Eastman Chemical (EMN) 10-Q 28 Jul 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2023 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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	118,555,734
Entity Central Index Key	0000915389
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
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
1.875% 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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Sales	$ 2,324	$ 2,784	$ 4,736	$ 5,498
Cost of sales	1,740	2,114	3,623	4,278
Gross profit	584	670	1,113	1,220
Selling, general and administrative expenses	185	185	376	381
Research and development expenses	60	67	122	132
Asset impairments and restructuring charges, net	0	19	22	21
Other components of post-employment (benefit) cost, net	(3)	(34)	(6)	(65)
Other (income) charges, net	19	14	30	2
Gain on divested business	0	(7)	0	(10)
Earnings before interest and taxes	323	426	569	759
Net interest expense	54	45	106	91
Earnings before income taxes	269	381	463	668
(Benefit from) provision for income taxes	(3)	124	57	175
Net earnings	272	257	406	493
Less: Net earnings attributable to noncontrolling interest	0	1	0	2
Net earnings attributable to Eastman	$ 272	$ 256	$ 406	$ 491
Earnings Per Share, Basic [Abstract]
Basic earnings per share attributable to Eastman	$ 2.28	$ 2.05	$ 3.41	$ 3.87
Diluted earnings per share attributable to Eastman
Diluted earnings per share attributable to Eastman	$ 2.27	$ 2.03	$ 3.39	$ 3.82
Comprehensive Income
Net earnings including noncontrolling interest	$ 272	$ 257	$ 406	$ 493
Other comprehensive income (loss), net of tax:
Change in cumulative translation adjustment	(42)	16	(43)	23
Defined benefit pension and other postretirement benefit plans:
Amortization of unrecognized prior service credits	(5)	(9)	(10)	(15)
Derivatives and hedging:
Unrealized gain (loss) during period	(5)	27	(12)	67
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	1	(32)	(1)	(36)
Total other comprehensive income (loss), net of tax	(51)	2	(66)	39
Comprehensive income including noncontrolling interest	221	259	340	532
Less: Net earnings attributable to noncontrolling interest	0	1	0	2
Comprehensive income attributable to Eastman	221	258	340	530
Retained Earnings
Retained earnings at beginning of period	9,013	8,694	8,973	8,557
Net earnings attributable to Eastman	272	256	406	491
Cash dividends declared	(95)	(93)	(189)	(191)
Retained earnings at end of period	$ 9,190	$ 8,857	$ 9,190	$ 8,857

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 410	$ 493
Trade receivables, net of allowance for credit losses	923	957
Miscellaneous receivables	282	320
Inventories	1,960	1,894
Other current assets	96	114
Total current assets	3,671	3,778
Properties
Properties and equipment at cost	13,361	12,942
Less: Accumulated depreciation	7,959	7,782
Net properties	5,402	5,160
Goodwill	3,697	3,664
Intangible assets, net of accumulated amortization	1,180	1,210
Other noncurrent assets	821	855
Total assets	14,771	14,667
Current liabilities
Payables and other current liabilities	1,943	2,125
Borrowings due within one year	844	1,126
Total current liabilities	2,787	3,251
Long-term borrowings	4,593	4,025
Deferred income tax liabilities	573	671
Post-employment obligations	622	628
Other long-term liabilities	844	856
Total liabilities	$ 9,419	$ 9,431
Common stock, shares issued (in shares)	222,729,135	222,348,557
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 – 222,729,135 and 222,348,557 as of June 30, 2023 and December 31, 2022, respectively)	$ 2	$ 2
Additional paid-in capital	2,342	2,315
Retained earnings	9,190	8,973
Accumulated other comprehensive income (loss)	(271)	(205)
Stockholder's Equity before Treasury Stock	11,263	11,085
Less: Treasury stock at cost (104,224,199 and 103,602,488 shares as of June 30, 2023 and December 31, 2022, respectively)	5,982	5,932
Total Eastman stockholders' equity	5,281	5,153
Noncontrolling interest	71	83
Total equity	5,352	5,236
Total liabilities and stockholders' equity	$ 14,771	$ 14,667
Treasury stock at cost (in shares)	104,224,199	103,602,488
Common stock, shares authorized (in shares)	350,000,000

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net earnings	$ 406	$ 493
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	260	243
Mark-to-market pension and other postretirement benefit plans (gain), net	0	(3)
Loss on sale of assets	0	15
Gain on divested business	0	(10)
Benefit from deferred income taxes	(93)	(81)
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
(Increase) decrease in trade receivables	33	(163)
(Increase) decrease in inventories	(73)	(372)
Increase (decrease) in trade payables	(290)	179
Pension and other postretirement contributions (in excess of) less than expenses	(29)	(81)
Variable compensation payments (in excess of) less than expenses	49	(132)
Other items, net	145	174
Net cash provided by operating activities	408	262
Investing activities
Additions to properties and equipment	(413)	(247)
Proceeds from sale of businesses	16	998
Acquisition, net of cash acquired	(76)	(1)
Additions to capitalized software	(4)	(7)
Other items, net	(21)	13
Net cash (used in) provided by investing activities	(498)	756
Financing activities
Net increase (decrease) in commercial paper and other borrowings	277	0
Proceeds from borrowings	796	500
Repayment of borrowings	(808)	(550)
Dividends paid to stockholders	(188)	(196)
Payments for Repurchase of Other Equity	(50)	(752)
Proceeds from stock option exercises and other items, net	(23)	(12)
Net cash provided by (used in) financing activities	4	(1,010)
Effect of exchange rate changes on cash and cash equivalents	3	(11)
Net change in cash and cash equivalents	(83)	(3)
Cash and cash equivalents at beginning of period	493	459
Cash and cash equivalents at end of period	$ 410	$ 456

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES (Notes)	6 Months Ended
	Jun. 30, 2023
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 2022 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, 2022 financial position data included herein was derived from the consolidated financial statements included in the 2022 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, revenues, and expenses of business ventures in which Eastman has a controlling interest. 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 goodwill related to the product moves announced in first quarter 2023. See Note 3, "Goodwill", and Note 14, "Segment Information", for more information. Recently Adopted Accounting Standards Accounting Standards Update ("ASU") 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers : On January 1, 2023, Eastman adopted prospectively this update, 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 adoption did not have a significant impact on the Company's financial statements and related disclosures. ASU 2022-01 Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method : On January 1, 2023, Eastman adopted this update which clarifies the guidance in Accounting Standards Codification ("ASC") 815 on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amends the guidance in ASU 2017-12 (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. The adoption did not have a significant impact on the Company's financial statements and related disclosures. ASU 2022-02 Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures : On January 1, 2023, Eastman adopted this update which amends 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. The adoption did not have a significant impact on the Company's financial statements and related disclosures. ASU 2022-04 Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations : On January 1, 2023, Eastman adopted this update which requires the buyer in a supplier finance program to disclose qualitative and quantitative information about the program. Required disclosures include information about the key terms of the program, outstanding confirmed amounts as of the end of the period, a rollforward of such amounts during each annual period, and a description of where in the financial statements outstanding amounts are presented. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the disclosure of rollforward information, which is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The adoption did not have a significant impact on the Company's financial position, results of operations, or cash flows. The required disclosures are included as part of "Working Capital Management and Off Balance Sheet Arrangements" disclosure below. Accounting Standards Issued But Not Adopted as of June 30, 2023 ASU 2022-03 Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions : The Financial Accounting Standards Board ("FASB") issued this update in June 2022, which states that when measuring the fair value of an asset or a liability, a reporting entity should consider the characteristics of the asset or liability, including restrictions on the sale of the asset or liability, if a market participant also would take those characteristics into account. Key to that determination is the unit of account for the asset or liability being measured at fair value. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. Management does not expect that changes required by the new standard will have a significant impact on the Company's financial statements and related disclosures. Working Capital Management and Off Balance Sheet Arrangements The 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 second quarter 2023 and 2022 were $753 million and $637 million, respectively, and $1.4 billion and $1.1 billion in first six months 2023 and 2022, respectively. The Company works with suppliers to optimize payment terms and conditions on accounts payable to enhance timing of working capital and cash flows. Under a supplier finance program, the Company's suppliers may voluntarily sell receivables due from Eastman to a participating financial institution. Eastman's responsibility is limited to making payments on the terms originally negotiated with suppliers, regardless of whether the suppliers sell their receivables to the financial institution. The range of payment terms Eastman negotiates with suppliers are consistent, regardless of whether a supplier participates in the program. No fees are paid by Eastman for the supplier finance platform or services fees. Eastman or the financial institution may terminate the program at any time with immediate effect upon 90 days' notice. Confirmed obligations in the supplier finance program of $55 million and $98 million at June 30, 2023 and December 31, 2022, respectively, are included in "Payables and other current liabilities" on the Unaudited Consolidated Statements of Financial Position.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES June 30, December 31, (Dollars in millions) 2023 2022 Finished goods $ 1,406 $ 1,347 Work in process 301 297 Raw materials and supplies 721 743 Total inventories at FIFO or average cost 2,428 2,387 Less: LIFO reserve 468 493 Total inventories $ 1,960 $ 1,894

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Disclosure	GOODWILLAs a result of product moves between the Additives & Functional Products ("AFP") segment and the Chemical Intermediates ("CI") segment that occurred in first quarter 2023, goodwill was reassigned to segments using a relative fair value allocation. In conjunction with the product moves and as required by GAAP, during first quarter 2023 Eastman performed an impairment assessment and concluded that no indication of an impairment existed. For further information on the product moves, see Note 1, "Significant Accounting Policies", and Note 14, "Segment Information". Changes to the carrying value of goodwill follow: (Dollars in millions) Advanced Materials Additives & Functional Products Chemical Intermediates Other Total Balance at December 31, 2022 $ 1,296 $ 1,601 $ 757 $ 10 $ 3,664 Adjustments to net goodwill resulting from reorganization — 569 (569) — — Acquisition 30 — — — 30 Currency translation adjustments (2) 2 3 — 3 Balance at June 30, 2023 $ 1,324 $ 2,172 $ 191 $ 10 $ 3,697 The reported balance of goodwill included accumulated impairment losses of $106 million, $12 million, and $14 million in the AFP segment, the CI segment, and other segments, respectively, at both June 30, 2023 and December 31, 2022.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	INCOME TAXES Second Quarter First Six Months (Dollars in millions) 2023 2022 2023 2022 $ % $ % $ % $ % (Benefit from) provision for income taxes and tax rate $ (3) (1) % $ 124 33 % $ 57 12 % $ 175 26 % Second quarter and first six months 2023 (benefit from) provision for income taxes includes a $51 million decrease due to state tax law changes that were enacted in second quarter 2023 that extend the carryforward period to utilize existing state tax credits. Additionally, first six months 2023 provision for income taxes includes a $23 million increase as a result of state guidance issued in first quarter 2023 interpreting certain provisions of the 2017 Tax Cuts and Jobs Act (the "Tax Reform Act"). Second quarter and first six months 2022 provision for income taxes included adjustments to reflect the tax implications of the divestiture of the adhesives resins business. At June 30, 2023 and December 31, 2022, Eastman had $239 million and $235 million, respectively, in unrecognized tax benefits. At June 30, 2023, 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 $55 million within the next 12 months.

