Revised Consolidated Statements of Operations
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Three months ended June 30, 2025 |
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|
As reported |
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Adjustments |
|
|
As revised |
|
Selling, general and administrative expense |
$ |
|
437 |
|
$ |
|
(13 |
) |
$ |
|
424 |
|
Total other operating expenses |
$ |
|
483 |
|
$ |
|
(13 |
) |
$ |
|
470 |
|
(Loss) income before income taxes |
$ |
|
(261 |
) |
$ |
|
13 |
|
$ |
|
(248 |
) |
Provision for (benefit from) income taxes |
$ |
|
119 |
|
$ |
|
12 |
|
$ |
|
131 |
|
Net (loss) income |
$ |
|
(380 |
) |
$ |
|
1 |
|
$ |
|
(379 |
) |
Net (loss) income attributable to Chemours |
$ |
|
(381 |
) |
$ |
|
1 |
|
$ |
|
(380 |
) |
Per share data |
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Basic (loss) earnings per share of common stock |
$ |
|
(2.54 |
) |
$ |
|
0.01 |
|
$ |
|
(2.53 |
) |
Diluted (loss) earnings per share of common stock |
$ |
|
(2.54 |
) |
$ |
|
0.01 |
|
$ |
|
(2.53 |
) |
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Six months ended June 30, 2025 |
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As reported |
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Adjustments |
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|
As revised |
|
Selling, general and administrative expense |
$ |
|
560 |
|
$ |
|
(13 |
) |
$ |
|
547 |
|
Total other operating expenses |
$ |
|
666 |
|
$ |
|
(13 |
) |
$ |
|
653 |
|
(Loss) income before income taxes |
$ |
|
(262 |
) |
$ |
|
13 |
|
$ |
|
(249 |
) |
Provision for (benefit from) income taxes |
$ |
|
122 |
|
$ |
|
13 |
|
$ |
|
135 |
|
Revised Consolidated Statements of Comprehensive (Loss) Income
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Three months ended June 30, 2025 |
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As reported |
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|
Adjustments |
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|
As revised |
|
Net loss |
$ |
|
(380 |
) |
$ |
|
1 |
|
$ |
|
(379 |
) |
Unrealized (loss) gain on net investment hedge (Pre-Tax) |
$ |
|
(101 |
) |
$ |
|
4 |
|
$ |
|
(97 |
) |
Unrealized (loss) gain on net investment hedge (Tax) |
$ |
|
24 |
|
$ |
|
(1 |
) |
$ |
|
23 |
|
Unrealized (loss) gain on net investment hedge (After-Tax) |
$ |
|
(77 |
) |
$ |
|
3 |
|
$ |
|
(74 |
) |
Hedging activities, net (Pre-Tax) |
$ |
|
(117 |
) |
$ |
|
4 |
|
$ |
|
(113 |
) |
Hedging activities, net (Tax) |
$ |
|
26 |
|
$ |
|
(1 |
) |
$ |
|
25 |
|
Hedging activities, net (After-Tax) |
$ |
|
(91 |
) |
$ |
|
3 |
|
$ |
|
(88 |
) |
Other Comprehensive income (loss) |
$ |
|
45 |
|
$ |
|
3 |
|
$ |
|
48 |
|
Comprehensive loss |
$ |
|
(335 |
) |
$ |
|
4 |
|
$ |
|
(331 |
) |
Comprehensive loss attributable to Chemours |
$ |
|
(336 |
) |
$ |
|
4 |
|
$ |
|
(332 |
) |
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|
Six months ended June 30, 2025 |
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|
As reported |
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|
Adjustments |
|
|
As revised |
|
Unrealized (loss) gain on net investment hedge (Pre-Tax) |
$ |
|
(132 |
) |
$ |
|
9 |
|
$ |
|
(123 |
) |
Unrealized (loss) gain on net investment hedge (Tax) |
$ |
|
32 |
|
$ |
|
(2 |
) |
$ |
|
30 |
|
Unrealized (loss) gain on net investment hedge (After-Tax) |
$ |
|
(100 |
) |
$ |
|
7 |
|
$ |
|
(93 |
) |
Hedging activities, net (Pre-Tax) |
$ |
|
