10-Q 1 dd-20240930.htm 10-Q dd-20240930
0001666700falseDecember 312024Q3http://fasb.org/us-gaap/2024#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2024#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrentxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:puredd:affiliatedd:health_conditiondd:lawsuitdd:casedd:companydd:entitydd:municipalitydd:counterpartyiso4217:EURdd:swap00016667002024-01-012024-09-3000016667002024-11-0100016667002024-07-012024-09-3000016667002023-07-012023-09-3000016667002023-01-012023-09-3000016667002024-09-3000016667002023-12-3100016667002022-12-3100016667002023-09-300001666700us-gaap:CommonStockMember2023-06-300001666700us-gaap:AdditionalPaidInCapitalMember2023-06-300001666700us-gaap:RetainedEarningsMember2023-06-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300001666700us-gaap:TreasuryStockCommonMember2023-06-300001666700us-gaap:NoncontrollingInterestMember2023-06-3000016667002023-06-300001666700us-gaap:RetainedEarningsMember2023-07-012023-09-300001666700us-gaap:NoncontrollingInterestMember2023-07-012023-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300001666700us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300001666700us-gaap:TreasuryStockCommonMember2023-07-012023-09-300001666700us-gaap:CommonStockMember2023-07-012023-09-300001666700us-gaap:CommonStockMember2023-09-300001666700us-gaap:AdditionalPaidInCapitalMember2023-09-300001666700us-gaap:RetainedEarningsMember2023-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300001666700us-gaap:TreasuryStockCommonMember2023-09-300001666700us-gaap:NoncontrollingInterestMember2023-09-300001666700us-gaap:CommonStockMember2024-06-300001666700us-gaap:AdditionalPaidInCapitalMember2024-06-300001666700us-gaap:RetainedEarningsMember2024-06-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001666700us-gaap:TreasuryStockCommonMember2024-06-300001666700us-gaap:NoncontrollingInterestMember2024-06-3000016667002024-06-300001666700us-gaap:RetainedEarningsMember2024-07-012024-09-300001666700us-gaap:NoncontrollingInterestMember2024-07-012024-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012024-09-300001666700us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300001666700us-gaap:CommonStockMember2024-09-300001666700us-gaap:AdditionalPaidInCapitalMember2024-09-300001666700us-gaap:RetainedEarningsMember2024-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300001666700us-gaap:TreasuryStockCommonMember2024-09-300001666700us-gaap:NoncontrollingInterestMember2024-09-300001666700us-gaap:CommonStockMember2022-12-310001666700us-gaap:AdditionalPaidInCapitalMember2022-12-310001666700us-gaap:RetainedEarningsMember2022-12-310001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001666700us-gaap:TreasuryStockCommonMember2022-12-310001666700us-gaap:NoncontrollingInterestMember2022-12-310001666700us-gaap:RetainedEarningsMember2023-01-012023-09-300001666700us-gaap:NoncontrollingInterestMember2023-01-012023-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-09-300001666700us-gaap:AdditionalPaidInCapitalMember2023-01-012023-09-300001666700us-gaap:TreasuryStockCommonMember2023-01-012023-09-300001666700us-gaap:CommonStockMember2023-01-012023-09-300001666700us-gaap:CommonStockMember2023-12-310001666700us-gaap:AdditionalPaidInCapitalMember2023-12-310001666700us-gaap:RetainedEarningsMember2023-12-310001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001666700us-gaap:TreasuryStockCommonMember2023-12-310001666700us-gaap:NoncontrollingInterestMember2023-12-310001666700us-gaap:RetainedEarningsMember2024-01-012024-09-300001666700us-gaap:NoncontrollingInterestMember2024-01-012024-09-300001666700us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-09-300001666700us-gaap:AdditionalPaidInCapitalMember2024-01-012024-09-300001666700us-gaap:TreasuryStockCommonMember2024-01-012024-09-300001666700dd:DonatellePlasticsLLCMember2024-07-282024-07-280001666700dd:DonatellePlasticsLLCMember2024-07-280001666700dd:DonatellePlasticsLLCMemberus-gaap:CustomerRelatedIntangibleAssetsMember2024-07-280001666700dd:DonatellePlasticsLLCMemberus-gaap:DevelopedTechnologyRightsMember2024-07-280001666700dd:DonatellePlasticsLLCMember2024-09-300001666700dd:SpectrumPlasticsGroupMember2023-08-010001666700dd:SpectrumPlasticsGroupMember2023-08-012023-08-010001666700dd:SpectrumPlasticsGroupMemberus-gaap:CustomerRelatedIntangibleAssetsMember2023-08-010001666700dd:SpectrumPlasticsGroupMemberus-gaap:DevelopedTechnologyRightsMember2023-08-010001666700dd:SpectrumPlasticsGroupMemberus-gaap:TrademarksAndTradeNamesMember2023-08-010001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:DelrinBusinessMember2023-11-012023-11-010001666700dd:DerbyGroupHoldingsLLCMember2023-11-010001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:DerbyGroupHoldingsLLCMember2023-11-012023-11-010001666700us-gaap:DiscontinuedOperationsHeldforsaleMemberdd:DelrinBusinessMember2023-07-012023-09-300001666700us-gaap:DiscontinuedOperationsHeldforsaleMemberdd:DelrinBusinessMember2023-01-012023-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:MobilityAndMaterialsBusinessesMember2024-07-012024-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:MobilityAndMaterialsBusinessesMember2023-07-012023-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:MobilityAndMaterialsBusinessesMember2024-01-012024-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:MobilityAndMaterialsBusinessesMember2023-01-012023-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:MOUActivityMember2024-07-012024-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:MOUActivityMember2023-07-012023-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:MOUActivityMember2024-01-012024-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberdd:MOUActivityMember2023-01-012023-09-300001666700us-gaap:IndemnificationGuaranteeMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2024-07-012024-09-300001666700us-gaap:IndemnificationGuaranteeMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2023-07-012023-09-300001666700us-gaap:IndemnificationGuaranteeMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2024-01-012024-09-300001666700us-gaap:IndemnificationGuaranteeMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2023-01-012023-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMember2024-07-012024-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMember2023-07-012023-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMember2024-01-012024-09-300001666700us-gaap:DiscontinuedOperationsDisposedOfBySaleMember2023-01-012023-09-300001666700dd:IndustrialSolutionsMemberdd:ElectronicsAndIndustrialSegmentMember2024-07-012024-09-300001666700dd:IndustrialSolutionsMemberdd:ElectronicsAndIndustrialSegmentMember2023-07-012023-09-300001666700dd:IndustrialSolutionsMemberdd:ElectronicsAndIndustrialSegmentMember2024-01-012024-09-300001666700dd:IndustrialSolutionsMemberdd:ElectronicsAndIndustrialSegmentMember2023-01-012023-09-300001666700dd:InterconnectSolutionsMemberdd:ElectronicsAndIndustrialSegmentMember2024-07-012024-09-300001666700dd:InterconnectSolutionsMemberdd:ElectronicsAndIndustrialSegmentMember2023-07-012023-09-300001666700dd:InterconnectSolutionsMemberdd:ElectronicsAndIndustrialSegmentMember2024-01-012024-09-300001666700dd:InterconnectSolutionsMemberdd:ElectronicsAndIndustrialSegmentMember2023-01-012023-09-300001666700dd:SemiconductorTechnologiesMemberdd:ElectronicsAndIndustrialSegmentMember2024-07-012024-09-300001666700dd:SemiconductorTechnologiesMemberdd:ElectronicsAndIndustrialSegmentMember2023-07-012023-09-300001666700dd:SemiconductorTechnologiesMemberdd:ElectronicsAndIndustrialSegmentMember2024-01-012024-09-300001666700dd:SemiconductorTechnologiesMemberdd:ElectronicsAndIndustrialSegmentMember2023-01-012023-09-300001666700dd:ElectronicsAndIndustrialSegmentMember2024-07-012024-09-300001666700dd:ElectronicsAndIndustrialSegmentMember2023-07-012023-09-300001666700dd:ElectronicsAndIndustrialSegmentMember2024-01-012024-09-300001666700dd:ElectronicsAndIndustrialSegmentMember2023-01-012023-09-300001666700dd:SafetySolutionsMemberdd:WaterAndProtectionSegmentMember2024-07-012024-09-300001666700dd:SafetySolutionsMemberdd:WaterAndProtectionSegmentMember2023-07-012023-09-300001666700dd:SafetySolutionsMemberdd:WaterAndProtectionSegmentMember2024-01-012024-09-300001666700dd:SafetySolutionsMemberdd:WaterAndProtectionSegmentMember2023-01-012023-09-300001666700dd:ShelterSolutionsMemberdd:WaterAndProtectionSegmentMember2024-07-012024-09-300001666700dd:ShelterSolutionsMemberdd:WaterAndProtectionSegmentMember2023-07-012023-09-300001666700dd:ShelterSolutionsMemberdd:WaterAndProtectionSegmentMember2024-01-012024-09-300001666700dd:ShelterSolutionsMemberdd:WaterAndProtectionSegmentMember2023-01-012023-09-300001666700dd:WaterSolutionsMemberdd:WaterAndProtectionSegmentMember2024-07-012024-09-300001666700dd:WaterSolutionsMemberdd:WaterAndProtectionSegmentMember2023-07-012023-09-300001666700dd:WaterSolutionsMemberdd:WaterAndProtectionSegmentMember2024-01-012024-09-300001666700dd:WaterSolutionsMemberdd:WaterAndProtectionSegmentMember2023-01-012023-09-300001666700dd:WaterAndProtectionSegmentMember2024-07-012024-09-300001666700dd:WaterAndProtectionSegmentMember2023-07-012023-09-300001666700dd:WaterAndProtectionSegmentMember2024-01-012024-09-300001