0001564590-21-054925 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2021	Nov. 01, 2021
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-Q
Trading Symbol	CC
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		162,960,846
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 Quarterly Report	true
Document Transition Report	false

Interim Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net sales	$ 1,680	$ 1,233	$ 4,770	$ 3,631
Cost of goods sold	1,253	976	3,782	2,877
Gross profit	427	257	988	754
Selling, general, and administrative expense	124	112	433	347
Research and development expense	27	22	78	67
Restructuring, asset-related, and other charges	3	9	4	37
Total other operating expenses	154	143	515	451
Equity in earnings of affiliates	12	4	32	19
Interest expense, net	(45)	(53)	(142)	(160)
Loss on extinguishment of debt	(20)	0	(20)	0
Other income (expense), net	11	(5)	31	(6)
Income before income taxes	231	60	374	156
Provision for (benefit from) income taxes	17	(16)	(1)	(44)
Net income	214	76	375	200
Net income attributable to Chemours	$ 214	$ 76	$ 375	$ 200
Per share data
Basic earnings per share of common stock	$ 1.30	$ 0.46	$ 2.26	$ 1.22
Diluted earnings per share of common stock	$ 1.27	$ 0.46	$ 2.21	$ 1.21

Interim Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income, pre-tax	$ 231	$ 60	$ 374	$ 156
Net Income, tax	(17)	16	1	44
Net income	214	76	375	200
Hedging activities:
Unrealized gain (loss) on net investment hedge, pre-tax	21	(32)	45	(40)
Unrealized gain (loss) on net investment hedge, tax	(6)	8	(11)	10
Unrealized gain (loss) on net investment hedge, after-tax	15	(24)	34	(30)
Unrealized gain (loss) on cash flow hedge, pre-tax	2	(2)	5	(4)
Unrealized gain (loss) on cash flow hedge, tax			(1)	1
Unrealized gain (loss) on cash flow hedge, after-tax	2	(2)	4	(3)
Reclassifications to net income - cash flow hedge, pre-tax	1	(1)	5	(5)
Reclassifications to net income - cash flow hedge, tax			(1)	1
Reclassifications to net income - cash flow hedge, after-tax	1	(1)	4	(4)
Hedging activities, net, pre-tax	24	(35)	55	(49)
Hedging activities, net, tax	(6)	8	(13)	12
Hedging activities, net, after-tax	18	(27)	42	(37)
Cumulative translation adjustment, pre-tax	(36)	59	(71)	(19)
Cumulative translation adjustment, after-tax	(36)	59	(71)	(19)
Curtailment gain, tax		(1)		(1)
Defined benefit plans:
Net gain, pre-tax		1		1
Net gain, after-tax		1		1
Prior service cost, pre-tax		1		(1)
Prior service benefit, after-tax		(1)		(1)
Curtailment gain, pre-tax		4		4
Curtailment gain, tax		(1)		(1)
Curtailment gain, after-tax		3		3
Effect of foreign exchange rates, pre-tax	2	(3)	4	(4)
Effect of foreign exchange rates, after-tax	2	(3)	4	(4)
Amortization of actuarial loss, pre-tax	2	2	6	6
Amortization of actuarial loss, tax		(1)	(1)	(1)
Amortization of actuarial loss, after-tax	2	1	5	5
Amortization of prior service gain, pre- tax		(1)	(2)	(2)
Amortization of prior service gain, after-tax		(1)	(2)	(2)
Settlement loss, pre-tax		1		1
Settlement loss, after-tax		1		1
Defined benefit plans, net, pre-tax	4	3	8	5
Defined benefit plans, net, tax		(2)	(1)	(2)
Defined benefit plans, net, after-tax	4	1	7	3
Other comprehensive income (loss), after-tax	(14)	33	(22)	(53)
Comprehensive income, after-tax	200	109	353	147
Comprehensive income attributable to Chemours, after-tax	$ 200	$ 109	$ 353	$ 147

Interim Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,031	$ 1,105
Accounts and notes receivable, net	831	511
Inventories	1,016	939
Prepaid expenses and other	81	78
Assets held for sale	412
Total current assets	3,371	2,633
Property, plant, and equipment	9,207	9,582
Less: Accumulated depreciation	(6,080)	(6,108)
Property, plant, and equipment, net	3,127	3,474
Operating lease right-of-use assets	213	236
Goodwill, net	102	153
Other intangible assets, net	8	14
Investments in affiliates	190	167
Restricted cash and restricted cash equivalents	100
Other assets	419	405
Total assets	7,530	7,082
Current liabilities:
Accounts payable	1,085	844
Compensation and other employee-related cost	139	107
Short-term and current maturities of long-term debt	25	21
Current environmental remediation	161	95
Other accrued liabilities	361	375
Liabilities held for sale	8
Total current liabilities	1,779	1,442
Long-term debt, net	3,829	4,005
Operating lease liabilities	176	194
Long-term environmental remediation	395	295
Deferred income taxes	57	36
Other liabilities	295	295
Total liabilities	6,531	6,267
Commitments and contingent liabilities
Equity
Common stock (par value $0.01 per share; 810,000,000 shares authorized; 191,437,408 shares issued and 163,646,920 shares outstanding at September 30, 2021; 190,239,883 shares issued and 164,920,648 shares outstanding at December 31, 2020)	2	2
Treasury stock, at cost (27,790,488 shares at September 30, 2021; 25,319,235 and December 31, 2020)	(1,152)	(1,072)
Additional paid-in capital	926	890
Retained earnings	1,554	1,303
Accumulated other comprehensive loss	(332)	(310)
Total Chemours stockholders’ equity	998	813
Non-controlling interests	1	2
Total equity	999	815
Total liabilities and equity	$ 7,530	$ 7,082

Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Common stock, shares authorized (in shares)	810,000,000	810,000,000
Common stock , par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares Issued (in shares)	191,437,408	190,239,883
Common stock, shares outstanding (in shares)	163,646,920	164,920,648
Treasury stock (in shares)	27,790,488	25,319,235

Interim Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Non-controlling Interests [Member]
Total stockholders' equity, beginning balance at Dec. 31, 2019	$ 695	$ 2	$ (1,072)	$ 859	$ 1,249	$ (349)	$ 6
Shares, beginning 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)		222,207
Exercise of stock options, net	9			9
Exercise of stock options, net (in shares)		656,525
Stock-based compensation expense	12			12
Cancellation of unissued stock awards withheld to cover taxes	(2)			(2)
Net income	200				200
Dividends	(123)				(123)
Dividends to non-controlling interests	(4)						(4)
Other comprehensive income (loss)	(53)					(53)
Total stockholders' equity, ending balance at Sep. 30, 2020	734	$ 2	$ (1,072)	879	1,325	(402)	2
Shares, ending balance at Sep. 30, 2020		189,772,210	25,319,235
Total stockholders' equity, beginning balance at Jun. 30, 2020	659	$ 2	$ (1,072)	872	1,290	(435)	2
Shares, beginning balance at Jun. 30, 2020		189,551,590	25,319,235
Common stock issued - compensation plans (in shares)		2,578
Exercise of stock options, net	4			4
Exercise of stock options, net (in shares)		218,042
Stock-based compensation expense	3			3
Net income	76				76
Dividends	(41)				(41)
Other comprehensive income (loss)	33					33
Total stockholders' equity, ending balance at Sep. 30, 2020	734	$ 2	$ (1,072)	879	1,325	(402)	2
Shares, ending balance at Sep. 30, 2020		189,772,210	25,319,235
Total stockholders' equity, beginning balance at Dec. 31, 2020	815	$ 2	$ (1,072)	890	1,303	(310)	2
Shares, beginning balance at Dec. 31, 2020		190,239,883	25,319,235
Common stock issued - compensation plans			$ 2	(1)	(1)
Common stock issued - compensation plans (in shares)		248,315	(39,554)
Exercise of stock options, net	15			15
Exercise of stock options, net (in shares)		949,210
Purchases of treasury stock, at cost	(82)		$ (82)
Purchases of treasury stock at cost (in shares)			2,510,807
Stock-based compensation expense	24			24
Cancellation of unissued stock awards withheld to cover taxes	(2)			(2)
Net income	375				375
Dividends	(123)				(123)
Dividends to non-controlling interests	(1)						(1)
Other comprehensive income (loss)	(22)					(22)
Total stockholders' equity, ending balance at Sep. 30, 2021	999	$ 2	$ (1,152)	926	1,554	(332)	1
Shares, ending balance at Sep. 30, 2021		191,437,408	27,790,488
Total stockholders' equity, beginning balance at Jun. 30, 2021	900	$ 2	$ (1,087)	920	1,381	(318)	2
Shares, beginning balance at Jun. 30, 2021		191,115,609	25,742,508
Common stock issued - compensation plans			$ 2	(2)
Common stock issued - compensation plans (in shares)		94,003	(39,554)
Exercise of stock options, net	5			5
Exercise of stock options, net (in shares)		227,796
Purchases of treasury stock, at cost	(67)		$ (67)
Purchases of treasury stock at cost (in shares)			2,087,534
Stock-based compensation expense	3			3
Net income	214				214
Dividends	(41)				(41)
Dividends to non-controlling interests	(1)						(1)
Other comprehensive income (loss)	(14)					(14)
Total stockholders' equity, ending balance at Sep. 30, 2021	$ 999	$ 2	$ (1,152)	$ 926	$ 1,554	$ (332)	$ 1
Shares, ending balance at Sep. 30, 2021		191,437,408	27,790,488

Interim Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Stockholders Equity [Abstract]
Dividends per share declared during period	$ 0.25	$ 0.25	$ 0.75	$ 0.75

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net income	$ 375	$ 200
Adjustments to reconcile net income to cash provided by (used for) operating activities:
Depreciation and amortization	242	240
Gain on sales of assets and businesses	(2)	0
Equity in earnings of affiliates, net	(31)	(16)
Loss on extinguishment of debt	20	0
Amortization of debt issuance costs and issue discounts	6	7
Deferred tax benefit	(55)	(105)
Asset-related charges	0	16
Stock-based compensation expense	24	12
Net periodic pension cost	5	9
Defined benefit plan contributions	(12)	(17)
Other operating charges and credits, net	21	(11)
Decrease (increase) in operating assets:
Accounts and notes receivable, net	(343)	97
Inventories and other operating assets	(78)	111
(Decrease) increase in operating liabilities:
Accounts payable and other operating liabilities	434	(89)
Cash provided by operating activities	606	454
Cash flows from investing activities
Purchases of property, plant, and equipment	(194)	(214)
Proceeds from life insurance policies	1	0
Foreign exchange contract settlements, net	(9)	14
Cash used for investing activities	(202)	(200)
Cash flows from financing activities
Proceeds from issuance of debt	650	0
Proceeds from accounts receivable securitization facility	0	12
Proceeds from revolving loan	0	300
Repayments on revolving loan	0	(300)
Debt repayments	(784)	(140)
Payments related to extinguishment of debt	(18)	0
Payments on finance leases	(8)	(4)
Payments of debt issuance cost	(8)	0
Deferred acquisition-related consideration	0	(10)
Purchases of treasury stock, at cost	(80)	0
Proceeds from exercised stock options, net	15	9
Payments related to tax withholdings on vested stock awards	(2)	(2)
Payments of dividends to the Company's common shareholders	(123)	(123)
Distributions to non-controlling interest shareholders	(1)	(4)
Cash used for financing activities	(359)	(262)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(19)	21
Increase in cash, cash equivalents, restricted cash and restricted cash equivalents	26	13
Cash, cash equivalents, restricted cash, and restricted cash equivalents at January 1,	1,105	943
Cash, cash equivalents, restricted cash and restricted cash equivalents at September 30,	1,131	956
Non-cash investing and financing activities:
Purchases of property, plant, and equipment included in accounts payable	44	25
Non-cash financing arrangements	0	15
Treasury Stock repurchased, not settled	$ 2	$ 0

Background, Description of the Business, and Basis of Presentation

9 Months Ended

Sep. 30, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Background, Description of the Business, and Basis of Presentation

Note 1. Background, Description of the Business, and Basis of Presentation

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 separated from E. I. du Pont de Nemours and Company (“EID”) on July 1, 2015 (the “Separation”). 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 to “EID” refer to E. I. du Pont de Nemours and Company, which is now a subsidiary of Corteva.

The accompanying interim consolidated financial statements have been prepared in accordance 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 statement of the Company’s results for interim periods have been included. The notes that follow are an integral part of the Company’s interim consolidated financial statements. The Company’s results for interim periods should not be considered indicative of its results for a full year, and the year-end consolidated balance sheet does not include all of the disclosures required by GAAP. As such, these interim consolidated financial statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020.

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 interim consolidated financial statements.

Change in Segment Reporting

During the fourth quarter of 2020, the Company changed the level of detail at which its Chief Operating Decision Maker (“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). 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 novel coronavirus disease (“COVID-19”)

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

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

The Company’s significant accounting policies are described in its “Note 3 – Summary of Significant Accounting Policies” to the Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended December 31, 2020. Other than the policies below, there have been no material changes to the critical accounting policies and estimates previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

Assets and Liabilities Held for Sale

The Company classifies long-lived assets or disposal groups as held for sale in the period when the following held for sale criteria are met: (i) the Company commits to a plan to sell; (ii) the long-lived asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such long-lived assets or disposal groups; (iii) an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; (iv) the sale is probable within one year; (v) the asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets and disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. The Company ceases depreciation, amortization, and interest for a disposal group upon it being classified as held for sale.

Restricted Cash and Restricted Cash Equivalents

The Company classifies cash and cash equivalents that are legally or contractually restricted for withdrawal or usage as restricted cash and restricted cash equivalents. At September 30, 2021, the restricted cash and restricted cash equivalents balance of $100 includes cash and cash equivalents deposited in an escrow account as per the terms of the Company’s Memorandum of Understanding (“MOU”) agreement which is further discussed in “Note 16 – Commitments and Contingent Liabilities”.

Recent Accounting Pronouncements

Accounting Guidance Issued and Not Yet Adopted

Facilitation of the Effects of Reference Rate Reform on Financial Reporting

In March 2020, the Financial Accounting Standards Board (“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 does not expect the impacts of adopting ASU No. 2020-04 to be material to its financial position, results of operations and cash flows.

Accounting for Contract Assets and Contract Liabilities from Contracts with Customers

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU No. 2021-08”), which requires contract assets and contract liabilities acquired in a business combination to be recognized in accordance with Topic 606 as if the acquirer had originated the contracts. The guidance will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impacts the adoption of this standard will have on its consolidated financial statements and related disclosures.

Recently Adopted Accounting Guidance

Simplifying the Accounting for Income Taxes

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”). 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. The Company adopted ASU No. 2019-12 on January 1, 2021, the effect of which was not material on its financial position, results of operations, and cash flows.

Acquisitions and Divestitures

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Acquisitions and Divestitures

Note 3. Acquisitions and Divestitures

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”), a privately-held minerals exploration, mining, and manufacturing company headquartered in Jacksonville, Florida. 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’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.

Mining Solutions Business Held for Sale

On July 26, 2021, the Company entered into a definitive agreement with Manchester Acquisition Sub LLC, a Delaware limited liability company and a subsidiary of Draslovka Holding a.s., to sell the Mining Solutions business of its Chemical Solutions segment for cash consideration of approximately $520 (the “Mining Solutions Transaction”). The Mining Solutions Transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions, including regulatory approvals. The Company expects to recognize a pre-tax gain on this transaction at closing, which we expect to occur in the fourth quarter of 2021, subject to customary closing conditions, including regulatory approvals.

At September 30, 2021, total assets and liabilities associated with the Mining Solutions business disposal group of $412 and $8, respectively, met the held for sale criteria. Included in the assets held for sale at September 30, 2021 is $51 of goodwill reclassified from the Chemical Solutions segment. There were no assets or liabilities classified as held for sale at December 31, 2020. During the nine months ended September 30, 2021, the Company did not recognize an impairment associated with classifying the Mining Solutions business as held for sale as the expected proceeds from the sale of the disposal group less estimated costs to sell exceeded the carrying value of the net assets held for sale.

The following table sets forth the carrying amounts of major classes of assets and liabilities classified as held for sale related to the sale of the Mining Solutions business at September 30, 2021.

	September 30, 2021
Accounts and notes receivable, net	$	26
Inventories		24
Property, plant, and equipment		481
Less: Accumulated depreciation		(185	)
Property, plant, and equipment, net		296
Operating lease right-of-use assets		7
Goodwill		51
Other assets		8
Assets held for sale	$	412

	September 30, 2021
Other accrued liabilities	$	3
Operating lease liabilities		5
Liabilities held for sale	$	8

In connection with the held for sale classification, the Company recorded an income tax benefit of $10 related to the release of a valuation allowance on a certain foreign subsidiary’s deferred tax assets. The Company has evaluated all available positive and negative evidence, including the impact of the sale of the Mining Solutions business, as well as the future projections of profitability for the entity post sale. As a result, the Company determined that all of its deferred tax assets related to the certain foreign subsidiary are more likely than not to be realized and accordingly reversed the valuation allowance against those deferred tax assets.

The sale of the Mining Solutions business does not represent a strategic shift that will have a major effect on the Company’s operations and financial results. Accordingly, the disposal group is not classified as a discontinued operation.

In connection with the sale transaction, the Company recognized costs to sell of $2 and $11 for the three and nine months ended September 30, 2021, respectively, which are recorded in selling, general, and administrative expenses within the Interim Consolidated Statements of Operations. Through September 30, 2021, the Company has incurred, in the aggregate, charges related to costs to sell of $12 primarily consisting of legal, audit and consulting fees.

Net Sales

9 Months Ended

Sep. 30, 2021

Revenue From Contract With Customer [Abstract]

Net Sales

Note 4. 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 three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net sales by geographic region (1)
North America:
Titanium Technologies	$	275	$	203	$	730	$	571
Thermal & Specialized Solutions		171		151		486		415
Advanced Performance Materials		123		82		363		312
Chemical Solutions		55		52		138		158
Total North America		624		488		1,717		1,456
Asia Pacific:
Titanium Technologies		288		185		804		539
Thermal & Specialized Solutions		42		38		129		98
Advanced Performance Materials		158		104		448		330
Chemical Solutions		6		4		18		17
Total Asia Pacific		494		331		1,399		984
Europe, the Middle East, and Africa:
Titanium Technologies		229		135		626		382
Thermal & Specialized Solutions		67		75		243		235
Advanced Performance Materials		62		42		197		152
Chemical Solutions		4		6		13		17
Total Europe, the Middle East, and Africa		362		258		1,079		786
Latin America (2):
Titanium Technologies		116		89		330		219
Thermal & Specialized Solutions		38		29		104		84
Advanced Performance Materials		13		12		43		31
Chemical Solutions		33		26		98		71
Total Latin America		200		156		575		405
Total net sales	$	1,680	$	1,233	$	4,770	$	3,631

Net sales by segment and product group
Titanium Technologies:
Titanium dioxide and other minerals	$	908	$	612	$	2,490	$	1,711
Thermal & Specialized Solutions:
Refrigerants		244		229		756		667
Foam, propellants, and other		74		64		206		165
Advanced Performance Materials:
Fluoropolymers and advanced materials		356		240		1,051		825
Chemical Solutions:
Mining solutions		72		53		193		150
Performance chemicals and intermediates		26		35		74		113
Total net sales	$	1,680	$	1,233	$	4,770	$	3,631

(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.

