Eastman Chemical (EMN) 8-K Results of Operations and Financial Condition

Exhibit 99.02

Unaudited Financial Information Recast for Changes in the

Additives & Functional Products Segment and the Chemical Intermediates Segment

	2022
(Dollars in millions)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter		Full Year
Additives & Functional Products
Sales	$	889		$	924		$	906		$	756	$	3,475
Earnings (loss) before interest and taxes ("EBIT")	167			160			143			76		546
Depreciation and amortization												142
Chemical Intermediates
Sales	$	715		$	772		$	665		$	564	$	2,716
EBIT	112			142			68			24		346
Asset impairments and restructuring charges, net	1		1	1		1	1		1	—		3		1
EBIT excluding non-core item	113			143			69			24		349
Depreciation and amortization												104

1Site closure costs of $1 million included in each first quarter 2022, second quarter 2022, and third quarter 2022 resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site.

	2021
(Dollars in millions)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Additives & Functional Products
Sales	$	672		$	722		$	775		$	780		$	2,949
EBIT	124			115			130			112			481
Asset impairments and restructuring charges, net	—		1	2		1	1		1	1		1	4		1
EBIT excluding non-core items	124			117			131			113			485
Depreciation and amortization													141
Chemical Intermediates
Sales	$	542		$	669		$	685		$	712		$	2,608
EBIT	52			131			130			99			412
Asset impairments and restructuring charges, net	4		2	7		2	2		2	3		2	16		2
EBIT excluding non-core items	56			138			132			102			428
Depreciation and amortization													102

1Site closure costs of $1 million included in each first quarter 2021, second quarter 2021, and third quarter 2021, contract termination fees of $1 million in second quarter 2021, and asset impairments of $1 million in fourth quarter 2021 resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site. First quarter 2021 charges were offset by a $1 million gain on the sale of impaired assets from the previously reported closure of an animal nutrition manufacturing facility in Asia Pacific as part of ongoing site optimization.

2Site closure costs of $4 million, $2 million, and $1 million included in first quarter 2021, third quarter 2021, and fourth quarter 2021, respectively, contract termination fees of $7 million in second quarter 2021, and asset impairments of $2 million in fourth quarter 2021 resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site.

Exhibit 99.02

	2020
(Dollars in millions)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Additives & Functional Products
Sales	$	636		$	567		$	551		$	588		$	2,342
EBIT	135			104			95			106			440
Asset impairments and restructuring charges, net	2		1	—			1		2	—			3		1,2
EBIT excluding non-core items	137			104			96			106			443
Depreciation and amortization													132
Chemical Intermediates
Sales	$	516		$	392		$	464		$	471		$	1,843
EBIT	59			(2)			25			26			108
Asset impairments and restructuring charges, net	1		3	2		3	1		3	1		3	5		3
EBIT excluding non-core item	60			—			26			27			113
Depreciation and amortization													101

1First quarter 2020 included an intangible asset impairment of $2 million for customer relationships.

2Severance costs of $1 million included in third quarter 2020 resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site.

3Severance costs of $1 million, $2 million, $1 million, and $1 million in first quarter 2020, second quarter 2020, third quarter 2020, and fourth quarter 2020, respectively, resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing site.

	2019
(Dollars in millions)	First Quarter			Second Quarter		Third Quarter		Fourth Quarter			Full Year
Additives & Functional Products
Sales	$	650		$	618	$	619	$	568		$	2,455
EBIT	119			122		118		42			401
Asset impairments and restructuring charges, net	4		1	—		—		50		2	54		1,2
EBIT excluding non-core items	123			122		118		92			455
Depreciation and amortization											176
Chemical Intermediates
Sales	$	592		$	572	$	533	$	534		$	2,231
EBIT	66			50		25		(4)			137
Asset impairments and restructuring charges, net	—			—		—		22		3	22		3
EBIT excluding non-core item	66			50		25		18			159
Depreciation and amortization											102

1First quarter 2019 included restructuring charges of $4 million related to a capital project that was discontinued in 2016.

2Fourth quarter 2019 included a goodwill impairment charge of $45 million related to the crop protection product line and an asset impairment of $5 million resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing operations.

3Fourth quarter 2019 included asset impairment charges of $22 million resulting from the previously reported plan to discontinue production of certain products at the Singapore manufacturing operations.