0001564590-21-005805 | 10-K | XBRL Viewer

Long-term Employee Benefits

12 Months Ended

Dec. 31, 2020

General Discussion Of Pension And Other Postretirement Benefits [Abstract]

Note 27. Long-term Employee Benefits

Plans Covering Employees in the U.S.

On July 1, 2015, Chemours established a defined contribution plan, which covered all eligible U.S. employees. The purpose of the plan is to encourage employees to save for their future retirement needs. The plan is a tax-qualified contributory profit-sharing plan, with cash or deferred arrangement, and any eligible employee of Chemours may participate. Chemours matches 100% of the first 6% of the employee’s contribution election, and the plan’s matching contributions vest immediately upon contribution. Chemours may also provide an additional discretionary retirement savings contribution to eligible employees’ compensation. The amount of this contribution, if any, is at the sole discretion of the Company, and the discretionary contribution vests for employees with at least three years of service. From time to time, Chemours provides additional discretionary retirement savings contributions to eligible employees’ compensation.

In lieu of a defined benefit plan, Chemours provided an enhanced 401(k) contribution for employees who previously participated in EID’s pension plan. The enhanced benefits consisted of an additional contribution of 1% to 7% of the employee’s eligible compensation, depending upon the employee’s length of service with EID at the time of the Separation. The enhancement ended in 2019.

Plans Covering Employees Outside the U.S.

Pension coverage for employees of Chemours’ non-U.S. subsidiaries is provided, to the extent deemed appropriate, through separate plans established after the Separation and comparable to the EID plans in those countries. Obligations under such plans are either funded by depositing funds with trustees, covered by insurance contracts, or unfunded.

In the fourth quarter of 2019, the Company, through its wholly-owned subsidiary Chemours Netherlands B.V., completed a settlement transaction related to a significant portion of its Netherlands pension plan. The Company transferred the future risk and administration associated with the $932 of its inactive participants’ vested pension benefits to a third-party asset management company in the Netherlands. The irrevocability of the transaction was contingent upon non-objection by the Dutch National Bank, which was received in October 2019. Following the receipt of non-objection, the responsibility for the associated pension obligation was transferred to the third-party asset management company in December 2019, thereby eliminating the Company’s exposure to the pension liabilities and formally effecting the settlement. At the time of settlement, a remeasurement of plan assets and projected benefit obligations was performed, resulting in a $158 decrease to net pension assets and increase to accumulated other comprehensive loss on the consolidated balance sheet. The cumulative loss associated with the inactive participants’ vested pension benefits was then immediately reclassified from accumulated other comprehensive loss and recognized in earnings, resulting in a charge of $380 recognized in other expense, net in the consolidated statements of operations. At December 31, 2019, the projected benefit obligations associated with the plan’s active employees remained on the Company’s consolidated balance sheet.

The following table sets forth the Company’s net periodic pension (cost) income and amounts recognized in other comprehensive income (loss) for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Service cost	$	(15	)	$	(13	)	$	(14	)
Interest cost		(6	)		(17	)		(16	)
Expected return on plan assets		17			48			58
Amortization of actuarial loss		(9	)		(18	)		(12	)
Amortization of prior service gain		3			2			2
Settlement loss		(5	)		(383	)		—
Curtailment gain		1			—			—
Total net periodic pension (cost) income	$	(14	)	$	(381	)	$	18

Net gain (loss)	$	4		$	(144	)	$	(115	)
Prior service (cost) benefit		(1	)		5			—
Amortization of actuarial loss		9			18			16
Amortization of prior service gain		(3	)		(2	)		(2	)
Settlement loss		5			383			—
Curtailment gain		4			—			—
Effect of foreign exchange rates		(9	)		7			8
Benefit (cost) recognized in other comprehensive income		9			267			(93	)
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$	(5	)	$	(114	)	$	(75	)

The following table sets forth the pre-tax amounts recognized in accumulated other comprehensive loss at December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Net loss	$	143		$	151		$	419
Prior service credit		(12	)		(14	)		(10	)
Total amount recognized in accumulated other comprehensive loss	$	131		$	137		$	409

The following table sets forth summarized information on the Company’s pension plans at December 31, 2020 and 2019.

	December 31,
	2020			2019
Change in benefit obligation:
Benefit obligation at beginning of year	$	507		$	1,168
Service cost		15			13
Interest cost		6			17
Plan participants’ contributions		2			2
Actuarial loss		33			313
Benefits paid		(2	)		(37	)
Plan amendments		—			(5	)
Settlements and transfers		(24	)		(945	)
Currency translation		47			(19	)
Benefit obligation at end of year		584			507
Change in plan assets:
Fair value of plan assets at beginning of year		500			1,268
Actual return on plan assets		55			217
Employer contributions		20			19
Plan participants’ contributions		2			2
Benefits paid		(2	)		(37	)
Settlements and transfers		(21	)		(945	)
Currency translation		50			(24	)
Fair value of plan assets at end of year		604			500
Total funded status at end of year	$	20		$	(7	)

The following table sets forth the net amounts recognized in the Company’s consolidated balance sheets at December 31, 2020 and 2019.

	December 31,
	2020			2019
Non-current assets	$	79		$	59
Current liabilities		(2	)		(2	)
Non-current liabilities		(57	)		(64	)
Total net amount recognized	$	20		$	(7	)

The accumulated benefit obligation for all pension plans was $513 and $445 as of December 31, 2020 and 2019, respectively.

For the year ended December 31, 2020, the liability component of the Company’s global pension plans generated a net actuarial loss of $33, driven by a decrease in discount rates that resulted in a loss of $38 across all plans. This loss was partially offset by a gain of $7 related to a change in the mortality assumption in the Netherlands, as well as a gain of $1 from changes in other demographic assumptions. The Company also recorded an additional loss of $3 from unfavorable actuarial experience and other assumption changes.

The asset component of the Company’s global pension plans generated an actual return on plan assets of $55, driven by favorable performance on equities and bonds that resulted in incremental gains of $38 in the plans’ investment portfolios.

The following tables set forth information related to the Company’s pension plans with projected and accumulated benefit obligations in excess of the fair value of plan assets at December 31, 2020 and 2019.

	December 31,
Pension plans with projected benefit obligation in excess of plan assets	2020		2019
Projected benefit obligation	$	175	$	178
Accumulated benefit obligation		148		150
Fair value of plan assets		116		111

	December 31,
Pension plans with accumulated benefit obligation in excess of plan assets	2020		2019
Projected benefit obligation	$	153	$	178
Accumulated benefit obligation		131		150
Fair value of plan assets		98		111

Assumptions

The Company generally utilizes discount rates that are developed by matching the expected cash flows of each benefit plan to various yield curves constructed from a portfolio of high-quality, fixed income instruments provided by the plans’ actuaries as of the measurement date. The expected rate of return on plan assets reflects economic assumptions applicable to each country.

The following tables set forth the assumptions that have been used to determine the Company’s benefit obligations and net benefit cost at December 31, 2020 and 2019.

	December 31,
Weighted-average assumptions used to determine benefit obligations	2020			2019
Discount rate		1.0	%		1.4	%
Rate of compensation increase (1)		2.5	%		2.6	%
Interest crediting rate (2)		1.3	%		1.5	%

(1)

The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant’s entire career at Chemours.

(2)

The interest crediting rate, which is applicable only for account balance type plans, represents the single effective annual account balance increase that an average participant would receive during the participant’s entire career at Chemours.

	December 31,
Weighted-average assumptions used to determine net benefit cost	2020			2019
Discount rate		1.4	%		2.0	%
Rate of compensation increase (1)		2.5	%		2.5	%
Expected return on plan assets		3.2	%		4.1	%

(1)

The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant’s entire career at Chemours.

Plan Assets

Each pension plan’s assets are invested through either an insurance vehicle, a master trust fund, or a stand-alone pension fund. The strategic asset allocation for each plan is selected by management, together with the pension board, where appropriate, reflecting the results of comprehensive asset and liability modeling. For assets under its control, Chemours establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. Strategic asset allocations in countries are selected in accordance with the laws and practices of those countries.

The following table sets forth the weighted-average allocation for the Company’s pension plan assets at December 31, 2020 and 2019.

	December 31,
	2020			2019
Cash and cash equivalents		7	%		8	%
U.S. and non-U.S. equity securities		37	%		52	%
Fixed income securities		56	%		40	%
Total weighted-average allocation		100	%		100	%

Fixed income securities include corporate-issued, government-issued, and asset-backed securities. Corporate debt investments encompass a range of credit risk and industry diversification.

Fair value calculations may not be indicative of net realizable value or reflective of future fair values. Furthermore, although Chemours believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The following tables set forth the fair values of the Company’s pension assets by level within the fair value hierarchy at December 31, 2020 and 2019.

	Fair Value Measurements at December 31, 2020
	Total		Level 1		Level 2
Asset category:
Debt - government issued	$	60	$	10	$	50
Debt - corporate issued		158		42		116
U.S. and non-U.S. equities		220		33		187
Derivatives - asset position		93		—		93
Cash and cash equivalents		43		43		—
Other		2		—		2
Total pension assets at fair value		576	$	128	$	448
Pooled mortgage funds (1)		28
Total pension assets	$	604

(1)

Pooled mortgage funds consist of funds that invest in residential mortgages. These funds generally allow for monthly redemption with 30 days' notice. Timing for redemption could be delayed based on the priority of our request and the availability of funds. Interests in these funds are valued using the net asset value ("NAV") per share practical expedient and are not classified in the fair value hierarchy.

	Fair Value Measurements at December 31, 2019
	Total			Level 1		Level 2
Asset category:
Debt - government issued	$	150		$	9	$	141
Debt - corporate issued		51			47		4
U.S. and non-U.S. equities		102			101		1
Mutual funds		135			—		135
Derivatives - asset position		28			—		28
Cash and cash equivalents		41			41		—
Other		2			2		—
Total pension assets at fair value		509		$	200	$	309
Pension trust payables, net (1)		(9	)
Total pension assets	$	500

(1)

Pension trust payables are primarily for investments purchased and received but not yet paid.

For pension plan assets classified as Level 1 instruments within the fair value hierarchy, total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs.

For pension plan assets classified as Level 2 instruments within the fair value hierarchy, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability. Market inputs are obtained from well-established, recognized vendors of market data and subjected to tolerance and/or quality checks. For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates, commodity prices, swap rates, interest rates, and implied volatilities obtained from various market sources. With the exception of pooled mortgage funds, pooled funds are valued at the per-unit NAV as determined by the fund manager based on the value of the underlying traded securities.

Cash Flows – Defined Benefit Plans

Employer Contributions

For the years ended December 31, 2020, 2019, and 2018, Chemours contributed $20, $19, and $15, respectively, to its defined benefit plans.

Chemours expects to contribute $16 to its pension plans in 2021. The Company’s future contributions to its defined benefit pension plans are dependent on market-based discount rates, and, as stated in “Note 2 – Basis of Presentation” to these consolidated financial statements, may differ due to the impacts of the COVID-19 pandemic on the macroeconomic environment.

Future Benefit Payments

The following table sets forth the benefit payments that are expected to be paid by the plans over the next five years and the five years thereafter.

2021	$	10
2022		10
2023		13
2024		15
2025		15
2026 to 2030		98

Cash Flows – Defined Contribution Plan

Employer Contributions

For the years ended December 31, 2020, 2019, and 2018, Chemours contributed $27, $34, and $51, respectively, to its defined contribution plan.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 4,969	$ 5,526	$ 6,638
Cost of goods sold	3,902	4,463	4,667
Gross profit	1,067	1,063	1,971
Selling, general, and administrative expense	527	548	657
Research and development expense	93	80	82
Restructuring, asset-related, and other charges	80	87	49
Total other operating expenses	700	715	788
Equity in earnings of affiliates	23	29	43
Interest expense, net	(210)	(208)	(195)
Loss on extinguishment of debt	(22)	0	(38)
Other income (expense), net	21	(293)	162
Income (loss) before income taxes	179	(124)	1,155
(Benefit from) provision for income taxes	(40)	(72)	159
Net income (loss)	219	(52)	996
Less: Net income attributable to non-controlling interests	0	0	1
Net income (loss) attributable to Chemours	$ 219	$ (52)	$ 995
Per share data
Basic earnings (loss) per share of common stock	$ 1.33	$ (0.32)	$ 5.62
Diluted earnings (loss) per share of common stock	$ 1.32	$ (0.32)	$ 5.45

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Common stock , par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	810,000,000	810,000,000
Common stock, shares Issued (in shares)	190,239,883	188,893,478
Common stock, shares outstanding (in shares)	164,920,648	163,574,243
Treasury stock (in shares)	25,319,235	25,319,235

Other Assets (Tables)

12 Months Ended

Dec. 31, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Schedule of Other Assets

The following table sets forth the components of the Company’s other assets at December 31, 2020 and 2019.

	December 31,
	2020		2019
Capitalized repair and maintenance costs	$	198	$	148
Pension assets (1)		79		59
Deferred income taxes		95		40
Miscellaneous		33		45
Total other assets	$	405	$	292

(1)

Pension assets represents the funded status of certain of the Company’s long-term employee benefit plans.

Geographic and Segment Information - Reconciliation of Segment Adjusted EBITDA from Segments to Consolidated Income (Loss) Before Income Taxes (Details) (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Legal charges	$ 49	$ 175	$ 82
PFOA Multi District Litigation in Ohio [Member]
Segment Reporting Information [Line Items]
Legal charges	29
GenX and Other Perfluorinated and Polyfluorinated Compounds [Member]
Segment Reporting Information [Line Items]
Legal charges	8	168	63
On-site Remediation [Member]
Segment Reporting Information [Line Items]
Legal charges	5
Oakley California Site [Member]
Segment Reporting Information [Line Items]
Gain on sale of asset	$ 6
East Chicago, Indiana [Member]
Segment Reporting Information [Line Items]
Gain on sale of asset			3
Linden, New Jersey Sites [Member]
Segment Reporting Information [Line Items]
Gain on sale of asset			$ 42
Repauno, New Jersey Sites [Member]
Segment Reporting Information [Line Items]
Gain on sale of asset		9
Netherlands Pension Plan [Member]
Segment Reporting Information [Line Items]
Settlement loss		$ 380

Geographic and Segment Information - Narrative (Details) - segment	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020
Segments Geographical Areas [Abstract]
Number of reportable segments	4	4

Research and Development Expense - Summary of R&D Expense by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Research and Development [Line Items]
Total research and development expense	$ 93	$ 80	$ 82
Thermal & Specialized Solutions [Member]
Research and Development [Line Items]
Total research and development expense	18	17	19
Chemical Solutions [Member]
Research and Development [Line Items]
Total research and development expense	2	2	2
Titanium Technologies [Member]
Research and Development [Line Items]
Total research and development expense	31	29	28
Advanced Performance Materials [Member]
Research and Development [Line Items]
Total research and development expense	41	31	31
Corporate and Other [Member]
Research and Development [Line Items]
Total research and development expense	$ 1	$ 1	$ 2

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net income (loss)	$ 219	$ (52)	$ 996
Adjustments to reconcile net income to cash provided by (used for) operating activities:
Depreciation and amortization	320	311	284
Gain on sales of assets and businesses	(8)	(10)	(45)
Equity in earnings of affiliates, net	0	(3)	18
Loss on extinguishment of debt	22	0	38
Amortization of debt issuance costs and issue discounts	9	9	11
Deferred tax (benefit) provision	(120)	(165)	23
Asset-related charges	22	43	4
Stock-based compensation expense	16	19	24
Net periodic pension cost (income)	14	381	(18)
Defined benefit plan contributions	(21)	(19)	(15)
Other operating charges and credits, net	(22)	(2)	(7)
Decrease (increase) in operating assets:
Accounts and notes receivable, net	175	191	47
Inventories and other operating assets	126	116	(284)
(Decrease) increase in operating liabilities:
Accounts payable and other operating liabilities	55	(169)	64
Cash provided by operating activities	807	650	1,140
Cash flows from investing activities
Purchases of property, plant, and equipment	(267)	(481)	(498)
Acquisition of business, net	0	(10)	(37)
Proceeds from sales of assets and businesses, net	5	9	46
Proceeds from life insurance policies	1	1	0
Foreign exchange contract settlements, net	27	(2)	2
Cash used for investing activities	(234)	(483)	(487)
Cash flows from financing activities
Proceeds from issuance of debt	800	0	520
Proceeds from accounts receivable securitization facility	12	128	0
Repayments on accounts receivable securitization facility	(122)	(18)	0
Proceeds from revolving loan	300	150	0
Repayments on revolving loan	(300)	(150)	0
Debt repayments	(943)	(19)	(679)
Payments related to extinguishment of debt	(16)	0	(29)
Payments of debt issuance costs	(10)	0	(12)
Payments on finance leases	(6)	(3)	0
Deferred acquisition-related consideration	(10)	0	0
Purchases of treasury stock, at cost	0	(322)	(644)
Proceeds from exercised stock options, net	16	9	16
Payments related to tax withholdings on vested stock awards	(2)	(30)	(17)
Payments of dividends to the Company's common shareholders	(164)	(164)	(148)
Distributions to non-controlling interest shareholders	(4)	0	0
Cash used for financing activities	(449)	(419)	(993)
Effect of exchange rate changes on cash and cash equivalents	38	(6)	(15)
Increase (decrease) in cash and cash equivalents	162	(258)	(355)
Cash and cash equivalents at January 1,	943	1,201	1,556
Cash and cash equivalents at December 31,	1,105	943	1,201
Cash paid during the year for:
Interest, net of amounts capitalized	208	204	206
Income taxes, net of refunds	78	85	75
Non-cash investing and financing activities:
Changes in property, plant, and equipment included in accounts payable	31	85	37
Obligations incurred under build-to-suit lease arrangement	0	40	47
Non-cash financing arrangements	16	11	0
Deferred payments related to acquisition of business	$ 0	$ 15	$ 0

Long-term Employee Benefits (Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Total weighted-average allocation	100.00%	100.00%
Pension Plan [Member] \| Foreign [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets	$ 604	$ 500	$ 1,268
Pension Plan [Member] \| Foreign [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Total weighted-average allocation	7.00%	8.00%
Total pension assets at fair value	$ 43	$ 41
Pension Plan [Member] \| Foreign [Member] \| Cash and Cash Equivalents [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	43	41
Pension Plan [Member] \| Foreign [Member] \| Cash and Cash Equivalents [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	$ 0	$ 0
Pension Plan [Member] \| Foreign [Member] \| Equity securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total weighted-average allocation	37.00%	52.00%
Total pension assets at fair value	$ 220	$ 102
Pension Plan [Member] \| Foreign [Member] \| Equity securities [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	33	101
Pension Plan [Member] \| Foreign [Member] \| Equity securities [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	$ 187	$ 1
Pension Plan [Member] \| Foreign [Member] \| Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total weighted-average allocation	56.00%	40.00%
Pension Plan [Member] \| Foreign [Member] \| Total Pension Assets at Fair Value [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets	$ 576	$ 509
Pension Plan [Member] \| Foreign [Member] \| Total Pension Assets at Fair Value [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets	128	200
Pension Plan [Member] \| Foreign [Member] \| Total Pension Assets at Fair Value [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets	448	309
Pension Plan [Member] \| Foreign [Member] \| Pooled Mortgage Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets	28
Pension Plan [Member] \| Foreign [Member] \| Government Issued [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	60	150
Pension Plan [Member] \| Foreign [Member] \| Government Issued [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	10	9
Pension Plan [Member] \| Foreign [Member] \| Government Issued [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	50	141
Pension Plan [Member] \| Foreign [Member] \| Corporate Issued [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	158	51
Pension Plan [Member] \| Foreign [Member] \| Corporate Issued [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	42	47
Pension Plan [Member] \| Foreign [Member] \| Corporate Issued [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	116	4
Pension Plan [Member] \| Foreign [Member] \| Mututal Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value		135
Pension Plan [Member] \| Foreign [Member] \| Mututal Funds [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value		0
Pension Plan [Member] \| Foreign [Member] \| Mututal Funds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value		135
Pension Plan [Member] \| Foreign [Member] \| Derivative Financial Instruments, Assets
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	93	28
Pension Plan [Member] \| Foreign [Member] \| Derivative Financial Instruments, Assets \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	0	0
Pension Plan [Member] \| Foreign [Member] \| Derivative Financial Instruments, Assets \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	93	28
Pension Plan [Member] \| Foreign [Member] \| Other Plan Assets
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	2	2
Pension Plan [Member] \| Foreign [Member] \| Other Plan Assets \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	0	2
Pension Plan [Member] \| Foreign [Member] \| Other Plan Assets \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets at fair value	$ 2	0
Pension Plan [Member] \| Foreign [Member] \| Pension Trust Payables, Net [Member]
Defined Benefit Plan Disclosure [Line Items]
Total pension assets		$ (9)

Long-term Employee Benefits (Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Non-current assets	$ 79	$ 59
The accumulated benefit obligation for all pension plans	513	445
Pension Plan [Member] \| Foreign [Member]
Defined Benefit Plan Disclosure [Line Items]
Non-current assets	79	59
Current liabilities	(2)	(2)
Non-current liabilities	(57)	(64)
Total net amount recognized	$ 20	$ (7)

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Acquisitions and Divestitures - Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisition (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Apr. 02, 2018
Fair Value, Liabilities assumed:
Goodwill, net		$ 153	$ 153
ICOR International, Inc. [Member]
Fair Value, Assets acquired:
Fair Value, Accounts receivable - trade	$ 4			$ 4
Fair Value, Inventories	8			8
Fair Value,Property, plant, and equipment	1			1
Fair Value, Identifiable intangible asset:
Fair Value, Customer relationships	22			20
Fair Value, Total assets acquired	35			33
Fair Value, Liabilities assumed:
Fair Value, Accounts payable	1			1
Fair Value, Other accrued liabilities	1			1
Fair Value, Total liabilities assumed	2			2
Fair Value, Total identifiable net assets acquired	33			31
Goodwill, net	4			6
Fair Value, Net assets acquired	$ 37			$ 37
Weighted-average Useful Life (Years), Customer relationships	5 years
ICOR International, Inc. [Member] \| Adjustments [Member]
Fair Value, Identifiable intangible asset:
Fair Value, Customer relationships	$ 2
Fair Value, Total assets acquired	2
Fair Value, Liabilities assumed:
Fair Value, Total identifiable net assets acquired	2
Goodwill, net	$ (2)

Restructuring, Asset-Related, and Other Charges - Restructuring Program Schedule (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	$ 15	$ 16
(Credits) charges to income	17	20
Payments	(25)	(21)
Restructuring reserve, ending	7	15
Chemical Solutions Site Closures [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0	0
(Credits) charges to income	2	0
Payments	0	0
Restructuring reserve, ending	2	0
2015 Global Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0	1
(Credits) charges to income	0	(1)
Payments	0	0
Restructuring reserve, ending	0	0
2017 Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	1	10
(Credits) charges to income	(1)	0
Payments	0	(9)
Restructuring reserve, ending	0	1
2018 Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0	5
(Credits) charges to income	0	(1)
Payments	0	(4)
Restructuring reserve, ending	0	0
2019 Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	14	0
(Credits) charges to income	3	22
Payments	(15)	(8)
Restructuring reserve, ending	2	14
2020 Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0	0
(Credits) charges to income	13	0
Payments	(10)	0
Restructuring reserve, ending	$ 3	$ 0

Equity - Narrative (Details) - USD ($)		12 Months Ended
Equity - Narrative (Details) - USD ($)	May 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 13, 2019	Aug. 01, 2018	Nov. 30, 2017
Equity Class Of Treasury Stock [Line Items]
Purchase of common stock value under the share repurchase program		$ 1,072,000,000	$ 1,072,000,000
Common Stock [Member] \| 2017 Share Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 500,000,000
Stock repurchase program effective date		Nov. 30, 2017
Average share price	$ 49.58
Stock repurchases program date of announced to public		Dec. 01, 2017
Purchase of common stock under the share repurchase program	10,085,647
Common Stock [Member] \| 2017 Share Repurchase Program [Member] \| Maximum [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount							$ 500,000,000
Common Stock [Member] \| 2018 Share Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount		$ 0			$ 1,000,000,000	$ 750,000,000
Stock repurchase program effective date		Aug. 01, 2018
Average share price			$ 36.24	$ 39.31
Stock repurchases program date of announced to public		Aug. 02, 2018
Purchase of common stock under the share repurchase program			8,895,142	6,350,857
Stock repurchase program expiration date		Dec. 31, 2020
Stock repurchase program extended expiration date		Dec. 31, 2022
Purchase of common stock value under the share repurchase program			$ 322,000,000	$ 250,000,000
Remaining available amount of common stock under the share repurchase program		$ 428,000,000
Common Stock [Member] \| 2018 Share Repurchase Program [Member] \| Maximum [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount						$ 750,000,000

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Lease Assets and Lease Liabilities and their Balance Sheet Locations

The following table sets forth the Company’s lease assets and lease liabilities and their balance sheet locations at December 31, 2020 and 2019.

		December 31,
	Balance Sheet Location	2020		2019
Lease assets:
Operating lease right-of-use assets	Operating lease right-of-use assets	$	236	$	294
Finance lease assets	Property, plant, and equipment, net (Note 13)		69		58
Total lease assets		$	305	$	352

Lease liabilities:
Current:
Operating lease liabilities	Other accrued liabilities (Note 19)	$	57	$	66
Finance lease liabilities	Short-term and current maturities of long-term debt (Note 20)		7		5
Total current lease liabilities			64		71
Non-current:
Operating lease liabilities	Operating lease liabilities		194		245
Finance lease liabilities	Long-term debt, net (Note 20)		67		54
Total non-current lease liabilities			261		299
Total lease liabilities		$	325	$	370

Schedule of Components of Company's Lease Cost

The following table sets forth the components of the Company’s lease cost for the years ended December 31, 2020 and 2019.

	Year Ended December 31,
	2020		2019
Operating lease cost	$	88	$	99
Short-term lease cost		5		5
Variable lease cost		20		16

Finance lease cost:
Amortization of lease assets		8		5
Interest on lease liabilities		4		2
Total lease cost	$	125	$	127

Schedule of Cash Flows Related to Company's Leases

The following table sets forth the cash flows related to the Company’s leases for the years ended December 31, 2020 and 2019.

	Year Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	91	$	101
Operating cash flows from finance leases		4		2
Financing cash flows from finance leases		6		3

Non-cash lease liabilities activity:
Leased assets obtained in exchange for new operating lease liabilities	$	23	$	48
Leased assets obtained in exchange for new finance lease liabilities		19		62

Schedule of Weighted-Average Terms and Weighted-Average Discount Rates For Company's Leases

The following table sets forth the weighted-average terms and weighted-average discount rates for the Company’s leases at December 31, 2020 and 2019.

	December 31,
	2020			2019
Weighted-average remaining lease term (years):
Operating leases		8.6			8.5
Finance leases		7.9			9.2

Weighted-average discount rate:
Operating leases		5.00	%		5.10	%
Finance leases		5.40	%		5.90	%

Schedule of Company's Lease Liabilities' Maturities for Next Five Years and Thereafter

The following table sets forth the Company’s lease liabilities’ maturities for the next five years and thereafter.

	Operating Leases		Finance Leases		Total
2021	$	69	$	12	$	81
2022		52		11		63
2023		37		11		48
2024		30		11		41
2025		24		11		35
Thereafter		94		35		129
Total lease payments		306		91		397
Less: Imputed interest		55		17		72
Present value of lease liabilities	$	251	$	74	$	325

Summary of Future Minimum Lease Payments Related to Chemours Discovery Hub Financing Obligation

The following table sets forth the Company’s minimum future payments due for the next five years and thereafter related to the Chemours Discovery Hub financing obligation.

2021	$	6
2022		6
2023		7
2024		7
2025		7
Thereafter		154
Total payments	$	187

Restructuring, Asset-Related, and Other Charges

12 Months Ended

Dec. 31, 2020

Restructuring And Related Activities [Abstract]

Restructuring, Asset-Related, and Other Charges

Note 7. Restructuring, Asset-related, and Other Charges

The following table sets forth the components of the Company’s restructuring, asset-related, and other charges for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019		2018
Restructuring and other charges:
Employee separation charges	$	17	$	21	$	14
Decommissioning and other charges		41		23		31
Total restructuring and other charges		58		44		45
Asset-related charges (1)		22		43		4
Total restructuring, asset-related, and other charges	$	80	$	87	$	49

(1)

Asset-related charges for the years ended December 31, 2020 and 2019 are discussed in further detail below. Asset-related charges for the year ended December 31, 2018 included $4 for a pre-tax goodwill impairment charge in the Company’s Chemical Solutions segment.

The following table sets forth the impacts of the Company’s restructuring programs to segment earnings for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Restructuring charges:
Plant and product line closures:
Chemical Solutions	$	4		$	2		$	4
Corporate and Other		1			18			9
Total plant and product line closures		5			20			13
2017 Restructuring Program:
Titanium Technologies		—			1			1
Thermal & Specialized Solutions		—			1			4
Advanced Performance Materials		—			1			5
Chemical Solutions		—			—			2
Corporate and Other		(1	)		—			15
Total 2017 Restructuring Program		(1	)		3			27
2018 Restructuring Program:
Corporate and Other		—			(1	)		5
Total 2018 Restructuring Program		—			(1	)		5
2019 Restructuring Program:
Titanium Technologies		—			5			—
Thermal & Specialized Solutions		1			3			—
Advanced Performance Materials		2			4			—
Chemical Solutions		—			1			—
Corporate and Other		—			9			—
Total 2019 Restructuring Program		3			22			—
2020 Restructuring Program:
Titanium Technologies		3			—			—
Thermal & Specialized Solutions		1			—			—
Advanced Performance Materials		3			—			—
Chemical Solutions		1			—			—
Corporate and Other		5			—			—
Total 2020 Restructuring Program		13			—			—
Total restructuring charges		20			44			45
Asset-related charges:
Titanium Technologies		—			9			—
Advanced Performance Materials		10			—			—
Chemical Solutions		8			34			4
Corporate and Other		4			—			—
Total asset-related charges		22			43			4
Other charges:
Titanium Technologies		1			—			—
Chemical Solutions		37			—			—
Total other charges		38			—			—
Total restructuring, asset-related, and other charges	$	80		$	87		$	49

Plant and Product Line Closures and Asset-related Charges

Titanium Technologies

In December 2019, in an effort to improve the profitability of the Company’s Titanium Technologies segment, management approved the discontinuation of the titanium tetrachloride production line at the Company’s New Johnsonville, Tennessee site. For the year ended December 31, 2019, the Company recorded accelerated depreciation of $9. The Company does not expect to incur material decommissioning and dismantling-related charges related to the discontinuation of this production line.

Advanced Performance Materials

In the year ended December 31, 2020, in connection with various property, plant, and equipment and other asset impairments, the Company recorded asset-related charges of $10.

Chemical Solutions

In the fourth quarter of 2015, the Company announced its completion of the strategic review of its Reactive Metals Solutions business and the decision to stop production at its Niagara Falls, New York manufacturing plant. The Company recorded additional decommissioning and dismantling-related charges of $2, $2, and $4 for the years ended December 31, 2020, 2019, and 2018, respectively. The Company expects to incur and spend approximately $3 related to additional restructuring charges for similar activities through 2021, all of which relate to Chemical Solutions. As of December 31, 2020, the Company incurred, in the aggregate, $40 in restructuring charges related to these activities, excluding asset-related charges.

In the third quarter of 2019, in an effort to improve the profitability of the Company’s Chemical Solutions segment, the Company announced plans to exit its Methylamines and Methylamides business at its Belle, West Virginia manufacturing plant, which culminated in the completed exit and sale of the business in the fourth quarter of 2019. As a result, for the year ended December 31, 2019, the Company recorded accelerated depreciation of $34. The Company does not expect to incur additional charges related to the exit of the Methylamines and Methylamides business. Refer to “Note 4 – Acquisitions and Divestitures” for further details.

In the second quarter of 2020, the Company completed a business review of its Aniline business. It was determined that the Aniline business is not core to the Company’s future strategy, and production was ceased at the Pascagoula, Mississippi manufacturing plant in the fourth quarter of 2020. As a result, during the year ended December 31, 2020, the Company recorded asset-related charges of $10, which are primarily comprised of $6 for property, plant, and equipment and other asset impairments, as well as $4 for environmental remediation liabilities to be paid over a period of approximately 16 years. The Company also recorded employee separation-related liabilities of $2. In conjunction with this decision, approximately 75 employees will separate from the Company in 2021 and will be subject to our customary involuntary termination benefits. The associated severance payments will also be made in 2021. The Company expects to incur approximately $12 in additional restructuring charges related to decommissioning, dismantling, and other costs in connection with the exit of its Pascagoula site by the end of 2021, all of which relate to Chemical Solutions. The future net cash outflows associated with these exit costs are not expected to be material.

Corporate and Other

In the first quarter of 2018, the Company began a project to demolish and remove several dormant, unused buildings at its Chambers Works site in Deepwater, New Jersey, which were assigned to Chemours in connection with its Separation from EID and never used in Chemours’ operations. For the years ended December 31, 2020, 2019, and 2018, the Company incurred $1, $18, and $9, respectively, in decommissioning and dismantling-related charges associated with these efforts. As of December 31, 2020, the Company has incurred, in the aggregate, $28 in restructuring charges related to these activities. The Company does not currently expect to incur additional charges related to these activities at its Chambers Works site through the end of 2021, and any remaining future charges and cash outflows associated with these activities are not expected to be material.

2017 Restructuring Program

In 2017, the Company announced certain restructuring activities designed to further the cost savings and productivity improvements outlined under management’s transformation plan. These activities include, among other efforts: (i) outsourcing and further centralizing certain business process activities; (ii) consolidating existing, outsourced third-party information technology (“IT”) providers; and, (iii) implementing various upgrades to the Company’s current IT infrastructure. In connection with these corporate function efforts, the Company recorded $3, and $18, in restructuring-related charges for years ended December 31, 2019, and 2018, respectively.

In 2017, the Company also announced a voluntary separation program (“VSP”) for certain eligible U.S. employees in an effort to better manage the anticipated future changes to its workforce. Employees who volunteered for and were accepted under the VSP received certain financial incentives above the Company’s customary involuntary termination benefits to end their employment with Chemours after providing a mutually agreed-upon service period. Approximately 300 employees separated from the Company through the end of 2018. An accrual representing the majority of these termination benefits, amounting to $18, was recognized in the fourth quarter of 2017. The remaining $9 of incremental, one-time financial incentives under the VSP were recognized over the period that each participating employee continued to provide service to Chemours.

The Company recorded charges for its 2017 Restructuring Program of $3 and $27 for the years ended December 31, 2019 and 2018, respectively. The cumulative amount incurred, in the aggregate, for the Company’s 2017 Restructuring Program amounted to $61 at December 31, 2020. The Company has substantially completed all actions related to this program.

2018 Restructuring Program

In the fourth quarter of 2018, management initiated a restructuring program of the Company’s corporate functions and recorded the related estimated severance costs of $5. The Company has substantially completed all actions related to this program.

2019 Restructuring Program

In the third quarter of 2019, management initiated a severance program of the Company’s corporate functions and businesses, and the majority of employees separated from the Company during the fourth quarter of 2019. For the years ended December 31, 2020 and 2019, the Company recorded charges for its 2019 Restructuring Program of $3 and $22, respectively. As of December 31, 2020, the cumulative amount incurred, in the aggregate, for the Company’s 2019 Restructuring Program amounted to $25. The Company believes that it has completed incurring severance costs for this program. At December 31, 2020 and 2019, $2 and $14 remained as an employee separation-related liability, respectively, and the remaining severance payments are expected to be made by the end of 2021.

2020 Restructuring Program

In the first quarter of 2020, management initiated the first phase of a severance program that was largely attributable to further aligning the cost structure of the Company’s businesses and corporate functions with its strategic and financial objectives. A second phase of this program was initiated in the third quarter of 2020. As of December 31, 2020, the cumulative amount incurred, in the aggregate, for the Company’s 2020 Restructuring Program amounted to $13. The Company believes that it has completed incurring severance costs for this program. At December 31, 2020, $3 remained as an employee separation-related liability, and the remaining severance payments are expected to be made by the end of 2021.

The following table sets forth the change in the Company’s employee separation-related liabilities associated with its restructuring programs for the years ended December 31, 2020 and 2019.

	Chemical Solutions Site Closures		2015 Global Restructuring Program			2017 Restructuring Program			2018 Restructuring Program			2019 Restructuring Program			2020 Restructuring Program			Total
Balance at January 1, 2019	$	—	$	1		$	10		$	5		$	—		$	—		$	16
(Credits) charges to income		—		(1	)		—			(1	)		22			—			20
Payments		—		—			(9	)		(4	)		(8	)		—			(21	)
Balance at December 31, 2019		—		—			1			—			14			—			15
Charges (credits) to income		2		—			(1	)		—			3			13			17
Payments		—		—			—			—			(15	)		(10	)		(25	)
Balance at December 31, 2020	$	2	$	—		$	—		$	—		$	2		$	3		$	7

At December 31, 2020 and 2019, there were no significant outstanding liabilities related to the Company’s decommissioning and other restructuring-related charges.

Other Charges

Chemical Solutions

The Company is currently in the process of constructing a new Mining Solutions facility in Gomez Palacio, Durango, Mexico. Following the commencement of the construction, several lawsuits were filed, which resulted in suspension of construction and nullification of the Company’s environmental permit at the site. These matters are further discussed in “Note 22 – Commitments and Contingent Liabilities”. In connection with the construction work at the site, the Company had previously entered into an agreement with a third-party services provider. In the fourth quarter of 2020, the Company entered into dispute resolution with the third-party services provider, resulting in a $26 charge related to contract termination fees, as well as immediate recognition of $11 of other related prepaid costs. At December 31, 2020, the Company had $146 of long-lived assets under construction at the facility. The Company ultimately believes that it will be successful in obtaining its permits and will continue with its planned development of the site. While the Company currently believes these amounts are recoverable, an unfavorable ruling by the Mexican courts on its appeals could lead to a fixed asset impairment assessment that potentially impairs all or a portion of the facility, resulting in a non-cash charge in the Company’s results of operations at that time.

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020
Summary Of Significant Accounting Policies [Line Items]
Change In Accounting Principle Accounting Standards Update Adopted	true
Change In Accounting Principle Accounting Standards Update Adoption Date	Jan. 01, 2020
Change In Accounting Principle Accounting Standards Update Immaterial Effect	true
Accounting Standards Update Extensible List	us-gaap:AccountingStandardsUpdate201613Member
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, useful life	20 years
Long-lived asset estimated remaining useful life	25 years
Maximum [Member] \| Equipment and Buildings [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful Life	25 years
Maximum [Member] \| Software Development [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful Life	7 years
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, useful life	5 years
Long-lived asset estimated remaining useful life	2 years
Minimum [Member] \| Equipment and Buildings [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful Life	15 years
Minimum [Member] \| Software Development [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful Life	5 years
Consolidated Subsidiaries [Member] \| Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Voting stock ownership percentage	50.00%
Consolidated Subsidiaries [Member] \| Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Voting stock ownership percentage	20.00%
Consolidated Subsidiaries [Member] \| Outside Shareholders [Member] \| Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Non controlling interests, ownership percentage by parent	100.00%

Long-term Employee Benefits (Assumptions) (Details)	12 Months Ended
Long-term Employee Benefits (Assumptions) (Details)	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	1.00%	1.40%
Rate of compensation increase	2.50%	2.60%
Interest crediting rate	1.30%	1.50%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	1.40%	2.00%
Rate of compensation increase	2.50%	2.50%
Expected return on plan assets	3.20%	4.10%

Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory U.S. federal income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	(6.10%)	5.60%	0.60%
Lower effective tax rate on international operations, net	(19.00%)	22.70%	(3.80%)
Depletion	(3.40%)	4.00%	(0.50%)
Exchange gains	0.00%	5.60%	(0.30%)
Provision to return and other adjustments	(20.60%)	3.20%	(0.80%)
Valuation allowance	7.30%	(6.50%)	(1.30%)
Net impact of U.S. tax reform	0.00%	0.00%	(0.90%)
Stock-based compensation	0.00%	11.40%	(1.20%)
Executive compensation limitation	0.60%	(7.30%)	0.30%
R&D credit	(3.80%)	4.80%	(0.40%)
Uncertain tax positions	(0.50%)	(5.60%)	0.20%
Other, net	2.20%	(0.80%)	0.90%
Total effective tax rate	(22.30%)	58.10%	13.80%

Debt - Schedule of Debt Principal Maturities (Details) - Senior Debt [Member] $ in Millions	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
2021	$ 13
2022	13
2023	13
2024	13
2025	1,990
Thereafter	1,851
Total principal maturities on debt	$ 3,893

Income Taxes - Summary of Valuation Allowance (Details) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at January 1,	$ 10	$ 2	$ 17
Net charges to income tax expense	14	8	0
Release of valuation allowance	0	0	(15)
Balance at December 31,	$ 24	$ 10	$ 2

Income Taxes - Schedule of Components of Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current tax expense (benefit):
U.S. federal	$ 4	$ 13	$ 23
U.S. state and local	1	(1)	4
International	75	79	110
Total current tax expense	80	91	137
Deferred tax expense (benefit):
U.S. federal	(86)	(77)	20
U.S. state and local	(12)	(5)	3
International	(22)	(81)	(1)
Total deferred tax (benefit) expense	(120)	(163)	22
Total (benefit from) provision for income taxes	$ (40)	$ (72)	$ 159

Debt - Estimated Fair Values of Senior Debt Issues (Details) € in Millions, $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 EUR (€)
Debt Instrument [Line Items]
Less: Unamortized issue discounts	$ (7)		$ (8)
Less: Unamortized debt issuance costs	(28)		(28)
Senior Secured Tranche B-2 U.S Dollar Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	875		884
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	417	€ 340	383	€ 344
Securitization Facility [Member]
Debt Instrument [Line Items]
Short-term debt, Carrying Value			110
6.625% Senior Unsecured Notes Due May 2023 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value			908
7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	750		750
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	551	€ 450	501	€ 450
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	800
5.375% Senior Unsecured Notes Due May 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	500		500
Level 2 [Member]
Debt Instrument [Line Items]
Total senior debt principal, Carrying Value	3,893		4,036
Total senior debt principal, Fair Value	3,957		3,930
Less: Unamortized issue discounts	(7)		(8)
Less: Unamortized debt issuance costs	(28)		(28)
Total senior debt, net	3,858		4,000
Level 2 [Member] \| Senior Secured Tranche B-2 U.S Dollar Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	875		884
Long-term debt, Fair Value	862		865
Level 2 [Member] \| Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	417		383
Long-term debt, Fair Value	413		378
Level 2 [Member] \| Securitization Facility [Member]
Debt Instrument [Line Items]
Short-term debt, Carrying Value			110
Short-term debt, Fair Value			110
Level 2 [Member] \| 6.625% Senior Unsecured Notes Due May 2023 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value			908
Long-term debt, Fair Value			917
Level 2 [Member] \| 7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	750		750
Long-term debt, Fair Value	774		755
Level 2 [Member] \| 4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	551		501
Long-term debt, Fair Value	551		455
Level 2 [Member] \| 5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	800
Long-term debt, Fair Value	821
Level 2 [Member] \| 5.375% Senior Unsecured Notes Due May 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	500		500
Long-term debt, Fair Value	$ 536		$ 450

Investments in Affiliates - Schedule of Changes in Investments in Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investments And Joint Ventures [Abstract]
Beginning Balance	$ 162	$ 160	$ 173
Equity in earnings of affiliates	23	29	43
Dividends	(25)	(28)	(58)
Currency translation and other	7	1	2
Ending Balance	$ 167	$ 162	$ 160

Debt - Components of Debt (Parenthetical) (Details) € in Millions, $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 EUR (€)
Debt Instrument [Line Items]
Financing obligation	$ 94		$ 95
Discovery Hub [Member]
Debt Instrument [Line Items]
Financing obligation	94		95
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 417	€ 340	383	€ 344
6.625% Senior Unsecured Notes Due May 2023 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 908
Debt instrument interest rate	6.625%	6.625%	6.625%	6.625%
7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 750		$ 750
Debt instrument interest rate	7.00%	7.00%	7.00%	7.00%
5.375% Senior Unsecured Notes Due May 2027 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 500		$ 500
Debt instrument interest rate	5.375%	5.375%	5.375%	5.375%
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 551	€ 450	$ 501	€ 450
Debt instrument interest rate	4.00%	4.00%	4.00%	4.00%
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 800
Debt instrument interest rate	5.75%	5.75%	5.75%	5.75%

Commitments and Contingent Liabilities - Schedule of Components of Accrued Litigation (Details) - USD ($)
$ in Millions

Dec. 31, 2020

Dec. 31, 2019

Loss Contingencies [Line Items]

Accrued litigation

$ 88

$ 60

Asbestos [Member]

Loss Contingencies [Line Items]

Accrued litigation

PFOA [Member]

Loss Contingencies [Line Items]

Accrued litigation

^[1]

All Other Matters [Member]

Loss Contingencies [Line Items]

Accrued litigation

$ 4

$ 6

[1]	At December 31, 2020, PFOA includes $29 associated with the Company’s portion of the costs to settle PFOA multi-district litigation in Ohio.

