EASTMAN CHEMICAL CO
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
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) | 2025 | 2024 | 2023 |
| Operating activities | |||
| Net earnings | $475 | $908 | $896 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 513 | 509 | 498 |
| Mark-to-market pension and other postretirement benefit plans (gain) loss, net | (6) | (54) | 53 |
| Asset impairment charges | 33 | 5 | — |
| Gain on sale of assets | — | — | (15) |
| Gain on divested businesses | — | — | (323) |
| Provision for (benefit from) deferred income taxes | 141 | (52) | (102) |
| Changes in operating assets and liabilities, net of effect of acquisitions and divestitures: | |||
| (Increase) decrease in trade receivables | 61 | 28 | 126 |
| (Increase) decrease in inventories | 24 | (344) | 201 |
| Increase (decrease) in trade payables | (76) | 188 | (190) |
| Pension and other postretirement contributions (in excess of) less than expenses | (60) | (51) | (66) |
| Variable compensation payments (in excess of) less than expenses | (22) | 99 | 142 |
| Other items, net | (113) | 51 | 154 |
| Net cash provided by operating activities | 970 | 1,287 | 1,374 |
| Investing activities | |||
| Additions to properties and equipment | (546) | (599) | (828) |
| Government incentives | 21 | 9 | — |
| Proceeds from sale of businesses | 38 | 38 | 456 |
| Acquisitions, net of cash acquired | — | — | (77) |
| Other items, net | 25 | 18 | 17 |
| Net cash used in investing activities | (462) | (534) | (432) |
| Financing activities | |||
| Net increase (decrease) in commercial paper and other borrowings | — | — | (326) |
| Proceeds from borrowings | 246 | 1,237 | 796 |
| Repayment of borrowings | (550) | (1,039) | (808) |
| Dividends paid to stockholders | (381) | (379) | (376) |
| Treasury stock purchases | (100) | (300) | (150) |
| Other items, net | (12) | 27 | (24) |
| Net cash used in financing activities | (797) | (454) | (888) |
| Effect of exchange rate changes on cash and cash equivalents | 18 | (10) | 1 |
| Net change in cash and cash equivalents | (271) | 289 | 55 |
| Cash and cash equivalents at beginning of period | 837 | 548 | 493 |
| Cash and cash equivalents at end of period | $566 | $837 | $548 |
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