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 September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Accounts receivable - trade, net (1)	$	752	$	449
Deferred revenue		7		12
Customer rebates		69		69

(1)

Accounts receivable - trade, net includes trade notes receivable of $2 and less than $1 and is net of allowances for doubtful accounts of $5 and $7 at September 30, 2021 and December 31, 2020, 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 three and nine months ended September 30, 2021 were not significant. For the three and nine months ended September 30, 2021, 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 September 30, 2021 or December 31, 2020.

Remaining Performance Obligations

Certain of the Company’s master services agreements 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 September 30, 2021, Chemours had $76 of remaining performance obligations. The Company expects to recognize approximately 19% of its remaining performance obligations as revenue in 2021, approximately an additional 21% as revenue 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 September 30, 2021 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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Restructuring, Asset-Related, and Other Charges

9 Months Ended

Sep. 30, 2021

Restructuring And Related Activities [Abstract]

Restructuring, Asset-Related, and Other Charges

Note 5. 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 three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021			2020
Restructuring and other charges:
Employee separation charges	$	—	$	3	$	(2	)	$	18
Decommissioning and other charges		3		1		6			3
Total restructuring and other charges		3		4		4			21
Asset-related charges		—		5		—			16
Total restructuring, asset-related, and other charges	$	3	$	9	$	4		$	37

The following table sets forth the impacts of the Company’s restructuring programs to segment earnings for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021			2020
Restructuring charges:
Plant and product line closures:
Chemical Solutions	$	2	$	1	$	11		$	4
Corporate and Other		—		—		—			1
Total plant and product line closures		2		1		11			5
2017 Restructuring Program:
Corporate and Other		—		—		—			(1	)
Total 2017 Restructuring Program		—		—		—			(1	)
2019 Restructuring Program:
Thermal & Specialized Solutions		—		—		—			1
Advanced Performance Materials		—		—		—			2
Total 2019 Restructuring Program		—		—		—			3
2020 Restructuring Program:
Titanium Technologies		—		—		—			3
Thermal & Specialized Solutions		—		—		—			1
Advanced Performance Materials		—		1		(1	)		3
Chemical Solutions		—		—		—			1
Corporate and Other		—		2		—			6
Total 2020 Restructuring Program		—		3		(1	)		14
Total restructuring charges		2		4		10			21
Asset-related charges:
Advanced Performance Materials		—		5		—			5
Chemical Solutions		—		—		—			7
Corporate and Other		—		—		—			4
Total asset-related charges		—		5		—			16
Other charges:
Advanced Performance Materials		—		—		1			—
Chemical Solutions		1		—		(7	)		—
Total other charges		1		—		(6	)		—
Total restructuring, asset-related, and other charges	$	3	$	9	$	4		$	37

Other Charges

In connection with the construction work at the Mining Solutions facility in Gomez Palacio, Durango, Mexico, 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 probable contract termination fees, as well as immediate recognition of $11 of other related prepaid costs, for a total of $37 in Other Charges. During the first quarter of 2021, the Company and the third-party services provider reached an agreement to terminate the contractual relationship resulting in a payment of $26 for the aforementioned contract termination fees and, in exchange, the Company received title to approximately $22 of assets classified as construction-in-process, of which only approximately $9 are expected to be used by the Company when construction resumes. Accordingly, approximately $13 was recognized in impairment charges in the first quarter of 2021, offset by $22 of the liability recorded in the fourth quarter of 2020 being reversed in the first quarter of 2021, resulting in a net $9 gain in Other Charges. Additionally, during the second quarter of 2021, the Company incurred $2 of freight charges associated with transportation of the impaired assets. In the third quarter of 2021, the Company incurred an additional $1 of freight charges associated with the transportation of the impaired assets.

Plant and Product Line Closures and Asset-related Charges

Advanced Performance Materials

In the third quarter of 2020, in connection with various property, plant, and equipment and other asset impairments, the Company recorded asset-related charges of $5, all of which relate to Advanced Performance Materials.

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 dismantling-related charges of less than $1 and $2 for the three and nine months ended September 30, 2021, respectively, and $1 and $2 for the three and nine months ended September 30, 2020, respectively. The Company expects to incur and spend approximately $2 related to additional restructuring charges for similar activities by the end of 2022, all of which relate to Chemical Solutions. Through September 30, 2021, the Company has incurred, in the aggregate, $42 in restructuring charges related to these activities, excluding asset-related charges.

In the second quarter of 2020, the Company completed a business review of its Aniline business. It was determined that the Aniline business was 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 nine months ended September 30, 2020, the Company recorded asset-related charges of $10 and employee separation-related liabilities of $2. Furthermore, the Company recorded decommissioning and dismantling-related charges of $2 and $10 for the three and nine months ended September 30, 2021, respectively. At September 30, 2021 and December 31, 2020 $1 and $2 remained as an employee separation-related liability, respectively, and the remaining severance payments are expected to be made by the end of 2021. The Company expects to incur approximately $3 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. The Company recorded additional decommissioning and dismantling-related charges of $1 for the nine months ended September 30, 2020 . Through September 30, 2021, 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 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 cumulative amount incurred, in the aggregate, for the Company’s 2017 Restructuring Program amounted to $61 at September 30, 2021. 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. Through September 30, 2021, the cumulative amount incurred, in the aggregate, for the Company’s 2019 Restructuring Program amounted to $25, the majority of which was incurred in the third and fourth quarters of 2019. The Company believes that it has completed incurring severance costs for this program. At September 30, 2021 and December 31, 2020, $1 and $2 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. Through September 30, 2021, the cumulative amount incurred, in the aggregate, for the Company’s 2020 Restructuring Program amounted to $12 and the Company has substantially completed all actions related to this program.

The following table sets forth the change in the Company’s employee separation-related liabilities associated with its restructuring programs for the nine months ended September 30, 2021.

	Chemical Solutions Site Closures			2019 Restructuring Program			2020 Restructuring Program			Total
Balance at December 31, 2020	$	2		$	2		$	3		$	7
Charges (credits) to income		(1	)		—			(1	)		(2	)
Payments		—			(1	)		(2	)		(3	)
Balance at September 30, 2021	$	1		$	1		$	—		$	2

At September 30, 2021, there were no significant outstanding liabilities related to the Company’s decommissioning and other restructuring-related charges.

Other Income (Expense), Net

9 Months Ended

Sep. 30, 2021

Other Income And Expenses [Abstract]

Other Income (Expense), Net

Note 6. Other Income (Expense), Net

The following table sets forth the components of the Company’s other income (expense), net for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,					Nine Months Ended September 30,
	2021		2020			2021			2020
Leasing, contract services, and miscellaneous income	$	4	$	2		$	16		$	11
Royalty income (1)		1		1			8			9
Gain on sales of assets and businesses		1		—			2			—
Exchange gains (losses), net (2)		3		(9	)		(2	)		(28	)
Non-operating pension and other post-retirement employee benefit income (3)		2		1			7			2
Total other income (expense), net	$	11	$	(5	)	$	31		$	(6	)

(1)

Royalty income for the periods ended September 30, 2021 and 2020 is primarily from technology licensing.

(2)

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

(3)

Non-operating pension and other post-retirement employee benefit income represents the components of net periodic pension income (cost), excluding the service cost component.

Earnings Per Share of Common Stock

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Earnings Per Share of Common Stock

Note 7. Earnings Per Share of Common Stock

The following table sets forth the reconciliations of the numerators and denominators of the Company’s basic and diluted earnings per share (“EPS”) calculations for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net income attributable to Chemours	$	214	$	76	$	375	$	200
Denominator:
Weighted-average number of common shares outstanding - basic		165,113,024		164,762,621		165,627,861		164,556,139
Dilutive effect of the Company’s employee compensation plans		3,841,670		1,851,050		3,742,889		1,209,143
Weighted-average number of common shares outstanding - diluted		168,954,694		166,613,671		169,370,750		165,765,282

Basic earnings per share of common stock	$	1.30	$	0.46	$	2.26	$	1.22
Diluted earnings per share of common stock		1.27		0.46		2.21		1.21

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 EPS calculations for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Average number of stock options		1,499,648		1,676,765		1,501,344		4,607,057

Accounts and Notes Receivable, Net

9 Months Ended

Sep. 30, 2021

Receivables [Abstract]

Accounts and Notes Receivable, Net

Note 8. Accounts and Notes Receivable, Net

The following table sets forth the components of the Company’s accounts and notes receivable, net at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Accounts receivable - trade, net (1)	$	752	$	449
VAT, GST, and other taxes (2)		53		49
Other receivables (3)		26		13
Total accounts and notes receivable, net	$	831	$	511

(1)

(2)

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

(3)

Other receivables consist of derivative instruments, advances, other deposits, and $15 at September 30, 2021 due under the terms of the MOU which is further discussed in “Note 16 – Commitments and Contingent Liabilities”.

Accounts and notes receivable are carried at amounts that approximate fair value. Bad debt expense amounted to less than $1 for the three and nine months ended September 30, 2021, and $2 for the three and nine months ended September 30, 2020.

Inventories

9 Months Ended

Sep. 30, 2021

Inventory Net [Abstract]

Inventories

Note 9. Inventories

The following table sets forth the components of the Company’s inventories at September 30, 2021 and December 31, 2020.

	September 30, 2021			December 31, 2020
Finished products	$	625		$	579
Semi-finished products		166			180
Raw materials, stores, and supplies		472			433
Inventories before LIFO adjustment		1,263			1,192
Less: Adjustment of inventories to LIFO basis		(247	)		(253	)
Total inventories	$	1,016		$	939

Inventory values, before last-in, first-out (“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 $570 and $585 (or 45% and 49%, respectively) of inventories before the LIFO adjustments at September 30, 2021 and December 31, 2020, respectively. The remainder of the Company’s inventory held in international locations and certain U.S. locations is valued under the average cost method.

Property, Plant, and Equipment, Net

9 Months Ended

Sep. 30, 2021

Property Plant And Equipment [Abstract]

Property, Plant, and Equipment, Net

Note 10. Property, Plant, and Equipment, Net

The following table sets forth the components of the Company’s property, plant, and equipment, net at September 30, 2021 and December 31, 2020.

	September 30, 2021			December 31, 2020
Equipment	$	7,614		$	7,816
Buildings		1,171			1,198
Construction-in-progress		278			421
Land		108			111
Mineral rights		36			36
Property, plant, and equipment		9,207			9,582
Less: Accumulated depreciation		(6,080	)		(6,108	)
Total property, plant, and equipment, net	$	3,127		$	3,474

Property, plant, and equipment, net included gross assets under finance leases of $102 and $86 at September 30, 2021 and December 31, 2020, respectively.

Depreciation expense amounted to $76 and $234 for the three and nine months ended September 30, 2021 respectively, and $77 and $234 for the three and nine months ended September 30, 2020, respectively.

Investments in Affiliates

9 Months Ended

Sep. 30, 2021

Equity Method Investments And Joint Ventures [Abstract]

Investments in Affiliates

Note 11. Investments in Affiliates

The Company uses the equity method of accounting for its investments in and earnings of affiliates. The Company considers whether the fair value of any of its equity method investments has declined below their carrying value whenever adverse events or changes in circumstances indicate that recorded values may not be recoverable. If the Company considers any such decline to be other than temporary, based on various factors, a write-down would be recorded to the estimated fair value. The Company engages in transactions with its equity method investees in the ordinary course of business. The Net sales to the Company’s equity method investees amounted to $41 and $114 for the three and nine months ended September 30, 2021, respectively, and $21 and $68 for the three and nine months ended September 30, 2020, respectively. Purchases from the Company’s equity method investees amounted to $46 and $133 for the three and nine months ended September 30, 2021, respectively, and $38 and $107 for the three and nine months ended September 30, 2020, respectively. The Company also received less than $1 and $1 in dividends from its equity method investees for the three and nine months ended September 30, 2021, respectively, and less than $1 and $4 for the three and nine months ended September 30, 2020, respectively.

Other Assets

9 Months Ended

Sep. 30, 2021

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets

Note 12. Other Assets

The following table sets forth the components of the Company’s other assets at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Capitalized repair and maintenance costs	$	153	$	198
Pension assets (1)		84		79
Deferred income taxes		158		95
Miscellaneous		24		33
Total other assets	$	419	$	405

(1)

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

Other Accrued Liabilities

9 Months Ended

Sep. 30, 2021

Payables And Accruals [Abstract]

Other Accrued Liabilities

Note 13. Other Accrued Liabilities

The following table sets forth the components of the Company’s other accrued liabilities at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Employee separation costs	$	3	$	7
Accrued litigation (1)		36		37
Asset retirement obligations (2)		14		13
Income taxes		75		64
Customer rebates		69		69
Deferred revenue		2		7
Accrued interest		40		18
Operating lease liabilities		49		57
Miscellaneous (3)		73		103
Total other accrued liabilities	$	361	$	375

(1)

Represents the current portion of accrued litigation, which is discussed further in “Note 16 – Commitments and Contingent Liabilities”.

(2)

Represents the current portion of asset retirement obligations. The movements of which are discussed further in “Note 15 – Other Liabilities”.

(3)

Miscellaneous primarily includes accruals related to utility expenses, property taxes, an indemnification liability and other miscellaneous expenses.

Debt

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Debt

Note 14. Debt

The following table sets forth the components of the Company’s debt at September 30, 2021 and December 31, 2020.

	September 30, 2021			December 31, 2020
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	845		$	875
Tranche B-2 euro term loan due April 2025 (€338 at September 30, 2021 and €340 at December 31, 2020)		394			417
Senior unsecured notes:
7.000% due May 2025		—			750
4.000% due May 2026 (€450 at September 30, 2021 and December 31, 2020)		526			551
5.375% due May 2027		500			500
5.750% due November 2028		800			800
4.625% due November 2029		650			—
Finance lease liabilities		82			74
Financing obligation (1)		93			94
Total debt principal		3,890			4,061
Less: Unamortized issue discounts		(6	)		(7	)
Less: Unamortized debt issuance costs		(30	)		(28	)
Less: Short-term and current maturities of long-term debt		(25	)		(21	)
Total long-term debt, net	$	3,829		$	4,005

(1)

At September 30, 2021 and December 31, 2020, financing obligation includes $93 and $94, respectively, in connection with the financed portion of the Company’s research and development facility located in the Science, Technology, and Advanced Research Campus of the University of Delaware in Newark, Delaware (“Chemours Discovery Hub”).

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”). On October 7, 2021, the Company entered into an amendment to the Credit Agreement (“Credit Agreement Amendment”) to, among other things, increase the aggregate commitment amount under the Revolving Credit Facility to $900 and extend the stated maturity date to October 7, 2026 (from April 3, 2023). The Credit Agreement is subject to a springing maturity in the event that the senior secured term loans due April 2025 and the senior unsecured notes due in May 2026 are not redeemed, repaid, modified, and/or refinanced within the 91-day period prior to their maturity date.

No borrowings were outstanding under the Revolving Credit Facility at September 30, 2021 and December 31, 2020. The Company made term loan repayments of $3 and $10 for the three and nine months ended September 30, 2021, and 2020, respectively. During the second quarter 2021, the Company repurchased through open market transactions an aggregate principal amount of $20 of its senior secured term loans for $20 in cash. In July 2021, the Company repurchased additional term loan principal amounting to $4. Chemours also had $108 and $102 in letters of credit issued and outstanding under the Revolving Credit Facility at September 30, 2021 and December 31, 2020, respectively. At September 30, 2021, the effective interest rates on the class of term loans denominated in U.S. dollars and the class of term loans denominated in euros were 1.8% and 2.5%, respectively. Also, at September 30, 2021, commitment fees on the Revolving Credit Facility were assessed at a rate of 0.15% per annum.

Senior Unsecured Notes

Senior Unsecured Notes Due November 2029

On August 18, 2021, the Company issued a $650 aggregate principal amount of 4.625% senior unsecured notes due November 2029 (the “2029 Notes”) in an offering that was exempt from the registration requirements of the Securities Act. The 2029 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 $642, net of underwriting fees and other related expenses of $8, which are deferred and amortized to interest expense using the effective interest method over the term of the 2029 Notes. The net proceeds from the 2029 Notes were used, together with cash on hand, to purchase or redeem, as applicable, its $750 7.000% senior notes due May 2025, denominated in U.S dollars (“2025 Notes”). In connection with the purchase and redemption of the 2025 Notes, the Company incurred a loss on extinguishment of $20 for the three and nine months ended September 30, 2021.

The 2029 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 2029 Notes will rank equally with all other senior indebtedness of the guarantors. The 2029 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 2029 Notes. The 2029 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 2029 Notes, the Company is obligated to offer to purchase the 2029 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, 2024, the Company may redeem the 2029 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, 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 104.625% 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, 2024, the Company may redeem the 2029 Notes at specified redemption prices. The Company may also redeem some or all of the 2029 Notes by means other than a redemption, including tender offer and open market repurchases.

2025 Notes Tender Offer and Redemption

On August 4, 2021, the Company commenced an all-cash tender offer to purchase any and all of the outstanding 2025 Notes for a purchase price of $1,025.00 per $1,000.00 of principal amount through an early tender deadline of August 17, 2021, and $995.00 per $1,000.00 of principal amount thereafter, through August 31, 2021, the tender expiration date, plus any accrued and unpaid interest thereon (the “2025 Notes Tender Offer”). In connection with the 2025 Notes Tender Offer, the Company received consents from the holders of a majority of the aggregate principal amount of the 2025 Notes to amend certain provisions of the indenture governing the 2025 Notes, thereby allowing the Company to call and redeem the remaining 2025 Notes outstanding upon two business days’ notice to the noteholders (the “2025 Notes Redemption”) (collectively, the “2025 Notes Tender Offer and Redemption”). The Company completed the 2025 Notes Tender Offer and Redemption on August 20, 2021 for an aggregate purchase price of $782, inclusive of an early participation premium of $18 and accrued interest of $14. The 2025 Notes Tender Offer and Redemption was funded with the proceeds from the offering of the 2029 Notes and cash on hand.

Accounts Receivable Securitization Facility

The Company, through a wholly-owned special purpose entity (“SPE”), maintains an amended and restated receivables purchase agreement (the “Amended Purchase Agreement”), dated March 9, 2020, under its accounts receivable securitization facility (“Securitization Facility”). The Amended Purchase Agreement amends and restates, in its entirety, the receivables purchase agreement dated as of July 12, 2019 (the “Original Purchase Agreement”). 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, in the first quarter of 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 for the three months ended March 31, 2020, and sold $125 of its receivables to the bank. 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.

On March 5, 2021, the Company, through the SPE, entered into an amendment (the “First Amendment”) to its Amended Purchase Agreement (the “Amended Purchase Agreement”) to, among other things, extend the term of the Amended Purchase Agreement (as amended by the First Amendment), such that the SPE may sell certain receivables and request investments and letters of credit until the earlier of March 6, 2023 or another event that constitutes a “Termination Date” under the Amended Purchase Agreement (as amended by the First Amendment). The First Amendment also increases the facility limit under the arrangement from $125 to $150. As of September 30, 2021, the Securitization Facility is fully utilized.