(155 |
) |
$ |
|
9 |
|
$ |
|
(146 |
) |
Hedging activities, net (Tax) |
$ |
|
35 |
|
$ |
|
(2 |
) |
$ |
|
33 |
|
Hedging activities, net (After-Tax) |
$ |
|
(120 |
) |
$ |
|
7 |
|
$ |
|
(113 |
) |
Other Comprehensive income (loss) |
$ |
|
74 |
|
$ |
|
7 |
|
$ |
|
81 |
|
Comprehensive loss |
$ |
|
(310 |
) |
$ |
|
7 |
|
$ |
|
(303 |
) |
Comprehensive loss attributable to Chemours |
$ |
|
(311 |
) |
$ |
|
7 |
|
$ |
|
(304 |
) |
Revised Consolidated Statements of Stockholders' Equity
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Three months ended June 30, 2025 |
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|
As reported |
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|
Adjustments |
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|
As revised |
|
Retained earnings at 4/1/2025 |
$ |
|
1,659 |
|
$ |
|
(17 |
) |
$ |
|
1,642 |
|
Total Equity 4/1/2025 |
|
|
580 |
|
|
|
(13 |
) |
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|
567 |
|
Accumulated Other Comprehensive Income at 4/1/2025 |
|
|
(338 |
) |
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|
4 |
|
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|
(334 |
) |
Net loss |
$ |
|
(380 |
) |
$ |
|
1 |
|
$ |
|
(379 |
) |
Other Comprehensive Income |
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|
45 |
|
|
|
3 |
|
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|
48 |
|
Accumulated Other Comprehensive Income at 6/30/2025 |
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|
(293 |
) |
|
|
7 |
|
|
|
(286 |
) |
Retained earnings at 6/30/2025 |
$ |
|
1,265 |
|
$ |
|
(16 |
) |
$ |
|
1,249 |
|
Total Equity 6/30/2025 |
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|
239 |
|
|
|
(9 |
) |
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|
230 |
|
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|
Six months ended June 30, 2025 |
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|
As reported |
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Adjustments |
|
|
As revised |
|
Retained earnings at 1/1/2025 |
$ |
|
1,701 |
|
$ |
|
(16 |
) |
$ |
|
1,685 |
|
Total Equity 1/1/2025 |
|
|
588 |
|
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|
(16 |
) |
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|
572 |
|
Other Comprehensive Income |
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|
74 |
|
|
|
7 |
|
|
|
81 |
|
Accumulated Other Comprehensive Income at 6/30/2025 |
|
|
(293 |
) |
|
|
7 |
|
|
|
(286 |
) |
Retained earnings at 6/30/2025 |
$ |
|
1,265 |
|
$ |
|
(16 |
) |
$ |
|
1,249 |
|
Total Equity 6/30/2025 |
|
|
239 |
|
|
|
(9 |
) |
|
|
230 |
|
Revised Consolidated Statements of Cash Flows
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|
Six Months Ended June 30, 2025 |
|
|
|
As reported |
|
|
Adjustments |
|
|
As revised |
|
Net loss |
$ |
|
(384 |
) |
$ |
|
(0 |
) |
$ |
|
(384 |
) |
Cash flows from operating activities: |
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|
Deferred tax provision (benefit) |
$ |
|
84 |
|
$ |
|
13 |
|
$ |
|
97 |
|
(Decrease) increase in operating liabilities: |
|
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|
|
|
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|
Other current operating liabilities |
$ |
|
83 |
|
$ |
|
(13 |
) |
$ |
|
70 |
|
Cash provided by (used for) operating activities |
|
|
(19 |
) |
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|
— |
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|
(19 |
) |
|