0000950170-23-015878 | 10-Q | XBRL Viewer

Other Accrued Liabilities

Note 13. Other Accrued Liabilities

The following table sets forth the components of the Company’s other accrued liabilities at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Accrued litigation (1)	$	35	$	41
Asset retirement obligations (2)		11		10
Income taxes		33		19
Customer rebates		49		90
Accrued interest		47		17
Operating lease liabilities		50		49
Miscellaneous (3)		75		74
Total other accrued liabilities	$	300	$	300

(1)

Represents the current portion of accrued litigation (see “Note 16 – Commitments and Contingent Liabilities”).

(2)

Represents the current portion of asset retirement obligations (see “Note 15 – Other Liabilities”).

(3)

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

Equity

3 Months Ended

Mar. 31, 2023

Stockholders Equity Note [Abstract]

Equity

Note 17. Equity

2018 Share Repurchase Program

The following table sets forth the Company’s share repurchase activity under the 2018 Share Repurchase Program for the three months ended March 31, 2023 and 2022, respectively.


	Three Months Ended March 31,
	2023		2022
Total number of shares purchased		—		4,851,966
Total amount for shares purchased	$	—	$	146
Average price paid per share	$	—	$	30.06

On May 19, 2022, the Company completed the aggregate $1,000 in authorized purchases of Chemours' issued and outstanding common stock under the 2018 Share Repurchase Program, which amounted to a cumulative 28,603,784 shares purchased at an average share price of $34.96 per share.

2022 Share Repurchase Program

On April 27, 2022, 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 repurchase activity (the “2022 Share Repurchase Program”). Under the 2022 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 2022 Share Repurchase Program became effective on April 27, 2022 and is scheduled to continue through the earlier of its expiration on December 31, 2025 or the completion of repurchases up to the approved amount. The program may be suspended or discontinued at any time. All common shares purchased under the 2022 Share Repurchase Program are expected to be held as treasury stock and accounted for using the cost method.

The following table sets forth the Company’s share repurchase activity under the 2022 Share Repurchase Program for the three months ended March 31, 2023 and 2022, respectively.


	Three Months Ended March 31,
	2023		2022
Total number of shares purchased		386,000		—
Total amount for shares purchased	$	13	$	—
Average price paid per share	$	33.77	$	—

Through March 31, 2023, the Company purchased a cumulative 8,620,314 shares of Chemours’ issued and outstanding common stock under the 2022 Share Repurchase Program, which amounted $254 at an average share price of $29.45 per share. The aggregate amount of Chemours’ common stock that remained available for purchase under the 2022 Share Repurchase Program at March 31, 2023 was $496.

The Company purchased an aggregate 386,000 and 4,851,966 shares of Chemours’ issued and outstanding common stock under the 2018 and 2022 Share Repurchase Program during the three months ended March 31, 2023 and 2022, respectively, which amounted to $13 and $146 at an average share price of $33.77 and $30.06 per share, respectively.

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.

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Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets

3 Months Ended

Mar. 31, 2023

Other Assets

Note 11. Other Assets

The following table sets forth the components of the Company’s other assets at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Capitalized repair and maintenance costs	$	210	$	240
Pension assets (1)		54		50
Deferred income taxes		156		152
Miscellaneous (2)		82		81
Total other assets	$	502	$	523

(1)

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

(2)

Miscellaneous includes corresponding income tax benefits related to uncertain tax positions on transfer pricing.

Restructuring, Asset-Related, and Other Charges - Restructuring Program Schedule (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	$ 6
Charges to income	1
Payments	(1)
Restructuring reserve, ending	6
2022 Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	6
Payments	(1)
Restructuring reserve, ending	5
ERP Implementation Abandonment [Member]
Restructuring Reserve [Roll Forward]
Charges to income	1
Restructuring reserve, ending	$ 1

Property, Plant, and Equipment, Net (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and December 31, 2022.


	March 31, 2023			December 31, 2022
Equipment	$	7,862		$	7,745
Buildings		1,216			1,180
Construction-in-progress		281			324
Land		104			102
Mineral rights		36			36
Property, plant, and equipment		9,499			9,387
Less: Accumulated depreciation		(6,319	)		(6,216	)
Total property, plant, and equipment, net	$	3,180		$	3,171

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

Mar. 31, 2023

Dec. 31, 2022

Fayetteville Works, Fayetteville, North Carolina [Member]

$ 648

$ 668

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

^[1]

449

465

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

254

264

$ 195

$ 201

[1]	For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 16 – Commitments and Contingent Liabilities”.

Net Sales - Narrative (Details1) - Topic 606 [Member]	Mar. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	24.00%
Remaining performance obligations original expected period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	23.00%
Remaining performance obligations original expected period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	17.00%
Remaining performance obligations original expected period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	17.00%
Remaining performance obligations original expected period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	17.00%
Remaining performance obligations original expected period	1 year

Background, Description of the Business, and Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Background, Description of the Business, and Basis of Presentation	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, and oil and gas. The Company’s principal products include titanium dioxide (“TiO2”) pigment, refrigerants, industrial fluoropolymer resins, and performance chemicals and intermediates. Chemours manages and reports its operating results through its three reportable segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment is a leading, global provider of TiO2 pigment, a premium white pigment used to deliver whiteness, brightness, opacity, durability, efficiency and protection across a variety of applications. The Thermal & Specialized Solutions segment is a leading, global provider of refrigerants, thermal management solutions, propellants, blowing agents, and specialty solvents. The Advanced Performance Materials segment is a leading, global provider of high-end polymers and advanced materials that deliver unique attributes, including low friction coefficients, extreme temperature resistance, weather resistance, ultraviolet and chemical resistance, and electrical insulation. The Performance Chemicals and Intermediates business is included in Other Segment. Unless the context otherwise requires, references herein to “The Chemours Company”, “Chemours”, “the Company”, “our Company”, “we”, “us”, and “our” refer to The Chemours Company and its consolidated subsidiaries. References herein to “EID” refer to EIDP, Inc., formerly known as E. I. du Pont de Nemours and Company, which is Chemours’ former parent company and is now a subsidiary of Corteva, Inc. (“Corteva”). Reference herein to “DuPont” refer to DuPont de Nemours, Inc. 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, 2022. 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.

Segment Information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Information

23. Segment Information

Chemours operates through its three reportable segments, which were organized based on their similar economic characteristics, the nature of products and production processes, end-use markets, channels of distribution, and regulatory environments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Company’s Performance Chemicals and Intermediates business is included in Other Segment. 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.

Adjusted earnings before interest, taxes, depreciation, and amortization ("Adjusted EBITDA") is the primary measure of segment profitability used by the Company’s Chief Operating Decision Maker ("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 non-service cost component of net periodic pension costs;

•

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, including Qualified Spend reimbursable by DuPont and/or Corteva as part of the Company’s cost-sharing agreement under the terms of the MOU that were previously excluded from Adjusted EBITDA.

The following table sets forth certain summary financial information for the Company’s reportable segments for the periods presented.


	Titanium Technologies		Thermal & Specialized Solutions		Advanced Performance Materials		Other Segment		Segment Total
Three Months Ended March 31, 2023
Net sales to external customers	$	632	$	486	$	388	$	30	$	1,536
Adjusted EBITDA		70		185		84		10		349
Depreciation and amortization		34		16		21		2		73

Three Months Ended March 31, 2022
Net sales to external customers	$	928	$	425	$	385	$	26	$	1,764
Adjusted EBITDA		206		174		88		—		468
Depreciation and amortization		32		14		21		2		69

Total Assets
March 31, 2023	$	2,522	$	1,346	$	1,791	$	128	$	5,787
December 31, 2022		2,384		1,238		1,742		124		5,488

Corporate and Other depreciation and amortization expense amounted to $6 and $5 for the three months ended March 31, 2023 and 2022, respectively. Corporate and Other total assets amounted to $1,837 and $2,152 at March 31, 2023 and December 31, 2022, respectively.

The following table sets forth a reconciliation of Segment Adjusted EBITDA to the Company’s consolidated income (loss) before income taxes for the three months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023			2022
Segment Adjusted EBITDA	$	349		$	468
Corporate and Other expenses (excluding items below)		(45	)		(65	)
Interest expense, net		(42	)		(41	)
Depreciation and amortization		(79	)		(74	)
Non-operating pension and other post-retirement employee benefit income		—			1
Exchanges losses, net		(7	)		—
Restructuring, asset-related, and other charges (1)		(16	)		(16	)
Gain on sales of assets and businesses		—			1
Qualified spend recovery (2)		14			14
Legal and environmental charges (3,4)		(1	)		(8	)
Income before income taxes	$	173		$	280

(1)

In 2023, restructuring, asset-related, and other charges primarily includes charges related to the Company's decision to abandon its implementation of a new ERP software platform. In 2022, includes asset charges and write-offs resulting from the conflict between Russia and Ukraine and the Company’s decision to suspend its business with Russian entities. Refer to "Note 4 - Restructuring, Asset-related, and Other charges" for further details.

(2)

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".

(3)

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

(4)

Environmental charges pertains to management’s assessment of estimated liabilities associated with certain non-recurring environmental remediation expenses at various sites. Refer to “Note 16 – Commitments and Contingent Liabilities” for further details.

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.

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Debt - Components of Debt (Details) € in Millions, $ in Millions	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Finance lease liabilities		$ 59		$ 61
Financing obligation		91		91
Total debt principal		3,649		3,641
Less: Unamortized issue discounts		(4)		(4)
Less: Unamortized debt issuance costs		(21)		(22)
Less: Short-term and current maturities of long-term debt		(25)		(25)
Total long-term debt, net		3,599		3,590
Senior Secured Tranche B-2 U.S Dollar Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt		764		766
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 333	360	€ 333	355
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 441	477	€ 441	470
5.375% Senior Unsecured Notes Due May 2027 [Member]
Debt Instrument [Line Items]
Long-term debt		495		495
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt		783		783
4.625% Senior Unsecured Notes Due November 2029 [Member]
Debt Instrument [Line Items]
Long-term debt		$ 620		$ 620

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Capitalized repair and maintenance costs	$ 210	$ 240
Pension assets	54	50
Deferred income taxes	156	152
Miscellaneous	82	81
Total other assets	$ 502	$ 523

Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement Of Financial Position [Abstract]
Common stock , par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	810,000,000	810,000,000
Common stock, shares Issued (in shares)	196,365,544	195,375,810
Common stock, shares outstanding (in shares)	149,107,764	148,504,030
Treasury stock (in shares)	47,257,780	46,871,780

Accounts Payable

3 Months Ended

Mar. 31, 2023

Accounts Payable

Note 12. Accounts Payable

The following table sets forth the components of the Company’s accounts payable at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Trade payables	$	1,142	$	1,228
VAT and other payables		24		23
Total accounts payable	$	1,166	$	1,251

Supplier Financing

The Company maintains supply chain finance programs with several financial institutions. The programs allow its suppliers to sell their receivables to one of the participating financial institutions at the discretion of both parties on terms that are negotiated between the supplier and the respective financial institution. Pursuant to their agreement with a financial institution, certain suppliers may elect to be paid early at their discretion. The key terms of the supplier invoice, including the amounts due and scheduled payment dates, are not impacted by its suppliers’ decisions to sell their receivables under the programs. As such, the Company agrees to pay the financial institution on those sold invoices on the original invoice due date. There are no assets pledged or other forms of guarantees associated with these programs. The Company or the financial institution may terminate the program upon at least 30 days' notice.

The outstanding payment obligations at March 31, 2023 and December 31, 2022 were $258 and $158, respectively, and are included in Accounts Payable in the Consolidated Balance Sheets.

Other Accrued Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Other Accrued Liabilities

The following table sets forth the components of the Company’s other accrued liabilities at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Accrued litigation (1)	$	35	$	41
Asset retirement obligations (2)		11		10
Income taxes		33		19
Customer rebates		49		90
Accrued interest		47		17
Operating lease liabilities		50		49
Miscellaneous (3)		75		74
Total other accrued liabilities	$	300	$	300

(1)

Represents the current portion of accrued litigation (see “Note 16 – Commitments and Contingent Liabilities”).

(2)

Represents the current portion of asset retirement obligations (see “Note 15 – Other Liabilities”).

(3)

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

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

3 Months Ended

Mar. 31, 2023

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 months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023		2022
Employee separation charges	$	1	$	5
Decommissioning and other charges		4		1
Total restructuring and other charges		5		6
Asset-related charges (1)		11		5
Total restructuring, asset-related, and other charges	$	16	$	11

(1)

In 2022, asset-related charges include asset charges resulting from the conflict between Russia and Ukraine and the Company's decision to suspend its business with Russian entities.