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 the facility limit, which is the aggregate purchase limit. During the three and nine months ended September 30, 2021, the Company received $331 and $947 of cash collections on receivables sold under the Securitization Facility, respectively, following which it sold and derecognized $331 and $972 of incremental accounts receivable, respectively. During the three and nine months ended September 30, 2020, the Company received $289 and $646, respectively, of cash collections on receivables sold under the Amended Purchase Agreement, following which it sold and derecognized $292 and $646, respectively, 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 $142 and $33 at September 30, 2021 and December 31, 2020, respectively. The Company incurred $1 and $2 of servicing and other fees associated with the Securitization Facility during the three and nine months ended September 30, 2021, respectively, and, less than $1 and $1 during the three and nine months ended September 30, 2020, respectively. 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.

Maturities

The Company has required quarterly principal payments related to its senior secured term loans 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 is not required to make additional principal payments in 2021.

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

Remainder of 2021	$	3
2022		13
2023		13
2024		13
2025		1,197
Thereafter		2,476
Total principal maturities on debt	$	3,715

Debt Fair Value

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.

	September 30, 2021					December 31, 2020
	Carrying Value			Fair Value		Carrying Value			Fair Value
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	845		$	828	$	875		$	862
Tranche B-2 euro term loan due April 2025 (€338 at September 30, 2021 and €340 at December 31, 2020)		394			392		417			413
Senior unsecured notes:
7.000% due May 2025		—			—		750			774
4.000% due May 2026 (€450 at September 30, 2021 and December 31, 2020)		526			538		551			551
5.375% due May 2027		500			540		500			536
5.750% due November 2028		800			840		800			821
4.625% due November 2029		650			638		—			—
Total senior debt		3,715		$	3,776		3,893		$	3,957
Less: Unamortized issue discounts		(6	)				(7	)
Less: Unamortized debt issuance costs		(30	)				(28	)
Total senior debt, net	$	3,679				$	3,858

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Other Liabilities

9 Months Ended

Sep. 30, 2021

Other Liabilities Disclosure [Abstract]

Other Liabilities

Note 15. Other Liabilities

The following table sets forth the components of the Company’s other liabilities at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Employee-related costs (1)	$	104	$	108
Accrued litigation (2)		52		51
Asset retirement obligations (3)		63		63
Deferred revenue		5		5
Miscellaneous (4)		71		68
Total other liabilities	$	295	$	295

(1)

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

(2)

Represents the long-term portion of accrued litigation, which is discussed further in “Note 16 – Commitments and Contingent Liabilities”.

(3)

Represents the long-term portion of asset retirement obligations, which totaled $77 and $76 when combined with the current portion at September 30, 2021 and December 31, 2020, respectively, as disclosed in “Note 13 – Other Accrued Liabilities”. For the nine months ended September 30, 2021, liabilities incurred during the period, reduction in estimated cash outflows, liabilities settled in the current period and accretion expense are not material.

(4)

Miscellaneous primarily includes an accrued indemnification liability of $34 and $37 at September 30, 2021 and December 31, 2020, respectively.

Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Note 16. Commitments and Contingent Liabilities

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 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 up to an aggregate $4,000. 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 or expensed as incurred with respect to period costs, such as legal expenses. For the three and nine months ended September 30, 2021, the Company incurred expenditures subject to cost-sharing as Qualified Spend under the MOU of approximately $30 and $72, respectively, half of which is subject to recovery from DuPont and Corteva. In the three and nine months ended September 30, 2021, the Company recognized $21 of Qualified Spend recovery from DuPont and Corteva, associated with the Company’s Qualified Spend for the first and second quarters of 2021.  The $30 of Qualified Spend expenditures in the third quarter of 2021 is subject to review. A receivable will be recorded upon completion of that review process.

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 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 and restricted cash equivalents on its consolidated balance sheets. As per the terms of the MOU, the Company deposited $100 into an escrow account in September 2021, which is recognized as restricted cash and restricted cash equivalents on its consolidated balance sheets at September 30, 2021. 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.

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 September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Asbestos	$	34	$	34
PFOA (1)		22		50
All other matters (2)		32		4
Total accrued litigation	$	88	$	88

(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, which was paid during the first and second quarters of 2021.

(2)

At September 30, 2021, all other matters includes $25 associated with the Company’s portion of the costs to enter into a Settlement Agreement, Limited Release, Waiver and Covenant Not to Sue reflecting Chemours, DuPont, Corteva, EID and the State of Delaware’s agreement to settle and fully resolve claims alleged against the companies. For information regarding this matter, refer to “PFAS” within this “Note 16 – Commitments and Contingent Liabilities”.

The following table sets forth the current and long-term components of the Company’s accrued litigation and their balance sheet locations at September 30, 2021 and December 31, 2020.

	Balance Sheet Location	September 30, 2021		December 31, 2020
Accrued Litigation:
Current accrued litigation (1)	Other accrued liabilities (Note 13)	$	36	$	37
Long-term accrued litigation	Other liabilities (Note 15)		52		51
Total accrued litigation		$	88	$	88

(1)

At September 30, 2021, current accrued litigation includes $25 associated with the Company’s portion of the costs to enter into a Settlement Agreement, Limited Release, Waiver and Covenant Not to Sue reflecting Chemours, DuPont, Corteva, EID and the State of Delaware’s agreement to settle and fully resolve claims alleged against the companies. For information regarding this matter, refer to “PFAS” within this “Note 16 – Commitments and Contingent Liabilities”. 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, which was paid during the first and second quarters of 2021.

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 16 – Commitments and Contingent Liabilities”.

Asbestos

In the Separation, EID assigned its asbestos docket to Chemours. At September 30, 2021 and December 31, 2020, there were approximately 1,000 and 1,100 lawsuits pending against EID alleging personal injury from exposure to asbestos, respectively. 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 September 30, 2021 and December 31, 2020, Chemours had an accrual of $34 related to these matters.

Benzene

In the Separation, EID assigned its benzene docket to Chemours. At September 30, 2021 and December 31, 2020, there were 20 and 17 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.

In May 2021, the Company and EID filed suit in Delaware state court against multiple insurance companies for breach of their contractual obligations to indemnify Chemours and EID against liabilities, costs and losses relating to benzene litigation which are covered under liability insurance policies purchased by EID during the period 1967 to 1986. EID and Chemours are seeking payment of all costs and settlement amounts for past and future benzene cases falling under those policies. The outcome of this matter is not expected to have a material impact on Chemours’ results of operations or financial position.

PFOA

Chemours does not, and has never, used “PFOA” (collectively, perfluorooctanoic acids and its salts, including the ammonium salt) as a polymer processing aid nor 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 September 30, 2021 and December 31, 2020, Chemours maintained accruals of $22 and $21, 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. Through September 30, 2021, 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 $22 and $21 was accrued for these matters at September 30, 2021 and December 31, 2020, 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 (“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. The cost-sharing agreement entered concurrently with the First MDL Settlement has been superseded by the binding MOU addressing certain PFAS matters and costs. For more information on this matter refer to “Litigation Overview” within this “Note 16 – 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 first 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 then filed and pending cases, as well as additional pre-suit claims, under which those cases and claims of settling plaintiffs were resolved for approximately $83 (the “Second MDL Settlement”). Chemours contributed approximately $29, and DuPont and Corteva each contributed approximately $27 to the Second MDL Settlement. During the nine months ended September 30, 2021, Chemours made payments of $29 associated with the Second MDL Settlement, which was accrued as of December 31, 2020.

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. In March 2021, the trial court issued post trial rulings which reduced the consortium damages to $0.25. The Company has appealed 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 nor sold aqueous film forming foam (“AFFF”). Numerous defendants, including EID and Chemours have been named in approximately 1,700 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.

In March 2021, ten water provider cases within the AFFF MDL were approved by the court for purposes of commencing initial discovery (Tier One discovery) and in October 2021, the court approved three of these cases for additional discovery (Tier Two discovery). Upon conclusion of Tier Two discovery, one of the three water provider cases will be selected for the first bellwether trial, with the case being called for jury selection and/or trial on or after January 1, 2023.

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, Mississippi, Alaska, and Pennsylvania 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 of natural resources. The lawsuits include counts for fraudulent transfer.

Chemours has engaged with the State of Delaware regarding potential similar causes of action for PFAS and other contaminants. On July 13, 2021, Chemours, DuPont, Corteva, and EID entered into a settlement agreement with the State of Delaware to settle such potential claims, including for environmental releases or sales of products containing PFAS or other known contaminants. Under the agreement, the companies shall make a payment in the total amount of $50 to the State of Delaware, which shall be treated as Qualified Spend under the MOU, of which Chemours shall contribute $25, which shall be utilized to fund a Natural Resources and Sustainability Trust (the “Trust”) to be used for environmental restoration and enhancement of resources, sampling and analysis, community environmental justice and equity grants, and other natural resource needs. The Company will make its portion of the contribution following the establishment of the Trust by the state. If the companies enter into a proportionally similar agreement to settle or resolve claims of another state for PFAS-related natural resource damages, for an amount greater than $50, the companies may be required to make one or more supplemental payment(s) directly to the Trust, with such payment(s) not to exceed $25 in the aggregate. At this time, the Company has concluded the probability of loss as to any supplemental payment(s) under the settlement agreement to be remote.

Other PFAS Matters

EID has also been named in approximately 40 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. This lawsuit has since been dismissed.

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, 13 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, eight lawsuits representing approximately 50 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, punitive damages, and personal injury. 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, five lawsuits were filed in New Jersey federal court by parents of adult children alleging that exposure to PFAS and other chemicals, including two suits by parents on behalf of their adult children claiming pre-natal exposure resulting in the children’s cognitive delays, neurological, genetic and autoimmune conditions. Plaintiffs seek 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 alleges products liability, negligence, nuisance, trespass, and fraudulent transfer. Plaintiff seeks 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 state 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. The case has been removed to federal court and remanded back to state court.

In February 2021, the City of Corona, California and the Corona Utility Authority filed a lawsuit in California state court against several defendants, including Chemours and DuPont, alleging manufacturers of PFOA and PFOS are responsible for contaminating the drinking water supply. The lawsuit alleges product liability, negligence, nuisance, trespass, state law claims and fraudulent transfer. Plaintiff seeks injunctive relief, as well as compensatory and punitive damages. The case was removed to federal court and then remanded back to state court.

In October 2021, the Atascadero Mutual Water Company in San Luis Obispo County, California filed a lawsuit in California state court against defendants, including EID and Chemours, alleging damages to drinking water supply from PFAS releases, including PFOA and PFOS, into the environment. The lawsuit alleges products liability, negligence, nuisance, trespass, fraudulent concealment of discharge and state statutory claims. Plaintiff seeks compensatory and statutory damages, including for repair, restoration and abatement of pollution, declaratory and injunctive relief, punitive damages, and attorney fees.

In April 2021, Chemours, along with DuPont and Corteva entities, received a civil summons filed before the Court of Rotterdam by four municipalities (Dordrecht, Papendrecht, Sliedrecht and Molenlanden) seeking liability declarations relating to the Dordrecht site’s operations and emissions. Chemours is reviewing the summons and preparing a statement of defense to be filed in the fourth quarter of 2021. At this time, management believes that a loss related to this matter is remote.

Chemours Washington Works discharges, through outfalls at the site, wastewater and stormwater pursuant to a National Pollutant Discharge Elimination System (“NPDES”) permit issued by the West Virginia Department of Environmental Protection (“WV DEP”). In connection with actions being taken by Chemours to comply with certain NPDES effluent limits, including for PFOA and hexafluoropropylene oxide dimer acid, Chemours submitted a permit modification to WV DEP relating to groundwater abatement for certain process water used at the facility, a temperature reduction project and realigning discharge flows to certain outfalls. In July 2021, the EPA provided a specific objection to the draft modification based on Clean Water Act (“CWA”) regulations and requirements. Chemours is reviewing the objections with WV DEP and will seek to resolve EPA’s objections. In August 2021, WV DEP issued a NPDES permit modification to provide for the start-up of an abatement unit at the facility and to extend compliance dates for certain limits to December 2021 due to delays from the COVID-19 pandemic.

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 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, Inc., 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, subject to the terms of the MOU.

PFOA and PFAS Summary

With the exception of the matters noted otherwise 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. In one of the six lawsuits, pursuant to a March 2021 court decision, there are no current pending claims against EID or Chemours. In three of the other lawsuits, pursuant to August 2021 and September 2021 court decisions, the court granted defendants’ motion to dismiss and plaintiffs may file a motion for leave to file an amended complaint.

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. On November 1, 2021, those derivative lawsuits filed in the Delaware Court of Chancery were dismissed in their entirety. The dismissal is subject to appeal.

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 has a Mining Solutions facility in Gomez Palacio, Durango, Mexico, currently under construction and is included in the Mining Solutions Transaction. In connection with the construction of 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 received a favorable ruling in June 2021.

At September 30, 2021 and December 31, 2020, the Company had $157 and $146 of long-lived assets under construction at the facility, all of which were classified as held for sale at September 30, 2021.

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 believed that the lawsuit lacked merit, and that the Company’s actions were consistent with its rights under the provisions of the contract. In June 2021, Iluka Resources Limited and Chemours reached a settlement, which did not 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 ownership was transferred to Chemours under the Separation-related agreements or at sites where EID-generated waste was disposed before the 2015 separation. 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.

The following table sets forth the components of the Company’s environmental remediation liabilities at September 30, 2021 and December 31, 2020 for the five sites that are deemed the most significant by management, including Fayetteville as further discussed below.

	September 30, 2021		December 31, 2020
Chambers Works, Deepwater, New Jersey (1)	$	27	$	20
East Chicago, Indiana		10		11
Fayetteville Works, Fayetteville, North Carolina (2)		351		194
Pompton Lakes, New Jersey		42		42
USS Lead, East Chicago, Indiana (3)		24		12
All other sites		102		111
Total environmental remediation	$	556	$	390

(1)

In the first quarter of 2021, in connection with ongoing discussions with the EPA and NJ DEP relating to such remaining work as well as the scope of remedial programs and investigation relating to the Chambers Works site, the Company recorded adjustments of $7 related to the remediation estimate associated with certain areas of the site relating to historic industrial activity as well as ongoing remedial programs.

(2)

In the second quarter of 2021, the Company recorded an additional $175 associated with on-site surface water and groundwater remediation at Fayetteville. For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 16 – Commitments and Contingent Liabilities”.

(3)

In the third quarter of 2021, the Company recorded an additional $9 to resolve the claims asserted by EPA related to past indirect costs associated with the 2012 Record of Decision (“ROD”), as amended, and the 2014 agreement entered into with EPA and the State of Indiana.

The following table sets forth the current and long-term components of the Company’s environmental remediation liabilities at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Current environmental remediation	$	161	$	95
Long-term environmental remediation		395		295
Total environmental remediation	$	556	$	390

Typically, the timeframe 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 $670 above the amount accrued at September 30, 2021.

Chemours incurred environmental remediation expenses of $28 and $241 for the three and nine months ended September 30, 2021, respectively, and $14 and $53 for the three and nine months ended September 30, 2020, 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 including the EPA.

On October 18, 2021, the EPA released its PFAS Strategic Roadmap, identifying a comprehensive approach to addressing PFAS. The PFAS Strategic Roadmap sets timelines by which EPA plans to take specific actions through 2024, including establishing a national primary drinking water regulation for PFOA and PFOS and taking Effluent Limitations Guidelines actions to regulate PFAS discharges from industrial categories among other actions. As provided under its roadmap, EPA also released on the same day its National PFAS Testing Strategy, under which the agency will identify and select certain PFAS compounds for which it will require PFAS manufacturers to conduct testing pursuant to the Toxic Substances Control Act (“TSCA”) orders. On October 25, 2021, EPA published a final toxicity assessment for GenX compounds that decreased the draft reference dose for GenX compounds based on EPA’s review of new studies and analyses. In connection with the toxicity assessment, the EPA indicated they will also develop in the Spring of 2022 non-regulatory drinking water health advisories for PFAS compounds, including GenX compounds. The Company is currently evaluating the impact of EPA’s final toxicity assessment for GenX compounds, and the development of an associated drinking water health advisory, to its manufacturing operations and off-site and on-site remediation obligations. It is reasonably possible that additional costs could be incurred in connection with EPA’s actions, however, the Company cannot estimate the potential impact or additional cost due to the uncertainties on the potential drinking water health advisories. The environmental remediation liabilities recorded for Fayetteville as of September 30, 2021 are based upon the existing Consent Order and Addendum from the North Carolina Department of Environmental Quality (“NC DEQ”) discussed in detail below.

Consent Order with NC DEQ

In September 2017, the NC DEQ issued a 60-day notice of intent to suspend the 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 CWA and 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 (“CAP”) that complies with North Carolina’s groundwater standards and guidance provided by NC DEQ. At a minimum, the CAP 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 September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
On-site remediation	$	296	$	140
Off-site groundwater remediation		55		54
Total Fayetteville environmental remediation	$	351	$	194

The following table sets forth the current and long-term components of the Company’s accrued environmental remediation liabilities related to PFAS at Fayetteville at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Current environmental remediation	$	105	$	39
Long-term environmental remediation		246		155
Total Fayetteville environmental remediation	$	351	$	194

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%. On March 31, 2021, Chemours reported to NC DEQ the results of testing that occurred in January 2021 which continued to show the 99.999% efficiency. 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. In September 2021, the Company entered into an agreement with Bladen County, North Carolina to fund public water system upgrades and connections associated with providing permanent replacement drinking water supplies under the CO.

On November 3, 2021, NC DEQ notified Chemours of the potential need to revise its off-site drinking water program under the CO in light of EPA’s recently published final toxicity assessment for GenX compounds and plan to develop a drinking water health advisory in the Spring of 2022. The Company cannot estimate the potential impact or additional cost due to the uncertainties on the potential EPA drinking water health advisories. Also on November 3, 2021, NC DEQ sent a notice to Chemours regarding PFAS contamination from the Cape Fear River of groundwater monitoring wells and water supply wells in New Hanover County and potentially three other downstream counties based on new sampling data by NC DEQ and its determination of Chemours’ obligations for such contamination. NC DEQ directed Chemours to submit, within 90 days of receipt of the notice, for its review and approval a comprehensive groundwater contamination assessment in such counties, as well as, an updated drinking water program to provide for sampling under the CO in such counties. Chemours is currently evaluating these matters and their potential impact cannot be reasonably estimated at this time due to significant uncertainties, including the final determination of EPA’s drinking water health advisory, the scope of the Company’s obligations under the CO, the extent of assessment or expanded drinking water program, and the number of potentially eligible participants, if any, and level of participation. The Company is not able to estimate the potential impact of these matters at this time, and accordingly, has not recorded any additional liabilities or increased its high-end estimates related to these matters. The potential outcome of these matters could have an adverse effect on the Company’s financial position, results of operations and cash flows.

For the three and nine months ended September 30, 2021, the Company accrued $6 and $15, respectively, and for the three and nine months ended September 30, 2020, the Company accrued $9 and $27, respectively, for off-site groundwater testing and water treatment system installations at additional qualifying third-party properties in the vicinity surrounding Fayetteville. 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 $55 of disbursements related to off-site replacement drinking water supplies and toxicity studies will be made 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 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 and Addendum objectives related to the impact of site surface water and groundwater from historical operations.

In the fourth quarter of 2019, the Company completed and submitted its Cape Fear River PFAS Loading Reduction Plan - Supplemental Information Report and its 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 a groundwater extraction system to be completed by March 15, 2023.

