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142
Operating Segment Information Agri-
cultural
Sciences
Consumer
Solutions
Infra-
structure
Solutions
Perf
Materials &
Chemicals
Perf
Plastics Corp TotalIn millions
2015
Sales to external customers $ 6,381 $ 4,379 $ 7,394 $ 11,973 $ 18,357 $ 294 $ 48,778
Intersegment revenues (1) — — — 24 — (24) —
Equity in earnings (losses) of nonconsolidated affiliates (15) 91 203 225 220 (50) 674
Restructuring charges (3) 16 67 26 — 12 294 415
EBITDA (5) 1,432 1,048 1,021 5,479 5,399 (1,053) 13,326
Total assets (6) 6,333 9,234 12,186 7,694 14,310 18,269 68,026
Investment in nonconsolidated affiliates 275 732 986 155 304 1,506 3,958
Depreciation and amortization 195 354 495 637 746 94 2,521
Capital expenditures 308 134 355 223 2,683 — 3,703
2014
Sales to external customers $ 7,290 $ 4,639 $ 8,429 $ 15,114 $ 22,386 $ 309 $ 58,167
Intersegment revenues (1) — — — 100 — (100) —
Equity in earnings (losses) of nonconsolidated affiliates 4 281 (6) 322 257 (23) 835
Goodwill and other intangible assets impairment loss (2) — 50 — — — — 50
Restructuring credits (3) — — — (3) — — (3)
Asbestos-related charge (4) — — — — — 78 78
EBITDA (5) 962 1,130 817 2,193 4,422 (580) 8,944
Total assets (6) 7,292 9,629 12,245 12,166 13,459 13,896 68,687
Investment in nonconsolidated affiliates 83 691 922 698 705 1,102 4,201
Depreciation and amortization 208 396 510 780 759 94 2,747
Capital expenditures 383 114 269 315 2,490 1 3,572
2013
Sales to external customers $ 7,137 $ 4,562 $ 8,339 $ 14,824 $ 21,910 $ 308 $ 57,080
Intersegment revenues (1) — — — 137 — (137) —
Equity in earnings (losses) of nonconsolidated affiliates 5 107 126 480 355 (39) 1,034
Restructuring credits (3) — — (1) (15) (6) — (22)
EBITDA (5) 894 933 941 1,913 4,503 1,361 10,545
Total assets (6) 7,059 10,171 12,844 12,071 13,788 13,469 69,402
Investment in nonconsolidated affiliates 88 541 1,178 827 772 1,095 4,501
Depreciation and amortization 189 414 528 743 707 100 2,681
Capital expenditures 319 105 198 409 1,271 — 2,302
(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 12 for information regarding intangible asset impairment losses.
(3) See Note 3 for information regarding restructuring charges and credits.
(4) See Note 15 for information regarding the asbestos-related charge.
(5) A reconciliation of EBITDA to “Income Before Income Taxes” is provided below.
(6) Presented in accordance with newly implemented ASU 2015-03. See Note 2 for additional information.
Reconciliation of EBITDA to “Income Before Income Taxes”
In millions 2015 2014 2013
EBITDA $ 13,326 $ 8,944 $ 10,545
- Depreciation and amortization 2,521 2,747 2,681
+ Interest income 71 51 41
- Interest expense and amortization of debt discount 946 983 1,101
Income Before Income Taxes $ 9,930 $ 5,265 $ 6,804