DuPont de Nemours Inc
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
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Supplementary Information
NOTE 7 -SUPPLEMENTARY INFORMATION
| Sundry Income (Expense) - Net | |||
|---|---|---|---|
| (In millions) For the years ended December 31, | 2023 | 2022 | 2021 |
| Non-operating pension and other post-employment benefit ("OPEB") (credit) costs | $(9) | $28 | $30 |
| Interest income 1 | 155 | 50 | 12 |
| Net gain on divestiture and sales of other assets and investments 2, 3, 4 | 19 | 78 | 171 |
| Foreign exchange (losses) gains, net | (73) | 15 | (53) |
| Miscellaneous income (expenses) - net 5, 6 | 10 | 20 | (15) |
| Sundry income (expense) - net | $102 | $191 | $145 |
The year ended December 31, 2023 includes interest on cash and marketable securities at a higher interest rate than the prior years and non-cash interest income of $4 million related to the $350 million Delrin® related party note receivable. Refer to Note 4 for additional information.
The year ended December 31, 2023 primarily reflects income related to a land sale within the Water & Protection segment and gain adjustments from previously divested businesses.
The year ended December 31, 2022 primarily reflects income of $26 million related to the gain on sale of the Biomaterials business unit and income of $37 million related to the sale of a land use right within the Water & Protection segment.
The year ended December 31, 2021 primarily reflects income of $140 million related to the gain on sale of the Solamet® business unit and $28 million related to the gain on sale of assets within the Electronics & Industrial segment.
The year ended December 31, 2022 includes $13 million related to government grants.
The year ended December 31, 2021 includes an impairment charge of approximately $15 million related to an asset sale.
Cash, Cash Equivalents and Restricted Cash
At December 31, 2023, the Company had restricted cash of $411 million within “Restricted cash and cash equivalents” in the Condensed Consolidated Balance Sheets, the majority of the balance is attributable to the Water District Settlement Fund. At December 31, 2022, the Company had restricted cash of $103 million, within the “Restricted cash and cash equivalents - noncurrent”, which a majority is related to the MOU escrow account deposits. Additional information can be found in Note 16.
Accrued and Other Current Liabilities
"Accrued and other current liabilities" in the Consolidated Balance Sheets were $1,269 million at December 31, 2023 and $951 million at December 31, 2022. "Accrued and other current liabilities" at December 31, 2023 includes approximately $405 million related to a settlement agreement further discussed in Note 16. Accrued payroll, which is a component of "Accrued and other current liabilities" was $250 million at December 31, 2023 and $291 million at December 31, 2022. No other component of "Accrued and other current liabilities" was more than five percent of total current liabilities at December 31, 2023 and 2022.
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