Following issuance of an NPDES permit by NC DEQ on September 18, 2020, the Company began operation of a capture and treatment system from the site’s old outfall channel on September 30, 2020. During the first quarter of 2021, the operation of the old outfall treatment system was interrupted on two occasions, and notice was provided to NC DEQ of the low treatment flow conditions through the system. On January 26, 2021, the Company received an NOV from NC DEQ, alleging violations of the CO and the NPDES water permit arising from the design and operation of the treatment system related to the old outfall. The Company and its third-party service provider have taken, and continue to take, interim actions intended to improve the operation of the old outfall treatment system and address challenges posed by substantial rain events, sediment loading into the system, and variability in water influent conditions. In addition, the Company and its third-party service provider are actively working on long-term enhancements to the treatment system based on learnings from the recent challenges. These enhancements will, or may include, the construction of a holding pond, installation of new ultra-filtration units, a sediment trap to manage sediment flow in the stream channel, alternate equipment to remove solids created during water pretreatment, and enhancement of the carbon absorption system. An incremental $60 was accrued in the second quarter of, 2021, representing approximately $3 per year for 20 years of estimated operation of the system, primarily related to the probable enhancements and the long-term operation of the water treatment system in accordance with the requirements of the CO.

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.

In the second quarter of 2021, work commenced on the detailed engineering design of the barrier wall and refinement of models for the planned groundwater extraction system. Engineering designs for our major construction projects are typically reviewed at 30, 60 and 90% complete. In June 2021, the Company reviewed the 30% complete design and associated preliminary vendor estimates for the construction and operation of a barrier wall and groundwater treatment system at Fayetteville. In August 2021, the Company reviewed the 60% complete design and associated updated preliminary vendor estimates, which was submitted to NC DEQ for review and approval. There were no changes in estimate upon completing the review of the 60% design. Additionally, applications for the necessary permit for the groundwater extraction system have been submitted. A 90% complete design is required to be submitted to NC DEQ by March 31, 2022 for their review and approval.

The current planned construction site of the future barrier wall, that will address both on-site groundwater and long-term seep remediation, is expected to be located at an approximately 30 feet higher elevation above the Cape Fear River as compared to the initial, conceptual design that was prepared in support of the CAP submission to NC DEQ on December 31, 2019, which addressed groundwater only. The CAP submission unit cost estimate was the principal basis of unit costs for our liability estimates through March 31, 2021. It was determined in the quarter ended June 30, 2021, based upon the 30% design information completed during the quarter, that there was significantly increased construction complexity and related vendor and other design costs to be incurred. For example, the steep slope of the revised construction site results in the depth of the wall increasing from the original estimates of approximately 65 feet to approximately 85 feet below ground along most of its length. Construction of approximately 64 pumping wells, a more than 50% increase from the conceptual design, are expected to be required to extract groundwater for treatment based on studies of groundwater flows that were completed in May 2021. The wells will also need to be drilled deeper into the ground based on the revised location. A 2-mile access road, with retaining walls above and below the road to reduce slope erosion and landslides, will now be required for large, heavy construction equipment to access the barrier wall location safely. The estimated cost for construction as a result of these changes is based on third-party contractor estimates provided in late May 2021. Together, all these modifications to the design resulted in an additional $49 accrued for construction of the barrier wall in the quarter ended June 30, 2021.

The volume of groundwater, seep water, and stormwater (up to a 0.5 inch rain event in any 24 hours period per the Addendum) intercepted for treatment is estimated to be up to a maximum of 1,500 gallons per minute (“gpm”) based on groundwater flow modeling completed in the second quarter of 2021. Until the pre-design investigation and groundwater modeling was complete, the volume of water captured for treatment was estimated to be approximately 1,200 gpm, and the pretreatment requirements to remove dissolved solids had not been determined. Hence, the Company determined in the second quarter of 2021 that construction of a larger treatment plant than previously considered in the conceptual design and previous cost estimates was required. Consistent with prior periods, the Company accrued 20 years of ongoing monitoring and maintenance for Fayetteville environmental remediation systems based on the CO and Addendum. The revised estimate to process higher volumes of groundwater than originally contemplated resulted in a change in estimate of $60 being recorded in the quarter ended June 30, 2021 related to estimated higher power consumption, ongoing monitoring, pretreatment, filtering supplies, principally carbon and regular maintenance of the system over a 20-year period of estimated operation starting in 2023.

Accordingly, as discussed above, in the three months ended June 30, 2021, the Company revised, in accordance with ASC 250 – Accounting Changes and Error Corrections, its estimated liability to comply with the CO and Addendum, and an incremental $49 was accrued related to the construction of the barrier wall and an additional $60 related to the future operation of the groundwater extraction and treatment system. In accordance with ASC 410 – Asset Retirement and Environmental Obligations, these amounts were recorded as a component of cost of goods sold as the Company only capitalizes environmental costs if the costs extend the useful life of the property, increase the property’s capacity, and/or reduce or prevent contamination from future operations.

On September 15, 2021, the Company received a ‘conditional approval’ of the 60% design of the barrier wall and groundwater extraction and treatment system which included comments that NC DEQ requested the Company to address within forty-five days (i.e., by October 30). The Company responded to the comments on October 5, 2021. The Company believes that the design of the barrier wall and groundwater extraction and treatment system meets the requirements for this project under the Addendum. However, it is reasonably possible that additional costs could be incurred for the project, or that the 90% design completion or project construction work be delayed, pending resolution of NC DEQ comments. These costs are not estimable at this time due to the uncertainty around the objective and scope of NC DEQ comments as well as additional design basis that may be required. The NC DEQ’s comments also addressed other onsite remediation activities under the CO, but unrelated to the design of the barrier wall and groundwater treatment system. It is reasonably possible that additional costs could be incurred to address the areas raised by NC DEQ, but cannot be estimated at this time as it would require additional pre-design investigation work that has not yet been scoped or performed.

Pre-construction site preparation activities are in progress and construction of the water treatment facility is expected to commence before the end of 2021. Construction of the barrier wall is expected to commence in 2022 with completion planned in the first quarter of 2023. At September 30, 2021, several significant uncertainties remain, principally related to the resolution of comments received from NC DEQ on the 60% design, an extension of the barrier wall along Willis Creek at the northern end of the site, additional wetlands mitigation fees, finalization of the volume of water to be treated, contract negotiations with key construction and water treatment vendors and the estimated future time period of OM&M. The Company believes that extension of the barrier wall along the Willis Creek is technically impracticable and not necessary to comply with the terms of the CO and Addendum. Accordingly, the Company has increased the upper range of its cost estimates for the barrier wall and groundwater OM&M from $111 at December 31, 2020 to $316 at September 30, 2021, of which $172 is already accrued. The Company has not accrued for the incremental costs in the upper range, including the extension of the barrier wall. Estimated costs for the barrier wall extension included in the upper range of the cost estimates is approximately $30.

The final cost of the on-site groundwater treatment system primarily depends on receiving timely NC DEQ design and permit approvals and thus the timely finalization of certain significant design details, notably the actual barrier wall location, depth, and length, number and configuration of extraction wells, water extraction rates and estimated carbon usage. Pending resolution of NC DEQ comments on the 60% design, the engineering design is expected to be approximately 90% complete in the fourth quarter of 2021 or early first quarter of 2022, which will form the basis of a submission for the approval by NC DEQ which is required to be submitted by the Company no later than March 31, 2022. Per the Addendum, the NC DEQ shall use best efforts to complete its review and notify the Company whether the design is approved within 30 days after submittal. If not approved within 30 days, subsequent deadlines shall be extended by the time required for NC DEQ approval in excess of 30 days. Unanticipated schedule delays or other factors beyond the Company’s control could lead to further increases in the cost of the barrier wall and groundwater treatment system, which could be material. Changes in estimates are recorded in results of operations in the period that the events and circumstances giving rise to such changes occur. If the Company does not achieve project completion of the barrier wall and groundwater treatment system by March 15, 2023, the Addendum specifies penalties of $0.15 plus an additional $0.02 per week until installation is completed.

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 $296 and $140 at September 30, 2021 and December 31, 2020, respectively, 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.

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 September 30, 2021, 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. In March 2021, the Company received a compliance order associated with the June 2020 NOV. The NOV has been resolved and the matter is now closed.

In August 2021, the Company received a NOV from NC DEQ alleging violations of the facility’s Title V air permit for failure to reduce facility-wide annual emissions of GenX compounds and failure to properly operate and maintain a carbon absorber unit. The Company provided a response to the NOV in September 2021. In October 2021, the Company received two civil penalty assessments totaling $0.3 associated with the NOV. The Company is reviewing the penalty assessment.

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 1,000 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 natural resource damages matter filed by the State of North Carolina (as discussed within the “PFAS” section of this “Note 16 – 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 and then the two lawsuits filed on behalf of individuals were remanded back to state 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.

Equity

9 Months Ended

Sep. 30, 2021

Stockholders Equity Note [Abstract]

Equity

Note 17. Equity

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 in 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.

Under the 2018 Share Repurchase Program, the Company purchased an additional 2,087,534 shares of Chemours’ issued and outstanding common stock during the third quarter of 2021, which amounted to approximately $67 at an average share price of $32.28 per share. During the nine months ended September 30, 2021, the Company purchased 2,510,807 shares of Chemours’ issued and outstanding common stock, which amounted to approximately $82 at an average share price of $32.76 per share. The aggregate amount of Chemours’ common stock that remained available for purchase under the 2018 Share Repurchase Program at September 30, 2021 was $346.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Stock-based Compensation

9 Months Ended

Sep. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation

Note 18. Stock-based Compensation

The Company’s total stock-based compensation expense amounted to $3 and $24 for the three and nine months ended September 30, 2021, respectively, and $3 and $12 for the three and nine months ended September 30, 2020, respectively.

Stock Options

During the nine months ended September 30, 2021, Chemours granted approximately 1,150,000 non-qualified stock options to certain of its employees. These awards will vest over a three-year period and expire 10 years from the date of grant. The fair value of the Company’s stock options is based on the Black-Scholes valuation model.

The following table sets forth the weighted-average assumptions used at the respective grant dates to determine the fair value of the Company’s stock option awards that were granted during the nine months ended September 30, 2021.

	Nine Months Ended September 30, 2021
Risk-free interest rate		0.91	%
Expected term (years)		6.00
Volatility		63.85	%
Dividend yield		4.16	%
Fair value per stock option	$	9.78

The Company recorded $2 and $9 in stock-based compensation expense specific to its stock options for the three and nine months ended September 30, 2021, respectively, and $1 and $8 for the three and nine months ended September 30, 2020, respectively. At September 30, 2021, approximately 7,430,000 stock options remained outstanding.

Restricted Stock Units

During the nine months ended September 30, 2021, Chemours granted approximately 480,000 restricted stock units (“RSUs”) to certain of its employees. These awards will vest over a three-year period and, upon vesting, convert one-for-one to Chemours’ common stock. The fair value of the RSUs is based on the market price of the underlying common stock at the grant date.

The Company recorded $2 and $9 in stock-based compensation expense specific to its RSUs for the three and nine months ended September 30, 2021, respectively, and $1 and $5 for the three and nine months ended September 30, 2020, respectively. At September 30, 2021, approximately 1,460,000 RSUs remained non-vested.

Performance Share Units

During the nine months ended September 30, 2021, Chemours granted approximately 310,000 performance share units (“PSUs”) to key senior management employees. Upon vesting, these awards 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.

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 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 conditions are satisfied.

The Company recorded reductions of stock-based compensation expense of $1 specific to its PSUs for the three months ended September 30, 2021 due to forfeitures of awards during the quarter, and recorded stock-based compensation expense of $6 specific to its PSUs for the nine months ended September 30, 2021 based on its assessment of Company performance relative to award-based financial objectives. The Company recorded stock-based compensation expense of $1 and reductions of stock-based compensation of $1 specific to its PSUs for the three and nine months ended September 30, 2020, respectively. At September 30, 2021, approximately 756,000 PSUs at 100% of the target amount remained non-vested.

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. During the first and third quarters of 2021, the Company executed open market transactions to purchase the Company’s common stock on behalf of ESPP participants. Total purchases amounted to $1 for the three and nine months ended September 30, 2021, which approximated 42,000 shares of Chemours’ common stock purchased during the nine months ended September 30, 2021.

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 19. Accumulated Other Comprehensive Loss

The following table sets forth the changes and after-tax balances of the Company’s components comprising accumulated other comprehensive loss.

	Net Investment Hedge			Cash Flow Hedge			Cumulative Translation Adjustment			Defined Benefit Plans			Total
Balance at January 1, 2021	$	(76	)	$	(8	)	$	(120	)	$	(106	)	$	(310	)
Other comprehensive loss		34			8			(71	)		7			(22	)
Balance at September 30, 2021	$	(42	)	$	—		$	(191	)	$	(99	)	$	(332	)

Balance at January 1, 2020	$	(10	)	$	2		$	(231	)	$	(110	)	$	(349	)
Other comprehensive loss		(30	)		(7	)		(19	)		3			(53	)
Balance at September 30, 2020	$	(40	)	$	(5	)	$	(250	)	$	(107	)	$	(402	)

Financial Instruments

9 Months Ended

Sep. 30, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Financial Instruments

Note 20. Financial Instruments

Objectives and Strategies for Holding Financial Instruments

In the ordinary course of business, Chemours enters into contractual arrangements to reduce its exposure to foreign currency 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.

Net Monetary Assets and Liabilities Hedge – Foreign Currency Forward Contracts

At September 30, 2021, the Company had 18 foreign currency forward contracts outstanding with an aggregate gross notional U.S. dollar equivalent of $449, and an average maturity of one month. 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. Chemours recognized net losses of $1 and $12 for the three and nine months ended September 30, 2021, respectively, and net gains of $10 and $14 for the three and nine months ended September 30, 2020, respectively, in other income (expense), net.

Cash Flow Hedge – Foreign Currency Forward Contracts

At September 30, 2021, the Company had 167 foreign currency forward contracts outstanding under its cash flow hedge program with an aggregate notional U.S. dollar equivalent of $176, and an average maturity of four months. 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. Chemours recognized pre-tax gains of $2 and $5 for the three and nine months ended September 30, 2021, respectively, and pre-tax losses of $2 and $1 for the three and nine months ended September 30, 2020 respectively, within accumulated other comprehensive loss. For the three and nine months ended September 30, 2021, $1 and $4 of loss was reclassified to the cost of goods sold from accumulated other comprehensive loss, respectively. For the three and nine months ended September 30, 2020, $1 and $5 of gain was reclassified to the cost of goods sold from accumulated other comprehensive loss, respectively.

The Company expects to reclassify an approximate $3 of net gain 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

At September 30, 2021 and 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 gain of less than $1 and a pre-tax loss of less than $1 for the three and nine months ended September 30, 2021, and pre-tax losses of less than $1 and $3 for the three and nine months ended September 30, 2020, within accumulated other comprehensive loss. For the three and nine months ended September 30, 2021, less than $1 and $1 of loss was reclassified to interest expense, net from accumulated other comprehensive loss, respectively. For the three and nine months ended September 30, 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, based on the current market rate.

Net Investment Hedge – Foreign Currency Borrowings

The Company recognized pre-tax gains of $21 and $45 for the three and nine months ended September 30, 2021, respectively, and pre-tax losses of $32 and $40 for the three and nine months ended September 30, 2020, 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 three and nine months ended September 30, 2021 and 2020.

Fair Value of Derivative Instruments

The following table sets forth the fair value of the Company’s derivative assets and liabilities at September 30, 2021 and December 31, 2020.

		Fair Value Using Level 2 Inputs
	Balance Sheet Location	September 30, 2021		December 31, 2020
Asset derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Accounts and notes receivable, net (Note 8)	$	—	$	4
Foreign currency forward contracts designated as a cash flow hedge	Accounts and notes receivable, net (Note 8)		3		—
Total asset derivatives		$	3	$	4

Liability derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Other accrued liabilities (Note 13)	$	1	$	1
Foreign currency forward contracts designated as a cash flow hedge	Other accrued liabilities (Note 13)		—		4
Interest rate swaps designated as a cash flow hedge	Other accrued liabilities (Note 13)		2		3
Total liability derivatives		$	3	$	8

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 three and nine months ended September 30, 2021 and 2020.

	Gain (Loss) Recognized In
										Accumulated
										Other
	Cost of			Interest			Other Income			Comprehensive
Three Months Ended September 30,	Goods Sold			Expense, Net			(Expense), Net			Loss
2021
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—		$	(1	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		(1	)		—			—			2
Interest rate swaps designated as a cash flow hedge		—			—			—			—
Euro-denominated debt designated as a net investment hedge		—			—			—			21

2020
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—		$	10		$	—
Foreign currency forward contracts designated as a cash flow hedge		1			—			—			(2	)
Interest rate swaps designated as a cash flow hedge		—			—			—			—
Euro-denominated debt designated as a net investment hedge		—			—			—			(32	)

	Gain (Loss) Recognized In
										Accumulated
										Other
	Cost of			Interest			Other Income			Comprehensive
Nine Months Ended September 30,	Goods Sold			Expense, Net			(Expense), Net			Loss
2021
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—		$	(12	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		(4	)		—			—			5
Interest rate swaps designated as a cash flow hedge		—			(1	)		—			—
Euro-denominated debt designated as a net investment hedge		—			—			—			45

2020
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—		$	14		$	—
Foreign currency forward contracts designated as a cash flow hedge		5			—			—			(1	)
Interest rate swaps designated as a cash flow hedge		—			—			—			(3	)
Euro-denominated debt designated as a net investment hedge		—			—			—			(40	)

Long-term Employee Benefits

9 Months Ended

Sep. 30, 2021

General Discussion Of Pension And Other Postretirement Benefits [Abstract]

Long-term Employee Benefits

Note 21. Long-term Employee Benefits

Chemours sponsors defined benefit pension plans for certain of its employees in various jurisdictions outside of the U.S. The Company’s net periodic pension (cost) income is based on estimated values and the use of assumptions about the discount rate, expected return on plan assets, and the rate of future compensation increases received by its employees.

The following table sets forth the Company’s net periodic pension (cost) income and amounts recognized in other comprehensive income for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Service cost	$	(4	)	$	(4	)	$	(12	)	$	(11	)
Interest cost		(1	)		(2	)		(4	)		(6	)
Expected return on plan assets		5			4			15			12
Amortization of actuarial loss		(2	)		(2	)		(6	)		(6	)
Amortization of prior service gain		—			1			2			2
Settlement loss		—			(1	)		—			(1	)
Curtailment gain		—			1			—			1
Total net periodic pension cost	$	(2	)	$	(3	)	$	(5	)	$	(9	)

Net gain	$	—		$	1		$	—		$	1
Prior service cost		—			(1	)		—			(1	)
Amortization of actuarial loss		2			2			6			6
Amortization of prior service gain		—			(1	)		(2	)		(2	)
Settlement loss		—			1			—			1
Curtailment gain		—			4			—			4
Effect of foreign exchange rates		2			(3	)		4			(4	)
Benefit recognized in other comprehensive income		4			3			8			5
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$	2		$	—		$	3		$	(4	)

The Company made cash contributions of $4 and $12 to its defined benefit pension plans during the three and nine months ended September 30, 2021, respectively, and $3 and $17 for the three and nine months ended September 30, 2020, respectively, and expects to make additional cash contributions of $4 to its defined benefit pension plans during the remainder of 2021. The Company’s future contributions to its defined benefit pension plans are dependent on market-based discount rates, and, as stated in “Note 1 – Background, Description of the Business, and Basis of Presentation” to these interim consolidated financial statements, may differ due to the impacts of the COVID-19 pandemic on the macroeconomic environment.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2021

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

Note 22. Supplemental Cash Flow Information

The following table provides a reconciliation of cash and cash equivalents, as reported on the Company’s consolidated balance sheets, to cash, cash equivalents, restricted cash and restricted cash equivalents, as reported on the Company’s consolidated statements of cash flows.