Accounts Payable (Tables)

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Schedule of Accounts Payable

The following table sets forth the components of the Company’s accounts payable at December 31, 2020 and 2019.

	December 31,
	2020		2019
Trade payables	$	820	$	901
VAT and other payables		24		22
Total accounts payable	$	844	$	923

Net Sales - Summary of Contract Balances from Contracts with Customers (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Accounts receivable - trade, net	$ 449	$ 602
Deferred revenue	12	15
Customer rebates	$ 69	$ 72

Investments in Affiliates

12 Months Ended

Dec. 31, 2020

Equity Method Investments And Joint Ventures [Abstract]

Investments in Affiliates

Note 16. Investments in Affiliates

The Company holds investments in companies where it, directly or indirectly, owns 20% to 50% of the voting stock, or has the ability to exercise significant influence over the operating and financial policies of the investee.

The following table sets forth the jurisdiction, carrying value, and ownership percentages of the Company’s investments in affiliates at December 31, 2020 and 2019.

		December 31, 2020			December 31, 2019
Investee	Jurisdiction	Carrying Value		Ownership	Carrying Value		Ownership
Chemours-Mitsui Fluorochemicals Company, Ltd.	Japan	$	104	50.0%	$	96	50.0%
The Chemours Chenguang Fluoromaterials Company Limited	China		32	50.0%		33	50.0%
Changshu 3F Zhonghao New Chemical Materials Co., Ltd.	China		31	10.0%		33	10.0%
		$	167		$	162

The following table sets forth the changes in the Company’s investments in affiliates for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Balance at January 1,	$	162		$	160		$	173
Equity in earnings of affiliates		23			29			43
Dividends		(25	)		(28	)		(58	)
Currency translation and other		7			1			2
Balance at December 31,	$	167		$	162		$	160

The Company engages in transactions with its equity method investees in the ordinary course of business. For the years ended December 31, 2020, 2019, and 2018, net sales to the Company’s equity method investees amounted to $98, $135, and $143, respectively, and purchases from the Company’s equity method investees amounted to $133, $249, and $125, respectively.

Earnings Per Share of Common Stock (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the reconciliations of the numerators and denominators for the Company’s basic and diluted earnings per share calculations for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019			2018
Numerator:
Net income (loss) attributable to Chemours	$	219	$	(52	)	$	995
Denominator:
Weighted-average number of common shares outstanding - basic		164,681,827		164,816,839			176,968,554
Dilutive effect of the Company’s employee compensation plans (1)		1,664,702		—			5,603,467
Weighted-average number of common shares outstanding - diluted (1)		166,346,529		164,816,839			182,572,021

Basic earnings (loss) per share of common stock	$	1.33	$	(0.32	)	$	5.62
Diluted earnings (loss) per share of common stock (1)		1.32		(0.32	)		5.45

(1)

In periods where the Company incurs a net loss, the impact of potentially dilutive securities is excluded from the calculation of earnings per share as its inclusion would have an anti-dilutive effect.

Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share

The following table sets forth the average number of stock options that were anti-dilutive and, therefore, were not included in the Company’s diluted earnings per share calculations for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019		2018
Average number of stock options		3,839,845		2,206,609		393,016

Long-term Employee Benefits (Cash Flows Defined Benefit Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2021	$ 10
2022	10
2023	13
2024	15
2025	15
2026 to 2030	98
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer	20	$ 19	$ 15
Estimated future employer contributions in next fiscal year	$ 16

Acquisitions and Divestitures - Narrative (Details)	1 Months Ended				3 Months Ended	12 Months Ended
Acquisitions and Divestitures - Narrative (Details)	Aug. 31, 2019 USD ($)	Apr. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2016 a	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Apr. 02, 2018 USD ($)
Business Acquisition [Line Items]
Goodwill						$ 153,000,000	$ 153,000,000
Recognized gain on sale of land			$ 42,000,000			8,000,000	10,000,000	$ 45,000,000
Net cash proceeds of transaction			39,000,000			5,000,000	9,000,000	46,000,000
Environmental remediation activities amount			$ 3,000,000			$ 71,000,000	200,000,000	101,000,000
Linden, New Jersey [Member]
Business Acquisition [Line Items]
Number of acre of land for sale \| a				210
Southern Ionics Minerals, LLC [Member]
Business Acquisition [Line Items]
Estimated total consideration	$ 25,000,000
Upfront payment	10,000,000
Installment payment	10,000,000				$ 10,000,000
Contingent considerations with estimated fair value	5,000,000
Goodwill	$ 0
Southern Ionics Minerals, LLC [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Acquisition-related expenses							1,000,000
ICOR International, Inc. [Member]
Business Acquisition [Line Items]
Goodwill								4,000,000	$ 6,000,000
Total consideration in all cash acquisition		$ 37,000,000
ICOR International, Inc. [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Acquisition-related expenses								$ 1,000,000
Methylamines and Methylamides Business [Member]
Business Acquisition [Line Items]
Maximum agreed loss on sale of business under asset purchase agreement							2,000,000
Cash proceeds received							2,000,000
Accelerated depreciation							34,000,000
Additional pre-tax loss on sale							$ 2,000,000

Long-term Employee Benefits (Change in Benefit Obligation and Plan Assets) (Details) - Pension Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Employer contributions	$ 20	$ 19	$ 15
Foreign [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	507	1,168
Service cost	15	13	14
Interest cost	6	17	16
Plan participants’ contributions	2	2
Actuarial loss	33	313
Benefits paid	(2)	(37)
Plan amendments		(5)
Settlements and transfers	(24)	(945)
Currency translation	47	(19)
Benefit obligation at end of year	584	507	1,168
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	500	1,268
Actual return on plan assets	55	217
Employer contributions	20	19
Plan participants’ contributions	2	2
Benefits paid	(2)	(37)
Settlements and transfers	(21)	(945)
Currency translation	50	(24)
Fair value of plan assets at end of year	604	500	$ 1,268
Total funded status at end of year	$ 20	$ (7)

Geographic and Segment Information - Schedule of Net Sales and Property, Plant and Equipment, Net by Geographical Area (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	$ 4,969	$ 5,526	$ 6,638
Property, Plant, and Equipment, Net	3,474	3,559	3,291
North America [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	1,914	2,144	2,378
Property, Plant, and Equipment, Net	2,461	2,533	2,279
Asia Pacific [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	1,384	1,543	1,720
Property, Plant, and Equipment, Net	121	121	124
Europe, the Middle East, and Africa [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	1,086	1,163	1,685
Property, Plant, and Equipment, Net	324	294	293
Latin America [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	585	676	855
Property, Plant, and Equipment, Net	$ 568	$ 611	$ 595

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

Note 15. Goodwill and Other Intangible Assets, Net

Goodwill, Net

The following table sets forth the changes in the carrying amount of the Company’s goodwill, net by segment for the years ended December 31, 2020 and 2019.

	December 31,
	2020		2019
Titanium Technologies:
Balance at January 1,	$	13	$	13
Balance at December 31,		13		13
Thermal & Specialized Solutions:
Balance at January 1,		33		33
Balance at December 31,		33		33
Advanced Performance Materials:
Balance at January 1,		56		56
Balance at December 31,		56		56
Chemical Solutions:
Balance at January 1,		51		51
Balance at December 31,		51		51
Total goodwill, net	$	153	$	153

Chemours consists of four operating segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Company’s reporting units are consistent with its operating segments, with the exception of the Chemical Solutions segment, which is comprised of the Mining Solutions and Performance Chemicals and Intermediates reporting units. For the years ended December 31, 2020 and 2019, the Company did not have any adjustments to or transfers of its goodwill balances, which are recorded in U.S. dollars. The Company tested the goodwill balances attributable to each of its reporting units for potential impairment on October 1, 2020 and 2019, the dates of Chemours’ annual goodwill assessment. No goodwill impairments were recorded for the years ended December 31, 2020 and 2019, as the fair values of the Company’s reporting units that carry goodwill exceeded each respective reporting unit’s carrying amount on October 1, 2020 and 2019.

The total accumulated impairment losses included in the Company’s goodwill, net balance at December 31, 2020 and 2019 amounted to $4.

Other Intangible Assets, Net

The following table sets forth the gross carrying amounts and accumulated amortization of the Company’s other intangible assets by major class at December 31, 2020 and 2019.

	December 31, 2020							December 31, 2019
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Customer lists	$	9	$	(9	)	$	—	$	9	$	(8	)	$	1
Customer relationships		22		(12	)		10		22		(8	)		14
Patents		19		(19	)		—		19		(19	)		—
Purchased trademarks		5		(3	)		2		5		(3	)		2
Purchased and licensed technology		3		(3	)		—		3		(3	)		—
Other (1)		10		(8	)		2		10		(6	)		4
Total other intangible assets	$	68	$	(54	)	$	14	$	68	$	(47	)	$	21

(1)

Represents non-cash favorable supply contracts acquired in connection with the sale of the Sulfur business and recognized during the third quarter of 2016 based on the present value of the difference between their contractual cash flows and estimated cash flows had the contracts been executed at a determinable market price. These contract intangibles will be amortized to cost of goods sold over the remaining life of the supply contracts through 2021.

The aggregate pre-tax amortization expense for definite-lived intangible assets was $7, $7, and $6 for the years ended December 31, 2020, 2019, and 2018, respectively. The estimated aggregate pre-tax amortization expense for 2021, 2022, 2023, 2024, and 2025 is $7, $5, $1, less than $1, and less than $1, respectively. Definite-lived intangible assets are amortized over their estimated useful lives, generally for periods ranging from five to 20 years. The reasonableness of the useful lives of these assets is periodically evaluated. The Company does not have any indefinite-lived intangible assets.

Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table sets forth the changes in the carrying amount of the Company’s goodwill, net by segment for the years ended December 31, 2020 and 2019.

	December 31,
	2020		2019
Titanium Technologies:
Balance at January 1,	$	13	$	13
Balance at December 31,		13		13
Thermal & Specialized Solutions:
Balance at January 1,		33		33
Balance at December 31,		33		33
Advanced Performance Materials:
Balance at January 1,		56		56
Balance at December 31,		56		56
Chemical Solutions:
Balance at January 1,		51		51
Balance at December 31,		51		51
Total goodwill, net	$	153	$	153

Schedule of Other Intangible Assets

The following table sets forth the gross carrying amounts and accumulated amortization of the Company’s other intangible assets by major class at December 31, 2020 and 2019.

	December 31, 2020							December 31, 2019
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Customer lists	$	9	$	(9	)	$	—	$	9	$	(8	)	$	1
Customer relationships		22		(12	)		10		22		(8	)		14
Patents		19		(19	)		—		19		(19	)		—
Purchased trademarks		5		(3	)		2		5		(3	)		2
Purchased and licensed technology		3		(3	)		—		3		(3	)		—
Other (1)		10		(8	)		2		10		(6	)		4
Total other intangible assets	$	68	$	(54	)	$	14	$	68	$	(47	)	$	21

(1)

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Components of Debt

The following table sets forth the components of the Company’s debt at December 31, 2020 and 2019.

	December 31,
	2020			2019
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	875		$	884
Tranche B-2 euro term loan due April 2025 (€340 at December 31, 2020 and €344 at December 31, 2019)		417			383
Senior unsecured notes:
6.625% due May 2023		—			908
7.000% due May 2025		750			750
4.000% due May 2026 (€450 at December 31, 2020 and 2019)		551			501
5.375% due May 2027		500			500
5.750% due November 2028		800			—
Securitization Facility		—			110
Finance lease liabilities		74			59
Financing obligation (1)		94			95
Other		—			6
Total debt principal		4,061			4,196
Less: Unamortized issue discounts		(7	)		(8	)
Less: Unamortized debt issuance costs		(28	)		(28	)
Less: Short-term and current maturities of long-term debt		(21	)		(134	)
Total long-term debt, net	$	4,005		$	4,026

(1)

At December 31, 2020 and 2019, financing obligation includes $94 and $95, respectively, in connection with the financed portion of the Chemours Discovery Hub. Refer to “Note 14 – Leases” for further details.

Schedule of Debt Principal Maturities

The following table sets forth the Company’s debt principal maturities for the next five years and thereafter.

2021	$	13
2022		13
2023		13
2024		13
2025		1,990
Thereafter		1,851
Total principal maturities on debt	$	3,893

Estimated Fair Values of Senior Debt Issues

The following table sets forth the estimated fair values of the Company’s senior debt issues, which are based on quotes received from third-party brokers, and are classified as Level 2 financial instruments in the fair value hierarchy. The carrying value of borrowings under the Securitization Facility approximate fair value based on the facility’s short-term nature and maturity.

	December 31, 2020					December 31, 2019
	Carrying Value			Fair Value		Carrying Value			Fair Value
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	875		$	862	$	884		$	865
Tranche B-2 euro term loan due April 2025 (€340 at December 31, 2020 and €344 at December 31, 2019)		417			413		383			378
Senior unsecured notes:
6.625% due May 2023		—			—		908			917
7.000% due May 2025		750			774		750			755
4.000% due May 2026 (€450 at December 31, 2020 and 2019)		551			551		501			455
5.375% due May 2027		500			536		500			450
5.750% due November 2028		800			821		—			—
Securitization Facility		—			—		110			110
Total senior debt principal		3,893		$	3,957		4,036		$	3,930
Less: Unamortized issue discounts		(7	)				(8	)
Less: Unamortized debt issuance costs		(28	)				(28	)
Total senior debt, net	$	3,858				$	4,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Environmental Remediation Liabilites and Balance Sheet Locations (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Environmental Remediation [Line Items]
Current environmental remediation	$ 95	$ 74
Long-term environmental remediation	295	332
Total environmental remediation	390	406
Other Accrued Liabilities [Member]
Environmental Remediation [Line Items]
Current environmental remediation	95	74
Other Liabilities [Member]
Environmental Remediation [Line Items]
Long-term environmental remediation	$ 295	$ 332

Accounts and Notes Receivable, Net - (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts Notes And Loans Receivable [Line Items]
Bad debt expense	$ 3,000,000
Maximum [Member]
Accounts Notes And Loans Receivable [Line Items]
Bad debt expense		$ 1,000,000	$ 1,000,000

Geographic and Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 4,969	$ 5,526	$ 6,638
Adjusted EBITDA	1,063	1,163	1,902
Depreciation and amortization	320	311	284
Equity in earnings of affiliates	23	29	43
Total assets	7,082	7,258	7,362
Investments in affiliates	167	162	160	$ 173
Purchases of property, plant, and equipment	267	481	498
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	4,969	5,526	6,638
Adjusted EBITDA	1,063	1,163	1,902
Depreciation and amortization	290	279	256
Equity in earnings of affiliates	23	29	43
Total assets	5,222	5,447	5,721
Investments in affiliates	167	162	160
Purchases of property, plant, and equipment	251	362	440
Operating Segments [Member] \| Titanium Technologies [Member]
Segment Reporting Information [Line Items]
Net sales	2,402	2,345	3,174
Adjusted EBITDA	510	505	1,055
Depreciation and amortization	128	121	119
Total assets	2,130	2,291	2,354
Purchases of property, plant, and equipment	89	121	91
Operating Segments [Member] \| Thermal & Specialized Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	1,105	1,318	1,497
Adjusted EBITDA	354	398	542
Depreciation and amortization	53	52	37
Equity in earnings of affiliates	6	11	17
Total assets	1,041	1,061	1,187
Investments in affiliates	66	64	61
Purchases of property, plant, and equipment	28	32	156
Operating Segments [Member] \| Advanced Performance Materials [Member]
Segment Reporting Information [Line Items]
Net sales	1,104	1,330	1,365
Adjusted EBITDA	126	180	241
Depreciation and amortization	88	84	80
Equity in earnings of affiliates	17	18	26
Total assets	1,520	1,521	1,557
Investments in affiliates	101	98	99
Purchases of property, plant, and equipment	109	169	118
Operating Segments [Member] \| Chemical Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	358	533	602
Adjusted EBITDA	73	80	64
Depreciation and amortization	21	22	20
Total assets	531	574	623
Purchases of property, plant, and equipment	$ 25	$ 40	$ 75

Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Other Liabilities Disclosure [Abstract]

Schedule of Other Liabilities

The following table sets forth the components of the Company’s other liabilities at December 31, 2020 and 2019.

	December 31,
	2020		2019
Employee-related costs (1)	$	108	$	113
Accrued litigation (2)		51		50
Environmental remediation (2)		295		332
Asset retirement obligations (2)		63		69
Deferred revenue		5		8
Miscellaneous (3)		68		61
Total other liabilities	$	590	$	633

(1)

Employee-related costs primarily represents liabilities associated with the Company’s long-term employee benefit plans.

(2)

Represents the long-term portions of accrued litigation, environmental remediation, and asset retirement obligations, which are discussed further in “Note 22 – Commitments and Contingent Liabilities”.

(3)

Miscellaneous primarily includes an accrued indemnification liability of $37 and $41 at December 31, 2020 and 2019, respectively.

Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Net [Abstract]

Schedule of Inventories

The following table sets forth the components of the Company’s inventories at December 31, 2020 and 2019.

	December 31,
	2020			2019
Finished products	$	579		$	589
Semi-finished products		180			189
Raw materials, stores, and supplies		433			559
Inventories before LIFO adjustment		1,192			1,337
Less: Adjustment of inventories to LIFO basis		(253	)		(258	)
Total inventories	$	939		$	1,079

Geographic and Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Net Sales and Property, Plant and Equipment, Net by Geographical Area

The following table sets forth the geographic locations of the Company’s net sales for the years ended and property, plant, and equipment, net as of December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020				2019				2018
	Net Sales (1)		Property, Plant, and Equipment, Net		Net Sales (1)		Property, Plant, and Equipment, Net		Net Sales (1)		Property, Plant, and Equipment, Net
North America	$	1,914	$	2,461	$	2,144	$	2,533	$	2,378	$	2,279
Asia Pacific		1,384		121		1,543		121		1,720		124
Europe, the Middle East, and Africa		1,086		324		1,163		294		1,685		293
Latin America (2)		585		568		676		611		855		595
Total	$	4,969	$	3,474	$	5,526	$	3,559	$	6,638	$	3,291

(1)

Net sales are attributed to countries based on customer location.

(2)

Latin America includes Mexico.

Schedule of Segment Information

The following table sets forth certain summary financial information for the Company’s reportable segments as of, and for the years ended, December 31, 2020, 2019, and 2018.

Year Ended December 31,	Titanium Technologies		Thermal & Specialized Solutions		Advanced Performance Materials		Chemical Solutions		Segment Total
2020
Net sales to external customers (1)	$	2,402	$	1,105	$	1,104	$	358	$	4,969
Adjusted EBITDA		510		354		126		73		1,063
Depreciation and amortization		128		53		88		21		290
Equity in earnings of affiliates		—		6		17		—		23
Total assets		2,130		1,041		1,520		531		5,222
Investments in affiliates		—		66		101		—		167
Purchases of property, plant, and equipment		89		28		109		25		251

2019
Net sales to external customers (1)	$	2,345	$	1,318	$	1,330	$	533	$	5,526
Adjusted EBITDA		505		398		180		80		1,163
Depreciation and amortization		121		52		84		22		279
Equity in earnings of affiliates		—		11		18		—		29
Total assets		2,291		1,061		1,521		574		5,447
Investments in affiliates		—		64		98		—		162
Purchases of property, plant, and equipment		121		32		169		40		362

2018
Net sales to external customers (1)	$	3,174	$	1,497	$	1,365	$	602	$	6,638
Adjusted EBITDA		1,055		542		241		64		1,902
Depreciation and amortization		119		37		80		20		256
Equity in earnings of affiliates		—		17		26		—		43
Total assets		2,354		1,187		1,557		623		5,721
Investments in affiliates		—		61		99		—		160
Purchases of property, plant, and equipment		91		156		118		75		440

(1)

Segment net sales to external customers are provided by product group in “Note 5 – Net Sales”.

Summary of Reconciliation for Summary Financial Information for Reportable Segments

The following table sets forth a reconciliation for instances in which the above summary financial information for the Company’s reportable segments does not sum to consolidated amounts.

Year Ended December 31,	Segment Total		Corporate and Other		Total Consolidated
2020
Depreciation and amortization	$	290	$	30	$	320
Total assets		5,222		1,860		7,082
Purchases of property, plant, and equipment		251		16		267

2019
Depreciation and amortization	$	279	$	32	$	311
Total assets		5,447		1,811		7,258
Purchases of property, plant, and equipment		362		119		481

2018
Depreciation and amortization	$	256	$	28	$	284
Total assets		5,721		1,641		7,362
Purchases of property, plant, and equipment		440		58		498

Reconciliation of Segment Adjusted EBITDA from Segments to Consolidated Income (Loss) Before Income Taxes

The following table sets forth a reconciliation of Segment Adjusted EBITDA to the Company’s consolidated income (loss) before income taxes for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Segment Adjusted EBITDA	$	1,063		$	1,163		$	1,902
Corporate and Other expenses (excluding items below)		(184	)		(143	)		(162	)
Interest expense, net		(210	)		(208	)		(195	)
Depreciation and amortization		(320	)		(311	)		(284	)
Non-operating pension and other post-retirement employee benefit income (cost) (1)		1			(368	)		27
Exchange (losses) gains, net		(26	)		(2	)		1
Restructuring, asset-related, and other charges (2)		(80	)		(87	)		(49	)
Loss on extinguishment of debt		(22	)		—			(38	)
Gain on sales of assets and businesses (3)		8			10			45
Transaction costs (4)		(2	)		(3	)		(9	)
Legal and environmental charges (5)		(49	)		(175	)		(82	)
Other charges		—			—			(1	)
Income (loss) before income taxes	$	179		$	(124	)	$	1,155

(1)

The year ended December 31, 2019 includes a $380 settlement loss related to a significant portion of the Company’s Netherlands pension plan, specific to the vested pension benefits of the inactive participants. Refer to “Note 27 – Long-term Employee Benefits” for further details.

(2)

Includes restructuring, asset-related, and other charges, which are discussed in further detail in “Note 7 – Restructuring, Asset-related, and Other Charges”.

(3)

The year ended December 31, 2020 includes a gain of $6 recognized in connection with the sale of the Company’s Oakley, California site. The year ended December 31, 2019 includes a non-cash gain of $9 recognized in connection with the sale of the Company’s Repauno, New Jersey site. The year ended December 31, 2018 includes gains of $3 and $42 recognized in connection with the sales of the Company’s East Chicago, Indiana and Linden, New Jersey sites, respectively.

(4)

Includes costs associated with the Company’s debt transactions, as well as accounting, legal, and bankers’ transaction costs incurred in connection with the Company’s strategic initiatives.

(5)

Legal charges pertain to litigation settlements, PFOA drinking water treatment accruals, and other legal charges. The year ended December 31, 2020 includes $29 incurred in connection with the Company’s portion of the costs to settle PFOA multi-district litigation in Ohio. Environmental charges pertain to management’s assessment of estimated liabilities associated with on-site remediation, off-site groundwater remediation, and toxicity studies related to Fayetteville. The year ended December 31, 2020 includes $5 primarily related to detailed engineering design for on-site remediation projects at Fayetteville, as well as $8 based on the aforementioned assessment associated with certain estimated liabilities at Fayetteville. The year ended December 31, 2019 includes $168 in additional charges related to the approved final Consent Order associated with certain matters at Fayetteville. The year ended December 31, 2018 includes $63 in additional charges for the estimated liability associated with Fayetteville. Refer to “Note 22 – Commitments and Contingent Liabilities” for further details.

Net Sales - Narrative (Details1) - Topic 606 [Member]	Dec. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	20.00%
Remaining performance obligations original expected period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	16.00%
Remaining performance obligations original expected period	1 year

Leases - Schedule of Cash Flows Related to Company's Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 91	$ 101
Operating cash flows from finance leases	4	2
Financing cash flows from finance leases	6	3	$ 0
Non-cash lease liabilities activity:
Leased assets obtained in exchange for new operating lease liabilities	23	48
Leased assets obtained in exchange for new finance lease liabilities	$ 19	$ 62

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 689
Other comprehensive (loss) income	(76)	$ 11	$ 30
Ending Balance	813	689
Net Investment Hedge [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(10)	(25)	(40)
Other comprehensive (loss) income	(66)	15	15
Ending Balance	(76)	(10)	(25)
Cash Flow Hedge [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	2	6	0
Other comprehensive (loss) income	(10)	(4)	6
Ending Balance	(8)	2	6
Currency Translation Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(231)	(233)	(158)
Other comprehensive (loss) income	111	2	(75)
Ending Balance	(120)	(231)	(233)
Defined Benefit Plans [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(110)	(312)	(244)
Other comprehensive (loss) income	4	202	(68)
Ending Balance	(106)	(110)	(312)
Accumulated Other Comprehensive (Loss) Income [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(349)	(564)	(442)
Other comprehensive (loss) income	39	215	(122)
Ending Balance	$ (310)	$ (349)	$ (564)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Earnings Per Share of Common Stock

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share of Common Stock

Note 10. Earnings Per Share of Common Stock

	Year Ended December 31,
	2020		2019			2018
Numerator:
Net income (loss) attributable to Chemours	$	219	$	(52	)	$	995
Denominator:
Weighted-average number of common shares outstanding - basic		164,681,827		164,816,839			176,968,554
Dilutive effect of the Company’s employee compensation plans (1)		1,664,702		—			5,603,467
Weighted-average number of common shares outstanding - diluted (1)		166,346,529		164,816,839			182,572,021

Basic earnings (loss) per share of common stock	$	1.33	$	(0.32	)	$	5.62
Diluted earnings (loss) per share of common stock (1)		1.32		(0.32	)		5.45

(1)

	Year Ended December 31,
	2020		2019		2018
Average number of stock options		3,839,845		2,206,609		393,016

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Environmental and other liabilities	$ 103	$ 99
Accrued litigation	21	37
Stock-based compensation and accrued employee benefits	50	29
Other assets and other accrued liabilities	43	19
Tax attribute carryforwards	134	96
Operating lease liability	60	75
Foreign tax credit carryforwards	7	18
Total deferred tax assets	418	373
Less: Valuation allowance	(24)	(10)
Total deferred tax assets, net	394	363
Deferred tax liabilities:
Pension and other liabilities	(12)	(7)
Property, plant, and equipment	(258)	(320)
Operating lease asset	(56)	(71)
Inventories and other assets	(8)	(43)
Total deferred tax liabilities	(334)	(441)
Deferred tax liabilities net		$ (78)
Deferred tax assets net	$ 60

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Capitalized repair and maintenance costs	$ 198	$ 148
Pension assets	79	59
Deferred income taxes	95	40
Miscellaneous	33	45
Total other assets	$ 405	$ 292

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Leases - Summary of Future Minimum Lease Payments Related to Chemours Discovery Hub Financing Obligation (Detail) $ in Millions	Dec. 31, 2020 USD ($)
Lessee Lease Description [Line Items]
2021	$ 12
2022	11
2023	11
2024	11
2025	11
Thereafter	35
Total lease payments	91
Discovery Hub [Member]
Lessee Lease Description [Line Items]
2021	6
2022	6
2023	7
2024	7
2025	7
Thereafter	154
Total lease payments	$ 187

Debt - Maturities and Fair Value - Narrative (Details) - Senior Secured Revolving Credit Facility [Member]	Apr. 03, 2018
Debt Instrument [Line Items]
Percentage per annum for quarterly principal payments	1.00%
Additional principal repayment, percentage of excess cash flow, stepdown level one	25.00%
Additional principal repayment, percentage of excess cash flow, stepdown level two	0.00%
Target leverage ratio	3.50%
Maximum [Member]
Debt Instrument [Line Items]
Additional principal repayment, percentage of excess cash flows	50.00%

Commitments and Contingent Liabilities - Environmental - Narrative (Details) $ in Millions			1 Months Ended		3 Months Ended	12 Months Ended
	Sep. 09, 2019 USD ($)	Jun. 29, 2018 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2020 USD ($) lawsuit	Dec. 31, 2020 USD ($) lawsuit	Dec. 31, 2019 USD ($) Owner	Dec. 31, 2018 USD ($)	Sep. 30, 2020 lawsuit
Environmental Remediation [Line Items]
Environmental remediation activities amount				$ 3		$ 71	$ 200	$ 101
Sale of asset to third party				$ 39		5	9	$ 46
Accrual for environmental remediation activities					$ 390	390	406
Off-site Groundwater Remediation [Member]
Environmental Remediation [Line Items]
Estimated disbursements amount						$ 54
Off-site Replacement Drinking Water Supplies [Member]
Environmental Remediation [Line Items]
Accrued for operation, maintenance, and monitoring period						20 years
Accrual for environmental remediation activities						$ 31	18
Accrual for environmental loss contingencies, changes in estimates						$ 7
Off-site Groundwater Remediation for Operation, Maintenance, and Monitoring [Member]
Environmental Remediation [Line Items]
Disbursements period						20 years
Toxicity Studies [Member]
Environmental Remediation [Line Items]
Disbursements period						3 years
On-site Surface Water and Groundwater Remediation [Member]
Environmental Remediation [Line Items]
Accrual for environmental remediation activities					5
Estimated cost of remediation					140	$ 140
OM&M projected paid period						20 years
East Chicago, Indiana [Member]
Environmental Remediation [Line Items]
Sale of asset to third party		$ 1
Environmental remediation cost assumed by seller		21
Accrual for environmental remediation activities		21			11	$ 11	17
Gain on sale of asset		3
Purchase price of asset sold		1
Environmental remediation liability assumed by the buyer		$ 2
Oakley Site [Member]
Environmental Remediation [Line Items]
Sale of asset to third party	$ 7
Gain on sale of asset					6
Sale of asset to third party received amount	4				3
Proceeds contingent upon the completion of certain environmental remediation activities	3
Environmental remediation liability	$ 10				4	4	7
Fayetteville Works, Fayetteville, North Carolina [Member]
Environmental Remediation [Line Items]
Accrual for environmental remediation activities					194	194	201
Fayetteville Works, Fayetteville, North Carolina [Member] \| Off-site Groundwater Remediation [Member]
Environmental Remediation [Line Items]
Accrual for environmental remediation activities					$ 54	$ 54	$ 46
PFAS [Member]
Environmental Remediation [Line Items]
Civil penalty and investigative costs			$ 13
Percentage of efficiency to control PFAS						99.999%
Air quality test maximum period to conduct						90 days
PFAS [Member] \| Fayetteville Works, Fayetteville, North Carolina [Member]
Environmental Remediation [Line Items]
Percentage of efficiency to control PFAS						99.99%
Reduction of PFAS maximum period						2 years
Percentage of baseline						75.00%
Compensatory and Punitive Damages [Member]
Environmental Remediation [Line Items]
Number of private well owners seeking for damages \| Owner							800
Number of lawsuits filed \| lawsuit					3	3
PFOA [Member]
Environmental Remediation [Line Items]
Number of lawsuits filed \| lawsuit									3
Minimum [Member]
Environmental Remediation [Line Items]
Average time frame of disbursements of environmental site remediation						15 years
Maximum [Member]
Environmental Remediation [Line Items]
Average time frame of disbursements of environmental site remediation						20 years
Loss contingency, potential additional loss					$ 580	$ 580

Property, Plant, and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Summary of Property, Plant, and Equipment, Net

The following table sets forth the components of the Company’s property, plant, and equipment, net at December 31, 2020 and 2019.

	December 31,
	2020			2019
Equipment	$	7,816		$	7,600
Buildings		1,198			1,174
Construction-in-progress		421			493
Land		111			110
Mineral rights		36			36
Property, plant, and equipment		9,582			9,413
Less: Accumulated depreciation		(6,108	)		(5,854	)
Total property, plant, and equipment, net	$	3,474		$	3,559

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Tax Credit Carryforward [Line Items]
Earnings and Profits (E&P) of foreign subsidiaries	$ 619
Change in valuation allowance	13	$ 8	$ (15)
R&D tax credits	7	6	$ 5
Expiration Between Years 2035 To 2040 [Member]
Tax Credit Carryforward [Line Items]
R&D tax credits	31
U.S Federal and State [Member] \| Expiration Between Years 2036 To 2039 [Member]
Tax Credit Carryforward [Line Items]
Tax loss carryforwards	10
Foreign [Member] \| Expiration Between Years 2026 to 2030 [Member]
Tax Credit Carryforward [Line Items]
Tax loss carryforwards	12
Foreign [Member] \| Expiration Between Years 2025 to 2030 [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	7
Foreign Subsidiary [Member]
Tax Credit Carryforward [Line Items]
Change in valuation allowance	12	5
Foreign Tax Credits [Member]
Tax Credit Carryforward [Line Items]
Change in valuation allowance	$ 2	$ 3

Commitments and Contingent Liabilities - Summary of Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at January 1,	$ 76	$ 66
Obligations incurred or acquired	12	5
(Decrease) increase in estimated cash outflows	(14)	4
Accretion expense	4	4
Settlements and payments	(2)	(3)
Balance at December 31,	76	76
Current portion	13	7
Non-current portion	$ 63	$ 69

Financial Instruments - Schedule of Derivative Assets and Liabilities At Fair Value (Details) - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Liability derivatives	$ 8	$ 1
Foreign currency forward contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives	4	2
Not Designated as Hedging Instrument [Member] \| Accounts and notes receivable - trade, net [Member] \| Foreign currency forward contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives	4	1
Not Designated as Hedging Instrument [Member] \| Other accrued liabilities [Member] \| Foreign currency forward contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives	1	1
Designated as Hedging Instrument [Member] \| Accounts and notes receivable - trade, net [Member] \| Foreign currency forward contracts [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives		$ 1
Designated as Hedging Instrument [Member] \| Other accrued liabilities [Member] \| Foreign currency forward contracts [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives	4
Designated as Hedging Instrument [Member] \| Other accrued liabilities [Member] \| Interest Rate Swaps [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives	$ 3

Accounts and Notes Receivable, Net - Schedule of Accounts and Notes Receivable (Parenthetical) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable - trade, net	$ 449,000,000	$ 602,000,000
Allowance for doubtful accounts receivable	7,000,000	5,000,000
Trade Notes Receivable [Member] \| Maximum [Member]
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable - trade, net	$ 1,000,000	$ 1,000,000

Net Sales

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Net Sales

Note 5. Net Sales

Disaggregation of Net Sales

The following table sets forth a disaggregation of the Company’s net sales by geographic region and segment and product group for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019		2018
Net sales by geographic region (1)
North America:
Titanium Technologies	$	776	$	727	$	894
Thermal & Specialized Solutions		520		592		619
Advanced Performance Materials		407		512		524
Chemical Solutions		211		313		341
Total North America		1,914		2,144		2,378
Asia Pacific:
Titanium Technologies		778		809		964
Thermal & Specialized Solutions		134		166		160
Advanced Performance Materials		450		507		515
Chemical Solutions		22		61		81
Total Asia Pacific		1,384		1,543		1,720
Europe, the Middle East, and Africa:
Titanium Technologies		528		474		842
Thermal & Specialized Solutions		331		408		555
Advanced Performance Materials		202		258		270
Chemical Solutions		25		23		18
Total Europe, the Middle East, and Africa		1,086		1,163		1,685
Latin America (2):
Titanium Technologies		320		335		474
Thermal & Specialized Solutions		120		152		163
Advanced Performance Materials		45		53		56
Chemical Solutions		100		136		162
Total Latin America		585		676		855
Total net sales	$	4,969	$	5,526	$	6,638

Net sales by segment and product group
Titanium Technologies:
Titanium dioxide and other minerals	$	2,402	$	2,345	$	3,174
Thermal & Specialized Solutions:
Refrigerants		889		1,086		1,238
Foam, propellants, and other		216		232		259
Advanced Performance Materials:
Fluoropolymers and advanced materials		1,104		1,330		1,365
Chemical Solutions:
Mining solutions		203		268		289
Performance chemicals and intermediates		155		265		313
Total net sales	$	4,969	$	5,526	$	6,638

(1)

Net sales are attributed to countries based on customer location.

(2)

Latin America includes Mexico.

Substantially all of the Company’s net sales are derived from goods and services transferred at a point in time. The Company’s net sales from trademark licensing royalties were not significant for the years ended December 31, 2020, 2019, and 2018.

Contract Balances

The Company’s assets and liabilities from contracts with customers constitute accounts receivable - trade, deferred revenue, and customer rebates. An amount for accounts receivable - trade is recorded when the right to consideration under a contract becomes unconditional. An amount for deferred revenue is recorded when consideration is received prior to the conclusion that a contract exists, or when a customer transfers consideration prior to the Company satisfying its performance obligations under a contract. Customer rebates represent an expected refund liability to a customer based on a contract. In contracts with customers where a rebate is offered, it is generally applied retroactively based on the achievement of a certain sales threshold. As revenue is recognized, the Company estimates whether or not the sales threshold will be achieved to determine the amount of variable consideration to include in the transaction price.

The following table sets forth the Company’s contract balances from contracts with customers at December 31, 2020 and 2019.

	December 31,
	2020		2019
Accounts receivable - trade, net (1)	$	449	$	602
Deferred revenue		12		15
Customer rebates		69		72

(1)

Accounts receivable - trade, net includes trade notes receivable of less than $1 and is net of allowances for doubtful accounts of $7 and $5 at December 31, 2020 and 2019, respectively. Such allowances are equal to the estimated uncollectible amounts.

Changes in the Company’s deferred revenue balances resulting from additions for advance payments and deductions for amounts recognized in net sales during the years ended December 31, 2020 and 2019 were not significant. For the years ended December 31, 2020 and 2019, the amount of net sales recognized from performance obligations satisfied in prior periods (e.g., due to changes in transaction price) was not significant.

Contract asset balances or capitalized costs associated with obtaining or fulfilling customer contracts were not significant as of December 31, 2020 and 2019.

Remaining Performance Obligations

Certain of the Company’s MSAs or other arrangements contain take-or-pay clauses, whereby customers are required to purchase a fixed minimum quantity of product during a specified period, or pay the Company for such orders, even if not requested by the customer. The Company considers these take-or-pay clauses to be an enforceable contract, and as such, the legally-enforceable minimum amounts under such an arrangement are considered to be outstanding performance obligations on contracts with an original expected duration greater than one year. At December 31, 2020, Chemours had $71 of remaining performance obligations. The Company expects to recognize approximately 20% of its remaining performance obligations as revenue in 2021, an approximate additional 16% in 2022, and the balance thereafter. The Company applies the allowable practical expedient and does not include remaining performance obligations that have original expected durations of one year or less, or amounts for variable consideration allocated to wholly-unsatisfied performance obligations or wholly-unsatisfied distinct goods that form part of a single performance obligation, if any. Amounts for contract renewals that are not yet exercised by December 31, 2020 are also excluded.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

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+ Details

Income Taxes - Summary of open tax years by significant jurisdiction (Details)	12 Months Ended
	Dec. 31, 2020
Non-U.S Jurisdiction [Member] \| Earliest Tax Year [Member] \| China [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2015
Non-U.S Jurisdiction [Member] \| Earliest Tax Year [Member] \| India [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2015
Non-U.S Jurisdiction [Member] \| Earliest Tax Year [Member] \| Mexico [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2015
Non-U.S Jurisdiction [Member] \| Earliest Tax Year [Member] \| Netherlands [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2017
Non-U.S Jurisdiction [Member] \| Earliest Tax Year [Member] \| Taiwan [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2015
Non-U.S Jurisdiction [Member] \| Earliest Tax Year [Member] \| Singapore [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2016
Non-U.S Jurisdiction [Member] \| Earliest Tax Year [Member] \| Switzerland [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2017
Non-U.S Jurisdiction [Member] \| Latest Tax Year [Member] \| China [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2020
Non-U.S Jurisdiction [Member] \| Latest Tax Year [Member] \| India [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2020
Non-U.S Jurisdiction [Member] \| Latest Tax Year [Member] \| Mexico [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2020
Non-U.S Jurisdiction [Member] \| Latest Tax Year [Member] \| Netherlands [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2020
Non-U.S Jurisdiction [Member] \| Latest Tax Year [Member] \| Taiwan [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2020
Non-U.S Jurisdiction [Member] \| Latest Tax Year [Member] \| Singapore [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2020
Non-U.S Jurisdiction [Member] \| Latest Tax Year [Member] \| Switzerland [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2020
U.S Federal [Member] \| Earliest Tax Year [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2017
U.S Federal [Member] \| Latest Tax Year [Member]
Income Tax Contingency [Line Items]
Tax years open to examination	2020

Other Income (Expense), Net - Components of Other Income (Expense) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Component of Other Income [Line Items]
Leasing, contract services and miscellaneous income		$ 20	$ 51	$ 79
Settlement loss	$ 380	14	381	(18)
Netherlands Pension Plan [Member]
Component of Other Income [Line Items]
Settlement loss			380
European Union [Member] \| Fluorinated Greenhouse Gas [Member]
Component of Other Income [Line Items]
Leasing, contract services and miscellaneous income		3	41	67
Oakley California Site [Member]
Component of Other Income [Line Items]
Gain on sale of asset		$ 6
Repauno, New Jersey Sites [Member]
Component of Other Income [Line Items]
Gain on sale of asset			$ 9
East Chicago, Indiana [Member]
Component of Other Income [Line Items]
Gain on sale of asset				3
Linden, New Jersey Sites [Member]
Component of Other Income [Line Items]
Gain on sale of asset				$ 42

Property, Plant, and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property, Plant, and Equipment, Net

Note 13. Property, Plant, and Equipment, Net

The following table sets forth the components of the Company’s property, plant, and equipment, net at December 31, 2020 and 2019.

