges Recognized in Earnings	(1)	0
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	61	69
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		5
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	23	42
AOCI, Derivative Qualifying as Hedge, Excluded Component	$ (10)	$ (11)

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other Postretirement Benefits Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	$ 0	$ 0
Interest cost	4	3
Expected return on assets	(1)	(1)
Prior service credit, net	(8)	(9)
Net periodic benefit (credit) cost	(5)	(7)
UNITED STATES | Pension Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	6	7
Interest cost	11	9
Expected return on assets	(32)	(32)
Prior service credit, net	0	0
Net periodic benefit (credit) cost	(15)	(16)
Foreign Plan [Member] | Pension Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	4	4
Interest cost	4	3
Expected return on assets	(9)	(9)
Prior service credit, net	0	0
Net periodic benefit (credit) cost	$ (1)	$ (2)

LEASES (Details)

LEASES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Lessee Disclosure [Abstract]
Operating Lease, Right-of-Use Asset	$ 205		$ 216
Operating Lease, Right-of-Use Asset, Reclassified	3		3
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	42
Lessee, Operating Lease, Liability, Payments, Due Year Two	46
Lessee, Operating Lease, Liability, Payments, Due Year Three	32
Lessee, Operating Lease, Liability, Payments, Due Year Four	25
Lessee, Operating Lease, Liability, Payments, Due Year Five	19
Lessee, Operating Lease, Liability, Payments, Due after Year Five	52
Lessee, Operating Lease, Liability, Payments, Due	216
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	19
Operating Lease, Liability	197
Operating Lease, Liability, Current	48
Operating Lease, Liability, Noncurrent	149
Lease, Cost [Abstract]
Operating Lease, Cost	18	$ 18
Short-term Lease, Cost	10	8
Sublease Income	(4)	(1)
Lease, Cost	24	25
Operating Lease, Payments	16	17
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 8	$ 8
Operating Lease, Weighted Average Remaining Lease Term	7 years	5 years
Operating Lease, Weighted Average Discount Rate, Percent	2.90%	3.50%
Operating Lease, Right-of-Use, Prepaid Amount	$ 6		$ 5

ENVIRONMENTAL MATTERS AND ASS_3

ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning of period	$ 281
End of period	278	$ 281
Accrual for Environmental Loss Contingencies, Balance Sheet Classification [Abstract]
Accrued Environmental Loss Contingencies, Current	20	20
Accrued Environmental Loss Contingencies, Noncurrent	258	261
Environmental Remediation [Member]
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning of period	253	257
Changes in estimates recognized in earnings and other	1	9
Cash reductions	(4)	(13)
End of period	$ 250	253
Expected Payment Period of Environmental Contingencies	approximately 30 years
Environmental Remediation [Member] | Minimum [Member]
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 250	253
Environmental Remediation [Member] | Maximum [Member]
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	468	473
Environmental ARO [Member]
Site Contingency [Line Items]
Best Estimate Accrued to-date For Asset Retirement Obligation	28	28
Non Environmental ARO [Member]
Site Contingency [Line Items]
Best Estimate Accrued to-date For Asset Retirement Obligation	$ 51	$ 51