	September 30, 2021		December 31, 2020
Cash and cash equivalents	$	1,031	$	1,105
Restricted cash and restricted cash equivalents (1)		100		—
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	1,131	$	1,105

(1)

Restricted cash and restricted cash equivalents balance includes cash and cash equivalents deposited in an escrow account as per the terms of the Company’s MOU agreement which is further discussed in “Note 16 – Commitments and Contingent Liabilities”.

Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

Note 23. 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.

Segment net sales include transfers to another reportable segment. Certain products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products. These product transfers were limited and were not significant for each of the periods presented. Depreciation and amortization includes depreciation on research and development facilities and the amortization of other intangible assets, excluding any write-downs of assets.

Adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) is the primary measure of segment profitability used by the 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 three and nine months ended September 30, 2021 and 2020.

	Titanium Technologies		Thermal & Specialized Solutions		Advanced Performance Materials		Chemical Solutions		Segment Total
Three Months Ended September 30, 2021
Net sales to external customers	$	908	$	318	$	356	$	98	$	1,680
Adjusted EBITDA		223		105		71		15		414
Depreciation and amortization		31		15		21		3		70

Three Months Ended September 30, 2020
Net sales to external customers	$	612	$	293	$	240	$	88	$	1,233
Adjusted EBITDA		129		105		7		12		253
Depreciation and amortization		32		13		22		6		73

	Titanium Technologies		Thermal & Specialized Solutions		Advanced Performance Materials		Chemical Solutions		Segment Total
Nine Months Ended September 30, 2021
Net sales to external customers	$	2,490	$	962	$	1,051	$	267	$	4,770
Adjusted EBITDA		611		315		196		43		1,165
Depreciation and amortization		95		45		65		14		219

Nine Months Ended September 30, 2020
Net sales to external customers	$	1,711	$	832	$	825	$	263	$	3,631
Adjusted EBITDA		361		249		101		45		756
Depreciation and amortization		95		40		66		16		217

Total Assets (1)
September 30, 2021	$	2,349	$	1,100	$	1,605	$	547	$	5,601
December 31, 2020		2,130		1,041		1,520		531		5,222

(1)

Total assets of the Company’s Chemical Solutions segment at September 30, 2021 includes assets classified as held for sale related to the sale of the Company’s Mining Solutions business, which is discussed further in “Note 3 – Acquisitions and Divestitures”.

Corporate and Other depreciation and amortization expense amounted to $8 and $23 for the three and nine months ended September 30, 2021, respectively, and $6 and $23 for the three and nine months ended September 30, 2020, respectively. Corporate and Other total assets amounted to $1,929 and $1,860 at September 30, 2021 and December 31, 2020, respectively.

The following table sets forth a reconciliation of segment Adjusted EBITDA to the Company’s consolidated net income (loss) before income taxes for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Segment Adjusted EBITDA	$	414		$	253		$	1,165		$	756
Corporate and Other expenses (excluding items below)		(42	)		(43	)		(159	)		(123	)
Interest expense, net		(45	)		(53	)		(142	)		(160	)
Depreciation and amortization		(78	)		(79	)		(242	)		(240	)
Non-operating pension and other post-retirement employee benefit income		2			1			7			2
Exchange gains (losses), net		3			(9	)		(2	)		(28	)
Restructuring, asset-related, and other charges (1)		(3	)		(9	)		(2	)		(37	)
Loss on extinguishment of debt		(20	)		—			(20	)		—
Gain on sales of assets and businesses		1			—			2			—
Natural disasters and catastrophic events (2)		—			—			(19	)		—
Transaction costs (3)		(2	)		—			(7	)		(2	)
Qualified spend recovery (4)		12			—			12			—
Legal and environmental charges (5,6)		(11	)		(1	)		(219	)		(12	)
Income before income taxes	$	231		$	60		$	374		$	156

(1)

Includes restructuring, asset-related, and other charges, which are discussed in further detail in “Note 5 – Restructuring, Asset-related, and Other Charges”.

(2)

Natural disasters and catastrophic events pertains to the total cost of plant repairs and utility charges in excess of historical averages caused by Winter Storm Uri.

(3)

In 2021, includes costs associated with the Company’s accounting, legal, and bankers’ transaction costs incurred in connection with the sale of its Mining Solutions business.

(4)

Qualified spend recovery represents costs and expenses that were previously excluded from Adjusted EBITDA, reimbursable by DuPont and/or Corteva as part of the Company's cost-sharing agreement under the terms of the MOU which is discussed in further detail in "Note 16 – Commitments and Contingent Liabilities".

(5)

Legal charges pertains to litigation settlements, PFOA drinking water treatment accruals, and other legal charges which are discussed in further detail in “Note 16 – Commitments and Contingent Liabilities” for further details.

(6)

In 2021, environmental charges pertains to management’s assessment of estimated liabilities associated with certain non-recurring environmental remediation expenses at various sites. For the nine months ended September 30, 2021, environmental charges include $169 related to the construction of the barrier wall, operation of the groundwater extraction and treatment system, and long-term enhancements to the old outfall treatment system at Fayetteville. In 2020, environmental charges pertains to management’s assessment of estimated liabilities associated with on-site remediation, off-site groundwater remediation, and toxicity studies related to Fayetteville. See “Note 16 – Commitments and Contingent Liabilities” for further details.

- 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

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+ Details

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2021
Accounting Policies [Abstract]
Assets and Liabilities Held for Sale	Assets and Liabilities Held for Sale The Company classifies long-lived assets or disposal groups as held for sale in the period when the following held for sale criteria are met: (i) the Company commits to a plan to sell; (ii) the long-lived asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such long-lived assets or disposal groups; (iii) an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; (iv) the sale is probable within one year; (v) the asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets and disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. The Company ceases depreciation, amortization, and interest for a disposal group upon it being classified as held for sale.
Restricted Cash and Restricted Cash Equivalents	Restricted Cash and Restricted Cash Equivalents The Company classifies cash and cash equivalents that are legally or contractually restricted for withdrawal or usage as restricted cash and restricted cash equivalents. At September 30, 2021, the restricted cash and restricted cash equivalents balance of $100 includes cash and cash equivalents deposited in an escrow account as per the terms of the Company’s Memorandum of Understanding (“MOU”) agreement which is further discussed in “Note 16 – Commitments and Contingent Liabilities”.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Guidance Issued and Not Yet Adopted Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the Financial Accounting Standards Board (“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 does not expect the impacts of adopting ASU No. 2020-04 to be material to its financial position, results of operations and cash flows. Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU No. 2021-08”), which requires contract assets and contract liabilities acquired in a business combination to be recognized in accordance with Topic 606 as if the acquirer had originated the contracts. The guidance will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impacts the adoption of this standard will have on its consolidated financial statements and related disclosures. Recently Adopted Accounting Guidance Simplifying the Accounting for Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”). 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. The Company adopted ASU No. 2019-12 on January 1, 2021, the effect of which was not material on its financial position, results of operations, and cash flows.

Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2021

Disposal Group, Held-for-sale, Not Discontinued Operations [Member]

Schedule of Carrying Amounts of Major Classes of Assets and Liabilities Classified as Held for Sale

The following table sets forth the carrying amounts of major classes of assets and liabilities classified as held for sale related to the sale of the Mining Solutions business at September 30, 2021.

	September 30, 2021
Accounts and notes receivable, net	$	26
Inventories		24
Property, plant, and equipment		481
Less: Accumulated depreciation		(185	)
Property, plant, and equipment, net		296
Operating lease right-of-use assets		7
Goodwill		51
Other assets		8
Assets held for sale	$	412

	September 30, 2021
Other accrued liabilities	$	3
Operating lease liabilities		5
Liabilities held for sale	$	8

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Net Sales (Tables)

9 Months Ended

Sep. 30, 2021

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 three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net sales by geographic region (1)
North America:
Titanium Technologies	$	275	$	203	$	730	$	571
Thermal & Specialized Solutions		171		151		486		415
Advanced Performance Materials		123		82		363		312
Chemical Solutions		55		52		138		158
Total North America		624		488		1,717		1,456
Asia Pacific:
Titanium Technologies		288		185		804		539
Thermal & Specialized Solutions		42		38		129		98
Advanced Performance Materials		158		104		448		330
Chemical Solutions		6		4		18		17
Total Asia Pacific		494		331		1,399		984
Europe, the Middle East, and Africa:
Titanium Technologies		229		135		626		382
Thermal & Specialized Solutions		67		75		243		235
Advanced Performance Materials		62		42		197		152
Chemical Solutions		4		6		13		17
Total Europe, the Middle East, and Africa		362		258		1,079		786
Latin America (2):
Titanium Technologies		116		89		330		219
Thermal & Specialized Solutions		38		29		104		84
Advanced Performance Materials		13		12		43		31
Chemical Solutions		33		26		98		71
Total Latin America		200		156		575		405
Total net sales	$	1,680	$	1,233	$	4,770	$	3,631

Net sales by segment and product group
Titanium Technologies:
Titanium dioxide and other minerals	$	908	$	612	$	2,490	$	1,711
Thermal & Specialized Solutions:
Refrigerants		244		229		756		667
Foam, propellants, and other		74		64		206		165
Advanced Performance Materials:
Fluoropolymers and advanced materials		356		240		1,051		825
Chemical Solutions:
Mining solutions		72		53		193		150
Performance chemicals and intermediates		26		35		74		113
Total net sales	$	1,680	$	1,233	$	4,770	$	3,631

(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 September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Accounts receivable - trade, net (1)	$	752	$	449
Deferred revenue		7		12
Customer rebates		69		69

(1)

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

9 Months Ended

Sep. 30, 2021

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 three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021			2020
Restructuring and other charges:
Employee separation charges	$	—	$	3	$	(2	)	$	18
Decommissioning and other charges		3		1		6			3
Total restructuring and other charges		3		4		4			21
Asset-related charges		—		5		—			16
Total restructuring, asset-related, and other charges	$	3	$	9	$	4		$	37

The following table sets forth the impacts of the Company’s restructuring programs to segment earnings for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021			2020
Restructuring charges:
Plant and product line closures:
Chemical Solutions	$	2	$	1	$	11		$	4
Corporate and Other		—		—		—			1
Total plant and product line closures		2		1		11			5
2017 Restructuring Program:
Corporate and Other		—		—		—			(1	)
Total 2017 Restructuring Program		—		—		—			(1	)
2019 Restructuring Program:
Thermal & Specialized Solutions		—		—		—			1
Advanced Performance Materials		—		—		—			2
Total 2019 Restructuring Program		—		—		—			3
2020 Restructuring Program:
Titanium Technologies		—		—		—			3
Thermal & Specialized Solutions		—		—		—			1
Advanced Performance Materials		—		1		(1	)		3
Chemical Solutions		—		—		—			1
Corporate and Other		—		2		—			6
Total 2020 Restructuring Program		—		3		(1	)		14
Total restructuring charges		2		4		10			21
Asset-related charges:
Advanced Performance Materials		—		5		—			5
Chemical Solutions		—		—		—			7
Corporate and Other		—		—		—			4
Total asset-related charges		—		5		—			16
Other charges:
Advanced Performance Materials		—		—		1			—
Chemical Solutions		1		—		(7	)		—
Total other charges		1		—		(6	)		—
Total restructuring, asset-related, and other charges	$	3	$	9	$	4		$	37

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 nine months ended September 30, 2021.

	Chemical Solutions Site Closures			2019 Restructuring Program			2020 Restructuring Program			Total
Balance at December 31, 2020	$	2		$	2		$	3		$	7
Charges (credits) to income		(1	)		—			(1	)		(2	)
Payments		—			(1	)		(2	)		(3	)
Balance at September 30, 2021	$	1		$	1		$	—		$	2

Other Income (Expense), Net (Tables)

9 Months Ended

Sep. 30, 2021

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 three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,					Nine Months Ended September 30,
	2021		2020			2021			2020
Leasing, contract services, and miscellaneous income	$	4	$	2		$	16		$	11
Royalty income (1)		1		1			8			9
Gain on sales of assets and businesses		1		—			2			—
Exchange gains (losses), net (2)		3		(9	)		(2	)		(28	)
Non-operating pension and other post-retirement employee benefit income (3)		2		1			7			2
Total other income (expense), net	$	11	$	(5	)	$	31		$	(6	)

(1)

Royalty income for the periods ended September 30, 2021 and 2020 is primarily from technology licensing.

(2)

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

(3)

Non-operating pension and other post-retirement employee benefit income represents the components of net periodic pension income (cost), excluding the service cost component.

Earnings Per Share of Common Stock (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net income attributable to Chemours	$	214	$	76	$	375	$	200
Denominator:
Weighted-average number of common shares outstanding - basic		165,113,024		164,762,621		165,627,861		164,556,139
Dilutive effect of the Company’s employee compensation plans		3,841,670		1,851,050		3,742,889		1,209,143
Weighted-average number of common shares outstanding - diluted		168,954,694		166,613,671		169,370,750		165,765,282

Basic earnings per share of common stock	$	1.30	$	0.46	$	2.26	$	1.22
Diluted earnings per share of common stock		1.27		0.46		2.21		1.21

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Average number of stock options		1,499,648		1,676,765		1,501,344		4,607,057

Accounts and Notes Receivable, Net (Tables)

9 Months Ended

Sep. 30, 2021

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 September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Accounts receivable - trade, net (1)	$	752	$	449
VAT, GST, and other taxes (2)		53		49
Other receivables (3)		26		13
Total accounts and notes receivable, net	$	831	$	511

(1)

(2)

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

(3)

Inventories (Tables)

9 Months Ended

Sep. 30, 2021

Inventory Net [Abstract]

Schedule of Inventories

The following table sets forth the components of the Company’s inventories at September 30, 2021 and December 31, 2020.

	September 30, 2021			December 31, 2020
Finished products	$	625		$	579
Semi-finished products		166			180
Raw materials, stores, and supplies		472			433
Inventories before LIFO adjustment		1,263			1,192
Less: Adjustment of inventories to LIFO basis		(247	)		(253	)
Total inventories	$	1,016		$	939

Property, Plant, and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2021

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 September 30, 2021 and December 31, 2020.

	September 30, 2021			December 31, 2020
Equipment	$	7,614		$	7,816
Buildings		1,171			1,198
Construction-in-progress		278			421
Land		108			111
Mineral rights		36			36
Property, plant, and equipment		9,207			9,582
Less: Accumulated depreciation		(6,080	)		(6,108	)
Total property, plant, and equipment, net	$	3,127		$	3,474

Other Assets (Tables)

9 Months Ended

Sep. 30, 2021

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 September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Capitalized repair and maintenance costs	$	153	$	198
Pension assets (1)		84		79
Deferred income taxes		158		95
Miscellaneous		24		33
Total other assets	$	419	$	405

(1)

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

Other Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Payables And Accruals [Abstract]

Schedule of Other Accrued Liabilities

The following table sets forth the components of the Company’s other accrued liabilities at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Employee separation costs	$	3	$	7
Accrued litigation (1)		36		37
Asset retirement obligations (2)		14		13
Income taxes		75		64
Customer rebates		69		69
Deferred revenue		2		7
Accrued interest		40		18
Operating lease liabilities		49		57
Miscellaneous (3)		73		103
Total other accrued liabilities	$	361	$	375

(1)

Represents the current portion of accrued litigation, which is discussed further in “Note 16 – Commitments and Contingent Liabilities”.

(2)

Represents the current portion of asset retirement obligations. The movements of which are discussed further in “Note 15 – Other Liabilities”.

(3)

Miscellaneous primarily includes accruals related to utility expenses, property taxes, an indemnification liability and other miscellaneous expenses.

Debt (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Components of Debt

The following table sets forth the components of the Company’s debt at September 30, 2021 and December 31, 2020.

	September 30, 2021			December 31, 2020
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	845		$	875
Tranche B-2 euro term loan due April 2025 (€338 at September 30, 2021 and €340 at December 31, 2020)		394			417
Senior unsecured notes:
7.000% due May 2025		—			750
4.000% due May 2026 (€450 at September 30, 2021 and December 31, 2020)		526			551
5.375% due May 2027		500			500
5.750% due November 2028		800			800
4.625% due November 2029		650			—
Finance lease liabilities		82			74
Financing obligation (1)		93			94
Total debt principal		3,890			4,061
Less: Unamortized issue discounts		(6	)		(7	)
Less: Unamortized debt issuance costs		(30	)		(28	)
Less: Short-term and current maturities of long-term debt		(25	)		(21	)
Total long-term debt, net	$	3,829		$	4,005

(1)

Schedule of Debt Principal Maturities

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

Remainder of 2021	$	3
2022		13
2023		13
2024		13
2025		1,197
Thereafter		2,476
Total principal maturities on debt	$	3,715

Estimated Fair Values of Senior Debt Issues

	September 30, 2021					December 31, 2020
	Carrying Value			Fair Value		Carrying Value			Fair Value
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	845		$	828	$	875		$	862
Tranche B-2 euro term loan due April 2025 (€338 at September 30, 2021 and €340 at December 31, 2020)		394			392		417			413
Senior unsecured notes:
7.000% due May 2025		—			—		750			774
4.000% due May 2026 (€450 at September 30, 2021 and December 31, 2020)		526			538		551			551
5.375% due May 2027		500			540		500			536
5.750% due November 2028		800			840		800			821
4.625% due November 2029		650			638		—			—
Total senior debt		3,715		$	3,776		3,893		$	3,957
Less: Unamortized issue discounts		(6	)				(7	)
Less: Unamortized debt issuance costs		(30	)				(28	)
Total senior debt, net	$	3,679				$	3,858

- 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
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+ Details

Other Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Other Liabilities Disclosure [Abstract]

Schedule of Other Liabilities

The following table sets forth the components of the Company’s other liabilities at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Employee-related costs (1)	$	104	$	108
Accrued litigation (2)		52		51
Asset retirement obligations (3)		63		63
Deferred revenue		5		5
Miscellaneous (4)		71		68
Total other liabilities	$	295	$	295

(1)

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

(2)

Represents the long-term portion of accrued litigation, which is discussed further in “Note 16 – Commitments and Contingent Liabilities”.

(3)

(4)

Miscellaneous primarily includes an accrued indemnification liability of $34 and $37 at September 30, 2021 and December 31, 2020, respectively.

Commitments and Contingent Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Commitments And Contingencies Disclosure [Abstract]

Schedule of Components of Accrued Litigation

The following table sets forth the components of the Company’s accrued litigation at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Asbestos	$	34	$	34
PFOA (1)		22		50
All other matters (2)		32		4
Total accrued litigation	$	88	$	88

(1)

(2)

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 September 30, 2021 and December 31, 2020.

