Delaware | 1-815 | 51-0014090 | ||
(State or Other Jurisdiction | (Commission | (I.R.S. Employer | ||
Of Incorporation) | File Number) | Identification No.) |
Item 8.01 Other Events | ||||||||
SIGNATURE |
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Agriculture | Coatings & | Electronic & | Safety | Textiles | ||||||||||||||||||||||||||||||||
& | Color | Communication | Performance | Pharma- | & | & | ||||||||||||||||||||||||||||||
Nutrition | Technologies | Technologies | Materials | ceuticals | Protection | Interiors | Other | Total | ||||||||||||||||||||||||||||
2006 |
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Segment sales |
$ | 6,008 | $ | 6,290 | $ | 3,573 | $ | 6,179 | $ | | $ | 5,496 | N/A | $ | 180 | $ | 27,726 | |||||||||||||||||||
Less transfers |
| (49 | ) | (109 | ) | (46 | ) | | (82 | ) | N/A | (19 | ) | (305 | ) | |||||||||||||||||||||
Net sales |
6,008 | 6,241 | 3,464 | 6,133 | | 5,414 | N/A | 161 | 27,421 | |||||||||||||||||||||||||||
Pretax operating
income (loss) |
604 | 817 | 577 | 559 | 819 | 1,080 | N/A | (173 | ) | 4,283 | ||||||||||||||||||||||||||
Depreciation and
amortization |
428 | 220 | 159 | 210 | | 187 | N/A | 5 | 1,209 | |||||||||||||||||||||||||||
Equity in earnings
of affiliates |
(3 | ) | 0 | 44 | 9 | | 20 | N/A | (5 | ) | 65 | |||||||||||||||||||||||||
Segment net assets |
5,811 | 3,959 | 2,476 | 4,111 | 200 | 3,032 | N/A | 133 | 19,722 | |||||||||||||||||||||||||||
Affiliate net assets |
51 | 10 | 301 | 715 | 40 | 91 | N/A | 41 | 1,249 | |||||||||||||||||||||||||||
Expenditures for
long-lived assets |
214 | 370 | 212 | 254 | | 320 | N/A | 8 | 1,378 | |||||||||||||||||||||||||||
2005 |
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Segment sales |
$ | 6,090 | $ | 6,055 | $ | 3,408 | $ | 6,062 | $ | | $ | 5,144 | N/A | $ | 174 | $ | 26,933 | |||||||||||||||||||
Less transfers |
| (48 | ) | (99 | ) | (55 | ) | | (73 | ) | N/A | (19 | ) | (294 | ) | |||||||||||||||||||||
Net sales |
6,090 | 6,007 | 3,309 | 6,007 | | 5,071 | N/A | 155 | 26,639 | |||||||||||||||||||||||||||
Pretax operating
income (loss) |
875 | 536 | 558 | 515 | 751 | 994 | N/A | (90 | ) | 4,139 | ||||||||||||||||||||||||||
Depreciation and
amortization |
421 | 207 | 156 | 219 | | 181 | N/A | 3 | 1,187 | |||||||||||||||||||||||||||
Equity in earnings
of affiliates |
(3 | ) | 1 | 36 | 21 | | 18 | N/A | 10 | 83 | ||||||||||||||||||||||||||
Segment net assets |
5,691 | 3,567 | 2,296 | 3,940 | 169 | 2,689 | N/A | 204 | 18,556 | |||||||||||||||||||||||||||
Affiliate net assets |
41 | 5 | 283 | 756 | 43 | 84 | N/A | 58 | 1,270 | |||||||||||||||||||||||||||
Expenditures for
long-lived assets |
266 | 287 | 185 | 200 | | 266 | N/A | 4 | 1,208 | |||||||||||||||||||||||||||
2004 |
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Segment sales |
$ | 5,939 | $ | 5,839 | $ | 3,138 | $ | 5,863 | $ | | $ | 4,632 | $ | 2,319 | $ | 163 | $ | 27,893 | ||||||||||||||||||
Less transfers |
| (50 | ) | (88 | ) | (83 | ) | | (90 | ) | (211 | ) | (31 | ) | (553 | ) | ||||||||||||||||||||
Net sales |
5,939 | 5,789 | 3,050 | 5,780 | | 4,542 | 2,108 | 132 | 27,340 | |||||||||||||||||||||||||||
Pretax operating
income (loss) |
790 | 718 | 202 | 282 | 681 | 844 | (533 | ) | (249 | ) | 2,735 | |||||||||||||||||||||||||
Depreciation and
amortization |
412 | 204 | 154 | 253 | | 179 | | 2 | 1,204 | |||||||||||||||||||||||||||
Equity in earnings
of affiliates |
(5 | ) | 3 | 27 | (100 | ) | | 13 | 71 | (2 | ) | 7 | ||||||||||||||||||||||||
Segment net assets |
5,925 | 3,687 | 2,304 | 4,066 | 159 | 2,645 | 403 | 266 | 19,455 | |||||||||||||||||||||||||||
Affiliate net assets |
38 | 17 | 383 | 773 | 36 | 74 | 355 | 10 | 1,686 | |||||||||||||||||||||||||||
Expenditures for