BORROWINGS

BORROWINGS	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS June 30, December 31, (Dollars in millions) 2023 2022 Borrowings consisted of: 1.50% notes due May 2023 (1) $ — $ 800 7.25% debentures due January 2024 198 198 7.625% debentures due June 2024 43 43 3.80% notes due March 2025 694 693 1.875% notes due November 2026 (1) 542 530 7.60% debentures due February 2027 196 196 4.5% notes due December 2028 495 495 5.75% notes due March 2033 (2) 496 — 4.8% notes due September 2042 494 494 4.65% notes due October 2044 877 877 2024 Term Loan 300 — 2027 Term Loan 499 499 Commercial paper and short-term borrowings 603 326 Total borrowings 5,437 5,151 Less: Borrowings due within one year 844 1,126 Long-term borrowings $ 4,593 $ 4,025 (1) The carrying value of the euro-denominated 1.50% notes due May 2023 and 1.875% notes due November 2026 fluctuates 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. (2) Net proceeds from the bond issuance will be used to finance or refinance existing and future eligible green investment initiatives which contribute to Eastman's environmental sustainability strategy (a green bond). In second quarter 2023, the Company repaid the 1.50% notes due May 2023, of which $808 million, including the foreign currency impact, was repaid from a combination of available cash and debt proceeds. There were no debt extinguishment costs associated with the repayment of this debt. Total consideration for this redemption is reported under financing activities on the Unaudited Consolidated Statements of Cash Flows. In first quarter 2023, the Company issued $500 million aggregate principal amount of 5.75% notes due March 2033 in a registered public offering (the "2023 Notes"). Net proceeds from the 2023 Notes will be allocated to eligible projects to advance Eastman's sustainability goals of mitigating climate change, mainstreaming circular economy, and caring for society. Proceeds from the sale of the notes, net of original issue discounts, and issuance costs were $496 million. Credit Facility, Term Loans, and Commercial Paper Borrowings In first quarter 2023, the Company borrowed $300 million under a delayed draw two-year term loan (the "2024 Term Loan"), which was executed in fourth quarter 2022. As of June 30, 2023, the 2024 Term Loan balance outstanding was $300 million with a variable interest rate of 6.37%. In 2022, the Company borrowed $500 million under a five-year term loan agreement (the "2027 Term Loan"). The 2027 Term Loan balance outstanding was $499 million at both June 30, 2023 and December 31, 2022, with variable interest rates of 6.32% and 5.55%, respectively. Borrowings under the 2024 Term Loan and 2027 Term Loan are subject to interest at varying spreads above quoted market rates. The Company has access to a $1.50 billion revolving credit agreement (the "Credit Facility") expiring December 2026 that was amended in first quarter 2023. The amendment replaced the London Interbank Offered Rate-based ("LIBOR") reference interest rate option with a reference interest rate option based upon Term Secured Overnight Financing Rate ("SOFR") (as defined in the Credit Facility). All other material terms of the Credit Facility remain unchanged. 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, provides available liquidity for general corporate purposes, and supports commercial paper borrowings. Commercial paper borrowings are classified as short-term. At June 30, 2023 and December 31, 2022, the Company had no outstanding borrowings under the Credit Facility. At June 30, 2023, the Company's commercial paper borrowings were $603 million with a weighted average interest rate of 5.45%. At December 31, 2022, the Company's commercial paper borrowings were $326 million with a weighted average interest rate of 4.85%. The Credit Facility, the 2024 Term Loan, and the 2027 Term Loan contain 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 June 30, 2023 and December 31, 2022. Fair Value of Borrowings Eastman has classified its total borrowings at June 30, 2023 and December 31, 2022 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 2022 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, under the Term Loans and commercial paper, equals the carrying value and is classified as Level 2. At June 30, 2023 and December 31, 2022, the fair values of total borrowings were $5.2 billion and $4.9 billion, respectively. The Company had no borrowings classified as Level 1 and Level 3 as of June 30, 2023 and December 31, 2022.

DERIVATIVE AND NON-DERIVATIVE F

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2023
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 2022 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") on 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 on 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" on 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. In first quarter 2023, Eastman entered into fixed-to-fixed cross-currency swaps and designated these swaps to hedge a portion of its net investment in a euro functional currency denominated subsidiary against foreign currency fluctuations. These contracts involve the exchange of fixed U.S. dollars with fixed euro interest payments periodically over the life of the contracts and an exchange of the notional amounts at maturity. The fixed-to-fixed cross-currency swap includes €283 million ($300 million) maturing March 2033. In first quarter 2023, the Company also entered into a fixed-to-fixed cross-currency swap and designated the swap to hedge a portion of its net investment in a Japanese yen functional currency denominated subsidiary against foreign currency fluctuations. This contract involves the exchange of fixed U.S. dollars with fixed Japanese yen interest payments over the life of the contract and an exchange of the notional amounts at maturity. The fixed-to-fixed cross-currency swaps include ¥6.7 billion ($50 million) maturing March 2025. Summary of Financial Position and Financial Performance of Hedging Ins truments The following table presents the notional amounts outstanding at June 30, 2023 and December 31, 2022 associated with Eastman's hedging programs. Notional Outstanding June 30, 2023 December 31, 2022 Derivatives designated as cash flow hedges: Foreign Exchange Forward and Option Contracts (in millions) EUR/USD (in EUR) €470 €573 Commodity Forward and Collar Contracts Energy (in million british thermal units) 16 3 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) €870 €587 JPY/USD (in JPY) ¥6,723 — Non-derivatives designated as net investment hedges: Foreign Currency Net Investment Hedges (in millions) EUR/USD (in EUR) €498 €1,247 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 compares a subset of its valuations against valuations received from counterparties to validate the accuracy of its standard pricing models. The Company had no derivatives classified as Level 3 as of June 30, 2023 and December 31, 2022. 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 second quarter and first six months 2023 or 2022. 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 on 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 on the Unaudited Consolidated Statements of Financial Position as of June 30, 2023 and December 31, 2022. The Financial Position and Fair Value Measurements of Hedging Instruments on a Gross Basis (Dollars in millions) Derivative Type Statements of Financial Level 2 June 30, 2023 December 31, 2022 Derivatives designated as cash flow hedges: Commodity contracts Other current assets $ 1 $ 3 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Other current assets — 1 Derivatives designated as net investment hedges: Cross-currency interest rate swaps Other noncurrent assets 56 72 Total Derivative Assets $ 57 $ 76 Derivatives designated as cash flow hedges: Commodity contracts Payables and other current liabilities $ 6 $ 3 Foreign exchange contracts Payables and other current liabilities 9 8 Foreign exchange contracts Other long-term liabilities 4 4 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Long-term borrowings 5 5 Derivatives designated as net investment hedges: Cross-currency interest rate swaps Other long-term liabilities 20 — Total Derivative Liabilities $ 44 $ 20 Total Net Derivative Assets (Liabilities) $ 13 $ 56 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 $542 million at June 30, 2023 and $1.3 billion at December 31, 2022. The designated foreign currency-denominated borrowings are included as part of "Borrowings due within one year" and "Long-term borrowings" on 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 2022 Annual Report on Form 10-K . As of June 30, 2023 and December 31, 2022, the following amounts were included on the Unaudited Consolidated Statements of Financial Position related to cumulative basis adjustments for fair value hedges. (Dollars in millions) Carrying amount of the hedged liabilities Cumulative amount of fair value hedging loss adjustment included in the carrying amount of the hedged liability Line item on the Unaudited Consolidated Statements of Financial Position in which the hedged item is included June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Long-term borrowings $ 70 $ 70 $ (5) $ (5) 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 second quarter and first six months 2023 and 2022. Change in amount of after tax gain (loss) recognized in OCI on derivatives Pre-tax amount of gain (loss) reclassified from AOCI into earnings (Dollars in millions) Second Quarter First Six Months Second Quarter First Six Months Hedging Relationships 2023 2022 2023 2022 2023 2022 2023 2022 Derivatives in cash flow hedging relationships: Commodity contracts $ (1) $ (25) $ (4) $ (1) $ (2) $ 34 $ (3) $ 37 Foreign exchange contracts (3) 16 (10) 22 2 10 7 15 Forward starting interest rate and treasury lock swap contracts — 5 1 10 (1) (3) (2) (5) Non-derivatives in net investment hedging relationships (pre-tax): Net investment hedges 4 91 (23) 119 — — — — Derivatives in net investment hedging relationships (pre-tax): Cross-currency interest rate swaps (3) 52 (20) 75 — — — — Cross-currency interest rate swaps excluded component (18) 5 (17) (5) — — — — The following table presents the effect of fair value and cash flow hedge accounting in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for second quarter and first six months 2023 and 2022. Location and Amount of Gain or (Loss) Recognized in Earnings from Fair Value and Cash Flow Hedging Relationships Second Quarter 2023 2022 (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 $ 2,324 $ 1,740 $ 54 $ 2,784 $ 2,114 $ 45 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 (1) (3) Commodity Contracts: Amount reclassified from AOCI into earnings (2) 34 Foreign Exchange Contracts: Amount reclassified from AOCI into earnings 2 10 Location and Amount of Gain or (Loss) Recognized in Earnings from Fair Value and Cash Flow Hedging Relationships First Six Months 2023 2022 (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 $ 4,736 $ 3,623 $ 106 $ 5,498 $ 4,278 $ 91 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 2 1 Derivatives designated as hedging instruments (2) (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) (5) Commodity Contracts: Amount reclassified from AOCI into earnings (3) 37 Foreign Exchange Contracts: Amount reclassified from AOCI into earnings 7 15 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" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings. As a result of these derivatives, the Company recognized a net loss of $1 million and $6 million during second quarter and first six months 2023, respectively, and recognized a net loss of $6 million during both second quarter and first six months 2022. Pre-tax monetized positions and mark-to-market ("MTM") gains and losses from raw materials and energy, currency, and certain interest rate hedges that were included in AOCI included net gains of $58 million and $134 million at June 30, 2023 and December 31, 2022, respectively. Gains in AOCI decreased between December 31, 2022 and June 30, 2023 primarily as a result of an increase in euro to U.S. dollar exchange rates. If recognized, approximately $5 million in pre-tax losses, as of June 30, 2023, would be reclassified into earnings during the next 12 months, including foreign exchange contracts prospectively dedesignated and monetized in fourth quarter 2022.

