Element Solutions Inc

For the period ended Dec 31, 2023. Filed Feb 21, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 21, 2024

ESI$32.75-0.6%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Changes in Stockholders’ Equity F-

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

Common Stock · Additional Paid-in Capital · Treasury Stock · Accumulated Deficit · Accumulated Other Comprehensive (Loss) Income · Total Stockholders' Equity · Non- controlling Interests · Total Equity
Shares · Amount · Shares · Amount
Balance at December 31, 2022	265,062,533	$2.7	$4,185.9		24,272,748		$(334.2)		$(1,223.8)		$(298.1)		$2,332.5		$16.6		$2,349.1
Net income	—	—	—		—		—		118.1		—		118.1		0.1		118.2
Other comprehensive loss, net of taxes	—	—	—		—		—		—		(47.8)		(47.8)		(0.6)		(48.4)
Issuance of common stock under Employee Stock Purchase Plan	78,375	—	1.3		—		—		—		—		1.3		—		1.3
Dividends ($0.32 per share)	—	—	—		—		—		(77.6)		—		(77.6)			(77.6)
Equity compensation expense	—	—	9.7		—		—		—		—		9.7		—		9.7
Exercise/ vesting of stock-based compensation	1,038,192	—		372,007		(7.7)		—		—		(7.7)		—		(7.7)
Changes in non-controlling interests	—	—	—		—		—		—		—		—		(0.3)		(0.3)
Balance at December 31, 2023	266,179,100	$2.7	$4,196.9		24,644,755		$(341.9)		$(1,183.3)		$(345.9)		$2,328.5		$15.8		$2,344.3

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (continued)

Common Stock · Additional Paid-in Capital · Treasury Stock · Accumulated Deficit · Accumulated Other Comprehensive (Loss) Income · Total Stockholders' Equity · Non- controlling Interests · Total Equity
Shares · Amount · Shares · Amount
Balance at December 31, 2021	261,937,509	$2.6	$4,166.6	15,195,525	$(159.2)	$(1,331.9)	$(197.4)	$2,480.7	$20.1	$2,500.8
Net income	—	—	—	—	—	187.2	—	187.2	0.8	188.0
Other comprehensive loss, net of taxes	—	—	—	—	—	—	(100.7)	(100.7)	(2.2)	(102.9)
Issuance of common stock under Employee Stock Purchase Plan	79,075	—	1.3	—	—	—	—	1.3	—	1.3
Repurchases of common stock	—	—	—	8,042,587	(151.0)	—	—	(151.0)	—	(151.0)
Dividends ($0.32 per share)	—	—	—	—	—	(79.1)	—	(79.1)	—	(79.1)
Equity compensation expense	—	—	18.1	—	—	—	—	18.1	—	18.1
Exercise/ vesting of stock-based compensation	3,045,949	0.1	—	1,034,636	(24.0)	—	—	(23.9)	—	(23.9)
Changes in non-controlling interests	—	—	(0.1)	—	—	—	—	(0.1)	(2.1)	(2.2)
Balance at December 31, 2022	265,062,533	$2.7	$4,185.9	24,272,748	$(334.2)	$(1,223.8)	$(298.1)	$2,332.5	$16.6	$2,349.1

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (continued)

Common Stock · Additional Paid-in Capital · Treasury Stock · Accumulated Deficit · Accumulated Other Comprehensive (Loss) Income · Total Stockholders' Equity · Non- controlling Interests · Total Equity
Shares · Amount · Shares · Amount
Balance at December 31, 2020	261,330,127	$2.6	$4,122.9	14,229,280	$(137.7)	$(1,473.2)	$(194.8)	$2,319.8	$(1.7)	$2,318.1
Net income	—	—	—	—	—	203.3	—	203.3	0.4	203.7
Other comprehensive loss, net of taxes	—	—	—	—	—	—	(2.6)	(2.6)	(12.6)	(15.2)
Issuance of common stock under Employee Stock Purchase Plan	72,067	—	1.2	—	—	—	—	1.2	—	1.2
Repurchases of common stock	—	—	—	864,359	(19.6)	—	—	(19.6)	—	(19.6)
Dividends ($0.25 per share)	—	—	—	—	—	(62.0)	—	(62.0)	—	(62.0)
Equity compensation expense	—	—	40.4	—	—	—	—	40.4	—	40.4
Exercise/ vesting of share based compensation	535,315	—	2.1	101,886	(1.9)	—	—	0.2	—	0.2
Acquisition of non-controlling interests	—	—	—	—	—	—	—	—	34.2	34.2
Changes in non-controlling interests	—	—	—	—	—	—	—	—	(0.2)	(0.2)
Balance at December 31, 2021	261,937,509	$2.6	$4,166.6	15,195,525	$(159.2)	$(1,331.9)	$(197.4)	$2,480.7	$20.1	$2,500.8

INDEX TO NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

		Page
Note 1	Background and Basis of Presentation	F-11
Note 2	Summary of Significant Accounting Policies	F-12
Note 3	Recent Accounting Pronouncements	F-17
Note 4	Acquisitions	F-17
Note 5	Inventories	F-18
Note 6	Property, Plant and Equipment, Net	F-18
Note 7	Goodwill and Intangible Assets	F-19
Note 8	Long-Term Compensation Plans	F-20
Note 9	Pension, Post-Retirement and Post-Employment Plans	F-22
Note 10	Income Taxes	F-27
Note 11	Debt	F-30
Note 12	Financial Instruments	F-31
Note 13	Stockholders' Equity	F-34
Note 14	Accumulated Other Comprehensive (Loss) Income	F-34
Note 15	Earnings Per Share	F-35
Note 16	Leases	F-35
Note 17	Contingencies, Environmental and Legal Matters	F-36
Note 18	Related Party Transactions	F-37
Note 19	Restructuring	F-37
Note 20	Other (Expense) Income, Net	F-37
Note 21	Accrued Expenses and Other Current Liabilities	F-38
Note 22	Segment Information	F-38

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