long-lived assets |
219 | 213 | 139 | 220 | | 215 | 63 | 14 | 1,083 | |||||||||||||||||||||||||||
Pretax operating income to income before income taxes and minority interests | 2006 | 2005 | 2004 | |||||||||
Total segment PTOI |
$ | 4,283 | $ | 4,139 | $ | 2,735 | ||||||
Net exchange (losses) / gains (includes affiliates) |
(4 | ) | 445 | (411 | ) | |||||||
Corporate expenses and interest |
(950 | ) | (1,021 | ) | (882 | ) | ||||||
Income before income taxes and minority interests |
$ | 3,329 | $ | 3,563 | $ | 1,442 | ||||||
Segment net assets to total assets | 2006 | 2005 | 2004 | |||||||||
Total segment net assets |
$ | 19,722 | $ | 18,556 | $ | 19,455 | ||||||
Corporate assets 1 |
5,876 | 8,144 | 9,704 | |||||||||
Liabilities included in net assets |
6,179 | 6,591 | 6,473 | |||||||||
Total assets |
$ | 31,777 | $ | 33,291 | $ | 35,632 | ||||||
1 | Pension assets are included in corporate assets. The balance at December 31, 2006 reflects the adoption of SFAS 158. |
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Segment | Consolidated | |||||||||||
Other items | Totals | Adjustments | Totals | |||||||||
2006 |
||||||||||||
Depreciation and amortization |
$ | 1,209 | $ | 175 | $ | 1,384 | ||||||
Equity in earnings of affiliates |
65 | (15 | ) | 50 | ||||||||
Affiliate net assets |
1,249 | (446 | ) | 803 | ||||||||
Expenditures for long-lived assets |
1,378 | 154 | 1,532 | |||||||||
2005 |
||||||||||||
Depreciation and amortization |
$ | 1,187 | $ | 171 | $ | 1,358 | ||||||
Equity in earnings of affiliates |
83 | 25 | 108 | |||||||||
Affiliate net assets |
1,270 | (426 | ) | 844 | ||||||||
Expenditures for long-lived assets |
1,208 | 132 | 1,340 | |||||||||
2004 |
||||||||||||
Depreciation and amortization |
$ | 1,204 | $ | 143 | $ | 1,347 | ||||||
Equity in earnings of affiliates |
7 | (46 | ) | (39 | ) | |||||||
Affiliate net assets |
1,686 | (652 | ) | 1,034 | ||||||||
Expenditures for long-lived assets |
1,083 | 149 | 1,232 | |||||||||
Agriculture & Nutrition a, c, d, g |
$ | (48 | ) | |
Coatings & Color Technologies a ,b, c, f |
(7 | ) | ||
Electronic & Communication Technologies a, c |
5 | |||
Performance Materials a, c ,d |
(77 | ) | ||
Safety & Protection a, b, c, e |
(27 | ) | ||
Other h |
(27 | ) | ||
$ | (181 | ) | ||
a | In the fourth quarter 2006, the company changed its practice relating to cutoff for certain transactions. The impact of these changes in the fourth quarter and full year 2006 is a reduction to net sales of $107 and a net pretax charge of $58. The pretax charge amount by segment was: Agriculture & Nutrition $6; Coatings & Color Technologies $17; Electronic & Communication Technologies $5; Performance Materials $17; and Safety & Protection $13, respectively. | |
b | Includes insurance recoveries relating to the damage suffered from hurricane Katrina in 2005. Pretax amounts by segment were: Coatings & Color Technologies $123 and Safety & Protection - $20. | |
c | Includes a benefit of $61 of insurance recoveries, net of fees, which relate to asbestos litigation expenses incurred by the company in prior periods. Pretax amounts by segment for the insurance recoveries were: Agriculture & Nutrition $7; Coatings & Color Technologies $19; Electronic & Communication Technologies $10; Performance Materials $12; and Safety & Protection -$13. | |
d | Includes a restructuring charge of $194 in the following segments: Agriculture & Nutrition - $122 and Performance Materials $72. | |
e | Includes an asset impairment charge of $47 associated with an underperforming industrial chemicals asset held for sale within the Safety & Protection segment. | |
f | Includes a net restructuring charge of $132 in the Coatings & Color Technologies segment. | |