	Balance Sheet Location	September 30, 2021		December 31, 2020
Accrued Litigation:
Current accrued litigation (1)	Other accrued liabilities (Note 13)	$	36	$	37
Long-term accrued litigation	Other liabilities (Note 15)		52		51
Total accrued litigation		$	88	$	88

(1)

Schedule of Components of Environmental Remediation Liabilities

	September 30, 2021		December 31, 2020
Chambers Works, Deepwater, New Jersey (1)	$	27	$	20
East Chicago, Indiana		10		11
Fayetteville Works, Fayetteville, North Carolina (2)		351		194
Pompton Lakes, New Jersey		42		42
USS Lead, East Chicago, Indiana (3)		24		12
All other sites		102		111
Total environmental remediation	$	556	$	390

(1)

(2)

(3)

Schedule of Current and Long-term Components of Environmental Remediation Liabilities

The following table sets forth the current and long-term components of the Company’s environmental remediation liabilities at September 30, 2021 and December 31, 2020.

	September 30, 2021		December 31, 2020
Current environmental remediation	$	161	$	95
Long-term environmental remediation		395		295
Total environmental remediation	$	556	$	390

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

	September 30, 2021		December 31, 2020
On-site remediation	$	296	$	140
Off-site groundwater remediation		55		54
Total Fayetteville environmental remediation	$	351	$	194

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

	September 30, 2021		December 31, 2020
Current environmental remediation	$	105	$	39
Long-term environmental remediation		246		155
Total Fayetteville environmental remediation	$	351	$	194

- Definition

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

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+ Details

Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Weighted Average Assumptions of Stock Options

	Nine Months Ended September 30, 2021
Risk-free interest rate		0.91	%
Expected term (years)		6.00
Volatility		63.85	%
Dividend yield		4.16	%
Fair value per stock option	$	9.78

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Schedule of Components of Accumulated Other Comprehensive Loss

The following table sets forth the changes and after-tax balances of the Company’s components comprising accumulated other comprehensive loss.

	Net Investment Hedge			Cash Flow Hedge			Cumulative Translation Adjustment			Defined Benefit Plans			Total
Balance at January 1, 2021	$	(76	)	$	(8	)	$	(120	)	$	(106	)	$	(310	)
Other comprehensive loss		34			8			(71	)		7			(22	)
Balance at September 30, 2021	$	(42	)	$	—		$	(191	)	$	(99	)	$	(332	)

Balance at January 1, 2020	$	(10	)	$	2		$	(231	)	$	(110	)	$	(349	)
Other comprehensive loss		(30	)		(7	)		(19	)		3			(53	)
Balance at September 30, 2020	$	(40	)	$	(5	)	$	(250	)	$	(107	)	$	(402	)

Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

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 September 30, 2021 and December 31, 2020.

		Fair Value Using Level 2 Inputs
	Balance Sheet Location	September 30, 2021		December 31, 2020
Asset derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Accounts and notes receivable, net (Note 8)	$	—	$	4
Foreign currency forward contracts designated as a cash flow hedge	Accounts and notes receivable, net (Note 8)		3		—
Total asset derivatives		$	3	$	4

Liability derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Other accrued liabilities (Note 13)	$	1	$	1
Foreign currency forward contracts designated as a cash flow hedge	Other accrued liabilities (Note 13)		—		4
Interest rate swaps designated as a cash flow hedge	Other accrued liabilities (Note 13)		2		3
Total liability derivatives		$	3	$	8

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 three and nine months ended September 30, 2021 and 2020.

	Gain (Loss) Recognized In
										Accumulated
										Other
	Cost of			Interest			Other Income			Comprehensive
Three Months Ended September 30,	Goods Sold			Expense, Net			(Expense), Net			Loss
2021
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—		$	(1	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		(1	)		—			—			2
Interest rate swaps designated as a cash flow hedge		—			—			—			—
Euro-denominated debt designated as a net investment hedge		—			—			—			21

2020
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—		$	10		$	—
Foreign currency forward contracts designated as a cash flow hedge		1			—			—			(2	)
Interest rate swaps designated as a cash flow hedge		—			—			—			—
Euro-denominated debt designated as a net investment hedge		—			—			—			(32	)

	Gain (Loss) Recognized In
										Accumulated
										Other
	Cost of			Interest			Other Income			Comprehensive
Nine Months Ended September 30,	Goods Sold			Expense, Net			(Expense), Net			Loss
2021
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—		$	(12	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		(4	)		—			—			5
Interest rate swaps designated as a cash flow hedge		—			(1	)		—			—
Euro-denominated debt designated as a net investment hedge		—			—			—			45

2020
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—		$	14		$	—
Foreign currency forward contracts designated as a cash flow hedge		5			—			—			(1	)
Interest rate swaps designated as a cash flow hedge		—			—			—			(3	)
Euro-denominated debt designated as a net investment hedge		—			—			—			(40	)

Long-term Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2021

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 for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Service cost	$	(4	)	$	(4	)	$	(12	)	$	(11	)
Interest cost		(1	)		(2	)		(4	)		(6	)
Expected return on plan assets		5			4			15			12
Amortization of actuarial loss		(2	)		(2	)		(6	)		(6	)
Amortization of prior service gain		—			1			2			2
Settlement loss		—			(1	)		—			(1	)
Curtailment gain		—			1			—			1
Total net periodic pension cost	$	(2	)	$	(3	)	$	(5	)	$	(9	)

Net gain	$	—		$	1		$	—		$	1
Prior service cost		—			(1	)		—			(1	)
Amortization of actuarial loss		2			2			6			6
Amortization of prior service gain		—			(1	)		(2	)		(2	)
Settlement loss		—			1			—			1
Curtailment gain		—			4			—			4
Effect of foreign exchange rates		2			(3	)		4			(4	)
Benefit recognized in other comprehensive income		4			3			8			5
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$	2		$	—		$	3		$	(4	)

Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2021

Supplemental Cash Flow Elements [Abstract]

Reconciliation of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents

	September 30, 2021		December 31, 2020
Cash and cash equivalents	$	1,031	$	1,105
Restricted cash and restricted cash equivalents (1)		100		—
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	1,131	$	1,105

(1)

Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Schedule of Segment Information

The following table sets forth certain summary financial information for the three and nine months ended September 30, 2021 and 2020.

	Titanium Technologies		Thermal & Specialized Solutions		Advanced Performance Materials		Chemical Solutions		Segment Total
Three Months Ended September 30, 2021
Net sales to external customers	$	908	$	318	$	356	$	98	$	1,680
Adjusted EBITDA		223		105		71		15		414
Depreciation and amortization		31		15		21		3		70

Three Months Ended September 30, 2020
Net sales to external customers	$	612	$	293	$	240	$	88	$	1,233
Adjusted EBITDA		129		105		7		12		253
Depreciation and amortization		32		13		22		6		73

	Titanium Technologies		Thermal & Specialized Solutions		Advanced Performance Materials		Chemical Solutions		Segment Total
Nine Months Ended September 30, 2021
Net sales to external customers	$	2,490	$	962	$	1,051	$	267	$	4,770
Adjusted EBITDA		611		315		196		43		1,165
Depreciation and amortization		95		45		65		14		219

Nine Months Ended September 30, 2020
Net sales to external customers	$	1,711	$	832	$	825	$	263	$	3,631
Adjusted EBITDA		361		249		101		45		756
Depreciation and amortization		95		40		66		16		217

Total Assets (1)
September 30, 2021	$	2,349	$	1,100	$	1,605	$	547	$	5,601
December 31, 2020		2,130		1,041		1,520		531		5,222

(1)

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Segment Adjusted EBITDA	$	414		$	253		$	1,165		$	756
Corporate and Other expenses (excluding items below)		(42	)		(43	)		(159	)		(123	)
Interest expense, net		(45	)		(53	)		(142	)		(160	)
Depreciation and amortization		(78	)		(79	)		(242	)		(240	)
Non-operating pension and other post-retirement employee benefit income		2			1			7			2
Exchange gains (losses), net		3			(9	)		(2	)		(28	)
Restructuring, asset-related, and other charges (1)		(3	)		(9	)		(2	)		(37	)
Loss on extinguishment of debt		(20	)		—			(20	)		—
Gain on sales of assets and businesses		1			—			2			—
Natural disasters and catastrophic events (2)		—			—			(19	)		—
Transaction costs (3)		(2	)		—			(7	)		(2	)
Qualified spend recovery (4)		12			—			12			—
Legal and environmental charges (5,6)		(11	)		(1	)		(219	)		(12	)
Income before income taxes	$	231		$	60		$	374		$	156

(1)

Includes restructuring, asset-related, and other charges, which are discussed in further detail in “Note 5 – Restructuring, Asset-related, and Other Charges”.

(2)

Natural disasters and catastrophic events pertains to the total cost of plant repairs and utility charges in excess of historical averages caused by Winter Storm Uri.

(3)

In 2021, includes costs associated with the Company’s accounting, legal, and bankers’ transaction costs incurred in connection with the sale of its Mining Solutions business.

(4)

(5)

(6)

Background, Description of the Business, and Basis of Presentation - Narrative (Details)	9 Months Ended
	Sep. 30, 2021 segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of reportable segments	4

Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021 USD ($)
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, 2021
Change In Accounting Principle Accounting Standards Update Immaterial Effect	true
Accounting Standards Update Description	ASU No. 2019-12
Restricted Cash and Restricted Cash Equivalents [Member] \| Memorandum of Understanding [Member]
Summary Of Significant Accounting Policies [Line Items]
Escrow deposit	$ 100

- Definition

Indicates (true false) whether accounting standards update was adopted.

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+ Details

- Definition

Date accounting standards update was adopted, in YYYY-MM-DD format.

+ References

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+ Details

Acquisitions and Divestitures - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jul. 26, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Assets held for sale		$ 412,000,000		$ 412,000,000
Liabilities held for sale		8,000,000		8,000,000
Provision for (benefit from) income taxes		17,000,000	$ (16,000,000)	(1,000,000)	$ (44,000,000)
Mining Solutions [Member]
Business Acquisition [Line Items]
Legal, audit and consulting fees				12,000,000
Mining Solutions [Member] \| Selling, General and Administrative Expenses [Member]
Business Acquisition [Line Items]
Business exit costs		2,000,000		11,000,000
Mining Solutions [Member] \| Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Business Acquisition [Line Items]
Assets held for sale		412,000,000		412,000,000			$ 0
Liabilities held for sale		8,000,000		8,000,000			$ 0
Goodwill		51,000,000		51,000,000
Provision for (benefit from) income taxes		(10,000,000)		(10,000,000)
Chemical Solutions [Member] \| Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Business Acquisition [Line Items]
Goodwill		$ 51,000,000		$ 51,000,000
Chemical Solutions [Member] \| Mining Solutions [Member]
Business Acquisition [Line Items]
Sale of business, purchase price consideration in cash						$ 520,000,000
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

Acquisitions and Divestitures - Schedule of Carrying Amounts of Major Classes of Assets and Liabilities Classified as Held for Sale (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Assets held for sale	$ 412,000,000
Liabilities held for sale	8,000,000
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] \| Mining Solutions [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Accounts and notes receivable, net	26,000,000
Inventories	24,000,000
Property, plant, and equipment	481,000,000
Less: Accumulated depreciation	(185,000,000)
Property, plant, and equipment, net	296,000,000
Operating lease right-of-use assets	7,000,000
Goodwill	51,000,000
Other assets	8,000,000
Assets held for sale	412,000,000	$ 0
Other accrued liabilities	3,000,000
Operating lease liabilities	5,000,000
Liabilities held for sale	$ 8,000,000	$ 0

Net Sales - Summary of Disaggregation of Net Sales by Geographical Region and Segment and Product Group (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	$ 1,680	$ 1,233	$ 4,770	$ 3,631
Topic 606 [Member] \| Transferred at a Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	1,680	1,233	4,770	3,631
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| North America [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	624	488	1,717	1,456
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	275	203	730	571
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	171	151	486	415
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	123	82	363	312
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	55	52	138	158
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	362	258	1,079	786
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	229	135	626	382
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	67	75	243	235
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	62	42	197	152
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	4	6	13	17
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Latin America [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	200	156	575	405
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	116	89	330	219
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	38	29	104	84
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	13	12	43	31
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	33	26	98	71
Topic 606 [Member] \| Transferred at a Point in Time [Member] \| Asia Pacific [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	494	331	1,399	984
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	288	185	804	539
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	42	38	129	98
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	158	104	448	330
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	6	4	18	17
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	908	612	2,490	1,711
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	244	229	756	667
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	74	64	206	165
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	356	240	1,051	825
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	72	53	193	150
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	$ 26	$ 35	$ 74	$ 113

Net Sales - Summary of Contract Balances from Contracts with Customers (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Accounts receivable - trade, net	$ 752	$ 449
Deferred revenue	7	12
Customer rebates	$ 69	$ 69

Net Sales - Summary of Contract Balances from Contracts with Customers (Parenthetical) (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Disaggregation Of Revenue [Line Items]
Accounts receivable - trade, net	$ 752,000,000	$ 449,000,000
Allowance for doubtful accounts	5,000,000	7,000,000
Trade Notes Receivable [Member]
Disaggregation Of Revenue [Line Items]
Accounts receivable - trade, net	$ 2,000,000
Maximum [Member] \| Trade Notes Receivable [Member]
Disaggregation Of Revenue [Line Items]
Accounts receivable - trade, net		$ 1,000,000

Net Sales - Narrative (Details) - Topic 606 [Member] $ in Millions	9 Months Ended
	Sep. 30, 2021 USD ($)
Disaggregation Of Revenue [Line Items]
Remaining performance obligations	$ 76
Revenue, practical expedient, financing component	true

Net Sales - Narrative (Details1) - Topic 606 [Member]	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	19.00%
Remaining performance obligations original expected period	3 months
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	21.00%
Remaining performance obligations original expected period	1 year

Restructuring, Asset-Related, and Other Charges - Schedule of Restructuring Program (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring And Related Activities [Abstract]
Employee separation charges	$ 0	$ 3	$ (2)	$ 18
Decommissioning and other charges	3	1	6	3
Total restructuring and other charges	3	4	4	21
Asset-related charges	0	5	0	16
Total restructuring, asset-related, and other charges	$ 3	$ 9	$ 4	$ 37

Restructuring, Asset-Related, and Other Charges - Schedule of Restructuring Programs to Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		21 Months Ended	27 Months Ended	57 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2	$ 4	$ 10	$ 21
Asset-related charges	0	5	0	16
Total restructuring, asset-related, and other charges	3	9	4	37
Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	1	11	5
2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	(1)			$ 61
2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	3		$ 25
2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	3	(1)	14	$ 12
Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Other charges	1	0	(6)	0
Operating Segments [Member] \| Chemical Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	0	0	0	7
Other charges	1	0	(7)	0
Operating Segments [Member] \| Chemical Solutions [Member] \| Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	1	11	4
Operating Segments [Member] \| Chemical Solutions [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	1
Operating Segments [Member] \| Thermal & Specialized Solutions [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	1
Operating Segments [Member] \| Thermal & Specialized Solutions [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	1
Operating Segments [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	0	5	0	5
Other charges	0	0	1	0
Operating Segments [Member] \| Advanced Performance Materials [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	2
Operating Segments [Member] \| Advanced Performance Materials [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	1	(1)	3
Operating Segments [Member] \| Titanium Technologies [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	3
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	0	0	0	4
Corporate and Other [Member] \| Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	1
Corporate and Other [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	(1)
Corporate and Other [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 2	$ 0	$ 6

Restructuring, Asset-Related, and Other Charges - Narrative (Details) $ in Millions	3 Months Ended						9 Months Ended			12 Months Ended	21 Months Ended	27 Months Ended	45 Months Ended	57 Months Ended	72 Months Ended
	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2018 USD ($)	Dec. 31, 2017 Employee	Sep. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Restructuring Cost and Reserve [Line Items]
Asset-related charges	$ 0				$ 5		$ 0	$ 16
Restructuring charges	2				4		10	21
Employee separation related liabilities	2			$ 7			2				$ 2	$ 2	$ 2	$ 2	$ 2
2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0				0		0	(1)						61
2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0				0		0	3				25
Employee separation related liabilities	1			2			1				1	1	1	1	1
2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0				3		(1)	14			12
Employee separation related liabilities	0			3			0				0	0	0	0	0
Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2				1		11	5
Voluntary Separation Program [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Payment of contract termination fees						$ 18
Number of employees eliminated as a result of restructuring activities \| Employee										300
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
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	0				0		0	4
Corporate and Other [Member] \| 2017 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0				0		0	(1)
Corporate and Other [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0				2		0	6
Corporate and Other [Member] \| Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0				0		0	1
Corporate and Other [Member] \| Deepwater, New Jersey [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges													28
Corporate and Other [Member] \| Deepwater, New Jersey [Member] \| Decommissioning, Dismantling, and Other Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges								1
Chemical Solutions [Member] \| Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	0				0		0	7
Chemical Solutions [Member] \| Operating Segments [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0				0		0	1
Chemical Solutions [Member] \| Operating Segments [Member] \| Plant and Product Line Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2				1		11	4
Chemical Solutions [Member] \| Operating Segments [Member] \| Niagara Falls, NY [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges															42
Chemical Solutions [Member] \| Operating Segments [Member] \| Niagara Falls, NY [Member] \| Decommissioning Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges					1		2	2
Chemical Solutions [Member] \| Operating Segments [Member] \| Niagara Falls, NY [Member] \| Decommissioning Costs [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1
Chemical Solutions [Member] \| Operating Segments [Member] \| Niagara Falls, NY [Member] \| Additional Restructuring Charges [Member] \| Scenario Forecast [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges expected to be incurred																$ 2
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
Employee separation related liabilities	1			2	2		1	2			$ 1	$ 1	$ 1	$ 1	$ 1
Chemical Solutions [Member] \| Operating Segments [Member] \| Pascagoula, Mississippi [Member] \| Decommissioning, Dismantling, and Other Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2						10
Chemical Solutions [Member] \| Operating Segments [Member] \| Pascagoula, Mississippi [Member] \| Decommissioning, Dismantling, and Other Costs [Member] \| Scenario Forecast [Member]
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges expected to be incurred																	$ 3
Chemical Solutions [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Other charges				37
Gain loss on other charges			$ 9
Chemical Solutions [Member] \| Contract Termination Fees [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Other charges				26
Payment of contract termination fees			26
Chemical Solutions [Member] \| Other Related Prepaid Costs [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Other charges				11
Chemical Solutions [Member] \| Construction-in-Process [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Reversal of liability recorded			22	$ 22
Chemical Solutions [Member] \| Construction Resumes [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Other charges			9
Chemical Solutions [Member] \| Impairment Charges [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges			$ 13
Chemical Solutions [Member] \| Freight Charges associated with Transportation of Impaired Assets [Member] \| Mining Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Other charges	1	$ 2
Advanced Performance Materials [Member] \| Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges	0				5		0	5
Advanced Performance Materials [Member] \| Operating Segments [Member] \| 2019 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0				0		0	2
Advanced Performance Materials [Member] \| Operating Segments [Member] \| 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0				$ 1		$ (1)	$ 3

Restructuring, Asset-Related, and Other Charges - Restructuring Program Schedule (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	$ 7
Charges (credits) to income	(2)
Payments	(3)
Restructuring reserve, ending	2
Chemical Solutions Site Closures [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	2
Charges (credits) to income	(1)
Payments	0
Restructuring reserve, ending	1
2019 Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	2
Charges (credits) to income	0
Payments	(1)
Restructuring reserve, ending	1
2020 Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	3
Charges (credits) to income	(1)
Payments	(2)
Restructuring reserve, ending	$ 0