STOCKHOLDERS' EQUITY Part 1 (De

STOCKHOLDERS' EQUITY Part 1 (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended				12 Months Ended
		Mar. 31, 2022		Mar. 31, 2021		Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Dividends, Per Share		$ 0.76		$ 0.69
Stockholders' Equity Attributable to Parent		$ 5,893				$ 5,704
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		5,977		$ 6,319		5,788	$ 6,108
Net earnings attributable to Eastman		235		274
Net earnings attributable to noncontrolling interest		1		3
Net earnings including noncontrolling interest		236		277
Cash dividends declared	[1]	(98)		(94)
Other Comprehensive Income (Loss)		37		25		91
Share-based Compensation Expense	[2]	25		22
Stock Option Exercises		8		38
Other		(19)		(16)
Share Repurchases		0	[3]	(40)
Distributions to Noncontrolling Interest				(1)
Retained earnings		8,694		8,260		8,557	8,080
Common Stock [Member]
Stockholders' Equity Attributable to Parent		2		2		2	2
Net earnings attributable to Eastman		0		0
Cash dividends declared	[1]	0		0
Other Comprehensive Income (Loss)		0		0
Share-based Compensation Expense	[2]	0		0
Stock Option Exercises		0		0
Other		0		0
Share Repurchases		0	[3]	0
Distributions to Noncontrolling Interest				0
Additional Paid-in Capital [Member]
Stockholders' Equity Attributable to Parent		2,262		2,219		2,187	2,174
Net earnings attributable to Eastman		0		0
Cash dividends declared	[1]	0		0
Other Comprehensive Income (Loss)		0		0
Share-based Compensation Expense	[2]	25		22
Stock Option Exercises		8		38
Other		(18)		(15)	[4]
Share Repurchases		60	[3]	0
Distributions to Noncontrolling Interest				0
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent		8,694		8,260		8,557	8,080
Net earnings attributable to Eastman		235		274
Cash dividends declared	[1]	(98)		(94)
Other Comprehensive Income (Loss)		0		0
Share-based Compensation Expense	[2]	0		0
Stock Option Exercises		0		0
Other		0		0
Share Repurchases		0	[3]	0
Distributions to Noncontrolling Interest				0
Accumulated Other Comprehensive Income (Loss) [Member]
Stockholders' Equity Attributable to Parent		(145)		(248)		(182)	(273)
Net earnings attributable to Eastman		0		0
Cash dividends declared	[1]	0		0
Other Comprehensive Income (Loss)		37		25
Share-based Compensation Expense	[2]	0		0
Stock Option Exercises		0		0
Other		0		0
Share Repurchases		0	[3]	0
Distributions to Noncontrolling Interest				0
Treasury Stock [Member]
Stockholders' Equity Attributable to Parent		(4,920)		(4,000)		(4,860)	(3,960)
Net earnings attributable to Eastman		0		0
Cash dividends declared	[1]	0		0
Other Comprehensive Income (Loss)		0		0
Share-based Compensation Expense	[2]	0		0
Stock Option Exercises		0		0
Other		0		0
Share Repurchases		(60)	[3]	(40)
Distributions to Noncontrolling Interest				0
Parent [Member]
Stockholders' Equity Attributable to Parent		5,893		6,233		5,704	6,023
Net earnings attributable to Eastman		235		274
Cash dividends declared	[1]	(98)		(94)
Other Comprehensive Income (Loss)		37		25
Share-based Compensation Expense	[2]	25		22
Stock Option Exercises		8		38
Other		(18)		(15)
Share Repurchases		0	[3]	(40)
Distributions to Noncontrolling Interest				0
Noncontrolling Interest [Member]
Stockholders' Equity Attributable to Parent		84		86		$ 84	$ 85
Net earnings attributable to noncontrolling interest		1		3
Cash dividends declared	[1]	0		0
Other Comprehensive Income (Loss)		0		0
Share-based Compensation Expense	[2]	0		0
Stock Option Exercises		0		0
Other		(1)		(1)
Share Repurchases		$ 0	[3]	0
Distributions to Noncontrolling Interest				$ (1)
[1]	Cash dividends declared consists of cash dividends paid and dividends declared but unpaid.
[2]	Share-based compensation expense is based on the fair value of share-based awards.
[3]	Treasury shares delivered pursuant to final settlement of the December 2021 accelerated share repurchase program ("ASR") accounted for as a reduction of Additional paid-in capital prior to settlement.
[4]	Additional paid-in capital includes value of shares withheld for employees' taxes on vesting of share-based compensation awards.