RETIREMENT PLANS

RETIREMENT PLANS	6 Months Ended
	Jun. 30, 2023
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. Company funding is 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 2022 Annual Report on Form 10-K . Components of net periodic benefit (credit) cost were as follows: Second Quarter Pension Plans Other Postretirement Benefit Plans 2023 2022 2023 2022 (Dollars in millions) U.S. Non-U.S. U.S. Non-U.S. Service cost $ 5 $ 2 $ 6 $ 3 $ — $ — Interest cost 20 7 11 4 6 3 Expected return on assets (22) (7) (32) (8) (1) (1) Amortization of: Prior service credit, net — — — — (6) (8) Mark-to-market pension and other postretirement benefits (gain) loss (1) — — 7 (10) — — Net periodic benefit (credit) cost $ 3 $ 2 $ (8) $ (11) $ (1) $ (6) First Six Months Pension Plans Other Postretirement Benefit Plans 2023 2022 2023 2022 (Dollars in millions) U.S. Non-U.S. U.S. Non-U.S. Service cost $ 11 $ 4 $ 12 $ 7 $ — $ — Interest cost 39 14 22 8 13 7 Expected return on assets (44) (13) (64) (17) (2) (2) Amortization of: Prior service credit, net — — — — (13) (16) Mark-to-market pension and other postretirement benefits (gain) loss (1) — — 7 (10) — — Net periodic benefit (credit) cost $ 6 $ 5 $ (23) $ (12) $ (2) $ (11) (1) Also includes curtailment triggered by the sale of the adhesives resins business which is included in "Other components of post-employment (benefit) cost, net" on the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings. In 2022, subsequent to the adhesives resins divestiture, the Company retained pension liabilities of certain plan participants while the status of the participants changed in a Non-U.S. pension plan which triggered a curtailment. The Company recognized a curtailment gain of $7 million in second quarter and first six months 2022, which also triggered an interim MTM remeasurement of the impacted Non-U.S. pension plan's assets and liabilities that led to a gain of $3 million in second quarter and first six months 2022. Settlements are triggered in a plan when distributions exceed the sum of service cost and interest cost of the respective plan. Lump sum payments from a U.S. pension plan resulted in a plan settlement in second quarter and first six months 2022. The settlement itself was not material, but it triggered an interim MTM remeasurement of the impacted U.S. pension plan's assets and liabilities resulting in a $7 million loss in second quarter and first six months 2022.

ENVIRONMENTAL MATTERS AND ASSET

ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS	6 Months Ended
	Jun. 30, 2023
Accrual for Environmental Loss Contingencies Disclosure [Abstract]
Environmental Matters	ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS Certain Eastman manufacturing facilities generate hazardous and nonhazardous wastes, of which the treatment, storage, transportation, and disposal 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 2022 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. 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" on the Unaudited Consolidated Statements of Financial Position as follows: (Dollars in millions) June 30, 2023 December 31, 2022 Environmental contingencies, current $ 10 $ 10 Environmental contingencies, long-term 280 264 Total $ 290 $ 274 Environmental Remediation Estimated future environmental expenditures for undiscounted remediation costs ranged from the best estimate or minimum of $258 million to the maximum of $500 million and from the best estimate or minimum of $245 million to the maximum of $457 million at June 30, 2023 and December 31, 2022, respectively. The best estimate or minimum estimated future environmental expenditures are considered to be probable and reasonably estimable. 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" and "Other (income) charges, net" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings. Changes in the reserves for environmental remediation liabilities during first six months 2023 and full year 2022 are summarized below: (Dollars in millions) Environmental Remediation Liabilities Balance at December 31, 2021 $ 253 Changes in estimates recognized in earnings and other 6 Cash reductions (14) Balance at December 31, 2022 245 Changes in estimates recognized in earnings and other 18 Cash reductions (5) Balance at June 30, 2023 $ 258 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 primarily consist of closure and post-closure costs. For sites that have environmental asset retirement obligations, the best estimate recognized to date for these environmental asset retirement obligation costs were $32 million and $29 million at June 30, 2023 and December 31, 2022, respectively. 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 $52 million and $51 million at June 30, 2023 and December 31, 2022, respectively, and are included in "Other long-term liabilities" on the Unaudited Consolidated Statements of Financial Position.

LEGAL MATTERS

LEGAL MATTERS	6 Months Ended
	Jun. 30, 2023
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	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY Reconciliations of the changes in stockholders' equity for second quarter and first six months 2023 and 2022 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 March 31, 2023 $ 2 $ 2,325 $ 9,013 $ (220) $ (5,932) $ 5,188 $ 74 $ 5,262 Net Earnings — — 272 — — 272 — 272 Cash Dividends Declared (1) ($0.79 per share) — — (95) — — (95) — (95) Other Comprehensive Income (Loss) — — — (51) — (51) — (51) Share-Based Compensation Expense (2) — 17 — — — 17 — 17 Other — — — — — — (1) (1) Share Repurchases — — — — (50) (50) — (50) Distributions to noncontrolling interest — — — — — — (2) (2) Balance at June 30, 2023 $ 2 $ 2,342 $ 9,190 $ (271) $ (5,982) $ 5,281 $ 71 $ 5,352 (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 March 31, 2022 $ 2 $ 2,262 $ 8,694 $ (145) $ (4,920) $ 5,893 $ 84 $ 5,977 Net Earnings — — 256 — — 256 1 257 Cash Dividends Declared (1) ($0.76 per share) — — (93) — — (93) — (93) Other Comprehensive Income (Loss) — — — 2 — 2 — 2 Share-Based Compensation Expense (2) — 17 — — — 17 — 17 Stock Option Exercises — 1 — — — 1 — 1 Other — (1) — — — (1) (1) (2) Share Repurchases (3) — (100) — — (652) (752) — (752) Balance at June 30, 2022 $ 2 $ 2,179 $ 8,857 $ (143) $ (5,572) $ 5,323 $ 84 $ 5,407 (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 payment for repurchase of shares under the second quarter 2022 accelerated share repurchase program ("2022 ASR") which were settled after June 30, 2022. (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, 2022 $ 2 $ 2,315 $ 8,973 $ (205) $ (5,932) $ 5,153 $ 83 $ 5,236 Net Earnings — — 406 — — 406 — 406 Cash Dividends Declared (1) ($1.58 per share) — — (189) — — (189) — (189) Other Comprehensive Income (Loss) — — — (66) — (66) — (66) Share-Based Compensation Expense (2) — 39 — — — 39 — 39 Stock Option Exercises — 2 — — — 2 — 2 Other (3) — (14) — — — (14) 2 (12) Share Repurchases — — — — (50) (50) — (50) Distributions to Noncontrolling Interest — — — — — — (14) (14) Balance at June 30, 2023 $ 2 $ 2,342 $ 9,190 $ (271) $ (5,982) $ 5,281 $ 71 $ 5,352 (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 — — 491 — — 491 2 493 Cash Dividends Declared (1) ($1.52 per share) — — (191) — — (191) — (191) Other Comprehensive Income (Loss) — — — 39 — 39 — 39 Share-Based Compensation Expense (2) — 42 — — — 42 — 42 Stock Option Exercises — 9 — — — 9 — 9 Other (3) — (19) — — — (19) (2) (21) Share Repurchases (4) — (40) — — (712) (752) — (752) Balance at June 30, 2022 $ 2 $ 2,179 $ 8,857 $ (143) $ (5,572) $ 5,323 $ 84 $ 5,407 (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) Additional paid-in capital includes payment for repurchase of shares under the 2022 ASR which were settled after June 30, 2022, offset by treasury shares delivered pursuant to final settlement of the 2021 accelerated share repurchase program accounted for as a reduction of Additional paid-in capital prior to settlement. Accumulated Other Comprehensive Income (Loss), Net of Tax (Dollars in millions) Cumulative Translation Adjustment Benefit Plans Unrecognized Prior Service Credits Unrealized Gains (Losses) on Derivative Instruments Unrealized Losses on Investments Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2021 $ (237) $ 59 $ (3) $ (1) $ (182) Period change 7 (27) (3) — (23) Balance at December 31, 2022 (230) 32 (6) (1) (205) Period change (43) (10) (13) — (66) Balance at June 30, 2023 $ (273) $ 22 $ (19) $ (1) $ (271) 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: Second Quarter 2023 2022 (Dollars in millions) Before Tax Net of Tax Before Tax Net of Tax Other comprehensive income (loss) Change in cumulative translation adjustment $ (42) $ (42) $ 16 $ 16 Defined benefit pension and other postretirement benefit plans: Amortization of unrecognized prior service credits (6) (5) (12) (9) Derivatives and hedging: Unrealized gain (loss) during period (7) (5) 36 27 Reclassification adjustment for (gains) losses included in net income, net 2 1 (43) (32) Total other comprehensive income (loss) $ (53) $ (51) $ (3) $ 2 First Six Months 2023 2022 (Dollars in millions) Before Tax Net of Tax Before Tax Net of Tax Other comprehensive income (loss) Change in cumulative translation adjustment $ (43) $ (43) $ 23 $ 23 Defined benefit pension and other postretirement benefit plans: Amortization of unrecognized prior service credits (13) (10) (20) (15) Derivatives and hedging: Unrealized gain (loss) during period (16) (12) 89 67 Reclassification adjustment for (gains) losses included in net income, net (1) (1) (48) (36) Total other comprehensive income (loss) $ (73) $ (66) $ 44 $ 39

EARNINGS AND DIVIDENDS PER SHAR

EARNINGS AND DIVIDENDS PER SHARE	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings 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: Second Quarter First Six Months (In millions, except per share amounts) 2023 2022 2023 2022 Numerator Earnings attributable to Eastman, net of tax $ 272 $ 256 $ 406 $ 491 Denominator Weighted average shares used for basic EPS 118.8 124.8 118.9 126.9 Dilutive effect of stock options and other awards 0.8 1.6 0.7 1.7 Weighted average shares used for diluted EPS 119.6 126.4 119.6 128.6 (Calculated using whole dollars and shares) EPS Basic $ 2.28 $ 2.05 $ 3.41 $ 3.87 Diluted $ 2.27 $ 2.03 $ 3.39 $ 3.82 Shares underlying stock options of 2,411,015 and 1,342,328 for second quarter 2023 and 2022, respectively, and 1,941,051 and 507,692 for first six months 2023 and 2022, respectively, were excluded from calculations of diluted EPS 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. The Company repurchased 621,711 shares in both second quarter and first six months 2023. The Company repurchased 6,118,034 and 6,666,069 shares in second quarter and first six months 2022, respectively. The Company declared cash dividends of $0.79 and $0.76 per share for second quarter 2023 and 2022, respectively. The Company declared cash dividends of $1.58 and $1.52 per share for first six months 2023 and 2022, respectively.