666700dd:WaterAndProtectionSegmentMember2023-01-012023-09-300001666700us-gaap:CorporateNonSegmentMember2024-07-012024-09-300001666700us-gaap:CorporateNonSegmentMember2023-07-012023-09-300001666700us-gaap:CorporateNonSegmentMember2024-01-012024-09-300001666700us-gaap:CorporateNonSegmentMember2023-01-012023-09-300001666700dd:UnitedStatesAndCanadaMember2024-07-012024-09-300001666700dd:UnitedStatesAndCanadaMember2023-07-012023-09-300001666700dd:UnitedStatesAndCanadaMember2024-01-012024-09-300001666700dd:UnitedStatesAndCanadaMember2023-01-012023-09-300001666700us-gaap:EMEAMember2024-07-012024-09-300001666700us-gaap:EMEAMember2023-07-012023-09-300001666700us-gaap:EMEAMember2024-01-012024-09-300001666700us-gaap:EMEAMember2023-01-012023-09-300001666700srt:AsiaPacificMember2024-07-012024-09-300001666700srt:AsiaPacificMember2023-07-012023-09-300001666700srt:AsiaPacificMember2024-01-012024-09-300001666700srt:AsiaPacificMember2023-01-012023-09-300001666700srt:LatinAmericaMember2024-07-012024-09-300001666700srt:LatinAmericaMember2023-07-012023-09-300001666700srt:LatinAmericaMember2024-01-012024-09-300001666700srt:LatinAmericaMember2023-01-012023-09-300001666700country:CN2024-07-012024-09-300001666700country:CN2023-07-012023-09-300001666700country:CN2024-01-012024-09-300001666700country:CN2023-01-012023-09-300001666700dd:A20232024RestructuringProgramMember2024-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A20232024RestructuringProgramMember2024-09-300001666700dd:AssetRelatedChargesMemberdd:A20232024RestructuringProgramMember2024-09-300001666700dd:A20232024RestructuringProgramMember2024-07-012024-09-300001666700dd:A20232024RestructuringProgramMemberus-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2024-07-012024-09-300001666700dd:A20232024RestructuringProgramMemberus-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2024-01-012024-09-300001666700dd:A20232024RestructuringProgramMemberus-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2024-07-012024-09-300001666700dd:A20232024RestructuringProgramMemberus-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2024-01-012024-09-300001666700us-gaap:CorporateNonSegmentMemberdd:A20232024RestructuringProgramMember2024-07-012024-09-300001666700us-gaap:CorporateNonSegmentMemberdd:A20232024RestructuringProgramMember2024-01-012024-09-300001666700dd:A20232024RestructuringProgramMember2024-01-012024-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A20232024RestructuringProgramMember2023-12-310001666700dd:AssetRelatedChargesMemberdd:A20232024RestructuringProgramMember2023-12-310001666700dd:A20232024RestructuringProgramMember2023-12-310001666700us-gaap:EmployeeSeveranceMemberdd:A20232024RestructuringProgramMember2024-01-012024-09-300001666700dd:AssetRelatedChargesMemberdd:A20232024RestructuringProgramMember2024-01-012024-09-300001666700dd:A2022RestructuringActionsMember2024-09-300001666700us-gaap:EmployeeSeveranceMemberdd:A2022RestructuringActionsMember2024-09-300001666700dd:AssetRelatedChargesMemberdd:A2022RestructuringActionsMember2024-09-300001666700dd:A2022RestructuringActionsMember2024-07-012024-09-300001666700dd:A2022RestructuringActionsMember2023-07-012023-09-300001666700dd:A2022RestructuringActionsMember2024-01-012024-09-300001666700dd:A2022RestructuringActionsMember2023-01-012023-09-300001666700dd:A2022RestructuringActionsMember2023-12-310001666700us-gaap:InterestRateSwapMember2024-07-012024-09-300001666700us-gaap:InterestRateSwapMember2023-07-012023-09-300001666700us-gaap:InterestRateSwapMember2024-01-012024-09-300001666700us-gaap:InterestRateSwapMember2023-01-012023-09-300001666700dd:DerbyGroupHoldingsLLCMember2024-07-012024-09-300001666700dd:DerbyGroupHoldingsLLCMember2024-01-012024-09-300001666700dd:WaterDistrictSettlementFundMember2024-04-012024-06-300001666700dd:WaterDistrictSettlementFundMember2023-12-310001666700dd:WaterDistrictSettlementFundMember2024-09-300001666700us-gaap:CustomerConcentrationRiskMemberus-gaap:EquityMethodInvesteeMemberus-gaap:RevenueFromContractWithCustomerMember2024-01-012024-09-300001666700us-gaap:CustomerConcentrationRiskMemberus-gaap:EquityMethodInvesteeMemberus-gaap:RevenueFromContractWithCustomerMember2024-07-012024-09-300001666700us-gaap:CustomerConcentrationRiskMemberus-gaap:EquityMethodInvesteeMemberus-gaap:RevenueFromContractWithCustomerMember2023-07-012023-09-300001666700us-gaap:CustomerConcentrationRiskMemberus-gaap:EquityMethodInvesteeMemberus-gaap:RevenueFromContractWithCustomerMember2023-01-012023-09-300001666700us-gaap:SupplierConcentrationRiskMemberus-gaap:EquityMethodInvesteeMemberus-gaap:CostOfGoodsTotalMember2024-01-012024-09-300001666700us-gaap:SupplierConcentrationRiskMemberus-gaap:EquityMethodInvesteeMemberus-gaap:CostOfGoodsTotalMember2023-07-012023-09-300001666700us-gaap:SupplierConcentrationRiskMemberus-gaap:EquityMethodInvesteeMemberus-gaap:CostOfGoodsTotalMember2024-07-012024-09-300001666700us-gaap:SupplierConcentrationRiskMemberus-gaap:EquityMethodInvesteeMemberus-gaap:CostOfGoodsTotalMember2023-01-012023-09-300001666700dd:DerbyGroupHoldingsLLCMember2024-09-300001666700dd:DerbyGroupHoldingsLLCMember2023-12-310001666700us-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2023-12-310001666700us-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2023-12-310001666700us-gaap:CorporateNonSegmentMember2023-12-310001666700us-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2024-01-012024-09-300001666700us-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2024-01-012024-09-300001666700us-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2024-09-300001666700us-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2024-09-300001666700us-gaap:CorporateNonSegmentMember2024-09-3000016667002023-01-012023-12-310001666700dd:WaterAndProtectionSegmentMember2024-09-300001666700us-gaap:DevelopedTechnologyRightsMember2024-09-300001666700us-gaap:DevelopedTechnologyRightsMember2023-12-310001666700us-gaap:TrademarksAndTradeNamesMember2024-09-300001666700us-gaap:TrademarksAndTradeNamesMember2023-12-310001666700us-gaap:CustomerRelatedIntangibleAssetsMember2024-09-300001666700us-gaap:CustomerRelatedIntangibleAssetsMember2023-12-310001666700us-gaap:OtherIntangibleAssetsMember2024-09-300001666700us-gaap:OtherIntangibleAssetsMember2023-12-310001666700us-gaap:TrademarksAndTradeNamesMember2024-09-300001666700us-gaap:TrademarksAndTradeNamesMember2023-12-310001666700dd:A2038NotesMemberus-gaap:SeniorNotesMember2024-09-300001666700us-gaap:InterestRateSwapMember2023-12-310001666700dd:A2038NotesMemberus-gaap:SeniorNotesMember2024-06-152024-06-150001666700dd:A2038NotesMemberus-gaap:SeniorNotesMember2024-01-012024-09-300001666700dd:A364DayRevolvingCreditFacilityNewMemberus-gaap:RevolvingCreditFacilityMember2024-05-080001666700dd:A364DayRevolvingCreditFacilityNewMemberus-gaap:RevolvingCreditFacilityMember2024-05-082024-05-080001666700dd:A364DayRevolvingCreditFacilityPriorMemberus-gaap:RevolvingCreditFacilityMember2024-05-070001666700dd:A364DayRevolvingCreditFacilityPriorMemberus-gaap:RevolvingCreditFacilityMember2024-05-072024-05-070001666700dd:A364DayRevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2024-01-012024-09-300001666700dd:AccountsAndNotesReceivableOtherMember2024-09-300001666700dd:DeferredChargesAndOtherAssetsMember2024-09-300001666700dd:AccruedAndOtherCurrentLiabilitiesMember2024-09-300001666700dd:OtherNoncurrentObligationsMember2024-09-300001666700dd:AccountsAndNotesReceivableOtherMember2023-12-310001666700dd:DeferredChargesAndOtherAssetsMember2023-12-310001666700dd:AccruedAndOtherCurrentLiabilitiesMember2023-12-310001666700dd:OtherNoncurrentObligationsMember2023-12-310001666700dd:ChemoursMember2024-09-300001666700dd:DuPontAndCortevaMember2024-09-300001666700dd:DuPontMember2024-09-300001666700dd:PaymentsDueSeptember2021September2022Memberdd:DuPontAndCortevaMember2024-09-300001666700dd:PaymentsDueAnnuallyBeginningSeptember2024Memberdd:ChemoursMember2024-09-300001666700dd:PaymentsDueAnnuallyBeginningSeptember2024Memberdd:DuPontAndCortevaMember2024-09-300001666700dd:ChemoursCortevaAndDuPontMember2024-09-300001666700dd:DuPontAndCortevaMember2024-09-300001666700dd:CortevaMember2024-09-300001666700dd:MOUAgreementMemberdd:AccruedAndOtherCurrentLiabilitiesMember2024-09-300001666700dd:MOUAgreementMemberdd:AccruedAndOtherCurrentLiabilitiesMember2023-12-310001666700dd:MOUAgreementMemberdd:OtherNoncurrentObligationsMember2024-09-300001666700dd:MOUAgreementMemberdd:OtherNoncurrentObligationsMember2023-12-310001666700dd:MOUAgreementMember2024-09-300001666700dd:MOUAgreementMember2023-12-310001666700us-gaap:IndemnificationGuaranteeMemberdd:FayettevilleMemberdd:ChemoursMember2024-09-300001666700us-gaap:IndemnificationGuaranteeMemberdd:FayettevilleMemberdd:ChemoursMember2023-12-310001666700dd:WaterDistrictSettlementFundMemberus-gaap:SegmentDiscontinuedOperationsMember2024-01-012024-09-300001666700dd:PFOAMattersMemberdd:HistoricalEIDAndChemoursMemberdd:PFOAMultiDistrictLitigationMDLMember2012-01-012012-12-310001666700dd:PFOAMattersMemberdd:HistoricalEIDMemberdd:PFOAMultiDistrictLitigationMDLMember2017-01-012017-12-310001666700dd:PFOAMattersMemberdd:HistoricalEIDAndChemoursMemberdd:PFOAMultiDistrictLitigationMDLMember2017-01-012017-12-310001666700dd:PFOAMultiDistrictLitigationMDLMember2017-01-012017-12-310001666700dd:PFOAMultiDistrictLitigationMDLMemberdd:HistoricalEIDAndChemoursMember2021-12-310001666700dd:PFOAMultiDistrictLitigationMDLMemberdd:PFOAMattersMember2021-01-012021-12-310001666700dd:PFOAMattersMemberdd:EIDMemberdd:PFOAMultiDistrictLitigationMDLMember2021-01-012021-12-310001666700dd:PFOAMattersMemberdd:DuPontMemberdd:PFOAMultiDistrictLitigationMDLMember2021-01-012021-12-310001666700dd:PFOAMattersMemberdd:ChemoursMemberdd:PFOAMultiDistrictLitigationMDLMember2021-01-012021-12-310001666700dd:PFOAMultiDistrictLitigationMDLMemberdd:PFOAMattersMember2021-12-310001666700dd:PFOAMultiDistrictLitigationMDLMember2024-01-012024-09-300001666700dd:PFOAMattersMemberdd:ChemoursCortevaAndDuPontMemberdd:PFOAMultiDistrictLitigationMDLMember2023-11-012023-11-300001666700dd:PFOAMultiDistrictLitigationMDLMemberdd:PFOAMattersMember2023-11-012023-11-300001666700dd:PFOAMultiDistrictLitigationMDLMemberdd:PFOAMattersMember2024-09-300001666700dd:StateOfDelawareMember2021-07-012021-07-310001666700dd:StateOfDelawareMemberdd:DuPontMember2022-01-012022-12-310001666700dd:StateOfDelawareMemberdd:SupplementalSettlementMember2021-07-012021-07-310001666700dd:StateOfDelawareMember2024-09-300001666700dd:WaterDistrictSettlementFundMemberdd:ChemoursCortevaAndDuPontMember2023-06-302023-06-300001666700dd:WaterDistrictSettlementFundMemberdd:ChemoursCortevaAndDuPontMember2023-07-012023-09-300001666700dd:WaterDistrictSettlementFundMemberdd:ChemoursMember2024-01-012024-09-300001666700dd:WaterDistrictSettlementFundMember2024-01-012024-09-300001666700dd:WaterDistrictSettlementFundMemberdd:CortevaMember2024-01-012024-09-300001666700dd:WaterDistrictSettlementFundMemberdd:DuPontAndCortevaMember2024-01-012024-09-300001666700dd:WaterDistrictSettlementFundMember2023-07-012023-09-300001666700dd:WaterDistrictSettlementFundMember2023-01-012023-06-300001666700dd:WaterDistrictSettlementFundMember2024-02-060001666700dd:PersonalInjuryPFASExposureMember2024-01-012024-09-300001666700dd:PersonalInjuryPFASExposureMemberus-gaap:SubsequentEventMember2024-11-050001666700dd:BellwetherPersonalInjuryMember2024-09-300001666700dd:BellwetherPersonalInjuryTier2PlaintiffsMember2024-09-300001666700dd:ChemoursCortevaAndDuPontMember2021-04-012021-04-300001666700dd:RetainedAndAssumedAtDivestitureMember2024-09-300001666700dd:RetainedAndAssumedAtDivestitureMember2023-12-310001666700us-gaap:IndemnificationGuaranteeMemberdd:DowCortevaMember2024-09-300001666700us-gaap:IndemnificationGuaranteeMemberdd:DowCortevaMember2023-12-310001666700us-gaap:IndemnificationGuaranteeMemberdd:ChemoursMember2024-09-300001666700us-gaap:IndemnificationGuaranteeMemberdd:ChemoursMember2023-12-310001666700us-gaap:IndemnificationGuaranteeMemberdd:OtherEntitiesMember2024-09-300001666700us-gaap:IndemnificationGuaranteeMemberdd:OtherEntitiesMember2023-12-310001666700dd:A5BShareBuybackProgramMember2022-11-300001666700dd:A2023StockRepurchaseTransactionsMember2023-07-012023-09-300001666700dd:A2023StockRepurchaseTransactionsMember2023-09-300001666700dd:A2023StockRepurchaseTransactionsMember2024-01-012024-03-310001666700dd:A2023StockRepurchaseTransactionsMember2022-11-012024-03-310001666700dd:A2024ShareBuybackProgramMember2024-03-310001666700dd:Q12024StockRepurchaseTransactionsMember2024-01-012024-03-310001666700dd:Q12024StockRepurchaseTransactionsMember2024-04-012024-06-300001666700dd:Q12024StockRepurchaseTransactionsMember2024-01-012024-06-300001666700dd:ShareRepurchaseProgramsMember2024-07-012024-09-300001666700dd:ShareRepurchaseProgramsMember2024-01-012024-09-300001666700us-gaap:AccumulatedTranslationAdjustmentMember2022-12-310001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-310001666700us-gaap:AccumulatedTranslationAdjustmentMember2023-01-012023-09-300001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-09-300001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-01-012023-09-300001666700us-gaap:AccumulatedTranslationAdjustmentMember2023-09-300001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-09-300001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-09-300001666700us-gaap:AccumulatedTranslationAdjustmentMember2023-12-310001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-12-310001666700us-gaap:AccumulatedTranslationAdjustmentMember2024-01-012024-09-300001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-09-300001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-01-012024-09-300001666700us-gaap:AccumulatedTranslationAdjustmentMember2024-09-300001666700us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-09-300001666700us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-09-300001666700us-gaap:SegmentDiscontinuedOperationsMember2024-07-012024-09-300001666700us-gaap:SegmentDiscontinuedOperationsMember2023-07-012023-09-300001666700us-gaap:SegmentDiscontinuedOperationsMember2024-01-012024-09-300001666700us-gaap:SegmentDiscontinuedOperationsMember2023-01-012023-09-300001666700us-gaap:SegmentContinuingOperationsMember2024-07-012024-09-300001666700us-gaap:SegmentContinuingOperationsMember2023-07-012023-09-300001666700us-gaap:SegmentContinuingOperationsMember2024-01-012024-09-300001666700us-gaap:SegmentContinuingOperationsMember2023-01-012023-09-300001666700dd:DuPont2020EquityAndIncentivePlanMember2024-09-300001666700us-gaap:RestrictedStockUnitsRSUMember2024-01-012024-03-310001666700us-gaap:PerformanceSharesMember2024-01-012024-03-310001666700us-gaap:RestrictedStockUnitsRSUMember2024-04-012024-06-300001666700us-gaap:PerformanceSharesMember2024-04-012024-06-300001666700us-gaap:NetInvestmentHedgingMember2024-09-300001666700us-gaap:NetInvestmentHedgingMember2023-12-310001666700us-gaap:ForeignExchangeContractMember2024-09-300001666700us-gaap:ForeignExchangeContractMember2023-12-310001666700us-gaap:InterestRateSwapMember2024-09-300001666700us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001666700us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001666700us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001666700us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001666700us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2024-09-300001666700us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2023-12-310001666700us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2024-09-300001666700us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2023-12-310001666700us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-300001666700us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2024-07-012024-09-300001666700us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2023-07-012023-09-300001666700us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2024-01-012024-09-300001666700us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2023-01-012023-09-300001666700us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2022-06-300001666700dd:FloatingRateNoteDue2038Member2022-06-300001666700dd:FixedRateNotesDue2038Member2022-06-300001666700dd:A2038NotesMemberus-gaap:LongTermDebtMember2024-06-152024-06-150001666700dd:A2038NotesMemberus-gaap:SeniorNotesMember2024-07-012024-09-300001666700us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2024-06-300001666700dd:FloatingRateNoteDue2025Through2048Memberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2024-06-300001666700dd:FixedRateNotesDue2048Member2024-06-300001666700dd:FixedRateNotesDue2038Member2024-06-300001666700us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001666700us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001666700us-gaap:FairValueInputsLevel2Memberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001666700us-gaap:FairValueInputsLevel2Memberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001666700us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001666700us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001666700us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001666700us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001666700us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001666700us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001666700us-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2024-07-012024-09-300001666700us-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2024-07-012024-09-300001666700us-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2023-07-012023-09-300001666700us-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2023-07-012023-09-300001666700us-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2023-01-012023-09-300001666700us-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2023-01-012023-09-300001666700us-gaap:InterestRateSwapMemberus-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2024-07-012024-09-300001666700us-gaap:InterestRateSwapMemberus-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2024-07-012024-09-300001666700us-gaap:CorporateNonSegmentMemberus-gaap:InterestRateSwapMember2024-07-012024-09-300001666700us-gaap:InterestRateSwapMemberus-gaap:OperatingSegmentsMemberdd:ElectronicsAndIndustrialSegmentMember2024-01-012024-09-300001666700us-gaap:InterestRateSwapMemberus-gaap:OperatingSegmentsMemberdd:WaterAndProtectionSegmentMember2024-01-012024-09-300001666700us-gaap:CorporateNonSegmentMemberus-gaap:InterestRateSwapMember2024-01-012024-09-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 001-38196