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 three months ended March 31, 2023.


	2022 Restructuring Programs			ERP Implementation Abandonment		Total
Balance at December 31, 2022	$	6		$	—	$	6
Charges to income		—			1		1
Payments		(1	)		—		(1	)
Balance at March 31, 2023	$	5		$	1	$	6

Inventories

3 Months Ended

Mar. 31, 2023

Inventory Net [Abstract]

Inventories

Note 8. Inventories

The following table sets forth the components of the Company’s inventories at March 31, 2023 and December 31, 2022.


	March 31, 2023			December 31, 2022
Finished products	$	956		$	910
Semi-finished products		222			218
Raw materials, stores, and supplies		680			654
Inventories before LIFO adjustment		1,858			1,782
Less: Adjustment of inventories to LIFO basis		(372	)		(378	)
Total inventories	$	1,486		$	1,404

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 the Company’s U.S. locations, which comprised $881 and $835 (or 47% and 47%, respectively) of inventories before the LIFO adjustments at March 31, 2023 and December 31, 2022, respectively. The Company’s inventories held in international locations are valued under the average cost method.

Other Income (Expense), Net - Components of Other Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income And Expenses [Abstract]
Leasing, contract services and miscellaneous income	$ 6	$ 4
Royalty income	2	0
Gain on sales of assets and businesses, net	0	1
Exchange losses, net	(7)	0
Non-operating pension and other post-retirement employee benefit income	0	1
Total other income, net	$ 1	$ 6

Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Recent Accounting Pronouncements

Note 2. Recent Accounting Pronouncements

Recently Adopted Accounting Guidance

Facilitation of the Effects of Reference Rate Reform on Financial Reporting

In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides 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. In December 2022, the FASB issued ASU 2022-06, Deferral of the Sunset Date of Topic 848 ("ASU 2022-06"), which extended the expiration date of ASU 2020-04 to December 31, 2024. The Company utilized an optional expedient provided under ASU 2020-04 in the first quarter of 2023 in connection with the amendment to its senior secured credit facilities (see "Note 14 – Debt"). As a result, the amendment did not result in any accounting modifications.

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 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 Company will apply the provisions of ASU 2021-08 to future acquisitions, if any.

Disclosure of Supplier Finance Program Obligations

In September 2022, the FASB issued ASU 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations ("ASU 2022-04"), which requires entities that use supplier finance programs in connection with the purchase of goods and services to disclose qualitative and quantitative information about their programs, including key terms and activity during the period. The guidance will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted, and should be applied retrospectively to each period in which a balance sheet is presented subject to certain exceptions. The Company adopted the provisions of ASU 2022-04 in the first quarter of 2023, and provided the required disclosure under its transition guidance in "Note 12 – Accounts Payable".

Interim Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Stockholders Equity [Abstract]
Dividends per share declared during period	$ 0.25	$ 0.25

Accounts Payable (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Accounts Payable

The following table sets forth the components of the Company’s accounts payable at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Trade payables	$	1,142	$	1,228
VAT and other payables		24		23
Total accounts payable	$	1,166	$	1,251

Property, Plant, and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property Plant And Equipment [Abstract]
Finance leased assets, gross	$ 91		$ 91
Depreciation expense	$ 75	$ 73

Other Income (Expense), Net (Tables)

3 Months Ended

Mar. 31, 2023

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 months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023			2022
Leasing, contract services, and miscellaneous income	$	6		$	4
Royalty income (1)		2			—
Gain on sales of assets and businesses, net		—			1
Exchange losses, net (2)		(7	)		—
Non-operating pension and other post-retirement employee benefit income (3)		—			1
Total other income, net	$	1		$	6

(1)

Royalty income 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 non-service component of net periodic pension income.

Equity - Schedule of Share Repurchase Activity (Details) - Common Stock [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		11 Months Ended	46 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	May 19, 2022
2018 Share Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Total number of shares purchased		4,851,966		28,603,784
Total amount for shares purchased		$ 146
Average price paid per share		$ 30.06		$ 34.96
2022 Share Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Total number of shares purchased	386,000		8,620,314
Total amount for shares purchased	$ 13		$ 254
Average price paid per share	$ 33.77		$ 29.45

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, 2021	$ 1,082	$ 2	$ (1,247)	$ 944	$ 1,746	$ (364)	$ 1
Shares, beginning balance at Dec. 31, 2021		191,860,159	30,813,427
Common stock issued - compensation plans (in shares)		296,384
Exercise of stock options	6			6
Exercise of stock options (in shares)		352,742
Purchases of treasury stock, at cost	(146)		$ (146)
Purchases of treasury stock at cost (in shares)			4,851,966
Stock-based compensation expense	10			10
Cancellation of unissued stock awards withheld to cover taxes	(4)			(4)
Net Income	234				234
Dividends	(40)				(40)
Other comprehensive loss	25					25
Total stockholders' equity, ending balance at Mar. 31, 2022	1,167	$ 2	$ (1,393)	956	1,940	(339)	1
Shares, ending balance at Mar. 31, 2022		192,509,285	35,665,393
Total stockholders' equity, beginning balance at Dec. 31, 2022	1,107	$ 2	$ (1,738)	1,016	2,170	(343)
Shares, beginning balance at Dec. 31, 2022		195,375,810	46,871,780
Common stock issued - compensation plans (in shares)		849,164
Exercise of stock options	2			2
Exercise of stock options (in shares)		140,570
Purchases of treasury stock, at cost	(13)		$ (13)
Purchases of treasury stock at cost (in shares)			386,000
Stock-based compensation expense	4			4
Cancellation of unissued stock awards withheld to cover taxes	(18)			(18)
Net Income	146				145		1
Dividends	(37)				(37)
Other comprehensive loss	37					37
Total stockholders' equity, ending balance at Mar. 31, 2023	$ 1,228	$ 2	$ (1,751)	$ 1,004	$ 2,278	$ (306)	$ 1
Shares, ending balance at Mar. 31, 2023		196,365,544	47,257,780

Accounts and Notes Receivable, Net - Schedule of Accounts and Notes Receivable (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable - trade, net	$ 722	$ 509
Allowance for doubtful accounts receivable	4	10
Trade Notes Receivable [Member]
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable - trade, net	$ 2	$ 3

Stock-based Compensation - Narrative (Details) - USD ($) $ in Millions		3 Months Ended
	Mar. 01, 2023	Mar. 31, 2023	Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 4	$ 10
Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 2	2
Number of shares granted	560,000
Expiration period	10 years
Stock-based compensation award vesting period	3 years
Stock options outstanding		5,000,000
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 2	3
Stock-based compensation award vesting period		3 years
Shares issued upon conversion of equity award		1
Number of shares non-vested		1,170,000
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		270,000
Performance Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 5
Stock-based compensation award vesting period	3 years
Number of shares granted	103,000
Shares issued upon conversion of equity award	1
Number of shares non-vested		524,000
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]
Stock-based compensation expense (benefit)		$ (1)
Percentage of target award available for grant	200.00%
Performance Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration period	10 years
Stock-based compensation award vesting period	3 years
Number of shares granted	240,000
Strike price percentage	10.00%
Performance Stock Option [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 1

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following table sets forth the changes and after-tax balances of the Company’s accumulated other comprehensive loss for the three months ended March 31, 2023 and 2022.


	Net Investment Hedge			Cash Flow Hedge			Cumulative Translation Adjustment			Defined Benefit Plans			Total
Balance at January 1, 2023	$	19		$	6		$	(268	)	$	(100	)	$	(343	)
Other comprehensive income (loss)		(11	)		(10	)		58			—			37
Balance at March 31, 2023	$	8		$	(4	)	$	(210	)	$	(100	)	$	(306	)

Balance at January 1, 2022	$	(21	)	$	5		$	(236	)	$	(112	)	$	(364	)
Other comprehensive income (loss)		20			6			(5	)		4			25
Balance at March 31, 2022	$	(1	)	$	11		$	(241	)	$	(108	)	$	(339	)

Long-term Employee Benefits

3 Months Ended

Mar. 31, 2023

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 and amounts recognized in other comprehensive income (loss) for the three months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023			2022
Service cost	$	(2	)	$	(4	)
Interest cost		(4	)		(2	)
Expected return on plan assets		5			5
Amortization of actuarial loss		(2	)		(2	)
Amortization of prior service gain		1			—
Total net periodic pension cost	$	(2	)	$	(3	)

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

The Company made cash contributions of $5 to its defined benefit pension plans during the three months ended March 31, 2023 and 2022, respectively. The Company expects to make additional cash contributions of $6 to its defined benefit pension plans during the remainder of 2023.

The entire disclosure for retirement benefits.

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Net income attributable to Chemours

Earnings Per Share of Common Stock - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Numerator:

$ 145

$ 234

Denominator:

Weighted-average number of common shares outstanding - basic

148,997,084

159,897,673

Dilutive effect of the Company’s employee compensation plans

2,182,181

3,681,907

Weighted-average number of common shares outstanding - diluted

151,179,265

163,579,580

Basic earnings per share of common stock

^[1]

$ 0.97

$ 1.46

Diluted earnings per share of common stock

^[1]

$ 0.96

$ 1.43

[1]	Figures may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.

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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Schedule of Debt Principal Maturities

Equity - Narrative (Details) - Common Stock [Member] - USD ($)		3 Months Ended		11 Months Ended	46 Months Ended
	Apr. 27, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	May 19, 2022
2018 Share Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount					$ 1,000,000,000
Average price paid per share			$ 30.06		$ 34.96
Total number of shares purchased			4,851,966		28,603,784
Total amount for shares purchased			$ 146,000,000
2022 Share Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Average price paid per share		$ 33.77		$ 29.45
Total number of shares purchased		386,000		8,620,314
Total amount for shares purchased		$ 13,000,000		$ 254,000,000
Stock repurchase program effective date	Apr. 27, 2022
Stock repurchase program expiration date	Dec. 31, 2025
Remaining available amount of common stock under the share repurchase program		$ 496,000,000		$ 496,000,000
2022 Share Repurchase Program [Member] \| Maximum [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 750,000,000
2018 and 2022 Share Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Average price paid per share		$ 33.77	$ 30.06
Total number of shares purchased		386,000	4,851,966
Total amount for shares purchased		$ 13,000,000	$ 146,000,000

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	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 0	$ 2
Liability derivatives	4	5
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	0	0
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	0	2
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	$ 3	$ 4

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Accrued litigation	$ 35	$ 41
Asset retirement obligations	11	10
Income taxes	33	19
Customer rebates	49	90
Accrued interest	47	17
Operating lease liabilities	50	49
Miscellaneous	75	74
Total other accrued liabilities	$ 300	$ 300

Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Components of Debt

The following table sets forth the components of the Company’s debt at March 31, 2023 and December 31, 2022.


	March 31, 2023			December 31, 2022
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	764		$	766
Tranche B-2 euro term loan due April 2025 (€333 at March 31, 2023 and December 31, 2022)		360			355
Senior unsecured notes:
4.000% due May 2026 (€441 at March 31, 2023 and December 31, 2022)		477			470
5.375% due May 2027		495			495
5.750% due November 2028		783			783
4.625% due November 2029		620			620
Finance lease liabilities		59			61
Financing obligation (1)		91			91
Total debt principal		3,649			3,641
Less: Unamortized issue discounts		(4	)		(4	)
Less: Unamortized debt issuance costs		(21	)		(22	)
Less: Short-term and current maturities of long-term debt		(25	)		(25	)
Total long-term debt, net	$	3,599		$	3,590

(1)

At March 31, 2023 and December 31, 2022, financing obligation relates to 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”).

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


Remainder of 2023	$	9
2024		13
2025		1,102
2026		477
2027		495
Thereafter		1,403
Total principal maturities on debt	$	3,499

Estimated Fair Values of Senior Debt Issues

The following table sets forth the estimated fair values of the Company’s senior debt issues, which are based on quotes received from third-party brokers, and are classified as Level 2 financial instruments in the fair value hierarchy.


	March 31, 2023					December 31, 2022
	Carrying Value			Fair Value		Carrying Value			Fair Value
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	764		$	761	$	766		$	755
Tranche B-2 euro term loan due April 2025 (€333 at March 31, 2023 and December 31, 2022)		360			358		355			345
Senior unsecured notes:
4.000% due May 2026 (€441 at March 31, 2023 and December 31, 2022)		477			441		470			422
5.375% due May 2027		495			463		495			459
5.750% due November 2028		783			702		783			702
4.625% due November 2029		620			515		620			509
Total senior debt principal		3,499		$	3,240		3,489		$	3,192
Less: Unamortized issue discounts		(4	)				(4	)
Less: Unamortized debt issuance costs		(21	)				(22	)
Total senior debt, net	$	3,474				$	3,463

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.