ASSETS IMPAIRMENTS AND RESTRUCT

ASSETS IMPAIRMENTS AND RESTRUCTURING	6 Months Ended
	Jun. 30, 2023
Restructuring Costs and Asset Impairment Charges [Abstract]
ASSET IMPAIRMENTS AND RESTRUCTURING	ASSET IMPAIRMENTS AND RESTRUCTURING CHARGES, NET (Dollars in millions) Second Quarter First Six Months 2023 2022 2023 2022 Net loss on sale of previously impaired assets (1) $ — $ 15 $ — $ 15 Severance charges (2)(3) — 3 16 3 Site closure and other restructuring charges (4) (5) (6) — 1 6 3 Total $ — $ 19 $ 22 $ 21 (1) Second quarter and first six months 2022 includes a $16 million loss on transfer of previously impaired assets to a third party in the Advanced Materials ("AM") segment for the previously reported closure of an advanced interlayers manufacturing facility in North America, partially offset by a $1 million gain on sale of previously impaired assets reported in "Other" from the previously reported closure of a tire additives manufacturing facility in Asia Pacific . (2) First six months 2023 severance charges as part of fourth quarter 2022 cost reduction initiatives reported in "Other". (3) Second quarter and first six months 2022 severance charges of $2 million as part of business improvement reported in "Other" and $1 million in the AM segment from the previously reported closure of a performance films manufacturing facility in North America. (4) First six months 2023 site closure costs related to the closure of an acetate yarn manufacturing facility in Europe in the Fibers segment. In addition, accelerated depreciation of $23 million was recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in first six months 2023 related to the closure of this facility. (5) Site closure costs of $1 million and $2 million in second quarter and first six months 2022, respectively, in the CI segment resulting from the closure of a Singapore manufacturing site. (6) Site closure costs of $1 million in first six months 2022 in the AM segment from the closure of an advanced interlayers manufacturing facility in North America. Changes in Reserves The following table summarizes the changes in asset impairments and restructuring reserves in first six months 2023 and full year 2022: (Dollars in millions) Balance at January 1, 2023 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at June 30, 2023 Severance costs $ 34 $ 16 $ — $ (29) $ 21 Other restructuring costs 18 6 — (23) 1 Total $ 52 $ 22 $ — $ (52) $ 22 (Dollars in millions) Balance at January 1, 2022 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at December 31, 2022 Severance costs $ 12 $ 31 $ — $ (9) $ 34 Other restructuring costs 5 21 1 (9) 18 Total $ 17 $ 52 $ 1 $ (18) $ 52 Substantially all severance costs remaining are expected to be applied to the reserves within one year.

SHARE BASED COMPENSATION AWARDS

SHARE BASED COMPENSATION AWARDS	6 Months Ended
	Jun. 30, 2023
SHARE BASED COMPENSATION AWARDS [Abstract]
Share-based Payment Arrangement [Text Block]	SHARE-BASED COMPENSATION AWARDSThe 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 long-term performance shares. In both second quarter 2023 and 2022, $17 million of compensation expense before tax was 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. The impact on both second quarter 2023 and 2022 net earnings of $13 million is net of deferred tax expense related to share-based award compensation for each period. In first six months 2023 and 2022, $39 million and $42 million, respectively, of compensation expense before tax was recognized in SG&A in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for all share-based awards. The impact on first six months 2023 and 2022 net earnings of $29 million and $32 million, respectively, is net of deferred tax expense related to share-based award compensation for each period. 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 2022 Annual Report on Form 10-K .

SEGMENT AND REGIONAL SALES INFO

SEGMENT AND REGIONAL SALES INFORMATION	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Eastman's products and operations are managed and reported in four operating segments: Advanced Materials ("AM"), Additives & Functional Products ("AFP"), 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 2022 Annual Report on Form 10-K . For additional financial and product information for each segment, see Part I, Item 1, "Business - Business Segments", in the Company's 2022 Annual Report on Form 10-K . In first quarter 2023, the Company moved the functional amines product line into the AFP segment. In addition, certain organic acid products and olefin-based products moved from the AFP segment to the CI segment. These product moves are expected to increase efficiency of the Company's assets and commercial teams, and to increase portfolio transparency. The information presented below has been recast for all periods presented. (Dollars in millions) Second Quarter First Six Months Sales by Segment 2023 2022 2023 2022 Advanced Materials $ 739 $ 846 $ 1,481 $ 1,583 Additives & Functional Products (1) 747 924 $ 1,524 1,813 Chemical Intermediates (1) 514 772 1,103 1,487 Fibers 323 242 626 455 Total Sales by Operating Segment 2,323 2,784 4,734 5,338 Other (2) 1 — 2 160 Total Sales $ 2,324 $ 2,784 $ 4,736 $ 5,498 (1) 2022 is reclassified to conform to current period presentation. (2) "Other" in first six months 2022 is sales revenue from the previously divested business. (Dollars in millions) Second Quarter First Six Months Earnings (Loss) Before Interest and Taxes by Segment 2023 2022 2023 2022 Advanced Materials $ 99 $ 141 $ 185 $ 202 Additives & Functional Products (1) 140 160 264 327 Chemical Intermediates (1) 39 142 81 254 Fibers 106 37 171 61 Total Earnings Before Interest and Taxes by Operating Segment 384 480 701 844 Other (2) Growth initiatives and businesses not allocated to operating segments (45) (53) (96) (85) Pension and other postretirement benefits income (expense), net not allocated to operating segments (4) 26 (8) 49 Asset impairments and restructuring charges, net — (1) (16) (1) Net gain (loss) on divested business and transaction costs — 5 — (1) Steam line incident (costs) insurance proceeds, net — (17) 8 (42) Other income (charges), net not allocated to operating segments (12) (14) (20) (5) Total Earnings Before Interest and Taxes $ 323 $ 426 $ 569 $ 759 (1) 2022 is reclassified to conform to current period presentation. (2) "Other" in first six months 2022 includes EBIT of $6 million from the previously divested business.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
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 2022 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, 2022 financial position data included herein was derived from the consolidated financial statements included in the 2022 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, revenues, and expenses of business ventures in which Eastman has a controlling interest. 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 goodwill related to the product moves announced in first quarter 2023. See Note 3, "Goodwill", and Note 14, "Segment Information", for more information.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards Accounting Standards Update ("ASU") 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers : On January 1, 2023, Eastman adopted prospectively this update, 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 adoption did not have a significant impact on the Company's financial statements and related disclosures. ASU 2022-01 Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method : On January 1, 2023, Eastman adopted this update which clarifies the guidance in Accounting Standards Codification ("ASC") 815 on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amends the guidance in ASU 2017-12 (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. The adoption did not have a significant impact on the Company's financial statements and related disclosures. ASU 2022-02 Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures : On January 1, 2023, Eastman adopted this update which amends 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. The adoption did not have a significant impact on the Company's financial statements and related disclosures. ASU 2022-04 Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations : On January 1, 2023, Eastman adopted this update which requires the buyer in a supplier finance program to disclose qualitative and quantitative information about the program. Required disclosures include information about the key terms of the program, outstanding confirmed amounts as of the end of the period, a rollforward of such amounts during each annual period, and a description of where in the financial statements outstanding amounts are presented. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the disclosure of rollforward information, which is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The adoption did not have a significant impact on the Company's financial position, results of operations, or cash flows. The required disclosures are included as part of "Working Capital Management and Off Balance Sheet Arrangements" disclosure below. Accounting Standards Issued But Not Adopted as of June 30, 2023 ASU 2022-03 Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions : The Financial Accounting Standards Board ("FASB") issued this update in June 2022, which states that when measuring the fair value of an asset or a liability, a reporting entity should consider the characteristics of the asset or liability, including restrictions on the sale of the asset or liability, if a market participant also would take those characteristics into account. Key to that determination is the unit of account for the asset or liability being measured at fair value. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. Management does not expect that changes required by the new standard will have a significant impact on the Company's financial statements and related disclosures.
Off-Balance-Sheet Credit Exposure, Policy	Working Capital Management and Off Balance Sheet Arrangements The 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 second quarter 2023 and 2022 were $753 million and $637 million, respectively, and $1.4 billion and $1.1 billion in first six months 2023 and 2022, respectively. The Company works with suppliers to optimize payment terms and conditions on accounts payable to enhance timing of working capital and cash flows. Under a supplier finance program, the Company's suppliers may voluntarily sell receivables due from Eastman to a participating financial institution. Eastman's responsibility is limited to making payments on the terms originally negotiated with suppliers, regardless of whether the suppliers sell their receivables to the financial institution. The range of payment terms Eastman negotiates with suppliers are consistent, regardless of whether a supplier participates in the program. No fees are paid by Eastman for the supplier finance platform or services fees. Eastman or the financial institution may terminate the program at any time with immediate effect upon 90 days' notice. Confirmed obligations in the supplier finance program of $55 million and $98 million at June 30, 2023 and December 31, 2022, respectively, are included in "Payables and other current liabilities" on the Unaudited Consolidated Statements of Financial Position.

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of inventories	June 30, December 31, (Dollars in millions) 2023 2022 Finished goods $ 1,406 $ 1,347 Work in process 301 297 Raw materials and supplies 721 743 Total inventories at FIFO or average cost 2,428 2,387 Less: LIFO reserve 468 493 Total inventories $ 1,960 $ 1,894

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes to the carrying value of goodwill follow: (Dollars in millions) Advanced Materials Additives & Functional Products Chemical Intermediates Other Total Balance at December 31, 2022 $ 1,296 $ 1,601 $ 757 $ 10 $ 3,664 Adjustments to net goodwill resulting from reorganization — 569 (569) — — Acquisition 30 — — — 30 Currency translation adjustments (2) 2 3 — 3 Balance at June 30, 2023 $ 1,324 $ 2,172 $ 191 $ 10 $ 3,697

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Second Quarter First Six Months (Dollars in millions) 2023 2022 2023 2022 $ % $ % $ % $ % (Benefit from) provision for income taxes and tax rate $ (3) (1) % $ 124 33 % $ 57 12 % $ 175 26 %

BORROWINGS (Tables)

BORROWINGS (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-term Borrowings	June 30, December 31, (Dollars in millions) 2023 2022 Borrowings consisted of: 1.50% notes due May 2023 (1) $ — $ 800 7.25% debentures due January 2024 198 198 7.625% debentures due June 2024 43 43 3.80% notes due March 2025 694 693 1.875% notes due November 2026 (1) 542 530 7.60% debentures due February 2027 196 196 4.5% notes due December 2028 495 495 5.75% notes due March 2033 (2) 496 — 4.8% notes due September 2042 494 494 4.65% notes due October 2044 877 877 2024 Term Loan 300 — 2027 Term Loan 499 499 Commercial paper and short-term borrowings 603 326 Total borrowings 5,437 5,151 Less: Borrowings due within one year 844 1,126 Long-term borrowings $ 4,593 $ 4,025 (1) The carrying value of the euro-denominated 1.50% notes due May 2023 and 1.875% notes due November 2026 fluctuates 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. (2) Net proceeds from the bond issuance will be used to finance or refinance existing and future eligible green investment initiatives which contribute to Eastman's environmental sustainability strategy (a green bond).