DUPONT DE NEMOURS, INC.
(Exact name of registrant as specified in its charter)
Delaware81-1224539
State or other jurisdiction of incorporation or organization(I.R.S. Employer Identification No.)
974 Centre Road
Building 730
Wilmington
Delaware
19805
(Address of Principal Executive Offices)
(Zip Code)

(302) 295-5783
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareDDNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
                                                ☑ Yes ¨ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
                                 ☑ Yes ¨ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer☑Accelerated filer¨
Non-accelerated filer¨Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ☐ Yes ☑ No

The registrant had 417,955,411 shares of common stock, $0.01 par value, outstanding at November 1, 2024.



DuPont de Nemours, Inc.

QUARTERLY REPORT ON FORM 10-Q
For the quarterly period ended September 30, 2024

TABLE OF CONTENTS

PAGE
Item 1.
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 4.
Item 5.
Item 6.
3
DuPont de Nemours, Inc.

DuPontTM and all products, unless otherwise noted, denoted with TM, SM or ® are trademarks, service marks or registered trademarks of affiliates of DuPont de Nemours, Inc.

Overview
On May 22, 2024, DuPont announced a plan to separate the company into three distinct, publicly traded companies, ("Intended Business Separations"). Under the plan, DuPont would execute the proposed separations of its Electronics and Water businesses in a tax-free manner to its shareholders leaving DuPont to continue as a diversified industrial company following completion of the separations. DuPont expects to complete the separations within 18 to 24 months of the announcement date. The separation transactions will not require a shareholder vote and are subject to satisfaction of customary conditions, including final approval by DuPont's Board of Directors, receipt of tax opinion from counsel, the filing and effectiveness of Form 10 registration statements with the U.S. Securities and Exchange Commission, applicable regulatory approvals and satisfactory completion of financing. Please refer to the announcement and presentation materials from May 22, 2024, posted to the Investor section of www.dupont.com, for more information.

Effective as of January 1, 2024, Electronics & Industrial realigned certain product lines that comprise its business units (Industrial Solutions, Interconnect Solutions and Semiconductor Technologies) that are intended to optimize business operations across the segment leading to enhanced value for customers and cost savings. The Net Trade Revenue by Segment and Business or Major Product Line has been recast for all periods presented to reflect the new structure. The realignment did not result in changes to total Electronics and Industrial segment net sales.

On November 1, 2023, DuPont completed the divestiture of the Delrin® acetal homopolymer (H-POM) business to TJC LP, (the “Delrin® Divestiture”). The results of operations for the three months and nine months ended September 30, 2023, present the financial results of the Delrin® Divestiture as discontinued operations. Unless otherwise indicated, the discussion of results, including the financial measures further discussed below, refers only to DuPont's Continuing Operations and does not include discussion of balances or activity of the Delrin® Divestiture.


FORWARD-LOOKING STATEMENTS
This document contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target, "outlook,” “stabilization,” “confident,” “preliminary,” “initial,” and similar expressions and variations or negatives of these words. All statements, other than statements of historical fact, are forward-looking statements, including statements regarding outlook, expectations and guidance. Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements.

Forward-looking statements are not guarantees of future results. Some of the important factors that could cause DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the ability of DuPont to effect the separation transactions described above and to meet the conditions related thereto; (ii) the possibility that the separation transactions will not be completed within the anticipated time period or at all; (iii) the possibility that the separation transactions will not achieve their intended benefits; (iv) the impact of the separation transactions on DuPont’s businesses and the risk that the separations may be more difficult, time-consuming or costly than expected, including the impact on DuPont’s resources, systems, procedures and controls, diversion of management’s attention and the impact and possible disruption of existing relationships with customers, suppliers, employees and other business counterparties; (v) the possibility of disruption, including disputes, litigation or unanticipated costs, in connection with the separation transactions; (vi) the uncertainty of the expected financial performance of DuPont or the separated companies following completion of the separation transactions; (vii) negative effects of the announcement or pendency of the separation transactions on the market price of DuPont’s securities and/or on the financial performance of DuPont; (viii) the ability to achieve anticipated capital structures in connection with the separation transactions, including the future availability of credit and factors that may affect such availability; (ix) the ability to achieve anticipated credit ratings in connection with the separation transactions; (x) the ability to achieve anticipated tax treatments in connection with the separation transactions and completed and future, if any, divestitures, mergers, acquisitions and other portfolio changes and the impact of changes in relevant tax and other laws; (xi) risks and uncertainties related to the settlement agreement concerning PFAS liabilities reached June 2023 with plaintiff water utilities by Chemours, Corteva, EIDP and DuPont; (xii) risks and costs related to each of the parties respective performance
4
under and the impact of the arrangement to share future eligible PFAS costs by and between DuPont, Corteva and Chemours, including the outcome of any pending or future litigation related to PFAS or PFOA, including personal injury claims and natural resource damages claims; the extent and cost of ongoing remediation obligations and potential future remediation obligations; changes in laws and regulations applicable to PFAS chemicals; (xiii) indemnification of certain legacy liabilities; (xiv) the failure to realize expected benefits and effectively manage and achieve anticipated synergies and operational efficiencies in connection with the separation transactions and completed and future, if any, divestitures, mergers, acquisitions, and other portfolio management, productivity and infrastructure actions; (xv) the risks and uncertainties, including increased costs and the ability to obtain raw materials and meet customer needs from, among other events, pandemics and responsive actions; (xvi) timing and recovery from demand declines in consumer-facing markets, including in China; (xvii) adverse changes in worldwide economic, political, regulatory, international trade, geopolitical, capital markets and other external conditions; and other factors beyond DuPont's control, including inflation, recession, military conflicts, natural and other disasters or weather-related events, that impact the operations of the company, its customers and/or its suppliers; (xviii) the ability to offset increases in cost of inputs, including raw materials, energy and logistics; (xix) the risks associated with demand and market conditions in the semiconductor industry and associated end markets, including from continuing or expanding trade disputes or restrictions, including on exports to China of U.S.-regulated products and technology; (xx) the risks, including ability to achieve, and costs associated with DuPont’s sustainability strategy, including the actual conduct of the company’s activities and results thereof, and the development, implementation, achievement or continuation of any goal, program, policy or initiative discussed or expected; (xxi) other risks to DuPont's business and operations, including the risk of impairment; (xxii) the possibility that the Company may fail to realize the anticipated benefits of the $1 billion share repurchase program announced on February 6, 2024 and that the program may be suspended, discontinued or not completed prior to its termination on June 30, 2025; and (xxiii) other risk factors discussed in DuPont’s most recent annual report and subsequent current and periodic reports filed with the U.S. Securities and Exchange Commission. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business or supply chain disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DuPont’s consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.