STOCKHOLDERS' EQUITY Part 2 AOC

STOCKHOLDERS' EQUITY Part 2 AOCI (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative Translation Adjustment	$ (230)		$ (237)	$ (293)
Change in cumulative translation adjustment	7	$ 2	56
Benefit Plans Unrecognized Prior Service Credits	53		59	87
Change in Benefit Plans Unrecognized Prior Service Credits	(6)		(28)
Unrealized Gains (Losses) on Derivative Instruments	33		(3)	(66)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	36		63
Unrealized Losses on Investments	(1)		(1)	(1)
Change in Unrealized Losses on Investments	0		0
Accumulated Other Comprehensive Income (Loss), Net of Tax	(145)		(182)	$ (273)
Total other comprehensive income (loss), net of tax	$ 37	$ 25	$ 91

STOCKHOLDERS' EQUITY Part 3 OCI

STOCKHOLDERS' EQUITY Part 3 OCI (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Other Comprehensive Income (Loss), before Tax [Abstract]
Change in cumulative translation adjustment, before tax	$ 7	$ 2
Amortization of unrecognized prior service credits	(8)	(9)
Unrealized gain (loss) during period	53	33
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(5)	7
Total other comprehensive income (loss), before tax	47	33
Other comprehensive income (loss), net of tax:
Change in cumulative translation adjustment	7	2	$ 56
Amortization of unrecognized prior service credits	(6)	(7)
Unrealized gain (loss) during period	40	25
Reclassification adjustment for (gains) losses included in net income, net	(4)	5
Total other comprehensive income (loss), net of tax	$ 37	$ 25	$ 91

EARNINGS AND DIVIDENDS PER SH_3

EARNINGS AND DIVIDENDS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 01, 2021
Earnings Per Share [Abstract]
Net earnings attributable to Eastman	$ 235	$ 274
Weighted average shares used for basic EPS (in shares)	129,000,000	136,100,000
Dilutive effect of stock options and other awards	1,700,000	1,500,000
Weighted average shares used for diluted EPS (in shares)	130,700,000	137,600,000
Earnings Per Share, Basic	$ 1.82	$ 2.01
Earnings Per Share, Diluted	$ 1.80	$ 1.99
Underlying options excluded from the computation of diluted earnings per share (in shares)	507,692	327,782
Shares repurchased (in shares)	548,035	354,795
Cash dividends declared (per share)	$ 0.76	$ 0.69
2021 Repurchase Program
Earnings Per Share [Abstract]
Stock Repurchase Program, Authorized Amount			$ 2,500
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock Repurchase Program, Authorized Amount			$ 2,500

ASSETS IMPAIRMENTS AND RESTRU_3

ASSETS IMPAIRMENTS AND RESTRUCTURING (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Other Asset Impairment Charges		$ 0	$ (1)
Severance Costs		0	1
Business Exit Costs		2	7
Total		2	7
Restructuring Charge [Roll Forward]
Balance at Beginning of Period		17	79	$ 79
Provision / Adjustments		2		47
Non-cash Reductions		0		(26)
Cash Reductions		(6)		(83)
Balance at End of Period		13		17
Facility Closing [Member]
Restructuring Charge [Roll Forward]
Balance at Beginning of Period		5	14	14
Provision / Adjustments		2		29
Restructuring Reserve, Accrual Adjustment		0		(9)
Cash Reductions		(4)		(29)
Balance at End of Period		3		5
Employee Severance [Member]
Restructuring Charge [Roll Forward]
Balance at Beginning of Period		12	65	65
Provision / Adjustments		0		2
Restructuring Reserve, Accrual Adjustment		0		(1)
Cash Reductions		(2)		(54)
Balance at End of Period		10		12
Non-Cash Charges [Member]
Restructuring Charge [Roll Forward]
Balance at Beginning of Period		0	0	0
Provision / Adjustments		0		16
Non-cash Reductions		0		(16)
Cash Reductions		0		0
Balance at End of Period		0		$ 0
Site Closure Asia Pacific [Member] | Additives And Functional Products [Member]
Restructuring Cost and Reserve [Line Items]
Other Asset Impairment Charges	[1]	0	(1)
Site Closure Singapore 2019 [Member]
Restructuring Charge [Roll Forward]
Other Restructuring Costs	[2]	1	5
Site Closure Singapore 2019 [Member] | Additives And Functional Products [Member]
Restructuring Charge [Roll Forward]
Other Restructuring Costs			1
Site Closure Singapore 2019 [Member] | Chemical Intermediates [Member]
Restructuring Charge [Roll Forward]
Other Restructuring Costs		1	4
Site Closure Asia Pacific Tire Additives [Member] | Corporate, Non-Segment [Member]
Restructuring Charge [Roll Forward]
Other Restructuring Costs	[3]	0	2
Site Closure Advanced Interlayers North America 2020 | Advanced Materials [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs	[4]	0	1
Restructuring Charge [Roll Forward]
Other Restructuring Costs	[4]	$ 1	0
Restructuring and Related Cost, Accelerated Depreciation			$ 4
[1]	Fixed asset impairments, net in the AFP segment from the previously reported closure of an animal nutrition manufacturing facility in Asia Pacific as part of ongoing site optimization.
[2]	Site closure costs in first quarter 2022 of $1 million in the Chemical Intermediates ("CI") segment and site closure costs in first quarter 2021 of $4 million and $1 million in the CI and AFP segments, respectively, resulting from closure of the Singapore manufacturing site.
[3]	Site closure costs in "Other" from the previously reported closure of a tire additives manufacturing facility in Asia Pacific as part of ongoing site optimization .
[4]	Site closure costs in first quarter 2022 and severance costs in first quarter 2021 in the AM segment due to the previously reported closure of an advanced interlayers manufacturing facility in North America as part of ongoing site optimization. In addition, accelerated depreciation of $4 million was recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in first quarter 2021 related to the closure of this facility.

