Celanese Corp
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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23. Earnings (Loss) Per Share
- Earnings (Loss) Per Share
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In $ millions, except share data) | |||
| Amounts attributable to Celanese Corporation | |||
| Earnings (loss) from continuing operations | (1,514) | 1,969 | 1,902 |
| Earnings (loss) from discontinued operations | (8) | (9) | (8) |
| Net earnings (loss) | (1,522) | 1,960 | 1,894 |
| Weighted average shares - basic | 109,273,779 | 108,848,962 | 108,380,082 |
| Incremental shares attributable to equity awards(1) | — | 530,702 | 855,294 |
| Weighted average shares - diluted | 109,273,779 | 109,379,664 | 109,235,376 |
(1)Excludes options to purchase 265,922,202,876 and 0 shares of Common Stock for the years ended December 31, 2024, 2023 and 2022, respectively, as their effect would have been antidilutive. Excludes 61,39,465 and 154,172 equity award shares for the years ended December 31, 2024, 2023 and 2022, respectively, as their effect would have been antidilutive. For the year ended December 31, 2024, the Company incurred a net loss from continuing operations, resulting in 239,886 incremental shares attributable to equity awards being excluded from the number of weighted average shares - diluted as their effect would have been antidilutive.
- Other (Charges) Gains, Net
| Year Ended December 31, | ||||
|---|---|---|---|---|
| 2024 · 2023 · 2022 | ||||
| (In $ millions) | ||||
| Restructuring(1) | (107) | (52) | (6) | |
| Asset impairments | (1,639) | (2) | (15) | (14) |
| Plant/office closures | 2 | (1) | 12 | |
| Total | (1,744) | (68) | (8) | |
(1)Includes employee termination benefits related to the previously announced closure of the Company's facility in Mechelen, Belgium (Note 4) and the previously announced closure of its polymerization units in Uentrop, Germany (Note 4) for the year ended December 31, 2024, and employee termination benefits primarily related to Company-wide business optimization projects during the years ended December 31, 2024 and 2023.
(2)Primarily related to non-cash impairment losses on goodwill and certain trade names, primarily Zytel®, arising from the Company's goodwill and indefinite-lived intangible assets impairment tests (Note 9).
The changes in the restructuring liabilities by business segment are as follows:
| EngineeredMaterials | AcetylChain | Other | Total | |
|---|---|---|---|---|
| (In $ millions) | ||||
| Employee Termination Benefits | ||||
| As of December 31, 2023 | 13 | 2 | 3 | 18 |
| Additions | 89 | 1 | 16 | 106 |
| Cash payments | (40) | (2) | (13) | (55) |
| Other changes | (2) | (1) | — | (3) |
| Exchange rate changes | (3) | — | — | (3) |
| As of December 31, 2024 | 57 | — | 6 | 63 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.