5
PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
DuPont de Nemours, Inc.
Consolidated Statements of Operations

Three Months Ended
September 30,		Nine Months Ended
September 30,
In millions, except per share amounts (Unaudited)2024202320242023
Net sales$3,192 $3,058 $9,294 $9,170 
Cost of sales1,998 1,954 5,912 5,967 
Research and development expenses134 128 393 380 
Selling, general and administrative expenses387 360 1,189 1,058 
Amortization of intangibles149 155 449 448 
Restructuring and asset related charges - net21 8 68 39 
Acquisition, integration and separation costs43 9 51 15 
Equity in earnings of nonconsolidated affiliates14 11 49 40 
Sundry income (expense) - net199 55 150 112 
Interest expense87 102 282 295 
Income from continuing operations before income taxes$586 $408 $1,149 $1,120 
Provision for income taxes on continuing operations106 117 310 287 
Income from continuing operations, net of tax$480 $291 $839 $833 
(Loss) income from discontinued operations, net of tax(18)37 5 (357)
Net income$462 $328 $844 $476 
Net income attributable to noncontrolling interests8 9 23 31 
Net income available for DuPont common stockholders$454 $319 $821 $445 
Per common share data:
Earnings per common share from continuing operations - basic$1.13 $0.62 $1.95 $1.76 
(Loss) earnings per common share from discontinued operations - basic(0.04)0.08 0.01 (0.78)
Earnings per common share - basic$1.09 $0.71 $1.96 $0.97 
Earnings per common share from continuing operations - diluted$1.13 $0.62 $1.94 $1.75 
(Loss) earnings per common share from discontinued operations - diluted(0.04)0.08 0.01 (0.78)
Earnings per common share - diluted$1.08 $0.70 $1.95 $0.97 
Weighted-average common shares outstanding - basic417.9 451.7 419.5 456.5 
Weighted-average common shares outstanding - diluted419.5 453.4 420.8 457.8 
See Notes to the Consolidated Financial Statements.
6

DuPont de Nemours, Inc.
Consolidated Statements of Comprehensive Income
Three Months Ended
September 30,		Nine Months Ended
September 30,
In millions (Unaudited)2024202320242023
Net income$462 $328 $844 $476 
Other comprehensive income (loss), net of tax
Cumulative translation adjustments431 (268)59 (345)
Pension and other post-employment benefit plans(16)(3)(42)(13)
Derivative instruments(21)9 — (12)
Total other comprehensive income (loss)$394 $(262)$17 $(370)
Comprehensive income$856 $66 $861 $106 
Comprehensive income attributable to noncontrolling interests, net of tax20 5 22 18 
Comprehensive income attributable to DuPont$836 $61 $839 $88 
See Notes to the Consolidated Financial Statements.
7

DuPont de Nemours, Inc.
Condensed Consolidated Balance Sheets

In millions, except share amounts (Unaudited)September 30, 2024December 31, 2023
Assets
Current Assets
Cash and cash equivalents
$1,645 $2,392 
Restricted cash and cash equivalents6 411 
Accounts and notes receivable - net
2,363 2,370 
Inventories
2,237 2,147 
Prepaid and other current assets188 194 
Total current assets
$6,439 $7,514 
Property, plant and equipment - net of accumulated depreciation (September 30, 2024 - $5,169; December 31, 2023 - $4,841)
5,784 5,884 
Other Assets
Goodwill
16,868 16,720 
Other intangible assets
5,579 5,814 
Restricted cash and cash equivalents - noncurrent35 — 
Investments and noncurrent receivables1,120 1,071 
Deferred income tax assets
287 312 
Deferred charges and other assets
1,349 1,237 
Total other assets
$25,238 $25,154 
Total Assets$37,461 $38,552 
Liabilities and Equity
Current Liabilities
Accounts payable
1,702 1,675 
Income taxes payable
138 154 
Accrued and other current liabilities
985 1,269 
Total current liabilities
$2,825 $3,098 
Long-Term Debt7,170 7,800 
Other Noncurrent Liabilities
Deferred income tax liabilities
1,027 1,130 
Pension and other post-employment benefits - noncurrent560 565 
Other noncurrent obligations
1,222 1,234 
Total other noncurrent liabilities
$2,809 $2,929 
Total Liabilities$12,804 $13,827 
Commitments and contingent liabilities
Stockholders' Equity
Common stock (authorized 1,666,666,667 shares of $0.01 par value each; issued 2024: 417,891,872 shares; 2023: 430,110,140 shares)
4 4 
Additional paid-in capital
48,059 48,059 
Accumulated deficit(22,959)(22,874)
Accumulated other comprehensive loss(892)(910)
Total DuPont stockholders' equity
$24,212 $24,279 
Noncontrolling interests
445 446 
Total equity
$24,657 $24,725 
Total Liabilities and Equity$37,461 $38,552 
See Notes to the Consolidated Financial Statements.
8

DuPont de Nemours, Inc.
Consolidated Statements of Cash Flows
Nine Months Ended September 30,
In millions (Unaudited)20242023
Operating Activities
Net income$844 $476 
Income (loss) from discontinued operations5 (357)
Net income from continuing operations$839 $833 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization895 853 
Credit for deferred income tax and other tax related items(87)(40)
Earnings of nonconsolidated affiliates in excess of dividends received(31)(13)
Net periodic pension benefit costs7 23 
Periodic benefit plan contributions(50)(49)
Net gain on sales of assets, businesses and investments(5)(8)
Restructuring and asset related charges - net68 39 
Loss on debt extinguishment74 — 
Interest rate swap gain(152)— 
Other net loss67 72 
Changes in assets and liabilities, net of effects of acquired and divested companies:
Accounts and notes receivable(173)100 
Inventories(69)57 
Accounts payable112 (191)
Other assets and liabilities, net262 (131)
Cash provided by operating activities - continuing operations$1,757 $1,545 
Investing Activities
Capital expenditures(418)(474)
Proceeds and adjustments to proceeds from sales of property and businesses, net of cash divested(7)16 
Acquisitions of property and businesses, net of cash acquired(320)(1,761)
Purchases of investments— (32)
Proceeds from sales and maturities of investments— 1,334 
Other investing activities, net20 (2)
Cash used for investing activities - continuing operations$(725)$(919)
Financing Activities
Changes in short-term borrowings— 175 
Payments on long-term debt(687)— 
Purchases of common stock and forward contracts(500)(2,000)
Proceeds from issuance of Company stock43 22 
Employee taxes paid for share-based payment arrangements(26)(25)
Distributions to noncontrolling interests(24)(34)
Dividends paid to stockholders(476)(495)
Other financing activities, net(1)(2)
Cash used for financing activities - continuing operations$(1,671)$(2,359)
Cash Flows from Discontinued Operations
Cash used for operations - discontinued operations (469)(176)
Cash used for investing activities - discontinued operations — (60)
Cash used in discontinued operations$(469)$(236)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(9)(56)
Decrease in cash, cash equivalents and restricted cash$(1,117)$(2,025)
Cash, cash equivalents and restricted cash from continuing operations, beginning of period2,803 3,772 
Cash, cash equivalents and restricted cash from discontinued operations, beginning of period— — 
Cash, cash equivalents and restricted cash at beginning of period$2,803 $3,772 
Cash, cash equivalents and restricted cash from continuing operations, end of period1,686 1,747 
Cash, cash equivalents and restricted cash from discontinued operations, end of period— — 
Cash, cash equivalents and restricted cash at end of period$1,686 $1,747 
See Notes to the Consolidated Financial Statements.
9
DuPont de Nemours, Inc.
Consolidated Statements of Equity
For the three months ended September 30, 2024 and 2023

In millions (Unaudited)Common StockAdditional Paid-in CapitalRetained Earnings
(Accumulated Deficit)		Accumulated Other Comp LossTreasury StockNon-controlling InterestsTotal Equity
Balance at June 30, 2023$5 $47,946 $(20,938)$(890)$— $430 $26,553 
Net income— — 319 — — 9 328 
Other comprehensive loss— — — (258)— (4)(262)
Common stock issued/sold— 10 — — — — 10 
Stock-based compensation— 22 — — — — 22 
Purchases of treasury stock— — — — (1,600)— (1,600)
Excise tax on purchase of treasury stock— — (22)— — — (22)
Retirement of treasury stock(1)— (2,212)— 2,213 — — 
Forward contracts for share repurchases— (400)— — — — (400)
Settlement of forward contracts for share repurchase— 613 — — (613)— — 
Other— (1)(1)— — — (2)
Balance at September 30, 2023$4 $48,190 $(22,854)$(1,148)$— $435 $24,627 
Balance at June 30, 2024$4 $48,019 $(23,414)$(1,274)$— $429 $23,764 
Net income— — 454 — — 8 462 
Other comprehensive income— — — 382 — 12 394 
Common stock issued/sold— 25 — — — — 25 
Stock-based compensation— 16 — — — — 16 
Distributions to non-controlling interests— — — — — (4)(4)
Other— (1)1 — — — — 
Balance at September 30, 2024$4 $48,059 $(22,959)$(892)$— $445 $24,657 
See Notes to the Consolidated Financial Statements.

10


DuPont de Nemours, Inc.
Consolidated Statements of Equity
For the nine months ended September 30, 2024 and 2023


In millions (Unaudited)Common StockAdditional Paid-in CapitalRetained Earnings
(Accumulated Deficit)		Accumulated Other Comp LossTreasury StockNon-controlling InterestsTotal Equity
Balance at December 31, 2022$5 $48,420 $(21,065)$(791)$— $448 $27,017 
Net income— — 445 — — 31 476 
Other comprehensive loss— — — (357)— (13)(370)
Dividends ($1.08 per common share)
— (495)— — — — (495)
Common stock issued/sold— 22 — — — — 22 
Stock-based compensation— 32 — — — — 32 
Distributions to non-controlling interests
— — — — — (34)(34)
Purchases of treasury stock— — — — (1,600)— (1,600)
Excise tax on purchases of treasury stock— — (22)— — — $(22)
Retirement of treasury stock(1)— (2,212)— 2,213 — — 
Forward contracts for share repurchase— (400)— — — — $(400)
Settlement of forward contracts for share repurchase— 613 — — (613)— $— 
Other— (2)— — — 3 1 
Balance at September 30, 2023$4 $48,190 $(22,854)$(1,148)$— $435 $24,627 
Balance at December 31, 2023$4 $48,059 $(22,874)$(910)$— $446 $24,725 
Net income— — 821 — — 23 844 
Other comprehensive income (loss)— — — 18 — (1)17 
Dividends ($1.14 per common share)
— (476)— — — — (476)
Common stock issued/sold
— 43 — — — — 43 
Stock-based compensation
— 36 — — — — 36 
Distributions to non-controlling interests
— — — — — (24)(24)
Purchases of treasury stock
— — — — (400)— (400)
Excise tax on purchases of treasury stock— — (9)— — — (9)
Retirement of treasury stock
— — (898)— 898 — — 
Forward contracts for share repurchase— (100)— — — — (100)
Settlement of forward contracts for share repurchase— 498 — — (498)— — 
Other
— (1)1 — — 1 1 
Balance at September 30, 2024$4 $48,059 $(22,959)$(892)$— $445 $24,657 
See Notes to the Consolidated Financial Statements.