	December 31,
	2020			2019
Equipment	$	7,816		$	7,600
Buildings		1,198			1,174
Construction-in-progress		421			493
Land		111			110
Mineral rights		36			36
Property, plant, and equipment		9,582			9,413
Less: Accumulated depreciation		(6,108	)		(5,854	)
Total property, plant, and equipment, net	$	3,474		$	3,559

Property, plant, and equipment, net included gross assets under finance leases of $86 and $68 at December 31, 2020 and 2019, respectively.

Interest expense capitalized as part of property, plant, and equipment, net amounted to $4, $10, and $17 for the years ended December 31, 2020, 2019, and 2018, respectively.

Depreciation expense amounted to $313, $304, and $276 for the years ended December 31, 2020, 2019, and 2018, respectively.

Stock-based Compensation - Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested, beginning balance, shares	546	247	1,165
Granted, shares	585	439	135
Vested, shares	(161)	(110)	(1,034)
Forfeited, shares	(60)	(30)	(19)
Non-vested, ending balance, shares	910	546	247
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Non-vested, weighted average grant date fair value, beginning balance (in dollars per share)	$ 29.95	$ 34.22	$ 15.34
Granted, weighted average grant date fair value (in dollars per share)	17.01	26.89	48.35
Vested, weighted average grant date fair value (in dollars per share)	38.68	24.98	14.86
Forfeited, weighted average grant date fair value (in dollars per share)	25.78	33.90	30.94
Non-vested, weighted average grant date fair value, ending balance (in dollars per share)	$ 20.51	$ 29.95	$ 34.22

Earnings Per Share of Common Stock - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net income (loss) attributable to Chemours	$ 219	$ (52)	$ 995
Denominator:
Weighted-average number of common shares outstanding - basic	164,681,827	164,816,839	176,968,554
Dilutive effect of the Company’s employee compensation plans	1,664,702		5,603,467
Weighted-average number of common shares outstanding - diluted	166,346,529	164,816,839	182,572,021
Basic earnings (loss) per share of common stock	$ 1.33	$ (0.32)	$ 5.62
Diluted earnings (loss) per share of common stock	$ 1.32	$ (0.32)	$ 5.45

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Research and Development Expense

12 Months Ended

Dec. 31, 2020

Research And Development [Abstract]

Research and Development Expense

Note 6. Research and Development Expense

The following table sets forth the Company’s R&D expense by segment for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019		2018
Titanium Technologies	$	31	$	29	$	28
Thermal & Specialized Solutions		18		17		19
Advanced Performance Materials		41		31		31
Chemical Solutions		2		2		2
Corporate and Other		1		1		2
Total research and development expense	$	93	$	80	$	82

Restructuring, Asset-Related, and Other Charges - Schedule of Restructuring Programs to Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 20	$ 44	$ 45
Asset-related charges	22	43	4
Total restructuring, asset-related, and other charges	80	87	49
Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5	20	13
2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1)	3	27
2018 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	(1)	5
2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3	22	0
2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	13	0	0
Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Other charges	38	0	0
Operating Segments [Member] \| Chemical Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	8	34	4
Other charges	37	0	0
Operating Segments [Member] \| Chemical Solutions [Member] \| Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4	2	4
Operating Segments [Member] \| Chemical Solutions [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	2
Operating Segments [Member] \| Chemical Solutions [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	1	0
Operating Segments [Member] \| Chemical Solutions [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1	0	0
Operating Segments [Member] \| Titanium Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	0	9	0
Other charges	1	0	0
Operating Segments [Member] \| Titanium Technologies [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	1	1
Operating Segments [Member] \| Titanium Technologies [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	5	0
Operating Segments [Member] \| Titanium Technologies [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3	0	0
Operating Segments [Member] \| Thermal & Specialized Solutions [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	1	4
Operating Segments [Member] \| Thermal & Specialized Solutions [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1	3	0
Operating Segments [Member] \| Thermal & Specialized Solutions [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1	0	0
Operating Segments [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	10	0	0
Operating Segments [Member] \| Advanced Performance Materials [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	1	5
Operating Segments [Member] \| Advanced Performance Materials [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	4	0
Operating Segments [Member] \| Advanced Performance Materials [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3	0	0
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	4	0	0
Corporate and Other [Member] \| Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1	18	9
Corporate and Other [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1)	0	15
Corporate and Other [Member] \| 2018 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	(1)	5
Corporate and Other [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	9	0
Corporate and Other [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5	$ 0	$ 0

Goodwill and Other Intangible Assets, Net - Narrative (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Goodwill and Other Intangible Assets
Number of operating segments \| segment	4
Goodwill adjustments	$ 0	$ 0
Goodwill transfers	0	0
Goodwill impairments	0	0
Accumulated impairment losses included in goodwill	4,000,000	4,000,000
Amortization expense, 2021	7,000,000
Amortization expense, 2022	5,000,000
Amortization expense, 2023	1,000,000
Maximum [Member]
Goodwill and Other Intangible Assets
Amortization expense, 2024	1,000,000
Amortization expense, 2025	$ 1,000,000
Useful life	20 years
Minimum [Member]
Goodwill and Other Intangible Assets
Useful life	5 years
Continuing Operations [Member]
Goodwill and Other Intangible Assets
Aggregate pre-tax amortization expense	$ 7,000,000	$ 7,000,000	$ 6,000,000

Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Schedule of Other Accrued Liabilities

The following table sets forth the components of the Company’s other accrued liabilities at December 31, 2020 and 2019.

	December 31,
	2020		2019
Compensation and other employee-related costs	$	107	$	52
Employee separation costs (1)		7		15
Accrued litigation (2)		37		10
Environmental remediation (2)		95		74
Asset retirement obligations (2)		13		7
Income taxes		64		65
Customer rebates		69		72
Deferred revenue		7		7
Accrued interest		18		21
Operating lease liabilities (3)		57		66
Miscellaneous (4)		103		95
Total other accrued liabilities	$	577	$	484

(1)

Represents the current portion of accrued employee separation costs related to the Company’s restructuring activities, which are discussed further in “Note 7 – Restructuring, Asset-related, and Other Charges”.

(2)

Represents the current portions of accrued litigation, environmental remediation, and asset retirement obligations, which are discussed further in “Note 22 – Commitments and Contingent Liabilities”.

(3)

Represents the current portion of operating lease liabilities, which are discussed further in “Note 14 – Leases”.

(4)

Miscellaneous primarily includes accrued utility expenses, property taxes, an accrued indemnification liability, and other miscellaneous expenses.

Net Sales (Tables)

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Net Sales by Geographical Region and Segment and Product Group

The following table sets forth a disaggregation of the Company’s net sales by geographic region and segment and product group for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019		2018
Net sales by geographic region (1)
North America:
Titanium Technologies	$	776	$	727	$	894
Thermal & Specialized Solutions		520		592		619
Advanced Performance Materials		407		512		524
Chemical Solutions		211		313		341
Total North America		1,914		2,144		2,378
Asia Pacific:
Titanium Technologies		778		809		964
Thermal & Specialized Solutions		134		166		160
Advanced Performance Materials		450		507		515
Chemical Solutions		22		61		81
Total Asia Pacific		1,384		1,543		1,720
Europe, the Middle East, and Africa:
Titanium Technologies		528		474		842
Thermal & Specialized Solutions		331		408		555
Advanced Performance Materials		202		258		270
Chemical Solutions		25		23		18
Total Europe, the Middle East, and Africa		1,086		1,163		1,685
Latin America (2):
Titanium Technologies		320		335		474
Thermal & Specialized Solutions		120		152		163
Advanced Performance Materials		45		53		56
Chemical Solutions		100		136		162
Total Latin America		585		676		855
Total net sales	$	4,969	$	5,526	$	6,638

Net sales by segment and product group
Titanium Technologies:
Titanium dioxide and other minerals	$	2,402	$	2,345	$	3,174
Thermal & Specialized Solutions:
Refrigerants		889		1,086		1,238
Foam, propellants, and other		216		232		259
Advanced Performance Materials:
Fluoropolymers and advanced materials		1,104		1,330		1,365
Chemical Solutions:
Mining solutions		203		268		289
Performance chemicals and intermediates		155		265		313
Total net sales	$	4,969	$	5,526	$	6,638

(1)

Net sales are attributed to countries based on customer location.

(2)

Latin America includes Mexico.

Summary of Contract Balances from Contracts with Customers

The following table sets forth the Company’s contract balances from contracts with customers at December 31, 2020 and 2019.

	December 31,
	2020		2019
Accounts receivable - trade, net (1)	$	449	$	602
Deferred revenue		12		15
Customer rebates		69		72

(1)

Stock-based Compensation - Performance Share Units Activity (Parenthetical) (Details) - Performance Share Units [Member] - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares vested	176,000	761,000	19,000
Number of non-issued shares cancelled	51,000	57,000
Chemours Company Equity and Incentive Plan (the "Prior Plan") [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares vested		1,520,000
Number of non-issued shares cancelled		680,000

Leases - Schedule of Components of Company's Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 88	$ 99
Short-term lease cost	5	5
Variable lease cost	20	16
Amortization of lease assets	8	5
Interest on lease liabilities	4	2
Total lease cost	$ 125	$ 127

Financial Instruments

12 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Financial Instruments

Note 26. Financial Instruments

Net Monetary Assets and Liabilities Hedge – Foreign Currency Forward Contracts

At December 31, 2020, the Company had 25 foreign currency forward contracts outstanding with an aggregate gross notional U.S. dollar equivalent of $688 and an average maturity of one month. At December 31, 2019, the Company had 16 foreign currency forward contracts outstanding with an aggregate gross notional U.S. dollar equivalent of $530, and an average maturity of one month. Chemours recognized a net gain of $29, a net loss of $2, and a net gain of $3 for the years ended December 31, 2020, 2019, and 2018, respectively, in other income (expense), net.

Cash Flow Hedge – Foreign Currency Forward Contracts

At December 31, 2020, the Company had 144 foreign currency forward contracts outstanding under its cash flow hedge program with an aggregate notional U.S. dollar equivalent of $101, and an average maturity of four months. At December 31, 2019, the Company had 150 foreign currency forward contracts outstanding under its cash flow hedge program with an aggregate notional U.S. dollar equivalent of $124, and an average maturity of five months. Chemours recognized a pre-tax loss of $4 and pre-tax gains of $6 and $10 for the years ended December 31, 2020, 2019, and 2018, respectively, within accumulated other comprehensive loss. For the years ended December 31, 2020, 2019, and 2018, $3, $10, and $4 of gain was reclassified to the cost of goods sold from accumulated other comprehensive loss, respectively.

The Company expects to reclassify an approximate $5 of net loss from accumulated other comprehensive loss to the cost of goods sold over the next 12 months, based on current foreign currency exchange rates.

Cash Flow Hedge – Interest Rate Swaps

Beginning in the second quarter of 2020, the Company elected to expand its cash flow hedge program and enter into interest rate swaps. The objective of entering interest rate swaps is to mitigate the volatility in the Company’s cash payments for interest related to the portion of the Company’s senior secured term loan facility denominated in U.S. dollars, which bears a variable interest rate equal to, at the election of the Company, adjusted LIBOR plus 1.75% or adjusted base rate plus 0.75%, subject to an adjusted LIBOR or an adjusted base rate floor of 0.00% or 1.00%, respectively.

At December 31, 2020, the Company had three interest rate swaps outstanding under its cash flow hedge program with an aggregate notional U.S. dollar equivalent of $400; each of the interest rate swaps mature on March 31, 2023. Chemours recognized a pre-tax loss of $4 for the year ended December 31, 2020 within accumulated other comprehensive loss. For the year ended December 31, 2020, less than $1 of loss was reclassified to interest expense, net from accumulated other comprehensive loss.

The Company expects to reclassify an approximate $2 of net loss from accumulated other comprehensive loss to interest expense, net over the next 12 months.

Net Investment Hedge – Foreign Currency Borrowings

The Company recognized a pre-tax loss of $88 and pre-tax gains of $20 and $32 for the years ended December 31, 2020, 2019, and 2018, respectively, on its net investment hedge within accumulated other comprehensive loss. No amounts were reclassified from accumulated other comprehensive loss for the Company’s net investment hedges during the years ended December 31, 2020, 2019, and 2018.

Fair Value of Derivative Instruments

The following table sets forth the fair value of the Company’s derivative assets and liabilities at December 31, 2020 and 2019.

		Fair Value Using Level 2 Inputs
	Balance Sheet Location	December 31, 2020		December 31, 2019
Asset derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Accounts and notes receivable, net (Note 11)	$	4	$	1
Foreign currency forward contracts designated as a cash flow hedge	Accounts and notes receivable, net (Note 11)		—		1
Total asset derivatives		$	4	$	2

Liability derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Other accrued liabilities (Note 19)	$	1	$	1
Foreign currency forward contracts designated as a cash flow hedge	Other accrued liabilities (Note 19)		4		—
Interest rate swaps designated as a cash flow hedge	Other accrued liabilities (Note 19)		3		—
Total liability derivatives		$	8	$	1

The Company’s foreign currency forward contracts and interest rate swaps are classified as Level 2 financial instruments within the fair value hierarchy as the valuation inputs are based on quoted prices and market observable data of similar instruments. For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates and implied volatilities obtained from various market sources. Market inputs are obtained from well-established and recognized vendors of market data, and are subjected to tolerance and/or quality checks.

Summary of Financial Instruments

The following table sets forth the pre-tax changes in fair value of the Company’s financial instruments for the years ended December 31, 2020, 2019, and 2018.

	Gain (Loss) Recognized In
								Accumulated Other
	Cost of		Interest		Other Income			Comprehensive
Year Ended December 31,	Goods Sold		Expense, Net		(Expense), Net			Loss
2020
Foreign currency forward contracts not designated as a hedging instrument	$	—	$	—	$	29		$	—
Foreign currency forward contracts designated as a cash flow hedge		3		—		—			(4	)
Interest rate swaps designated as a cash flow hedge		—		—		—			(4	)
Euro-denominated debt designated as a net investment hedge		—		—		—			(88	)

2019
Foreign currency forward contracts not designated as a hedging instrument	$	—	$	—	$	(2	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		10		—		—			6
Euro-denominated debt designated as a net investment hedge		—		—		—			20

2018
Foreign currency forward contracts not designated as a hedging instrument	$	—	$	—	$	3		$	—
Foreign currency forward contracts designated as a cash flow hedge		4		—		—			10
Euro-denominated debt designated as a net investment hedge		—		—		—			32

Leases - Schedule of Weighted-Average Terms and Weighted-Average Discount Rates For Company's Leases (Details)	Dec. 31, 2020	Dec. 31, 2019
Weighted-average remaining lease term (years):
Operating leases	8 years 7 months 6 days	8 years 6 months
Finance leases	7 years 10 months 24 days	9 years 2 months 12 days
Weighted-average discount rate:
Operating leases	5.00%	5.10%
Finance leases	5.40%	5.90%

Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory U.S. federal income tax rate	$ 38	$ (26)	$ 243
State income taxes, net of federal benefit	(11)	(7)	7
Lower effective tax rate on international operations, net	(34)	(28)	(44)
Depletion	(6)	(5)	(6)
Exchange gains		(7)	(4)
Provision to return and other adjustments	(37)	(4)	(9)
Valuation allowance	13	8	(15)
Net impact of U.S. tax reform			(10)
Stock-based compensation		(14)	(14)
Executive compensation limitation	1	9	4
R&D credit	(7)	(6)	(5)
Uncertain tax positions	(1)	7	2
Other, net	4	1	10
Total (benefit from) provision for income taxes	$ (40)	$ (72)	$ 159

Long-term Employee Benefits (Schedule of Net Periodic Pension (Cost) Income and Amounts Recognized in Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Total net periodic pension (cost) income	$ (380)	$ (14)	$ (381)	$ 18
Net gain (loss)		4	(144)	(115)
Prior service (cost) benefit, pre-tax		(1)	5	0
Amortization of actuarial loss, pre-tax		9	18	16
Amortization of prior service gain		(3)	(2)	(2)
Curtailment gain		4	0	0
Effect of foreign exchange rates		(9)	7	8
Benefit (cost) recognized in other comprehensive income		9	267	(93)
Pension Plan [Member] \| Foreign [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost		(15)	(13)	(14)
Interest cost		(6)	(17)	(16)
Expected return on plan assets		17	48	58
Amortization of actuarial loss		(9)	(18)	(12)
Amortization of prior service gain		3	2	2
Settlement loss		(5)	(383)
Curtailment gain		1
Total net periodic pension (cost) income		(14)	(381)	18
Net gain (loss)		4	(144)	(115)
Prior service (cost) benefit, pre-tax		(1)	5
Amortization of actuarial loss, pre-tax		9	18	16
Amortization of prior service gain		(3)	(2)	(2)
Settlement loss		5	383
Curtailment gain		4
Effect of foreign exchange rates		(9)	7	8
Benefit (cost) recognized in other comprehensive income		9	267	(93)
Total changes in plan assets and benefit obligations recognized in other comprehensive income		$ (5)	$ (114)	$ (75)

Stock-based Compensation - Narrative (Details) $ / shares in Units, $ in Millions		12 Months Ended
	Jan. 26, 2017 Period shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares shares	Apr. 26, 2017 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $		$ 16	$ 19	$ 24
Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $		$ 9	$ 9	$ 8
Expiration period		10 years	10 years	10 years
Stock-based compensation award vesting period		3 years	3 years	3 years
Total intrinsic value of options exercised \| $		$ 12	$ 2	$ 37
Unrecognized stock-based compensation expense related to stock options \| $		$ 7
Unrecognized stock-based compensation expense period for recognition		1 year 9 months 10 days
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $		$ 7	$ 7	$ 7
Stock-based compensation award vesting period		3 years
Unrecognized stock-based compensation expense period for recognition		1 year 2 months 23 days
Shares issued upon conversion of equity award		1
Unrecognized compensation cost related to equity awards other than options \| $		$ 12
Weighted-average fair value at grant date (in dollars per share) \| $ / shares		$ 17.01	$ 26.89	$ 48.35
Performance Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $		$ 1	$ 3	$ 9
Stock-based compensation award vesting period		3 years
Shares issued upon conversion of equity award		1
Percentage of target award available for grant		100.00%	100.00%	100.00%
Weighted-average fair value at grant date (in dollars per share) \| $ / shares		$ 17.14	$ 44.38	$ 52.34
Number of additional shares to be awarded		1,100,000
Number of common stock shares reserved for issuance	7,000,000
Consecutive offering periods	12 months
Number of purchase periods in offer period \| Period	2
Employee stock purchase plan initial offering period	Oct. 02, 2017
Percentage of common stock discount rate equal to the fair value	95.00%
Stock purchased under employee stock purchase plan, Shares		226,000
Additional stock purchased under employee stock purchase plan, Shares				12,411
Stock purchased under employee stock purchase plan, Value \| $		$ 5
Performance Share Units [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award available for grant		0.00%
Performance Share Units [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award available for grant		250.00%
Chemours Company 2017 Equity and Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for grants (in shares)		10,200,000			0
Shares authorized for grants (in shares)					19,000,000
Chemours Company Equity and Incentive Plan (the "Prior Plan") [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued upon conversion of equity stock option awards granted					1
Shares issued upon conversion of equity stock other than option awards granted					1.5

Financial Instruments - Narrative (Details)	12 Months Ended
Financial Instruments - Narrative (Details)	Dec. 31, 2020 USD ($) contract InterestRateSwap	Dec. 31, 2019 USD ($) contract	Dec. 31, 2018 USD ($)
Derivative [Line Items]
Recognized gains (losses) on derivative cash flow hedge, pre-tax	$ (8,000,000)	$ 6,000,000	$ 10,000,000
Designated as Hedging Instrument [Member] \| Net Investment Hedge [Member]
Derivative [Line Items]
Recognized gain (loss) on derivative, pre-tax	(88,000,000)	20,000,000	32,000,000
Reclassification on derivative, pre-tax	$ 0	$ 0	0
Foreign currency forward contracts [Member]
Derivative [Line Items]
Number of forward exchange currency contracts \| contract	25	16
Derivative notional value	$ 688,000,000	$ 530,000,000
Average maturity period of derivative contract	1 month	1 month
Foreign currency forward contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Income (Expense), Net [Member]
Derivative [Line Items]
Derivative gains (losses)	$ 29,000,000	$ (2,000,000)	3,000,000
Gain (loss) reclassification to cost of goods sold on derivative cash flow hedge	$ 29,000,000	$ (2,000,000)	3,000,000
Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Number of forward exchange currency contracts \| contract	144	150
Derivative notional value	$ 101,000,000	$ 124,000,000
Average maturity period of derivative contract	4 months	5 months
Recognized gains (losses) on derivative cash flow hedge, pre-tax	$ (4,000,000)	$ 6,000,000	10,000,000
Derivative cash flow hedge loss from accumulated other comprehensive loss to cost of goods sold to be reclassified with in twelve months	5,000,000
Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cost of Goods Sold [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Gain (loss) reclassification to cost of goods sold on derivative cash flow hedge	3,000,000	$ 10,000,000	$ 4,000,000
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Derivative notional value	$ 400,000,000
Number of interest rate swaps \| InterestRateSwap	3
Interest rate swaps maturity date	Mar. 31, 2023
Recognized gain (loss) on derivative, pre-tax	$ (4,000,000)
Amount expects to reclassify of net loss from accumulated other comprehensive loss to interest expense, net	$ 2,000,000
Period expects to reclassify of net loss from accumulated other comprehensive loss to interest expense, net	12 months
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member] \| Senior Secured Term Loan Facility [Member]
Derivative [Line Items]
Variable interest	1.75%
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member] \| Senior Secured Term Loan Facility [Member]
Derivative [Line Items]
Variable interest	0.00%
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member] \| Base Rate [Member] \| Maximum [Member] \| Senior Secured Term Loan Facility [Member]
Derivative [Line Items]
Variable interest	0.75%
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member] \| Base Rate [Member] \| Minimum [Member] \| Senior Secured Term Loan Facility [Member]
Derivative [Line Items]
Variable interest	1.00%
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Interest Expense, Net [Member] \| Cash Flow Hedge [Member] \| Maximum [Member]
Derivative [Line Items]
Reclassification on derivative, pre-tax	$ (1,000,000)

Leases - Schedule of Lease Assets and Lease Liabilities and their Balance Sheet Locations (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Lease assets:
Operating lease right-of-use assets	$ 236	$ 294
Finance lease assets	$ 69	$ 58
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet	us-gaap:PropertyPlantAndEquipmentNet
Total lease assets	$ 305	$ 352
Current:
Operating lease liabilities	$ 57	$ 66
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent	us-gaap:AccruedLiabilitiesCurrent
Finance lease liabilities	$ 7	$ 5
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:DebtCurrent	us-gaap:DebtCurrent
Total current lease liabilities	$ 64	$ 71
Non-current:
Operating lease liabilities	194	245
Finance lease liabilities	$ 67	$ 54
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtNoncurrent	us-gaap:LongTermDebtNoncurrent
Total non-current lease liabilities	$ 261	$ 299
Total lease liabilities	$ 325	$ 370

Property, Plant, and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Abstract]
Finance leased assets, gross	$ 86	$ 68
Interest capitalized	4	10	$ 17
Depreciation expense	$ 313	$ 304	$ 276

Restructuring, Asset-Related, and Other Charges (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring And Related Activities [Abstract]

Schedule of Restructuring Program

The following table sets forth the components of the Company’s restructuring, asset-related, and other charges for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019		2018
Restructuring and other charges:
Employee separation charges	$	17	$	21	$	14
Decommissioning and other charges		41		23		31
Total restructuring and other charges		58		44		45
Asset-related charges (1)		22		43		4
Total restructuring, asset-related, and other charges	$	80	$	87	$	49

(1)

The following table sets forth the impacts of the Company’s restructuring programs to segment earnings for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Restructuring charges:
Plant and product line closures:
Chemical Solutions	$	4		$	2		$	4
Corporate and Other		1			18			9
Total plant and product line closures		5			20			13
2017 Restructuring Program:
Titanium Technologies		—			1			1
Thermal & Specialized Solutions		—			1			4
Advanced Performance Materials		—			1			5
Chemical Solutions		—			—			2
Corporate and Other		(1	)		—			15
Total 2017 Restructuring Program		(1	)		3			27
2018 Restructuring Program:
Corporate and Other		—			(1	)		5
Total 2018 Restructuring Program		—			(1	)		5
2019 Restructuring Program:
Titanium Technologies		—			5			—
Thermal & Specialized Solutions		1			3			—
Advanced Performance Materials		2			4			—
Chemical Solutions		—			1			—
Corporate and Other		—			9			—
Total 2019 Restructuring Program		3			22			—
2020 Restructuring Program:
Titanium Technologies		3			—			—
Thermal & Specialized Solutions		1			—			—
Advanced Performance Materials		3			—			—
Chemical Solutions		1			—			—
Corporate and Other		5			—			—
Total 2020 Restructuring Program		13			—			—
Total restructuring charges		20			44			45
Asset-related charges:
Titanium Technologies		—			9			—
Advanced Performance Materials		10			—			—
Chemical Solutions		8			34			4
Corporate and Other		4			—			—
Total asset-related charges		22			43			4
Other charges:
Titanium Technologies		1			—			—
Chemical Solutions		37			—			—
Total other charges		38			—			—
Total restructuring, asset-related, and other charges	$	80		$	87		$	49

Schedule of Restructuring Charges

The following table sets forth the change in the Company’s employee separation-related liabilities associated with its restructuring programs for the years ended December 31, 2020 and 2019.

	Chemical Solutions Site Closures		2015 Global Restructuring Program			2017 Restructuring Program			2018 Restructuring Program			2019 Restructuring Program			2020 Restructuring Program			Total
Balance at January 1, 2019	$	—	$	1		$	10		$	5		$	—		$	—		$	16
(Credits) charges to income		—		(1	)		—			(1	)		22			—			20
Payments		—		—			(9	)		(4	)		(8	)		—			(21	)
Balance at December 31, 2019		—		—			1			—			14			—			15
Charges (credits) to income		2		—			(1	)		—			3			13			17
Payments		—		—			—			—			(15	)		(10	)		(25	)
Balance at December 31, 2020	$	2	$	—		$	—		$	—		$	2		$	3		$	7

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2020	Feb. 08, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	The Chemours Company
Entity Central Index Key	0001627223
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Type	10-K
Trading Symbol	CC
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		165,171,934
Entity Shell Company	false
Entity File Number	001-36794
Entity Tax Identification Number	46-4845564
Entity Address, Address Line One	1007 Market Street
Entity Address, City or Town	Wilmington
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19801
City Area Code	302
Local Phone Number	773-1000
Title of 12(b) Security	Common Stock ($0.01 par value)
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Annual Report	true
Document Transition Report	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 2.5
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Documents Incorporated by Reference Portions of the registrant’s definitive proxy statement relating to its 2021 annual meeting of shareholders (the “2021 Proxy Statement”) are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The 2021 Proxy Statement will be filed with the U. S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.

Equity

12 Months Ended

Dec. 31, 2020

Stockholders Equity Note [Abstract]

Equity

Note 23. Equity

2017 Share Repurchase Program

On November 30, 2017, the Company’s board of directors approved a share repurchase program authorizing the purchase of shares of Chemours’ issued and outstanding common stock in an aggregate amount not to exceed $500, plus any associated fees or costs in connection with the Company’s share repurchase activity (the “2017 Share Repurchase Program”). Under the 2017 Share Repurchase Program, shares of Chemours’ common stock were purchased on the open market from time to time, subject to management’s discretion, as well as general business and market conditions. The Company’s 2017 Share Repurchase Program became effective on November 30, 2017 and was announced to the public on December 1, 2017. On May 31, 2018, the Company completed the aggregate $500 in authorized purchases of Chemours’ issued and outstanding common stock under the 2017 Share Repurchase Program, which amounted to a cumulative 10,085,647 shares purchased at an average share price of $49.58 per share. All common shares purchased under the 2017 Share Repurchase Program are held as treasury stock and are accounted for using the cost method.

2018 Share Repurchase Program

On August 1, 2018, the Company’s board of directors approved a share repurchase program authorizing the purchase of shares of Chemours’ issued and outstanding common stock in an aggregate amount not to exceed $750, plus any associated fees or costs in connection with the Company’s share repurchases activity (the “2018 Share Repurchase Program”). On February 13, 2019, the Company’s board of directors increased the authorization amount of the 2018 Share Repurchase Program from $750 to $1,000. Under the 2018 Share Repurchase Program, shares of Chemours’ common stock can be purchased on the open market from time to time, subject to management’s discretion, as well as general business and market conditions. The Company’s 2018 Share Repurchase Program became effective on August 1, 2018, was announced to the public on August 2, 2018, and was originally scheduled to continue through the earlier of its expiration on December 31, 2020 or the completion of repurchases up to the approved amount. On December 8, 2020, the Company’s board of directors approved the extension of the 2018 Share Repurchase Program through December 31, 2022. The program may be suspended or discontinued at any time. All common shares purchased under the 2018 Share Repurchase Program are expected to be held as treasury stock and accounted for using the cost method.

During 2020, the Company did not purchase any of Chemours’ issued and outstanding common stock under the 2018 Share Repurchase Program. During 2019, the Company purchased an aggregate 8,895,142 shares of Chemours’ issued and outstanding common stock under the 2018 Share Repurchase Program, which amounted to $322 at an average share price of $36.24 per share. During 2018, the Company purchased an aggregate 6,350,857 shares of Chemours’ issued and outstanding common stock under the 2018 Share Repurchase Program, which amounted to $250 at an average share price of $39.31 per share. The aggregate amount of Chemours’ common stock that remained available for purchase under the 2018 Share Repurchase Program at December 31, 2020 was $428.

Inventories

12 Months Ended

Dec. 31, 2020

Inventory Net [Abstract]

Inventories

Note 12. Inventories

The following table sets forth the components of the Company’s inventories at December 31, 2020 and 2019.

	December 31,
	2020			2019
Finished products	$	579		$	589
Semi-finished products		180			189
Raw materials, stores, and supplies		433			559
Inventories before LIFO adjustment		1,192			1,337
Less: Adjustment of inventories to LIFO basis		(253	)		(258	)
Total inventories	$	939		$	1,079

Inventory values, before LIFO adjustment, are generally determined by the average cost method, which approximates current cost. Inventories are valued under the LIFO method at substantially all of the Company’s U.S. locations, which comprised $585 and $674 (or 49% and 50%, respectively) of inventories before the LIFO adjustments at December 31, 2020 and 2019, respectively. The remainder of the Company’s inventory held in international locations and certain U.S. locations is valued under the average cost method.

Commitments and Contingent Liabilities - Schedule of Components of Environmental Remediation Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Environmental Remediation [Line Items]
Accrued environmental remediation	$ 390	$ 406
Chambers Works, Deepwater, New Jersey [Member]
Environmental Remediation [Line Items]
Accrued environmental remediation	20	20
East Chicago, Indiana [Member]
Environmental Remediation [Line Items]
Accrued environmental remediation	11	17
Fayetteville Works, Fayetteville, North Carolina [Member]
Environmental Remediation [Line Items]
Accrued environmental remediation	194	201
Pompton Lakes, New Jersey [Member]
Environmental Remediation [Line Items]
Accrued environmental remediation	42	43
USS Lead, East Chicago, Indiana [Member]
Environmental Remediation [Line Items]
Accrued environmental remediation	12	13
All other sites [Member]
Environmental Remediation [Line Items]
Accrued environmental remediation	$ 111	$ 112

Other Liabilities - Schedule of Other Liabilities (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Noncurrent [Abstract]
Accrued indemnification liability	$ 37	$ 41

Debt - Senior Unsecured Notes - Narrative (Details)							12 Months Ended
Debt - Senior Unsecured Notes - Narrative (Details)	Nov. 27, 2020 USD ($)	Nov. 12, 2020 $ / shares	Jun. 06, 2018 EUR (€)	May 21, 2018 USD ($) Tender $ / shares	May 23, 2017 USD ($)	May 12, 2015 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 01, 2020 USD ($)	Dec. 31, 2019 EUR (€)	Jun. 08, 2018 EUR (€)	Jun. 06, 2018 USD ($)	Jun. 06, 2018 EUR (€)	May 12, 2015 EUR (€)
Debt Instrument [Line Items]
Debt instrument net issue discount							$ 7,000,000	$ 8,000,000
Loss on extinguishment of debt							$ (22,000,000)	0	$ (38,000,000)
First MDL Settlement [Member]
Debt Instrument [Line Items]
Settlement payments					$ 335,000,000
6.625% Senior Unsecured Notes Due May 2023 [Member]
Debt Instrument [Line Items]
Long-term debt								$ 908,000,000
Debt instrument interest rate							6.625%	6.625%		6.625%		6.625%
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt							$ 551,000,000	$ 501,000,000		€ 450,000,000		€ 450,000,000
Debt instrument interest rate							4.00%	4.00%		4.00%		4.00%
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt							$ 800,000,000
Debt instrument interest rate							5.75%	5.75%		5.75%		5.75%
Senior unsecured notes [Member]
Debt Instrument [Line Items]
Long-term debt						$ 2,503,000,000
Senior unsecured notes, payment terms							The Original Notes required or require, as applicable, payment of principal at maturity and payments of interest semi-annually in cash and in arrears on May 15 and November 15 of each year.
Net proceeds from issuance of long term debt					489,000,000
Senior unsecured notes [Member] \| 2026 Euro Notes [Member]
Debt Instrument [Line Items]
Net proceeds from offering \| €			€ 445,000,000
Senior unsecured notes [Member] \| Redemption of 2023 Euro Notes and Issuance of 2026 Euro Notes [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt									35,000,000
Senior unsecured notes [Member] \| Dollar Tender Offer [Member]
Debt Instrument [Line Items]
Tender offer aggregate purchase price											$ 926,000,000			$ 264,000,000
Tender offer early participation premium											16,000,000			13,000,000
Tender offer accrued interest											$ 2,000,000			$ 1,000,000
Senior unsecured notes [Member] \| Euro Tender Offer [member]
Debt Instrument [Line Items]
Tender offer aggregate purchase price \| €													€ 310,000,000
Tender offer early participation premium \| €													14,000,000
Tender offer accrued interest \| €													€ 1,000,000
Senior unsecured notes [Member] \| 2028 Notes [Member]
Debt Instrument [Line Items]
Net proceeds from offering	$ 790,000,000
Senior unsecured notes [Member] \| Redemption of 2023 Dollar Notes [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt							$ 22,000,000
Senior unsecured notes [Member] \| 6.625% Senior Unsecured Notes Due May 2023 [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount						$ 1,350,000,000
Debt instrument interest rate						6.625%										6.625%
Debt instrument maturity date						May 31, 2023
Debt instrument outstanding amount				$ 250,000,000			$ 908,000,000		$ 250,000,000
Number of tender offers \| Tender				2
Senior unsecured notes [Member] \| 6.625% Senior Unsecured Notes Due May 2023 [Member] \| Dollar Tender Offer [Member] \| Tender Offer Purchase Price One [Member]
Debt Instrument [Line Items]
Tender offer purchase price per share \| $ / shares		$ 1,017.94		$ 1,052.50
Tender offer principal amount price per share		1,000.00		1,000.00
Tender offer expiration date		Nov. 25, 2020		Jun. 04, 2018
Senior unsecured notes [Member] \| 6.625% Senior Unsecured Notes Due May 2023 [Member] \| Dollar Tender Offer [Member] \| Tender Offer Purchase Price Two [Member]
Debt Instrument [Line Items]
Tender offer purchase price per share \| $ / shares		$ 987.94		$ 1,022.50
Tender offer principal amount price per share		1,000.00		1,000.00
Tender offer expiration date		Dec. 10, 2020		Jun. 18, 2018
Senior unsecured notes [Member] \| 6.625% Senior Unsecured Notes Due May 2023 [Member] \| 2028 Notes [Member]
Debt Instrument [Line Items]
Debt instrument outstanding amount				$ 908,000,000
Senior unsecured notes [Member] \| 2025 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount						$ 750,000,000
Debt instrument interest rate						7.00%										7.00%
Debt instrument maturity date						May 31, 2025
Senior unsecured notes [Member] \| Senior Notes 6.125% Due May 2023 [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount \| €																€ 360,000,000
Debt instrument interest rate						6.125%										6.125%
Debt instrument maturity date						May 31, 2023
Senior unsecured notes [Member] \| Senior Notes 6.125% Due May 2023 [Member] \| Euro Tender Offer [member] \| Tender Offer Purchase Price One [Member]
Debt Instrument [Line Items]
Tender offer purchase price per share \| $ / shares				$ 1,048.75
Tender offer principal amount price per share				1,000.00
Tender offer expiration date				Jun. 04, 2018
Senior unsecured notes [Member] \| Senior Notes 6.125% Due May 2023 [Member] \| Euro Tender Offer [member] \| Tender Offer Purchase Price Two [Member]
Debt Instrument [Line Items]
Tender offer purchase price per share \| $ / shares				$ 1,018.75
Tender offer principal amount price per share				1,000.00
Tender offer expiration date				Jun. 18, 2018
Senior unsecured notes [Member] \| Original Notes [Member]
Debt Instrument [Line Items]
Obligation threshold for debt to become guaranteed						$ 75,000,000
Repurchase price obligation, percentage of principal amount redeemed in event of change of control						101.00%										101.00%
Repurchase price obligation, percentage of principal amount redeemed in event of change of asset dispositions						100.00%										100.00%
Senior unsecured notes [Member] \| 2027 Notes [Member]
Debt Instrument [Line Items]
Long-term debt					$ 500,000,000
Debt instrument interest rate					5.375%
Obligation threshold for debt to become guaranteed					$ 100,000,000
Debt instrument net issue discount					5,000,000
Underwriting fees and other related expenses					$ 6,000,000
Repurchase price obligation, percentage of principal amount redeemed in event of change of control					101.00%
Repurchase price obligation, percentage of principal amount redeemed					100.00%
Senior unsecured notes [Member] \| 4.000% Senior Unsecured Notes Due May 2026 [Member] \| 2026 Euro Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount \| €															€ 450,000,000
Debt instrument interest rate														4.00%	4.00%
Debt instrument maturity date			May 31, 2026
Senior unsecured notes, payment terms							The 2026 Euro Notes require payment of principal at maturity and payments of interest semi-annually in cash and in arrears on May 15 and November 15 of each year.
Repurchase price obligation, percentage of principal amount redeemed in event of change of control														101.00%	101.00%
Repurchase price obligation, percentage of principal amount redeemed			100.00%
Debt instrument redemption price percentage of principal amount with net cash proceeds														35.00%	35.00%
Debt instrument redemption price percentage of principal amount excluding redemption date														104.00%	104.00%
Senior unsecured notes [Member] \| 4.000% Senior Unsecured Notes Due May 2026 [Member] \| Minimum [Member] \| 2026 Euro Notes [Member]
Debt Instrument [Line Items]
Obligation threshold for debt to become guaranteed														$ 100,000,000
Senior unsecured notes [Member] \| 5.750% Senior Unsecured Notes Due November 2028 [Member] \| 2028 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	$ 800,000,000
Debt instrument interest rate	5.75%
Debt instrument maturity date	Nov. 30, 2028
Senior unsecured notes, payment terms							The 2028 Notes require payment of principal at maturity and interest semi-annually in cash and in arrears on May 15 and November 15 of each year.
Underwriting fees and other related expenses	$ 10,000,000
Repurchase price obligation, percentage of principal amount redeemed in event of change of control	101.00%
Repurchase price obligation, percentage of principal amount redeemed	100.00%
Debt instrument redemption price percentage of principal amount with net cash proceeds	35.00%
Debt instrument redemption price percentage of principal amount excluding redemption date	105.75%
Senior unsecured notes [Member] \| 5.750% Senior Unsecured Notes Due November 2028 [Member] \| Minimum [Member] \| 2028 Notes [Member]
Debt Instrument [Line Items]
Obligation threshold for debt to become guaranteed	$ 100,000,000