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Debt - Estimated Fair Values of Senior Debt Issues (Parenthetical) (Details) € in Millions, $ in Millions	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 441	$ 477	€ 441	$ 470
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		$ 495		$ 495
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		$ 783		$ 783
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		$ 620		$ 620
Debt instrument interest rate	4.625%	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	€ 333	$ 360	€ 333	$ 355

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

Mar. 31, 2023

Dec. 31, 2022

$ 89

$ 96

Asbestos [Member]

PFOA [Member]

All Other Matters [Member]

^[1]

Derivative Instruments And Hedging Activities Disclosure [Abstract]

$ 9

$ 16

[1]	At March 31, 2023 and December 31, 2022, PFOA includes $20 associated with the Company's portion of the potential loss in the single matter not included in the Leach settlement. For information regarding this matter, refer to "PFOA" within this "Note 16 - Commitments and Contingent Liabilities".

Financial Instruments

3 Months Ended

Mar. 31, 2023

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 includes 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 variable interest rates, 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 March 31, 2023, the Company had 14 foreign currency forward contracts outstanding with an aggregate gross notional U.S. dollar equivalent of $261, and an average maturity of one month. At December 31, 2022, the Company had 9 foreign currency forward contracts outstanding with an aggregate gross notional U.S. dollar equivalent of $180, and an average maturity of one month. Chemours recognized net losses of $5 each for the three months ended March 31, 2023 and 2022, in other income (expense), net.

Cash Flow Hedge – Foreign Currency Forward Contracts

At March 31, 2023, the Company had 124 foreign currency forward contracts outstanding under its cash flow hedge program with an aggregate notional U.S. dollar equivalent of $168, and an average maturity of four months. At December 31, 2022, the Company had 153 foreign currency forward contracts outstanding under its cash flow hedge program with an aggregate notional U.S. dollar equivalent of $180, and an average maturity of four months. Chemours recognized pre-tax losses of $1 and pre-tax gains of $5 for the three months ended March 31, 2023 and 2022, respectively, within accumulated other comprehensive loss. For the three months ended March 31, 2023 and 2022, $6 and $3 of gain was reclassified to the cost of goods sold from accumulated other comprehensive loss, respectively.

The Company expects to reclassify approximately $3 of net pre-tax loss, based on current foreign currency exchange rates, from accumulated other comprehensive loss to the cost of goods sold over the next 12 months.

Cash Flow Hedge – Interest Rate Swaps

In September 2022, the Company terminated all of its outstanding interest rate swaps, which resulted in a cash settlement of $8. Chemours recognized a pre-tax gain of $5 for the three months ended March 31, 2022 within accumulated other comprehensive loss. For the three months ended March 31, 2023 and 2022, $4 of gain and $1 of loss were reclassified to interest expense, net from accumulated other comprehensive loss, respectively.

Net Investment Hedge – Foreign Currency Borrowings

The Company recognized pre-tax losses of $14 and pre-tax gains of $26 for the three months ended March 31, 2023 and 2022, 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 months ended March 31, 2023 and 2022.

Fair Value of Derivative Instruments

The following table sets forth the fair value of the Company’s derivative assets and liabilities at March 31, 2023 and December 31, 2022.


		Fair Value Using Level 2 Inputs
	Balance Sheet Location	March 31, 2023		December 31, 2022
Asset derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Accounts and notes receivable, net (Note 7)	$	—	$	—
Foreign currency forward contracts designated as a cash flow hedge	Accounts and notes receivable, net (Note 7)		—		2
Total asset derivatives		$	—	$	2

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)		3		4
Total liability derivatives		$	4	$	5

The Company’s foreign currency forward contracts 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 months ended March 31, 2023 and 2022.


	Gain (Loss) Recognized In
									Accumulated
									Other
	Cost of		Interest			Other Income			Comprehensive
Three Months Ended March 31,	Goods Sold		Expense, Net			(Expense), Net			Loss
2023
Foreign currency forward contracts not designated as a hedging instrument	$	—	$	—		$	(5	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		6		—			—			(1	)
Interest rate swaps designated as a cash flow hedge		—		4			—			—
Euro-denominated debt designated as a net investment hedge		—		—			—			(14	)

2022
Foreign currency forward contracts not designated as a hedging instrument	$	—	$	—		$	(5	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		3		—			—			5
Interest rate swaps designated as a cash flow hedge		—		(1	)		—			5
Euro-denominated debt designated as a net investment hedge		—		—			—			26

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

Mar. 31, 2023

Dec. 31, 2022

Mar. 31, 2022

Dec. 31, 2021

Supplemental Cash Flow Elements [Abstract]

Cash and cash equivalents

$ 816

$ 1,102

Restricted cash and restricted cash equivalents

^[1]

205

202

Cash, cash equivalents, restricted cash and restricted cash equivalents

$ 1,021

$ 1,304

$ 1,245

$ 1,551

[1]	Restricted cash and restricted cash equivalents balance includes cash and cash equivalents deposited in an escrow account as per the terms of the MOU (see “Note 16 – Commitments and Contingent Liabilities”).

Restructuring, Asset-Related, and Other Charges

3 Months Ended

Mar. 31, 2023

Restructuring And Related Activities [Abstract]

Restructuring, Asset-Related, and Other Charges

Note 4. 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 months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023		2022
Employee separation charges	$	1	$	5
Decommissioning and other charges		4		1
Total restructuring and other charges		5		6
Asset-related charges (1)		11		5
Total restructuring, asset-related, and other charges	$	16	$	11

(1)

In 2022, asset-related charges include asset charges resulting from the conflict between Russia and Ukraine and the Company's decision to suspend its business with Russian entities.

Enterprise Resource Planning ("ERP") Implementation Abandonment Charges

During the first quarter of 2023, the Company decided to abandon its implementation of a new ERP software platform and recorded the following charges: $11 write-off of previously deferred software development costs determined to have no alternative use, $4 related to contract termination charges, and $1 of employee separation charges. Employee severance payments related to this charge are expected to be substantially complete by the end of 2023.

2022 Restructuring Programs

In 2022, management initiated severance programs that were largely attributable to further aligning the cost structure of the Company’s businesses and corporate functions with its financial objectives. The Company recorded employee separation charges of $5 for its 2022 restructuring programs during the three months ended March 31, 2022. As of March 31, 2023, the cumulative amount incurred, in the aggregate, for the Company's 2022 restructuring programs amounted to $9. The severance costs were recognized as follows: $1 in Titanium Technologies, $1 in Thermal & Specialized Solutions, $3 in Advanced Performance Materials and $4 in Corporate and Other. The program and related severance payments are expected to be substantially completed by first quarter of 2024.

The following table sets forth the change in the Company’s employee separation-related liabilities associated with its restructuring programs for the three months ended March 31, 2023.


	2022 Restructuring Programs			ERP Implementation Abandonment		Total
Balance at December 31, 2022	$	6		$	—	$	6
Charges to income		—			1		1
Payments		(1	)		—		(1	)
Balance at March 31, 2023	$	5		$	1	$	6

At March 31, 2023, there were no significant outstanding liabilities related to the Company’s decommissioning and other restructuring-related charges.

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 1,107
Other comprehensive income (loss)	37	$ 25
Ending Balance	1,227
Net Investment Hedge [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	19	(21)
Other comprehensive income (loss)	(11)	20
Ending Balance	8	(1)
Cash Flow Hedge [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	6	5
Other comprehensive income (loss)	(10)	6
Ending Balance	(4)	11
Currency Translation Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(268)	(236)
Other comprehensive income (loss)	58	(5)
Ending Balance	(210)	(241)
Defined Benefit Plans [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(100)	(112)
Other comprehensive income (loss)		4
Ending Balance	(100)	(108)
Accumulated Other Comprehensive (Loss) Income [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(343)	(364)
Other comprehensive income (loss)	37	25
Ending Balance	$ (306)	$ (339)

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.

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-Paragraph 1
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General Discussion Of Pension And Other Postretirement Benefits [Abstract]

Long-term Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2023

Schedules of Net Periodic Pension Cost

The following table sets forth the Company’s net periodic pension cost and amounts recognized in other comprehensive income (loss) for the three months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023			2022
Service cost	$	(2	)	$	(4	)
Interest cost		(4	)		(2	)
Expected return on plan assets		5			5
Amortization of actuarial loss		(2	)		(2	)
Amortization of prior service gain		1			—
Total net periodic pension cost	$	(2	)	$	(3	)

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

Commitments and Contingent Liabilities - Litigation - Narrative (Details)		1 Months Ended						3 Months Ended		12 Months Ended
	Jul. 13, 2021 USD ($)	Jan. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Jan. 31, 2021 USD ($) Plaintiff	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($) Lawsuit	Mar. 31, 2017 USD ($) Lawsuit	Mar. 31, 2023 USD ($) Lawsuit Water_district	Mar. 31, 2022 USD ($)	Dec. 31, 2004 Resident	Dec. 31, 2022 USD ($) Lawsuit	Oct. 31, 2020 Lawsuit
Loss Contingencies [Line Items]
Aggregate amount of qualified spend				$ 4,000,000,000
Accrual balance								$ 89,000,000			$ 96,000,000
Loss contingency accrual period decrease			$ (250,000)
Funding for medical monitoring program [Member]
Loss Contingencies [Line Items]
Escrow deposit disbursements								$ 2,000,000
First MDL Settlement [Member]
Loss Contingencies [Line Items]
Date of agreement month and year								2017-03
Total settlement amount							$ 670,700,000
PFOA After First MDL Settlement [Member]
Loss Contingencies [Line Items]
Number of individual plaintiffs \| Plaintiff				96
PFOA Second MDL Settlement [Member]
Loss Contingencies [Line Items]
Total settlement amount				$ 83,000,000
Asbestos Issue [Member]
Loss Contingencies [Line Items]
Lawsuits alleging personal injury - Filed \| Lawsuit								900			900
Accrual balance								$ 35,000,000			$ 35,000,000
Benzene Related Illness [Member]
Loss Contingencies [Line Items]
Lawsuits alleging illness \| Lawsuit								19			18
PFOA Matters [Member]
Loss Contingencies [Line Items]
Accrual balance								$ 25,000,000			$ 25,000,000
Number of lawsuits filed \| Lawsuit								3				2
PFOA Matters: Drinking Water Actions [Member]
Loss Contingencies [Line Items]
Accrual balance								$ 25,000,000			25,000,000
Binding settlement agreement, class size \| Resident										80,000
Number of water districts Company must provide treatment \| Water_district								6
PFOA Matters: Additional Actions [Member]
Loss Contingencies [Line Items]
Lawsuits alleging personal injury - Filed \| Lawsuit							3,500
Compensatory and Emotional Distress Damages [Member] \| PFOA Second MDL Settlement [Member]
Loss Contingencies [Line Items]
Loss contingency damages awarded value					$ 40,000,000
Consortium Damages [Member] \| PFOA Second MDL Settlement [Member]
Loss Contingencies [Line Items]
Loss contingency damages awarded value					$ 10,000,000
EID [Member]
Loss Contingencies [Line Items]
Lawsuits alleging illness \| Lawsuit								40
EID [Member] \| Funding for medical monitoring program [Member]
Loss Contingencies [Line Items]
Littigation settlement funded amount								$ 235,000,000
EID [Member] \| Business Seeking to Recover Losses [Member]
Loss Contingencies [Line Items]
Lawsuits alleging illness \| Lawsuit								2
PFAS Contamination, Including PFOA and PFOS [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed \| Lawsuit								10
PFAS and Other Chemicals Exposure [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed \| Lawsuit								7
Compensatory and Punitive Damages [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed \| Lawsuit								2
Allegations of Personal Injury [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed \| Lawsuit								10
Injunctive Relief and Compensatory and Punitive Damages [Member]
Loss Contingencies [Line Items]
Number of southern California public water systems filed lawsuit \| Lawsuit								11
PFAS Matters [Member]
Loss Contingencies [Line Items]
Settlement paid						$ 13,000,000
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
New Jersey Department of Environmental Protection Directives and Litigation [Member]
Loss Contingencies [Line Items]
Demanding amount to cover the cost of preparation of natural resource damage assessment plan and access to related documents		$ 943,000,000
Chemours [Member]
Loss Contingencies [Line Items]
Expenditures subject to cost-sharing as qualified spend								$ 35,000,000	$ 25,000,000
Chemours [Member] \| PFOA Second MDL Settlement [Member]
Loss Contingencies [Line Items]
Total settlement amount								29,000,000
DuPont \| PFOA Second MDL Settlement [Member]
Loss Contingencies [Line Items]
Total settlement amount								27,000,000
Corteva \| PFOA Second MDL Settlement [Member]
Loss Contingencies [Line Items]
Total settlement amount								27,000,000
Chemours, DuPont, Corteva, EID [Member] \| PFAS Natural Resource Damages Matters [Member] \| State of Delaware [Member]
Loss Contingencies [Line Items]
Settlement paid		50,000,000
Maximum [Member]
Loss Contingencies [Line Items]
Loss contingency, reserve for potential loss								$ 740,000,000
Maximum [Member] \| PFOA Matters [Member]
Loss Contingencies [Line Items]
Period of payments								5 years
Maximum [Member] \| Chemours, DuPont, Corteva, EID [Member] \| PFAS Natural Resource Damages Matters [Member] \| One or More Supplemental Payment Directly to Trust [Member] \| Another State [Member]
Loss Contingencies [Line Items]
Settlement payments	$ 25,000,000
Minimum [Member] \| Chemours, DuPont, Corteva, EID [Member] \| PFAS Natural Resource Damages Matters [Member] \| Another State [Member]
Loss Contingencies [Line Items]
Settlement payments	$ 50,000,000
Memorandum of Understanding [Member]
Loss Contingencies [Line Items]
Aggregate amount of qualified spend				4,000,000,000
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
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]
Loss Contingencies [Line Items]
Loss contingency, reserve for potential loss								$ 20,000,000			$ 20,000,000
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]
Loss Contingencies [Line Items]
Settlement paid		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] \| PFAS Natural Resource Damages Matters [Member]
Loss Contingencies [Line Items]
Settlement paid		$ 25,000,000
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

