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136
Operating Segment Information Electronic
and
Functional
Materials
Coatings
and
Infra-
structure
Solutions
Ag
Sciences
Perf
Materials
Perf
Plastics
Feed-
stocks
and
Energy Corp TotalIn millions
2013
Sales to external customers $ 4,591 $ 7,132 $ 7,137 $ 13,415 $14,645 $ 9,854 $ 306 $57,080
Intersegment revenues (1) — — — 97 — 40 (137) —
Equity in earnings (losses) of nonconsolidated affiliates 112 121 6 (64) 359 539 (39) 1,034
Restructuring charges (credits) (2) — (1) — (15) (6) — — (22)
EBITDA (3) 1,040 832 969 1,436 4,549 858 861 10,545
Total assets 11,067 11,438 7,058 9,850 10,920 5,772 13,396 69,501
Investment in nonconsolidated affiliates 579 1,140 88 100 1,289 224 1,081 4,501
Depreciation and amortization 425 466 189 666 707 128 100 2,681
Capital expenditures 139 181 319 159 332 1,172 — 2,302
2012
Sales to external customers $ 4,481 $ 6,898 $ 6,382 $ 13,608 $14,479 $ 10,695 $ 243 $56,786
Intersegment revenues (1) — — — 107 — 43 (150) —
Equity in earnings (losses) of nonconsolidated affiliates 94 50 1 (92) 134 452 (103) 536
Goodwill impairment loss (4) — — — 220 — — — 220
Restructuring charges (credits) (2) 65 53 — 378 26 7 814 1,343
EBITDA (3) 958 823 977 1,036 3,018 718 (1,939) 5,591
Total assets 11,448 11,630 6,367 11,073 11,193 5,276 12,618 69,605
Investment in nonconsolidated affiliates 462 1,041 86 167 1,264 128 973 4,121
Depreciation and amortization 420 476 176 703 673 141 109 2,698
Capital expenditures 268 269 316 287 264 1,163 47 2,614
2011
Sales to external customers $ 4,599 $ 7,200 $ 5,655 $ 14,647 $16,257 $ 11,302 $ 325 $59,985
Intersegment revenues (1) — — — 91 — 23 (114) —
Equity in earnings (losses) of nonconsolidated affiliates 104 321 4 (31) 303 561 (39) 1,223
Acquisition-related integration expenses (5) — — — — — — 31 31
EBITDA (3) 1,084 1,167 913 1,748 3,440 940 (1,507) 7,785
Total assets 11,386 11,935 5,746 10,936 11,583 5,116 12,522 69,224
Investment in nonconsolidated affiliates 350 1,104 50 198 1,376 127 200 3,405
Depreciation and amortization 439 548 167 635 754 212 128 2,883
Capital expenditures 247 365 352 567 251 886 19 2,687
(1) Includes revenues generated by transfers of product to Agricultural Sciences from other segments, generally at market-based prices. Other transfers
of products between operating segments are generally valued at cost.
(2) See Note 3 for information regarding restructuring charges.
(3) A reconciliation of EBITDA to “Income Before Income Taxes” is provided below.
(4) See Note 9 for information regarding the goodwill impairment loss.
(5) See Note 4 for information regarding acquisition-related integration expenses.
Reconciliation of EBITDA to “Income Before Income Taxes”
In millions 2013 2012 2011
EBITDA $ 10,545 $ 5,591 $ 7,785
- Depreciation and amortization 2,681 2,698 2,883
+ Interest income 41 41 40
- Interest expense and amortization of debt discount 1,101 1,269 1,341
Income Before Income Taxes $ 6,804 $ 1,665 $ 3,601