DERIVATIVE AND NON-DERIVATIVE_2

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Cumulative basis adjustments for fair value hedges on balance sheet [Table Text Block]	As of June 30, 2023 and December 31, 2022, the following amounts were included on the Unaudited Consolidated Statements of Financial Position related to cumulative basis adjustments for fair value hedges. (Dollars in millions) Carrying amount of the hedged liabilities Cumulative amount of fair value hedging loss adjustment included in the carrying amount of the hedged liability Line item on the Unaudited Consolidated Statements of Financial Position in which the hedged item is included June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Long-term borrowings $ 70 $ 70 $ (5) $ (5)
Derivative Instruments, Gain (Loss) [Table Text Block]	The following table presents the effect of fair value and cash flow hedge accounting in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings for second quarter and first six months 2023 and 2022. Location and Amount of Gain or (Loss) Recognized in Earnings from Fair Value and Cash Flow Hedging Relationships Second Quarter 2023 2022 (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 $ 2,324 $ 1,740 $ 54 $ 2,784 $ 2,114 $ 45 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 (1) (3) Commodity Contracts: Amount reclassified from AOCI into earnings (2) 34 Foreign Exchange Contracts: Amount reclassified from AOCI into earnings 2 10 Location and Amount of Gain or (Loss) Recognized in Earnings from Fair Value and Cash Flow Hedging Relationships First Six Months 2023 2022 (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 $ 4,736 $ 3,623 $ 106 $ 5,498 $ 4,278 $ 91 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 2 1 Derivatives designated as hedging instruments (2) (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) (5) Commodity Contracts: Amount reclassified from AOCI into earnings (3) 37 Foreign Exchange Contracts: Amount reclassified from AOCI into earnings 7 15
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following table presents the notional amounts outstanding at June 30, 2023 and December 31, 2022 associated with Eastman's hedging programs. Notional Outstanding June 30, 2023 December 31, 2022 Derivatives designated as cash flow hedges: Foreign Exchange Forward and Option Contracts (in millions) EUR/USD (in EUR) €470 €573 Commodity Forward and Collar Contracts Energy (in million british thermal units) 16 3 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) €870 €587 JPY/USD (in JPY) ¥6,723 — Non-derivatives designated as net investment hedges: Foreign Currency Net Investment Hedges (in millions) EUR/USD (in EUR) €498 €1,247
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 second quarter and first six months 2023 and 2022. Change in amount of after tax gain (loss) recognized in OCI on derivatives Pre-tax amount of gain (loss) reclassified from AOCI into earnings (Dollars in millions) Second Quarter First Six Months Second Quarter First Six Months Hedging Relationships 2023 2022 2023 2022 2023 2022 2023 2022 Derivatives in cash flow hedging relationships: Commodity contracts $ (1) $ (25) $ (4) $ (1) $ (2) $ 34 $ (3) $ 37 Foreign exchange contracts (3) 16 (10) 22 2 10 7 15 Forward starting interest rate and treasury lock swap contracts — 5 1 10 (1) (3) (2) (5) Non-derivatives in net investment hedging relationships (pre-tax): Net investment hedges 4 91 (23) 119 — — — — Derivatives in net investment hedging relationships (pre-tax): Cross-currency interest rate swaps (3) 52 (20) 75 — — — — Cross-currency interest rate swaps excluded component (18) 5 (17) (5) — — — —
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 on the Unaudited Consolidated Statements of Financial Position as of June 30, 2023 and December 31, 2022. The Financial Position and Fair Value Measurements of Hedging Instruments on a Gross Basis (Dollars in millions) Derivative Type Statements of Financial Level 2 June 30, 2023 December 31, 2022 Derivatives designated as cash flow hedges: Commodity contracts Other current assets $ 1 $ 3 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Other current assets — 1 Derivatives designated as net investment hedges: Cross-currency interest rate swaps Other noncurrent assets 56 72 Total Derivative Assets $ 57 $ 76 Derivatives designated as cash flow hedges: Commodity contracts Payables and other current liabilities $ 6 $ 3 Foreign exchange contracts Payables and other current liabilities 9 8 Foreign exchange contracts Other long-term liabilities 4 4 Derivatives designated as fair value hedges: Fixed-for-floating interest rate swap Long-term borrowings 5 5 Derivatives designated as net investment hedges: Cross-currency interest rate swaps Other long-term liabilities 20 — Total Derivative Liabilities $ 44 $ 20 Total Net Derivative Assets (Liabilities) $ 13 $ 56

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Components of net periodic benefit cost	Components of net periodic benefit (credit) cost were as follows: Second Quarter Pension Plans Other Postretirement Benefit Plans 2023 2022 2023 2022 (Dollars in millions) U.S. Non-U.S. U.S. Non-U.S. Service cost $ 5 $ 2 $ 6 $ 3 $ — $ — Interest cost 20 7 11 4 6 3 Expected return on assets (22) (7) (32) (8) (1) (1) Amortization of: Prior service credit, net — — — — (6) (8) Mark-to-market pension and other postretirement benefits (gain) loss (1) — — 7 (10) — — Net periodic benefit (credit) cost $ 3 $ 2 $ (8) $ (11) $ (1) $ (6) First Six Months Pension Plans Other Postretirement Benefit Plans 2023 2022 2023 2022 (Dollars in millions) U.S. Non-U.S. U.S. Non-U.S. Service cost $ 11 $ 4 $ 12 $ 7 $ — $ — Interest cost 39 14 22 8 13 7 Expected return on assets (44) (13) (64) (17) (2) (2) Amortization of: Prior service credit, net — — — — (13) (16) Mark-to-market pension and other postretirement benefits (gain) loss (1) — — 7 (10) — — Net periodic benefit (credit) cost $ 6 $ 5 $ (23) $ (12) $ (2) $ (11)

ENVIRONMENTAL MATTERS AND ASS_2

ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2023
Accrual for Environmental Loss Contingencies Disclosure [Abstract]
Schedule of environmental liabilities, current and non-current	(Dollars in millions) June 30, 2023 December 31, 2022 Environmental contingencies, current $ 10 $ 10 Environmental contingencies, long-term 280 264 Total $ 290 $ 274
Schedule of changes to environmental remediation liabilities	Changes in the reserves for environmental remediation liabilities during first six months 2023 and full year 2022 are summarized below: (Dollars in millions) Environmental Remediation Liabilities Balance at December 31, 2021 $ 253 Changes in estimates recognized in earnings and other 6 Cash reductions (14) Balance at December 31, 2022 245 Changes in estimates recognized in earnings and other 18 Cash reductions (5) Balance at June 30, 2023 $ 258

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Reconciliation of the changes in stockholders' equity	Reconciliations of the changes in stockholders' equity for second quarter and first six months 2023 and 2022 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 March 31, 2023 $ 2 $ 2,325 $ 9,013 $ (220) $ (5,932) $ 5,188 $ 74 $ 5,262 Net Earnings — — 272 — — 272 — 272 Cash Dividends Declared (1) ($0.79 per share) — — (95) — — (95) — (95) Other Comprehensive Income (Loss) — — — (51) — (51) — (51) Share-Based Compensation Expense (2) — 17 — — — 17 — 17 Other — — — — — — (1) (1) Share Repurchases — — — — (50) (50) — (50) Distributions to noncontrolling interest — — — — — — (2) (2) Balance at June 30, 2023 $ 2 $ 2,342 $ 9,190 $ (271) $ (5,982) $ 5,281 $ 71 $ 5,352 (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 March 31, 2022 $ 2 $ 2,262 $ 8,694 $ (145) $ (4,920) $ 5,893 $ 84 $ 5,977 Net Earnings — — 256 — — 256 1 257 Cash Dividends Declared (1) ($0.76 per share) — — (93) — — (93) — (93) Other Comprehensive Income (Loss) — — — 2 — 2 — 2 Share-Based Compensation Expense (2) — 17 — — — 17 — 17 Stock Option Exercises — 1 — — — 1 — 1 Other — (1) — — — (1) (1) (2) Share Repurchases (3) — (100) — — (652) (752) — (752) Balance at June 30, 2022 $ 2 $ 2,179 $ 8,857 $ (143) $ (5,572) $ 5,323 $ 84 $ 5,407 (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 payment for repurchase of shares under the second quarter 2022 accelerated share repurchase program ("2022 ASR") which were settled after June 30, 2022. (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, 2022 $ 2 $ 2,315 $ 8,973 $ (205) $ (5,932) $ 5,153 $ 83 $ 5,236 Net Earnings — — 406 — — 406 — 406 Cash Dividends Declared (1) ($1.58 per share) — — (189) — — (189) — (189) Other Comprehensive Income (Loss) — — — (66) — (66) — (66) Share-Based Compensation Expense (2) — 39 — — — 39 — 39 Stock Option Exercises — 2 — — — 2 — 2 Other (3) — (14) — — — (14) 2 (12) Share Repurchases — — — — (50) (50) — (50) Distributions to Noncontrolling Interest — — — — — — (14) (14) Balance at June 30, 2023 $ 2 $ 2,342 $ 9,190 $ (271) $ (5,982) $ 5,281 $ 71 $ 5,352 (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 — — 491 — — 491 2 493 Cash Dividends Declared (1) ($1.52 per share) — — (191) — — (191) — (191) Other Comprehensive Income (Loss) — — — 39 — 39 — 39 Share-Based Compensation Expense (2) — 42 — — — 42 — 42 Stock Option Exercises — 9 — — — 9 — 9 Other (3) — (19) — — — (19) (2) (21) Share Repurchases (4) — (40) — — (712) (752) — (752) Balance at June 30, 2022 $ 2 $ 2,179 $ 8,857 $ (143) $ (5,572) $ 5,323 $ 84 $ 5,407 (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) Additional paid-in capital includes payment for repurchase of shares under the 2022 ASR which were settled after June 30, 2022, offset by treasury shares delivered pursuant to final settlement of the 2021 accelerated share repurchase program accounted for as a reduction of Additional paid-in capital prior to settlement.
Accumulated Other Comprehensive Income (Loss)	(Dollars in millions) Cumulative Translation Adjustment Benefit Plans Unrecognized Prior Service Credits Unrealized Gains (Losses) on Derivative Instruments Unrealized Losses on Investments Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2021 $ (237) $ 59 $ (3) $ (1) $ (182) Period change 7 (27) (3) — (23) Balance at December 31, 2022 (230) 32 (6) (1) (205) Period change (43) (10) (13) — (66) Balance at June 30, 2023 $ (273) $ 22 $ (19) $ (1) $ (271)
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: Second Quarter 2023 2022 (Dollars in millions) Before Tax Net of Tax Before Tax Net of Tax Other comprehensive income (loss) Change in cumulative translation adjustment $ (42) $ (42) $ 16 $ 16 Defined benefit pension and other postretirement benefit plans: Amortization of unrecognized prior service credits (6) (5) (12) (9) Derivatives and hedging: Unrealized gain (loss) during period (7) (5) 36 27 Reclassification adjustment for (gains) losses included in net income, net 2 1 (43) (32) Total other comprehensive income (loss) $ (53) $ (51) $ (3) $ 2 First Six Months 2023 2022 (Dollars in millions) Before Tax Net of Tax Before Tax Net of Tax Other comprehensive income (loss) Change in cumulative translation adjustment $ (43) $ (43) $ 23 $ 23 Defined benefit pension and other postretirement benefit plans: Amortization of unrecognized prior service credits (13) (10) (20) (15) Derivatives and hedging: Unrealized gain (loss) during period (16) (12) 89 67 Reclassification adjustment for (gains) losses included in net income, net (1) (1) (48) (36) Total other comprehensive income (loss) $ (73) $ (66) $ 44 $ 39