Property, Plant, and Equipment, Net - Summary of Property, Plant, and Equipment, Net (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property, plant, and equipment	$ 9,499	$ 9,387
Less: Accumulated depreciation	(6,319)	(6,216)
Property, plant, and equipment, net	3,180	3,171
Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	7,862	7,745
Building [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	1,216	1,180
Construction-in-progress [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	281	324
Land [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	104	102
Mineral rights [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	$ 36	$ 36

Debt - Schedule of Debt Principal Maturities (Details) - Senior Debt [Member] $ in Millions	Mar. 31, 2023 USD ($)
Debt Instrument [Line Items]
Remainder of 2023	$ 9
2024	13
2025	1,102
2026	477
2027	495
Thereafter	1,403
Total principal maturities on debt	$ 3,499

Investments in Affiliates - Narrative (Details) - Equity Method Investees [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments in Affiliates
Net sales	$ 46	$ 44
Purchases	63	50
Dividends	$ 3	$ 2

Earnings Per Share of Common Stock

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share of Common Stock

Note 6. 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 months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023		2022
Numerator:
Net income attributable to Chemours	$	145	$	234
Denominator:
Weighted-average number of common shares outstanding - basic		148,997,084		159,897,673
Dilutive effect of the Company’s employee compensation plans		2,182,181		3,681,907
Weighted-average number of common shares outstanding - diluted		151,179,265		163,579,580

Basic earnings per share of common stock (1)	$	0.97	$	1.46
Diluted earnings per share of common stock (1)		0.96		1.43

(1)

Figures may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.

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 months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023		2022
Average number of stock options		1,143,489		1,478,383

Net Sales

3 Months Ended

Mar. 31, 2023

Revenue From Contract With Customer [Abstract]

Net Sales

Note 3. Net Sales

Disaggregation of Net Sales

The following table sets forth a disaggregation of the Company’s net sales by geographic region and segment for the three months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023		2022
Net sales by geographic region (1)
North America:
Titanium Technologies	$	262	$	314
Thermal & Specialized Solutions		284		260
Advanced Performance Materials		152		145
Other Segment		22		14
Total North America		720		733
Asia Pacific:
Titanium Technologies		147		280
Thermal & Specialized Solutions		53		35
Advanced Performance Materials		146		153
Other Segment		2		6
Total Asia Pacific		348		474
Europe, the Middle East, and Africa:
Titanium Technologies		133		211
Thermal & Specialized Solutions		100		80
Advanced Performance Materials		76		73
Other Segment		5		4
Total Europe, the Middle East, and Africa		314		368
Latin America (2):
Titanium Technologies		90		123
Thermal & Specialized Solutions		49		50
Advanced Performance Materials		14		14
Other Segment		1		2
Total Latin America		154		189
Total net sales	$	1,536	$	1,764

(1)

Net sales are attributed to countries based on customer location.

(2)

Latin America includes Mexico.

The following table sets forth a disaggregation of the Company’s net sales by product group and segment for the three months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023		2022
Net sales by product group and segment
Titanium dioxide and other minerals	$	632	$	928
Total Titanium Technologies		632		928
Refrigerants		385		344
Foam, propellants, and other		101		81
Total Thermal & Specialized Solutions		486		425
Advanced materials		244		265
Performance solutions		144		120
Total Advanced Performance Materials		388		385
Performance chemicals and intermediates		30		26
Total Other Segment		30		26
Total net sales	$	1,536	$	1,764

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 March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Contract assets:
Accounts receivable - trade, net (Note 7)	$	722	$	509
Contract liabilities:
Deferred revenue	$	6	$	5
Customer rebates (Note 13)		49		90

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 months ended March 31, 2023 and 2022 were not significant. For the three months ended March 31, 2023 and 2022, the amount of net sales recognized from performance obligations satisfied in prior periods (e.g., due to changes in transaction price) were not significant.

There were no material contract asset balances or capitalized costs associated with obtaining or fulfilling customer contracts as of March 31, 2023 and December 31, 2022.

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 March 31, 2023, Chemours had $310 of remaining performance obligations. The Company expects to recognize approximately 24% of its remaining performance obligations as revenue in 2023, approximately 23% as revenue in 2024, and approximately 17% as revenue for each of the years 2025 to 2027. 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 March 31, 2023 are also excluded.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Supplemental Cash Flow Elements [Abstract]

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 24, 2023
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	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		149,155,850
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

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Environmental Remediation Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Current environmental remediation	$ 171	$ 194
Long-term environmental remediation	477	474
Total environmental remediation	$ 648	$ 668

Accounts Payable - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Payables And Accruals [Abstract]
Outstanding payment obligations	$ 258	$ 158

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%

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 1,536	$ 1,764
Adjusted EBITDA	349	468
Depreciation and amortization	79	74
Total Assets	7,624		$ 7,640
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	1,536	1,764
Adjusted EBITDA	349	468
Depreciation and amortization	73	69
Total Assets	5,787		5,488
Operating Segments [Member] \| Titanium Technologies [Member]
Segment Reporting Information [Line Items]
Net sales	632	928
Adjusted EBITDA	70	206
Depreciation and amortization	34	32
Total Assets	2,522		2,384
Operating Segments [Member] \| Thermal & Specialized Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	486	425
Adjusted EBITDA	185	174
Depreciation and amortization	16	14
Total Assets	1,346		1,238
Operating Segments [Member] \| Advanced Performance Materials [Member]
Segment Reporting Information [Line Items]
Net sales	388	385
Adjusted EBITDA	84	88
Depreciation and amortization	21	21
Total Assets	1,791		1,742
Operating Segments [Member] \| Other Segment [Member]
Segment Reporting Information [Line Items]
Net sales	30	26
Adjusted EBITDA	10
Depreciation and amortization	2	$ 2
Total Assets	$ 128		$ 124

Supplemental Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2023

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

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.


	March 31, 2023		December 31, 2022
Cash and cash equivalents	$	816	$	1,102
Restricted cash and restricted cash equivalents (1)		205		202
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	1,021	$	1,304

(1)

Restricted cash and restricted cash equivalents balance includes cash and cash equivalents deposited in an escrow account as per the terms of the MOU (see “Note 16 – Commitments and Contingent Liabilities”).

Recent Accounting Pronouncements - Narrative (Details)	Mar. 31, 2023
ASU 2022-04
Summary Of Significant Accounting Policies [Line Items]
Change In Accounting Principle Accounting Standards Update Adopted	true

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

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Supplemental Cash Flow Elements [Abstract]

Accounts Payable - Schedule of Accounts Payable (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Payables And Accruals [Abstract]
Trade payables	$ 1,142	$ 1,228
VAT and other payables	24	23
Total accounts payable	$ 1,166	$ 1,251

Interim Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 145	$ 234
Hedging activities:
Unrealized (loss) gain on net investment hedge, pre-tax	(14)	26
Unrealized (loss) gain on net investment hedge, tax	3	(6)
Unrealized (loss) gain on net investment hedge, after-tax	(11)	20
Unrealized (loss) gain on cash flow hedge, pre-tax	(1)	10
Unrealized (loss) gain on cash flow hedge, tax		(2)
Unrealized (loss) gain on cash flow hedge, after-tax	(1)	8
Reclassifications to net income - cash flow hedge, pre-tax	(10)	(2)
Reclassifications to net income - cash flow hedge, tax	1
Reclassifications to net income - cash flow hedge, after-tax	(9)	(2)
Hedging activities, net, pre-tax	(25)	34
Hedging activities, net, tax	4	(8)
Hedging activities, net, after-tax	(21)	26
Cumulative translation adjustment, pre-tax	58	(5)
Cumulative translation adjustment, after-tax	58	(5)
Defined benefit plans:
Effect of foreign exchange rates, pre-tax	(1)	3
Effect of foreign exchange rates, after-tax	(1)	3
Amortization of actuarial loss, pre-tax	2	2
Amortization of actuarial loss, tax		(1)
Amortization of actuarial loss, after-tax	2	1
Amortization of prior service gain, pre- tax	(1)
Amortization of prior service gain, after-tax	(1)
Defined benefit plans, net, pre-tax		5
Defined benefit plans, net, tax		(1)
Defined benefit plans, net, after-tax		4
Other comprehensive income, after-tax	37	25
Comprehensive income, after-tax	182	259
Comprehensive income attributable to Chemours, after-tax	$ 182	$ 259

Inventories - Narrative (Details) - US [Member] - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
LIFO inventory amount	$ 881	$ 835
Percentage of LIFO inventory	47.00%	47.00%

Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2023

Supplemental Cash Flow Information

Note 22. Supplemental Cash Flow Information


	March 31, 2023		December 31, 2022
Cash and cash equivalents	$	816	$	1,102
Restricted cash and restricted cash equivalents (1)		205		202
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	1,021	$	1,304

(1)

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Accrued Litigation and Balance Sheet Locations (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Accrued Litigation:
Current accrued litigation	$ 35	$ 41
Long-term accrued litigation	54	55
Total accrued litigation	89	96
Other Accrued Liabilities [Member]
Accrued Litigation:
Current accrued litigation	35	41
Other Liabilities [Member]
Accrued Litigation:
Long-term accrued litigation	$ 54	$ 55

Debt - Components of Debt (Parenthetical) (Details) € in Millions, $ in Millions	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 333	$ 360	€ 333	$ 355
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 441	$ 477	€ 441	$ 470
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		$ 495		$ 495
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		$ 783		$ 783
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		$ 620		$ 620
Debt instrument interest rate	4.625%	4.625%	4.625%	4.625%

Commitments and Contingent Liabilities

3 Months Ended

Mar. 31, 2023

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Note 16. Commitments and Contingent Liabilities

Litigation Overview

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 its separation on July 1, 2015 (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. Except as noted below, while management believes it is reasonably possible that Chemours could incur losses in excess of the amounts accrued, if any, for the aforementioned proceedings, it does not believe any such loss would have a material impact on the Company’s consolidated financial position, results of operations, or cash flows. It is not possible to predict the outcomes of these various lawsuits, claims, assessments, or proceedings. 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.

If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. When a material loss contingency is reasonably possible, but not probable, the Company does not record a liability, but instead discloses the nature of the matter and an estimate of the loss or range of loss, to the extent such estimate can be made. Significant judgment is required in both the determination of probability and whether an exposure is reasonably estimable. The Company’s judgments are subjective based on the status of the legal or regulatory proceedings, the merits of the Company’s defenses and consultation with in-house and outside legal counsel. Because of uncertainties related to these matters, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation and may revise its estimates accordingly. Due to the inherent uncertainties of the legal and regulatory process in the multiple jurisdictions in which Chemours operates, management’s judgments may be materially different than the actual outcomes. Legal costs such as outside counsel fees and expenses are charged to expense in the period services are rendered.