g | Includes income of $73 in the Agriculture & Nutrition segment related to technology transfers, licensing agreements and asset sales. | |
h | Includes a charge of $27 in Other to writedown certain manufacturing assets to estimated fair value. |
Coatings & Color Technologies a |
$ | (116 | ) | |
Electronic & Communication Technologies b |
48 | |||
Performance Materials a, c |
21 | |||
Safety & Protection a |
(27 | ) | ||
Other d |
62 | |||
$ | (12 | ) | ||
a | Includes charges of $160 for damaged facilities, inventory write-offs, clean-up costs and other costs related to the Hurricanes, in the following segments: Coatings & Color Technologies $116; Performance Materials $17; and Safety & Protection $27. | |
b | Reflects a gain from the sale of the companys equity interest in DuPont Photomasks, Inc. | |
c | Includes a gain of $25 resulting from the disposition of certain assets of DuPont Dow Elastomers LLC (DDE) to The Dow Chemical Company; and operating income of $47 related to certain assets that were disposed of on June 30, 2005. The gain is partly offset by a charge of $34 related to the shutdown of an U.S. manufacturing facility. | |
d | Reflects a net gain from the disposition of four equity affiliates associated with the separation of Textiles & Interiors, partly offset by other separation costs. |
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Agriculture & Nutrition a, b |
$ | (28 | ) | |
Coatings & Color Technologies a, b, c |
(96 | ) | ||
Electronic & Communication Technologies a, b, d |
(175 | ) | ||
Performance Materials a, b, e |
(341 | ) | ||
Safety & Protection a, b, f |
(70 | ) | ||
Textiles & Interiors a, g |
(657 | ) | ||
Other a, b, h |
(103 | ) | ||
$ | (1,470 | ) | ||
a | Includes a benefit of $22 which reflects changes in estimates related to 2004 and prior years restructuring programs in the following segments: Agriculture & Nutrition - $2; Coatings & Color Technologies $4; Electronic & Communication Technologies $2; Performance Materials $1; Safety & Protection $1; Textiles & Interiors $10; and Other $2. | |
b | Includes charges of $312 to provide severance benefits for approximately 2,700 employees in the following segments: Agriculture & Nutrition - $30; Coatings & Color Technologies-$64; Electronic & Communication Technologies $42; Performance Materials $51; Safety & Protection $29; and Other $96. | |
c | Includes a charge of $36 to provide for an automotive refinish litigation settlement. | |
d | Includes charges of $108 associated with the proposed settlement of the PFOA class action litigation in West Virginia; and $27 to reflect an other than temporary decline in the value of an investment security. | |
e | Includes a charge of $268 to provide for anticipated losses associated with DDE antitrust litigation matters and a charge of $23 related to the shutdown of manufacturing assets at a U.S. facility. | |
f | Includes a charge of $42 related to the impairment of certain European manufacturing assets. | |
g | Includes a charge of $667 consisting of an agreed upon reduction in sales price; settlement of working capital and other changes in estimates associated with the sale of INVISTA to Koch; an increase in the book value of net assets sold and additional separation costs; and a write-down of an equity affiliate to fair market value. | |
h | Includes a charge of $29 to write off abandoned technology and a benefit of $20 from insurance proceeds related to Benlate® litigation. |
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E. I. DU PONT DE NEMOURS AND COMPANY | ||||
(Registrant) | ||||
/s/ Barry J. Niziolek | ||||
Barry J. Niziolek | ||||
Vice President and Controller |
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