Restructuring, Asset-Related, and Other Charges - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended	12 Months Ended
	Mar. 31, 2018 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2018 USD ($)	Dec. 31, 2020 USD ($) Employee	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 Employee	Dec. 31, 2021 USD ($)
Restructuring Cost and Reserve [Line Items]
Asset-related charges						$ 22	$ 43	$ 4
Restructuring charges						20	44	45
Environmental remediation liabilities	$ 3					71	200	101
Employee separation related liabilities		$ 7	$ 16			7	15	16
Severance costs						17	21	14
2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						(1)	3	27
Restructuring charges incurred to date		61				61
Employee separation related liabilities		0	10			0	1	10
2018 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						0	(1)	5
Employee separation related liabilities		0	5			0	0	5
Severance costs			5
2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						3	22	0
Restructuring charges incurred to date		25				25
Employee separation related liabilities		2	0			2	14	0
2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						13	0	0
Employee separation related liabilities		3	$ 0			3	0	0
Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						5	20	13
Corporate Function Efforts [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges							3	18
Voluntary Separation Program [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees eliminated as a result of restructuring activities \| Employee									300
Accrual of termination benefits recognized				$ 18
Voluntary Separation Program One-Time Financial Incentives [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
One time financial incentives recognized over the period for participating employee to provide service					$ 9
Methylamines and Methylamides Business [Member]
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation							34
Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Other charges						38	0	0
Operating Segments [Member] \| Methylamines and Methylamides Business [Member]
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation							34
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges						4	0	0
Corporate and Other [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						(1)	0	15
Corporate and Other [Member] \| 2018 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						0	(1)	5
Corporate and Other [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						0	9	0
Corporate and Other [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						5	0	0
Corporate and Other [Member] \| Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						1	18	9
Corporate and Other [Member] \| Deepwater, New Jersey [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges incurred to date		28				28
Corporate and Other [Member] \| Deepwater, New Jersey [Member] \| Decommissioning Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						1	18	9
Titanium Technologies [Member] \| Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation							9
Asset-related charges						0	9	0
Other charges						1	0	0
Titanium Technologies [Member] \| Operating Segments [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						0	1	1
Titanium Technologies [Member] \| Operating Segments [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						0	5	0
Titanium Technologies [Member] \| Operating Segments [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						3	0	0
Advanced Performance Materials [Member] \| Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges						10	0	0
Advanced Performance Materials [Member] \| Operating Segments [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						0	1	5
Advanced Performance Materials [Member] \| Operating Segments [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						2	4	0
Advanced Performance Materials [Member] \| Operating Segments [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						3	0	0
Chemical Solutions [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Long-lived assets		146				146
Chemical Solutions [Member] \| Contract Termination Fees [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Other charges		26
Chemical Solutions [Member] \| Other Related Prepaid Costs [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Other charges		11
Chemical Solutions [Member] \| Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges						8	34	4
Other charges						37	0	0
Chemical Solutions [Member] \| Operating Segments [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						0	0	2
Chemical Solutions [Member] \| Operating Segments [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						0	1	0
Chemical Solutions [Member] \| Operating Segments [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						1	0	0
Chemical Solutions [Member] \| Operating Segments [Member] \| Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						4	2	4
Chemical Solutions [Member] \| Operating Segments [Member] \| Niagara Falls, NY [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges incurred to date		40				40
Chemical Solutions [Member] \| Operating Segments [Member] \| Niagara Falls, NY [Member] \| Decommissioning Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						2	$ 2	$ 4
Chemical Solutions [Member] \| Operating Segments [Member] \| Niagara Falls, NY [Member] \| Additional Restructuring Charges [Member] \| Forecast [Member]
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges expected to be incurred										$ 3
Chemical Solutions [Member] \| Operating Segments [Member] \| Pascagoula, Mississippi [Member] \| Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges						10
Property, plant, and equipment and other asset impairments						6
Environmental remediation liabilities						$ 4
Environmental remediation liabilities paid over a period						16 years
Employee separation related liabilities		$ 2				$ 2
Number of employees eliminated as a result of restructuring activities \| Employee						75
Chemical Solutions [Member] \| Operating Segments [Member] \| Pascagoula, Mississippi [Member] \| Decommissioning Dismantling And Other Costs \| Forecast [Member]
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges expected to be incurred										$ 12

Leases - Narrative (Details)	12 Months Ended
Leases - Narrative (Details)	Dec. 31, 2020
Lessee Lease Description [Line Items]
Lease agreements initial terms	12 months
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease term of contract	19 years

Commitments and Contingent - Schedule of Components of Accrued Environmental Remediation Liabilities Related to PFAS (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Environmental Remediation [Line Items]
Total accrued liabilities	$ 390	$ 406
Fayetteville Works, Fayetteville, North Carolina [Member]
Environmental Remediation [Line Items]
Total accrued liabilities	194	201
Fayetteville Works, Fayetteville, North Carolina [Member] \| On-site Remediation [Member]
Environmental Remediation [Line Items]
Total accrued liabilities	140	155
Fayetteville Works, Fayetteville, North Carolina [Member] \| Off-site Groundwater Remediation [Member]
Environmental Remediation [Line Items]
Total accrued liabilities	$ 54	$ 46

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accrued Liabilities, Current [Abstract]
Compensation and other employee-related costs	$ 107	$ 52
Employee separation costs	7	15
Accrued litigation	37	10
Environmental remediation	95	74
Asset retirement obligations	13	7
Income taxes	64	65
Customer rebates	69	72
Deferred revenue	7	7
Accrued interest	18	21
Operating lease liabilities	57	66
Miscellaneous	103	95
Total other accrued liabilities	$ 577	$ 484

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income (loss)	$ 179	$ (124)	$ 1,155
Net (loss) income, tax	40	72	(159)
Net income (loss)	219	(52)	996
Hedging activities:
Unrealized (loss) gain on net investment hedge, pre-tax	(88)	20	32
Unrealized (loss) gain on net investment hedge, tax	22	(5)	(8)
Unrealized (loss) gain on net investment hedge, after tax	(66)	15	24
Unrealized (loss) gain on cash flow hedge, pre-tax	(8)	6	10
Unrealized gain on cash flow hedge, tax	1	(1)	(1)
Unrealized gain on cash flow hedge, after-tax	(7)	5	9
Reclassifications to net income - cash flow hedge, pre-tax	(3)	(10)	(4)
Reclassifications to net income - cash flow hedge, tax	0	1	1
Reclassifications to net income - cash flow hedge, after-tax	(3)	(9)	(3)
Hedging activities, net, pre-tax	(99)	16	38
Hedging activities, net, tax	23	(5)	(8)
Hedging activities, net, after-tax	(76)	11	30
Cumulative translation adjustment, pre-tax	111	2	(75)
Cumulative translation adjustment, tax	0	0	0
Cumulative translation adjustment, after-tax	111	2	(75)
Defined benefit plans:
Net gain (loss), pre-tax	4	(144)	(115)
Net gain (loss), tax	(1)	31	29
Net gain (loss), after-tax	3	(113)	(86)
Prior service (cost) benefit, pre-tax	(1)	5	0
Prior service (cost) benefit, tax	0	(1)	0
Prior service (cost) benefit, after-tax	(1)	4	0
Curtailment gain, pre-tax	4	0	0
Curtailment gain, tax	(1)	0	0
Curtailment gain, after-tax	3	0	0
Effect of foreign exchange rates, pre-tax	(9)	7	8
Effect of foreign exchange rates, tax	0	0	0
Effect of foreign exchange rates, after-tax	(9)	7	8
Amortization of actuarial loss, pre-tax	9	18	16
Amortization of actuarial loss, tax	(2)	(4)	(4)
Amortization of actuarial loss, after-tax	7	14	12
Amortization of prior service gain, pre- tax	(3)	(2)	(2)
Amortization of prior service gain, tax	0	0	0
Amortization of prior service gain, after-tax	(3)	(2)	(2)
Settlement loss, pre-tax	5	383	0
Settlement loss, tax	(1)	(91)	0
Settlement loss, after-tax	4	292	0
Defined benefit plans, net, pre-tax	9	267	(93)
Defined benefit plans, net, tax	(5)	(65)	25
Defined benefit plans, net, after-tax	4	202	(68)
Other comprehensive income (loss), after-tax	39	215	(113)
Comprehensive income, after-tax	258	163	874
Less: Comprehensive income attributable to non-controlling interests, after-tax	0	0	1
Comprehensive income attributable to Chemours, after-tax	258	163	873
Accounting Standards Update 2018-02 [Member]
Defined benefit plans:
Cumulative effect of adopting ASU No. 2018-02, after-tax	$ 0	$ 0	$ (9)

Debt - Senior Secured Credit Facilities - Narrative (Details)			3 Months Ended		12 Months Ended			39 Months Ended
	Apr. 08, 2020 USD ($)	Apr. 03, 2018 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Apr. 03, 2023	Apr. 03, 2018 EUR (€)
Line of Credit Facility [Line Items]
Loss on extinguishment of debt					$ (22,000,000)	$ 0	$ (38,000,000)
Revolving credit facility borrowed amount				$ 150,000,000	300,000,000	150,000,000	0
Repayment of outstanding borrowings					$ 300,000,000	150,000,000	0
Senior Secured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt instrument term		5 years
Line of credit facility, maximum borrowing capacity		$ 800,000,000
Line of credit facility, maturity date		Apr. 03, 2023
Maximum net leverage ratio		0.25%
Commitment fee percentage					0.20%
Loss on extinguishment of debt							3,000,000
Revolving credit facility borrowed amount	$ 300,000,000
Repayment of outstanding borrowings			$ 150,000,000
Long-term debt					$ 0	0
Letters of credit outstanding					$ 102,000,000	103,000,000
Senior Secured Revolving Credit Facility [Member] \| Domestic Subsidiary [Member]
Line of Credit Facility [Line Items]
Collateral as percentage of common stock		100.00%
Senior Secured Revolving Credit Facility [Member] \| Foreign Subsidiary [Member]
Line of Credit Facility [Line Items]
Collateral as percentage of common stock		65.00%
Senior Secured Revolving Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable rate		0.25%
Senior Secured Revolving Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable rate		0.10%
Senior Secured Revolving Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Variable rate		1.25%
Senior Secured Revolving Credit Facility [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Variable rate		1.00%
Senior Secured Revolving Credit Facility [Member] \| Euro Interbank Offered Rate [Member]
Line of Credit Facility [Line Items]
Variable rate		2.00%
Dollar Term Loan [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 900,000,000
Line of credit facility, maturity date		Apr. 03, 2025
Effective interest rates on senior secured term loan					1.90%
Dollar Term Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable rate		1.75%
Dollar Term Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable rate		0.00%
Dollar Term Loan [Member] \| Base Rate [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable rate		1.00%
Dollar Term Loan [Member] \| Base Rate [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable rate		0.75%
Euro Term Loan [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity \| €									€ 350,000,000
Line of credit facility, maturity date		Apr. 03, 2025
Effective interest rates on senior secured term loan					2.50%
Euro Term Loan [Member] \| Euro Interbank Offered Rate [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable rate		2.00%
Euro Term Loan [Member] \| Euro Interbank Offered Rate [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable rate		0.50%
Revolving Credit Facility [Member] \| Forecast [Member]
Line of Credit Facility [Line Items]
Maximum net leverage ratio								2.00%
Senior Secured Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Principal payment on term loans					$ 13,000,000	$ 13,000,000	$ 13,000,000
Senior Secured Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Debt instrument term		7 years

Long-term Employee Benefits (Summary of Projected Benefit Obligations and Accumulated Benefit Obligations in Excess of Plan Assets) (Details) - Pension Plan [Member] - Foreign [Member] - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Pension plans with projected benefit obligation in excess of plan assets
Projected benefit obligation	$ 175	$ 178
Accumulated benefit obligation	148	150
Fair value of plan assets	116	111
Pension plans with accumulated benefit obligation in excess of plan assets
Projected benefit obligation	153	178
Accumulated benefit obligation	131	150
Fair value of plan assets	$ 98	$ 111

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Stockholders Equity [Abstract]
Dividends per share declared during period	$ 1.00	$ 1.00	$ 0.67

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisition

The following table sets forth the Company’s fair value estimates of the assets acquired and liabilities assumed in the acquisition of ICOR, which were finalized during the fourth quarter of 2018.

	Fair Value At Acquisition Date		Measurement Period Adjustments			Adjusted Fair Value		Weighted-average Useful Life (in Years)
Assets acquired:
Accounts receivable - trade	$	4	$	—		$	4
Inventories		8		—			8
Property, plant, and equipment		1		—			1
Identifiable intangible asset:
Customer relationships (1)		20		2			22		5
Total assets acquired		33		2			35
Liabilities assumed:
Accounts payable		1		—			1
Other accrued liabilities		1		—			1
Total liabilities assumed		2		—			2
Total identifiable net assets acquired		31		2			33
Goodwill (1)		6		(2	)		4
Net assets acquired	$	37	$	—		$	37

(1)

During the third quarter of 2018, the Company recorded a measurement period adjustment to its customer relationships based on an ongoing analysis associated with the preparation of a third-party appraisal.

Other Assets

12 Months Ended

Dec. 31, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets

Note 17. Other Assets

The following table sets forth the components of the Company’s other assets at December 31, 2020 and 2019.

	December 31,
	2020		2019
Capitalized repair and maintenance costs	$	198	$	148
Pension assets (1)		79		59
Deferred income taxes		95		40
Miscellaneous		33		45
Total other assets	$	405	$	292

(1)

Pension assets represents the funded status of certain of the Company’s long-term employee benefit plans.

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 25. Accumulated Other Comprehensive Loss

The following table sets forth the components of accumulated other comprehensive loss, net of income taxes, for the years ended December 31, 2020, 2019, and 2018.

	Net Investment Hedge			Cash Flow Hedge			Cumulative Translation Adjustment			Defined Benefit Plans			Total
Balance at January 1, 2018	$	(40	)	$	—		$	(158	)	$	(244	)	$	(442	)
Other comprehensive income (loss)		15			6			(75	)		(68	)		(122	)
Balance at December 31, 2018		(25	)		6			(233	)		(312	)		(564	)
Other comprehensive income (loss)		15			(4	)		2			202			215
Balance at December 31, 2019		(10	)		2			(231	)		(110	)		(349	)
Other comprehensive (loss) income		(66	)		(10	)		111			4			39
Balance at December 31, 2020	$	(76	)	$	(8	)	$	(120	)	$	(106	)	$	(310	)

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 9. Income Taxes

The following table sets forth the components of the Company’s provision for (benefit from) income taxes for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Current tax expense (benefit):
U.S. federal	$	4		$	13		$	23
U.S. state and local		1			(1	)		4
International		75			79			110
Total current tax expense		80			91			137
Deferred tax expense (benefit):
U.S. federal		(86	)		(77	)		20
U.S. state and local		(12	)		(5	)		3
International		(22	)		(81	)		(1	)
Total deferred tax (benefit) expense		(120	)		(163	)		22
Total (benefit from) provision for income taxes	$	(40	)	$	(72	)	$	159

The following table sets forth the components of the Company’s deferred tax assets and liabilities at December 31, 2020 and 2019.

	December 31,
	2020			2019
Deferred tax assets:
Environmental and other liabilities	$	103		$	99
Accrued litigation		21			37
Stock-based compensation and accrued employee benefits		50			29
Other assets and other accrued liabilities		43			19
Tax attribute carryforwards		134			96
Operating lease liability		60			75
Foreign tax credit carryforwards		7			18
Total deferred tax assets		418			373
Less: Valuation allowance		(24	)		(10	)
Total deferred tax assets, net		394			363
Deferred tax liabilities:
Pension and other liabilities		(12	)		(7	)
Property, plant, and equipment		(258	)		(320	)
Operating lease asset		(56	)		(71	)
Inventories and other assets		(8	)		(43	)
Total deferred tax liabilities		(334	)		(441	)
Deferred tax assets (liabilities), net	$	60		$	(78	)

The following table sets forth an analysis of the Company’s effective tax rates for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020						2019						2018
	$			%			$			%			$			%
Statutory U.S. federal income tax rate	$	38			21.0	%	$	(26	)		21.0	%	$	243			21.0	%
State income taxes, net of federal benefit		(11	)		(6.1	)%		(7	)		5.6	%		7			0.6	%
Lower effective tax rate on international operations, net		(34	)		(19.0	)%		(28	)		22.7	%		(44	)		(3.8	)%
Depletion		(6	)		(3.4	)%		(5	)		4.0	%		(6	)		(0.5	)%
Exchange gains		—			—	%		(7	)		5.6	%		(4	)		(0.3	)%
Provision to return and other adjustments		(37	)		(20.6	)%		(4	)		3.2	%		(9	)		(0.8	)%
Valuation allowance		13			7.3	%		8			(6.5	)%		(15	)		(1.3	)%
Net impact of U.S. tax reform		—			—	%		—			—	%		(10	)		(0.9	)%
Stock-based compensation		—			—	%		(14	)		11.4	%		(14	)		(1.2	)%
Executive compensation limitation		1			0.6	%		9			(7.3	)%		4			0.3	%
R&D credit		(7	)		(3.8	)%		(6	)		4.8	%		(5	)		(0.4	)%
Uncertain tax positions		(1	)		(0.5	)%		7			(5.6	)%		2			0.2	%
Other, net		4			2.2	%		1			(0.8	)%		10			0.9	%
Total effective tax rate	$	(40	)		(22.3	)%	$	(72	)		58.1	%	$	159			13.8	%

The following table sets forth the Company’s income (loss) before income taxes for its U.S. and international operations for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
U.S. operations (including exports)	$	(136	)	$	(375	)	$	114
International operations		315			251			1,041
Total income (loss) before income taxes	$	179		$	(124	)	$	1,155

Other Matters

With respect to U.S. tax reform, while management has completed its analysis within the applicable measurement period, pursuant to Staff Accounting Bulletin No. 118 as issued by the SEC, the Company accounts for the tax impacts of new provisions based on interpretation of existing statutory law, including proposed regulations issued by the U.S. Treasury and the Internal Revenue Service (“IRS”). While there can be no assurances as to the effect of any final regulations on the Company’s provision for (benefit from) income taxes, management will continue to evaluate the impacts as any issued regulations become final and adjust our estimates, as appropriate.

Management believes there is sufficient liquidity available in the U.S. As a result, management asserts that it is indefinitely reinvested with respect to all undistributed earnings prior to 2018 and, therefore, has not recorded deferred tax liabilities with respect to those earnings. Beginning in 2018, management determined that the Company’s earnings from certain foreign subsidiaries are not indefinitely reinvested and presumed such earnings will be distributed to the U.S. At December 31, 2020 and 2019, deferred tax liabilities for the foreign subsidiaries that are not indefinitely reinvested were not material to the Company’s consolidated financial statements. The potential tax implications of the repatriation of unremitted earnings are driven by the facts at the time of distribution; however, due to U.S. tax reform and the U.S. Transition Tax, the incremental cost to repatriate earnings is not expected to be material. At December 31, 2020, the amount of unremitted earnings where the Company is indefinitely reinvested was approximately $619.

In the United States, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was passed on March 27, 2020. This legislative relief, as well as other government relief programs, include measures that could impact direct and indirect tax provisions. Management has analyzed the relief in jurisdictions in which the Company operates, and the applicable impacts, which are not material to the Company’s benefit from income taxes for the year ended December 31, 2020.

For the year ended December 31, 2020, the Company recorded $12 of valuation allowance on certain foreign subsidiary net deferred tax assets and $2 of valuation allowance on certain foreign tax credits. For the year ended December 31, 2019, the Company recorded $5 of valuation allowance on certain foreign subsidiary net deferred tax assets and $3 of valuation allowance on certain foreign tax credits.

Under the tax laws of various jurisdictions in which the Company operates, deductions or credits that cannot be fully utilized for tax purposes during the current year may be carried forward or back, subject to statutory limitations, to reduce taxable income or taxes payable in future or prior years. At December 31, 2020, the Company’s U.S federal and state tax losses amounted to $10, which substantially expire between 2036 and 2039. The Company has $31 in R&D tax credits, which expire between 2035 and 2040, foreign net operating losses of $12, which expire between 2026 and 2030, and $7 of certain foreign tax credits, which expire between 2025 and 2030.

Each year, Chemours and/or its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and non-U.S. jurisdictions.

The following table sets forth the Company’s significant jurisdictions’ tax returns that are subject to examination by their respective taxing authorities for the open years listed.

Jurisdiction		Open Years
China		2015 through 2020
India		2015 through 2020
Mexico		2015 through 2020
Netherlands		2017 through 2020
Singapore		2016 through 2020
Switzerland		2017 through 2020
Taiwan		2015 through 2020
U.S.		2017 through 2020

Positions challenged by the taxing authorities may be settled or appealed by Chemours and/or EID in accordance with the tax matters agreement. As a result, income tax uncertainties are recognized in the Company’s consolidated financial statements in accordance with accounting for income taxes, when applicable.

The following table sets forth the change in the Company’s unrecognized tax benefits for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019		2018
Balance at January 1,	$	9		$	2	$	—
Gross amounts of decreases in unrecognized tax benefits as a result of adjustments to tax provisions taken during the prior period		(2	)		—		—
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken during the current period		1			7		2
Reduction to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations		(1	)		—		—
Balance at December 31,	$	7		$	9	$	2

Total unrecognized tax benefits, if recognized, that would impact the effective tax rate	$	8		$	9	$	2
Total amount of interest and penalties recognized in the consolidated statements of operations		1			—		—
Total amount of interest and penalties recognized in the consolidated balance sheets		1			—		—

The following table sets forth a rollforward of the Company’s deferred tax asset valuation allowance for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019		2018
Balance at January 1,	$	10	$	2	$	17
Net charges to income tax expense		14		8		—
Release of valuation allowance		—		—		(15	)
Balance at December 31,	$	24	$	10	$	2

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Financial Instruments - Schedule of Pre-tax Charge Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Accumulated Other Comprehensive Income (Loss)	$ (88)	$ 20	$ 32
Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Accumulated Other Comprehensive Income (Loss)	(4)	6	10
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Accumulated Other Comprehensive Income (Loss)	(4)
Euro Denominated Debt [Member] \| Designated as Hedging Instrument [Member] \| Net Investment Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Accumulated Other Comprehensive Income (Loss)	(88)	20	32
Cost of Goods Sold [Member] \| Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Derivative Instruments	3	10	4
Other Income (Expense), Net [Member] \| Foreign currency forward contracts [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Derivative Instruments	$ 29	$ (2)	$ 3

Accounts Payable

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Accounts Payable

Note 18. Accounts Payable

The following table sets forth the components of the Company’s accounts payable at December 31, 2020 and 2019.

	December 31,
	2020		2019
Trade payables	$	820	$	901
VAT and other payables		24		22
Total accounts payable	$	844	$	923

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Accrued Litigation and Balance Sheet Locations (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Accrued litigation	$ 37	$ 10
PFOA Multi District Litigation in Ohio [Member]
Loss Contingencies [Line Items]
Accrued litigation	$ 29

Other Income (Expense), Net

12 Months Ended

Dec. 31, 2020

Other Income And Expenses [Abstract]

Other Income (Expense), Net

Note 8. Other Income (Expense), Net

The following table sets forth the components of the Company’s other income (expense), net for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Leasing, contract services, and miscellaneous income (1)	$	20		$	51		$	79
Royalty income (2)		18			16			10
Gain on sales of assets and businesses (3)		8			10			45
Exchange (losses) gains, net (4)		(26	)		(2	)		1
Non-operating pension and other post-retirement employee benefit income (cost) (5)		1			(368	)		27
Total other income (expense), net	$	21		$	(293	)	$	162

(1)

Leasing, contract services, and miscellaneous income includes European Union fluorinated greenhouse gas quota authorization sales of $3, $41, and $67 for the years ended December 31, 2020, 2019, and 2018, respectively.

(2)

Royalty income for the years ended December 31, 2020, 2019, and 2018 is primarily from technology licensing.

(3)

For the year ended December 31, 2020, gain on sale includes a $6 gain associated with the sale of the Company’s Oakley, California site, which was contingent upon the completion of certain environmental remediation activities at the site. For the year ended December 31, 2019, gain on sale includes a non-cash gain of $9 recognized in connection with the Company’s sale of its Repauno, New Jersey site; the gain had been deferred until certain environmental obligations were fulfilled. For the year ended December 31, 2018, gain on sale includes a $3 gain and a $42 gain associated with the sales of the Company’s East Chicago, Indiana and Linden, New Jersey sites, respectively.

(4)

Exchange (losses) gains, net includes gains and losses on the Company’s foreign currency forward contracts that have not been designated as a cash flow hedge.

(5)

Non-operating pension and other post-retirement employee benefit income (cost) represents the components of net periodic pension income (cost), excluding the service cost component. The year ended December 31, 2019 includes a $380 settlement loss related to a significant portion of the Company’s Netherlands pension plan, specific to the vested pension benefits of the inactive participants. Refer to “Note 27 – Long-term Employee Benefits” for further details.

Long-term Employee Benefits (Amounts Recognized in Accumulated Other Comprehensive Loss) (Details) - Pension Plan [Member] - Foreign [Member] - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net loss	$ 143	$ 151	$ 419
Prior service credit	(12)	(14)	(10)
Total amount recognized in accumulated other comprehensive loss	$ 131	$ 137	$ 409

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

Note 14. Leases

The Company leases certain office space, lab space, equipment, railcars, tanks, barges, tow boats, and warehouses. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets, and lease expense is recognized over the term of these leases on a straight-line basis. The Company’s leases have remaining terms of up to 19 years. Some leases of equipment contain immaterial amounts of residual value guarantees.

The following table sets forth the Company’s lease assets and lease liabilities and their balance sheet locations at December 31, 2020 and 2019.

		December 31,
	Balance Sheet Location	2020		2019
Lease assets:
Operating lease right-of-use assets	Operating lease right-of-use assets	$	236	$	294
Finance lease assets	Property, plant, and equipment, net (Note 13)		69		58
Total lease assets		$	305	$	352

Lease liabilities:
Current:
Operating lease liabilities	Other accrued liabilities (Note 19)	$	57	$	66
Finance lease liabilities	Short-term and current maturities of long-term debt (Note 20)		7		5
Total current lease liabilities			64		71
Non-current:
Operating lease liabilities	Operating lease liabilities		194		245
Finance lease liabilities	Long-term debt, net (Note 20)		67		54
Total non-current lease liabilities			261		299
Total lease liabilities		$	325	$	370

The following table sets forth the components of the Company’s lease cost for the years ended December 31, 2020 and 2019.

	Year Ended December 31,
	2020		2019
Operating lease cost	$	88	$	99
Short-term lease cost		5		5
Variable lease cost		20		16

Finance lease cost:
Amortization of lease assets		8		5
Interest on lease liabilities		4		2
Total lease cost	$	125	$	127

The following table sets forth the cash flows related to the Company’s leases for the years ended December 31, 2020 and 2019.

	Year Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	91	$	101
Operating cash flows from finance leases		4		2
Financing cash flows from finance leases		6		3

Non-cash lease liabilities activity:
Leased assets obtained in exchange for new operating lease liabilities	$	23	$	48
Leased assets obtained in exchange for new finance lease liabilities		19		62

The following table sets forth the weighted-average terms and weighted-average discount rates for the Company’s leases at December 31, 2020 and 2019.

	December 31,
	2020			2019
Weighted-average remaining lease term (years):
Operating leases		8.6			8.5
Finance leases		7.9			9.2

Weighted-average discount rate:
Operating leases		5.00	%		5.10	%
Finance leases		5.40	%		5.90	%

The following table sets forth the Company’s lease liabilities’ maturities for the next five years and thereafter.

	Operating Leases		Finance Leases		Total
2021	$	69	$	12	$	81
2022		52		11		63
2023		37		11		48
2024		30		11		41
2025		24		11		35
Thereafter		94		35		129
Total lease payments		306		91		397
Less: Imputed interest		55		17		72
Present value of lease liabilities	$	251	$	74	$	325

The Chemours Discovery Hub

In October 2017, Chemours executed a build-to-suit lease agreement to construct a new 312,000-square-foot R&D facility on the Science, Technology, and Advanced Research campus of the University of Delaware (“UD”) in Newark, Delaware (“Chemours Discovery Hub”). Chemours was deemed to be the owner for accounting purposes during construction of the facility. Construction was completed in the fourth quarter of 2019, and, upon its completion, Chemours evaluated whether a sale occurred for purposes of sale-leaseback accounting treatment. The Company determined that this transaction did not qualify for sale-leaseback accounting, and, as a result, the leasing arrangement is considered to be a financing transaction. At completion of the construction, the build-to-suit lease liability was reclassified as a financing obligation within long-term debt, net, and the build-to-suit lease asset was capitalized in property, plant and equipment, net. At December 31, 2020 and 2019, a financing obligation of $94 and $95, respectively, and property, plant, and equipment of $92 and $95, respectively, are recorded on the Company’s consolidated balance sheet.

The following table sets forth the Company’s minimum future payments due for the next five years and thereafter related to the Chemours Discovery Hub financing obligation.

2021	$	6
2022		6
2023		7
2024		7
2025		7
Thereafter		154
Total payments	$	187

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,105	$ 943
Accounts and notes receivable, net	511	674
Inventories	939	1,079
Prepaid expenses and other	78	81
Total current assets	2,633	2,777
Property, plant, and equipment	9,582	9,413
Less: Accumulated depreciation	(6,108)	(5,854)
Property, plant, and equipment, net	3,474	3,559
Operating lease right-of-use assets	236	294
Goodwill, net	153	153
Other intangible assets, net	14	21
Investments in affiliates	167	162
Other assets	405	292
Total assets	7,082	7,258
Current liabilities:
Accounts payable	844	923
Short-term and current maturities of long-term debt	21	134
Other accrued liabilities	577	484
Total current liabilities	1,442	1,541
Long-term debt, net	4,005	4,026
Operating lease liabilities	194	245
Deferred income taxes	36	118
Other liabilities	590	633
Total liabilities	6,267	6,563
Commitments and contingent liabilities
Equity
Common stock (par value $0.01 per share; 810,000,000 shares authorized; 190,239,883 shares issued and 164,920,648 shares outstanding at December 31, 2020; 188,893,478 shares issued and 163,574,243 shares outstanding at December 31, 2019)	2	2
Treasury stock, at cost (25,319,235 shares at December 31, 2020 and 2019)	(1,072)	(1,072)
Additional paid-in capital	890	859
Retained earnings	1,303	1,249
Accumulated other comprehensive loss	(310)	(349)
Total Chemours stockholders’ equity	813	689
Non-controlling interests	2	6
Total equity	815	695
Total liabilities and equity	$ 7,082	$ 7,258

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Weighted Average Assumptions of Stock Options

The following table sets forth the weighted-average assumptions used at the respective grant dates to determine the fair values of the Company’s stock option awards granted during the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Risk-free interest rate		0.94	%		2.53	%		2.65	%
Expected term (years)		6.00			6.00			6.00
Volatility		53.18	%		48.05	%		47.56	%
Dividend yield		6.93	%		2.81	%		1.42	%
Fair value per stock option	$	3.74		$	13.66		$	20.47

Schedule of Stock Options Activity

The following table sets forth Chemours’ stock option activity for the years ended December 31, 2020, 2019, and 2018.

	Number of Shares (in Thousands)			Weighted-average Exercise Price (per Share)		Weighted-average Remaining Contractual Term (in Years)		Aggregate Intrinsic Value (in Thousands)
Outstanding, December 31, 2017		6,597		$	15.72		5.11	$	226,524
Granted		495			48.41
Exercised		(1,073	)		14.69
Forfeited		(46	)		37.77
Expired		(3	)		18.80
Outstanding, December 31, 2018		5,970		$	18.45		4.80	$	72,108
Granted		836			36.48
Exercised		(590	)		14.56
Forfeited		(110	)		39.06
Expired		(50	)		22.12
Outstanding, December 31, 2019		6,056		$	20.92		4.71	$	19,087
Granted		2,778			14.42
Exercised		(1,124	)		14.23
Forfeited		(186	)		23.84
Expired		(165	)		29.99
Outstanding, December 31, 2020		7,359		$	19.21		6.21	$	63,894
Exercisable, December 31, 2020		4,050		$	19.38		4.00	$	35,958

Schedule of Restricted Stock Units Activity

The following table sets forth non-vested RSUs at December 31, 2020, 2019, and 2018.

	Number of Shares (in Thousands)			Weighted-average Grant Date Fair Value (per Share)
Non-vested, December 31, 2017		1,165		$	15.34
Granted		135			48.35
Vested		(1,034	)		14.86
Forfeited		(19	)		30.94
Non-vested, December 31, 2018		247		$	34.22
Granted		439			26.89
Vested		(110	)		24.98
Forfeited		(30	)		33.90
Non-vested, December 31, 2019		546		$	29.95
Granted		585			17.01
Vested		(161	)		38.68
Forfeited		(60	)		25.78
Non-vested, December 31, 2020		910		$	20.51

Schedule of Performance Share Units Activity

The following table sets forth non-vested PSUs at 100% of target amounts at December 31, 2020, 2019, and 2018.

	Number of Shares (in Thousands)			Weighted-average Grant Date Fair Value (per Share)
Non-vested, December 31, 2017		987		$	12.94
Granted		139			52.34
Vested		(19	)		24.16
Non-vested, December 31, 2018		1,107		$	17.71
Granted		240			44.38
Vested (1)		(761	)		5.07
Forfeited		(57	)		43.35
Non-vested, December 31, 2019		529		$	39.53
Granted		542			17.14
Vested		(176	)		35.84
Forfeited		(51	)		27.79
Non-vested, December 31, 2020		844		$	29.05

(1)

During the year ended December 31, 2019, approximately 1,520,000 PSUs granted in 2016 to the Company’s key senior management employees vested, based on the attainment of certain performance- and market-based conditions. Of the 1,520,000 PSUs that vested during the year ended December 31, 2019, approximately 680,000 non-issued shares were cancelled to cover the employee portion of income taxes related to such awards.

Accounts Payable - Schedule of Accounts Payable (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Trade payables	$ 820	$ 901
VAT and other payables	24	22
Total accounts payable	$ 844	$ 923

Restructuring, Asset-Related, and Other Charges - Schedule of Restructuring Program (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Asset-related charges	$ 22	$ 43	$ 4
Operating Segments [Member] \| Chemical Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	$ 8	$ 34	$ 4

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Accrued Litigation and Balance Sheet Locations (Details) - USD ($)
$ in Millions

Dec. 31, 2020

Dec. 31, 2019

Accrued Litigation:

Current accrued litigation

$ 37

$ 10

Long-term accrued litigation

Total accrued litigation

Other Accrued Liabilities [Member]

Accrued Litigation:

Current accrued litigation

^[1]

Other Liabilities [Member]

Accrued Litigation:

Long-term accrued litigation

$ 51

$ 50

[1]	At December 31, 2020, current accrued litigation includes $29 associated with the Company’s portion of the costs to settle PFOA multi-district litigation in Ohio.

Net Sales - Summary of Contract Balances from Contracts with Customers (Parenthetical) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Accounts receivable - trade, net	$ 449,000,000	$ 602,000,000
Allowance for doubtful accounts receivable	7,000,000	5,000,000
Trade Notes Receivable [Member] \| Maximum [Member]
Disaggregation Of Revenue [Line Items]
Accounts receivable - trade, net	$ 1,000,000	$ 1,000,000

Accounts and Notes Receivable, Net

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Accounts and Notes Receivable, Net

Note 11. Accounts and Notes Receivable, Net

The following table sets forth the components of the Company’s accounts and notes receivable, net at December 31, 2020 and 2019.

	December 31,
	2020		2019
Accounts receivable - trade, net (1,2)	$	449	$	602
VAT, GST, and other taxes (3)		49		59
Other receivables (4)		13		13
Total accounts and notes receivable, net	$	511	$	674

(1)

(2)

On January 1, 2020, the Company adopted ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, the effect of which was not material to its account receivable - trade or its allowance for doubtful accounts. Refer to “Note 3 – Summary of Significant Accounting Policies” for further details.

(3)

Value added tax (“VAT”) and goods and services tax (“GST”) for various jurisdictions.

(4)

Other receivables consist of derivative instruments, advances, and other deposits.

Accounts and notes receivable are carried at amounts that approximate fair value. Bad debt expense amounted to $3 for the year ended December 31, 2020, and less than $1 for the years ended December 31, 2019 and 2018.

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets and Liabilities At Fair Value

The following table sets forth the fair value of the Company’s derivative assets and liabilities at December 31, 2020 and 2019.

		Fair Value Using Level 2 Inputs
	Balance Sheet Location	December 31, 2020		December 31, 2019
Asset derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Accounts and notes receivable, net (Note 11)	$	4	$	1
Foreign currency forward contracts designated as a cash flow hedge	Accounts and notes receivable, net (Note 11)		—		1
Total asset derivatives		$	4	$	2

Liability derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Other accrued liabilities (Note 19)	$	1	$	1
Foreign currency forward contracts designated as a cash flow hedge	Other accrued liabilities (Note 19)		4		—
Interest rate swaps designated as a cash flow hedge	Other accrued liabilities (Note 19)		3		—
Total liability derivatives		$	8	$	1

Schedule of Pre-tax Charge Fair Value of Financial Instruments

The following table sets forth the pre-tax changes in fair value of the Company’s financial instruments for the years ended December 31, 2020, 2019, and 2018.

	Gain (Loss) Recognized In
								Accumulated Other
	Cost of		Interest		Other Income			Comprehensive
Year Ended December 31,	Goods Sold		Expense, Net		(Expense), Net			Loss
2020
Foreign currency forward contracts not designated as a hedging instrument	$	—	$	—	$	29		$	—
Foreign currency forward contracts designated as a cash flow hedge		3		—		—			(4	)
Interest rate swaps designated as a cash flow hedge		—		—		—			(4	)
Euro-denominated debt designated as a net investment hedge		—		—		—			(88	)

2019
Foreign currency forward contracts not designated as a hedging instrument	$	—	$	—	$	(2	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		10		—		—			6
Euro-denominated debt designated as a net investment hedge		—		—		—			20

2018
Foreign currency forward contracts not designated as a hedging instrument	$	—	$	—	$	3		$	—
Foreign currency forward contracts designated as a cash flow hedge		4		—		—			10
Euro-denominated debt designated as a net investment hedge		—		—		—			32

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

Note 20. Debt

The following table sets forth the components of the Company’s debt at December 31, 2020 and 2019.

	December 31,
	2020			2019
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	875		$	884
Tranche B-2 euro term loan due April 2025 (€340 at December 31, 2020 and €344 at December 31, 2019)		417			383
Senior unsecured notes:
6.625% due May 2023		—			908
7.000% due May 2025		750			750
4.000% due May 2026 (€450 at December 31, 2020 and 2019)		551			501
5.375% due May 2027		500			500
5.750% due November 2028		800			—
Securitization Facility		—			110
Finance lease liabilities		74			59
Financing obligation (1)		94			95
Other		—			6
Total debt principal		4,061			4,196
Less: Unamortized issue discounts		(7	)		(8	)
Less: Unamortized debt issuance costs		(28	)		(28	)
Less: Short-term and current maturities of long-term debt		(21	)		(134	)
Total long-term debt, net	$	4,005		$	4,026

(1)

Senior Secured Credit Facilities

The Company’s credit agreement, as amended and restated on April 3, 2018, (“Credit Agreement”) provides for a seven-year, senior secured term loan facility and a five-year, $800 senior secured revolving credit facility (“Revolving Credit Facility”) (collectively, the “Senior Secured Credit Facilities”).

The senior secured term loan facility under the Senior Secured Credit Facilities provides for a class of term loans, denominated in U.S. dollars, in an aggregate principal amount of $900 (“Dollar Term Loan”) and a class of term loans, denominated in euros, in an aggregate principal amount of €350 (“Euro Term Loan”) (collectively, the “Term Loans”). The Dollar Term Loan bears a variable interest rate equal to, at the election of the Company, adjusted LIBOR plus 1.75% or adjusted base rate plus 0.75%, subject to an adjusted LIBOR or an adjusted base rate floor of 0.00% or 1.00%, respectively. The Euro Term Loan bears a variable interest rate equal to adjusted EURIBOR plus 2.00%, subject to an adjusted EURIBOR floor of 0.50%. The Term Loans will mature on April 3, 2025, and are subject to acceleration in certain circumstances.

The proceeds of any loans made under the Revolving Credit Facility can be used for working capital needs and other general corporate purposes, including permitted acquisitions, as defined in the Credit Agreement. The Revolving Credit Facility bears a variable interest rate range based on the Company’s total net leverage ratio, as defined in the Credit Agreement, between (i) a 0.25% and a 1.00% spread for adjusted base rate loans, and (ii) a 1.25% and a 2.00% spread for LIBOR and EURIBOR loans. In addition, the Company is required to pay a commitment fee on the average daily unused amount of the Revolving Credit Facility within an interest rate range based on its total net leverage ratio, between 0.10% and 0.25%. The Revolving Credit Facility is scheduled to mature on April 3, 2023, and is subject to acceleration in certain circumstances.

At December 31, 2020, the effective interest rates on the Dollar Term Loan and the Euro Term Loan were 1.9% and 2.5%, respectively, and commitment fees on the Revolving Credit Facility were assessed at a rate of 0.20% per annum. In connection with the amendment of the Senior Secured Credit Facilities, the Company incurred a loss on debt extinguishment of $3 for the year ended December 31, 2018.

On April 8, 2020, as a precautionary measure in light of macroeconomic uncertainties driven by COVID-19, the Company drew $300 from its Revolving Credit Facility; the borrowings were subsequently repaid during the third quarter of 2020. In the second quarter of 2019, the Company drew $150 under its Revolving Credit Facility for general corporate purposes; the borrowings were subsequently repaid during the third quarter of 2019. No borrowings were outstanding under the Revolving Credit Facility at December 31, 2020 and 2019. Chemours also had $102 and $103 in letters of credit issued and outstanding under the Revolving Credit Facility at December 31, 2020 and 2019, respectively.

Under the Credit Agreement, solely with respect to the Revolving Credit Facility, the Company is required to maintain a senior secured net leverage ratio not to exceed 2.00 to 1.00 in each quarter, through the date of maturity. In addition, the Credit Agreement contains customary affirmative and negative covenants that, among other things, limit or restrict the Company’s and its subsidiaries’ ability, subject to certain exceptions, to incur additional indebtedness or liens, pay dividends, and engage in certain transactions, including mergers, acquisitions, asset sales, or investments, outside of specified carve-outs. The Credit Agreement also contains customary representations and warranties and events of default. The Company was in compliance with its debt covenants at December 31, 2020 and 2019.

For the years ended December 31, 2020, 2019, and 2018, the Company made principal payments of $13 on its Term Loans. The Company’s obligations under the Senior Secured Credit Facilities are guaranteed on a senior secured basis by all of its material domestic subsidiaries, which are also guarantors of the Company’s outstanding notes, subject to certain exceptions. The obligations under the Senior Secured Credit Facilities are also, subject to certain exceptions, secured by a first priority lien on substantially all of the Company’s assets and substantially all of the assets of its wholly-owned, material domestic subsidiaries, including 100% of the stock of certain of its domestic subsidiaries and 65% of the stock of certain of its foreign subsidiaries.

Senior Unsecured Notes

Senior Unsecured Notes Due May 2023 and May 2025

On May 12, 2015, Chemours issued an aggregate principal amount of $2,503 in senior unsecured notes consisting of an aggregate principal amount of $1,350 6.625% senior unsecured notes due May 2023, denominated in U.S. dollars (the “2023 Dollar Notes”), an aggregate principal amount of €360 6.125% senior unsecured notes due May 2023, denominated in euros (the “2023 Euro Notes”), and an aggregate principal amount of $750 7.000% senior unsecured notes due May 2025, denominated in U.S dollars (the “2025 Notes”) (collectively, the “Original Notes”). The Original Notes required or require, as applicable, payment of principal at maturity and payments of interest semi-annually in cash and in arrears on May 15 and November 15 of each year. The proceeds from the Original Notes were issued to fund a cash distribution to EID in connection with the Separation. As discussed in more detail below, the Company purchased or redeemed, as applicable, all of the outstanding 2023 Euro Notes and a $250 aggregate principal amount of the 2023 Dollar Notes during the year ended December 31, 2018. The Company purchased or redeemed, as applicable, the remaining $908 aggregate principal amount of the 2023 Dollar Notes during the year ended December 31, 2020.