11
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Table of Contents


12
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
In these notes, the terms "DuPont" or "Company" used herein mean DuPont de Nemours, Inc. and its consolidated subsidiaries. The accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, the interim statements reflect all adjustments (including normal recurring accruals) which are considered necessary for the fair statement of the results for the periods presented. Results from interim periods should not be considered indicative of results for the full year. These interim Consolidated Financial Statements should also be read in conjunction with the audited Consolidated Financial Statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, collectively referred to as the "2023 Annual Report." The interim Consolidated Financial Statements include the accounts of the Company and all of its subsidiaries in which a controlling interest is maintained.

Delrin® Divestiture
On November 1, 2023, the Company closed the sale of the Delrin® business to TJC LP ("TJC"), (the “Delrin® Divestiture”). See Note 4 for more information.

The interim Consolidated Statements of Operations for the three and nine months ended September 30, 2023 and the interim Consolidated Statements of Cash Flows for the nine months ended September 30, 2023, present the financial results and cash flows of Delrin® as discontinued operations. The comprehensive income of Delrin® has not been segregated and is included in the interim Consolidated Statements of Comprehensive Income for all periods presented. Unless otherwise indicated, the information in the notes to the interim Consolidated Financial Statements refers only to DuPont's continuing operations and does not include discussion of balances or activity of the Delrin® Divestiture.


NOTE 2 - RECENT ACCOUNTING GUIDANCE
Recently Adopted Accounting Guidance
In September 2022, the FASB issued Accounting Standards Update No. 2022-04, "Liabilities-Supplier Finance Programs (Subtopic 405-50)" ("ASU 2022-04") to enhance transparency about the use of supplier finance programs. The new guidance requires that a buyer in a supplier finance program provide additional qualitative and quantitative disclosures about its program including the nature of the program, activity during the period, changes from period to period, and the potential magnitude of the program. The amendments in ASU 2022-04 are effective for fiscal years beginning after December 15, 2022 on a retrospective basis, including interim periods within those fiscal years, except for the amendment on rollforward information which is effective prospectively for fiscal years beginning after December 15, 2023. The Company implemented the new disclosures, other than the rollforward information, as required in the first quarter of 2023. The disclosures around rollforward information will be implemented as required for the Annual Report on Form 10-K for the year-ended December 31, 2024. See Note 13 for more information.

Accounting Guidance Issued But Not Adopted at September 30, 2024
In November 2023, the FASB issued Accounting Standards Update No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07") to improve disclosure requirements about reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. The new guidance requires disclosures of significant segment expenses provided to the Chief Operating Decision Maker ("CODM") and included in reported measures of segment profit and loss. Disclosure of the title and position of the CODM is required. The guidance requires interim and annual disclosures about a reportable segment's profit or loss and assets. Additionally, the guidance requires disclosure of other segment items by reportable segment including a description of its composition. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. The disclosures will be implemented as required for the year-ended December 31, 2024. The Company is currently evaluating the impact of adopting this guidance.

In December 2023, the FASB issued Accounting Standards Update No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09") to improve transparency and disclosure requirements for the rate reconciliation, income taxes paid and other tax disclosures. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, on a prospective basis. The disclosures will be implemented as required for the year-ended December 31, 2025. The Company is currently evaluating the impact of adopting this guidance.


13
NOTE 3 - ACQUISITIONS
Donatelle Plastics Acquisition
On July 28, 2024, DuPont completed the acquisition of Donatelle Plastics, LLC and certain related real estate (together, "Donatelle Plastics"), for a net purchase price of $365 million (the "Donatelle Plastics Acquisition") which includes the estimated fair value for a contingent earn-out liability of $40 million, further discussed below. The parties have agreed to make adjustments as needed based on actual working capital, cash and certain expenses, among other items. Donatelle Plastics is a medical device company specializing in the design, development and manufacture of medical components and devices. Donatelle Plastics is being integrated into Industrial Solutions within the Electronics & Industrial segment.

The purchase accounting and purchase price allocation for Donatelle Plastics are substantially complete. However, the Company continues to refine the preliminary valuation of certain acquired assets and liabilities assumed, including income tax related amounts and working capital settlements, which could impact the amount of residual goodwill recorded. The Company will finalize the amounts recognized as it obtains the information necessary to complete the analysis, but no later than one year from the date of the acquisition.

The provisional fair values allocated to the assets acquired and liabilities assumed on July 28, 2024 include total assets of $268 million and total liabilities of $17 million. The goodwill acquired as part of the Donatelle Plastics Acquisition was $114 million resulting in total consideration of $365 million. The fair value of total assets acquired primarily includes $201 million of other intangible assets and $36 million of property plant and equipment. The remaining assets acquired primarily include cash and cash equivalents and inventory. Final determination of the fair values may result in further adjustments to these values.

The significant fair value estimates included in the provisional allocation of purchase price are discussed below.

Other Intangible Assets
Other intangible assets with definite lives primarily include provisional customer relationships of $151 million and developed technology of $47 million. Customer relationships and developed technology have useful lives of 20 years and 15 years, respectively. The customer-related intangible assets' estimated fair value was determined using the multi-period excess earnings method while the developed technology fair values were determined utilizing the relief from royalty method.

Goodwill
The excess of the consideration for Donatelle Plastics over the preliminary net fair value of assets acquired and liabilities assumed resulted in the provisional recognition of $114 million of goodwill, which has been assigned to the Electronics & Industrial segment. Goodwill is primarily attributable to the optimization of the combined Electronics & Industrial segment and Donatelle Plastics businesses’ global activities across sales and manufacturing, as well as expected future customer relationships. Donatelle Plastics goodwill will be deductible for U.S. tax purposes.

Contingent Earn-out Liability
The purchase agreement includes annual contingent earn-out payments based upon customer specific revenue generated through December 31, 2029, with total accumulated earn-out payments of up to $85 million. The contingent earn-out liability was measured using a Monte Carlo simulation and the primary assumption used is the estimated likelihood the customer specific revenue is earned. The contingent earn-out liability estimate represents a recurring fair value measurement with significant unobservable inputs, considered to be Level 3 measurements under the fair value hierarchy. The fair value of the contingent earn-out liability at the acquisition date was $40 million.

The fair value of the contingent earn-out liability is sensitive to changes in the interest rates, discount rates and the timing of the future payments, which are based upon estimates of future achievement of the customer specific revenue. Changes in the fair value of the contingent earn-out liability will be recognized in "Sundry income (expense), net" in the interim Consolidated Statements of Operations. As of September 30, 2024, the fair value of the contingent earn-out liability was $40 million, reflected in “Other noncurrent obligations” on the interim Condensed Consolidated Balance Sheets.

The Company evaluated the disclosure requirements under ASC 805, Business Combinations and determined Donatelle Plastics was not considered a material business combination for purposes of disclosing either the earnings of Donatelle Plastics since the date of acquisition or supplemental pro forma information.
14
Spectrum Acquisition
On August 1, 2023, the Company completed the previously announced acquisition of Spectrum Plastics Group (“Spectrum”) from AEA Investors (the “Spectrum Acquisition”). Spectrum manufactures flexible packaging products, plastic and silicone extrusions, and components for the industrial, food and medical business sectors throughout the United States and international markets. Spectrum is part of the Electronics & Industrial segment. The net purchase price was approximately $1,781 million, including a net upward adjustment of approximately $32 million for acquired cash and net working capital, among other items. The Company accounted for the acquisition in accordance with ASC 805, which requires the assets acquired and liabilities assumed to be recognized on interim Consolidated Balance Sheets at their fair values as of the acquisition date.

The purchase accounting and purchase price allocation for Spectrum are complete as of September 30, 2024. In the third quarter 2024, the Company finalized the working capital settlements for an immaterial amount which impacted the residual goodwill recorded. The Company has finalized the fair values allocated to the assets acquired and liabilities assumed and the purchase allocation is considered final. The following table presents the valuation of certain acquired assets and liabilities assumed:

Spectrum Assets Acquired and Liabilities Assumed on August 1, 2023Estimated fair value
(In millions)
Fair value of assets acquired
Cash and cash equivalents$31 
Accounts and notes receivable68 
Inventories52 
Property, plant and equipment125 
Other intangible assets916 
Deferred charges and other assets 34 
Total Assets Acquired$1,226 
Fair value of liabilities assumed
Accounts payable$21 
Income taxes payable17 
Deferred income tax liabilities177 
Other noncurrent liabilities44 
Total Liabilities Assumed$259 
Goodwill814 
Total Consideration$1,781 

The significant fair value estimates included in the allocation of purchase price are discussed below.

Other Intangible Assets
Other intangible assets with definite lives include acquired customer-related intangible assets of $772 million, developed technology of $126 million and trademark/tradename of $18 million. Acquired customer-related intangible assets, developed technology, and trademark/tradename have useful lives of 20 years, 15 years and 5 years, respectively. The customer-related intangible assets' fair value was determined using the multi-period excess earnings method while the developed technology and trademark/tradename fair values were determined utilizing the relief from royalty method.