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 March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Asbestos	$	35	$	35
PFOA (1)		45		45
All other matters		9		16
Total accrued litigation	$	89	$	96

(1)

At March 31, 2023 and December 31, 2022, PFOA includes $20 associated with the Company's portion of the potential loss in the single matter not included in the Leach settlement. For information regarding this matter, refer to "PFOA" 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 March 31, 2023 and December 31, 2022.


	Balance Sheet Location	March 31, 2023		December 31, 2022
Accrued Litigation:
Current accrued litigation	Other accrued liabilities (Note 13)	$	35	$	41
Long-term accrued litigation	Other liabilities (Note 15)		54		55
Total accrued litigation		$	89	$	96

Memorandum of Understanding (the “MOU”) with DuPont, Corteva and EID

In January 2021, Chemours, DuPont, Corteva, and EID, a subsidiary of Corteva, entered into a binding 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. The Company incurred expenditures subject to cost-sharing as Qualified Spend under the MOU of approximately $35 and $25 during the three months ended March 31, 2023 and 2022, respectively.

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.

The parties have also agreed to establish an escrow account to support and manage the payments for potential future PFAS liabilities. 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. 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 the escrow account in September 2022 and in 2021, which is recognized as restricted cash and restricted cash equivalents on its consolidated balance sheets at March 31, 2023 and December 31, 2022. 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.

Asbestos

In the Separation, EID assigned its asbestos docket to Chemours. At March 31, 2023 and December 31, 2022, there were approximately 900 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 March 31, 2023 and December 31, 2022, Chemours had accruals of $35 related to these matters.

Benzene

In the Separation, EID assigned its benzene docket to Chemours. At March 31, 2023 and December 31, 2022, there were 19 and 18 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 polymerization aid nor sold it as a commercial product. Prior to the Separation, the performance chemicals segment of EID made PFOA at its Fayetteville Works site in Fayetteville, North Carolina (“Fayetteville”) and used PFOA as a polymerization 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 March 31, 2023 and December 31, 2022, Chemours maintained an accrual of $25 related to PFOA matters under the Leach Settlement (discussed below), EID’s obligations under agreements with the U.S. Environmental Protection Agency (the “EPA”), and voluntary commitments to the New Jersey Department of Environmental Protection (the “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 applicable levels. The Company will continue to work with EPA, NJ DEP 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 March 31, 2023, approximately $2 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 is included in the $25 accrued at March 31, 2023 and December 31, 2022, respectively.

PFOA Leach Class Personal Injury

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

Concurrently with the First MDL Settlement, EID and Chemours agreed to a limited sharing of potential future PFOA costs (i.e. “Indemnifiable Losses”, as defined in the Separation Agreement between EID and Chemours) for a period of five years. 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 “Memorandum of Understanding (the “MOU”) with Dupont, Corteva and EID” 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.

The single matter not included in the 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. EID appealed the verdict to the United States Court of Appeals for the 6th Circuit and, in December 2022, the 6th Circuit affirmed the verdict in a two-to-one decision, with one judge dissenting on two grounds including the district court’s grant of collateral estoppel. In January 2023, EID petitioned for a rehearing of the appeal by the 6th Circuit en banc, which was denied in February 2023. EID is expected to petition the United States Supreme Court to review the decision. The outcome of such petition is not determinable at this time and has significant uncertainties. Given the current status of this case and the significant uncertainties, the Company had a reserve for potential loss on this matter of $20 at March 31, 2023 and December 31, 2022, representing Chemours’ share of the verdict under the terms of the MOU and in accordance with accounting guidance on obligations resulting from joint and several liability arrangements.

In December 2022, the Judicial Panel on Multi-District Litigation (JPML) declined to close the Ohio MDL. As of March 31, 2023, eleven plaintiffs purporting to be Leach class members have filed personal injury cases and these matters are expected to proceed in the Ohio MDL.

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. The Company is 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. The Company is also unable to develop a reasonable estimate of a possible loss or range of losses, if any.

Fayetteville Works, Fayetteville, North Carolina

For information regarding the Company’s ongoing litigation and environmental remediation matters at Fayetteville, refer to “Fayetteville Works, Fayetteville, North Carolina” under the “Environmental Overview” within this “Note 16 – Commitments and Contingent Liabilities”.

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 4,100 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). In September 2022, a water provider action filed by the City of Stuart, Florida was selected for the first bellwether trial and will be called for jury selection and/or trial on or after June 5, 2023. The court has encouraged all parties to discuss resolution of the water provider category of cases, and on October 26, 2022 appointed a mediator to facilitate discussions among and between the parties. Consistent with the court’s instruction and under the mutual obligations of the MOU, Chemours, Corteva/EID and DuPont, together, are engaged with Plaintiffs’ Counsel on these cases, including through the court-appointed mediator; however, there is no guarantee that the discussions will result in a settlement. Settlement discussions are complex and often involve potential amounts, scope and terms, which can be monetary and non-monetary, that one or more parties may not consider reasonable under the circumstances or indicative of the merits or potential outcome of any court proceeding with respect to the underlying claims. It is reasonably possible that such mediation discussions could result in a loss, which could be material; however, at this time, the Company is unable to predict the duration, scope, or result of the mediation discussions, and because of these uncertainties, the Company is also unable to develop a reasonable estimate of a possible loss or range of losses, if any.

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 New York, four individuals filed a lawsuit against numerous defendants including Chemours. The lawsuit alleges personal injury resulting from exposure to AFFF in Long Island drinking water and violation of New York Uniform Fraudulent Conveyance Act. Plaintiffs seek compensatory and punitive damages and medical monitoring.

In Texas, a lawsuit was filed against numerous defendants including Chemours, DuPont and Corteva. The lawsuit alleges personal injury from occupational exposure to AFFF. Plaintiffs seek compensatory and punitive damages. In the first quarter of 2022, certain defendants including Chemours, DuPont and Corteva were dismissed.

In Illinois, a lawsuit was filed in May 2022 in the state court against numerous defendants, including EID. The lawsuit alleges personal injury from occupational exposure, including from AFFF-related materials/products, and seeks compensatory damages and punitive damages. In February 2023, a separate lawsuit was filed in the state court against numerous defendants, including EID, which also alleges personal injury from occupational exposure, including from AFFF-related materials/products, and seeks compensatory damages and punitive damages. Chemours is not a named defendant in either of these lawsuits.

In Ontario, Canada, three lawsuits were filed by two parties in December 2022, against DuPont de Nemours, Inc. and another defendant, seeking contribution and indemnification, interest, and costs in connection with three underlying actions filed by property owners in Canada, and a related third-party action filed by some defendants in one of the matters. The plaintiffs in the underlying actions allege PFAS contamination of their respective properties from the use of firefighting foam. Chemours is not a named defendant in any of these matters but has agreed to defend pursuant to the MOU. These lawsuits against DuPont were noticed for discontinuance by one of the filing parties.

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, Pennsylvania, Colorado, Florida, Wisconsin, Massachusetts, Illinois, California, Kentucky and Maine, as well as Guam and the Marina Islands, 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 and some include counts for fraudulent transfer.

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, in January 2022, the companies paid a total amount of $50 to the State of Delaware, 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. Chemours contributed $25 to the settlement and the remaining $25 was divided between DuPont and Corteva which shall be treated as Qualified Spend under the MOU. 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.

Other PFAS Matters

In New York courts, EID has been named in approximately 40 lawsuits, 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 against current and former owners and suppliers of a manufacturing facility in Hoosick Falls, New York. Two additional lawsuits have been filed by a business seeking to recover its losses and by nearby property owners and residents in a putative class action. The lawsuit filed by the business was dismissed, but the claims by the individual business owner were allowed to proceed. In September 2022, the Court certified the class action, and EID filed a petition for review of the certification, which was denied in January 2023. The Town of Petersburgh in New York also filed suit in New York state court in August 2022 alleging defendants 3M, EID, and other defendants, are responsible for PFOA contamination of its municipal drinking water supply. The complaint alleges product liability claims, negligence, and trespass. Plaintiff seeks injunctive and declaratory relief as well as compensatory and punitive damages.

Furthermore, 14 Long Island water suppliers have filed lawsuits against several defendants including EID and Chemours alleging PFAS, PFOA, and perfluorooctanesulfonic acid (“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. Claims vary between matters but include claims of personal injury alleging various disease conditions, product liability, negligence, nuisance, trespass and fraudulent transfer. All matters are seeking compensatory and punitive damages and, in certain cases, medical monitoring, declaratory and/or injunctive relief. In January 2022, Chemours filed a third-party claim for indemnity in connection with one of the Long Island water supplier matters.

In New York and New Jersey, lawsuits were filed by Suez Water against several 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, as well as products liability, negligence, nuisance, and trespass. Defendants filed motions to dismiss the complaints in both matters. The motion was denied in the Suez Water New Jersey lawsuit in October 2021. In January 2022, the court granted defendants’ motion to dismiss in the Suez New York lawsuit without prejudice and the plaintiff filed a second amended complaint in February 2022. Following the filing of the second amended complaint in the Suez New York lawsuit, the defendants filed a motion to dismiss. In March 2023, the court granted in part defendants’ motion to dismiss the second amended complaint, dismissing all claims against Chemours with prejudice, and finding a claim for design defect could be maintained against EID.

In New Jersey, lawsuits were filed against several defendants including EID and Chemours. The lawsuits include ten lawsuits alleging that defendants are responsible for PFAS contamination, including PFOA and PFOS, in groundwater and drinking water. In addition, seven lawsuits were filed alleging exposure to PFAS and other chemicals, including two lawsuits by parents on behalf of their adult children claiming pre-natal exposure, resulted in the children’s cognitive delays, neurological, genetic, and autoimmune conditions. Furthermore, 10 additional lawsuits were filed in state court with similar allegations of personal injury, which have been removed to New Jersey federal court. Plaintiffs seek certain damages including punitive damages.

In Georgia and Alabama lawsuits were filed against numerous carpet manufacturers, certain municipal defendants, and suppliers and former suppliers, including EID and Chemours. The lawsuits include a matter filed by the Water Works and Sewer Board of the Town of Centre, Alabama and a matter filed by the City of Rome, Georgia alleging negligence, nuisance, and trespass in the release of PFAS, including PFOA, into a river leading to the town’s water source. Additionally, a putative class action was filed on behalf of customers of the Rome, Georgia water division and the Floyd County, Georgia water department alleging negligence and nuisance and related to the release of perfluorinated compounds, including PFOA, into a river leading to their water sources. The matter filed by the City of Rome is scheduled for trial in June 2023 and the matter filed by the Town of Centre, Alabama is scheduled for trial in November 2023.

In Ohio, a putative class action (“Hardwick”) was filed against several defendants including 3M, EID and Chemours 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 March 2022, the court granted in part and denied in part the plaintiff’s class certification and certified a class covering anyone subject to Ohio laws having minimal levels of PFOA plus at least one other PFAS in their blood. The court requested further briefing on whether the class should be extended to include other states that recognize the claims for relief filed in the action. The defendants, including EID and Chemours, jointly filed a petition to appeal the class certification decision and in September 2022 the petition was granted and appellate review is proceeding. Defendants will continue to defend at the trial court level while this appeal is pending. Management believes that a loss is reasonably possible as to the Hardwick matter, but not estimable at this time given the significant class issues to be resolved and that this matter is entering the discovery phase.

In California, several lawsuits were filed in state court against several defendants, including EID and Chemours. The complaints allege product liability, negligence, nuisance and trespass. Plaintiffs seek declaratory and injunctive relief, including abatement, as well as compensatory and punitive damages. The lawsuits include matters filed by:

•

11 southern California public water systems, the City of Corona, California and the Corona Utility Authority that allege manufacturers of PFOA and PFOS are responsible for contaminating the drinking water supply. The matter involving the 11 southern California public water systems has been transferred to the AFFF MDL. In the matter involving the City of Corona, California and the Corona Utility Authority, in February 2022, the court dismissed the case against EID and Chemours on jurisdictional grounds and the plaintiffs appealed the decision. In February 2023, 3M removed the matter to federal court, and in March 2023, the California appellate court stayed the appeal.

•

Atascadero Mutual Water Company in San Luis Obispo County, California alleging damages to drinking water supply from PFAS releases, including PFOA and PFOS, into the environment. This matter has been transferred to the AFFF MDL.