The Original Notes were or are, as applicable, fully and unconditionally guaranteed, jointly and severally, on a senior unsecured unsubordinated basis, by each of Chemours’ existing and future direct or indirect domestic restricted subsidiaries that (i) incurs or guarantees indebtedness under the Senior Secured Credit Facilities, or (ii) guarantees certain other indebtedness of the Company or any guarantor in an aggregate principal amount in excess of $75. The Original Notes were or are, as applicable, unsecured and unsubordinated by Chemours and its guarantor subsidiaries. The Original Notes ranked or rank, as applicable, equally in right of payment to all of Chemours’ existing and future unsecured unsubordinated debt and senior in right of payment to all of its existing and future debt that is by its terms expressly subordinated in right of payment to the Original Notes. The Original Notes were or are, as applicable, subordinated to indebtedness under the Senior Secured Credit Facilities, as well as any future secured debt to the extent of the value of the assets securing such debt, and are structurally subordinated to the liabilities of any non-guarantor subsidiaries.

Pursuant to the terms of the indenture governing the Original Notes, the Company was or is, as applicable, obligated to offer to purchase the Original Notes at a price of (i) 101% of their principal amount, together with accrued and unpaid interest, if any, up to, but not including, the date of purchase, upon the occurrence of certain change of control events, and (ii) 100% of their principal amount, together with accrued and unpaid interest, if any, up to, but not including, the date of purchase, with the proceeds from certain asset dispositions. These restrictions and prohibitions were or are, as applicable, subject to certain qualifications and exceptions set forth in the indenture governing the Original Notes, including without limitation, reinvestment rights with respect to the proceeds of asset dispositions. The Company may also redeem some or all of the remaining Original Notes (i.e., the 2025 Notes) by means other than a redemption, including tender offer and open market repurchases.

Chemours may redeem some or all of the remaining Original Notes (i.e., the 2025 Notes) on or after May 15, 2020 at specified redemption prices. Pursuant to the terms of the tax matters agreement entered into at the time of the Separation, the Company’s ability to pre-pay, pay down, redeem, retire, or otherwise acquire the 2025 Notes is limited in the absence of obtaining certain tax opinions.

Senior Unsecured Notes Due May 2027

On May 23, 2017, the Company issued a $500 aggregate principal amount of 5.375% senior unsecured notes due May 2027 (the “2027 Notes”). The 2027 Notes require payment of principal at maturity and interest semi-annually in cash and in arrears on May 15 and November 15 of each year. The Company received proceeds of $489, net of an original issue discount of $5 and underwriting fees and other related expenses of $6, which are deferred and amortized to interest expense using the effective interest method over the term of the 2027 Notes. A portion of the net proceeds from the 2027 Notes was used to pay the $335 accrued for the First MDL Settlement, as discussed in “Note 22 – Commitments and Contingent Liabilities”. The remaining proceeds from the 2027 Notes were available for general corporate purposes.

The 2027 Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured unsubordinated basis by each of the Company’s existing and future direct and indirect domestic restricted subsidiaries that (i) incurs or guarantees indebtedness under the Senior Secured Credit Facilities, or (ii) guarantees certain other indebtedness of the Company or any guarantor in an aggregate principal amount in excess of $100. The guarantees of the 2027 Notes will rank equally with all other senior indebtedness of the guarantors. The 2027 Notes rank equally in right of payment to all of the Company’s existing and future unsecured unsubordinated debt and are senior in right of payment to all of its existing and future debt that is by its terms expressly subordinated in right of payment to the 2027 Notes. The 2027 Notes are subordinated to indebtedness under the Senior Secured Credit Facilities, as well as any future secured debt to the extent of the value of the assets securing such debt, and structurally subordinated to the liabilities of any non-guarantor subsidiaries.

Pursuant to the terms of the indenture governing the 2027 Notes, the Company is obligated to offer to purchase the 2027 Notes at a price of 101% of the principal amount, together with accrued and unpaid interest, if any, up to, but not including, the date of purchase, upon the occurrence of certain change of control events. The Company may redeem the 2027 Notes, in whole or in part, at an amount equal to 100% of the aggregate principal amount plus a specified “make-whole” premium and accrued and unpaid interest, if any, to the date of purchase prior to February 15, 2027. The Company may also redeem some or all of the 2027 Notes by means other than a redemption, including tender offer and open market repurchases.

Senior Unsecured Notes Due May 2026

On June 6, 2018, the Company issued an aggregate principal amount of €450 4.000% senior unsecured notes due May 2026, denominated in euros (the “2026 Euro Notes”). The 2026 Euro Notes require payment of principal at maturity and payments of interest semi-annually in cash and in arrears on May 15 and November 15 of each year. The Company received net proceeds of €445, which, together with cash on hand, were used to purchase or redeem, as the case may be, all of the outstanding 2023 Euro Notes and a $250 aggregate principal amount of the 2023 Dollar Notes pursuant to the Tender Offers (as defined below) and the redemption of the 2023 Euro Notes, as well as pay for any fees and expenses in connection therewith. In connection with the concurrent redemption of the 2023 Euro Notes and issuance of the 2026 Euro Notes, the Company incurred a loss on extinguishment of $35 for the year ended December 31, 2018.

The 2026 Euro Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured unsubordinated basis by each of the Company’s existing and future direct and indirect domestic restricted subsidiaries that (i) incurs or guarantees indebtedness under the Senior Secured Credit Facilities, or (ii) guarantees certain other indebtedness of the Company or any guarantor in an aggregate principal amount in excess of $100. The guarantees of the 2026 Euro Notes will rank equally with all other senior indebtedness of the guarantors. The 2026 Euro Notes also rank equally in right of payment to all of the Company’s existing and future unsecured unsubordinated debt and are senior in right of payment to all of its existing and future debt that is, by its terms, expressly subordinated in right of payment to the 2026 Euro Notes. The 2026 Euro Notes are subordinated to indebtedness under the Senior Secured Credit Facilities, as well as any future secured debt to the extent of the value of the assets securing such debt, and are structurally subordinated to the liabilities of any non-guarantor subsidiaries.

Pursuant to the terms of the indenture governing the 2026 Euro Notes, the Company is obligated to offer to purchase the 2026 Euro Notes at a price of 101% of the principal amount, together with accrued and unpaid interest, if any, up to, but not including, the date of purchase, upon the occurrence of certain change of control events. Prior to May 15, 2021, the Company may redeem the 2026 Euro Notes (i) in whole or in part, at an amount equal to 100% of the aggregate principal amount plus a specified “make-whole” premium, plus accrued and unpaid interest, if any, up to, but excluding, the redemption date and (ii) on one or more occasions, up to 35% of the aggregate principal amount of the notes, with the net cash proceeds of one or more equity offerings at a price equal to 104% of the principal amounts of such notes, plus accrued and unpaid interest, if any, up to, but excluding, the redemption date. On or after May 15, 2021, the Company may redeem the 2026 Euro Notes at specified redemption prices. The Company may also redeem some of all of the 2026 Euro Notes by means other than a redemption, including tender offer and open market repurchases.

2023 Notes Tender Offers and Redemption of the 2023 Euro Notes

On May 21, 2018, the Company commenced two all-cash tender offers to purchase: (i) up to $250 of the outstanding 2023 Dollar Notes, for a purchase price of $1,052.50 per $1,000.00 of principal amount through an early tender deadline of June 4, 2018, and $1,022.50 per $1,000.00 of principal amount thereafter, through June 18, 2018, the tender expiration date, plus any accrued and unpaid interest thereon (the “Dollar Tender Offer”); and, (ii) any and all of the outstanding 2023 Euro Notes, for a purchase price of €1,048.75 per €1,000.00 of principal amount through an early tender deadline of June 4, 2018, and €1,018.75 per €1,000.00 of principal amount thereafter, through June 18, 2018, the tender expiration date, plus any accrued and unpaid interest thereon (the “Euro Tender Offer”) (collectively, the “Tender Offers”).

The Company completed the Dollar Tender Offer on June 6, 2018 for an aggregate purchase price of $264, inclusive of an early participation premium of $13 and accrued interest of $1. The Company completed the Euro Tender Offer on June 8, 2018 for an aggregate purchase price of €310, inclusive of an early participation premium of €14 and accrued interest of €1. In connection with the Euro Tender Offer, the Company received consents from the holders of a majority of the aggregate principal amount of the 2023 Euro Notes to amend certain provisions of the indenture governing the 2023 Euro Notes, thereby allowing the Company to call and redeem the remaining 2023 Euro Notes outstanding upon two business days’ notice to the noteholders. On June 8, 2018, the Company completed the redemption of the remaining outstanding 2023 Euro Notes that were not purchased pursuant to the Euro Tender Offer. The Tender Offers and the redemption of the 2023 Euro Notes were funded with the proceeds from the offering of the 2026 Euro Notes and cash on hand.

Senior Unsecured Notes Due November 2028

On November 27, 2020, the Company issued an $800 aggregate principal amount of 5.750% senior unsecured notes due November 2028 (the “2028 Notes”) in an offering that was exempt from the registration requirements of the Securities Act. The 2028 Notes require payment of principal at maturity and interest semi-annually in cash and in arrears on May 15 and November 15 of each year. The Company received proceeds of $790, net of underwriting fees and other related expenses of $10, which are deferred and amortized to interest expense using the effective interest method over the term of the 2028 Notes. The net proceeds from the 2028 Notes were used, together with cash on hand, to purchase or redeem, as applicable, the remaining $908 aggregate principal amount of the 2023 Dollar Notes. In connection with the purchase and redemption of the remaining 2023 Dollar Notes, the Company incurred a loss on extinguishment of $22 for the year ended December 31, 2020.

The 2028 Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured unsubordinated basis by each of the Company’s existing and future direct and indirect domestic restricted subsidiaries that (i) incurs or guarantees indebtedness under the Senior Secured Credit Facilities, or (ii) guarantees certain other indebtedness of the Company or any guarantor in an aggregate principal amount in excess of $100. The guarantees of the 2028 Notes will rank equally with all other senior indebtedness of the guarantors. The 2028 Notes rank equally in right of payment to all of the Company’s existing and future unsecured unsubordinated debt and are senior in right of payment to all of its existing and future debt that is by its terms expressly subordinated in right of payment to the 2028 Notes. The 2028 Notes are subordinated to indebtedness under the Senior Secured Credit Facilities, as well as any future secured debt to the extent of the value of the assets securing such debt, and structurally subordinated to the liabilities of any non-guarantor subsidiaries.

Pursuant to the terms of the indenture governing the 2028 Notes, the Company is obligated to offer to purchase the 2028 Notes at a price of 101% of the principal amount, together with accrued and unpaid interest, if any, up to, but not including, the date of purchase, upon the occurrence of certain change of control events. Prior to November 15, 2023, the Company may redeem the 2028 Notes (i) in whole or in part, at an amount equal to 100% of the aggregate principal amount plus a specified “make-whole” premium and accrued and unpaid interest, if any, to the date of purchase, and (ii) on one or more occasions, up to 35% of the aggregate principal amount of the notes, with the net cash proceeds of one or more equity offerings at a price equal to 105.750% of the principal amounts of such notes, plus accrued and unpaid interest, if any, up to, but excluding, the redemption date. On or after November 15, 2023, the Company may redeem the 2028 Notes at specified redemption prices. The Company may also redeem some or all of the 2028 Notes by means other than a redemption, including tender offer and open market repurchases.

2023 Dollar Notes Tender Offer and Redemption

On November 12, 2020, the Company commenced an all-cash tender offer to purchase any and all of the outstanding 2023 Dollar Notes for a purchase price of $1,017.94 per $1,000.00 of principal amount through an early tender deadline of November 25, 2020, and $987.94 per $1,000.00 of principal amount thereafter, through December 10, 2020, the tender expiration date, plus any accrued and unpaid interest thereon (the “2023 Dollar Notes Tender Offer”). In connection with the 2023 Dollar Notes Tender Offer, the Company received consents from the holders of a majority of the aggregate principal amount of the 2023 Dollar Notes to amend certain provisions of the indenture governing the 2023 Dollar Notes, thereby allowing the Company to call and redeem the remaining 2023 Dollar Notes outstanding upon two business days’ notice to the noteholders (the “2023 Dollar Notes Redemption”) (collectively, the “2023 Dollar Notes Tender Offer and Redemption”).

The Company completed the 2023 Dollar Notes Tender Offer and Redemption on December 1, 2020 for an aggregate purchase price of $926, inclusive of an early participation premium of $16 and accrued interest of $2. The 2023 Dollar Notes Tender Offer and Redemption was funded with the proceeds from the offering of the 2028 Notes and cash on hand.

Accounts Receivable Securitization Facility

On July 12, 2019, the Company, through a wholly-owned special purpose entity (“SPE”), executed an agreement with a bank for an accounts receivable securitization facility (“Securitization Facility”) for the purpose of enhancing the Company’s liquidity (the “Original Purchase Agreement”). Under the Securitization Facility, certain of the Company’s subsidiaries sell their accounts receivable to the SPE, which is a non-guarantor subsidiary. In turn, the SPE may transfer undivided ownership interests in such receivables to the bank in exchange for cash. The Securitization Facility permitted the SPE to borrow up to a total of $125, with an option to increase to $200. The bank has a first priority security interest in all receivables held by the SPE, and the SPE has not granted a security interest to anyone else. At December 31, 2019, receivables held by the SPE totaled $176.

As the SPE previously maintained effective control over the accounts receivable under the Original Purchase Agreement, the transfers of the ownership interests to the bank did not meet the criteria to account for the transfers as true sales. As a result, the Company accounted for the transfers as collateralized borrowings. Cash received from the bank was a short-term obligation of the Company, which was fully-collateralized by all receivables held by the SPE. The Securitization Facility was subject to interest charges against both the amount of outstanding borrowings and the amount of available but undrawn commitments. The Securitization Facility bore a variable interest rate on outstanding borrowings and a fixed commitment fee on the average daily undrawn amount. During the year ended December 31, 2019, the weighted average interest rate on the outstanding borrowings under the Securitization Facility was 2.0%. Borrowings under the Securitization Facility were classified in the consolidated balance sheets as a component of current liabilities due to the short-term nature of the obligation. Borrowings and repayments under the Securitization Facility amounted to $128 and $18, respectively. Net borrowings of $110 remained outstanding as of December 31, 2019.

On March 9, 2020, the Company, through its wholly-owned SPE, entered into an amended and restated receivables purchase agreement (the “Amended Purchase Agreement”) under the Securitization Facility. The Amended Purchase Agreement amends and restates, in its entirety, the Original Purchase Agreement. The Amended Purchase Agreement, among other things, extends the term of the Original Purchase Agreement such that the SPE may sell certain receivables and request investments and letters of credit until the earlier of March 5, 2021 or a termination event, and contains customary representations and warranties, as well as affirmative and negative covenants.

Pursuant to the Amended Purchase Agreement, the Company no longer maintains effective control over the transferred receivables, and therefore accounts for these transfers as sales of receivables. As a result, on March 9, 2020, the Company repurchased the then-outstanding receivables under the Securitization Facility through repayment of the secured borrowings under the Original Purchase Agreement, resulting in net repayments of $110 and subsequent sale of $125 of its receivables to the bank during the first quarter of 2020. These sales were transacted at 100% of the face value of the relevant receivables, resulting in derecognition of the receivables from the Company’s consolidated balance sheets. Cash received from collections of sold receivables is used to fund additional purchases of receivables at 100% of face value on a revolving basis, not to exceed $125, which is the aggregate purchase limit. For the year ended December 31, 2020, the Company received $932 of cash collections on receivables sold under the Amended Purchase Agreement, following which it sold and derecognized $932 of incremental accounts receivable. The Company maintains continuing involvement as it acts as the servicer for the sold receivables and guarantees payment to the bank. As collateral against the sold receivables, the SPE maintains a certain level of unsold receivables, which amounted to $33 at December 31, 2020. During the year ended December 31, 2020, the Company incurred $2 of fees associated with the Securitization Facility. Costs associated with the sales of receivables are reflected in the Company’s consolidated statements of operations for the periods in which the sales occur.

Other

During the third quarter of 2020, the Company entered into a financing arrangement, by which an external financing company funded certain of the Company’s annual insurance premiums for $16. The Company repaid all of the outstanding borrowings under its 2020 financing arrangement during the year ended December 31, 2020. During the third quarter of 2019, the Company entered into a similar financing arrangement for $11, of which $6 remained outstanding at December 31, 2019. The Company has repaid all remaining borrowings under its 2019 financing arrangement.

Maturities

The Company has required quarterly principal payments related to the Senior Secured Credit Facilities equivalent to 1.00% per annum through December 2024, with the balance due at maturity. Also, following the end of each fiscal year commencing on the year ended December 31, 2019, on an annual basis, the Company is required to make additional principal payments depending on leverage levels, as defined in the Credit Agreement, equivalent to up to 50% of excess cash flows based on certain leverage targets with step-downs to 25% and 0% as actual leverage decreases to below a 3.50 to 1.00 leverage target. The Company was not required to make additional principal payments in 2020.

The following table sets forth the Company’s debt principal maturities for the next five years and thereafter.

2021	$	13
2022		13
2023		13
2024		13
2025		1,990
Thereafter		1,851
Total principal maturities on debt	$	3,893

Debt Fair Value

	December 31, 2020					December 31, 2019
	Carrying Value			Fair Value		Carrying Value			Fair Value
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	875		$	862	$	884		$	865
Tranche B-2 euro term loan due April 2025 (€340 at December 31, 2020 and €344 at December 31, 2019)		417			413		383			378
Senior unsecured notes:
6.625% due May 2023		—			—		908			917
7.000% due May 2025		750			774		750			755
4.000% due May 2026 (€450 at December 31, 2020 and 2019)		551			551		501			455
5.375% due May 2027		500			536		500			450
5.750% due November 2028		800			821		—			—
Securitization Facility		—			—		110			110
Total senior debt principal		3,893		$	3,957		4,036		$	3,930
Less: Unamortized issue discounts		(7	)				(8	)
Less: Unamortized debt issuance costs		(28	)				(28	)
Total senior debt, net	$	3,858				$	4,000

Background and Description of the Business

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Background and Description of the Business

Note 1. Background and Description of the Business

The Chemours Company (“Chemours”, or the “Company”) is a leading, global provider of performance chemicals that are key inputs in end-products and processes in a variety of industries. The Company delivers customized solutions with a wide range of industrial and specialty chemical products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, mining, and oil and gas. The Company’s principal products include titanium dioxide (“TiO₂”) pigment, refrigerants, industrial fluoropolymer resins, sodium cyanide, and performance chemicals and intermediates. Chemours manages and reports its operating results through four reportable segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment is a leading, global provider of TiO₂ pigment, a premium white pigment used to deliver whiteness, brightness, opacity, and protections in a variety of applications. The Thermal & Specialized Solutions segment is a leading, global provider of refrigerants, propellants, blowing agents, and specialty solvents. The Advanced Performance Materials segment is a leading, global provider of high-end polymers and advanced materials. The Chemical Solutions segment is a leading, North American provider of industrial chemicals used in gold production, industrial, and consumer applications.

Chemours has manufacturing facilities, sales centers, administrative offices, and warehouses located throughout the world. Chemours’ operations are primarily located in the U.S., Canada, Mexico, Brazil, the Netherlands, Belgium, China, Taiwan, Japan, Switzerland, Singapore, Hong Kong, India, and France. At December 31, 2020, the Company operated 30 major production facilities globally, of which eight were dedicated to Titanium Technologies, eight were dedicated to Thermal & Specialized Solutions, 10 were dedicated to Advanced Performance Materials, one was dedicated to Chemical Solutions, and three supported multiple segments.

Chemours began operating as an independent company on July 1, 2015 (the “Separation Date”) after separating from E.I. DuPont de Nemours and Company (“EID”) (the “Separation”). The Separation was completed pursuant to a separation agreement and other agreements with EID, including an employee matters agreement, a tax matters agreement, a transition services agreement, and an intellectual property cross-license agreement. These agreements govern the relationship between Chemours and EID following the Separation and provided for the allocation of various assets, liabilities, rights, and obligations at the Separation Date. On August 31, 2017, EID completed a merger with The Dow Chemical Company (“Dow”). Following their merger, EID and Dow engaged in a series of reorganization steps and, in 2019, separated into three publicly-traded companies named Dow Inc., DuPont de Nemours, Inc. (“DuPont”), and Corteva, Inc. (“Corteva”).

Unless the context otherwise requires, references herein to “The Chemours Company”, “Chemours”, “the Company”, “our Company”, “we”, “us”, and “our” refer to The Chemours Company and its consolidated subsidiaries. References herein to “EID” refer to E. I. du Pont de Nemours and Company, which is our former parent company and is now a subsidiary of Corteva.

Goodwill and Other Intangible Assets, Net - Schedule of Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill	$ 153	$ 153
Operating Segments [Member]
Goodwill [Roll Forward]
Total goodwill, net	153	153
Titanium Technologies [Member] \| Operating Segments [Member]
Goodwill [Roll Forward]
Goodwill	13	13	$ 13
Thermal & Specialized Solutions [Member] \| Operating Segments [Member]
Goodwill [Roll Forward]
Goodwill	33	33	33
Advanced Performance Materials [Member] \| Operating Segments [Member]
Goodwill [Roll Forward]
Goodwill	56	56	56
Chemical Solutions [Member] \| Operating Segments [Member]
Goodwill [Roll Forward]
Goodwill	$ 51	$ 51	$ 51

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 3. Summary of Significant Accounting Policies

Preparation of Financial Statements

The consolidated financial statements have been prepared in conformity with GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Management’s estimates are based on historical experiences, facts, and circumstances available at the time and various other assumptions that management believes are reasonable. Actual results could differ from those estimates.

Principles of Consolidation

The consolidated financial statements include the accounts of Chemours and its subsidiaries, as well as entities in which a controlling interest is maintained. For those consolidated subsidiaries in which the Company’s ownership is less than 100%, the outside shareholders’ interests are shown as non-controlling interests. Investments in companies in which Chemours, directly or indirectly, owns 20% to 50% of the voting stock, or has the ability to exercise significant influence over the operating and financial policies of the investee, are accounted for using the equity method of accounting. As a result, Chemours’ share of the earnings or losses of such equity affiliates is included in the consolidated statements of operations, and Chemours’ share of such equity affiliates’ equity is included in the consolidated balance sheets.

The Company assesses the requirements related to the consolidation of any variable interest entity (“VIE”), including a qualitative assessment of power and economics that considers which entity has the power to direct the activities that most significantly impact the VIE’s economic performance, and has the right to receive any benefits or the obligation to absorb any losses of the VIE. No such VIE was consolidated by the Company for the periods presented.

All intercompany accounts and transactions were eliminated in the preparation of the accompanying consolidated financial statements.

Revenue Recognition

Chemours recognizes revenue using a five-step model, resulting in revenue being recognized as performance obligations within a contract have been satisfied. The steps within that model include: (i) identifying the existence of a contract with a customer; (ii) identifying the performance obligations within the contract; (iii) determining the contract’s transaction price; (iv) allocating the transaction price to the contract’s performance obligations; and, (v) recognizing revenue as the contract’s performance obligations are satisfied. A contract with a customer exists when: (i) the Company enters into an enforceable agreement that defines each party’s rights regarding the goods or services to be transferred, and the related payment terms; (ii) the agreement has commercial substance; and, (iii) it is probable that the Company will collect the consideration to which it is entitled in the exchange. A performance obligation is a promise in a contract to transfer a distinct good or service, or a series of distinct goods or services, to a customer. The transaction price is the customary amount of consideration that the Company expects to be entitled to in exchange for a transfer of the promised goods or services to a customer, excluding any amounts collected by the Company on behalf of third parties (e.g., sales and use taxes). Judgment is required to apply the principles-based, five-step model for revenue recognition. Management is required to make certain estimates and assumptions about the Company’s contracts with its customers, including, among others, the nature and extent of its performance obligations, its transaction price amounts and any allocations thereof, the critical events which constitute satisfaction of its performance obligations, and when control of any promised goods or services is transferred to its customers.

The Company’s revenue from contracts with customers is reflected in the consolidated statements of operations as net sales, the vast majority of which represents product sales that consist of a single performance obligation. Product sales to customers are made under a purchase order (“PO”), or in certain cases, in accordance with the terms of a master services agreement (“MSA”) or similar arrangement, which documents the rights and obligations of each party to the contract. When a customer submits a PO for product or requests product under an MSA, a contract for a specific quantity of distinct goods at a specified price is created, and the Company’s performance obligation under the contract is satisfied when control of the product is transferred to the customer, which is indicated by shipment of the product and the transfer of title and the risk of loss to the customer. Revenue is recognized on consignment sales when control transfers to the customer, generally at the point of customer usage of the product. The transaction price for product sales is generally the amount specified in the PO or in the request under an MSA; however, as is common in Chemours’ industry, the Company offers variable consideration in the form of rebates, volume discounts, early payment discounts, pricing based on formulas or indices, price matching, and guarantees to certain customers. Such amounts are included in the Company’s estimated transaction price using either the expected value method or the most-likely amount, depending on the nature of the variable consideration included in the contract. The Company regularly assesses its customers’ creditworthiness, and product sales are made based on established credit limits. Payment terms for the Company’s invoices are typically less than 90 days.

The Company also licenses the right to access certain of its trademarks to customers under specified terms and conditions in certain arrangements, which is recognized as a component of net sales in the consolidated statements of operations. Under such arrangements, the Company may receive a royalty payment for a trademark license that is entered into on a stand-alone basis or incorporated into an overall product sales arrangement. Royalty income is generally based on customer sales and recognized under the sales-based exception as the customer sale occurs. When minimum guaranteed royalty amounts are included in the transaction price, the Company recognizes royalty income ratably over the license period for the minimum amount. When there is no consideration specified for the use of the Company’s trademark, the entire transaction price is recognized in connection with the transfer of control of product. Royalty income resulting from the right to use the Company’s technology is considered outside the scope of revenue recognition under GAAP as it is not a part of the Company’s ongoing major or central activities, and is recognized as a component of other income (expense), net in the consolidated statements of operations in accordance with agreed-upon terms at the point or points in time that performance obligations are satisfied.

Consistent with the fact that the vast majority of the Company’s payment terms are less than 90 days from the point at which control of the promised goods or services is transferred, no adjustments have been made for the effects of a significant financing component. Additionally, the Company has elected to recognize the incremental costs associated with obtaining contracts as an expense when incurred if the amortization period of the assets that the Company would have recognized is one year or less. Amounts billed to customers for shipping and handling fees are considered a fulfillment cost and are included in net sales, and the costs incurred by the Company for the delivery of goods are classified as a component of the cost of goods sold in the consolidated statements of operations.

Research and Development Expense

Research and development (“R&D”) costs are expensed as incurred. R&D expenses include costs (primarily consisting of employee costs, materials, contract services, research agreements, and other external spend) relating to the discovery and development of new products, enhancement of existing products, and regulatory approval of new and existing products.

Provision for (Benefit from) Income Taxes

The provision for (benefit from) income taxes is determined using the asset and liability approach of accounting for income taxes. Under this approach, deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. The provision for (benefit from) income taxes represents income taxes paid or payable for the current year, plus the change in deferred taxes during the year. Deferred taxes result from differences between the financial and tax bases of Chemours’ assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. The Company’s deferred tax assets and liabilities are presented on a net basis by jurisdictional filing group. Net deferred tax assets are presented as a component of other assets, while net deferred tax liabilities are presented as a component of deferred income taxes on the Company’s consolidated balance sheets. Valuation allowances are recorded to reduce deferred tax assets when it is more-likely-than-not that a tax benefit will not be realized.

Chemours recognizes income tax positions that meet the more-likely-than-not threshold and accrues any interest related to unrecognized income tax positions in the provision for (benefit from) income taxes in the consolidated statements of operations. The Company also recognizes income tax-related penalties in the provision for (benefit from) income taxes.

Earnings Per Share

Chemours presents both basic earnings per share and diluted earnings per share. Basic earnings per share excludes dilution and is computed by dividing the total net income (loss) attributable to Chemours by the weighted-average number of shares outstanding for the period. Diluted earnings per share reflects the dilution that could occur if the Company’s outstanding stock-based compensation awards, including any unvested restricted shares, were vested and exercised, thereby resulting in the issuance of common stock as determined under the treasury stock method. In periods where the Company incurs a net loss, stock-based compensation awards are excluded from the calculation of earnings per share as their inclusion would have an anti-dilutive effect.

Cash and Cash Equivalents

Cash and cash equivalents generally include cash, time deposits, or highly liquid investments with maturities of three months or less at the time of acquisition.

Accounts and Notes Receivable and Allowance for Doubtful Accounts

Accounts and notes receivables are recognized net of an allowance for doubtful accounts. The allowance for doubtful accounts reflects the best estimate of losses inherent in Chemours’ accounts and notes receivable portfolio, which is determined by assessing expected credit losses on the basis of historical experience, specific allowances for known troubled accounts, and other available evidence. Accounts and notes receivable are written off when management determines that they are uncollectible.

Inventories

Chemours’ U.S. inventories are valued at the lower of cost or market, as inventories held at substantially all U.S. locations are valued using the last-in, first-out (“LIFO”) method. Chemours’ non-U.S. inventories are valued at the lower of cost or net realizable value, as inventories held outside the U.S. are valued using the average cost method. The elements of cost in inventories include raw materials, direct labor, and manufacturing overhead. Stores and supplies are valued at the lower of cost or net realizable value. Cost is generally determined by the average cost method.

Property, Plant, and Equipment

Property, plant, and equipment is carried at cost and is depreciated using the straight-line method. Substantially all equipment and buildings are depreciated over useful lives ranging from 15 to 25 years. Capitalizable costs associated with computer software for internal use are amortized on a straight-line basis over five to seven years. When assets are surrendered, retired, sold, or otherwise disposed of, their gross carrying values and related accumulated depreciation are removed from the consolidated balance sheets and are included in the determination of any gain or loss on such disposals.

Repair and maintenance costs that materially add to the value of the asset or prolong its useful life are capitalized and depreciated based on their extension to the asset’s useful life. Capitalized repair and maintenance costs are recorded on the consolidated balance sheets as a component of other assets.

Impairment of Long-lived Assets

Chemours evaluates the carrying value of its long-lived assets to be held and used when events or changes in circumstances indicate the carrying value may not be recoverable. For the purposes of recognition or measurement of an impairment charge, the assessment is performed on the asset or asset group at the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. To determine the level at which the assessment is performed, Chemours considers factors such as revenue dependency, shared costs, and the extent of vertical integration. The carrying value of a long-lived asset is considered impaired when the total projected undiscounted cash flows from the use and eventual disposition of the asset or asset group are separately identifiable and are less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. The fair value methodology used is an estimate of fair market value, which is made based on prices of similar assets or other valuation methodologies, including present value techniques. Long-lived assets to be disposed of by means other than sale are classified as held for use until their disposal. Long-lived assets to be disposed of by sale are classified as held for sale and are reported at the lower of carrying amount or fair market value, less the estimated cost to sell. Depreciation is discontinued for any long-lived assets classified as held for sale.

Leases

The Company’s lease assets and lease liabilities are recognized on the lease commencement date in an amount that represents the present value of future lease payments. Operating leases are included in operating lease right-of-use assets, other accrued liabilities, and operating lease liabilities on the Company’s consolidated balance sheets. Finance leases are included in property, plant, and equipment, net, short-term and current maturities of long-term debt, and long-term debt, net, on the Company’s consolidated balance sheets. The Company’s incremental borrowing rate, which is based on information available at the adoption date of January 1, 2019 for existing leases and the commencement date for leases commencing after the adoption date, is used to determine the present value of lease payments. The Company combines lease components with non-lease components for all classes of assets, except for certain manufacturing facilities.

The Company does not recognize leases with an initial term of 12 months or less on its consolidated balance sheets and will recognize those lease payments in the consolidated statements of operations on a straight-line basis over the lease term. Certain leases contain variable payments which are based on usage or operating costs, such as utilities and maintenance. These payments are not included in the measurement of the right-of-use asset or lease liability due to the uncertainty of the payment amount and are recorded as lease expense in the period incurred. Leases with the options to extend their term or terminate early are reflected in the lease term when it is reasonably certain that the Company will exercise such options.

Goodwill and Other Intangible Assets

The excess of the purchase price over the estimated fair value of the net assets acquired in a business combination, including any identified intangible assets, is recorded as goodwill. Chemours tests its goodwill for impairment at least annually on October 1; however, these tests are performed more frequently when events or changes in circumstances indicate that the asset may be impaired. Goodwill is evaluated for impairment at the reporting unit level, which is defined as an operating segment, or one level below an operating segment. A reporting unit is the level at which discrete financial information is available and reviewed by business management on a regular basis. An impairment exists when the carrying value of a reporting unit exceeds its fair value. The amount of impairment loss recognized in the consolidated statements of operations is equal to the excess of a reporting unit’s carrying value over its fair value, which is limited to the total amount of goodwill allocated to the reporting unit.

Chemours has the option to first qualitatively assess whether it is more-likely-than-not that an impairment exists for a reporting unit. Such qualitative factors include, among other things, prevailing macroeconomic conditions, industry and market conditions, changes in costs associated with raw materials, labor, or other inputs, the Company’s overall financial performance, and certain other entity-specific events that impact Chemours’ reporting units. When performing a quantitative test, the Company weights the results of an income-based valuation technique, the discounted cash flows method, and a market-based valuation technique, the guideline public companies method, to determine its reporting units’ fair values.

Definite-lived intangible assets, such as purchased and licensed technology, patents, trademarks, and customer lists, are amortized over their estimated useful lives, generally for periods ranging from five to 20 years. The reasonableness of the useful lives of these assets is periodically evaluated.

Asset Retirement Obligations

Chemours records its asset retirement obligations at their fair value at the time the liability is incurred. Fair value is measured using the expected future cash outflows discounted at Chemours’ credit-adjusted, risk-free interest rate, which is considered to be a Level 3 input within the fair value hierarchy. Accretion expense is recognized as an operating expense within the cost of goods sold in the consolidated statements of operations, using the credit-adjusted, risk-free interest rate in effect when the liability was recognized. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset and are depreciated over the estimated remaining useful life of the asset, generally for periods ranging from two to 25 years.

Insurance

Chemours insures for certain risks where permitted by law or regulation, including workers’ compensation, vehicle liability, and employee-related benefits. Liabilities associated with these risks are estimated in part by considering any historical claims experience, demographic factors, and other actuarial assumptions. For certain other risks, the Company uses a combination of third-party insurance and self-insurance, reflecting its comprehensive review of relevant risks. A receivable for an insurance recovery is generally recognized when the loss has occurred and collection is considered probable.

Litigation

Chemours accrues for litigation matters when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Where the available information is only sufficient to establish a range of probable liability, and no point within the range is more likely than any other, the lower end of the range has been used. When a material loss contingency is reasonably possible, but not probable, we do not record a liability, but instead disclose the nature of the matter and an estimate of the loss or range of loss, to the extent such estimate can be made. Litigation-related liabilities and expenditures included in the consolidated financial statements include legal matters that are liabilities of EID and its subsidiaries, which Chemours may be required to indemnify pursuant to the Separation-related agreements executed prior to the Separation. Legal costs, such as outside counsel fees and expenses, are charged to expense in the period that services are rendered.

Environmental Liabilities and Expenditures

Chemours accrues for environmental remediation matters when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Where the available information is only sufficient to establish a range of probable liability, and no point within the range is more likely than any other, the lower end of the range has been used.

Estimated liabilities are determined based on existing remediation laws and technologies and the Company’s planned remedial responses, which are derived from environmental studies, sampling, testing, and analyses. Inherent uncertainties exist in such evaluations, primarily due to unknown environmental conditions, changing governmental regulations regarding liability, and emerging remediation technologies. These liabilities, which are undiscounted, are adjusted periodically as remediation efforts progress and as additional technological, regulatory, and legal information becomes available.

Environmental liabilities and expenditures include claims for matters that are liabilities of EID and its subsidiaries, which Chemours may be required to indemnify pursuant to the Separation-related agreements executed prior to the Separation. These accrued liabilities are undiscounted and do not include claims against third parties, and are included in other accrued liabilities and other liabilities on the consolidated balance sheets.

Costs related to environmental remediation are charged to expense in the period that the associated liability is accrued and are reflected as a component of the cost of goods sold for on-site remediation costs or as a component of selling, general, and administrative expense for off-site remediation costs in the consolidated statements of operations. Other environmental costs are also charged to expense in the period incurred, unless they extend the useful life of the property, increase the property’s capacity, and/or reduce or prevent contamination from future operations, in which case they are capitalized and amortized. Pursuant to the binding Memorandum of Understanding (“MOU”) entered into between Chemours, DuPont, Corteva, and EID, as further discussed in “Note 22 – Commitments and Contingent Liabilities”, costs specific to potential future legacy PFAS liabilities are subject to a cost-sharing arrangement between the parties. Any recoveries of Qualified Spend (as further described in “Note 22 – Commitments and Contingent Liabilities” and as defined in the MOU) from DuPont and/or Corteva under the cost-sharing arrangement will be recognized as an offset to the Company’s cost of goods sold or selling, general, and administrative expense, as applicable, when realizable. Any Qualified Spend incurred by DuPont and/or Corteva under the cost-sharing arrangement will be recognized in the Company’s cost of goods sold or selling, general, and administrative expense, as applicable, when the amounts of such costs are probable and estimable.

Treasury Stock

Chemours accounts for repurchases of the Company’s common stock as treasury stock using the cost method, whereby the entire cost of the acquired common stock is recorded as treasury stock.

Stock-based Compensation

Chemours’ stock-based compensation consists of stock options, restricted stock units (“RSUs”), and performance share units (“PSUs”) awarded to employees and non-employee directors. Stock options and PSUs are measured at their fair value on the grant date or date of modification, as applicable. RSUs are measured at the stock price on the grant date or date of modification, as applicable. The Company recognizes compensation expense on a straight-line basis over the requisite service and/or performance period, as applicable. Forfeitures of awards are accounted as a reduction in stock-based compensation expense in the period such awards are forfeited.

Financial Instruments

In the ordinary course of business, Chemours enters into contractual arrangements to reduce its exposure to foreign currency and interest rate risks. The Company has established a financial risk management program, which currently includes four distinct risk management instruments: (i) foreign currency forward contracts, which are used to minimize the volatility in the Company’s earnings related to foreign exchange gains and losses resulting from remeasuring its monetary assets and liabilities that are denominated in non-functional currencies; (ii) foreign currency forward contracts, which are used to mitigate the risks associated with fluctuations in the euro against the U.S. dollar for forecasted U.S. dollar-denominated inventory purchases in certain of the Company’s international subsidiaries that use the euro as their functional currency; (iii) interest rate swaps, which are used to mitigate the volatility in the Company’s cash payments for interest due to fluctuations in LIBOR, as is applicable to the portion of the Company’s senior secured term loan facility denominated in U.S. dollars; and, (iv) euro-denominated debt, which is used to reduce the volatility in stockholders’ equity caused by changes in foreign currency exchange rates of the euro with respect to the U.S. dollar for certain of its international subsidiaries that use the euro as their functional currency. The Company’s financial risk management program reflects varying levels of exposure coverage and time horizons based on an assessment of risk. The program operates within Chemours’ financial risk management policies and guidelines, and the Company does not enter into derivative financial instruments for trading or speculative purposes.

The Company’s foreign currency forward contracts that are used as a net monetary assets and liabilities hedge are not part of a cash flow hedge program or a fair value hedge program, and have not been designated as a hedge. For these instruments, all gains and losses resulting from the revaluation of derivative assets and liabilities are recognized in other income (expense), net in the consolidated statements of operations during the period in which they occur, and any such gains or losses are intended to be offset by any gains or losses on the underlying asset or liability. For the Company’s foreign currency forward contracts that have been designated under a cash flow hedge program, all gains and losses resulting from the revaluation of the derivative instruments are recognized as a component of accumulated other comprehensive loss on the consolidated balance sheets during the period in which they occur, and are reclassified to the cost of goods sold in the consolidated statements of operations during the period in which the underlying transactions affect earnings, or when it becomes probable that the forecasted transactions will not occur. For the Company’s interest rate swaps that have been designated under a cash flow hedge program, all gains and losses resulting from the revaluation of the derivative instruments are recognized as a component of accumulated other comprehensive loss on the consolidated balance sheets during the period in which they occur, and are reclassified to interest expense, net in the consolidated statements of operations during the period in which the underlying transaction affects earnings. For the Company’s euro-denominated debt instruments, which are designated as a net investment hedge, changes due to remeasurement are included in accumulated other comprehensive loss on the consolidated balance sheets. Chemours’ uses the spot method to evaluate the effectiveness of its net investment hedge.

Financial instruments are reported on a gross basis on the consolidated balance sheets.

Foreign Currency Translation

Chemours identifies its separate and distinct foreign entities and groups them into two categories: (i) extensions of the parent (U.S. dollar functional currency); and, (ii) self-contained (local functional currency). If a foreign entity does not align with either category, factors are evaluated, and a judgment is made to determine the functional currency. Chemours changes the functional currency of its separate and distinct foreign entities only when significant changes in economic facts and circumstances clearly indicate that the functional currency has changed.

During the periods covered by the consolidated financial statements, part of Chemours’ business operated within foreign entities. For foreign entities where the U.S. dollar is the functional currency, all foreign currency-denominated asset and liability amounts are remeasured into U.S. dollars at end-of-period exchange rates, with the exception of inventories, prepaid expenses, property, plant, and equipment, goodwill, and other intangible assets. These aforementioned assets are remeasured at historical exchange rates. Foreign currency-denominated revenue and expense amounts are measured at exchange rates in effect during the period, with the exception of expenses related to any balance sheet amounts remeasured at historical exchange rates. Exchange gains and losses arising from remeasurement of foreign currency-denominated monetary assets and liabilities are included in other income (expense), net in the consolidated statements of operations in the period in which they occurred.

For foreign entities where the local currency is the functional currency, assets and liabilities denominated in local currencies are translated into U.S. dollars at end-of-period exchange rates, and the resulting translation adjustments are reported as a component of accumulated other comprehensive loss on the consolidated balance sheets. Assets and liabilities denominated in currencies other than the functional currency are remeasured into the functional currency prior to translation into U.S. dollars, and the resulting exchange gains or losses are included in other income (expense), net in the consolidated statements of operations in the period in which they occurred. Revenues and expenses are translated into U.S. dollars at average exchange rates in effect during the period.

Defined Benefit Plans

Due to local regulations outside of the U.S., Chemours has defined benefit plans covering certain of its employees. The benefits of these plans, which primarily relate to pension, are accrued over the employees’ service periods. The Company uses actuarial methods and assumptions in the valuation of its defined benefit obligations and the determination of any net periodic pension income or expense. Any differences between actual and expected results, or changes in the value of defined benefit obligations and plan assets, if any, are not recognized in earnings as they occur. Rather, they are systematically recognized over subsequent periods.

