Materials › Plastics, Materials, Synth Resins And Nonvulcan Elastomers
EMN Stock Price Correlated With Eastman Chemical Co Financials
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Income Statement
Cash Flow
Balance Sheet
EMN Income Statement
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Research & Development Expense:
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Net Income:
EMN Cash Flow
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Operating Activities Net Income:
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Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
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Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
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EMN Balance Sheet
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Short-Term Investments:
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COMPANY PROFILE
SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation
The accompanying unaudited consolidated financial statements have been prepared by Eastman Chemical Company ("Eastman" or the "Company") in accordance and consistent with the accounting policies stated in the Company's 2021 Annual Report on Form 10-K , and should be read in conjunction with the consolidated financial statements in Part II, Item 8 of that report, with the exception of recently adopted accounting standards noted below. The December 31, 2021 financial position data included herein was derived from the consolidated financial statements included in the 2021 Annual Report on Form 10-K but does not include all disclosures required by accounting principles generally accepted in the United States ("GAAP").
In the opinion of management, the unaudited consolidated financial statements include all normal recurring adjustments necessary for the fair statement of the interim financial information in conformity with GAAP. These statements contain some amounts that are based upon management estimates and judgments. Future actual results could differ from such current estimates. The unaudited consolidated financial statements include assets, liabilities, sales revenue, and expenses of all majority-owned subsidiaries and joint ventures in which a controlling interest is maintained. Eastman accounts for other joint ventures and investments where it exercises significant influence on the equity basis. Intercompany transactions and balances are eliminated in consolidation. Certain prior period data has been reclassified in the unaudited consolidated financial statements and accompanying footnotes to conform to current period presentation, including sales revenue, earnings before interest and taxes ("EBIT"), and assets related to the divested rubber additives product lines and related assets and technology and the held for sale adhesives resins business. See Note 17, "Segment and Regional Sales Information" for more information.
Recently Adopted Accounting Standards
Accounting Standards Update ("ASU") 2021-05 Leases - Lessors - Certain Leases with Variable Lease Payments (Topic 842) : On January 1, 2022 Eastman adopted this update which is a part of the Financial Accounting Standards Board's ("FASB") post-implementation review of this Topic. The update provides that lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both: the lease would have been classified as a sales-type lease or a direct financing lease and the lessor would have otherwise recognized a day-one loss. The adoption does not have significant impact on the Company's financial statements and related disclosures.
ASU 2021-10 Government Assistance - Disclosures by Business Entities about Government Assistance (Topic 832) : On January 1, 2022 Eastman adopted prospectively this amendment which requires business entities that account for transactions with a government by applying a grant or contribution model by analogy (for example, a grant model within International Financial Reporting Standards) to provide annual disclosures about government assistance recorded during the period. The adoption does not have significant impact on the Company's financial statements and related disclosures.
Accounting Standards Issued But Not Adopted as of March 31, 2022
ASU 2022-01 Derivatives and Hedging (Topic 815): Fair Value Hedging –Portfolio Layer Method: The FASB issued this update in March of 2022. This ASU clarifies the guidance in ASC 8152 on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amends the guidance in ASU 2017-123 (released on August 28, 2017) that, among other things, established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renames that method the "portfolio layer" method and addresses fee
The accompanying unaudited consolidated financial statements have been prepared by Eastman Chemical Company ("Eastman" or the "Company") in accordance and consistent with the accounting policies stated in the Company's 2021 Annual Report on Form 10-K , and should be read in conjunction with the consolidated financial statements in Part II, Item 8 of that report, with the exception of recently adopted accounting standards noted below. The December 31, 2021 financial position data included herein was derived from the consolidated financial statements included in the 2021 Annual Report on Form 10-K but does not include all disclosures required by accounting principles generally accepted in the United States ("GAAP").
In the opinion of management, the unaudited consolidated financial statements include all normal recurring adjustments necessary for the fair statement of the interim financial information in conformity with GAAP. These statements contain some amounts that are based upon management estimates and judgments. Future actual results could differ from such current estimates. The unaudited consolidated financial statements include assets, liabilities, sales revenue, and expenses of all majority-owned subsidiaries and joint ventures in which a controlling interest is maintained. Eastman accounts for other joint ventures and investments where it exercises significant influence on the equity basis. Intercompany transactions and balances are eliminated in consolidation. Certain prior period data has been reclassified in the unaudited consolidated financial statements and accompanying footnotes to conform to current period presentation, including sales revenue, earnings before interest and taxes ("EBIT"), and assets related to the divested rubber additives product lines and related assets and technology and the held for sale adhesives resins business. See Note 17, "Segment and Regional Sales Information" for more information.
Recently Adopted Accounting Standards
Accounting Standards Update ("ASU") 2021-05 Leases - Lessors - Certain Leases with Variable Lease Payments (Topic 842) : On January 1, 2022 Eastman adopted this update which is a part of the Financial Accounting Standards Board's ("FASB") post-implementation review of this Topic. The update provides that lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both: the lease would have been classified as a sales-type lease or a direct financing lease and the lessor would have otherwise recognized a day-one loss. The adoption does not have significant impact on the Company's financial statements and related disclosures.
ASU 2021-10 Government Assistance - Disclosures by Business Entities about Government Assistance (Topic 832) : On January 1, 2022 Eastman adopted prospectively this amendment which requires business entities that account for transactions with a government by applying a grant or contribution model by analogy (for example, a grant model within International Financial Reporting Standards) to provide annual disclosures about government assistance recorded during the period. The adoption does not have significant impact on the Company's financial statements and related disclosures.
Accounting Standards Issued But Not Adopted as of March 31, 2022
ASU 2022-01 Derivatives and Hedging (Topic 815): Fair Value Hedging –Portfolio Layer Method: The FASB issued this update in March of 2022. This ASU clarifies the guidance in ASC 8152 on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amends the guidance in ASU 2017-123 (released on August 28, 2017) that, among other things, established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renames that method the "portfolio layer" method and addresses fee
Free historical financial statements for Eastman Chemical Co.. See how revenue, income, cash flow, and balance sheet financials have changed over 56 quarters since 2010. Compare with EMN stock chart to see long term trends.
Data imported from Eastman Chemical Co. SEC filings. Check original filings before making any investment decision.