Other Income (Expense), Net - Components of Other Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Income And Expenses [Abstract]
Leasing, contract services and miscellaneous income	$ 4	$ 2	$ 16	$ 11
Royalty income	1	1	8	9
Gain on sales of assets and businesses	1	0	2	0
Exchange gains (losses), net	3	(9)	(2)	(28)
Non-operating pension and other post-retirement employee benefit income	2	1	7	2
Total other income (expense), net	$ 11	$ (5)	$ 31	$ (6)

Earnings Per Share of Common Stock - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income attributable to Chemours	$ 214	$ 76	$ 375	$ 200
Denominator:
Weighted-average number of common shares outstanding - basic	165,113,024	164,762,621	165,627,861	164,556,139
Dilutive effect of the Company’s employee compensation plans	3,841,670	1,851,050	3,742,889	1,209,143
Weighted-average number of common shares outstanding - diluted	168,954,694	166,613,671	169,370,750	165,765,282
Basic earnings per share of common stock	$ 1.30	$ 0.46	$ 2.26	$ 1.22
Diluted earnings per share of common stock	$ 1.27	$ 0.46	$ 2.21	$ 1.21

- 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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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

Earnings Per Share of Common Stock - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Average number of stock options	1,499,648	1,676,765	1,501,344	4,607,057

Accounts and Notes Receivable, Net - Schedule of Accounts and Notes Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Accounts receivable - trade, net	$ 752	$ 449
VAT, GST and other taxes	53	49
Other receivables	26	13
Total accounts and notes receivable, net	$ 831	$ 511

Accounts and Notes Receivable, Net - Schedule of Accounts and Notes Receivable (Parenthetical) (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable - trade, net	$ 752,000,000	$ 449,000,000
Allowance for doubtful accounts receivable	5,000,000	7,000,000
Other receivables	26,000,000	13,000,000
Memorandum of Understanding [Member]
Accounts Notes And Loans Receivable [Line Items]
Other receivables	15,000,000
Trade Notes Receivable [Member]
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable - trade, net	$ 2,000,000
Trade Notes Receivable [Member] \| Maximum [Member]
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable - trade, net		$ 1,000,000

Accounts and Notes Receivable, Net - (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accounts Notes And Loans Receivable [Line Items]
Bad debt expense		$ 2,000,000		$ 2,000,000
Maximum [Member]
Accounts Notes And Loans Receivable [Line Items]
Bad debt expense	$ 1,000,000		$ 1,000,000

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Inventory Net [Abstract]
Finished products	$ 625	$ 579
Semi-finished products	166	180
Raw materials, stores, and supplies	472	433
Inventories before LIFO adjustment	1,263	1,192
Less: Adjustment of inventories to LIFO basis	(247)	(253)
Total inventories	$ 1,016	$ 939

Inventories - Narrative (Details) - US [Member] - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Inventory [Line Items]
LIFO inventory amount	$ 570	$ 585
Percentage of LIFO inventory	45.00%	49.00%

Property, Plant, and Equipment, Net - Summary of Property, Plant, and Equipment, Net (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property, plant, and equipment	$ 9,207	$ 9,582
Less: Accumulated depreciation	(6,080)	(6,108)
Property, plant, and equipment, net	3,127	3,474
Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	7,614	7,816
Building [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	1,171	1,198
Construction-in-progress [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	278	421
Land [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	108	111
Mineral rights [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	$ 36	$ 36

Property, Plant, and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Finance leased assets, gross	$ 102		$ 102		$ 86
Depreciation expense	$ 76	$ 77	$ 234	$ 234

Investments in Affiliates - Narrative (Details) - Equity Method Investees [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investments in Affiliates
Net sales	$ 41	$ 21	$ 114	$ 68
Purchases	46	38	133	107
Dividends			$ 1	$ 4
Maximum [Member]
Investments in Affiliates
Dividends	$ 1	$ 1

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Capitalized repair and maintenance costs	$ 153	$ 198
Pension assets	84	79
Deferred income taxes	158	95
Miscellaneous	24	33
Total other assets	$ 419	$ 405

- Definition

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

+ References + Details

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Accrued Liabilities, Current [Abstract]
Employee separation costs	$ 3	$ 7
Accrued litigation	36	37
Asset retirement obligations	14	13
Income taxes	75	64
Customer rebates	69	69
Deferred revenue	2	7
Accrued interest	40	18
Operating lease liabilities	49	57
Miscellaneous	73	103
Total other accrued liabilities	$ 361	$ 375

Debt - Components of Debt (Details) € in Millions, $ in Millions	Sep. 30, 2021 USD ($)	Sep. 30, 2021 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)
Debt Instrument [Line Items]
Finance lease liabilities	$ 82		$ 74
Financing obligation	93		94
Total debt principal	3,890		4,061
Less: Unamortized issue discounts	(6)		(7)
Less: Unamortized debt issuance costs	(30)		(28)
Less: Short-term and current maturities of long-term debt	(25)		(21)
Total long-term debt, net	3,829		4,005
Total debt	3,890		4,061
Senior Secured Tranche B-2 U.S Dollar Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	845		875
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	394	€ 338	417	€ 340
7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt			750
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	526	€ 450	551	€ 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		$ 800
4.625% Senior Unsecured Notes Due November 2029 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 650

Debt - Components of Debt (Parenthetical) (Details) € in Millions, $ in Millions	Sep. 30, 2021 USD ($)	Sep. 30, 2021 EUR (€)	Aug. 18, 2021	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)
Debt Instrument [Line Items]
Financing obligation	$ 93			$ 94
Discovery Hub [Member]
Debt Instrument [Line Items]
Financing obligation	93			94
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 394	€ 338		417	€ 340
7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt				$ 750
Debt instrument interest rate	7.00%	7.00%	7.00%	7.00%	7.00%
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 526	€ 450		$ 551	€ 450
Debt instrument interest rate	4.00%	4.00%		4.00%	4.00%
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%
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 800			$ 800
Debt instrument interest rate	5.75%	5.75%		5.75%	5.75%
4.625% Senior Unsecured Notes Due November 2029 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 650
Debt instrument interest rate	4.625%	4.625%	4.625%

Debt - Senior Secured Credit Facilities - Narrative (Details) - USD ($)			3 Months Ended			9 Months Ended
	Oct. 07, 2021	Apr. 03, 2018	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Senior Secured Tranche B-2 U.S Dollar Term Loan Due April 2025 [Member]
Line of Credit Facility [Line Items]
Debt instrument maturity date						Apr. 30, 2025
4.000% Senior Unsecured Notes Due May 2026 [Member]
Line of Credit Facility [Line Items]
Debt instrument maturity date						May 31, 2026
Senior Secured Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Debt instrument term		7 years
Term loan repayments			$ 3,000,000		$ 3,000,000	$ 10,000,000	$ 10,000,000
Debt instrument, repurchase aggregate principal amount			4,000,000	$ 20,000,000		4,000,000
Payments for repurchase of loans				$ 20,000,000		$ 20,000,000
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
Debt instrument, springing maturity, description						The Credit Agreement is subject to a springing maturity in the event that the senior secured term loans due April 2025 and the senior unsecured notes due in May 2026 are not redeemed, repaid, modified, and/or refinanced within the 91-day period prior to their maturity date.
Long-term debt			0			$ 0		$ 0
Letters of credit outstanding			$ 108,000,000			$ 108,000,000		$ 102,000,000
Commitment fee percentage						0.15%
Senior Secured Revolving Credit Facility [Member] \| Subsequent Event [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 900,000,000
Debt instrument maturity date	Oct. 07, 2026
Euro Term Loan [Member]
Line of Credit Facility [Line Items]
Effective interest rates on senior secured term loan			2.50%			2.50%
Dollar Term Loan [Member]
Line of Credit Facility [Line Items]
Effective interest rates on senior secured term loan			1.80%			1.80%

Debt - Senior Unsecured Notes - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended		9 Months Ended
	Aug. 18, 2021	Aug. 04, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Aug. 20, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 20	$ 0	$ 20	$ 0
4.625% Senior Unsecured Notes Due November 2029 [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	$ 650
Debt instrument interest rate	4.625%		4.625%		4.625%
Debt instrument maturity date	Nov. 30, 2029
Senior unsecured notes, payment terms					The 2029 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.
Net proceeds from issuance of long term debt	$ 642
Underwriting fees and other related expenses	8
Obligation threshold for debt to become guaranteed	$ 100
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	104.625%
7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	$ 750
Debt instrument interest rate	7.00%		7.00%		7.00%			7.00%
Debt instrument maturity date	May 31, 2025
Loss on extinguishment of debt			$ 20		$ 20
Tender offer aggregate purchase price							$ 782
Tender offer early participation premium							18
Tender offer accrued interest							$ 14
7.000% Senior Unsecured Notes Due May 2025 [Member] \| Tender Offer Purchase Price One [Member]
Debt Instrument [Line Items]
Tender offer purchase price per share		$ 1,025.00
Tender offer principal amount price per share		1,000.00
Tender offer expiration date		Aug. 17, 2021
7.000% Senior Unsecured Notes Due May 2025 [Member] \| Tender Offer Purchase Price Two [Member]
Debt Instrument [Line Items]
Tender offer purchase price per share		$ 995.00
Tender offer principal amount price per share		1,000.00
Tender offer expiration date		Aug. 31, 2021

Debt - Accounts Receivable Securitization Facility - Narrative (Details) - USD ($) $ in Millions			3 Months Ended			9 Months Ended
	Mar. 05, 2021	Mar. 09, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Line of Credit Facility [Line Items]
Proceeds from accounts receivable securitization facility						$ 0	$ 12
Securitization Facility [Member] \| Special Purpose Entity [Member]
Line of Credit Facility [Line Items]
Net repayments of securitization					$ 110
Sale of receivables to bank					$ 125
Percentage of fair value of sales receivables		100.00%
Percentage of fair value on additional purchases of receivables		100.00%
Proceeds from accounts receivable securitization facility			$ 331	$ 289		947	646
Accounts receivable from securitization, amount derecognized			331	292		972	646
Receivable from securitization facility			142			142		$ 33
Servicing and other fees on securitization			$ 1			$ 2	$ 1
Securitization Facility [Member] \| Special Purpose Entity [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Increase in borrowing capacity	$ 125
Securitization Facility [Member] \| Special Purpose Entity [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Increase in borrowing capacity	$ 150
Servicing and other fees on securitization				$ 1

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 one	3.50
Target leverage ratio two	1.00
Maximum [Member]
Debt Instrument [Line Items]
Additional principal repayment, percentage of excess cash flows	50.00%

Debt - Schedule of Debt Principal Maturities (Details) - Senior Debt [Member] $ in Millions	Sep. 30, 2021 USD ($)
Debt Instrument [Line Items]
Remainder of 2021	$ 3
2022	13
2023	13
2024	13
2025	1,197
Thereafter	2,476
Total principal maturities on debt	$ 3,715

Debt - Estimated Fair Values of Senior Debt Issues (Details) € in Millions, $ in Millions	Sep. 30, 2021 USD ($)	Sep. 30, 2021 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)
Debt Instrument [Line Items]
Less: Unamortized issue discounts	$ (6)		$ (7)
Less: Unamortized debt issuance costs	(30)		(28)
7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value			750
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	526	€ 450	551	€ 450
5.375% Senior Unsecured Notes Due May 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	500		500
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	800		800
4.625% Senior Unsecured Notes Due November 2029 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	650
Senior Secured Tranche B-2 U.S Dollar Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	845		875
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	394	€ 338	417	€ 340
Level 2 [Member]
Debt Instrument [Line Items]
Total senior debt, Carrying Value	3,715		3,893
Total senior debt, Fair Value	3,776		3,957
Less: Unamortized issue discounts	(6)		(7)
Less: Unamortized debt issuance costs	(30)		(28)
Total senior debt, net	3,679		3,858
Level 2 [Member] \| 7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value			750
Long-term debt, Fair Value			774
Level 2 [Member] \| 4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	526		551
Long-term debt, Fair Value	538		551
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	540		536
Level 2 [Member] \| 5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	800		800
Long-term debt, Fair Value	840		821
Level 2 [Member] \| 4.625% Senior Unsecured Notes Due November 2029 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	650
Long-term debt, Fair Value	638
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	845		875
Long-term debt, Fair Value	828		862
Level 2 [Member] \| Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	394		417
Long-term debt, Fair Value	$ 392		$ 413

Debt - Estimated Fair Values of Senior Debt Issues (Parenthetical) (Details) € in Millions, $ in Millions	Sep. 30, 2021 USD ($)	Sep. 30, 2021 EUR (€)	Aug. 18, 2021	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)
7.000% Senior Unsecured Notes Due May 2025 [Member]
Debt Instrument [Line Items]
Long-term debt				$ 750
Debt instrument interest rate	7.00%	7.00%	7.00%	7.00%	7.00%
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 526	€ 450		$ 551	€ 450
Debt instrument interest rate	4.00%	4.00%		4.00%	4.00%
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%
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 800			$ 800
Debt instrument interest rate	5.75%	5.75%		5.75%	5.75%
4.625% Senior Unsecured Notes Due November 2029 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 650
Debt instrument interest rate	4.625%	4.625%	4.625%
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 394	€ 338		$ 417	€ 340

Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Other Liabilities Noncurrent [Abstract]
Employee-related costs	$ 104	$ 108
Accrued litigation	52	51
Asset retirement obligations	63	63
Deferred revenue	5	5
Miscellaneous	71	68
Total other liabilities	$ 295	$ 295

Other Liabilities - Schedule of Other Liabilities (Parenthetical) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Other Liabilities Noncurrent [Abstract]
Asset retirement obligations	$ 77	$ 76
Accrued indemnification liability	$ 34	$ 37

Commitments and Contingent Liabilities - Litigation - Narrative (Details)		1 Months Ended					3 Months Ended	9 Months Ended	12 Months Ended	26 Months Ended
	Jul. 13, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jan. 31, 2021 USD ($) plaintiff	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($) lawsuit	Mar. 31, 2017 USD ($) lawsuit	Sep. 30, 2021 USD ($) lawsuit	Sep. 30, 2021 USD ($) lawsuit water_district	Dec. 31, 2004 resident	Sep. 30, 2021 USD ($) lawsuit Supplier	Dec. 31, 2020 USD ($) lawsuit	Oct. 31, 2020 lawsuit	Sep. 30, 2020 lawsuit	Sep. 30, 2019 lawsuit
Loss Contingencies [Line Items]
Aggregate amount of qualified spend							$ 4,000,000,000	$ 4,000,000,000		$ 4,000,000,000
Qualified spend recovery amount recognized							12,000,000	12,000,000
Accrual balance							88,000,000	88,000,000		$ 88,000,000	$ 88,000,000
Number of long island water suppliers filed lawsuits \| Supplier										13
Chemical Solutions [Member] \| Mining Solutions [Member]
Loss Contingencies [Line Items]
Long-lived assets							157,000,000	157,000,000		$ 157,000,000	$ 146,000,000
Maximum [Member]
Loss Contingencies [Line Items]
Loss contingency, potential additional loss							$ 670,000,000	670,000,000		$ 670,000,000
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
PFOA MDL After First Settlement [Member]
Loss Contingencies [Line Items]
Number of individual plaintiffs \| plaintiff			96
P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Loss contingency expected settlement amount			$ 83,000,000
Loss contingency damages paid value								$ 29,000,000
Loss contingency accrual period decrease		$ 250,000
Asbestos Issue [Member]
Loss Contingencies [Line Items]
Lawsuits alleging personal injury - Filed \| lawsuit							1,000	1,000		1,000	1,100
Accrual balance							$ 34,000,000	$ 34,000,000		$ 34,000,000	$ 34,000,000
Benzene Related Illness [Member]
Loss Contingencies [Line Items]
Lawsuits alleging illness \| lawsuit							20	20		20	17
PFOA Matters [Member]
Loss Contingencies [Line Items]
Accrual balance							$ 22,000,000	$ 22,000,000		$ 22,000,000	$ 21,000,000
Number of lawsuits filed \| lawsuit												2	3
PFOA Matters [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Period of payments								5 years
PFOA Matters: Drinking Water Actions [Member]
Loss Contingencies [Line Items]
Accrual balance							22,000,000	$ 22,000,000		22,000,000	$ 21,000,000
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
PFOA Matters: Additional Actions [Member]
Loss Contingencies [Line Items]
Lawsuits alleging personal injury - Filed \| lawsuit						3,500
Compensatory and Emotional Distress Damages [Member] \| P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Loss contingency damages awarded value				$ 40,000,000
Consortium Damages [Member] \| P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Loss contingency damages awarded value				$ 10,000,000
AFFF [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed \| lawsuit														4
EID [Member]
Loss Contingencies [Line Items]
Lawsuits alleging illness \| lawsuit							40	40		40
EID [Member] \| Business Seeking to Recover Losses [Member]
Loss Contingencies [Line Items]
Lawsuits alleging illness \| lawsuit							2	2		2
PFAS Matters [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed \| lawsuit					4
Demanding amount to cover the cost of preparation of natural resource damage assessment plan and access to related documents					$ 100,000
Chemours [Member]
Loss Contingencies [Line Items]
Expenditures subject to cost-sharing as qualified spend							$ 30,000,000	$ 72,000,000
Qualified spend recovery amount recognized							21,000,000	21,000,000
Qualified spend expenditure subject to review							30,000,000
Chemours [Member] \| P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Accrual balance			29,000,000
DuPont and Corteva \| P F O A Second M D L Settlement
Loss Contingencies [Line Items]
Accrual balance			27,000,000
Chemours, DuPont, Corteva, EID [Member] \| PFAS Natural Resource Damages Matters [Member] \| State of Delaware [Member]
Loss Contingencies [Line Items]
Accrual balance							25,000,000	25,000,000		$ 25,000,000
Settlement payments	$ 50,000,000
Chemours, DuPont, Corteva, EID [Member] \| PFAS Natural Resource Damages Matters [Member] \| Minimum [Member] \| Another State [Member]
Loss Contingencies [Line Items]
Settlement payments	50,000,000
Chemours, DuPont, Corteva, EID [Member] \| PFAS Natural Resource Damages Matters [Member] \| One or More Supplemental Payment Directly to Trust [Member] \| Maximum [Member] \| Another State [Member]
Loss Contingencies [Line Items]
Settlement payments	25,000,000
Memorandum of Understanding [Member]
Loss Contingencies [Line Items]
Aggregate amount of qualified spend			4,000,000,000
Memorandum of Understanding [Member] \| Restricted Cash and Restricted Cash Equivalents [Member]
Loss Contingencies [Line Items]
Escrow deposit							100,000,000	100,000,000		100,000,000
Memorandum of Understanding [Member] \| PFAS Liabilities [Member] \| Restricted Cash and Restricted Cash Equivalents [Member]
Loss Contingencies [Line Items]
Escrow deposit							$ 100,000,000	$ 100,000,000		$ 100,000,000
Memorandum of Understanding [Member] \| Minimum Balance on December 31, 2028 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit			700,000,000
Memorandum of Understanding [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] \| 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
Memorandum of Understanding [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] \| Chemours [Member] \| PFAS Natural Resource Damages Matters [Member] \| State of Delaware [Member]
Loss Contingencies [Line Items]
Settlement payments	$ 25,000,000
Memorandum of Understanding [Member] \| Chemours [Member] \| No Later Than Each of September 30, 2021 and September 30, 2022 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit			$ 100,000,000
Memorandum of Understanding [Member] \| Chemours [Member] \| No Later Than September 30 of Each Subsequent Year Through and Including 2028 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit			$ 50,000,000
Memorandum of Understanding [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] \| DuPont and Corteva [Member] \| No Later Than Each of September 30, 2021 and September 30, 2022 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit			$ 100,000,000
Memorandum of Understanding [Member] \| DuPont and Corteva [Member] \| No Later Than September 30 of Each Subsequent Year Through and Including 2028 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit			$ 50,000,000