EARNINGS AND DIVIDENDS PER SH_2

EARNINGS AND DIVIDENDS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2023
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: Second Quarter First Six Months (In millions, except per share amounts) 2023 2022 2023 2022 Numerator Earnings attributable to Eastman, net of tax $ 272 $ 256 $ 406 $ 491 Denominator Weighted average shares used for basic EPS 118.8 124.8 118.9 126.9 Dilutive effect of stock options and other awards 0.8 1.6 0.7 1.7 Weighted average shares used for diluted EPS 119.6 126.4 119.6 128.6 (Calculated using whole dollars and shares) EPS Basic $ 2.28 $ 2.05 $ 3.41 $ 3.87 Diluted $ 2.27 $ 2.03 $ 3.39 $ 3.82

ASSETS IMPAIRMENTS AND RESTRU_2

ASSETS IMPAIRMENTS AND RESTRUCTURING (Tables)	6 Months Ended
	Jun. 30, 2023
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 reserves in first six months 2023 and full year 2022: (Dollars in millions) Balance at January 1, 2023 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at June 30, 2023 Severance costs $ 34 $ 16 $ — $ (29) $ 21 Other restructuring costs 18 6 — (23) 1 Total $ 52 $ 22 $ — $ (52) $ 22 (Dollars in millions) Balance at January 1, 2022 Provision/ Adjustments Non-cash Reductions/ Cash Reductions Balance at December 31, 2022 Severance costs $ 12 $ 31 $ — $ (9) $ 34 Other restructuring costs 5 21 1 (9) 18 Total $ 17 $ 52 $ 1 $ (18) $ 52
Restructuring and Related Costs [Table Text Block]	(Dollars in millions) Second Quarter First Six Months 2023 2022 2023 2022 Net loss on sale of previously impaired assets (1) $ — $ 15 $ — $ 15 Severance charges (2)(3) — 3 16 3 Site closure and other restructuring charges (4) (5) (6) — 1 6 3 Total $ — $ 19 $ 22 $ 21 (1) Second quarter and first six months 2022 includes a $16 million loss on transfer of previously impaired assets to a third party in the Advanced Materials ("AM") segment for the previously reported closure of an advanced interlayers manufacturing facility in North America, partially offset by a $1 million gain on sale of previously impaired assets reported in "Other" from the previously reported closure of a tire additives manufacturing facility in Asia Pacific . (2) First six months 2023 severance charges as part of fourth quarter 2022 cost reduction initiatives reported in "Other". (3) Second quarter and first six months 2022 severance charges of $2 million as part of business improvement reported in "Other" and $1 million in the AM segment from the previously reported closure of a performance films manufacturing facility in North America. (4) First six months 2023 site closure costs related to the closure of an acetate yarn manufacturing facility in Europe in the Fibers segment. In addition, accelerated depreciation of $23 million was recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in first six months 2023 related to the closure of this facility. (5) Site closure costs of $1 million and $2 million in second quarter and first six months 2022, respectively, in the CI segment resulting from the closure of a Singapore manufacturing site. (6) Site closure costs of $1 million in first six months 2022 in the AM segment from the closure of an advanced interlayers manufacturing facility in North America.

SEGMENT AND REGIONAL SALES IN_2

SEGMENT AND REGIONAL SALES INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information Disclosure	(Dollars in millions) Second Quarter First Six Months Sales by Segment 2023 2022 2023 2022 Advanced Materials $ 739 $ 846 $ 1,481 $ 1,583 Additives & Functional Products (1) 747 924 $ 1,524 1,813 Chemical Intermediates (1) 514 772 1,103 1,487 Fibers 323 242 626 455 Total Sales by Operating Segment 2,323 2,784 4,734 5,338 Other (2) 1 — 2 160 Total Sales $ 2,324 $ 2,784 $ 4,736 $ 5,498 (1) 2022 is reclassified to conform to current period presentation. (2) "Other" in first six months 2022 is sales revenue from the previously divested business. (Dollars in millions) Second Quarter First Six Months Earnings (Loss) Before Interest and Taxes by Segment 2023 2022 2023 2022 Advanced Materials $ 99 $ 141 $ 185 $ 202 Additives & Functional Products (1) 140 160 264 327 Chemical Intermediates (1) 39 142 81 254 Fibers 106 37 171 61 Total Earnings Before Interest and Taxes by Operating Segment 384 480 701 844 Other (2) Growth initiatives and businesses not allocated to operating segments (45) (53) (96) (85) Pension and other postretirement benefits income (expense), net not allocated to operating segments (4) 26 (8) 49 Asset impairments and restructuring charges, net — (1) (16) (1) Net gain (loss) on divested business and transaction costs — 5 — (1) Steam line incident (costs) insurance proceeds, net — (17) 8 (42) Other income (charges), net not allocated to operating segments (12) (14) (20) (5) Total Earnings Before Interest and Taxes $ 323 $ 426 $ 569 $ 759 (1) 2022 is reclassified to conform to current period presentation. (2) "Other" in first six months 2022 includes EBIT of $6 million from the previously divested business.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES Recently Issued Accounting Standards (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Receivable Sold Under Factoring Arrangement	$ 753	$ 637	$ 1,400	$ 1,100
Supplier Finance Program, Obligation	55		55		$ 98
Unrealized gain (loss) during period	$ (7)	$ 36	$ (16)	$ 89

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
At FIFO or average cost (approximates current cost) [Abstract]
Finished goods	$ 1,406	$ 1,347
Work in process	301	297
Raw materials and supplies	721	743
Total inventories at FIFO or average cost	2,428	2,387
Less: LIFO reserve	468	493
Total inventories	$ 1,960	$ 1,894
Inventories valued on the LIFO method	50%	50%

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill	$ 3,697	$ 3,664
Goodwill, Transfers	0
Goodwill, Acquired During Period	30
Goodwill, Foreign Currency Translation Gain (Loss)	3
Advanced Materials [Member]
Goodwill [Line Items]
Goodwill	1,324	1,296
Goodwill, Transfers	0
Goodwill, Acquired During Period	30
Goodwill, Foreign Currency Translation Gain (Loss)	(2)
Additives And Functional Products [Member]
Goodwill [Line Items]
Goodwill	2,172	1,601
Goodwill, Transfers	569
Goodwill, Acquired During Period	0
Goodwill, Foreign Currency Translation Gain (Loss)	2
Goodwill, Impaired, Accumulated Impairment Loss	106	106
Chemical Intermediates [Member]
Goodwill [Line Items]
Goodwill	191	757
Goodwill, Transfers	(569)
Goodwill, Acquired During Period	0
Goodwill, Foreign Currency Translation Gain (Loss)	3
Goodwill, Impaired, Accumulated Impairment Loss	12	12
Other Segments
Goodwill [Line Items]
Goodwill	10	10
Goodwill, Transfers	0
Goodwill, Acquired During Period	0
Goodwill, Foreign Currency Translation Gain (Loss)	0
Goodwill, Impaired, Accumulated Impairment Loss	$ 14	$ 14

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Examination [Line Items]
(Benefit from) provision for income taxes	$ (3)	$ 124	$ 57	$ 175
Effective Income Tax Rate Reconciliation, Percent	(1.00%)	33%	12%	26%
Unrecognized Tax Benefits	$ 239		$ 239		$ 235
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	55		55
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount			23
State and Local Jurisdiction
Income Tax Examination [Line Items]
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$ (51)		$ (51)

BORROWINGS Part 1 (Details) Sch

BORROWINGS Part 1 (Details) Schedule of Long-term Debt Instruments - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total Borrowings	$ 5,437	$ 5,437	$ 5,151
Borrowings due within one year	844	844	1,126
Long-term borrowings	4,593	4,593	4,025
1.5% notes due May 2023 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 0	$ 0	800
Debt Instrument, Interest Rate, Stated Percentage	1.50%	1.50%
Debt Instrument, Maturity Date		May 2023
7 1/4% debentures due January 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 198	$ 198	198
Debt Instrument, Interest Rate, Stated Percentage	7.25%	7.25%
Debt Instrument, Maturity Date		January 2024
Notes Due June 2024
Debt Instrument [Line Items]
Long-term Debt	$ 43	$ 43	43
Debt Instrument, Interest Rate, Stated Percentage	7.625%	7.625%
Debt Instrument, Maturity Date		June 2024
3.8% notes due March 2025 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 694	$ 694	693
Debt Instrument, Interest Rate, Stated Percentage	3.80%	3.80%
Debt Instrument, Maturity Date		March 2025
1.875% notes due November 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 542	$ 542	530
Debt Instrument, Interest Rate, Stated Percentage	1.875%	1.875%
Debt Instrument, Maturity Date		November 2026
7.60% debentures due February 2027 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 196	$ 196	196
Debt Instrument, Interest Rate, Stated Percentage	7.60%	7.60%
Debt Instrument, Maturity Date		February 2027
4.5% Notes Due Dec 2028 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 495	$ 495	495
Debt Instrument, Interest Rate, Stated Percentage	4.50%	4.50%
Debt Instrument, Maturity Date		December 2028
5.75% Notes Due March 2033
Debt Instrument [Line Items]
Long-term Debt	$ 496	$ 496	0
Debt Instrument, Interest Rate, Stated Percentage	5.75%	5.75%
Debt Instrument, Maturity Date		March 2033
4.8% notes due September 2042 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 494	$ 494	494
Debt Instrument, Interest Rate, Stated Percentage	4.80%	4.80%
Debt Instrument, Maturity Date		September 2042
4.65% notes due October 2044 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 877	$ 877	877
Debt Instrument, Interest Rate, Stated Percentage	4.65%	4.65%
Debt Instrument, Maturity Date		October 2044
2024 Term Loan
Debt Instrument [Line Items]
Long-term Debt	$ 300	$ 300	0
2027 Term Loan
Debt Instrument [Line Items]
Long-term Debt	499	499	499
Commercial paper and short-term borrowings [Member]
Debt Instrument [Line Items]
Borrowings due within one year	603	$ 603	$ 326
1.50% notes due May 2023
Debt Instrument [Line Items]
Repayments of Debt	$ 808