Goodwill
The excess of the consideration for Spectrum over the net fair value of assets acquired and liabilities assumed resulted in the recognition of $814 million of goodwill, which has been assigned to the Electronics & Industrial segment. Goodwill is primarily attributable to the optimization of the combined Electronics & Industrial segment and Spectrum businesses’ global activities across sales and manufacturing, as well as expected future customer relationships. Spectrum goodwill will not be deductible for U.S. tax purposes.

15
Acquisition, Integration and Separation Costs
"Acquisition, integration and separation costs" within the interim Consolidated Statements of Operations primarily consist of financial advisory, information technology, legal, accounting, consulting, other professional advisory fees and other contractual transaction payments. The Company recorded $43 million and $9 million in costs for the three months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024 and 2023, the Company recorded costs of $51 million and $15 million, respectively. For the three and nine months ended September 30, 2024, these costs were primarily associated with the Intended Business Separations. Comparatively, for the three and nine months ended September 30, 2023, these costs were primarily associated with the Spectrum Acquisition. See Note 4 for more information regarding cost related to the Delrin® Divestiture.


NOTE 4 - DIVESTITURES
Delrin® Divestiture
On November 1, 2023, the Company closed the Delrin® Divestiture. DuPont received cash proceeds of approximately $1.28 billion, which includes certain customary transaction adjustments, a note receivable in the amount of $350 million, (the "Delrin® Note Receivable") and acquired a 19.9 percent non-controlling equity interest in Derby Group Holdings LLC, (“Derby”). The customary transaction adjustments primarily relate to $27 million of cash transferred with the Delrin® Divestiture for which DuPont was reimbursed at closing resulting in net cash proceeds of $1.25 billion. TJC, through its subsidiaries, holds the 80.1 percent controlling interest in Derby. The Company accounts for its equity interest in Derby as an equity method investment based upon its non-controlling equity interest, its $350 million par value intra-entity note receivable owed by an indirect, wholly owned subsidiary of Derby and its representation on the Derby board of directors. The note receivable has a maturity date of November 2031. The Company has limited continuing involvement with Derby including short-term transition service agreements and insignificant sales to the Delrin® business.

As a result of the Delrin® Divestiture, and included as part of the $419 million gain on the sale, the Company initially recognized the 19.9 percent equity interest and the $350 million note receivable at fair values of $121 million and $224 million, respectively, which are recorded in "Investments and noncurrent receivables" in the interim Condensed Consolidated Balance Sheets. The fair value of the equity interest was determined using the enterprise value based on sales proceeds and a market approach primarily based on restricted stock studies. The fair value of the note receivable was determined using a market approach primarily based on current market interest rates for similar credit facilities and the duration of the note. The financial results of Derby, subsequent to the transaction date, are included in DuPont's interim Condensed Consolidated Financial Statements with a three-month lag, using the equity method of accounting and with intercompany profits eliminated in accordance with DuPont’s accounting policy. Refer to Note 11 for additional information.

The Delrin® Divestiture together with the divestiture of the majority of the historic Mobility & Materials segment (the "M&M Divestiture"), including the Engineering Polymers business line and select product lines within the Advanced Solutions and Performance Resins business lines, (collectively the "M&M Divestitures") represented a strategic shift that had a major impact on DuPont's operations and results.

16
The interim results of operations for the three and nine months ended September 30, 2023, represent the Delrin® business unless otherwise indicated. The following table summarizes the interim results of operations of the Delrin® Divestiture which are presented as discontinued operations as summarized below:
In millionsThree Months Ended September 30, 2023Nine Months Ended
September 30, 2023
Net sales$133 $422 
Cost of sales93 269 
Research and development expenses1 3 
Selling, general and administrative expenses— 1 
Acquisition, integration and separation costs 1
40 140 
Sundry income (expense) - net 3 8 
Income from discontinued operations before income taxes$2 $17 
Benefit from income taxes on discontinued operations(14)(7)
Income from discontinued operations, net of tax$16 $24 
Gain on sale, net of tax 2
$33 $55 
Income from discontinued operations attributable to DuPont stockholders, net of tax$49 $79 
1. Includes costs related to both the M&M Divestitures which primarily consist of financial advisory, information technology, legal, accounting, consulting and other professional advisory fees.
2. Gain includes purchase price adjustments related to the M&M Divestiture.

Other Discontinued Operations Activity
The Company recorded a loss from discontinued operations, net of tax, of $18 million and a gain of $37 million for the three months ended September 30, 2024 and 2023, respectively, and a gain of $5 million and a loss of $357 million for the nine months ended September 30, 2024 and 2023, respectively.

Discontinued operations activity consists of the following:
(Loss) Income from Discontinued Operations, Net of TaxThree Months Ended
September 30,		Nine Months Ended
September 30,
In millions2024202320242023
M&M Divestitures 1
$(9)$49 $(19)$79 
MOU activity, net 2
(9)(8)(26)(384)
Indemnification activity - environmental and legal 3
(1)(3)(6)(46)
Tax related matters 4
1 — 57 — 
Other— (1)(1)(6)
(Loss) income from discontinued operations, net of tax$(18)$37 $5 $(357)
1.The three and nine months ended September 30, 2024 primarily includes Acquisition, integration and separation costs.
2.Includes the activity for the binding Memorandum of Understanding (“MOU”) between Chemours, Corteva Inc ("Corteva"), E. I. du Pont de Nemours and Company ("EIDP") and the Company, net of insurance recoveries. Refer to Note 14 for additional information.
3.Primarily related to the DWDP Separation and Distribution Agreement and Letter Agreement between Corteva and EIDP. For additional information on these matters, refer to Note 14.
4.The three and nine months ended September 30, 2024 includes tax indemnification activity associated with divested businesses.



17
NOTE 5 - REVENUE
Revenue Recognition
Products
Substantially all of DuPont's revenue is derived from product sales. Product sales consist of sales of DuPont's products to supply manufacturers and distributors. DuPont considers purchase orders, which in some cases are governed by master supply agreements, to be a contract with a customer. Contracts with customers are considered to be short-term when the time between order confirmation and satisfaction of the performance obligations is equal to or less than one year.

Disaggregation of Revenue
The Company disaggregates its revenue from contracts with customers by segment and business or major product line and geographic region, as the Company believes it best depicts the nature, amount, timing and uncertainty of its revenue and cash flows.

Effective as of January 1, 2024, Electronics & Industrial realigned certain product lines that comprise its business units (Industrial Solutions, Interconnect Solutions and Semiconductor Technologies) that are intended to optimize business operations across the segment leading to enhanced value for customers and cost savings. The Net Trade Revenue by Segment and Business or Major Product Line table below has been recast for all periods presented to reflect the new structure. There was no change to total Electronics & Industrial segment net sales.
Net Trade Revenue by Segment and Business or Major Product LineThree Months Ended
September 30,		Nine Months Ended
September 30,
In millions2024202320242023
Industrial Solutions $493 $450 $1,429 $1,298 
Interconnect Solutions491 448 1,355 1,269 
Semiconductor Technologies567 470 1,640 1,409 
Electronics & Industrial$1,551 $1,368 $4,424 $3,976 
Safety Solutions$598 $630 $1,798 $1,989 
Shelter Solutions421 431 1,236 1,248 
Water Solutions363 352 1,030 1,119 
Water & Protection$1,382 $1,413 $4,064 $4,356 
Corporate & Other 1
$259 $277 $806 $838 
Total$3,192 $3,058 $9,294 $9,170 
1. Net sales within Corporate & Other reflect the Retained Businesses which include the Auto Adhesives & Fluids, MultibaseTM and Tedlar® businesses.

Net Trade Revenue by Geographic RegionThree Months Ended
September 30,		Nine Months Ended
September 30,
In millions2024202320242023
U.S. & Canada$1,112 $1,093 $3,292 $3,161 
EMEA 1
538 535 1,632 1,702 
Asia Pacific 2
1,411 1,302 3,995 3,945 
Latin America131 128 375 362 
Total$3,192 $3,058 $9,294 $9,170 
1.Europe, Middle East and Africa.
2.Net sales attributed to China/Hong Kong, for the three months ended September 30, 2024 and 2023 were $632 million and $563 million, respectively, while for the nine months ended months ended September 30, 2024 and 2023 net sales attributed to China/Hong Kong were $1,761 million and $1,669 million, respectively.

18
Contract Balances
From time to time, the Company enters into arrangements in which it receives payments from customers based upon contractual billing schedules. The Company records accounts receivables when the right to consideration becomes unconditional. Contract liabilities primarily reflect deferred revenue from advance payment for product that the Company has received from customers. The Company classifies deferred revenue as current or noncurrent based on the timing of when the Company expects to recognize revenue.

Revenue recognized in the first nine months of 2024 and 2023 from amounts included in contract liabilities at the beginning of the period was insignificant.

Contract BalancesSeptember 30, 2024December 31, 2023
In millions
Accounts and notes receivable - trade 1
$1,688 $1,543 
Deferred revenue - current 2
$1 $1 
Deferred revenue - noncurrent 3
$29 $22 
1.Included in "Accounts and notes receivable - net" in the interim Condensed Consolidated Balance Sheets.
2.Included in "Accrued and other current liabilities" in the interim Condensed Consolidated Balance Sheets.
3.Included in "Other noncurrent obligations" in the interim Condensed Consolidated Balance Sheets.