•

Sacramento Suburban Water District alleging damages from PFAS releases into the environment, including PFOA and PFOS, that impacted water sources the Water District uses to provide water. This matter was transferred to the AFFF MDL.

In Delaware, a putative class action was filed against two electroplating companies, 3M and EID, and two other defendants added in an amended complaint, 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.

In South Carolina, a putative class action was filed in March 2022 in the state court against 3M, EID and the Company alleging PFAS contamination from a former textile plant located in Society Hill, South Carolina which allegedly used PFAS containing textile treatment chemicals supplied by the defendants. The lawsuit alleges negligence, trespass, strict liability and nuisance and seeks monetary damages, including property diminution, and injunctive relief, including water treatment and remediation, as well as punitive damages. The matter has been removed to federal court.

In Alabama, a purported class action was filed in July 2022 in Alabama federal court on behalf of certain drinking water utilities against 3M, EID, Corteva and the Company alleging contamination of drinking water. The complaints allege negligence, public nuisance, private nuisance and trespass. The plaintiffs seek injunctive relief as well as compensatory and punitive damages. In April 2023, Shelby County, Alabama and Talladega County, Alabama, filed suit in Alabama state court against numerous carpet manufacturers located near Dalton Georgia, suppliers, EID, Chemours, and other defendants to be named later. The complaint alleges negligence, nuisance and trespass in the release by the carpet mills of PFAS compounds, including PFOA, into the water sources used by the Counties to provide drinking water. The Counties seek compensatory and punitive damages as well as injunctive relief to remove PFAS from the water supply and prevent alleged ongoing contamination.

In Maine, a previously filed lawsuit in federal court by individuals against various paper mills owners in Maine was amended in October 2022 to add various alleged suppliers to the paper mills as defendants, including EID. The lawsuit alleges PFAS chemicals were used in making paper products at the mills and that discharges, waste disposal and the selling of byproducts from paper mills caused property damages as well as personal injury to the plaintiffs. The lawsuit alleges various claims against the mills; alleges negligence, strict liability and nuisance against the supplier defendants; and seeks monetary damages. In March 2023, plaintiffs dismissed the case against EID and other defendants.

In the Netherlands, Chemours, along with DuPont and Corteva, 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 reviewed the summons and filed a statement of defense during the fourth quarter of 2021, and in September 2022 the court entered an interlocutory judgment denying in part certain aspects of such statement of defense. A hearing on the merits of the municipalities’ claims took place in March 2023. A judgment is expected in September 2023.

New Jersey Department of Environmental Protection Directives and Litigation

In March 2019, 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 NJ DEP and establishing a funding source for such costs by the Directive recipients, and information relating to historic and current use of certain PFAS compounds; and, (ii) a Pompton Lakes Natural Resources Damages (“NRD”) Directive to EID and Chemours demanding $0.1 to cover the cost of preparation of a natural resource damage assessment plan and access to related documents.

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

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

The matters were removed to federal court and consolidated for case management and pretrial purposes. In December 2021, the federal court entered a consolidated order granting, in part, and denying, in part, a motion to dismiss or strike parts of the Second Amended Complaints. In January 2022, NJ DEP filed a motion for a preliminary injunction requiring EID and Chemours to establish a remediation funding source (“RFS”) in the amount of $943 for the Chambers Works site, the majority of which is for non-PFAS remediation items. In March 2023 the four NJDEP lawsuits were referred to mediation by the federal court, with the proceedings in the matters stayed pending the mediation. Chemours believes that the January 2022 motion as directed to it is not supported by applicable law and the RFS sought by NJ DEP is not an appropriate estimate of remedial cost for the Chambers Works site and, subject to the discussions regarding overall remediation costs under “Environmental Overview” within this Note 16 – Commitments and Contingent Liabilities, management believes that a loss is reasonably possible, but not estimable at this time, due to various reasons, including that the motion is in its early stages and there are significant factual issues and legal questions to be resolved.

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 and/or PFAS matters in excess of amounts accrued, but any such losses, which could be material, are not estimable at this time due to various reasons, including, among others, that some matters are in their early stages and that there are significant factual issues to be resolved.

U.S. Smelter and Lead Refinery, Inc.

There are seven lawsuits, including a putative class action, 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. In one of the seven lawsuits, pursuant to a March 2021 court decision, there are no current pending claims against EID or Chemours. In four of the other lawsuits, pursuant to August 2021 and September 2021 court decisions, the court granted defendants’ motion to dismiss, but in September 2022, granted plaintiffs' motions for leave to file amended complaints for certain claims. 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.

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 may 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. The Company, from time to time, may engage third parties to assist in obtaining and/or evaluating relevant data and assumptions when estimating its remediation liabilities. These liabilities 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 Company’s environmental remediation liabilities at March 31, 2023 and December 31, 2022 for the five sites that are deemed the most significant, together with the aggregate liabilities for all other sites.


	March 31, 2023		December 31, 2022
Chambers Works, Deepwater, New Jersey	$	29	$	30
Fayetteville Works, Fayetteville, North Carolina (1)		449		465
Pompton Lakes, New Jersey		41		41
USS Lead, East Chicago, Indiana		17		17
Washington Works, West Virginia		17		17
All other sites		95		98
Total environmental remediation	$	648	$	668

(1)

For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 16 – Commitments and Contingent Liabilities”.

The following table sets forth the current and long-term components of the Company’s environmental remediation liabilities at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Current environmental remediation	$	171	$	194
Long-term environmental remediation		477		474
Total environmental remediation	$	648	$	668

Typically, the time-frame for a site to go through all phases of remediation (investigation and active clean-up) may take about 15 to 20 years, followed by several years of operation, maintenance, and monitoring (“OM&M”) activities. Remediation activities, including OM&M activities, vary substantially in duration and cost from site to site. These activities, and their associated costs, depend on the mix of unique site characteristics, evolving remediation technologies, and diverse regulatory requirements, as well as the presence or absence of other potentially responsible parties. In addition, for claims that Chemours may be required to indemnify EID pursuant to the Separation-related agreements, Chemours, through EID, has limited available information for certain sites or is in the early stages of discussions with regulators. For these sites in particular, there may be considerable variability between the clean-up activities that are currently being undertaken or planned and the ultimate actions that could be required. Therefore, considerable uncertainty exists with respect to environmental remediation costs and, under adverse changes in circumstances, management currently estimates the potential liabilities may range up to approximately $740 above the amount accrued at March 31, 2023. This estimate is not intended to reflect an assessment of Chemours’ maximum potential liability. As noted above, the 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. Management will continue to evaluate as new or additional information becomes available in the determination of its environmental remediation liability.

In October 2021, 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 ("NPDWR") 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 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. EPA has indicated that Chemours will receive orders for certain of such compounds, including seven of the testing orders will be issued for PFAS compounds alleged to be associated with Fayetteville. In June 2022, EPA issued its first TSCA Section 4(a)(2) order under this program to five recipients, including Chemours and EID, and Chemours has met with the agency in July 2022 to discuss the order and responded to it. In January 2023, EPA issued a second TSCA Section 4(a)(2) order to four recipients, including Chemours and EID. The recipients of each test order formed a consortia to jointly conduct testing and share costs to execute testing as determined with EPA. The timing of the remaining TSCA orders is not determinable at this time.

Also in October 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. On March 18, 2022, Chemours filed a petition to EPA requesting to withdraw and correct its toxicity assessment for GenX compounds, which was denied by EPA on June 14, 2022. The next day, on June 15, 2022, EPA released health advisories for four PFAS, including interim updated lifetime drinking water health advisories for PFOA and PFOS, and final health advisories for GenX compounds, including hexafluoropropylene oxide dimer acid (“HFPO Dimer Acid”), and another PFAS compound (PFBS). On July 13, 2022 the Company filed a Petition for Review of the GenX compounds health advisory. In March 2023, EPA proposed a NPDWR to establish Maximum Contaminant Levels (MCL’s) for six PFAS, with PFOA and PFOS having MCLs as individual compounds (each proposed as 4 parts per trillion ("ppt")) and four other PFAS compounds, including HFPO Dimer Acid, having a hazard index approach limit on any mixture containing one or more of the compounds. The proposed PFAS NPDWR is subject to public comment until May 30, 2023. EPA anticipates finalizing the regulation by the end of 2023 and no action is required on the proposed NPDWR until it is final.

The environmental remediation liabilities and accrued litigation, as applicable, recorded for Fayetteville, Washington Works, Parkersburg, West Virginia and Chambers Works, Deepwater, New Jersey as of March 31, 2023 are based upon the existing Consent Orders, agreements and/or voluntary commitments with EPA, state and other local regulators and depending on the ultimate outcome of EPA’s actions, could require adjustment to meet any new drinking water standards. 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 at this time, due in part to the uncertainties on EPA’s final rule making after the MCL comment period, regulatory implementation site by site, where applicable, the current condition and the additional sampling required to determine the level of contamination at the site, possible method(s) of remediation that may be required, and determination of other potential responsible parties. Refer to “Fayetteville Works, Fayetteville, North Carolina” below for further detail on the impact of EPA’s final drinking water health advisory for GenX compounds, including HFPO Dimer Acid.

Chemours environmental remediation expenses were $14 and $28 for the three months ended March 31, 2023 and 2022, respectively, of which $9 and $19 for the three months ended March 31, 2023 and 2022, respectively, relate to Fayetteville (discussed further below).

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. 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.

While the Company believes that discharges from Fayetteville to the Cape Fear River, on-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 EPA.

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

In February 2019, the North Carolina Superior Court for Bladen County approved a Consent Order (“CO”) between NC DEQ, Cape Fear River Watch ("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”) 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 in October 2020, the Addendum was approved by the North Carolina Superior Court for Bladen County. 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 March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
On-site remediation	$	254	$	264
Off-site groundwater remediation		195		201
Total Fayetteville environmental remediation	$	449	$	465

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 March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Current environmental remediation	$	121	$	139
Long-term environmental remediation		328		326
Total Fayetteville environmental remediation	$	449	$	465

Chemours environmental remediation expenses related to Fayetteville were $9 and $19 for the three months ended March 31, 2023 and 2022, respectively.

Emissions to air

Fayetteville operates multiple permitted air discharge stacks, blowers, and vents as part of its manufacturing activities. A 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 testing results showed that the TO is controlling PFAS emissions at an average efficiency exceeding 99.999%. Testing was conducted by Chemours and monitored by the North Carolina Division of Air Quality (“NC DAQ”). The cost related to the installation of the TO were capitalized in accordance with the Company’s policy.

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 for GenX above the state provisional health goal of 140 ppt, or any applicable health advisory, whichever is lower, 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 qualifying 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. 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.

Further, in addition to the surrounding counties, in November 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 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. In response, in February 2022, the Company submitted an interim drinking water plan and a separate assessment framework plan, which were subsequently updated and resubmitted in August 2022, based on comments received from NC DEQ. On January 30, 2023, NC DEQ provided additional comments to the August 2022 submittal identifying additional actions regarding the groundwater assessment as well as the drinking water program, which the Company responded to on March 16, 2023.

In June 2022, following EPA’s release of a final drinking water health advisory for GenX compounds, including HFPO Dimer Acid, by EPA, NC DEQ sent a notice to Chemours requiring the Company to revise its drinking water compliance plan and feasibility study report, and to provide public water or whole building filtration systems to eligible properties with a private drinking water well that have tested above 10 ppt for GenX compounds under Paragraph 19 of the CO.

In July 2022, Chemours submitted its response to NC DEQ, providing information and other items requested by NC DEQ for its approval. Notwithstanding the Petition for Review of the EPA GenX compounds health advisory, and reserving its rights related thereto, the Company proposed a plan to extend Paragraph 19 options to properties that have tested above 10 ppt for GenX compounds, including conducting a feasibility review. As a result of Chemours’ proposed plan in response to the NC DEQ notice, the Company recorded approximately $108 in selling, general, and administrative expense, reflecting a change in estimate for the estimated qualifying properties previously qualified for under-sink RO units that may now be eligible for public water or a whole building filtration system resulting from the lower health advisory for GenX of 10ppt.

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, including comments received from NC DEQ, 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., public water, 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.