BORROWINGS Part 2 (Details) Cre

BORROWINGS Part 2 (Details) Credit Facility and Commercial Paper Borrowings - USD ($) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Credit Facilities [Abstract]
Borrowings due within one year		$ 844		$ 1,126
Proceeds from borrowings		$ 796	$ 500
Commercial Paper, Average Rate Paid		5.45%		4.85%
2027 Term Loan
Credit Facilities [Abstract]
Long-term Debt		$ 499		$ 499
Proceeds from borrowings				$ 500
Debt, Weighted Average Interest Rate		6.32%		5.55%
Commercial paper and short-term borrowings [Member]
Credit Facilities [Abstract]
Borrowings due within one year		$ 603		$ 326
2024 Term Loan
Credit Facilities [Abstract]
Long-term Debt		$ 300		0
Debt, Weighted Average Interest Rate		6.37%
Proceeds from Issuance of Debt	$ 300
5.75% Notes Due March 2033
Credit Facilities [Abstract]
Long-term Debt		$ 496		0
Proceeds from borrowings	$ 500
Revolving Credit Facility [Member]
Credit Facilities [Abstract]
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	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 5,200	$ 4,900
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
Fair Value, Inputs, Level 1
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) € in Millions, ¥ in Millions, MMBTU in Millions, $ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2023 USD ($)

Jun. 30, 2022 USD ($)

Jun. 30, 2023 EUR (€) MMBTU

Jun. 30, 2023 USD ($)

Jun. 30, 2022 USD ($)

Dec. 31, 2022 EUR (€) MMBTU

Dec. 31, 2022 USD ($)

Jun. 30, 2023 USD ($) MMBTU

Jun. 30, 2023 JPY (¥) MMBTU

Dec. 31, 2022 USD ($) MMBTU

Dec. 31, 2022 JPY (¥) MMBTU

Dec. 31, 2021 USD ($)

Derivative [Line Items]

Unrealized Gains (Losses) on Derivative Instruments

$ (19)

$ (6)

$ (3)

Unrealized gain (loss) during period

$ (7)

$ 36

$ (16)

$ 89

Foreign Exchange Contract [Member] | Euro Member Countries, Euro | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]

Derivative [Line Items]

Derivative, Notional Amount | €

€ 470

€ 573

Energy Related Derivative [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]

Derivative [Line Items]

Derivative, Nonmonetary Notional Amount | MMBTU

16

3

16

16

3

3

Interest Rate Contract [Member] | Designated as Hedging Instrument [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 | Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]

Derivative [Line Items]

Notional Amount of Nonderivative Instruments

€ 498

$ 542

€ 1,247

$ 1,300

3.8% notes due March 2025 [Member] | Cross Currency Interest Rate Contract [Member] | United States of America, Dollars | Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]

Derivative [Line Items]

Derivative, Notional Amount

50

3.8% notes due March 2025 [Member] | Cross Currency Interest Rate Contract [Member] | Japan, Yen | Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]

Derivative [Line Items]

Derivative, Notional Amount | ¥

¥ 6,700

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 | Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]

Derivative [Line Items]

Derivative, Notional Amount | €

870

€ 587

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] | Japan, Yen | Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]

Derivative [Line Items]

Derivative, Notional Amount | ¥

¥ 6,723

¥ 0

5.75% Notes Due March 2033 | Cross Currency Interest Rate Contract [Member] | Euro Member Countries, Euro | Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]

Derivative [Line Items]

Derivative, Notional Amount | €

€ 283

5.75% Notes Due March 2033 | Cross Currency Interest Rate Contract [Member] | United States of America, Dollars | Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]

Derivative [Line Items]

Derivative, Notional Amount

$ 300

DERIVATIVE AND NON-DERIVATIVE_4

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS Part 2 (Details) € in Millions, $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Derivative Assets [Abstract]
Derivative Asset, Fair Value, Gross Asset		$ 57		$ 76
Derivative Liabilities [Abstract]
Derivative Liability, Fair Value, Gross Liability		44		20
Derivative, Fair Value, Net		13		56
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		1		3
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		6		3
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		9		8
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		4		4
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
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		5		5
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Derivative Assets [Abstract]
Derivative Asset, Fair Value, Gross Asset		0		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 Noncurrent Assets [Member]
Derivative Assets [Abstract]
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value		56		72
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		20		0
Net Investment Hedging [Member] | Euro Member Countries, Euro | 1.50% Notes Due 2023 and 1.875% Notes Due 2026 [Member] | Designated as Hedging Instrument [Member]
Non-Derivatives, Carrying Value [Abstract]
Notional Amount of Nonderivative Instruments	€ 498	$ 542	€ 1,247	$ 1,300
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Long-term Debt
Derivative Liabilities [Abstract]
Hedged Liability, Statement of Financial Position [Extensible Enumeration]		Long-term borrowings		Long-term borrowings
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)		$ (5)		$ (5)

DERIVATIVE AND NON-DERIVATIVE_5

DERIVATIVE AND NON-DERIVATIVE FINANCIAL INSTRUMENTS Part 3 (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Sales	$ 2,324	$ 2,784	$ 4,736	$ 5,498
Cost of sales	1,740	2,114	3,623	4,278
Net interest expense	54	45	106	91
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Change in cumulative translation adjustment, before tax	(42)	16	(43)	23
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax			(13)		$ (3)
Summary of Derivative Instruments [Abstract]
Accumulated Other Comprehensive Income Loss Unrealized Gain Loss From Hedges Before Tax	58		58		$ 134
Price Risk Cash Flow Hedge Unrealized Gain to be Reclassified During Next 12 Months	(5)		(5)
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	$ (1)	$ (25)	$ (4)	$ (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 Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of sales	Cost of sales	Cost of sales	Cost of sales
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	$ (3)	$ 16	$ (10)	$ 22
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 Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Sales	Sales	Sales	Sales
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	$ 0	$ 5	$ 1	$ 10
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 Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Net interest expense	Net interest expense	Net interest expense	Net interest expense
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	$ 2	$ 1
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	(2)	(1)
Foreign Exchange [Member] | Net Investment Hedging [Member]
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Change in cumulative translation adjustment, before tax	4	91	(23)	119
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(1)	(6)	(6)	(6)
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member]
Other Comprehensive Income (Loss), Derivatives and Non-derivatives Qualifying as Hedges, before Tax [Abstract]
Change in cumulative translation adjustment, before tax	(3)	52	(20)	75
AOCI, Derivative Qualifying as Hedge, Excluded Component	$ (18)	$ 5	$ (17)	$ (5)

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Postretirement Benefits Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	6	3	13	7
Expected return on assets	(1)	(1)	(2)	(2)
Prior service credit, net	(6)	(8)	(13)	(16)
Mark-to-market pension and other postretirement benefits (gain) loss (1)	0	0	0	0
Net periodic benefit (credit) cost	(1)	(6)	(2)	(11)
Foreign Plan [Member] | Pension Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	2	3	4	7
Interest cost	7	4	14	8
Expected return on assets	(7)	(8)	(13)	(17)
Prior service credit, net	0	0	0	0
Mark-to-market pension and other postretirement benefits (gain) loss (1)	0	(10)	0	(10)
Net periodic benefit (credit) cost	2	(11)	5	(12)
Foreign Plan [Member] | Pension Plan [Member] | Adhesives Resins Disposal Group
Components of net periodic benefit cost [Abstract]
Mark-to-market pension and other postretirement benefits (gain) loss (1)		(3)		(3)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment		7		7
UNITED STATES | Pension Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	5	6	11	12
Interest cost	20	11	39	22
Expected return on assets	(22)	(32)	(44)	(64)
Prior service credit, net	0	0	0	0
Mark-to-market pension and other postretirement benefits (gain) loss (1)	0	7	0	7
Net periodic benefit (credit) cost	$ 3	$ (8)	$ 6	$ (23)

ENVIRONMENTAL MATTERS AND ASS_3

ENVIRONMENTAL MATTERS AND ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning of period	$ 274
End of period	290	$ 274
Accrual for Environmental Loss Contingencies, Balance Sheet Classification [Abstract]
Accrued Environmental Loss Contingencies, Current	10	10
Accrued Environmental Loss Contingencies, Noncurrent	280	264
Environmental Remediation [Member]
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning of period	245	253
Changes in estimates recognized in earnings and other	18	6
Cash reductions	(5)	(14)
End of period	$ 258	245
Expected Payment Period of Environmental Contingencies	approximately 30 years
Environmental Remediation [Member] | Minimum [Member]
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 258	245
Environmental Remediation [Member] | Maximum [Member]
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	500	457
Environmental ARO [Member]
Site Contingency [Line Items]
Best Estimate Accrued to-date For Asset Retirement Obligation	32	29
Non Environmental ARO [Member]
Site Contingency [Line Items]
Best Estimate Accrued to-date For Asset Retirement Obligation	$ 52	$ 51