NOTE 6 - RESTRUCTURING AND ASSET RELATED CHARGES - NET
The Company records restructuring liabilities that represent nonrecurring charges in connection with simplifying certain organizational structures and operations, including operations related to transformational projects such as divestitures and acquisitions. Charges for restructuring programs and asset related charges, which include asset impairments, were $21 million and $8 million for the three months ended September 30, 2024, and 2023, and $68 million and $39 million for the nine months ended September 30, 2024, and 2023. These charges were recorded in "Restructuring and asset related charges - net" in the interim Consolidated Statements of Operations. The total liability related to restructuring programs was $56 million at September 30, 2024 and $107 million at December 31, 2023, recorded in "Accrued and other current liabilities" in the interim Condensed Consolidated Balance Sheets. Inventory write-offs associated with restructuring programs are recorded to "Cost of Sales” in the interim Consolidated Statements of Operations. Restructuring activity primarily consists of the following programs:

2023-2024 Restructuring Program
In December 2023, the Company approved targeted restructuring actions to capture near-term cost reductions due to macroeconomic factors as well as to further simplify certain organizational structures following the Spectrum acquisition and Delrin® Divestiture (the "2023-2024 Restructuring Program"). The Company recorded pre-tax restructuring charges of $179 million inception-to-date, consisting of severance and related benefit costs of $100 million and asset related charges of $79 million. In connection with the 2023-2024 Restructuring Program, the Company recorded $2 million and $26 million of inventory write-offs in “Cost of Sales” within the interim Consolidated Statements of Operations for the three and nine months ended September 30, 2024. The inventory write-offs are related to plant line closures within the Water & Protection segment. The raw material was written down to salvage value as it was only utilizable on the closed lines which were based on outdated technology and has a limited third party resale market. Refer to Note 21 for significant items by segment.

The following table summarizes the charges incurred by segment related to the 2023-2024 Restructuring Program:
2023-2024 Restructuring Program Charges by SegmentThree Months Ended September 30, 2024Nine Months Ended September 30, 2024
(In millions)
Electronics & Industrial$(2)$1 
Water & Protection 1
— 37 
Corporate & Other26 31 
Total$24 $69 
1.Amount excludes inventory write-offs recorded during 2024. Refer to Note 21 for additional information.

19
The following table summarizes the activities related to the 2023-2024 Restructuring Program:
2023-2024 Restructuring ProgramSeverance and Related Benefit CostAsset Related ChargesTotal
In millions
Reserve balance at December 31, 2023$79 $— $79 
Restructuring charges 1
20 49 69 
Charges against the reserve(2)(49)(51)
Cash payments(46)— (46)
Reserve balance at September 30, 2024
$51 $— $51 
1.Amount excludes inventory write-offs recorded during 2024. Refer to Note 21 for additional information.

Total liabilities related to the 2023-2024 Restructuring Program were $51 million at September 30, 2024 and $79 million at December 31, 2023, respectively, recognized in "Accrued and other current liabilities" in the interim Condensed Consolidated Balance Sheets. The Company expects the program to be substantially complete by the end of 2024.

2022 Restructuring Program
In October 2022, the Company approved targeted restructuring actions to capture near-term cost reductions and to further simplify certain organizational structures following the M&M Divestitures (the "2022 Restructuring Program"). The Company recorded pre-tax restructuring charges of $95 million inception-to-date, consisting of severance and related benefit costs of $81 million and asset related charges of $14 million. The Company recorded pre-tax restructuring benefits of $3 million and charges of $7 million , during the three months ended September 30, 2024 and 2023, and benefits of $1 million and charges of $32 million for the nine months ended September 30, 2024 and 2023.

Total liabilities related to the 2022 Restructuring Program were $5 million at September 30, 2024 and $27 million at December 31, 2023, respectively, recognized in "Accrued and other current liabilities" in the interim Condensed Consolidated Balance Sheets. Actions related to the 2022 Restructuring Program are substantially complete.
20
NOTE 7 - SUPPLEMENTARY INFORMATION
Sundry Income (Expense) - NetThree Months Ended
September 30,		Nine Months Ended
September 30,
In millions2024202320242023
Non-operating pension and other post-employment benefit credits (costs)$4 $(3)$14 $(7)
Interest income 1
14 34 55 132 
Net gain on divestiture and sales of other assets and investments3 — 5 8 
Foreign exchange (losses) gains, net
(19)17 (19)(31)
Loss on debt extinguishment 2
— — (74)— 
Interest rate swap gain 3
191 — 152 — 
Miscellaneous income (expense) - net6 7 17 10 
Sundry income (expense) - net$199 $55 $150 $112 
1.The three and nine months ended September 30, 2024 includes non-cash interest income of $6 million and $19 million, respectively, related to the $350 million Delrin® related party note receivable. Refer to Note 11 for additional information.
2.Reflects the loss on the partial redemption of an aggregate principal amount of the 2038 Notes. Refer to Note 13 for further details.
3. Includes the non-cash mark-to-market gain related to the 2022 Swaps and 2024 Swaps offset by the interest settlement loss on the 2022 Swaps. Refer to Note 19 for further details.

Cash, Cash Equivalents and Restricted Cash
At September 30, 2024 and December 31, 2023 the Company had $6 million and $411 million, respectively, within “Restricted cash and cash equivalents” in the interim Condensed Consolidated Balance Sheets. At September 30, 2024, the Company also had $35 million, within "Restricted cash and cash equivalents - noncurrent". The majority of the balance as of September 30, 2024, is attributable to the MOU cost sharing arrangement. The majority of the balance as of December 31, 2023 is attributable to the Water District Settlement Fund. During the second quarter 2024, the judgment related to the Water District Settlement Fund became final and therefore $408 million was removed from "Restricted cash and cash equivalents”. Additional information can be found in Note 14.

Accrued and Other Current Liabilities
"Accrued and other current liabilities" in the interim Condensed Consolidated Balance Sheets were $985 million at September 30, 2024 and $1,269 million at December 31, 2023. "Accrued and other current liabilities" at December 31, 2023 includes approximately $405 million, respectively, related to the Water District Settlement Agreement further discussed in Note 14, the related balance at September 30, 2024 was zero. Accrued payroll, which is a component of "Accrued and other current liabilities," was $360 million at September 30, 2024 and $250 million at December 31, 2023. No other component of "Accrued and other current liabilities" was more than 5 percent of total current liabilities at September 30, 2024 and at December 31, 2023.


21
NOTE 8 - INCOME TAXES
Each year the Company files hundreds of tax returns in the various national, state, and local income taxing jurisdictions in which it operates. These tax returns are subject to examination and possible challenge by the tax authorities. The Company has ongoing federal, state, and international income tax audits in various jurisdictions and evaluates uncertain tax positions that may be challenged by local tax authorities. As a result, there is an uncertainty in income taxes recognized in the Company’s financial statements in accordance with accounting for income taxes and accounting for uncertainty in income taxes. The ultimate resolution of such uncertainties is not expected to have a material impact on the Company's interim results of operations.

The Company's effective tax rate fluctuates based on, among other factors, where income is earned and the level of income relative to tax attributes. The effective tax rate on continuing operations for the third quarter of 2024 was 18.1 percent, compared with an effective tax rate of 28.7 percent for the third quarter of 2023. The decrease of the effective tax rate for the third quarter of 2024 compared to the third quarter of 2023 was primarily driven by certain discrete tax benefits, including the settlement of an international tax audit in the quarter.

For the first nine months of 2024, the effective tax rate on continuing operations was 27.0 percent, compared with 25.6 percent for the first nine months of 2023. The higher effective tax rate in 2024 thus far was driven by the geographic mix of earnings offset by the U.S. taxation of foreign operations as well as certain discrete tax expenses, including the settlement in the second quarter of an international tax audit for which the Company is partially indemnified.

Effective from 2024, the Organization for Economic Co-operation and Development’s ("OECD") Global Anti-Base Erosion ("GloBE") rules under Pillar Two have been enacted by the European Union and other countries in which the Company operates. The Company does not expect a resulting material change to the income tax provision for the current year ending December 31, 2024. However, the Company expects the effective tax rate and cash tax payments could increase in future years.


22
NOTE 9 - EARNINGS PER SHARE CALCULATIONS
The following tables provide earnings per share calculations for the three and nine months ended September 30, 2024 and 2023:
Net Income for Earnings Per Share Calculations - Basic & DilutedThree Months Ended
September 30,		Nine Months Ended
September 30,
In millions2024202320242023
Income from continuing operations, net of tax$480 $291 $839 $833 
Net income from continuing operations attributable to noncontrolling interests8 9 23 31 
Income from continuing operations attributable to common stockholders$472 $282 $816 $802 
(Loss) income from discontinued operations attributable to common stockholders, net of tax$(18)$37 $5 $(357)
Net income attributable to common stockholders$454 $319 $821 $445 
Earnings Per Share Calculations - BasicThree Months Ended
September 30,		Nine Months Ended
September 30,
Dollars per share2024202320242023
Earnings from continuing operations attributable to common stockholders$1.13 $0.62 $1.95 $1.76 
(Loss) earnings from discontinued operations, net of tax(0.04)0.08 0.01 (0.78)
Earnings attributable to common stockholders 1
$1.09 $0.71 $1.96 $0.97