SHARE-BASED COMPENSATION AWAR_3

SHARE-BASED COMPENSATION AWARDS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Expense	$ 25	$ 22
Share-based Payment Arrangement, Expense, after Tax	$ 19	$ 17
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 28.07	$ 19.81
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	28.69%	28.99%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	2.46%	3.58%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.93%	0.95%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	6 years 4 months 24 days	6 years
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 120.80	$ 109.26
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 4
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	288	311
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 120.80	$ 109.26
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 28.07	$ 19.81
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 4
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	288	311
Share-based Payment Arrangement, Expense	$ 25	$ 22
Share-based Payment Arrangement, Expense, after Tax	19	17
Share-based Payment Arrangement, Option
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Expense	$ 8	$ 4
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	362	450
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	362	450
Share-based Payment Arrangement, Expense	$ 8	$ 4
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	71	109
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
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	71	109
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Payment Arrangement
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Expense	$ 17	$ 18
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 110
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	3 years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 110
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	3 years
Share-based Payment Arrangement, Expense	$ 17	18
Qualifying Termination Eligibility Preceding Requisite Service Period
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Expense	7	2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 7	$ 2

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Information [Abstract]
Other current assets	$ 62	$ 10
Other noncurrent assets	(58)	1
Payables and other current liabilities	17	5
Long-term liabilities and equity	36	61
Total	$ 57	$ 77