Fair Value Measurement

Fair value is defined as the exit price, the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Under the accounting for fair value measurements and disclosures, a fair value hierarchy was established to prioritize the valuation inputs used to measure fair value. The hierarchy gives highest priority to unadjusted, quoted prices in active markets for identical assets and liabilities (i.e., Level 1 measurements) and lowest priority to unobservable inputs (i.e., Level 3 measurements). A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

Chemours applies the following valuation hierarchy in measuring the fair values of its assets and liabilities:

•

Level 1 – Quoted prices in active markets for identical assets and liabilities;

•

Level 2 – Significant other observable inputs (e.g., quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable, such as interest rate and yield curves, and market-corroborated inputs); and,

•

Level 3 – Unobservable inputs for the asset or liability, which are valued based on management’s estimates of assumptions that market participants would use in pricing the asset or liability.

Recent Accounting Pronouncements

Accounting Guidance Issued and Not Yet Adopted

Simplifying the Accounting for Income Taxes

In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, as well as improve consistency of application by clarifying and amending existing guidance. For public entities, the amendments are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years, and early adoption is permitted. The Company does not expect the impacts of adopting this guidance to be material to its financial position, results of operations, and cash flows.

Facilitation of the Effects of Reference Rate Reform on Financial Reporting

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU No. 2020-04”). The amendments in this update provide optional guidance for a limited period of time to ease the potential burden associated with accounting for contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued due to reference rate reform. ASU No. 2020-04 is effective March 12, 2020 through December 31, 2022. The Company is currently evaluating the impacts this standard will have on its accounting for contracts and hedging relationships.

Recently Adopted Accounting Guidance

Measurement of Credit Losses on Financial Instruments

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU No. 2016-13”). The amendments in this update affect loans, debt securities, trade receivables, and any other financial assets that have the contractual right to receive cash, which, for the Company, primarily consists of accounts and notes receivable, net. ASU No. 2016-13 requires an entity to recognize expected credit losses rather than incurred losses for financial assets. The Company adopted ASU No. 2016-13 on January 1, 2020 using the modified retrospective transition method, the effect of which was not material to its financial position, results of operations, and cash flows.

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Schedule of Components of Accumulated Other Comprehensive Loss

The following table sets forth the components of accumulated other comprehensive loss, net of income taxes, for the years ended December 31, 2020, 2019, and 2018.

	Net Investment Hedge			Cash Flow Hedge			Cumulative Translation Adjustment			Defined Benefit Plans			Total
Balance at January 1, 2018	$	(40	)	$	—		$	(158	)	$	(244	)	$	(442	)
Other comprehensive income (loss)		15			6			(75	)		(68	)		(122	)
Balance at December 31, 2018		(25	)		6			(233	)		(312	)		(564	)
Other comprehensive income (loss)		15			(4	)		2			202			215
Balance at December 31, 2019		(10	)		2			(231	)		(110	)		(349	)
Other comprehensive (loss) income		(66	)		(10	)		111			4			39
Balance at December 31, 2020	$	(76	)	$	(8	)	$	(120	)	$	(106	)	$	(310	)

Geographic and Segment Information - Summary of Reconciliation for Summary Financial Information for Reportable Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 320	$ 311	$ 284
Total assets	7,082	7,258	7,362
Purchases of property, plant, and equipment	267	481	498
Segment Total [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	290	279	256
Total assets	5,222	5,447	5,721
Purchases of property, plant, and equipment	251	362	440
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	30	32	28
Total assets	1,860	1,811	1,641
Purchases of property, plant, and equipment	$ 16	$ 119	$ 58

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

Accounts and Notes Receivable, Net - Schedule of Accounts and Notes Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Accounts receivable - trade, net	$ 449	$ 602
VAT, GST and other taxes	49	59
Other receivables	13	13
Total accounts and notes receivable, net	$ 511	$ 674

Accounts and Notes Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The following table sets forth the components of the Company’s accounts and notes receivable, net at December 31, 2020 and 2019.

	December 31,
	2020		2019
Accounts receivable - trade, net (1,2)	$	449	$	602
VAT, GST, and other taxes (3)		49		59
Other receivables (4)		13		13
Total accounts and notes receivable, net	$	511	$	674

(1)

(2)

(3)

Value added tax (“VAT”) and goods and services tax (“GST”) for various jurisdictions.

(4)

Other receivables consist of derivative instruments, advances, and other deposits.

Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Noncurrent [Abstract]
Employee-related costs	$ 108	$ 113
Accrued litigation	51	50
Environmental remediation	295	332
Asset retirement obligations	63	69
Deferred revenue	5	8
Miscellaneous	68	61
Total other liabilities	$ 590	$ 633

Other Liabilities

12 Months Ended

Dec. 31, 2020

Other Liabilities Disclosure [Abstract]

Other Liabilities

Note 21. Other Liabilities

The following table sets forth the components of the Company’s other liabilities at December 31, 2020 and 2019.

	December 31,
	2020		2019
Employee-related costs (1)	$	108	$	113
Accrued litigation (2)		51		50
Environmental remediation (2)		295		332
Asset retirement obligations (2)		63		69
Deferred revenue		5		8
Miscellaneous (3)		68		61
Total other liabilities	$	590	$	633

(1)

Employee-related costs primarily represents liabilities associated with the Company’s long-term employee benefit plans.

(2)

(3)

Miscellaneous primarily includes an accrued indemnification liability of $37 and $41 at December 31, 2020 and 2019, respectively.

Leases - Build-to-suit Lease Obligation - Narrative (Details) - Discovery Hub [Member] $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Oct. 31, 2017 ft²
Lessee Lease Description [Line Items]
Build to suit lease area of land \| ft²			312,000
Build to suit lease liability reclassified as financing obligation	$ 94	$ 95
Build to suit lease asset capitalized in property, plant and equipment	$ 92	$ 95

Stock-based Compensation - Performance Share Units Activity (Details) - Performance Share Units [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested, beginning balance, shares	529	1,107	987
Granted, shares	542	240	139
Vested, shares	(176)	(761)	(19)
Forfeited, shares	(51)	(57)
Non-vested, ending balance, shares	844	529	1,107
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Non-vested, weighted average grant date fair value, beginning balance (in dollars per share)	$ 39.53	$ 17.71	$ 12.94
Granted, weighted average grant date fair value (in dollars per share)	17.14	44.38	52.34
Vested, weighted average grant date fair value (in dollars per share)	35.84	5.07	24.16
Forfeited, weighted average grant date fair value (in dollars per share)	27.79	43.35
Non-vested, weighted average grant date fair value, ending balance (in dollars per share)	$ 29.05	$ 39.53	$ 17.71

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Accrued Environmental Remediation Liabilities and Balance Sheet Locations (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Environmental Remediation [Line Items]
Current accrued liabilities	$ 95	$ 74
Long-term accrued liabilities	295	332
Total environmental remediation	390	406
Other Accrued Liabilities [Member]
Environmental Remediation [Line Items]
Current accrued liabilities	95	74
Other Liabilities [Member]
Environmental Remediation [Line Items]
Long-term accrued liabilities	295	332
Fayetteville Works, Fayetteville, North Carolina [Member]
Environmental Remediation [Line Items]
Total environmental remediation	194	201
Fayetteville Works, Fayetteville, North Carolina [Member] \| Other Accrued Liabilities [Member]
Environmental Remediation [Line Items]
Current accrued liabilities	39	20
Fayetteville Works, Fayetteville, North Carolina [Member] \| Other Liabilities [Member]
Environmental Remediation [Line Items]
Long-term accrued liabilities	$ 155	$ 181

Commitments and Contingent Liabilities - Litigation - Narrative (Details)		1 Months Ended					3 Months Ended	12 Months Ended		17 Months Ended
	May 23, 2017 USD ($)	Jan. 31, 2021 USD ($) plaintiff	Dec. 31, 2020 USD ($) lawsuit WaterSystem	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($) lawsuit	Mar. 31, 2017 USD ($) lawsuit	Dec. 31, 2020 USD ($) lawsuit	Dec. 31, 2020 USD ($) lawsuit water_district	Dec. 31, 2004 resident	Dec. 31, 2020 USD ($) lawsuit Supplier	Sep. 30, 2020 lawsuit	Dec. 31, 2019 USD ($) lawsuit
Loss Contingencies [Line Items]
Accrual balance			$ 88,000,000				$ 88,000,000	$ 88,000,000		$ 88,000,000		$ 60,000,000
Number of long island water suppliers filed lawsuits \| Supplier										11
Chemical Solutions [Member] \| Mining Solutions [Member]
Loss Contingencies [Line Items]
Long-lived assets			146,000,000				146,000,000	146,000,000		$ 146,000,000
Chemical Solutions [Member] \| Contract Termination Fees [Member] \| Mining Solutions [Member]
Loss Contingencies [Line Items]
Other charges							26,000,000
Chemical Solutions [Member] \| Other Related Prepaid Costs [Member] \| Mining Solutions [Member]
Loss Contingencies [Line Items]
Other charges							11,000,000
Maximum [Member]
Loss Contingencies [Line Items]
Loss contingency, potential additional loss			580,000,000				580,000,000	580,000,000		580,000,000
Funding for medical monitoring program [Member]
Loss Contingencies [Line Items]
Escrow deposit disbursements								$ 1,700,000
First MDL Settlement [Member]
Loss Contingencies [Line Items]
Date of agreement month and year								2017-03
Total settlement amount						$ 670,700,000
Settlement payments	$ 335,000,000
P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Accrual balance			$ 29,000,000				$ 29,000,000	$ 29,000,000		$ 29,000,000
Asbestos Issue [Member]
Loss Contingencies [Line Items]
Lawsuits alleging personal injury - Filed \| lawsuit			1,100				1,100	1,100		1,100		1,100
Accrual balance			$ 34,000,000				$ 34,000,000	$ 34,000,000		$ 34,000,000		$ 34,000,000
Benzene Related Illness [Member]
Loss Contingencies [Line Items]
Lawsuits alleging illness \| lawsuit			17				17	17		17		16
PFOA Matters [Member]
Loss Contingencies [Line Items]
Accrual balance			$ 21,000,000				$ 21,000,000	$ 21,000,000		$ 21,000,000		$ 20,000,000
Number of lawsuits filed \| lawsuit											3
PFOA Matters [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Settlement payments								$ 25,000,000
Period of payments								5 years
PFOA Matters: Drinking Water Actions [Member]
Loss Contingencies [Line Items]
Accrual balance			21,000,000				21,000,000	$ 21,000,000		21,000,000		$ 20,000,000
Binding settlement agreement, class size \| resident									80,000
Number of water districts Company must provide treatment \| water_district								6
PFOA Matters: Drinking Water Actions [Member] \| Funding for medical monitoring program [Member]
Loss Contingencies [Line Items]
Loss contingency, potential additional loss			$ 235,000,000				$ 235,000,000	$ 235,000,000		$ 235,000,000
PFOA Matters: Additional Actions [Member]
Loss Contingencies [Line Items]
Lawsuits alleging personal injury - Filed \| lawsuit						3,500
DuPont [Member]
Loss Contingencies [Line Items]
Lawsuits alleging illness \| lawsuit			50				50	50		50
DuPont [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Settlement payments								$ 25,000,000
DuPont [Member] \| Business Seeking to Recover Losses [Member]
Loss Contingencies [Line Items]
Lawsuits alleging illness \| lawsuit			2				2	2		2
Compensatory and Emotional Distress Damages [Member] \| P F O A M D L Settlement
Loss Contingencies [Line Items]
Loss contingency damages awarded value				$ 40,000,000
Consortium Damages [Member] \| P F O A M D L Settlement
Loss Contingencies [Line Items]
Loss contingency damages awarded value				$ 10,000,000
Compensatory and Punitive Damages [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed \| lawsuit			3				3	3		3
Injunctive Relief and Compensatory and Punitive Damages [Member]
Loss Contingencies [Line Items]
Number of southern California public water systems filed lawsuit \| WaterSystem			11
NJ DEP [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed \| lawsuit					4
Cost of preparation of natural resource damage assessment plan and access to related documents					$ 100,000
Subsequent Event [Member] \| PFOA After First MDL Settlement [Member]
Loss Contingencies [Line Items]
Number of individual plaintiffs \| plaintiff		96
Subsequent Event [Member] \| P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Loss contingency expected settlement amount		$ 83,000,000
Subsequent Event [Member] \| DuPont [Member] \| P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Loss contingency expected settlement amount		27,000,000
Subsequent Event [Member] \| Chemours [Member] \| P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Loss contingency expected settlement amount		29,000,000
Subsequent Event [Member] \| Corteva [Member] \| P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Loss contingency expected settlement amount		27,000,000
Memorandum of Understanding [Member] \| Subsequent Event [Member]
Loss Contingencies [Line Items]
Aggregate amount of qualified spend		$ 4,000,000,000
Memorandum of Understanding [Member] \| Subsequent Event [Member] \| Chemours [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Percentage of escrow deposits contribution to restore escrow balance to 700		50.00%
Memorandum of Understanding [Member] \| Subsequent Event [Member] \| DuPont and Corteva [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Percentage of escrow deposits contribution to restore escrow balance to 700		50.00%
Memorandum of Understanding [Member] \| Subsequent Event [Member] \| No Later Than Each of September 30, 2021 and September 30, 2022 [Member] \| Chemours [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit		$ 100,000,000
Memorandum of Understanding [Member] \| Subsequent Event [Member] \| No Later Than Each of September 30, 2021 and September 30, 2022 [Member] \| DuPont and Corteva [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit		100,000,000
Memorandum of Understanding [Member] \| Subsequent Event [Member] \| No Later Than September 30 of Each Subsequent Year Through and Including 2028 [Member] \| Chemours [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit		50,000,000
Memorandum of Understanding [Member] \| Subsequent Event [Member] \| No Later Than September 30 of Each Subsequent Year Through and Including 2028 [Member] \| DuPont and Corteva [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit		50,000,000
Memorandum of Understanding [Member] \| Subsequent Event [Member] \| Minimum Balance on December 31, 2028 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit		700,000,000
Memorandum of Understanding [Member] \| Subsequent Event [Member] \| Before January 2026 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Minimum settlement amount required to allow withdrawals from escrow account		125,000,000
Memorandum of Understanding [Member] \| Subsequent Event [Member] \| Starting in January 2026 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Minimum amount of qualified spend required to allow withdrawals from escrow account		$ 200,000,000

Commitments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Summary of Asset Retirement Obligations

The following table sets forth the activity in the Company’s asset retirement obligations for the years ended December 31, 2020 and 2019.

	Year Ended December 31,
	2020			2019
Balance at January 1,	$	76		$	66
Obligations incurred or acquired		12			5
(Decrease) increase in estimated cash outflows		(14	)		4
Accretion expense		4			4
Settlements and payments		(2	)		(3	)
Balance at December 31,	$	76		$	76

Current portion	$	13		$	7
Non-current portion		63			69

Schedule of Components of Accrued Litigation

The following table sets forth the components of the Company’s accrued litigation at December 31, 2020 and 2019.

	December 31,
	2020		2019
Asbestos	$	34	$	34
PFOA (1)		50	20
All other matters		4	6
Total accrued litigation	$	88	$	60

(1)

At December 31, 2020, PFOA includes $29 associated with the Company’s portion of the costs to settle PFOA multi-district litigation in Ohio.

Schedule of Current and Long-term Components of Accrued Litigation and Balance Sheet Locations

The following table sets forth the current and long-term components of the Company’s accrued litigation and their balance sheet locations at December 31, 2020 and 2019.

		December 31,
	Balance Sheet Location	2020		2019
Accrued Litigation:
Current accrued litigation (1)	Other accrued liabilities (Note 19)	$	37	$	10
Long-term accrued litigation	Other liabilities (Note 21)		51		50
Total accrued litigation		$	88	$	60

(1)

At December 31, 2020, current accrued litigation includes $29 associated with the Company’s portion of the costs to settle PFOA multi-district litigation in Ohio.

Schedule of Components of Environmental Remediation Liabilities

The following table sets forth the components of the Company’s environmental remediation liabilities at December 31, 2020 and 2019 for the five sites that are deemed the most significant by management, including Fayetteville as further discussed below.

	December 31,
	2020		2019
Chambers Works, Deepwater, New Jersey	$	20	$	20
East Chicago, Indiana		11		17
Fayetteville Works, Fayetteville, North Carolina		194		201
Pompton Lakes, New Jersey		42		43
USS Lead, East Chicago, Indiana		12		13
All other sites		111		112
Total environmental remediation	$	390	$	406

Schedule of Current and Long-term Components of Environmental Remediation Accrual and Balance Sheet Locations

The following table sets forth the current and long-term components of the Company’s environmental remediation liabilities and their balance sheet locations at December 31, 2020 and 2019.

		December 31,
	Balance Sheet Location	2020		2019
Environmental Remediation:
Current environmental remediation	Other accrued liabilities (Note 19)	$	95	$	74
Long-term environmental remediation	Other liabilities (Note 21)		295		332
Total environmental remediation		$	390	$	406

Schedule of On-Site and Off-Site Components of Accrued Environmental Remediation Liabilities Related to PFAS

The following table sets forth the on-site and off-site components of the Company’s accrued environmental remediation liabilities related to PFAS at Fayetteville at December 31, 2020 and 2019.

	December 31,
	2020		2019
On-site remediation	$	140	$	155
Off-site groundwater remediation		54		46
Total accrued liabilities	$	194	$	201

Schedule of Current and Long-term Components of Accrued Environmental Remediation Liabilities and Balance Sheet Locations

The following table sets forth the current and long-term components of the Company’s accrued environmental remediation liabilities related to PFAS at Fayetteville and their balance sheet locations at December 31, 2020 and 2019.

		December 31,
	Balance Sheet Location	2020		2019
Current accrued liabilities	Other accrued liabilities (Note 19)	$	39	$	20
Long-term accrued liabilities	Other liabilities (Note 21)		155		181
Total accrued liabilities		$	194	$	201

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14472-108349

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14326-108349

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14453-108349

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14615-108349

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12021-110248

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14394-108349

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14435-108349

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
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-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14557-108349

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12053-110248

+ Details

Other Accrued Liabilities

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Other Accrued Liabilities

Note 19. Other Accrued Liabilities

The following table sets forth the components of the Company’s other accrued liabilities at December 31, 2020 and 2019.

	December 31,
	2020		2019
Compensation and other employee-related costs	$	107	$	52
Employee separation costs (1)		7		15
Accrued litigation (2)		37		10
Environmental remediation (2)		95		74
Asset retirement obligations (2)		13		7
Income taxes		64		65
Customer rebates		69		72
Deferred revenue		7		7
Accrued interest		18		21
Operating lease liabilities (3)		57		66
Miscellaneous (4)		103		95
Total other accrued liabilities	$	577	$	484

(1)

(2)

(3)

Represents the current portion of operating lease liabilities, which are discussed further in “Note 14 – Leases”.

(4)

Miscellaneous primarily includes accrued utility expenses, property taxes, an accrued indemnification liability, and other miscellaneous expenses.

Inventories - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory Net [Abstract]
LIFO inventory amount	$ 585	$ 674
Percentage of LIFO inventory	49.00%	50.00%

Debt - Estimated Fair Values of Senior Debt Issues (Parenthetical) (Details) € in Millions, $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 EUR (€)
6.625% Senior Unsecured Notes Due May 2023 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 908
Debt instrument interest rate	6.625%	6.625%	6.625%	6.625%
7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 750		$ 750
Debt instrument interest rate	7.00%	7.00%	7.00%	7.00%
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 551	€ 450	$ 501	€ 450
Debt instrument interest rate	4.00%	4.00%	4.00%	4.00%
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 800
Debt instrument interest rate	5.75%	5.75%	5.75%	5.75%
5.375% Senior Unsecured Notes Due May 2027 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 500		$ 500
Debt instrument interest rate	5.375%	5.375%	5.375%	5.375%
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 417	€ 340	$ 383	€ 344

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Accumulated Other Comprehensive (Loss) Income [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Non-controlling Interests [Member]
Total stockholders' equity, beginning balance at Dec. 31, 2017	$ 865	$ 2	$ (116)	$ 837	$ 579		$ (442)		$ 5
Total stockholders' equity, beginning balance (Accounting Standards Update 2018-02 [Member]) at Dec. 31, 2017						$ 9		$ (9)
Shares, beginning balance at Dec. 31, 2017		185,343,034	2,386,406
Common stock issued - compensation plans (in shares)		783,346
Exercise of stock options, net	16			16
Exercise of stock options, net (in shares)		1,078,187
Purchases of treasury stock, at cost	(634)		$ (634)
Purchases of treasury stock at cost (in shares)			14,050,098
Shares issued under employee stock purchase plan (in shares)			(12,411)
Stock-based compensation expense	24			24
Cancellation of unissued stock awards withheld to cover taxes	(17)			(17)
Net income (loss)	996				995				1
Dividends	(117)				(117)
Other comprehensive income (loss)	(113)						(113)
Total stockholders' equity, ending balance at Dec. 31, 2018	1,020	$ 2	$ (750)	860	1,466		(564)		6
Shares, ending balance at Dec. 31, 2018		187,204,567	16,424,093
Common stock issued - compensation plans				1	(1)
Common stock issued - compensation plans (in shares)		1,098,542
Exercise of stock options, net	9			9
Exercise of stock options, net (in shares)		590,369
Purchases of treasury stock, at cost	(322)		$ (322)
Purchases of treasury stock at cost (in shares)			8,895,142
Stock-based compensation expense	19			19
Cancellation of unissued stock awards withheld to cover taxes	(30)			(30)
Net income (loss)	(52)				(52)
Dividends	(164)				(164)
Other comprehensive income (loss)	215						215
Total stockholders' equity, ending balance at Dec. 31, 2019	695	$ 2	$ (1,072)	859	1,249		(349)		6
Shares, ending balance at Dec. 31, 2019		188,893,478	25,319,235
Common stock issued - compensation plans				1	(1)
Common stock issued - compensation plans (in shares)		222,665
Exercise of stock options, net	16			16
Exercise of stock options, net (in shares)		1,123,740
Stock-based compensation expense	16			16
Cancellation of unissued stock awards withheld to cover taxes	(2)			(2)
Net income (loss)	219				219
Dividends	(164)				(164)
Dividends to non-controlling interests	(4)								(4)
Other comprehensive income (loss)	39						39
Total stockholders' equity, ending balance at Dec. 31, 2020	$ 815	$ 2	$ (1,072)	$ 890	$ 1,303		$ (310)		$ 2
Shares, ending balance at Dec. 31, 2020		190,239,883	25,319,235

Commitments and Contingent Liabilities - Schedule of Components of Accrued Litigation (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Accrued litigation	$ 88	$ 60
PFOA Multi District Litigation in Ohio [Member]
Loss Contingencies [Line Items]
Accrued litigation	$ 29

Research and Development Expense (Tables)

12 Months Ended

Dec. 31, 2020

Research And Development [Abstract]

Summary of R&D Expense by Segment

The following table sets forth the Company’s R&D expense by segment for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019		2018
Titanium Technologies	$	31	$	29	$	28
Thermal & Specialized Solutions		18		17		19
Advanced Performance Materials		41		31		31
Chemical Solutions		2		2		2
Corporate and Other		1		1		2
Total research and development expense	$	93	$	80	$	82

Stock-based Compensation - Weighted Average Assumptions of Stock Option (Details) - Stock Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	0.94%	2.53%	2.65%
Expected term (years)	6 years	6 years	6 years
Volatility	53.18%	48.05%	47.56%
Dividend yield	6.93%	2.81%	1.42%
Fair value per stock option	$ 3.74	$ 13.66	$ 20.47

Goodwill and Other Intangible Assets, Net - Schedule of Other Intangible Assets (Details) - USD ($)
$ in Millions

Dec. 31, 2020

Dec. 31, 2019

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Cost

$ 68

Accumulated Amortization

(54)

(47)

Net

Customer Lists [Member]

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Cost

Accumulated Amortization

(9)

(8)

Net

Customer Relationships [Member]

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Cost

Accumulated Amortization

(12)

(8)

Net

Patents [Member]

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Cost

Accumulated Amortization

(19)

Net

Purchased Trademarks [Member]

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Cost

Accumulated Amortization

(3)

Net

Purchased and Licensed Technology [Member]

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Cost

Accumulated Amortization

(3)

Net

Other [Member]

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Cost

^[1]

Accumulated Amortization

^[1]

(8)

(6)

Net

^[1]

$ 2

$ 4

[1]

Stock-based Compensation

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation

Note 24. Stock-based Compensation

The Company’s stock-based compensation expense amounted to $16, $19, and $24 for the years ended December 31, 2020, 2019, and 2018, respectively.

On April 26, 2017, Chemours’ stockholders approved The Chemours Company 2017 Equity and Incentive Plan (the “2017 Plan”), which provides for grants to certain employees, independent contractors, or non-employee directors of the Company of different forms of awards, including stock options, RSUs, and PSUs. The 2017 Plan replaced The Chemours Company Equity and Incentive Plan (the “Prior Plan”), which was adopted by the Company at Separation. As a result, no further grants will be made under the Prior Plan.

A total of 19,000,000 shares of the Company’s common stock may be subject to awards granted under the 2017 Plan, less one share for every one share that was subject to an option or stock appreciation right granted after December 31, 2016 under the Prior Plan, and one-and-a-half shares for every one share that was subject to an award other than an option or stock appreciation right granted after December 31, 2016 under the Prior Plan. Any shares that are subject to options or stock appreciation rights will be counted against this limit as one share for every one share granted, and any shares that are subject to awards other than options or stock appreciation rights will be counted against this limit as one-and-a-half shares for every one share granted. Awards that were outstanding under the Prior Plan remain outstanding under the Prior Plan in accordance with their terms. Shares underlying awards granted under the Prior Plan after December 31, 2016 that are forfeited, cancelled, or that otherwise do not result in the issuance of shares, will be available for issuance under the 2017 Plan. At December 31, 2020, approximately 10,200,000 shares of equity and incentive plan reserve are available for grants under the 2017 Plan.

The Chemours Compensation and Leadership Development Committee determines the long-term incentive mix, including stock options, RSUs, and PSUs, and may authorize new grants annually.

Stock Options

During the years ended December 31, 2020, 2019, and 2018, Chemours granted non-qualified stock options to certain of its employees, which will vest over a three-year period and expire 10 years from the date of grant. The fair values of the Company’s stock options are based on the Black-Scholes valuation model.

	Year Ended December 31,
	2020			2019			2018
Risk-free interest rate		0.94	%		2.53	%		2.65	%
Expected term (years)		6.00			6.00			6.00
Volatility		53.18	%		48.05	%		47.56	%
Dividend yield		6.93	%		2.81	%		1.42	%
Fair value per stock option	$	3.74		$	13.66		$	20.47

The Company determined the dividend yield by dividing the expected annual dividend on the Company's stock by the option exercise price. A historical daily measurement of volatility is determined based on the blended volatilities of Chemours and the average of its peer companies, adjusted for Chemours’ debt leverage. The risk-free interest rate is determined by reference to the yield on an outstanding U.S. Treasury note with a term equal to the expected term of the option granted. The expected term is determined using a simplified approach, calculated as the mid-point between the graded vesting period and the contractual life of the award.

The following table sets forth Chemours’ stock option activity for the years ended December 31, 2020, 2019, and 2018.

	Number of Shares (in Thousands)			Weighted-average Exercise Price (per Share)		Weighted-average Remaining Contractual Term (in Years)		Aggregate Intrinsic Value (in Thousands)
Outstanding, December 31, 2017		6,597		$	15.72		5.11	$	226,524
Granted		495			48.41
Exercised		(1,073	)		14.69
Forfeited		(46	)		37.77
Expired		(3	)		18.80
Outstanding, December 31, 2018		5,970		$	18.45		4.80	$	72,108
Granted		836			36.48
Exercised		(590	)		14.56
Forfeited		(110	)		39.06
Expired		(50	)		22.12
Outstanding, December 31, 2019		6,056		$	20.92		4.71	$	19,087
Granted		2,778			14.42
Exercised		(1,124	)		14.23
Forfeited		(186	)		23.84
Expired		(165	)		29.99
Outstanding, December 31, 2020		7,359		$	19.21		6.21	$	63,894
Exercisable, December 31, 2020		4,050		$	19.38		4.00	$	35,958

The aggregate intrinsic values in the preceding table represent the total pre-tax intrinsic value (the difference between the Company's closing stock price on the last trading day at the end of the year and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their in-the-money options at year-end. The amount changes based on the fair market value of the Company’s stock. The total intrinsic value of all options exercised for the years ended December 31, 2020, 2019, and 2018 amounted to $12, $2, and $37, respectively.

For the years ended December 31, 2020, 2019, and 2018, the Company recorded $9, $9, and $8 in stock-based compensation expense specific to its stock options, respectively. At December 31, 2020, there was $7 of unrecognized stock-based compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 1.78 years.

Restricted Stock Units

Chemours grants RSUs to key management employees that generally vest over a three-year period and, upon vesting, convert one-for-one to Chemours’ common stock. The fair value of all stock-settled RSUs is based on the market price of the underlying common stock at the grant date. RSUs vest contingent upon a time-based vesting condition and do not have explicit performance conditions.

The following table sets forth non-vested RSUs at December 31, 2020, 2019, and 2018.

	Number of Shares (in Thousands)			Weighted-average Grant Date Fair Value (per Share)
Non-vested, December 31, 2017		1,165		$	15.34
Granted		135			48.35
Vested		(1,034	)		14.86
Forfeited		(19	)		30.94
Non-vested, December 31, 2018		247		$	34.22
Granted		439			26.89
Vested		(110	)		24.98
Forfeited		(30	)		33.90
Non-vested, December 31, 2019		546		$	29.95
Granted		585			17.01
Vested		(161	)		38.68
Forfeited		(60	)		25.78
Non-vested, December 31, 2020		910		$	20.51

For the years ended December 31, 2020, 2019, and 2018, the Company recorded $7 in stock-based compensation expense specific to its RSUs. At December 31, 2020, there was $12 of unrecognized stock-based compensation expense related to RSUs, which is expected to be recognized over a weighted-average period of 1.23 years.

Performance Share Units

Chemours grants PSUs to key senior management employees which, upon vesting, convert one-for-one to Chemours’ common stock if specified performance goals, including certain market-based conditions, are met over the three-year performance period specified in the grant, subject to exceptions through the respective vesting period of three years. Each grantee is granted a target award of PSUs, and may earn between 0% and 250% of the target amount depending on the Company’s performance against stated performance goals.

The following table sets forth non-vested PSUs at 100% of target amounts at December 31, 2020, 2019, and 2018.

	Number of Shares (in Thousands)			Weighted-average Grant Date Fair Value (per Share)
Non-vested, December 31, 2017		987		$	12.94
Granted		139			52.34
Vested		(19	)		24.16
Non-vested, December 31, 2018		1,107		$	17.71
Granted		240			44.38
Vested (1)		(761	)		5.07
Forfeited		(57	)		43.35
Non-vested, December 31, 2019		529		$	39.53
Granted		542			17.14
Vested		(176	)		35.84
Forfeited		(51	)		27.79
Non-vested, December 31, 2020		844		$	29.05

(1)

A portion of the fair value of PSUs was estimated at the grant date based on the probability of satisfying the market-based conditions associated with the PSUs using the Monte Carlo valuation method, which assesses the probabilities of various outcomes of market conditions. The other portion of the fair value of the PSUs is based on the fair market value of the Company’s stock at the grant date, regardless of whether the market-based condition is satisfied. The per unit weighted-average fair value at the date of grant for PSUs granted during the year ended December 31, 2020 was $17.14. The fair value of each PSU grant is amortized monthly into compensation expense based on its respective vesting conditions over a three-year period. Compensation cost is incurred based on the Company’s estimate of the final expected value of the award, which is adjusted as required for the portion based on the performance-based condition. The Company assumes that forfeitures will be minimal and recognizes forfeitures as they occur, which results in a reduction in compensation expense. As the payout of PSUs includes dividend equivalents, no separate dividend yield assumption is required in calculating the fair value of the PSUs.

For the years ended December 31, 2020, 2019, and 2018, the Company recorded a reduction of stock-based compensation of less than $1 and stock-based compensation expense of $3 and $9 specific to its PSUs, respectively. At December 31, 2020, based on the Company’s assessment of its performance goals, approximately 1,100,000 additional shares may be awarded under the 2017 Plan.

Employee Stock Purchase Plan

Since 2017, the Company has provided employees the opportunity to participate in The Chemours Company Employee Stock Purchase Plan (“ESPP”). Under the ESPP, a total of 7,000,000 shares of Chemours’ common stock is reserved and authorized for issuance to participating employees, as defined by the ESPP, which excludes executive officers of the Company. The ESPP provides for consecutive 12-month offering periods, each with two purchase periods in March and September within those offering periods. The initial offering period under the ESPP began on October 2, 2017. Participating employees are eligible to purchase the Company’s common stock at a discounted rate equal to 95% of its fair value on the last trading day of each purchase period.

To date, the Company has executed open market transactions to purchase the Company’s common stock on behalf of its ESPP participants, which amounted to 226,000 shares. During the year ended December 31, 2018, an additional 12,411 shares were issued from the Company’s treasury stock to ESPP participants. The total amount of Chemours’ common stock received by employees in connection with the ESPP amounted to $5 at December 31, 2020.

Leases - Schedule of Company's Lease Liabilities' Maturities For Next Five Years and Thereafter (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 69
2022	52
2023	37
2024	30
2025	24
Thereafter	94
Total lease payments	306
Less: Imputed interest	55
Present value of lease liabilities	251
Finance Leases
2021	12
2022	11
2023	11
2024	11
2025	11
Thereafter	35
Total lease payments	91
Less: Imputed interest	17
Present value of lease liabilities	74	$ 59
Operating and Finance Leases, Total
2021	81
2022	63
2023	48
2024	41
2025	35
Thereafter	129
Total lease payments	397
Less: Imputed interest	72
Present value of lease liabilities	$ 325

Income Taxes - Summary of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. operations (including exports)	$ (136)	$ (375)	$ 114
International operations	315	251	1,041
Income (loss) before income taxes	$ 179	$ (124)	$ 1,155

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Debt - Accounts Receivable Securitization Facility - Narrative (Details) - USD ($)			12 Months Ended
	Mar. 09, 2020	Jul. 12, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Net repayments of securitization			$ 122,000,000	$ 18,000,000	$ 0
Proceeds from accounts receivable securitization facility			12,000,000	128,000,000	$ 0
Securitization Facility [Member]
Line of Credit Facility [Line Items]
Short-term debt				110,000,000
Securitization Facility [Member] \| Special Purpose Entity [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 125,000,000	$ 125,000,000
Increase in borrowing capacity		200,000,000
Receivable from securitization facility	125,000,000		33,000,000	$ 176,000,000
Weighted average interest rate on outstanding borrowings				2.00%
Proceeds from short-term debt				$ 128,000,000
Repayments of short-term debt				18,000,000
Short-term debt				$ 110,000,000
Net repayments of securitization	$ 110,000,000
Percentage of fair value of sales receivables	100.00%
Percentage of fair value on additional purchases of receivables	100.00%
Line of credit facility, maximum borrowing capacity	$ 125,000,000	$ 125,000,000
Proceeds from accounts receivable securitization facility			932,000,000
Accounts receivable from securitization, amount derecognized			932,000,000
Fees associated with securitization facility			$ 2,000,000

Other Income (Expense), Net (Tables)

12 Months Ended

Dec. 31, 2020

Other Income And Expenses [Abstract]

Components of Other Income (Expense)

The following table sets forth the components of the Company’s other income (expense), net for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Leasing, contract services, and miscellaneous income (1)	$	20		$	51		$	79
Royalty income (2)		18			16			10
Gain on sales of assets and businesses (3)		8			10			45
Exchange (losses) gains, net (4)		(26	)		(2	)		1
Non-operating pension and other post-retirement employee benefit income (cost) (5)		1			(368	)		27
Total other income (expense), net	$	21		$	(293	)	$	162

(1)

(2)

Royalty income for the years ended December 31, 2020, 2019, and 2018 is primarily from technology licensing.

(3)

(4)

Exchange (losses) gains, net includes gains and losses on the Company’s foreign currency forward contracts that have not been designated as a cash flow hedge.

(5)

Other Income (Expense), Net - Components of Other Income (Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income And Expenses [Abstract]
Leasing, contract services and miscellaneous income	$ 20	$ 51	$ 79
Royalty income	18	16	10
Gain on sales of assets and businesses	8	10	45
Exchange (losses) gains, net	(26)	(2)	1
Non-operating pension and other post-retirement employee benefit income (cost)	1	(368)	27
Total other income (expense), net	$ 21	$ (293)	$ 162

Geographic and Segment Information - Reconciliation of Segment Adjusted EBITDA from Segments to Consolidated Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting [Abstract]
Segment Adjusted EBITDA	$ 1,063	$ 1,163	$ 1,902
Corporate and Other expenses (excluding items below)	(184)	(143)	(162)
Interest expense, net	(210)	(208)	(195)
Depreciation and amortization	(320)	(311)	(284)
Non-operating pension and other post-retirement employee benefit income (cost)	1	(368)	27
Exchange (losses) gains, net	(26)	(2)	1
Restructuring, asset-related, and other charges	(80)	(87)	(49)
Loss on extinguishment of debt	(22)	0	(38)
Gain on sales of assets and businesses	8	10	45
Transaction costs	(2)	(3)	(9)
Legal and environmental charges	(49)	(175)	(82)
Other charges			(1)
Income (loss) before income taxes	$ 179	$ (124)	$ 1,155

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory Net [Abstract]
Finished products	$ 579	$ 589
Semi-finished products	180	189
Raw materials, stores, and supplies	433	559
Inventories before LIFO adjustment	1,192	1,337
Less: Adjustment of inventories to LIFO basis	(253)	(258)
Total inventories	$ 939	$ 1,079

Basis of Presentation - Narrative (Details) $ in Millions		3 Months Ended			12 Months Ended
Basis of Presentation - Narrative (Details) $ in Millions	Apr. 08, 2020 USD ($)	Dec. 31, 2020 USD ($) segment	Sep. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Deferred acquisition-related installment payment classified as cash used for investing activities					$ 0	$ 10	$ 37
Deferred acquisition-related installment payment adjusted to financing activities					$ 10	0	0
Number of reportable segments \| segment		4			4
Revolving credit facility borrowed amount				$ 150	$ 300	150	$ 0
Deferred tax payments						$ 78
Senior Secured Revolving Credit Facility [Member]
Segment Reporting Information [Line Items]
Revolving credit facility borrowed amount	$ 300
COVID 19 [Member]
Segment Reporting Information [Line Items]
Deferred tax payments		$ 80			80
Payment of tax		$ 35
COVID 19 [Member] \| Senior Secured Revolving Credit Facility [Member]
Segment Reporting Information [Line Items]
Revolving credit facility borrowed amount	$ 300
Southern Ionics Minerals, LLC [Member]
Segment Reporting Information [Line Items]
Deferred acquisition-related installment payment classified as cash used for investing activities			$ 10
Deferred acquisition-related installment payment adjusted to financing activities					$ 10

Property, Plant, and Equipment, Net - Summary of Property, Plant, and Equipment, Net (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Property, plant, and equipment	$ 9,582	$ 9,413
Less: Accumulated depreciation	(6,108)	(5,854)
Property, plant, and equipment, net	3,474	3,559	$ 3,291
Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	7,816	7,600
Building [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	1,198	1,174
Construction-in-progress [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	421	493
Land [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	111	110
Mineral rights [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	$ 36	$ 36

Geographic and Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Geographic and Segment Information

Note 28. Geographic and Segment Information

Geographic Information

The following table sets forth the geographic locations of the Company’s net sales for the years ended and property, plant, and equipment, net as of December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020				2019				2018
	Net Sales (1)		Property, Plant, and Equipment, Net		Net Sales (1)		Property, Plant, and Equipment, Net		Net Sales (1)		Property, Plant, and Equipment, Net
North America	$	1,914	$	2,461	$	2,144	$	2,533	$	2,378	$	2,279
Asia Pacific		1,384		121		1,543		121		1,720		124
Europe, the Middle East, and Africa		1,086		324		1,163		294		1,685		293
Latin America (2)		585		568		676		611		855		595
Total	$	4,969	$	3,474	$	5,526	$	3,559	$	6,638	$	3,291

(1)

Net sales are attributed to countries based on customer location.

(2)

Latin America includes Mexico.

Segment Information

Chemours’ operations consist of four reportable segments based on similar economic characteristics, the nature of products and production processes, end-use markets, channels of distribution, and regulatory environments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. Corporate costs and certain legal and environmental expenses, stock-based compensation expenses, and foreign exchange gains and losses arising from the remeasurement of balances in currencies other than the functional currency of the Company’s legal entities are reflected in Corporate and Other.

During the fourth quarter of 2020, the Company changed the level of detail at which its CODM regularly reviews and manages certain of its businesses, resulting in the bifurcation of its former Fluoroproducts segment into two standalone reportable segments: Thermal & Specialized Solutions (formerly Fluorochemicals) and Advanced Performance Materials (formerly Fluoropolymers). This change allows Chemours to enhance its customer focus and better align its business models, resources, and cost structure to the specific current and future secular growth drivers of each business, while providing increased transparency to the Company’s shareholders. The historical segment information has been recast to conform to the current segment structure.

Adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) is the primary measure of segment profitability used by the Company’s CODM and is defined as income (loss) before income taxes, excluding the following:

•

interest expense, depreciation, and amortization;

•

non-operating pension and other post-retirement employee benefit costs, which represents the components of net periodic pension (income) costs excluding the service cost component;

•

exchange (gains) losses included in other income (expense), net;

•

restructuring, asset-related, and other charges;

•

(gains) losses on sales of assets and businesses; and,

•

other items not considered indicative of the Company’s ongoing operational performance and expected to occur infrequently.

The following table sets forth certain summary financial information for the Company’s reportable segments as of, and for the years ended, December 31, 2020, 2019, and 2018.

Year Ended December 31,	Titanium Technologies		Thermal & Specialized Solutions		Advanced Performance Materials		Chemical Solutions		Segment Total
2020
Net sales to external customers (1)	$	2,402	$	1,105	$	1,104	$	358	$	4,969
Adjusted EBITDA		510		354		126		73		1,063
Depreciation and amortization		128		53		88		21		290
Equity in earnings of affiliates		—		6		17		—		23
Total assets		2,130		1,041		1,520		531		5,222
Investments in affiliates		—		66		101		—		167
Purchases of property, plant, and equipment		89		28		109		25		251

2019
Net sales to external customers (1)	$	2,345	$	1,318	$	1,330	$	533	$	5,526
Adjusted EBITDA		505		398		180		80		1,163
Depreciation and amortization		121		52		84		22		279
Equity in earnings of affiliates		—		11		18		—		29
Total assets		2,291		1,061		1,521		574		5,447
Investments in affiliates		—		64		98		—		162
Purchases of property, plant, and equipment		121		32		169		40		362

2018
Net sales to external customers (1)	$	3,174	$	1,497	$	1,365	$	602	$	6,638
Adjusted EBITDA		1,055		542		241		64		1,902
Depreciation and amortization		119		37		80		20		256
Equity in earnings of affiliates		—		17		26		—		43
Total assets		2,354		1,187		1,557		623		5,721
Investments in affiliates		—		61		99		—		160
Purchases of property, plant, and equipment		91		156		118		75		440

(1)

Segment net sales to external customers are provided by product group in “Note 5 – Net Sales”.