At March 31, 2023 and December 31, 2022, the Company had $161 and $163 of accrued liabilities, respectively, for off-site groundwater testing and water treatment system installations at qualifying third-party properties primarily in Bladen and Cumberland counties surrounding Fayetteville, which is expected to be disbursed over approximately 20 years. In addition, as of March 31, 2023 and December 31, 2022, the Company had $34 and $38, respectively, of accrued liabilities for the assessment and for sampling related to potential PFAS contamination of groundwater and supply of alternative drinking water in New Hanover and three other downstream counties. Off-site installation, maintenance, and monitoring cost estimates are based on management’s assessment of the current facts and circumstances for these matters, including comments received from NC DEQ, and could change as actual experience may differ from management's estimates or new information may become available.

The estimated liability was based on certain assumptions, which management believes are reasonable under the circumstances and include, but are not limited to, implementation of the soil and groundwater assessment, the source and cause of PFAS contamination for the four downstream counties, the estimated number of properties at which sampling is conducted and whether such property will qualify for an alternative drinking water supply, other potentially responsible parties and the method of long-term alternative water supply, if any. Further, management’s estimate of the ultimate liability for this matter is dependent upon NC DEQ approval of the proposed plans in response to various NC DEQ letters, obtaining additional information, implementation of EPA’s health advisories, additional feasibility and investigation work that has not yet been scoped or performed, and the estimated additional future cost of OM&M. The ultimate resolution of the matters could have a material adverse effect on the Company’s financial position, results of operations and cash flow.

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 contamination from historical operations.

In 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 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 in October 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, or the extended date consistent with the CO and Addendum, as noted by the NC DEQ in its letter dated March 2, 2023.

The Company began operation of a capture and treatment system from the site’s old outfall channel following the issuance of a National Pollutant Discharge Elimination System ("NPDES") permit by NC DEQ in September 2020. In January 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. 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. System enhancements completed or being implemented consist of a holding pond, installation of new ultra-filtration units and additional water pretreatment equipment which is anticipated to be completed in the second half of 2023.

In 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 the Company’s major construction projects are typically reviewed at 30%, 60% and 90% complete. Chemours submitted the design reports for the 90% stage in March 2022 and received final approval of the 90% design from NC DEQ in October 2022.

Additionally, on September 15, 2022, NC DEQ issued a permit for discharge of treated groundwater and surface water associated with the project which contained conditions and limits that exceeded the requirements contained within the CO and the previously public-noticed draft discharge permit. The Company filed an administrative petition contesting the discharge permit on October 14, 2022.

On November 14, 2022 the Company reached an agreement with NC DEQ and the Cape Fear Public Utility Authority with respect to the discharge permit that, inter alia, facilitated the construction of the barrier wall and groundwater extraction and treatment system and recognizes an optimization period after commencement of discharge from the system. Chemours has since dismissed its petition without prejudice pursuant to the agreement.

Based on the CO, the Addendum, the CAP, and management’s plans, which are based on current regulations and technology, the Company has accrued $254 and $264 at March 31, 2023 and December 31, 2022, respectively, related to the estimated cost of on-site remediation, based on the range of potential outcomes on current potential remedial options, and the projected amounts to be paid over a period of approximately 20 years. The final costs of any selected remediation will depend primarily on potential schedule and scope changes as the construction progresses, actual labor and material costs that could be impacted by supply chain constraints and inflation, and estimated future cost and time period of OM&M. Further, the final cost of the on-site groundwater treatment system depends on timely finalization of remaining design details, notably water treatment requirements and estimated carbon usage and achieving the successful optimization of the system during the period stated in the permit. As such, cost estimates could change as actual experience may differ from management's estimates.

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 the agreed extended date, the Addendum specifies penalties of $0.15 plus an additional $0.02 per week until installation is completed. A prolonged delay in the construction could result in additional costs including the availability of critical construction resources and costs of materials, among others. Payment of financial penalties, if or when completion extends beyond the extended date, is deemed remote at this time.

The Company’s estimated liability for the remediation activities that are probable and estimable is based on the CO, the Addendum, the CAP, and management’s assessment of the current facts and circumstances, which is subject to various assumptions including the transport pathways (being pathways by which PFAS reaches the Cape Fear River) that 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.

Consistent with prior periods, the Company accrued 20 years of OM&M for Fayetteville environmental remediation systems based on the CO and Addendum, which includes 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.

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.

Litigation and Other matters related to Fayetteville

In February 2019, the Company received an NOV from 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 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 March 31, 2023, management does not believe that a loss is probable.

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. In November 2021, the Company appealed the civil penalty assessments in North Carolina’s Office of Administrative Hearings. In April 2022, the Company and NC DEQ entered into a settlement agreement pursuant to which the Company agreed to pay the civil penalty assessed by the agency and to take additional steps toward reducing air emissions. The administrative appeal has been dismissed.

Civil actions have been filed against EID and Chemours in North Carolina courts 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 1,900 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. In March 2023, one of the public water suppliers brought a complaint in Delaware Chancery Court against EID, Chemours, Corteva and DuPont alleging voidable transfer and other claims arising from the Chemours separation and DowDuPont merger and subsequent restructurings, asset transfers and separations.

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.

In March 2022, a lawsuit was filed on behalf of an individual residing near the Fayetteville site against Chemours, EID and other defendants alleging negligence, nuisance and other claims related to the discharges from the Fayetteville site. The individual seeks compensatory property damages, punitive damages and medical monitoring. The lawsuit also alleges fraudulent transfer against EID and other EID entities, but not against Chemours.

In March 2022, Cumberland County, North Carolina filed suit in state court against Chemours, EID and other defendants related to discharges from the Fayetteville site alleging negligence, nuisance, trespass and fraudulent transfer. The lawsuit seeks damages as well as injunctive and equitable relief.

In December 2022, Aqua North Carolina, Inc. filed suit in North Carolina state court alleging EID, DuPont, DowDuPont, Inc and the Company are responsible for polyfluorinated chemical contamination of the Cape Fear River, groundwater and other water sources used by Aqua North Carolina across the state to serve its water customers. The complaint alleges product liability, negligence, trespass, deceptive trade practices, unjust enrichment and fraudulent transfer. Plaintiff seeks equitable relief as well as compensatory and punitive damages. In February 2023, the matter was removed to federal court.

It is possible that additional litigation may be filed against the Company and/or EID concerning the Fayetteville Work discharges. It is not possible at this point to predict the timing, course, or outcome of all governmental and regulatory inquiries and notices and litigation related to Fayetteville, 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.

Other

In addition, in the ordinary course of business, the Company may make certain commitments, including representations, warranties, and indemnities relating to current and past operations, including environmental remediation and other potential costs related to divested assets and businesses, and issue guarantees of third-party obligations. The Company accrues for these matters when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. In connection with the sale of the Mining Solutions business, the Company provided a limited indemnification with respect to environmental liabilities that may arise from activities prior to the closing date. Such indemnification would not exceed approximately $78 and will expire on December 1, 2026. No liabilities have been recorded at March 31, 2023 and December 31, 2022 with respect to this indemnification.

Commitments and Contingent Liabilities - Schedule of Components of Accrued Litigation (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Accrued litigation	$ 89	$ 96
PFOA Multi District Litigation in Ohio [Member]
Loss Contingencies [Line Items]
Accrued litigation	$ 20

Inventories (Tables)

3 Months Ended

Mar. 31, 2023

Inventory Net [Abstract]

Schedule of Inventories

The following table sets forth the components of the Company’s inventories at March 31, 2023 and December 31, 2022.


	March 31, 2023			December 31, 2022
Finished products	$	956		$	910
Semi-finished products		222			218
Raw materials, stores, and supplies		680			654
Inventories before LIFO adjustment		1,858			1,782
Less: Adjustment of inventories to LIFO basis		(372	)		(378	)
Total inventories	$	1,486		$	1,404

Long-term Employee Benefits (Narrative) (Details) - Defined Benefit Pension Plan [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Employer contributions during period	$ 5	$ 5
Estimated future employer contributions in current fiscal year	$ 6

Schedule of Share Repurchase Activity

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

+ References + Details

Debt - Estimated Fair Values of Senior Debt Issues (Details) € in Millions, $ in Millions	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Less: Unamortized issue discounts		$ (4)		$ (4)
Less: Unamortized debt issuance costs		(21)		(22)
Senior Secured Tranche B-2 U.S Dollar Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		764		766
Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	€ 333	360	€ 333	355
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	€ 441	477	€ 441	470
5.375% Senior Unsecured Notes Due May 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		495		495
5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		783		783
4.625% Senior Unsecured Notes Due November 2029 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		620		620
Level 2 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		3,499		3,489
Long-term debt, Fair Value		3,240		3,192
Total senior debt, Carrying Value		3,499		3,489
Less: Unamortized issue discounts		(4)		(4)
Less: Unamortized debt issuance costs		(21)		(22)
Total senior debt, net		3,474		3,463
Total senior debt, Carrying Value		3,499		3,489
Total senior debt, Fair Value		3,240		3,192
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		764		766
Long-term debt, Fair Value		761		755
Level 2 [Member] \| Senior Secured Tranche B-2 Euro Term Loan Due April 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		360		355
Long-term debt, Fair Value		358		345
Level 2 [Member] \| 4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		477		470
Long-term debt, Fair Value		441		422
Level 2 [Member] \| 5.375% Senior Unsecured Notes Due May 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		495		495
Long-term debt, Fair Value		463		459
Level 2 [Member] \| 5.750% Senior Unsecured Notes Due November 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		783		783
Long-term debt, Fair Value		702		702
Level 2 [Member] \| 4.625% Senior Unsecured Notes Due November 2029 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		620		620
Long-term debt, Fair Value		$ 515		$ 509

Net Sales - Summary of Contract Balances from Contracts with Customers (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Contract assets:
Accounts receivable - trade, net	$ 722	$ 509
Contract liabilities:
Deferred revenue	6	5
Customer rebates	$ 49	$ 90

Background, Description of the Business, and Basis of Presentation - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of reportable segments	3

Equity (Tables)

3 Months Ended

Mar. 31, 2023

Stockholders Equity Note [Abstract]

The following table sets forth the Company’s share repurchase activity under the 2018 Share Repurchase Program for the three months ended March 31, 2023 and 2022, respectively.


	Three Months Ended March 31,
	2023		2022
Total number of shares purchased		—		4,851,966
Total amount for shares purchased	$	—	$	146
Average price paid per share	$	—	$	30.06

The following table sets forth the Company’s share repurchase activity under the 2022 Share Repurchase Program for the three months ended March 31, 2023 and 2022, respectively.


	Three Months Ended March 31,
	2023		2022
Total number of shares purchased		386,000		—
Total amount for shares purchased	$	13	$	—
Average price paid per share	$	33.77	$	—

Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2023

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 accumulated other comprehensive loss for the three months ended March 31, 2023 and 2022.


	Net Investment Hedge			Cash Flow Hedge			Cumulative Translation Adjustment			Defined Benefit Plans			Total
Balance at January 1, 2023	$	19		$	6		$	(268	)	$	(100	)	$	(343	)
Other comprehensive income (loss)		(11	)		(10	)		58			—			37
Balance at March 31, 2023	$	8		$	(4	)	$	(210	)	$	(100	)	$	(306	)

Balance at January 1, 2022	$	(21	)	$	5		$	(236	)	$	(112	)	$	(364	)
Other comprehensive income (loss)		20			6			(5	)		4			25
Balance at March 31, 2022	$	(1	)	$	11		$	(241	)	$	(108	)	$	(339	)

Other Income (Expense), Net

3 Months Ended

Mar. 31, 2023

Other Income And Expenses [Abstract]

Other Income (Expense), Net

Note 5. Other Income (Expense), Net

The following table sets forth the components of the Company’s other income (expense), net for the three months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023			2022
Leasing, contract services, and miscellaneous income	$	6		$	4
Royalty income (1)		2			—
Gain on sales of assets and businesses, net		—			1
Exchange losses, net (2)		(7	)		—
Non-operating pension and other post-retirement employee benefit income (3)		—			1
Total other income, net	$	1		$	6

(1)

Royalty income 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 non-service component of net periodic pension income.

Commitments and Contingent Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Asbestos	$	35	$	35
PFOA (1)		45		45
All other matters		9		16
Total accrued litigation	$	89	$	96

(1)

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 March 31, 2023 and December 31, 2022.


	Balance Sheet Location	March 31, 2023		December 31, 2022
Accrued Litigation:
Current accrued litigation	Other accrued liabilities (Note 13)	$	35	$	41
Long-term accrued litigation	Other liabilities (Note 15)		54		55
Total accrued litigation		$	89	$	96

Schedule of Environmental Remediation Liabilities


	March 31, 2023		December 31, 2022
Chambers Works, Deepwater, New Jersey	$	29	$	30
Fayetteville Works, Fayetteville, North Carolina (1)		449		465
Pompton Lakes, New Jersey		41		41
USS Lead, East Chicago, Indiana		17		17
Washington Works, West Virginia		17		17
All other sites		95		98
Total environmental remediation	$	648	$	668

(1)

For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 16 – Commitments and Contingent Liabilities”.

