EASTMAN CHEMICAL CO
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
EMN$65.45+0.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For years ended December 31, | |||
|---|---|---|---|
| (Dollars in millions) | 2023 | 2022 | 2021 |
| Operating activities | |||
| Net earnings | $896 | $796 | $867 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 498 | 477 | 538 |
| Mark-to-market pension and other postretirement benefit plans loss (gain), net | 53 | 19 | (267) |
| Asset impairment charges | — | — | 16 |
| Early debt extinguishment costs | — | — | 1 |
| (Gain) loss on sale of assets | (15) | 15 | — |
| (Gain) loss on divested businesses | (323) | 43 | 552 |
| Provision for (benefit from) deferred income taxes | (102) | (136) | (38) |
| Changes in operating assets and liabilities, net of effect of acquisitions and divestitures: | |||
| (Increase) decrease in trade receivables | 126 | 93 | (281) |
| (Increase) decrease in inventories | 201 | (430) | (389) |
| Increase (decrease) in trade payables | (190) | 60 | 554 |
| Pension and other postretirement contributions (in excess of) less than expenses | (66) | (149) | (185) |
| Variable compensation payments (in excess of) less than expenses | 142 | (103) | 162 |
| Other items, net | 154 | 290 | 89 |
| Net cash provided by operating activities | 1,374 | 975 | 1,619 |
| Investing activities | |||
| Additions to properties and equipment | (828) | (611) | (555) |
| Proceeds from sale of businesses | 456 | 998 | 667 |
| Acquisitions, net of cash acquired | (77) | (1) | (114) |
| Additions to capitalized software | (5) | (13) | (23) |
| Other items, net | 22 | 19 | (4) |
| Net cash (used in) provided by investing activities | (432) | 392 | (29) |
| Financing activities | |||
| Net increase (decrease) in commercial paper and other borrowings | (326) | 326 | (50) |
| Proceeds from borrowings | 796 | 500 | — |
| Repayment of borrowings | (808) | (750) | (300) |
| Dividends paid to stockholders | (376) | (381) | (375) |
| Treasury stock purchases | (150) | (1,002) | (1,000) |
| Other items, net | (24) | (14) | 35 |
| Net cash used in financing activities | (888) | (1,321) | (1,690) |
| Effect of exchange rate changes on cash and cash equivalents | 1 | (12) | (5) |
| Net change in cash and cash equivalents | 55 | 34 | (105) |
| Cash and cash equivalents at beginning of period | 493 | 459 | 564 |
| Cash and cash equivalents at end of period | $548 | $493 | $459 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.