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

Sep. 30, 2021

Dec. 31, 2020

Loss Contingencies [Line Items]

Accrued litigation

$ 88

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

^[2]

$ 32

$ 4

[1]

[2]

Commitments and Contingent Liabilities - Schedule of Components of Accrued Litigation (Parenthetical) (Details) - USD ($) $ in Millions		6 Months Ended
	Jul. 13, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Accrued litigation			$ 88	$ 88
PFOA Multi District Litigation in Ohio [Member]
Loss Contingencies [Line Items]
Settlement payments		$ 29
PFAS Natural Resource Damages Matters [Member] \| Chemours, DuPont, Corteva, EID [Member] \| State of Delaware [Member]
Loss Contingencies [Line Items]
Settlement payments	$ 50
Accrued litigation			$ 25

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

Sep. 30, 2021

Dec. 31, 2020

Accrued Litigation:

Current accrued litigation

$ 36

$ 37

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

$ 52

$ 51

[1]

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Accrued Litigation and Balance Sheet Locations (Parenthetical) (Details) - USD ($) $ in Millions		6 Months Ended
	Jul. 13, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Accrued litigation			$ 36	$ 37
PFAS Natural Resource Damages Matters [Member] \| Chemours, DuPont, Corteva, EID [Member] \| State of Delaware [Member]
Loss Contingencies [Line Items]
Accrued litigation			$ 25
Settlement payments	$ 50
PFOA Multi District Litigation in Ohio [Member]
Loss Contingencies [Line Items]
Settlement payments		$ 29

Commitments and Contingent Liabilities - Schedule of Components of Environmental Remediation Liabilities (Details) - USD ($)
$ in Millions

Sep. 30, 2021

Dec. 31, 2020

Environmental Remediation [Line Items]

Accrued environmental remediation

$ 556

$ 390

Chambers Works, Deepwater, New Jersey [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

^[1]

East Chicago, Indiana [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

Fayetteville Works, Fayetteville, North Carolina [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

^[2]

351

194

Pompton Lakes, New Jersey [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

USS Lead, East Chicago, Indiana [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

^[3]

All other sites [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

$ 102

$ 111

[1]

[2]

(2)

[3]

Commitments and Contingent Liabilities - Schedule of Components of Environmental Remediation Liabilities (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
On-site Surface Water and Groundwater Remediation [Member]
Environmental Remediation [Line Items]
Additional accrued environmental remediation		$ 60
Chambers Works, Deepwater, New Jersey [Member]
Environmental Remediation [Line Items]
Adjustments related to remediation estimate			$ 7
Fayetteville Works, Fayetteville, North Carolina [Member] \| On-site Surface Water and Groundwater Remediation [Member]
Environmental Remediation [Line Items]
Additional accrued environmental remediation		$ 175
USS Lead, East Chicago, Indiana [Member]
Environmental Remediation [Line Items]
Additional accrued environmental to resolve claim asserted	$ 9

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Environmental Remediation Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Current environmental remediation	$ 161	$ 95
Long-term environmental remediation	395	295
Total environmental remediation	$ 556	$ 390

Commitments and Contingent Liabilities - Environmental - Narrative (Details) $ in Thousands		1 Months Ended		3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 15, 2021	Oct. 31, 2021 USD ($) CivilPenalty	Mar. 31, 2019 USD ($) lawsuit	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2020 USD ($) lawsuit	Sep. 30, 2021 USD ($) Owner	Sep. 30, 2020 USD ($) lawsuit	Dec. 31, 2020 USD ($)	Oct. 31, 2020 lawsuit
Environmental Remediation [Line Items]
Environmental remediation expense				$ 28,000		$ 14,000	$ 241,000	$ 53,000
Number of days to address conditional approval of design of barrier wall and groundwater extraction and treatment system	45 days
Subsequent Event [Member]
Environmental Remediation [Line Items]
Number of civil penalty assessments for violation to reduce facility-wide annual emissions of GenX compounds \| CivilPenalty		2
Amount of civil penalty assessed for violation to reduce facility-wide annual emissions of GenX compounds		$ 300
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				6,000		$ 9,000	$ 15,000	$ 27,000
Off-site Groundwater Remediation and Toxicity Studies [Member]
Environmental Remediation [Line Items]
Disbursements period							20 years
Toxicity Studies [Member]
Environmental Remediation [Line Items]
Disbursements period							3 years
Off-site Groundwater Remediation [Member]
Environmental Remediation [Line Items]
Estimated disbursements amount							$ 55,000
On-site Surface Water and Groundwater Remediation [Member]
Environmental Remediation [Line Items]
Accrual for environmental remediation activities					$ 60,000
Accrual for environmental remediation activities per year					$ 3,000
Estimated operation period					20 years
Estimated cost of remediation				296,000			$ 296,000		$ 140,000
Expected percentage of completion engineering design							90.00%
Addendum specified penalties							$ 150
Addendum specified additional penalties per week							$ 20
OM&M projected paid period							20 years
On-site Surface Water and Groundwater Remediation [Member] \| Construction of Barrier Wall and Groundwater Treatment Facility [Member]
Environmental Remediation [Line Items]
Accrual for environmental remediation activities					$ 49,000
Upper range of cost estimates							$ 316,000		$ 111,000
Cost estimates already accrued							172,000
Estimated cost of remediation				30,000			$ 30,000
On-site Surface Water and Groundwater Remediation [Member] \| Groundwater Extraction and Treatment System [Member]
Environmental Remediation [Line Items]
Accrued for operation, maintenance, and monitoring period					20 years
Accrual for environmental remediation activities					$ 60,000
Adjustments related to remediation estimate					$ 60,000
Estimated operation starting year					2023
Fayetteville Works, Fayetteville, North Carolina [Member] \| On-site Surface Water and Groundwater Remediation [Member]
Environmental Remediation [Line Items]
Accrual for environmental remediation activities					$ 175,000
PFAS [Member]
Environmental Remediation [Line Items]
Civil penalty and investigative costs			$ 13,000
Percentage of efficiency to control PFAS							99.999%
Air quality test maximum period to conduct							90 days
Number of lawsuits filed \| lawsuit			4
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%
PFOA [Member]
Environmental Remediation [Line Items]
Number of lawsuits filed \| lawsuit						3		3		2
Compensatory and Punitive Damages [Member]
Environmental Remediation [Line Items]
Number of private well owners seeking for damages \| Owner							1,000
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				$ 670,000			$ 670,000

Commitments and Contingent Liabilities - Schedule of On-Site and Off-Site Components of Accrued Environmental Remediation Liabilities Related to PFAS (Details) - USD ($)
$ in Millions

Sep. 30, 2021

Dec. 31, 2020

Environmental Remediation [Line Items]

Accrued environmental remediation

$ 556

$ 390

Fayetteville Works, Fayetteville, North Carolina [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

^[1]

351

194

Fayetteville Works, Fayetteville, North Carolina [Member] | On-site Remediation [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

296

140

Fayetteville Works, Fayetteville, North Carolina [Member] | Off-site Groundwater Remediation [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

$ 55

$ 54

[1]

(2)

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Accrued Environmental Remediation Liabilities (Details) - USD ($)
$ in Millions

Sep. 30, 2021

Dec. 31, 2020

Environmental Remediation [Line Items]

Current environmental remediation

$ 161

$ 95

Long-term environmental remediation

395

295

Total environmental remediation

556

390

Fayetteville Works, Fayetteville, North Carolina [Member]

Environmental Remediation [Line Items]

Current environmental remediation

105

Long-term environmental remediation

246

155

Total environmental remediation

^[1]

$ 351

$ 194

[1]

(2)

Equity - Narrative (Details) - Common Stock [Member] - 2018 Share Repurchase Program [Member] - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Feb. 13, 2019	Aug. 01, 2018
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount			$ 1,000,000,000	$ 750,000,000
Stock repurchase program effective date		Aug. 01, 2018
Stock repurchases program date of announced to public		Aug. 02, 2018
Stock repurchase program expiration date		Dec. 31, 2020
Stock repurchase program extended expiration date		Dec. 31, 2022
Purchase of common stock under the share repurchase program	2,087,534	2,510,807
Purchase of common stock value under the share repurchase program	$ 67,000,000	$ 82,000,000
Average share price	$ 32.28	$ 32.76
Remaining available amount of common stock under the share repurchase program	$ 346,000,000	$ 346,000,000
Maximum [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount				$ 750,000,000

Stock-based Compensation - Narrative (Details) $ in Millions		3 Months Ended		9 Months Ended
	Jan. 26, 2017 Period shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($) shares	Sep. 30, 2020 USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $		$ 3	$ 3	$ 24	$ 12
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
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, Value \| $		1		$ 1
Stock purchased under employee stock purchase plan, Share				42,000
Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $		$ 2	1	$ 9	8
Number of shares granted				1,150,000
Expiration period				10 years
Stock-based compensation award vesting period				3 years
Stock options outstanding		7,430,000		7,430,000
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $		$ 2	1	$ 9	5
Stock-based compensation award vesting period				3 years
Shares issued upon conversion of equity award		1		1
Number of shares non-vested		1,460,000		1,460,000
Restricted Stock Units (RSUs) [Member] \| Employees and Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted				480,000
Performance Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $		$ 1	$ 1	$ 6	$ 1
Stock-based compensation award vesting period				3 years
Number of shares granted				310,000
Shares issued upon conversion of equity award		1		1
Number of shares non-vested		756,000		756,000
Percentage of target award available for grant				100.00%
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%

Stock-based Compensation - Weighted Average Assumptions of Stock Option (Details) - Stock Option [Member]	9 Months Ended
	Sep. 30, 2021 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	0.91%
Expected term (years)	6 years
Volatility	63.85%
Dividend yield	4.16%
Fair value per stock option	$ 9.78

Accumulated Other Comprehensive Loss - Schedule of Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			$ 813
Other comprehensive loss	$ (14)	$ 33	(22)	$ (53)
Ending Balance	998		998
Net Investment Hedge [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(76)	(10)
Other comprehensive loss			34	(30)
Ending Balance	(42)	(40)	(42)	(40)
Cash Flow Hedge [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(8)	2
Other comprehensive loss			8	(7)
Ending Balance	0	(5)	0	(5)
Currency Translation Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(120)	(231)
Other comprehensive loss			(71)	(19)
Ending Balance	(191)	(250)	(191)	(250)
Defined Benefit Plans [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(106)	(110)
Other comprehensive loss			7	3
Ending Balance	(99)	(107)	(99)	(107)
Accumulated Other Comprehensive (Loss) Income [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(310)	(349)
Other comprehensive loss	(14)	33	(22)	(53)
Ending Balance	$ (332)	$ (402)	$ (332)	$ (402)

- 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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-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 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
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-Section 55
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-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
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-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-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

+ Details

Financial Instruments - Narrative (Details)	3 Months Ended		9 Months Ended		12 Months Ended
Financial Instruments - Narrative (Details)	Sep. 30, 2021 USD ($) contract InterestRateSwap	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($) contract InterestRateSwap	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) contract InterestRateSwap
Derivative [Line Items]
Recognized gains (losses) on derivative cash flow hedge, pre-tax	$ 2,000,000	$ (2,000,000)	$ 5,000,000	$ (4,000,000)
Designated as Hedging Instrument [Member] \| Net Investment Hedge [Member]
Derivative [Line Items]
Recognized gain (loss) on derivative, pre-tax	21,000,000	(32,000,000)	45,000,000	(40,000,000)
Reclassification on derivative, pre-tax	$ 0	0	$ 0	0
Foreign currency forward contracts [Member]
Derivative [Line Items]
Number of forward exchange currency contracts \| contract	18		18		25
Derivative notional value	$ 449,000,000		$ 449,000,000		$ 688,000,000
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)	(1,000,000)	10,000,000	$ (12,000,000)	14,000,000
Gain (loss) reclassification on derivative cash flow hedge	$ (1,000,000)	10,000,000	$ (12,000,000)	14,000,000
Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Number of forward exchange currency contracts \| contract	167		167		144
Derivative notional value	$ 176,000,000		$ 176,000,000		$ 101,000,000
Average maturity period of derivative contract			4 months		4 months
Recognized gains (losses) on derivative cash flow hedge, pre-tax	2,000,000	(2,000,000)	$ 5,000,000	(1,000,000)
Derivative cash flow hedge gain from accumulated other comprehensive loss to cost of goods sold to be reclassified with in twelve months			3,000,000
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 on derivative cash flow hedge	(1,000,000)	1,000,000	(4,000,000)	5,000,000
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Derivative notional value	$ 400,000,000		$ 400,000,000		$ 400,000,000
Number of interest rate swaps \| InterestRateSwap	3		3		3
Interest rate swaps maturity date			Mar. 31, 2023		Mar. 31, 2023
Recognized gain (loss) on derivative, pre-tax				(3,000,000)
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] \| Maximum [Member]
Derivative [Line Items]
Recognized gain (loss) on derivative, pre-tax	$ 1,000,000	(1,000,000)	$ (1,000,000)
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Interest Expense, Net [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Reclassification on derivative, pre-tax			$ (1,000,000)
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)	$ (1,000,000)		$ (1,000,000)

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	Sep. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Liability derivatives	$ 3	$ 8
Foreign currency forward contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives	3	4
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
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	3
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	$ 2	$ 3

Financial Instruments - Schedule of Pre-tax Charge Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
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)	$ 2	$ (2)	$ 5	$ (1)
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)				(3)
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)	21	(32)	45	(40)
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	(1)	1	(4)	5
Interest Expense, Net [Member] \| Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Derivative Instruments			(1)
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	$ (1)	$ 10	$ (12)	$ 14

Long-term Employee Benefits (Schedule of Net Periodic Pension (Cost) Income and Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Total net periodic pension cost			$ (5)	$ (9)
Net gain		$ 1		1
Prior service cost		1		(1)
Amortization of actuarial loss	$ 2	2	6	6
Amortization of prior service gain		(1)	(2)	(2)
Curtailment gain		4		4
Effect of foreign exchange rates	2	(3)	4	(4)
Benefit recognized in other comprehensive income	4	3	8	5
Pension Plan [Member] \| Foreign [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	(4)	(4)	(12)	(11)
Interest cost	(1)	(2)	(4)	(6)
Expected return on plan assets	5	4	15	12
Amortization of actuarial loss	(2)	(2)	(6)	(6)
Amortization of prior service gain		1	2	2
Settlement loss		(1)		(1)
Curtailment gain		1		1
Total net periodic pension cost	(2)	(3)	(5)	(9)
Net gain		1		1
Prior service cost		(1)		(1)
Amortization of actuarial loss	2	2	6	6
Amortization of prior service gain		(1)	(2)	(2)
Settlement loss		1		1
Curtailment gain		4		4
Effect of foreign exchange rates	2	(3)	4	(4)
Benefit recognized in other comprehensive income	4	$ 3	8	5
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$ 2		$ 3	$ (4)

Long-term Employee Benefits (Narrative) (Details) - Defined Benefit Pension Plan [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Employer contributions during period	$ 4	$ 3	$ 12	$ 17
Estimated future employer contributions in current fiscal year	$ 4		$ 4

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Supplemental Cash Flow information - Reconciliation of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Details) - USD ($)
$ in Millions

Sep. 30, 2021

Dec. 31, 2020

Sep. 30, 2020

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Cash and cash equivalents

$ 1,031

$ 1,105

Restricted cash and restricted cash equivalents

^[1]

100

Cash, cash equivalents, restricted cash and restricted cash equivalents

$ 1,131

$ 1,105

$ 956

$ 943

[1]	Restricted cash and restricted cash equivalents balance includes cash and cash equivalents deposited in an escrow account as per the terms of the Company’s MOU agreement which is further discussed in “Note 16 – Commitments and Contingent Liabilities”.

Segment Information - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
Segment Information - Narrative (Details) $ in Millions	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($) segment	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			4
Depreciation and amortization	$ 78	$ 79	$ 242	$ 240
Total assets	7,530		7,530		$ 7,082
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	8	$ 6	23	$ 23
Total assets	$ 1,929		$ 1,929		$ 1,860

- 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
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+ Details

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 1,680	$ 1,233	$ 4,770	$ 3,631
Adjusted EBITDA	414	253	1,165	756
Depreciation and amortization	78	79	242	240
Total Assets	7,530		7,530		$ 7,082
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	1,680	1,233	4,770	3,631
Adjusted EBITDA	414	253	1,165	756
Depreciation and amortization	70	73	219	217
Total Assets	5,601		5,601		5,222
Operating Segments [Member] \| Titanium Technologies [Member]
Segment Reporting Information [Line Items]
Net sales	908	612	2,490	1,711
Adjusted EBITDA	223	129	611	361
Depreciation and amortization	31	32	95	95
Total Assets	2,349		2,349		2,130
Operating Segments [Member] \| Thermal & Specialized Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	318	293	962	832
Adjusted EBITDA	105	105	315	249
Depreciation and amortization	15	13	45	40
Total Assets	1,100		1,100		1,041
Operating Segments [Member] \| Advanced Performance Materials [Member]
Segment Reporting Information [Line Items]
Net sales	356	240	1,051	825
Adjusted EBITDA	71	7	196	101
Depreciation and amortization	21	22	65	66
Total Assets	1,605		1,605		1,520
Operating Segments [Member] \| Chemical Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	98	88	267	263
Adjusted EBITDA	15	12	43	45
Depreciation and amortization	3	$ 6	14	$ 16
Total Assets	$ 547		$ 547		$ 531

Segment Information - Reconciliation of Segment Adjusted EBITDA from Segments to Consolidated Net Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Adjusted EBITDA	$ 414	$ 253	$ 1,165	$ 756
Corporate and Other expenses (excluding items below)	(42)	(43)	(159)	(123)
Interest expense, net	(45)	(53)	(142)	(160)
Depreciation and amortization	(78)	(79)	(242)	(240)
Non-operating pension and other post-retirement employee benefit income	2	1	7	2
Exchange gains (losses), net	3	(9)	(2)	(28)
Restructuring, asset-related, and other charges	(3)	(9)	(2)	(37)
Loss on extinguishment of debt	(20)	0	(20)	0
Gain on sales of assets and businesses	1	0	2	0
Natural disasters and catastrophic events			(19)
Transaction costs	(2)		(7)	(2)
Qualified spend recovery amount recognized	12		12
Legal and environmental charges	(11)	(1)	(219)	(12)
Income before income taxes	$ 231	$ 60	$ 374	$ 156

Segment Information - Reconciliation of Segment Adjusted EBITDA from Segments to Consolidated Net Income (Loss) Before Income Taxes (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Legal charges	$ 11	$ 1	$ 219	$ 12
Construction of Barrier Wall and Operation of Groundwater Extraction and Treatment System [Member]
Segment Reporting Information [Line Items]
Legal charges			$ 169