STOCKHOLDERS' EQUITY Part 1 (De

STOCKHOLDERS' EQUITY Part 1 (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Dividends, Per Share	$ 0.79	$ 0.76	$ 1.58	$ 1.52
Stockholders' Equity Attributable to Parent	$ 5,281		$ 5,281		$ 5,153
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	5,352	$ 5,407	5,352	$ 5,407	5,236	$ 5,262	$ 5,977	$ 5,788
Net earnings attributable to Eastman	272	256	406	491
Net earnings attributable to noncontrolling interest	0	1	0	2
Net earnings including noncontrolling interest	272	257	406	493
Cash dividends declared	(95)	(93)	(189)	(191)
Other Comprehensive Income (Loss)	(51)	2	(66)	39	(23)
Share-based Compensation Expense	17	17	39	42
Stock Option Exercises		1	2	9
Other	(1)	(2)	(12)	(21)
Share Repurchases	(50)	(752)	(50)	(752)
Distributions to Noncontrolling Interest	(2)		(14)
Common Stock [Member]
Stockholders' Equity Attributable to Parent	2	2	2	2	2	2	2	2
Net earnings attributable to Eastman	0	0	0	0
Cash dividends declared	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Share-based Compensation Expense	0	0	0	0
Stock Option Exercises		0	0	0
Other	0	0	0	0
Share Repurchases	0	0	0	0
Distributions to Noncontrolling Interest	0		0
Additional Paid-in Capital [Member]
Stockholders' Equity Attributable to Parent	2,342	2,179	2,342	2,179	2,315	2,325	2,262	2,187
Net earnings attributable to Eastman	0	0	0	0
Cash dividends declared	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Share-based Compensation Expense	17	17	39	42
Stock Option Exercises		1	2	9
Other	0	(1)	(14)	(19)
Share Repurchases	0	(100)	0	(40)
Distributions to Noncontrolling Interest	0		0
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent	9,190	8,857	9,190	8,857	8,973	9,013	8,694	8,557
Net earnings attributable to Eastman	272	256	406	491
Cash dividends declared	(95)	(93)	(189)	(191)
Other Comprehensive Income (Loss)	0	0	0	0
Share-based Compensation Expense	0	0	0	0
Stock Option Exercises		0	0	0
Other	0	0	0	0
Share Repurchases	0	0	0	0
Distributions to Noncontrolling Interest	0		0
Accumulated Other Comprehensive Income (Loss) [Member]
Stockholders' Equity Attributable to Parent	(271)	(143)	(271)	(143)	(205)	(220)	(145)	(182)
Net earnings attributable to Eastman	0	0	0	0
Cash dividends declared	0	0	0	0
Other Comprehensive Income (Loss)	(51)	2	(66)	39
Share-based Compensation Expense	0	0	0	0
Stock Option Exercises		0	0	0
Other	0	0	0	0
Share Repurchases	0	0	0	0
Distributions to Noncontrolling Interest	0		0
Treasury Stock, Common
Stockholders' Equity Attributable to Parent	(5,982)	(5,572)	(5,982)	(5,572)	(5,932)	(5,932)	(4,920)	(4,860)
Net earnings attributable to Eastman	0	0	0	0
Cash dividends declared	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Share-based Compensation Expense	0	0	0	0
Stock Option Exercises		0	0	0
Other	0	0	0	0
Share Repurchases	(50)	(652)	(50)	(712)
Distributions to Noncontrolling Interest	0		0
Parent [Member]
Stockholders' Equity Attributable to Parent	5,281	5,323	5,281	5,323	5,153	5,188	5,893	5,704
Net earnings attributable to Eastman	272	256	406	491
Cash dividends declared	(95)	(93)	(189)	(191)
Other Comprehensive Income (Loss)	(51)	2	(66)	39
Share-based Compensation Expense	17	17	39	42
Stock Option Exercises		1	2	9
Other	0	(1)	(14)	(19)
Share Repurchases	(50)	(752)	(50)	(752)
Distributions to Noncontrolling Interest	0		0
Noncontrolling Interest [Member]
Stockholders' Equity Attributable to Parent	71	84	71	84	$ 83	$ 74	$ 84	$ 84
Net earnings attributable to noncontrolling interest	0	1	0	2
Cash dividends declared	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Share-based Compensation Expense	0	0	0	0
Stock Option Exercises		0	0	0
Other	(1)	(1)	2	(2)
Share Repurchases	0	$ 0	0	$ 0
Distributions to Noncontrolling Interest	$ (2)		$ (14)

STOCKHOLDERS' EQUITY Part 2 AOC

STOCKHOLDERS' EQUITY Part 2 AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative Translation Adjustment	$ (273)		$ (273)		$ (230)	$ (237)
Change in cumulative translation adjustment	(42)	$ 16	(43)	$ 23	7
Benefit Plans Unrecognized Prior Service Credits	22		22		32	59
Change in Benefit Plans Unrecognized Prior Service Credits			(10)		(27)
Unrealized Gains (Losses) on Derivative Instruments	(19)		(19)		(6)	(3)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax			(13)		(3)
Unrealized Losses on Investments	(1)		(1)		(1)	(1)
Change in Unrealized Losses on Investments			0		0
Accumulated Other Comprehensive Income (Loss), Net of Tax	(271)		(271)		(205)	$ (182)
Other Comprehensive Income (Loss)	$ (51)	$ 2	$ (66)	$ 39	$ (23)

STOCKHOLDERS' EQUITY Part 3 OCI

STOCKHOLDERS' EQUITY Part 3 OCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Other Comprehensive Income (Loss), before Tax [Abstract]
Change in cumulative translation adjustment, before tax	$ (42)	$ 16	$ (43)	$ 23
Amortization of unrecognized prior service credits	(6)	(12)	(13)	(20)
Unrealized gain (loss) during period	(7)	36	(16)	89
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	2	(43)	(1)	(48)
Total other comprehensive income (loss), before tax	(53)	(3)	(73)	44
Other comprehensive income (loss), net of tax:
Change in cumulative translation adjustment	(42)	16	(43)	23	$ 7
Amortization of unrecognized prior service credits	(5)	(9)	(10)	(15)
Unrealized gain (loss) during period	(5)	27	(12)	67
Reclassification adjustment for (gains) losses included in net income, net	1	(32)	(1)	(36)
Other Comprehensive Income (Loss)	$ (51)	$ 2	$ (66)	$ 39	$ (23)

EARNINGS AND DIVIDENDS PER SH_3

EARNINGS AND DIVIDENDS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net earnings attributable to Eastman	$ 272	$ 256	$ 406	$ 491
Weighted average shares used for basic EPS (in shares)	118,800,000	124,800,000	118,900,000	126,900,000
Dilutive effect of stock options and other awards	800,000	1,600,000	700,000	1,700,000
Weighted average shares used for diluted EPS (in shares)	119,600,000	126,400,000	119,600,000	128,600,000
Earnings Per Share, Basic	$ 2.28	$ 2.05	$ 3.41	$ 3.87
Earnings Per Share, Diluted	$ 2.27	$ 2.03	$ 3.39	$ 3.82
Underlying options excluded from the computation of diluted earnings per share (in shares)	2,411,015	1,342,328	1,941,051	507,692
Shares repurchased (in shares)	621,711	6,118,034	621,711	6,666,069
Cash dividends declared (per share)	$ 0.79	$ 0.76	$ 1.58	$ 1.52

ASSETS IMPAIRMENTS AND RESTRU_3

ASSETS IMPAIRMENTS AND RESTRUCTURING (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 0	$ 3	$ 16	$ 3
Business Exit Costs	0	1	6	3
Restructuring, Settlement and Impairment Provisions	0	19	22	21
Restructuring Charge [Roll Forward]
Balance at Beginning of Period			52	17	$ 17
Provision / Adjustments			22		52
Restructuring Reserve, Accrual Adjustment			0		1
Cash Reductions			(52)		(18)
Balance at End of Period	22		22		52
Impairment of Long-Lived Assets to be Disposed of	0	15	0	15
Facility Closing [Member]
Restructuring Charge [Roll Forward]
Balance at Beginning of Period			18	5	5
Provision / Adjustments			6		21
Restructuring Reserve, Accrual Adjustment			0		1
Cash Reductions			(23)		(9)
Balance at End of Period	1		1		18
Employee Severance [Member]
Restructuring Charge [Roll Forward]
Balance at Beginning of Period			34	12	12
Provision / Adjustments			16		31
Restructuring Reserve, Accrual Adjustment			0		0
Cash Reductions			(29)		(9)
Balance at End of Period	$ 21		21		$ 34
Site Closure Singapore 2019 [Member] | Chemical Intermediates [Member]
Restructuring Cost and Reserve [Line Items]
Business Exit Costs		1		2
Site Closure Advanced Interlayers North America 2020 | Advanced Materials [Member]
Restructuring Cost and Reserve [Line Items]
Business Exit Costs				1
Restructuring Charge [Roll Forward]
Other Asset Impairment Charges		16		16
Site Closure Acetate Yarn Europe | Fibers [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Accelerated Depreciation			$ 23
Corporate Cost Actions 2020 | Corporate Segment
Restructuring Cost and Reserve [Line Items]
Severance Costs		2		2
Site Closure North America 2020 [Member] | Advanced Materials [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs		1		1
Site Closure Asia Pacific Tire Additives [Member] | Corporate and Other
Restructuring Charge [Roll Forward]
Other Asset Impairment Charges		$ (1)		$ (1)

Share Based Compensation Awar_2

Share Based Compensation Awards (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Expense	$ 17	$ 17	$ 39	$ 42
Share-based Payment Arrangement, Expense, after Tax	$ 13	$ 13	$ 29	$ 32

SEGMENT AND REGIONAL SALES IN_3

SEGMENT AND REGIONAL SALES INFORMATION (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Segment	Jun. 30, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments | Segment			4
Sales [Abstract]
Sales	$ 2,324	$ 2,784	$ 4,736	$ 5,498
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	323	426	569	759
Operating Segments [Member]
Sales [Abstract]
Sales	2,323	2,784	4,734	5,338
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	384	480	701	844
Corporate, Non-Segment [Member]
Sales [Abstract]
Sales	1	0	2	160
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	(45)	(53)	(96)	(85)
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	(4)	26	(8)	49
Corporate, Non-Segment [Member] | Other Nonoperating Income (Expense) [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	(12)	(14)	(20)	(5)
Corporate, Non-Segment [Member] | Transaction costs and Gain/Loss on Business
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	0	5	0	(1)
Corporate, Non-Segment [Member] | Steam Line Incident
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	0	(17)	8	(42)
Corporate, Non-Segment [Member] | Asset impairments and restructuring charges, net
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	0	(1)	(16)	(1)
Corporate, Non-Segment [Member] | Divested businesses
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes				6
Additives And Functional Products [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	140	160	264	327
Additives And Functional Products [Member] | Operating Segments [Member]
Sales [Abstract]
Sales	747	924	1,524	1,813
Advanced Materials [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	99	141	185	202
Advanced Materials [Member] | Operating Segments [Member]
Sales [Abstract]
Sales	739	846	1,481	1,583
Chemical Intermediates [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	39	142	81	254
Chemical Intermediates [Member] | Operating Segments [Member]
Sales [Abstract]
Sales	514	772	1,103	1,487
Fibers [Member]
Earnings (Loss) Before Interest and Taxes [Abstract]
Earnings before interest and taxes	106	37	171	61
Fibers [Member] | Operating Segments [Member]
Sales [Abstract]
Sales	$ 323	$ 242	$ 626	$ 455