SEGMENT AND REGIONAL SALES IN_3

SEGMENT AND REGIONAL SALES INFORMATION (Details) $ in Millions		3 Months Ended
		Mar. 31, 2022USD ($)Segment	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments | Segment		4
Sales [Abstract]
Sales		$ 2,714	$ 2,409
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		333	389
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	15,806		$ 15,519
Operating Segments [Member]
Sales [Abstract]
Sales		2,554	2,147
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		364	367
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	12,928		12,524
Corporate, Non-Segment [Member]
Sales [Abstract]
Sales	[2]	160	262
Corporate, Non-Segment [Member] | Growth Initiatives and Businesses not Allocated to Segments [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		(32)	1
Corporate, Non-Segment [Member] | Pension and OPEB Costs Not Allocated to Operating Segments [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		23	27
Corporate, Non-Segment [Member] | Other Nonoperating Income (Expense) [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		9	(4)
Corporate, Non-Segment [Member] | Transaction costs and Gain/Loss on Business
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		(6)	0
Corporate, Non-Segment [Member] | Steam Line Incident
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		(25)	0
Corporate, Non-Segment [Member] | Asset impairments and restructuring charges, net
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		0	(2)
Corporate, Non-Segment [Member] | Divested businesses
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		6	28
Additives And Functional Products [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		145	107
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	4,416		4,188
Additives And Functional Products [Member] | Previously Reported
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment				4,643
Additives And Functional Products [Member] | Prior Period Revised
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment				5,195
Additives And Functional Products [Member] | Operating Segments [Member]
Sales [Abstract]
Sales		805	609
Advanced Materials [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		61	146
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	4,704		4,661
Advanced Materials [Member] | Operating Segments [Member]
Sales [Abstract]
Sales		737	716
Chemical Intermediates [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		134	69
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	2,785		2,703
Chemical Intermediates [Member] | Operating Segments [Member]
Sales [Abstract]
Sales		799	605
Fibers [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes		24	45
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	1,023		972
Fibers [Member] | Operating Segments [Member]
Sales [Abstract]
Sales		213	217
Corporate and Other
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment	[1]	2,878		2,995
Corporate and Other | Previously Reported
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment				2,540
Corporate and Other | Prior Period Revised
Segment Reporting Information, Additional Information [Abstract]
Assets by Segment				$ 1,988
North America [Member]
Sales [Abstract]
Sales		1,198	1,004
Asia Pacific [Member]
Sales [Abstract]
Sales		612	608
EMEA [Member]
Sales [Abstract]
Sales		745	656
Latin America [Member]
Sales [Abstract]
Sales		$ 159	$ 141
[1]	Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets. As disclosed in Note 1, "Significant Accounting Policies", December 31, 2021 Assets by Segment have been recast from Note 20, "Segment and Regional Sales Information", to the Company's 2021 Annual Report on Form 10-K. Prior to the recast, December 31, 2021 assets reported for the AFP segment were revised from $4,643 million to $5,195 million, and assets reported for Corporate & Other Assets were revised from $2,540 million to $1,988 million. Total assets were not impacted by the misclassification.
[2]	"Other" includes sales revenue from the divested rubber additives and held for sale adhesives resins businesses previously part of the AFP segment.

Discontinued Operations and D_3

Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Nov. 01, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Liabilities held for sale	$ 99		$ 91
Gain (Loss) on Disposition of Business	3	$ 0
Tire Additives Disposal Group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net				$ 107
Disposal Group, Including Discontinued Operation, Inventory, Current				94
Disposal Group, Including Discontinued Operation, Other Assets, Current				26
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current				300
Disposal Group, Including Discontinued Operation, Goodwill, Current				398
Disposal Group, Including Discontinued Operation, Intangible Assets, Current				381
Disposal Group, Including Discontinued Operation, Assets, Current				1,306
Disposal Group, Including Discontinued Operations, Liabilities, Current, Payables				48
Disposal Group, Including Discontinued Operations, Liabilities, Current, Post Employment Obligations				34
Disposal Group, Including Discontinued Operations, Liabilities, Current, Other Liabilities				18
Liabilities held for sale				100
Disposal Group Including Discontinued Operation, Assets, Net, Current				$ 1,206
Gain (Loss) on Disposition of Business			(552)
Tire Additives Disposal Group | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration			687
Disposal Group, Deferred Gain on Disposal			75
Disposal Group, Including Discontinued Operation, Foreign Currency Translation Gains (Losses)			$ 23
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]			Gain (Loss) on Disposition of Business
Disposal Group, Including Discontinued Operations, Transaction Costs	1		$ 15
Adhesives Resins Disposal Group | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net	132
Disposal Group, Including Discontinued Operation, Inventory, Current	154
Disposal Group, Including Discontinued Operation, Other Assets, Current	28
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current	303
Disposal Group, Including Discontinued Operation, Goodwill, Current	399
Disposal Group, Including Discontinued Operation, Intangible Assets, Current	14
Disposal Group, Including Discontinued Operation, Assets, Current	1,030
Disposal Group, Including Discontinued Operations, Liabilities, Current, Payables	88
Disposal Group, Including Discontinued Operations, Liabilities, Current, Post Employment Obligations	7
Disposal Group, Including Discontinued Operations, Liabilities, Current, Other Liabilities	4
Liabilities held for sale	99
Disposal Group Including Discontinued Operation, Assets, Net, Current	931
Disposal Group, Including Discontinued Operation, Consideration	1,000
Disposal Group, Including Discontinued Operations, Transaction Costs	$ 8		$ 3