The following table sets forth a reconciliation for instances in which the above summary financial information for the Company’s reportable segments does not sum to consolidated amounts.

Year Ended December 31,	Segment Total		Corporate and Other		Total Consolidated
2020
Depreciation and amortization	$	290	$	30	$	320
Total assets		5,222		1,860		7,082
Purchases of property, plant, and equipment		251		16		267

2019
Depreciation and amortization	$	279	$	32	$	311
Total assets		5,447		1,811		7,258
Purchases of property, plant, and equipment		362		119		481

2018
Depreciation and amortization	$	256	$	28	$	284
Total assets		5,721		1,641		7,362
Purchases of property, plant, and equipment		440		58		498

The following table sets forth a reconciliation of Segment Adjusted EBITDA to the Company’s consolidated income (loss) before income taxes for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Segment Adjusted EBITDA	$	1,063		$	1,163		$	1,902
Corporate and Other expenses (excluding items below)		(184	)		(143	)		(162	)
Interest expense, net		(210	)		(208	)		(195	)
Depreciation and amortization		(320	)		(311	)		(284	)
Non-operating pension and other post-retirement employee benefit income (cost) (1)		1			(368	)		27
Exchange (losses) gains, net		(26	)		(2	)		1
Restructuring, asset-related, and other charges (2)		(80	)		(87	)		(49	)
Loss on extinguishment of debt		(22	)		—			(38	)
Gain on sales of assets and businesses (3)		8			10			45
Transaction costs (4)		(2	)		(3	)		(9	)
Legal and environmental charges (5)		(49	)		(175	)		(82	)
Other charges		—			—			(1	)
Income (loss) before income taxes	$	179		$	(124	)	$	1,155

(1)

(2)

Includes restructuring, asset-related, and other charges, which are discussed in further detail in “Note 7 – Restructuring, Asset-related, and Other Charges”.

(3)

(4)

Includes costs associated with the Company’s debt transactions, as well as accounting, legal, and bankers’ transaction costs incurred in connection with the Company’s strategic initiatives.

(5)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Investments in Affiliates (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments And Joint Ventures [Abstract]

Schedule of Investments in Affiliates

The following table sets forth the jurisdiction, carrying value, and ownership percentages of the Company’s investments in affiliates at December 31, 2020 and 2019.

		December 31, 2020			December 31, 2019
Investee	Jurisdiction	Carrying Value		Ownership	Carrying Value		Ownership
Chemours-Mitsui Fluorochemicals Company, Ltd.	Japan	$	104	50.0%	$	96	50.0%
The Chemours Chenguang Fluoromaterials Company Limited	China		32	50.0%		33	50.0%
Changshu 3F Zhonghao New Chemical Materials Co., Ltd.	China		31	10.0%		33	10.0%
		$	167		$	162

Schedule of Changes in Investments in Affiliates

The following table sets forth the changes in the Company’s investments in affiliates for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Balance at January 1,	$	162		$	160		$	173
Equity in earnings of affiliates		23			29			43
Dividends		(25	)		(28	)		(58	)
Currency translation and other		7			1			2
Balance at December 31,	$	167		$	162		$	160

Long-term Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2020

General Discussion Of Pension And Other Postretirement Benefits [Abstract]

Schedules of Net Periodic Pension (Cost) Income

The following table sets forth the Company’s net periodic pension (cost) income and amounts recognized in other comprehensive income (loss) for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Service cost	$	(15	)	$	(13	)	$	(14	)
Interest cost		(6	)		(17	)		(16	)
Expected return on plan assets		17			48			58
Amortization of actuarial loss		(9	)		(18	)		(12	)
Amortization of prior service gain		3			2			2
Settlement loss		(5	)		(383	)		—
Curtailment gain		1			—			—
Total net periodic pension (cost) income	$	(14	)	$	(381	)	$	18

Net gain (loss)	$	4		$	(144	)	$	(115	)
Prior service (cost) benefit		(1	)		5			—
Amortization of actuarial loss		9			18			16
Amortization of prior service gain		(3	)		(2	)		(2	)
Settlement loss		5			383			—
Curtailment gain		4			—			—
Effect of foreign exchange rates		(9	)		7			8
Benefit (cost) recognized in other comprehensive income		9			267			(93	)
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$	(5	)	$	(114	)	$	(75	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The following table sets forth the pre-tax amounts recognized in accumulated other comprehensive loss at December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Net loss	$	143		$	151		$	419
Prior service credit		(12	)		(14	)		(10	)
Total amount recognized in accumulated other comprehensive loss	$	131		$	137		$	409

Summary of Benefit Obligations and Fair Value of Plan Assets and Funded Status of Plan

The following table sets forth summarized information on the Company’s pension plans at December 31, 2020 and 2019.

	December 31,
	2020			2019
Change in benefit obligation:
Benefit obligation at beginning of year	$	507		$	1,168
Service cost		15			13
Interest cost		6			17
Plan participants’ contributions		2			2
Actuarial loss		33			313
Benefits paid		(2	)		(37	)
Plan amendments		—			(5	)
Settlements and transfers		(24	)		(945	)
Currency translation		47			(19	)
Benefit obligation at end of year		584			507
Change in plan assets:
Fair value of plan assets at beginning of year		500			1,268
Actual return on plan assets		55			217
Employer contributions		20			19
Plan participants’ contributions		2			2
Benefits paid		(2	)		(37	)
Settlements and transfers		(21	)		(945	)
Currency translation		50			(24	)
Fair value of plan assets at end of year		604			500
Total funded status at end of year	$	20		$	(7	)

Schedule of Amounts Recognized in the Consolidated Balance Sheet

The following table sets forth the net amounts recognized in the Company’s consolidated balance sheets at December 31, 2020 and 2019.

	December 31,
	2020			2019
Non-current assets	$	79		$	59
Current liabilities		(2	)		(2	)
Non-current liabilities		(57	)		(64	)
Total net amount recognized	$	20		$	(7	)

Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets

	December 31,
Pension plans with projected benefit obligation in excess of plan assets	2020		2019
Projected benefit obligation	$	175	$	178
Accumulated benefit obligation		148		150
Fair value of plan assets		116		111

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

	December 31,
Pension plans with accumulated benefit obligation in excess of plan assets	2020		2019
Projected benefit obligation	$	153	$	178
Accumulated benefit obligation		131		150
Fair value of plan assets		98		111

Schedule of Assumptions Used

The following tables set forth the assumptions that have been used to determine the Company’s benefit obligations and net benefit cost at December 31, 2020 and 2019.

	December 31,
Weighted-average assumptions used to determine benefit obligations	2020			2019
Discount rate		1.0	%		1.4	%
Rate of compensation increase (1)		2.5	%		2.6	%
Interest crediting rate (2)		1.3	%		1.5	%

(1)

The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant’s entire career at Chemours.

(2)

	December 31,
Weighted-average assumptions used to determine net benefit cost	2020			2019
Discount rate		1.4	%		2.0	%
Rate of compensation increase (1)		2.5	%		2.5	%
Expected return on plan assets		3.2	%		4.1	%

(1)

The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant’s entire career at Chemours.

Schedule of Allocation of Plan Assets

The following table sets forth the weighted-average allocation for the Company’s pension plan assets at December 31, 2020 and 2019.

	December 31,
	2020			2019
Cash and cash equivalents		7	%		8	%
U.S. and non-U.S. equity securities		37	%		52	%
Fixed income securities		56	%		40	%
Total weighted-average allocation		100	%		100	%

The following tables set forth the fair values of the Company’s pension assets by level within the fair value hierarchy at December 31, 2020 and 2019.

	Fair Value Measurements at December 31, 2020
	Total		Level 1		Level 2
Asset category:
Debt - government issued	$	60	$	10	$	50
Debt - corporate issued		158		42		116
U.S. and non-U.S. equities		220		33		187
Derivatives - asset position		93		—		93
Cash and cash equivalents		43		43		—
Other		2		—		2
Total pension assets at fair value		576	$	128	$	448
Pooled mortgage funds (1)		28
Total pension assets	$	604

(1)

	Fair Value Measurements at December 31, 2019
	Total			Level 1		Level 2
Asset category:
Debt - government issued	$	150		$	9	$	141
Debt - corporate issued		51			47		4
U.S. and non-U.S. equities		102			101		1
Mutual funds		135			—		135
Derivatives - asset position		28			—		28
Cash and cash equivalents		41			41		—
Other		2			2		—
Total pension assets at fair value		509		$	200	$	309
Pension trust payables, net (1)		(9	)
Total pension assets	$	500

(1)

Pension trust payables are primarily for investments purchased and received but not yet paid.

Schedule of Expected Benefit Payments

The following table sets forth the benefit payments that are expected to be paid by the plans over the next five years and the five years thereafter.

2021	$	10
2022		10
2023		13
2024		15
2025		15
2026 to 2030		98

Long-term Employee Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2015	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Decrease to net pension assets	$ 158
Settlement loss	380		$ 14	$ 381	$ (18)
Employer contributions during period			27	34	$ 51
Netherlands Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension benefits	$ 932			$ 932
Defined benefit plan loss partially offset by gain related to change in mortality assumption			7
Defined benefit plan gain from change in other demographic assumptions			1
Additional loss from unfavorable actuarial experience and other assumption changes			(3)
Global Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan net actuarial loss			(33)
Defined benefit plan decrease in discount rates resulted in loss			(38)
Actual return on plan assets			55
Defined benefit plan, incremental gains			$ 38
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution percent of employees' gross pay		1.00%
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution percent of employees' gross pay		7.00%
Chemours [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution percent of match		100.00%
Employer matching contribution percent of employees' gross pay		6.00%
Employer contribution vesting period		3 years

Investments in Affiliates - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investee [Member]
Investments in Affiliates
Net sales	$ 98	$ 135	$ 143
Purchases	$ 133	$ 249	$ 125
Consolidated Subsidiaries [Member] \| Minimum [Member]
Investments in Affiliates
Voting stock ownership percentage	20.00%
Consolidated Subsidiaries [Member] \| Maximum [Member]
Investments in Affiliates
Voting stock ownership percentage	50.00%

Stock-based Compensation - Stock Option Activity (Details) - Stock Option [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance, shares	6,056	5,970	6,597
Granted, shares	2,778	836	495
Exercised, shares	(1,124)	(590)	(1,073)
Forfeited, shares	(186)	(110)	(46)
Expired, shares	(165)	(50)	(3)
Outstanding, ending balance, shares	7,359	6,056	5,970	6,597
Exercisable, shares	4,050
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding, weighted average exercise price, beginning balance (in dollars per share)	$ 20.92	$ 18.45	$ 15.72
Granted, weighted average exercise price (in dollars per share)	14.42	36.48	48.41
Exercised, weighted average exercise price (in dollars per share)	14.23	14.56	14.69
Forfeited, weighted average exercise price (in dollars per share)	23.84	39.06	37.77
Expired, weighted average exercise price (in dollars per share)	29.99	22.12	18.80
Outstanding, weighted average exercise price, ending balance (in dollars per share)	19.21	$ 20.92	$ 18.45	$ 15.72
Exercisable, weighted average exercise price (in dollars per share)	$ 19.38
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding, weighted average remaining contractual term	6 years 2 months 15 days	4 years 8 months 15 days	4 years 9 months 18 days	5 years 1 month 9 days
Options exercisable, weighted average remaining contractual term	4 years
Options outstanding, aggregate intrinsic value	$ 63,894	$ 19,087	$ 72,108	$ 226,524
Options exercisable, aggregate intrinsic value	$ 35,958

Basis of Presentation

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation

Note 2. Basis of Presentation

The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”). In the opinion of management, all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation of the Company’s financial position and results of operations have been included for the periods presented herein. The notes that follow are an integral part of the Company’s consolidated financial statements.

Certain prior period amounts have been reclassified to conform to the current period presentation, the effect of which was not material to the Company’s consolidated financial statements. Specific to the Company’s acquisition of Southern Ionics Minerals, LLC (“SIM”) in the third quarter of 2019, a previously deferred acquisition-related installment payment of $10 was made in the third quarter of 2020 and classified as cash used for investing activities on the Company’s consolidated statements of cash flows for the nine months ended September 30, 2020. The Company’s classification of this payment was adjusted in the consolidated statements of cash flows for the year ended December 31, 2020 to be reflected as cash used for financing activities, the effect of which was not material to the Company’s previously filed Quarterly Report on Form 10-Q for the period ended September 30, 2020.

Change in Segment Reporting

During the fourth quarter of 2020, the Company changed the level of detail at which its Chief Executive Officer (“CEO”) and Chief Operating Officer (“COO”) (together, the Chief Operating Decision Maker, or “CODM”) regularly review and manage certain of its businesses, resulting in the bifurcation of its former Fluoroproducts segment into two standalone reportable segments: Thermal & Specialized Solutions (formerly Fluorochemicals) and Advanced Performance Materials (formerly Fluoropolymers). The Company now manages and reports its operating results through four reportable segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. This change allows Chemours to enhance its customer focus and better align its business models, resources, and cost structure to the specific current and future secular growth drivers of each business, while providing increased transparency to the Company’s shareholders. The historical segment information has been recast to conform to the current segment structure.

Considerations related to the current novel coronavirus disease (“COVID-19”)

In December 2019, an outbreak of illness caused by COVID-19 was identified in Wuhan, China, and the virus has since continued to spread globally. In March 2020, the World Health Organization declared COVID-19 a global pandemic, and the President of the United States declared the COVID-19 outbreak a national emergency. Since the initial stages of the pandemic, certain economies in regions throughout the world have started to reopen; however, certain of these regions have also seen further spread and even resurgences in the number of positively identified infections. Particularly in the Americas and Europe, infections have continued to spread, leading to health-related concerns in regions where the Company has several key manufacturing facilities. In an attempt to minimize the transmission of COVID-19, significant social and economic restrictions have been imposed throughout the U.S. and abroad, including travel bans, quarantines, restrictions on public gatherings, shelter-in-place orders, and/or safer-at-home orders. These restrictions, while necessary and important for public health, have negative business-related implications for the Company and the U.S. and global economies. In consideration of the Company’s global customer base, the rates at which economies across the globe recover or worsen may drive varying levels of end-market demand for the various performance chemicals provided by the Company’s four segments. In turn, the magnitude and duration of the COVID-19 pandemic create significant uncertainties for the Company’s customer demand and financial results and, during the year ended December 31, 2020, have caused adverse impacts on the Company’s results of operations.

In response to the macroeconomic uncertainties driven by COVID-19, management decided to take certain precautionary measures. On April 8, 2020, the Company drew $300 from its revolving credit facility, which was subsequently repaid during the third quarter of 2020 based on the Company’s liquidity position. Management also elected to accept tax relief provided by various taxing jurisdictions, resulting in the deferral of approximately $80 in tax payments, of which approximately $35 was paid in the fourth quarter of 2020. From a cost savings perspective, management implemented a range of actions aimed at reducing costs, inclusive of reducing all discretionary spend, freezing non-critical hiring, delaying external spend wherever possible, reducing structural plant fixed costs, and temporarily reducing base salaries where legally permissible. The temporary base salary reductions were discontinued in September 2020. Management continues to expect that cash generated from operations, available cash, receivables securitization, and existing debt financing arrangements will provide the Company with sufficient liquidity through at least February 2022.

In the preparation of these financial statements and related disclosures, management has assessed the impact of COVID-19 on its results, estimates, assumptions, forecasts, and accounting policies and made additional disclosures, as necessary. As the COVID-19 situation is unprecedented and ever evolving, future events and effects related to the illness cannot be determined with precision, and actual results could significantly differ from estimates or forecasts.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Change in Segment Reporting

Preparation of Financial Statements

Principles of Consolidation

All intercompany accounts and transactions were eliminated in the preparation of the accompanying consolidated financial statements.

Revenue Recognition

Research and Development Expense

Provision for (Benefit from) Income Taxes

Earnings Per Share

Cash and Cash Equivalents

Cash and cash equivalents generally include cash, time deposits, or highly liquid investments with maturities of three months or less at the time of acquisition.

Accounts and Notes Receivable and Allowance for Doubtful Accounts

Inventories

Property, Plant and Equipment

Property, Plant, and Equipment

Impairment of Long-Lived Assets

Impairment of Long-lived Assets

Leases

Goodwill and Other Intangible Assets

Asset Retirement Obligations

Insurance

Litigation

Environmental Liabilities and Expenditures

Treasury Stock

Chemours accounts for repurchases of the Company’s common stock as treasury stock using the cost method, whereby the entire cost of the acquired common stock is recorded as treasury stock.

Stock-based Compensation

Financial Instruments

Financial instruments are reported on a gross basis on the consolidated balance sheets.

Foreign Currency Translation

Defined Benefit Plans

Fair Value Measurement

Chemours applies the following valuation hierarchy in measuring the fair values of its assets and liabilities:

•

Level 1 – Quoted prices in active markets for identical assets and liabilities;

•

Level 3 – Unobservable inputs for the asset or liability, which are valued based on management’s estimates of assumptions that market participants would use in pricing the asset or liability.

Recent Accounting Pronouncements

Accounting Guidance Issued and Not Yet Adopted

Simplifying the Accounting for Income Taxes

Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Recently Adopted Accounting Guidance

Measurement of Credit Losses on Financial Instruments

Net Sales - Summary of Disaggregation of Net Sales by Geographical Region and Segment and Product Group (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	$ 4,969	$ 5,526	$ 6,638
North America [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	1,914	2,144	2,378
Asia Pacific [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	1,384	1,543	1,720
Europe, the Middle East, and Africa [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	1,086	1,163	1,685
Latin America [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	585	676	855
Topic 606 [Member] \| Transferred at a Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	4,969	5,526	6,638
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| North America [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	1,914	2,144	2,378
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| North America [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	776	727	894
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| North America [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	520	592	619
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| North America [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	407	512	524
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| North America [Member] \| Chemical Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	211	313	341
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Asia Pacific [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	1,384	1,543	1,720
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Asia Pacific [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	778	809	964
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Asia Pacific [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	134	166	160
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Asia Pacific [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	450	507	515
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Asia Pacific [Member] \| Chemical Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	22	61	81
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	1,086	1,163	1,685
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	528	474	842
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	331	408	555
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	202	258	270
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member] \| Chemical Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	25	23	18
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Latin America [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	585	676	855
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Latin America [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	320	335	474
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Latin America [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	120	152	163
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Latin America [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	45	53	56
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Latin America [Member] \| Chemical Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	100	136	162
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Titanium Dioxide and Other Minerals [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	2,402	2,345	3,174
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Refrigerants [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	889	1,086	1,238
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Foam, Propellants, and Other [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	216	232	259
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Fluoropolymers and Advanced Materials [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	1,104	1,330	1,365
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Mining Solutions [Member] \| Chemical Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	203	268	289
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Performance Chemicals and Intermediates [Member] \| Chemical Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	$ 155	$ 265	$ 313

Background and Description of the Business - Narrative (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2020 segment facility	Dec. 31, 2020 segment facility
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	4	4
Number of facilities	30	30
Operating Segments [Member]
Segment Reporting Information [Line Items]
Number of facilities	3	3
Titanium Technologies [Member]
Segment Reporting Information [Line Items]
Number of facilities	8	8
Thermal & Specialized Solutions [Member]
Segment Reporting Information [Line Items]
Number of facilities	8	8
Advanced Performance Materials [Member]
Segment Reporting Information [Line Items]
Number of facilities	10	10
Chemical Solutions [Member]
Segment Reporting Information [Line Items]
Number of facilities	1	1

Debt - Other - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
Debt - Other - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Remaining other short-term borrowings payable				$ 6
Financing Arrangement [Member]
Line of Credit Facility [Line Items]
Funds borrowed for insurance premiums	$ 16	$ 11
Repayments to financing company			$ 16
Remaining other short-term borrowings payable				$ 6

Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Note 22. Commitments and Contingent Liabilities

Asset Retirement Obligations

Chemours has recorded asset retirement obligations, which are inclusive of costs related to closure, reclamation, and removal for mining operations in the production of TiO₂ in the Titanium Technologies segment; cap, cover, and post-closure maintenance of landfills in all segments; and, shipment and disposal of stored waste in all segments.

The following table sets forth the activity in the Company’s asset retirement obligations for the years ended December 31, 2020 and 2019.

	Year Ended December 31,
	2020			2019
Balance at January 1,	$	76		$	66
Obligations incurred or acquired		12			5
(Decrease) increase in estimated cash outflows		(14	)		4
Accretion expense		4			4
Settlements and payments		(2	)		(3	)
Balance at December 31,	$	76		$	76

Current portion	$	13		$	7
Non-current portion		63			69

Litigation Overview

In addition to the matters discussed below, the Company and certain of its subsidiaries, from time to time, are subject to various lawsuits, claims, assessments, and proceedings with respect to product liability, intellectual property, personal injury, commercial, contractual, employment, governmental, environmental, anti-trust, and other such matters that arise in the ordinary course of business. In addition, Chemours, by virtue of its status as a subsidiary of EID prior to the Separation, is subject to or required under the Separation-related agreements executed prior to the Separation to indemnify EID against various pending legal proceedings. It is not possible to predict the outcomes of these various lawsuits, claims, assessments, or proceedings. Except as noted below, while management believes it is reasonably possible that Chemours could incur losses in excess of the amounts accrued, if any, for the aforementioned proceedings, it does not believe any such loss would have a material impact on the Company’s consolidated financial position, results of operations, or cash flows. Disputes between Chemours and EID may arise regarding indemnification matters, including disputes based on matters of law or contract interpretation. Should disputes arise, they could materially adversely affect Chemours.

In January 2021, Chemours, DuPont, Corteva, and EID, a subsidiary of Corteva, entered into a binding Memorandum of Understanding (the “MOU”), reflecting the parties’ agreement to share potential future legacy liabilities relating to per- and polyfluoroalkyl substances (“PFAS”) arising out of pre-July 1, 2015 conduct (i.e., “Indemnifiable Losses”, as defined in the separation agreement, dated as of June 26, 2015, as amended, between EID and Chemours (the “Separation Agreement”)) until the earlier to occur of: (i) December 31, 2040; (ii) the day on which the aggregate amount of Qualified Spend is equal to $4,000; or, (iii) a termination in accordance with the terms of the MOU (e.g., non-performance of the escrow funding requirements pursuant to the MOU by any party). As defined in the MOU, Qualified Spend includes:

•

All Indemnifiable Losses (as defined in the Separation Agreement), including punitive damages, to the extent relating to, arising out of, by reason of, or otherwise in connection with PFAS Liabilities as defined in the MOU (including any mutually agreed-upon settlements);

•

Any costs or amounts to abate, remediate, financially assure, defend, settle, or otherwise pay for all pre-July 1, 2015 PFAS Liabilities or exposure, regardless of when those liabilities are manifested; includes Natural Resources Damages claims associated with PFAS Liabilities;

•

Fines and/or penalties from governmental agencies for legacy EID PFAS emissions or discharges prior to the spin-off; and,

•

Site-Related GenX Claims as defined in the MOU.

The parties have agreed that, during the term of the cost-sharing arrangement, Chemours will bear half of the cost of such future potential legacy PFAS liabilities, and DuPont and Corteva will collectively bear the other half of the cost of such future potential legacy PFAS liabilities. Any recoveries of Qualified Spend from DuPont and/or Corteva under the cost-sharing arrangement will be recognized as an offset to the Company’s cost of goods sold or selling, general, and administrative expense, as applicable, when realizable. Any Qualified Spend incurred by DuPont and/or Corteva under the cost-sharing arrangement will be recognized in the Company’s cost of goods sold or selling, general, and administrative expense, as applicable, when the amounts of such costs are probable and estimable. After the term of this arrangement, Chemours’ indemnification obligations under the Separation Agreement would continue unchanged, subject in each case to certain exceptions set out in the MOU. Pursuant to the terms of the MOU, the parties have agreed to release certain claims regarding Chemours’ Delaware lawsuit and pending confidential arbitration (concerning the indemnification of specified liabilities that EID assigned to Chemours in its spin-off), including that Chemours has released any claim set forth in the complaint filed in the Delaware lawsuit, any other similar claims arising out of or resulting from the facts recited by Chemours in the complaint or the process and manner in which EID structured or conducted the spin-off, and any other claims that challenge the spin-off or the assumption of Chemours Liabilities (as defined in the Separation Agreement) by Chemours and the allocation thereof, subject in each case to certain exceptions set out in the MOU. The parties have further agreed not to bring any future, additional claims regarding the Separation Agreement or the MOU outside of arbitration.

In order to support and manage the payments for potential future PFAS liabilities, the parties have also agreed to establish an escrow account. The MOU provides that: (i) no later than each of September 30, 2021 and September 30, 2022, Chemours shall deposit $100 into an escrow account and DuPont and Corteva shall together deposit $100 in the aggregate into an escrow account, and (ii) no later than September 30 of each subsequent year through and including 2028, Chemours shall deposit $50 into an escrow account and DuPont and Corteva shall together deposit $50 in the aggregate into an escrow account. Subject to the terms and conditions set forth in the MOU, each party may be permitted to defer funding in any year (excluding 2021). Additionally, if on December 31, 2028, the balance of the escrow account (including interest) is less than $700, Chemours will make 50% of the deposits and DuPont and Corteva together will make 50% of the deposits necessary to restore the balance of the escrow account to $700. Such payments will be made in a series of consecutive annual equal installments commencing on September 30, 2029 pursuant to the escrow account replenishment terms as set forth in the MOU. Any funds that remain in escrow at termination of the MOU will revert to the party that deposited them. As such, future payments made by the Company into the escrow account will remain an asset of Chemours, and such payments will be reflected as a transfer to restricted cash on its consolidated balance sheets. No withdrawals are permitted from the escrow account before January 2026, except for funding mutually agreed-upon third-party settlements in excess of $125. Starting in January 2026, withdrawals may be made from the escrow account to fund Qualified Spend if the parties’ aggregate Qualified Spend in that particular year is greater than $200. Starting in January 2031, the amounts in the escrow account can be used to fund any Qualified Spend. Future payments from the escrow account for potential future PFAS liabilities will be reflected on the Company’s consolidated statement of cash flows at that point in time.

The parties will cooperate in good faith to enter into additional agreements reflecting the terms set forth in the MOU prior to February 28, 2021.

The Company accrues for litigation matters when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Where the available information is only sufficient to establish a range of probable liability, and no point within the range is more likely than any other, the lower end of the range has been used. When a material loss contingency is reasonably possible, but not probable, we do not record a liability, but instead disclose the nature of the matter and an estimate of the loss or range of loss, to the extent such estimate can be made. Legal costs such as outside counsel fees and expenses are recognized in the period in which the expense was incurred. Management believes the Company’s litigation accruals are appropriate based on the facts and circumstances for each matter, which are discussed in further detail below.

The following table sets forth the components of the Company’s accrued litigation at December 31, 2020 and 2019.

	December 31,
	2020		2019
Asbestos	$	34	$	34
PFOA (1)		50	20
All other matters		4	6
Total accrued litigation	$	88	$	60

(1)

At December 31, 2020, PFOA includes $29 associated with the Company’s portion of the costs to settle PFOA multi-district litigation in Ohio.

The following table sets forth the current and long-term components of the Company’s accrued litigation and their balance sheet locations at December 31, 2020 and 2019.

		December 31,
	Balance Sheet Location	2020		2019
Accrued Litigation:
Current accrued litigation (1)	Other accrued liabilities (Note 19)	$	37	$	10
Long-term accrued litigation	Other liabilities (Note 21)		51		50
Total accrued litigation		$	88	$	60

(1)

At December 31, 2020, current accrued litigation includes $29 associated with the Company’s portion of the costs to settle PFOA multi-district litigation in Ohio.

Fayetteville Works, Fayetteville, North Carolina

For information regarding the Company’s ongoing litigation and environmental remediation matters at its Fayetteville Works site in Fayetteville, North Carolina (“Fayetteville”), refer to “Fayetteville Works, Fayetteville, North Carolina” under the “Environmental Overview” within this “Note 22 – Commitments and Contingent Liabilities”.

Asbestos

In the Separation, EID assigned its asbestos docket to Chemours. At December 31, 2020 and 2019, there were approximately 1,100 lawsuits pending against EID alleging personal injury from exposure to asbestos. These cases are pending in state and federal court in numerous jurisdictions in the U.S. and are individually set for trial. A small number of cases are pending outside of the U.S. Most of the actions were brought by contractors who worked at sites between the 1950s and the 1990s. A small number of cases involve similar allegations by EID employees or household members of contractors or EID employees. Finally, certain lawsuits allege personal injury as a result of exposure to EID products.

At December 31, 2020 and 2019, Chemours had an accrual of $34 related to these matters.

Benzene

In the Separation, EID assigned its benzene docket to Chemours. At December 31, 2020 and 2019, there were 17 and 16 cases pending against EID alleging benzene-related illnesses, respectively. These cases consist of premises matters involving contractors and deceased former employees who claim exposure to benzene while working at EID sites primarily in the 1960s through the 1980s, and product liability claims based on alleged exposure to benzene found in trace amounts in aromatic hydrocarbon solvents used to manufacture EID products such as paints, thinners, and reducers.

Management believes that a loss is reasonably possible as to the docket as a whole; however, given the evaluation of each benzene matter is highly fact-driven and impacted by disease, exposure, and other factors, a range of such losses cannot be reasonably estimated at this time.

PFOA

Chemours does not, and has never, used “PFOA” (collectively, perfluorooctanoic acids and its salts, including the ammonium salt) as a polymer processing aid and/or sold it as a commercial product. Prior to the Separation, the performance chemicals segment of EID made PFOA at Fayetteville and used PFOA as a processing aid in the manufacture of fluoropolymers and fluoroelastomers at certain sites, including: Washington Works, Parkersburg, West Virginia; Chambers Works, Deepwater, New Jersey; Dordrecht Works, Netherlands; Changshu Works, China; and, Shimizu, Japan. These sites are now owned and/or operated by Chemours.

At December 31, 2020 and 2019, Chemours maintained accruals of $21 and $20, respectively, related to PFOA matters under the Leach Settlement, EID’s obligations under agreements with the U.S. Environmental Protection Agency (“EPA”), and voluntary commitments to the New Jersey Department of Environmental Protection (“NJ DEP”). These obligations and voluntary commitments include surveying, sampling, and testing drinking water in and around certain Company sites, and offering treatment or an alternative supply of drinking water if tests indicate the presence of PFOA in drinking water at or greater than the state or the national health advisory. The Company will continue to work with the EPA and other authorities regarding the extent of work that may be required with respect to these matters.

Leach Settlement

In 2004, EID settled a class action captioned Leach v. DuPont, filed in West Virginia state court, alleging that approximately 80,000 residents living near the Washington Works facility had suffered, or may suffer, deleterious health effects from exposure to PFOA in drinking water. Among the settlement terms, EID funded a series of health studies by an independent science panel of experts (“C8 Science Panel”) to evaluate available scientific evidence on whether any probable link exists, as defined in the settlement agreement, between exposure to PFOA and disease.

The C8 Science Panel found probable links, as defined in the settlement agreement, between exposure to PFOA and pregnancy-induced hypertension, including preeclampsia, kidney cancer, testicular cancer, thyroid disease, ulcerative colitis, and diagnosed high cholesterol. Under the terms of the settlement, EID is obligated to fund up to $235 for a medical monitoring program for eligible class members and pay the administrative costs associated with the program, including class counsel fees. The court-appointed Director of Medical Monitoring implemented the program, and testing is ongoing with associated payments to service providers disbursed from an escrow account which the Company replenishes pursuant to the settlement agreement. As of December 31, 2020, approximately $1.7 has been disbursed from escrow related to medical monitoring. While it is reasonably possible that the Company will incur additional costs related to the medical monitoring program, such costs cannot be reasonably estimated due to uncertainties surrounding the level of participation by eligible class members and the scope of testing.

In addition, under the Leach settlement agreement, EID must continue to provide water treatment designed to reduce the level of PFOA in water to six area water districts and private well users. At Separation, this obligation was assigned to Chemours, and $21 and $20 was accrued for these matters at December 31, 2020 and 2019, respectively.

PFOA Leach Class Personal Injury

Further, under the Leach settlement, class members may pursue personal injury claims against EID only for those diseases for which the C8 Science Panel determined a probable link exists. Approximately 3,500 lawsuits were subsequently filed in various federal and state courts in Ohio and West Virginia and consolidated in multi-district litigation (“MDL”) in Ohio federal court. These were resolved in March 2017 when EID entered into an agreement settling all MDL cases and claims, including all filed and unfiled personal injury cases and claims that were part of the plaintiffs’ counsel’s claims inventory, as well as cases tried to a jury verdict (the “First MDL Settlement”) for $670.7 in cash, with half paid by Chemours, and half paid by EID.

Concurrently with the First MDL Settlement, EID and Chemours agreed to a limited sharing of potential future PFOA costs (i.e., “Indemnifiable Losses”, as defined in the Separation Agreement between EID and Chemours) for a period of five years. During that five-year period, Chemours would annually pay future PFOA costs up to $25 and, if such amount was exceeded, EID would pay any excess amount up to the next $25 (which payment will not be subject to indemnification by Chemours), with Chemours annually bearing any further excess costs under the terms of the Separation Agreement. After the five-year period, this limited sharing agreement would expire, and Chemours’ indemnification obligations under the Separation Agreement would continue unchanged. Chemours also agreed that it would not contest its indemnification obligations to EID under the Separation Agreement for PFOA costs on the basis of defenses generally applicable to the indemnification provisions under the Separation Agreement, including defenses relating to punitive damages, fines or penalties, or attorneys’ fees, and waived any such defenses with respect to PFOA costs. Chemours, however, retained other defenses, including as to whether any particular PFOA claim was within the scope of the indemnification provisions of the Separation Agreement. The cost-sharing agreement entered concurrently with the First MDL Settlement has been superseded by the binding MOU addressing certain PFAS matters and costs as detailed in “Note 22 – Commitments and Contingent Liabilities”.

While all MDL lawsuits were dismissed or resolved through the First MDL Settlement, the First MDL Settlement did not resolve PFOA personal injury claims of plaintiffs who did not have cases or claims in the MDL or personal injury claims based on diseases diagnosed after February 11, 2017. Approximately 96 plaintiffs filed matters after the First MDL Settlement. In January 2021, EID and Chemours entered into settlement agreements with counsel representing these plaintiffs, providing for a settlement of all but one of the 96 filed and pending cases, as well as additional pre-suit claims, under which those cases and claims of settling plaintiffs will be resolved for approximately $83 (the “Second MDL Settlement”). Chemours will contribute approximately $29, and DuPont and Corteva will each contribute approximately $27 to the Second MDL Settlement. At December 31, 2020, Chemours has accrued approximately $29 associated with this matter, which it will pay once the settlements are finalized. The settlements are expected to be finalized in the first quarter of 2021.

The single matter not included in the Second MDL Settlement is a testicular cancer case tried in March 2020 to a verdict of $40 in compensatory and emotional distress damages and $10 in loss of consortium damages. The jury found that EID’s conduct did not warrant punitive damages. The Company will appeal the verdict. Management believes that the probability of a loss regarding the verdict is remote, given numerous meritorious grounds for pending post-trial motions and appeal.

State of Ohio

In February 2018, the State of Ohio initiated litigation against EID regarding historical PFOA emissions from the Washington Works site. Chemours is an additional named defendant. Ohio alleges damage to natural resources and fraudulent transfer in the spin-off that created Chemours and seeks damages including remediation and other costs and punitive damages.

PFAS

EID and Chemours have received governmental and regulatory inquiries and have been named in other litigations, including class actions, brought by individuals, municipalities, businesses, and water districts alleging exposure to and/or contamination from PFAS, including PFOA. Many actions include an allegation of fraudulent transfer in the spin-off that created Chemours. Chemours has declined EID’s requests for indemnity for fraudulent transfer claims.

Chemours has responded to letters and inquiries from governmental law enforcement entities regarding PFAS, including, in January 2020, a letter informing it that the U.S. Department of Justice, Consumer Protection Branch, and the United States Attorney’s Office for the Eastern District of Pennsylvania are considering whether to open a criminal investigation under the Federal Food, Drug, and Cosmetic Act and asking that it retain its documents regarding PFAS and food contact applications. In July 2020, Chemours received a grand jury subpoena for documents. We are presently unable to predict the duration, scope, or result of any potential governmental, criminal, or civil proceeding that may result, the imposition of fines and penalties, and/or other remedies. We are also unable to develop a reasonable estimate of a possible loss or range of losses, if any.

Aqueous Film Forming Foam Matters

Chemours does not, and has never, manufactured aqueous film forming foam (“AFFF”). Numerous defendants, including EID and Chemours, have been named in approximately 900 matters, involving AFFF, which is used to extinguish hydrocarbon-based (i.e., Class B) fires and subject to U.S. military specifications. Most matters have been transferred to or filed directly into a multi-district litigation (“AFFF MDL”) in South Carolina federal court or identified by a party for transfer. The matters pending in the AFFF MDL allege damages as a result of contamination, in most cases due to migration from military installations or airports, or personal injury from exposure to AFFF. Plaintiffs seek to recover damages for investigating, monitoring, remediating, treating, and otherwise responding to the contamination. Others have claims for personal injury, property diminution, and punitive damages.

There are AFFF lawsuits pending outside the AFFF MDL that have not been designated by a party for inclusion in the MDL. These matters identifying EID and/or Chemours as a defendant are:

Valero Refining (“Valero”) has five pending state court lawsuits filed commencing in June 2019 regarding its Tennessee, Texas, Oklahoma, California, and Louisiana facilities. These lawsuits allege that several defendants that designed, manufactured, marketed, and/or sold AFFF or PFAS incorporated into AFFF have caused Valero to incur damages and costs including remediation, AFFF disposal, and replacement. Valero also alleges fraudulent transfer.

In September 2019, a lawsuit alleging personal injury resulting from exposure to AFFF in Long Island drinking water was filed by four individuals in New York state court. Plaintiffs also allege violation of New York Uniform Fraudulent Conveyance Act and seek compensatory and punitive damages, and medical monitoring. 

State Natural Resource Damages Matters

In addition to the State of New Jersey actions (as detailed below) and the State of Ohio action (as detailed above), the states of Vermont, New Hampshire, New York, Michigan, North Carolina, and Mississippi have filed lawsuits against defendants, including EID and Chemours, relating to the alleged contamination of state natural resources with PFAS compounds either from AFFF and/or other sources. These lawsuits seek damages including costs to investigate, clean up, restore, treat, monitor, or otherwise respond to contamination to natural resources. The lawsuits include counts for fraudulent transfer.

Other PFAS Matters

EID has also been named in approximately 50 lawsuits pending in New York courts, which are not part of the Leach class, brought by individual plaintiffs alleging negligence and other claims in the release of PFAS, including PFOA, into drinking water, and seeking medical monitoring, compensatory, and punitive damages against current and former owners and suppliers of a manufacturing facility in Hoosick Falls, New York. Two other lawsuits in New York have been filed by a business seeking to recover its losses and by nearby property owners and residents in a putative class action seeking medical monitoring, compensatory and punitive damages, and injunctive relief.

In May 2017, the Water Works and Sewer Board of the Town of Centre, Alabama filed suit against numerous carpet manufacturers located in Dalton, Georgia and suppliers and former suppliers, including EID, in Alabama state court. The complaint alleges negligence, nuisance, and trespass in the release of PFAS, including PFOA, into a river leading to the town’s water source, and seeks compensatory and punitive damages.

In February 2018, the New Jersey-American Water Company, Inc. (“NJAW”) filed suit against EID and Chemours in New Jersey federal court alleging that discharges in violation of the New Jersey Spill Compensation and Control Act (“Spill Act”) were made into groundwater utilized in the NJAW Penns Grove water system. NJAW alleges that damages include costs associated with remediating, operating, and maintaining its system, and attorney fees. In October 2020, this matter was transferred to the AFFF MDL.

In October 2018, a putative class action was filed in Ohio federal court against 3M, EID, Chemours, and other defendants seeking class action status for U.S. residents having a detectable level of PFAS in their blood serum. The complaint seeks declaratory and injunctive relief, including the establishment of a “PFAS Science Panel”.

In December 2018, the owners of a dairy farm filed a lawsuit in Maine state court against numerous defendants including EID and Chemours alleging that their dairy farm was contaminated by PFAS, including perfluorooctanesulfonic acid (“PFOS”) and PFOA present in treated municipal sewer sludge used in agricultural spreading applications on their farm. The complaint asserts negligence, trespass, and other tort and state statutory claims and seeks damages.

In May 2019, a putative class action was filed in Delaware state court against two electroplating companies, 3M and EID, alleging responsibility for PFAS contamination, including PFOA and PFOS, in drinking water and the environment in the nearby community. Although initially named in the lawsuit, Chemours was subsequently dismissed. The putative class of residents alleges negligence, nuisance, trespass, and other claims and seeks medical monitoring, personal injury and property damages, and punitive damages. The matter was removed to federal court.

Since August 2019, 11 Long Island water suppliers have filed lawsuits in New York federal court against defendants including EID and Chemours regarding alleged PFAS, PFOA, and PFOS contamination through releases from industrial and manufacturing facilities and business locations where PFAS-contaminated water was used for irrigation and sites where consumer products were disposed.  The complaints allege products liability, negligence, nuisance, trespass, and fraudulent transfer.  Plaintiffs seek declaratory and injunctive relief, as well as compensatory and punitive damages.

Since November 2019, two lawsuits representing approximately 35 residents have been filed against EID, Chemours, and other defendants alleging that they are responsible for PFAS contamination, including PFOA and PFOS, in groundwater and drinking water. Plaintiffs have claims including medical monitoring, property value diminution, trespass, and punitive damages. The lawsuits are pending in New Jersey federal court.

In November 2019, the City of Rome, Georgia filed suit against numerous carpet manufacturers located in Dalton, Georgia, suppliers, EID, and Chemours in Georgia state court alleging negligence, nuisance, and trespass in the release of perfluorinated compounds, including PFOA, into a river leading to the town’s water source. City of Rome alleges damages to property and lost profits, and expenses for abatement and remediation and punitive damages.

In December 2019, a putative class action was filed in Georgia state court on behalf of customers of the Rome, Georgia water division and the Floyd County, Georgia water department against numerous carpet manufacturers located in Dalton, Georgia, suppliers, EID, and Chemours in Georgia state court alleging negligence and nuisance and related to the release of perfluorinated compounds, including PFOA, into a river leading to their water sources. The matter was removed to federal court. Damages sought include compensatory damages for increased water surcharges, as well as punitive damages and injunctive relief for abatement and remediation.

In May 2020, the Weirton Area Water Board and City of Weirton, West Virginia, filed a lawsuit in West Virginia state court against defendants, including EID and Chemours, alleging PFAS, PFOA, and PFOS contamination through releases from the manufacture, sale, and use of PFAS and from facilities owned by AccelorMittal. Damages sought include declaratory relief, economic damages, indemnification, expenses, remediation, and punitive damages. The matter has been removed to federal court. In January 2021, this matter was transferred to the AFFF MDL.

Since July 2020, three lawsuits have been filed in New Jersey federal court by parents of two adult children alleging that exposure to PFAS, including pre-natal exposure, resulted in the children’s cognitive delays, neurological, genetic, and autoimmune conditions. Plaintiffs claim compensatory and punitive damages.

In September 2020, the Golden State Water Company filed a lawsuit in California federal court against several defendants, including EID and Chemours, alleging manufacturers of PFOA and PFOS are responsible for contaminating the drinking water supply. The complaint alleged products liability, negligence, nuisance, trespass, and fraudulent transfer. Plaintiff sought injunctive relief, as well as compensatory and punitive damages. In January 2021, the court dismissed the complaint on defendants’ motion regarding jurisdiction grounds.

In December 2020, Suez Water New Jersey and Suez Water New York filed lawsuits in New Jersey and New York federal courts against defendants, including EID and Chemours, alleging damages from PFAS releases into the environment, including PFOA and PFOS, that impacted water sources that the utilities use to provide water. The complaints allege products liability, negligence, nuisance, and trespass. Plaintiffs seek monetary damages, including present and future compliance costs for the respective state-adopted PFAS maximum contaminant levels for public water systems.

In December 2020, 11 southern California public water systems filed a lawsuit in California federal court against several defendants, including EID and Chemours, alleging manufacturers of PFOA and PFOS are responsible for contaminating the drinking water supply. The complaint alleges products liability, negligence, nuisance, trespass, state law claims, and fraudulent transfer. Plaintiffs seek injunctive relief, as well as compensatory and punitive damages.

New Jersey Department of Environmental Protection Directives and Litigation

In March 2019, the NJ DEP issued two Directives and filed four lawsuits against Chemours and other defendants. The Directives are: (i) a state-wide PFAS Directive issued to EID, DowDuPont, DuPont Specialty Products USA (“DuPont SP USA”), Solvay S.A., 3M, and Chemours seeking a meeting to discuss future costs for PFAS-related costs incurred by the NJ DEP and establishing a funding source for such costs by the Directive recipients, and information relating to historic and current use of certain PFAS compounds; and, (ii) a Pompton Lakes Natural Resources Damages (“NRD”) Directive to EID and Chemours demanding $0.1 to cover the cost of preparation of a natural resource damage assessment plan and access to related documents.

The lawsuits filed in New Jersey state courts by the NJ DEP are: (i) in Salem County, against EID, 3M, and Chemours primarily alleging clean-up and removal costs and damages and natural resource damages under the Spill Act, the Water Pollution Control Act (“WPCA”), the Industrial Site Recovery Act (“ISRA”), and common law regarding past and present operations at Chambers Works, a site assigned to Chemours at Separation; (ii) in Middlesex County, against EID, DuPont SP USA, 3M, and Chemours primarily alleging clean-up and removal costs and damages and natural resource damages under the Spill Act, ISRA, WPCA, and common law regarding past and present operations at Parlin, an EID owned site; (iii) in Gloucester County, against EID and Chemours primarily alleging clean-up and removal costs and damages and natural resource damages under the Spill Act, WPCA, and common law regarding past operations at Repauno, a non-operating remediation site assigned to Chemours at Separation which has been sold; and, (iv) in Passaic County, against EID and Chemours primarily alleging clean-up and removal costs and damages and natural resource damages under the Spill Act, WPCA, and common law regarding past operations at Pompton Lakes, a non-operating remediation site assigned to Chemours at Separation. The alleged pollutants listed in the Salem County and Middlesex County matters above include PFAS. Each lawsuit also alleges fraudulent transfer.

In August 2020, a Second Amended Complaint was filed in each matter, adding fraudulent transfer and other claims against DuPont SP USA, Corteva, and DuPont. For the Salem County matter, NJ DEP added claims relating to failure to comply with state directives, including the state-wide PFAS Directive.

The matters were removed to federal court and consolidated for case management and pretrial purposes.

EID requested that Chemours defend and indemnify it in these matters. Chemours has accepted the indemnity and defense of EID while reserving rights and declining EID’s demand as to matters involving other EID entities, as well as ISRA and fraudulent transfer pursuant to the terms of the MOU.

PFOA and PFAS Summary

With the exception of the trial verdict in the testicular cancer case noted above, management believes that it is reasonably possible that the Company could incur losses related to PFOA (in addition to the Second MDL Settlement) and/or PFAS matters in excess of amounts accrued, but any such losses are not estimable at this time due to various reasons, including, among others, that such matters are in their early stages and have significant factual issues to be resolved.

U.S. Smelter and Lead Refinery, Inc.

There are six lawsuits, including a putative class action, pending against EID by area residents concerning the U.S. Smelter and Lead Refinery multi-party Superfund site in East Chicago, Indiana. Several of the lawsuits allege that Chemours is now responsible for EID environmental liabilities. The lawsuits include allegations for personal injury damages, property diminution, and other damages. At Separation, EID assigned Chemours its former plant site, which is located south of the residential portion of the Superfund area, and its responsibility for the environmental remediation at the Superfund site. Management believes a loss is reasonably possible, but not estimable at this time due to various reasons including, among others, that such matters are in their early stages and have significant factual issues to be resolved.

Securities Litigation

In October 2019, a putative class action was filed in Delaware federal court against Chemours and certain of its officers. Following appointment of lead plaintiff, the New York State Teachers’ Retirement System, and counsel, the plaintiff filed an amended complaint alleging that the defendants violated the Securities and Exchange Act of 1934 by making materially false and misleading statements and omissions in public disclosures regarding environmental liabilities and litigation matters assigned to Chemours in connection with its spin-off from EID. The amended complaint seeks a class of purchasers of Chemours stock between February 16, 2017 and August 1, 2019 and demands compensatory damages and fees.

Commencing in July 2020, follow-on derivative lawsuits were filed by individual shareholders in Delaware courts against Chemours, its directors, and certain of its officers. The lawsuits rely on factual allegations similar to those in the securities action discussed above and allege breach of fiduciary duty and other claims.

Management believes that it is not possible at this time to reasonably assess the outcome of these litigations or to estimate the loss or range of loss, if any, as the matters are in the early stages with significant issues to be resolved. The Company believes that it has applicable insurance, and coverage has been accepted by the primary insurance carrier with a reservation of rights for the putative class action matter. If the Company were not to prevail in the litigations and were to fail to secure insurance coverage or ample insurance coverage, the impact could be material to the Company’s results of operations, financial position, and cash flows.

Mining Solutions Facility Construction Stoppage

The Company is currently in the process of constructing a new Mining Solutions facility in Gomez Palacio, Durango, Mexico. In connection with the facility:

•

In August 2017, a lawsuit was filed by several residents of Durango, Mexico against the government authority involved in granting the Company’s environmental permit for the facility. Construction was not suspended in this matter, and the Company has responded to the complaint. In October 2020, an Administrative Federal Tribunal in Mexico City, Mexico nullified the existing environmental permit and requested its amendment, including details regarding the handling, storage, and offloading of ammonia at our facility. The Company has filed an appeal and will follow an administrative procedure to resolve this matter.

•

In March 2018, a civil association in Mexico filed a complaint against the government authorities involved in the permitting process of the facility. The claimant sought and obtained a suspension from the district judge to stop the Company’s construction work. The suspension was subsequently lifted on appeal and affirmed by the Supreme Court of Mexico. A second similar complaint was filed in September 2019, and again, a suspension of construction was granted. The Company has filed an appeal, for which it expects to receive a ruling in 2021.

In connection with the construction work at the site, the Company had previously entered into an agreement with a third-party services provider. In the fourth quarter of 2020, the Company entered into dispute resolution with the third-party services provider, resulting in a $26 charge related to contract termination fees, as well as immediate recognition of $11 of other related prepaid costs. At December 31, 2020, the Company had $146 of long-lived assets under construction at the facility. The Company ultimately believes that it will be successful in obtaining its permits and will continue with its planned development of the site. While the Company currently believes these amounts are recoverable, an unfavorable ruling by the Mexican courts on its appeals could lead to a fixed asset impairment assessment that potentially impairs all or a portion of the facility, resulting in a non-cash charge in the Company’s results of operations at that time.

Ore Feedstock Contract Dispute

In July 2020, Iluka Resources Limited, one of the Company’s suppliers of ore feedstock, commenced breach of contract proceedings against the Company in New York state court. Management believes that the lawsuit lacks merit, and that the Company’s actions have been consistent with its rights under the provisions of the contract. The outcome of this matter is not expected to have a material impact on the Company’s results of operations or financial position, and management does not anticipate any impact on the Company’s supply of ore feedstock.

Environmental Overview

Chemours, due to the terms of the Separation-related agreements with EID, is subject to contingencies pursuant to environmental laws and regulations that in the future may require further action to correct the effects on the environment of prior disposal practices or releases of chemical substances, which are attributable to EID’s activities before it spun-off Chemours. Much of this liability results from the Comprehensive Environmental Response Compensation and Liability Act (“CERCLA”, often referred to as “Superfund”), the Resource Conservation and Recovery Act (“RCRA”), and similar federal, state, local, and foreign laws. These laws require Chemours to undertake certain investigative, remediation, and restoration activities at sites where Chemours conducts or once conducted operations or at sites where Chemours-generated waste was disposed. The accrual also includes estimated costs related to a number of sites identified for which it is probable that environmental remediation will be required, but which are not currently the subject of enforcement activities.

Chemours accrues for remediation activities when it is probable that a liability has been incurred and a reasonable estimate of the liability can be made. Where the available information is sufficient to estimate the amount of liability, that estimate has been used. Where the available information is only sufficient to establish a range of probable liability, and no point within the range is more likely than any other, the lower end of the range has been used. Estimated liabilities are determined based on existing remediation laws and technologies and the Company’s planned remedial responses, which are derived from environmental studies, sampling, testing, and analyses. Inherent uncertainties exist in such evaluations, primarily due to unknown environmental conditions, changing governmental regulations regarding liability, and emerging remediation technologies. These accruals are adjusted periodically as remediation efforts progress and as additional technological, regulatory, and legal information becomes available. Environmental liabilities and expenditures include claims for matters that are liabilities of EID and its subsidiaries, which Chemours may be required to indemnify pursuant to the Separation-related agreements. These accrued liabilities are undiscounted and do not include claims against third parties. Costs related to environmental remediation are charged to expense in the period that the associated liability is accrued.

	December 31,
	2020		2019
Chambers Works, Deepwater, New Jersey	$	20	$	20
East Chicago, Indiana		11		17
Fayetteville Works, Fayetteville, North Carolina		194		201
Pompton Lakes, New Jersey		42		43
USS Lead, East Chicago, Indiana		12		13
All other sites		111		112
Total environmental remediation	$	390	$	406

The following table sets forth the current and long-term components of the Company’s environmental remediation liabilities and their balance sheet locations at December 31, 2020 and 2019.

		December 31,
	Balance Sheet Location	2020		2019
Environmental Remediation:
Current environmental remediation	Other accrued liabilities (Note 19)	$	95	$	74
Long-term environmental remediation	Other liabilities (Note 21)		295		332
Total environmental remediation		$	390	$	406

The time-frame for a site to go through all phases of remediation (investigation and active clean-up) may take about 15 to 20 years, followed by several years of operation, maintenance, and monitoring (“OM&M”) activities. Remediation activities, including OM&M activities, vary substantially in duration and cost from site to site. These activities, and their associated costs, depend on the mix of unique site characteristics, evolving remediation technologies, and diverse regulatory requirements, as well as the presence or absence of other potentially responsible parties. In addition, for claims that Chemours may be required to indemnify EID pursuant to the Separation-related agreements, Chemours, through EID, has limited available information for certain sites or is in the early stages of discussions with regulators. For these sites in particular, there may be considerable variability between the clean-up activities that are currently being undertaken or planned and the ultimate actions that could be required. Therefore, considerable uncertainty exists with respect to environmental remediation costs and, under adverse changes in circumstances, although deemed remote, the potential liability may range up to approximately $580 above the amount accrued at December 31, 2020.

For the years ended December 31, 2020, 2019, and 2018, Chemours incurred net environmental remediation expenses of $71, $200, and $101, respectively.

Fayetteville Works, Fayetteville, North Carolina

Fayetteville has been in operation since the 1970s and is located next to the Cape Fear River southeast of the City of Fayetteville, North Carolina. Hexafluoropropylene oxide dimer acid (“HFPO Dimer Acid”, sometimes referred to as “GenX” or “C3 Dimer Acid”) is manufactured at Fayetteville. The Company has operated the site since its Separation from EID in 2015.

The Company believes that discharges from Fayetteville to the Cape Fear River, site surface water, groundwater, and air emissions have not impacted the safety of drinking water in North Carolina. The Company is cooperating with a variety of ongoing inquiries and investigations from federal, state, and local authorities, regulators, and other governmental entities.

Consent Order with North Carolina Department of Environmental Quality (“NC DEQ”)

In September 2017, the NC DEQ issued a 60-day notice of intent to suspend the National Pollutant Discharge Elimination System (“NPDES”) permit for Fayetteville, and the State of North Carolina filed an action in North Carolina state court regarding site discharges, seeking a temporary restraining order and preliminary injunction, as well as other relief, including abatement and site correction. The state court entered a partial consent order resolving NC DEQ’s motion for a temporary restraining order.

In November 2017, NC DEQ informed the Company that it was suspending the NPDES permit for Fayetteville. The Company thereafter commenced the capture and separate disposal of all process wastewater from Fayetteville related to the Company’s own operations.

In June 2018, the North Carolina Legislature enacted legislation (i) granting the governor the authority, in certain circumstances, to require a facility with unauthorized PFAS discharges to cease operations, and (ii) granting the governor the authority, in certain circumstances, to direct the NC DEQ secretary to order a PFAS discharger to establish permanent replacement water supplies for parties whose water was contaminated by the discharge.

In July 2018, Cape Fear River Watch (“CFRW”), a non-profit organization, sued NC DEQ in North Carolina state court, seeking to require NC DEQ to take additional actions at Fayetteville. In August 2018, CFRW sued the Company in North Carolina federal court for alleged violations of the Clean Water Act (“CWA”) and the Toxic Substances Control Act (“TSCA”), seeking declaratory and injunctive relief and penalties.

In February 2019, the North Carolina Superior Court for Bladen County approved a Consent Order (“CO”) between NC DEQ, CFRW, and the Company, resolving the State’s and CFRW’s lawsuits and other matters (including Notices of Violation (“NOVs”) issued by the State). Under the terms of the CO, Chemours paid $13 in March 2019 to cover a civil penalty and investigative costs and agreed to certain compliance measures (with stipulated penalties for failures to do so), including the following:

•

Install a thermal oxidizer to control all PFAS in process streams from certain processes at Fayetteville at an efficiency of 99.99%;

•

Develop, submit, and implement, subject to approval from NC DEQ and CFRW, a plan for interim actions that are economically and technologically feasible to achieve the maximum PFAS reduction from Fayetteville to the Cape Fear River within a two-year period;

•

Develop and implement, subject to approval, a Corrective Action Plan that complies with North Carolina’s groundwater standards and guidance provided by NC DEQ. At a minimum, the Corrective Action Plan must require Chemours to reduce the total loading of PFAS originating from Fayetteville to surface water by at least 75% from baseline, as defined by the CO; and,

•

Provide and properly maintain permanent drinking water supplies, including via whole-building filtration units and reverse osmosis (“RO”) units to qualifying surrounding properties with private drinking water wells.

In August 2020, NC DEQ, CFRW, and the Company reached agreement on the terms of an addendum to the CO (the “Addendum”), which includes procedures for implementing specified remedial measures for reducing PFAS loadings from Fayetteville to the Cape Fear River. The Addendum also includes stipulated financial penalties, inclusive of daily and weekly fines for untimeliness in meeting deadlines for construction, installation, and other requirements, as well as intermittent performance-based fines for noncompliance in meeting PFAS loading reduction requirements and removal efficiency targets. After a period of public comment, the Addendum was approved by the North Carolina Superior Court for Bladen County on October 12, 2020. A Motion to Intervene filed by Cape Fear Public Utility Authority was denied.

The following table sets forth the on-site and off-site components of the Company’s accrued environmental remediation liabilities related to PFAS at Fayetteville at December 31, 2020 and 2019.

	December 31,
	2020		2019
On-site remediation	$	140	$	155
Off-site groundwater remediation		54		46
Total accrued liabilities	$	194	$	201

		December 31,
	Balance Sheet Location	2020		2019
Current accrued liabilities	Other accrued liabilities (Note 19)	$	39	$	20
Long-term accrued liabilities	Other liabilities (Note 21)		155		181
Total accrued liabilities		$	194	$	201

Emissions to air

Fayetteville operates multiple permitted air discharge stacks, blowers, and vents as part of its manufacturing activities. A thermal oxidizer (“TO”) became fully operational at the site on December 27, 2019, and Chemours switched to the permitted operating scenario for the TO on December 31, 2019 as set forth in the CO. The TO is designed to reduce aerial PFAS emissions from Fayetteville, and, on March 30, 2020, Chemours announced that testing results conducted in the first 90 days of operation show that the TO is controlling PFAS emissions at an average efficiency exceeding 99.999%. Testing was conducted by Chemours and monitored by the North Carolina Division of Air Quality (“NC DAQ”). Environmental costs are capitalized and subsequently depreciated if the costs extend the useful life of the property, increase the property’s capacity, and/or reduce or prevent contamination from future operations.

Off-site replacement drinking water supplies

The CO requires the Company to provide permanent replacement drinking water supplies, including via connection to public water supply, whole building filtration units and/or RO units, to qualifying surrounding residents, businesses, schools, and public buildings with private drinking water wells. Qualifying surrounding properties with private drinking water wells that have tested above the state provisional health goal of 140 parts per trillion (ppt) for GenX may be eligible for public water or a whole building filtration system. Qualifying surrounding properties with private drinking water wells that have tested above 10 ppt for GenX or other perfluorinated compounds (“Table 3 Compounds”) are eligible for three under-sink RO units. The Company provides bottled drinking water to a qualifying property when it becomes eligible for a replacement drinking water supply, and continues to provide delivery of bottled drinking water to the property until the eligible supply is established or installed. Under the terms of the CO, Chemours must make the offer to install a water treatment system to property owners in writing multiple times, and property owners have approximately one year to accept the Company’s offer before it expires.

The Company’s estimated liability for off-site replacement drinking water supplies is based on management’s assessment of the current facts and circumstances for this matter, which are subject to various assumptions that include, but are not limited to, the number of affected surrounding properties, response rates to the Company’s offer, the timing of expiration of offers made to the property owners, the type of water treatment systems selected (i.e., whole building filtration or RO units), the cost of the selected water treatment systems, and any related OM&M requirements, fines and penalties, and other charges contemplated by the CO. For off-site drinking water supplies, OM&M is accrued for 20 years on an undiscounted basis based on the Company’s current plans under the CO. For the years ended December 31, 2020 and 2019, the Company accrued $31 and $18, respectively, for off-site groundwater testing and water treatment system installations at additional qualifying third-party properties in the vicinity surrounding Fayetteville. The amount accrued during the year ended December 31, 2020 is net of $7 of changes in estimates related to the cost of installing, maintaining, and monitoring certain water treatment systems. During most of the second quarter of 2020, testing of drinking water wells and water treatment system installations were temporarily suspended in connection with health and safety precautions taken during the COVID-19 pandemic. Chemours resumed residential sampling and installation of water treatment systems in June 2020. Off-site installation, maintenance, and monitoring may be impacted by additional changes in estimates as actual experience may differ from management’s estimates. It is currently estimated that $54 of disbursements will be made for off-site groundwater remediation, consisting of off-site replacement drinking water supplies and OM&M over approximately 20 years, as well as toxicity studies over the next three years.

On-site surface water and groundwater remediation

Abatement and remediation measures already taken by Chemours, including the capture and separate disposal of its operations’ process wastewater and other interim actions, have addressed and abated nearly all PFAS discharges from the Company’s continuing operations at Fayetteville. However, the Company continues to have active dialogue with NC DEQ and other stakeholders regarding the potential remedies that are both economically and technologically feasible to achieve the CO objectives related to site surface water and groundwater.

In the fourth quarter of 2019, the Company completed and submitted its Cape Fear River PFAS Loading Reduction Plan - Supplemental Information Report and its Corrective Action Plan (“CAP”) to NC DEQ. The Supplemental Information Report provided information to support the evaluation of potential interim remedial options to reduce PFAS loadings to surface waters. The CAP described potential long-term remediation activities to address PFAS in on-site groundwater and surface waters at the site, in accordance with the requirements of the CO and the North Carolina groundwater standards, and built upon the previous submissions to NC DEQ. The NC DEQ received comments on the CAP during a public comment period, and the Company is awaiting formal response to the CAP from NC DEQ. With respect to the CO, the Addendum was approved by the North Carolina Superior Court for Bladen County on October 12, 2020 and establishes the procedure to implement specified remedial measures for reducing PFAS loadings from Fayetteville to the Cape Fear River, including construction of a barrier wall with groundwater extraction system to be completed by March 15, 2023. The Company is implementing measures under the Addendum, and it has commenced detailed engineering and design work for the barrier wall and groundwater extraction system with two stages of NC DEQ design approval to be completed in 2021 and 2022. Following issuance of an NPDES permit by NC DEQ on September 18, 2020, the Company began operation of a capture and treatment system for the Old Outfall 002 channel on September 30, 2020.

On January 26, 2021, the Company received an NOV from NC DEQ, alleging violations of the CO and an NPDES water permit arising from the design and operation of the Old Outfall 002 treatment system. NC DEQ has requested additional information with respect to the allegations. The Company is reviewing the NOV and will respond to the agency. Management believes that a loss is reasonably possible as to this NOV, but not estimable at this time.

The Company’s estimated liability for the remediation activities that are probable and estimable is based on the CO, the Addendum, the CAP, and management’s assessment of the current facts and circumstances, which are subject to various assumptions including the transport pathways (being pathways by which PFAS reaches the Cape Fear River) which will require remedial actions, the types of interim and permanent site surface water and on-site remedies and treatment systems selected and implemented, the estimated cost of such potential remedies and treatment systems, any related OM&M requirements, and other charges contemplated by the CO and the Addendum. The actual cost of a permanent on-site groundwater treatment system primarily depends on the determination of certain significant design details, notably the barrier wall location and installation method (i.e., slurry wall vs. steel sheets), configuration of extraction wells, estimated carbon usage, and water extraction rates. Pre-design investigation, detailed engineering design, and construction activities for the barrier wall and groundwater extraction system are already in progress at Fayetteville. It is anticipated that the pre-design investigation for the barrier wall and other remediation activities will be concluded in the first and second quarters of 2021, at which time the Company’s estimated liabilities will be updated accordingly.

Accordingly, based on the CO, the Addendum, the CAP, and management’s plans, which are based on current regulations and technology, the Company has accrued $140 at December 31, 2020 related to the estimated cost of on-site remediation, which is within the existing estimated range of potential outcomes, based on current potential remedial options, and projected to be paid over a period of approximately 20 years. The final costs of any selected remediation will depend primarily on the final approved design and actual labor and material costs. An incremental $5 was accrued in the fourth quarter of 2020, primarily related to remediation projects for which detailed engineering design was complete.

It is possible that issues relating to site discharges in various transport pathways, the selection of remediation alternatives to achieve PFAS loading reductions, or the operating effectiveness of the TO could result in further litigation and/or regulatory demands with regards to Fayetteville, including potential permit modifications or penalties under the CO and the Addendum. It is also possible that, as additional data is collected on the transport pathways and dialogue continues with NC DEQ and other stakeholders, the type or extent of remediation actions required to achieve the objectives committed to in the CO may change (increase or decrease) or remediation activities could be delayed. If such issues arise, or if the CO is further amended, an additional loss is reasonably possible, but not estimable at this time. With respect to the Addendum, at this time, the Company believes that payment of any of the stipulated financial penalties for untimeliness or noncompliance is remote.

Other matters related to Fayetteville

In February 2019, the Company received an NOV from the EPA, alleging certain TSCA violations at Fayetteville. Matters raised in the NOV could have the potential to affect operations at Fayetteville. For this NOV, the Company responded to the EPA in March 2019, asserting that the Company has not violated environmental laws. The Company also received an NOV in April 2020 from NC DEQ, alleging an air permit violation under the North Carolina Administrative Code. As of December 31, 2020, management does not believe that a loss is probable.

In June 2020, the Company received an NOV from the NC DEQ, alleging violations of the North Carolina Solid Waste Generator Requirements in connection with clearing land and yard waste materials to a landfill during construction of the water treatment plant required for remediation under the CO. The Company responded that it did not commit a violation and had addressed any concerns prior to issuance of the NOV. Management does not believe that a loss is probable.

In 2019, civil actions were filed against EID and Chemours in North Carolina federal court relating to discharges from Fayetteville. These actions include a consolidated action brought by public water suppliers seeking damages and injunctive relief, a consolidated purported class action seeking medical monitoring, and property damage and/or other monetary and injunctive relief on behalf of the putative classes of property owners and residents in areas near or that draw drinking water from the Cape Fear River, and two actions encompassing approximately 800 private well owners seeking compensatory and punitive damages. Ruling on the Company’s motions in April 2019, the court dismissed the medical monitoring, injunctive demand, and many other alleged causes of actions in these lawsuits. It is possible that additional litigation may be filed against the Company and/or EID concerning the discharges.

In addition to the natural resource damages matter filed by the State of North Carolina (as discussed within the “PFAS” section of this “Note 22 – Commitments and Contingent Liabilities”), in September 2020, three additional lawsuits were filed in North Carolina state court against Chemours and EID, as well as other defendants. One of the lawsuits is a putative class action on behalf of residents who are served by the Cape Fear Public Water utility, alleges negligence, nuisance, and other claims related to the release of perfluorinated compounds from Fayetteville, and seeks compensatory and punitive damages and medical monitoring. The other two lawsuits were filed on behalf of individuals residing near Fayetteville and allege negligence, nuisance, and other claims related to the release of perfluorinated compounds. The individuals seek compensatory property damages, punitive damages, and, in some cases, medical monitoring. All three lawsuits allege fraudulent transfer against EID and other EID entities, but not against Chemours. In October 2020, the cases were removed to federal court.

It is not possible at this point to predict the timing, course, or outcome of all governmental and regulatory inquiries and notices and litigation, and it is reasonably possible that these matters could have a material adverse effect on the Company’s financial position, results of operations, and cash flows. In addition, local communities, organizations, and federal and state regulatory agencies have raised questions concerning HFPO Dimer Acid and other perfluorinated and polyfluorinated compounds at certain other manufacturing sites operated by the Company. It is possible that additional developments similar to those described above and centering on Fayetteville could arise in other locations.

Sale of East Chicago, Indiana

On June 29, 2018, the Company sold its East Chicago, Indiana site to a third party for $1. In connection with the sale, the buyer had agreed to assume all costs associated with environmental remediation activities at the site in excess of $21, which remained the responsibility of Chemours. At the time of the sale, the Company had accrued the full $21, and $11 and $17 remained on the Company’s consolidated balance sheets at December 31, 2020 and 2019, respectively, as indicated in the significant sites table above. The Company will reimburse the buyer through a series of progress payments to be made at defined intervals as certain tasks are completed. Chemours recognized a gain of $3 on the sale, which includes the purchase price of $1, plus $2 in environmental remediation liabilities that were assumed by the buyer on the occurrence of the sale.

Sale of Oakley, California

On September 9, 2019, the Company sold its Oakley, California site to a third party for $7, of which $4 was received at closing. Receipt of the remaining $3 of proceeds was contingent upon the completion of certain environmental remediation activities at the site; these environmental remediation activities were completed, and the associated proceeds were received, in the fourth quarter of 2020. In connection with the sale, Chemours retained $10 in existing environmental remediation liabilities. $4 and $7 of environmental remediation liabilities remained on the Company’s consolidated balance sheets at December 31, 2020 and 2019, respectively, and are reflected as a component of all other sites in the significant sites table above. The Company recognized a $6 gain on the sale, inclusive of the aforementioned $3 of proceeds received in the fourth quarter of 2020. The remaining portion of the gain was previously deferred and also recognized in the fourth quarter of 2020 based on the Company’s completion of certain environmental remediation activities at the site.

Investments in Affiliates - Schedule of Investments in Affiliates (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments in Affiliates
Investments in affiliates	$ 167	$ 162	$ 160	$ 173
Chemours-Mitsui Fluorochemicals Company, Ltd. [Member] \| Japan [Member]
Investments in Affiliates
Investments in affiliates	$ 104	$ 96
Ownership	50.00%	50.00%
The Chemours Chenguang Fluoromaterials Company Limited [Member] \| China [Member]
Investments in Affiliates
Investments in affiliates	$ 32	$ 33
Ownership	50.00%	50.00%
Changshu 3F Zhonghao New Chemical Materials Co., Ltd. [Member] \| China [Member]
Investments in Affiliates
Investments in affiliates	$ 31	$ 33
Ownership	10.00%	10.00%

Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Acquisitions and Divestitures

Note 4. Acquisitions and Divestitures

Divestiture of Methylamines and Methylamides

In December 2019, the Company entered into an asset purchase agreement with Belle Chemical Company (“Belle”), a subsidiary of Cornerstone Chemical Company, whereby Belle agreed to acquire the Methylamines and Methylamides business of Chemours’ Chemical Solutions segment for a negligible purchase price, subject to customary working capital and other adjustments, but not to exceed a loss on sale of $2. The Company completed the sale and, in December 2019, subsequent to working capital adjustments, received cash proceeds of $2. Prior to the completion of the sale, in the second half of 2019, the Company recorded accelerated depreciation of $34, which was recorded as a component of restructuring, asset-related, and other charges in the consolidated statements of operations. Upon completion of the sale, the Company also recorded an additional pre-tax loss on sale of $2, net of a benefit from working capital adjustments, in other income (expense), net in the consolidated statements of operations.

Acquisition of Southern Ionics Minerals, LLC

In August 2019, the Company, through its wholly-owned subsidiary, The Chemours Company FC, LLC, entered into a Membership Interest Purchase Agreement to acquire all of the outstanding stock of Southern Ionics Minerals, LLC (“SIM”) for an estimated total consideration of approximately $25, which included customary working capital and other adjustments made within a specified time period. SIM was a privately-held minerals exploration, mining, and manufacturing company headquartered in Jacksonville, Florida. SIM mines and processes titanium and zirconium mineral sands, and this acquisition expanded Chemours’ flexibility and scalability to internally source ore in the Company’s Titanium Technologies segment. The aggregate purchase price of $25 included an upfront payment of $10, an additional installment payment of $10, and contingent considerations with an estimated fair value of $5. The additional installment payment of $10 was made during the third quarter of 2020. The Company accounted for the acquisition of SIM as a business combination, and as such, all assets acquired and liabilities assumed were recorded at their estimated fair values.

The purchase consideration was primarily assigned to the property, plant, and equipment of the acquired business, and there was no goodwill associated with the transaction. These amounts were subject to further adjustment during the applicable measurement period as additional information was obtained, including the finalization of a third-party appraisal. The Company completed its assessment during the fourth quarter of 2019, and no subsequent adjustments were made to these amounts.

The Company’s consolidated financial statements include SIM’s results of operations from August 1, 2019, the date of acquisition. Net sales and net income (loss) attributable to Chemours contributed by SIM during this period were not material to the Company’s or its Titanium Technologies segment’s results of operations. Acquisition-related expenses amounted to less than $1 for the year ended December 31, 2019 and are included as a component of selling, general, and administrative expense in the consolidated statements of operations.

Acquisition of ICOR International, Inc.

In April 2018, the Company, through its wholly-owned subsidiary, The Chemours Company FC, LLC, entered into a Stock Purchase Agreement (“SPA”) to acquire all of the outstanding stock of ICOR International, Inc. (“ICOR”), a closely-held private company that produces, sells, and distributes replacement refrigerant gases for use in commercial, industrial, and automotive refrigerant applications. Pursuant to the terms of the SPA, the Company paid $37 in total consideration at closing in the all-cash acquisition, which included customary working capital and other adjustments made within a specified time period. The acquisition of ICOR complements the Company’s existing portfolio of product offerings within the Thermal & Specialized Solutions segment, as well as provides the Company with access to ICOR’s established customer base and assembled workforce.

The Company accounted for the acquisition of ICOR as a business combination, and as such, all assets acquired and liabilities assumed were recorded at their estimated fair values. The excess of the consideration transferred over the fair value of the identifiable net assets acquired was recorded as goodwill within the Thermal & Specialized Solutions segment, representing the expected future benefits arising from the assembled workforce and other synergies to be realized from the acquisition of ICOR. The Company elected to treat the acquisition of ICOR as an asset acquisition under the Internal Revenue Code, and as such, expects that all of the related goodwill will be deductible for federal income tax purposes.

The following table sets forth the Company’s fair value estimates of the assets acquired and liabilities assumed in the acquisition of ICOR, which were finalized during the fourth quarter of 2018.

	Fair Value At Acquisition Date		Measurement Period Adjustments			Adjusted Fair Value		Weighted-average Useful Life (in Years)
Assets acquired:
Accounts receivable - trade	$	4	$	—		$	4
Inventories		8		—			8
Property, plant, and equipment		1		—			1
Identifiable intangible asset:
Customer relationships (1)		20		2			22		5
Total assets acquired		33		2			35
Liabilities assumed:
Accounts payable		1		—			1
Other accrued liabilities		1		—			1
Total liabilities assumed		2		—			2
Total identifiable net assets acquired		31		2			33
Goodwill (1)		6		(2	)		4
Net assets acquired	$	37	$	—		$	37

(1)

The fair value of ICOR’s customer relationships was determined using the excess earnings method, which is a discounted cash flows approach. This method takes into account significant unobservable inputs and is a Level 3 fair value measurement within the fair value hierarchy. The use of this valuation methodology requires management to make various assumptions, including, but not limited to, assumptions about future profitability, cash flows, and discount rates applicable to the acquired business and, where applicable, market participants. These assumptions are based on management’s best estimates and include considerations related to management’s knowledge and experience, historical trends, general economic conditions, and other situational factors.

The Company’s consolidated financial statements include ICOR’s results of operations from April 2, 2018, the date of acquisition. Net sales and net income (loss) attributable to Chemours contributed by ICOR during this period were not material to the Company’s or its Thermal & Specialized Solutions segment’s results of operations. Acquisition-related expenses amounted to less than $1 at December 31, 2018 and are included as a component of selling, general, and administrative expense in the consolidated statements of operations.

Sale of Land in Linden, New Jersey

In March 2016, the Company entered into an agreement to sell a 210-acre plot of land that formerly housed an EID manufacturing site located in Linden, New Jersey. The land was assigned to Chemours in connection with its Separation from EID, and the Company completed the sale in March 2018 for a gain of $42 and net cash proceeds of $39. As part of the sales agreement, the buyer agreed to assume certain costs associated with ongoing environmental remediation activities at the site amounting to $3, which have been reflected as a component of prepaid expenses and other on the consolidated balance sheets. Chemours remains responsible for certain other ongoing environmental remediation activities at the site, which were previously accrued as a component of other liabilities on the consolidated balance sheets.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for (Benefit from) Income Taxes

The following table sets forth the components of the Company’s provision for (benefit from) income taxes for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Current tax expense (benefit):
U.S. federal	$	4		$	13		$	23
U.S. state and local		1			(1	)		4
International		75			79			110
Total current tax expense		80			91			137
Deferred tax expense (benefit):
U.S. federal		(86	)		(77	)		20
U.S. state and local		(12	)		(5	)		3
International		(22	)		(81	)		(1	)
Total deferred tax (benefit) expense		(120	)		(163	)		22
Total (benefit from) provision for income taxes	$	(40	)	$	(72	)	$	159

Schedule of Deferred Tax Assets and Liabilities Components

The following table sets forth the components of the Company’s deferred tax assets and liabilities at December 31, 2020 and 2019.

	December 31,
	2020			2019
Deferred tax assets:
Environmental and other liabilities	$	103		$	99
Accrued litigation		21			37
Stock-based compensation and accrued employee benefits		50			29
Other assets and other accrued liabilities		43			19
Tax attribute carryforwards		134			96
Operating lease liability		60			75
Foreign tax credit carryforwards		7			18
Total deferred tax assets		418			373
Less: Valuation allowance		(24	)		(10	)
Total deferred tax assets, net		394			363
Deferred tax liabilities:
Pension and other liabilities		(12	)		(7	)
Property, plant, and equipment		(258	)		(320	)
Operating lease asset		(56	)		(71	)
Inventories and other assets		(8	)		(43	)
Total deferred tax liabilities		(334	)		(441	)
Deferred tax assets (liabilities), net	$	60		$	(78	)

Schedule of Effective Income Tax Rate

The following table sets forth an analysis of the Company’s effective tax rates for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020						2019						2018
	$			%			$			%			$			%
Statutory U.S. federal income tax rate	$	38			21.0	%	$	(26	)		21.0	%	$	243			21.0	%
State income taxes, net of federal benefit		(11	)		(6.1	)%		(7	)		5.6	%		7			0.6	%
Lower effective tax rate on international operations, net		(34	)		(19.0	)%		(28	)		22.7	%		(44	)		(3.8	)%
Depletion		(6	)		(3.4	)%		(5	)		4.0	%		(6	)		(0.5	)%
Exchange gains		—			—	%		(7	)		5.6	%		(4	)		(0.3	)%
Provision to return and other adjustments		(37	)		(20.6	)%		(4	)		3.2	%		(9	)		(0.8	)%
Valuation allowance		13			7.3	%		8			(6.5	)%		(15	)		(1.3	)%
Net impact of U.S. tax reform		—			—	%		—			—	%		(10	)		(0.9	)%
Stock-based compensation		—			—	%		(14	)		11.4	%		(14	)		(1.2	)%
Executive compensation limitation		1			0.6	%		9			(7.3	)%		4			0.3	%
R&D credit		(7	)		(3.8	)%		(6	)		4.8	%		(5	)		(0.4	)%
Uncertain tax positions		(1	)		(0.5	)%		7			(5.6	)%		2			0.2	%
Other, net		4			2.2	%		1			(0.8	)%		10			0.9	%
Total effective tax rate	$	(40	)		(22.3	)%	$	(72	)		58.1	%	$	159			13.8	%

Schedule of Income (Loss) before Income Taxes

The following table sets forth the Company’s income (loss) before income taxes for its U.S. and international operations for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
U.S. operations (including exports)	$	(136	)	$	(375	)	$	114
International operations		315			251			1,041
Total income (loss) before income taxes	$	179		$	(124	)	$	1,155

Schedule of open tax years by significant jurisdiction

The following table sets forth the Company’s significant jurisdictions’ tax returns that are subject to examination by their respective taxing authorities for the open years listed.

Jurisdiction		Open Years
China		2015 through 2020
India		2015 through 2020
Mexico		2015 through 2020
Netherlands		2017 through 2020
Singapore		2016 through 2020
Switzerland		2017 through 2020
Taiwan		2015 through 2020
U.S.		2017 through 2020

Schedule of Unrecognized Tax Benefits

The following table sets forth the change in the Company’s unrecognized tax benefits for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019		2018
Balance at January 1,	$	9		$	2	$	—
Gross amounts of decreases in unrecognized tax benefits as a result of adjustments to tax provisions taken during the prior period		(2	)		—		—
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken during the current period		1			7		2
Reduction to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations		(1	)		—		—
Balance at December 31,	$	7		$	9	$	2

Total unrecognized tax benefits, if recognized, that would impact the effective tax rate	$	8		$	9	$	2
Total amount of interest and penalties recognized in the consolidated statements of operations		1			—		—
Total amount of interest and penalties recognized in the consolidated balance sheets		1			—		—

Summary of Deferred Tax Asset Valuation Allowance

The following table sets forth a rollforward of the Company’s deferred tax asset valuation allowance for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020		2019		2018
Balance at January 1,	$	10	$	2	$	17
Net charges to income tax expense		14		8		—
Release of valuation allowance		—		—		(15	)
Balance at December 31,	$	24	$	10	$	2

Earnings Per Share of Common Stock - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Average number of stock options	3,839,845	2,206,609	393,016

Restructuring, Asset-Related, and Other Charges - Schedule of Restructuring Program (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring And Related Activities [Abstract]
Employee separation charges	$ 17	$ 21	$ 14
Decommissioning and other charges	41	23	31
Total restructuring and other charges	58	44	45
Asset-related charges	22	43	4
Total restructuring, asset-related, and other charges	$ 80	$ 87	$ 49

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1,	$ 9	$ 2	$ 0
Gross amounts of decreases in unrecognized tax benefits as a result of adjustments to tax provisions taken during the prior period	(2)	0	0
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken during the current period	1	7	2
Reduction to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations	(1)	0	0
Balance at December 31,	7	9	2
Total unrecognized tax benefits, if recognized, that would impact the effective tax rate	8	9	2
Total amount of interest and penalties recognized in the consolidated statements of operations	1	0	0
Total amount of interest and penalties recognized in the consolidated balance sheets	$ 1	$ 0	$ 0

Debt - Components of Debt (Details) € in Millions, $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 EUR (€)
Debt Instrument [Line Items]
Finance lease liabilities	$ 74		$ 59
Financing obligation	94		95
Other			6
Total debt principal	4,061		4,196
Less: Unamortized issue discounts	(7)		(8)
Less: Unamortized debt issuance costs	(28)		(28)
Less: Short-term and current maturities of long-term debt	(21)		(134)
Total long-term debt, net	4,005		4,026
Senior Secured Tranche B-2 U.S Dollar Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	875		884
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	417	€ 340	383	€ 344
Securitization Facility [Member]
Debt Instrument [Line Items]
Short-term debt			110
6.625% Senior Unsecured Notes Due May 2023 [Member]
Debt Instrument [Line Items]
Long-term debt			908
7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	750		750
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	551	€ 450	501	€ 450
5.375% Senior Unsecured Notes Due May 2027 [Member]
Debt Instrument [Line Items]
Long-term debt	500		$ 500
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 800

Net Sales - Narrative (Details) - Topic 606 [Member] $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Disaggregation Of Revenue [Line Items]
Remaining performance obligations	$ 71
Revenue, practical expedient, financing component	true