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 March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Current environmental remediation	$	171	$	194
Long-term environmental remediation		477		474
Total environmental remediation	$	648	$	668

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


	March 31, 2023		December 31, 2022
On-site remediation	$	254	$	264
Off-site groundwater remediation		195		201
Total Fayetteville environmental remediation	$	449	$	465

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


	March 31, 2023		December 31, 2022
Current environmental remediation	$	121	$	139
Long-term environmental remediation		328		326
Total Fayetteville environmental remediation	$	449	$	465

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

Mar. 31, 2023

Dec. 31, 2022

Chambers Works, Deepwater, New Jersey [Member]

$ 648

$ 668

Fayetteville Works, Fayetteville, North Carolina [Member]

Pompton Lakes, New Jersey [Member]

^[1]

449

465

USS Lead, East Chicago, Indiana [Member]

Washington Works, West Virginia [Member]

All other sites [Member]

$ 95

$ 98

[1]	For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 16 – Commitments and Contingent Liabilities”.

Segment Information - Narrative (Details) $ in Millions	3 Months Ended
Segment Information - Narrative (Details) $ in Millions	Mar. 31, 2023 USD ($) Segment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	3
Depreciation and amortization	$ 79	$ 74
Total assets	7,624		$ 7,640
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	6	$ 5
Total assets	$ 1,837		$ 2,152

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.

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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Accounts and Notes Receivable, Net

Accounts and Notes Receivable, Net

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Note 7. Accounts and Notes Receivable, Net

The following table sets forth the components of the Company’s accounts and notes receivable, net at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Accounts receivable - trade, net (1)	$	722	$	509
VAT, GST, and other taxes (2)		88		88
Other receivables (3)		27		29
Total accounts and notes receivable, net	$	837	$	626

(1)

Accounts receivable - trade, net includes trade notes receivable of $2 and $3 and is net of allowances for doubtful accounts of $4 and $10 at March 31, 2023 and December 31, 2022, respectively. Such allowances are equal to the estimated uncollectible amounts.

(2)

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

(3)

Other receivables consist of derivative instruments, advances, other deposits including receivables under the terms of the MOU. For details of the MOU, see “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 and $6 for the three months ended March 31, 2023 and 2022, respectively.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Information

The following table sets forth certain summary financial information for the Company’s reportable segments for the periods presented.


	Titanium Technologies		Thermal & Specialized Solutions		Advanced Performance Materials		Other Segment		Segment Total
Three Months Ended March 31, 2023
Net sales to external customers	$	632	$	486	$	388	$	30	$	1,536
Adjusted EBITDA		70		185		84		10		349
Depreciation and amortization		34		16		21		2		73

Three Months Ended March 31, 2022
Net sales to external customers	$	928	$	425	$	385	$	26	$	1,764
Adjusted EBITDA		206		174		88		—		468
Depreciation and amortization		32		14		21		2		69

Total Assets
March 31, 2023	$	2,522	$	1,346	$	1,791	$	128	$	5,787
December 31, 2022		2,384		1,238		1,742		124		5,488

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

The following table sets forth a reconciliation of Segment Adjusted EBITDA to the Company’s consolidated income (loss) before income taxes for the three months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023			2022
Segment Adjusted EBITDA	$	349		$	468
Corporate and Other expenses (excluding items below)		(45	)		(65	)
Interest expense, net		(42	)		(41	)
Depreciation and amortization		(79	)		(74	)
Non-operating pension and other post-retirement employee benefit income		—			1
Exchanges losses, net		(7	)		—
Restructuring, asset-related, and other charges (1)		(16	)		(16	)
Gain on sales of assets and businesses		—			1
Qualified spend recovery (2)		14			14
Legal and environmental charges (3,4)		(1	)		(8	)
Income before income taxes	$	173		$	280

(1)

(2)

(3)

(4)

Accounts and Notes Receivable, Net (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Accounts receivable - trade, net (1)	$	722	$	509
VAT, GST, and other taxes (2)		88		88
Other receivables (3)		27		29
Total accounts and notes receivable, net	$	837	$	626

(1)

(2)

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

(3)

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Inventory Net [Abstract]
Finished products	$ 956	$ 910
Semi-finished products	222	218
Raw materials, stores, and supplies	680	654
Inventories before LIFO adjustment	1,858	1,782
Less: Adjustment of inventories to LIFO basis	(372)	(378)
Total inventories	$ 1,486	$ 1,404

Long-term Employee Benefits (Schedule of Net Periodic Pension Cost and Amounts Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Total net periodic pension cost	$ (2)	$ (3)
Amortization of actuarial loss	2	2
Amortization of prior service gain	(1)
Effect of foreign exchange rates	(1)	3
Benefit recognized in other comprehensive income		5
Pension Plan [Member] \| Foreign [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	(2)	(4)
Interest cost	(4)	(2)
Expected return on plan assets	5	5
Amortization of actuarial loss	(2)	(2)
Amortization of prior service gain	1
Total net periodic pension cost	(2)	(3)
Amortization of actuarial loss	2	2
Amortization of prior service gain	(1)
Effect of foreign exchange rates	(1)	3
Benefit recognized in other comprehensive income		5
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$ (2)	$ 2

Stock-based Compensation - Schedule of Assumptions of Stock Option (Details)

3 Months Ended

Mar. 31, 2023

$ / shares

Stock Option [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Risk-free interest rate

4.18%

Expected term (years)

6 years

Volatility

55.63%

Dividend yield

2.87%

Fair value per stock option

$ 15.36

Performance Stock Option [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Risk-free interest rate

4.13%

Expected term (years)

7 years

Volatility

56.32%

Dividend yield

2.87%

Fair value per stock option

$ 14.97

^[1]

[1]	Represents the weighted-average fair value at each point of projected exercise under the Monte Carlo valuation method.

Earnings Per Share of Common Stock - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Average number of stock options	1,143,489	1,478,383

Other Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Other Liabilities Disclosure [Abstract]

Schedule of Other Liabilities

The following table sets forth the components of the Company’s other liabilities at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Employee-related costs (1)	$	81	$	82
Accrued litigation (2)		54		55
Asset retirement obligations (3)		74		73
Miscellaneous (4)		111		109
Total other liabilities	$	320	$	319

(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 (see “Note 16 – Commitments and Contingent Liabilities”).

(3)

Represents the long-term portion of asset retirement obligations, which totaled $85 and $83 when combined with the current portion at March 31, 2023 and December 31, 2022, respectively (see “Note 13 – Other Accrued Liabilities”). For the three months ended March 31, 2023, liabilities incurred during the period, reduction in estimated cash outflows, liabilities settled in the current period and accretion expense were not material.

(4)

Miscellaneous primarily includes an accrued workers compensation indemnification liability of $32 and $33 at March 31, 2023 and December 31, 2022, respectively. Miscellaneous also includes long-term income tax liabilities from uncertain tax positions.

Debt - Senior Secured Credit Facilities - Narrative (Details) - USD ($)			3 Months Ended
	Oct. 07, 2021	Apr. 03, 2018	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Senior Secured Tranche B-2 U.S Dollar Term Loan Due April 2025 [Member]
Line of Credit Facility [Line Items]
Debt instrument maturity month and year			2025-04
4.000% Senior Unsecured Notes Due May 2026 [Member]
Line of Credit Facility [Line Items]
Debt instrument maturity month and year			2026-05
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
Senior Secured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt instrument term		5 years
Line of credit facility, maximum borrowing capacity	$ 900,000,000	$ 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.
Debt instrument maturity date	Oct. 07, 2026
Long-term debt			$ 0		$ 0
Letters of credit outstanding			$ 110,000,000		$ 108,000,000
Commitment fee percentage			0.15%
Euro Term Loan [Member]
Line of Credit Facility [Line Items]
Effective interest rates on senior secured term loan			5.00%
Dollar Term Loan [Member]
Line of Credit Facility [Line Items]
Effective interest rates on senior secured term loan			6.70%

Interim Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Income Statement [Abstract]

Net sales

$ 1,536

$ 1,764

Cost of goods sold

1,168

1,278

Gross profit

368

486

Selling, general, and administrative expense

124

141

Research and development expense

Restructuring, asset-related, and other charges

Total other operating expenses

166

182

Equity in earnings of affiliates

Interest expense, net

(42)

(41)

Other income, net

Income before income taxes

173

280

Provision for income taxes

Net income

145

234

Net income attributable to Chemours

$ 145

$ 234

Per share data

Basic earnings per share of common stock

^[1]

$ 0.97

$ 1.46

Diluted earnings per share of common stock

^[1]

$ 0.96

$ 1.43

[1]	Figures may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.

Net Sales (Tables)

3 Months Ended

Mar. 31, 2023

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 for the three months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023		2022
Net sales by geographic region (1)
North America:
Titanium Technologies	$	262	$	314
Thermal & Specialized Solutions		284		260
Advanced Performance Materials		152		145
Other Segment		22		14
Total North America		720		733
Asia Pacific:
Titanium Technologies		147		280
Thermal & Specialized Solutions		53		35
Advanced Performance Materials		146		153
Other Segment		2		6
Total Asia Pacific		348		474
Europe, the Middle East, and Africa:
Titanium Technologies		133		211
Thermal & Specialized Solutions		100		80
Advanced Performance Materials		76		73
Other Segment		5		4
Total Europe, the Middle East, and Africa		314		368
Latin America (2):
Titanium Technologies		90		123
Thermal & Specialized Solutions		49		50
Advanced Performance Materials		14		14
Other Segment		1		2
Total Latin America		154		189
Total net sales	$	1,536	$	1,764

(1)

Net sales are attributed to countries based on customer location.

(2)

Latin America includes Mexico.

The following table sets forth a disaggregation of the Company’s net sales by product group and segment for the three months ended March 31, 2023 and 2022.


	Three Months Ended March 31,
	2023		2022
Net sales by product group and segment
Titanium dioxide and other minerals	$	632	$	928
Total Titanium Technologies		632		928
Refrigerants		385		344
Foam, propellants, and other		101		81
Total Thermal & Specialized Solutions		486		425
Advanced materials		244		265
Performance solutions		144		120
Total Advanced Performance Materials		388		385
Performance chemicals and intermediates		30		26
Total Other Segment		30		26
Total net sales	$	1,536	$	1,764

Summary of Contract Balances from Contracts with Customers

The following table sets forth the Company’s contract balances from contracts with customers at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Contract assets:
Accounts receivable - trade, net (Note 7)	$	722	$	509
Contract liabilities:
Deferred revenue	$	6	$	5
Customer rebates (Note 13)		49		90

Restructuring, Asset-Related, and Other Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		15 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023
Restructuring Cost And Reserve [Line Items]
Severance costs	$ 1	$ 5
2022 Restructuring Program [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Charges		$ 5	$ 9
2022 Restructuring Program [Member] \| Titanium Technologies [Member]
Restructuring Cost And Reserve [Line Items]
Severance costs			1
2022 Restructuring Program [Member] \| Thermal & Specialized Solutions [Member]
Restructuring Cost And Reserve [Line Items]
Severance costs			1
2022 Restructuring Program [Member] \| Advanced Performance Materials [Member]
Restructuring Cost And Reserve [Line Items]
Severance costs			3
ERP Implementation Abandonment [Member]
Restructuring Cost And Reserve [Line Items]
Write-Off of Deferred Software Development Costs	11
Contract Termination Charges	4
Severance costs	$ 1
Corporate and Other [Member] \| 2022 Restructuring Program [Member]
Restructuring Cost And Reserve [Line Items]
Severance costs			$ 4

Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Debt

Note 14. Debt

The following table sets forth the components of the Company’s debt at March 31, 2023 and December 31, 2022.


	March 31, 2023			December 31, 2022
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	764		$	766
Tranche B-2 euro term loan due April 2025 (€333 at March 31, 2023 and December 31, 2022)		360			355
Senior unsecured notes:
4.000% due May 2026 (€441 at March 31, 2023 and December 31, 2022)		477			470
5.375% due May 2027		495			495
5.750% due November 2028		783			783
4.625% due November 2029		620			620
Finance lease liabilities		59			61
Financing obligation (1)		91			91
Total debt principal		3,649			3,641
Less: Unamortized issue discounts		(4	)		(4	)
Less: Unamortized debt issuance costs		(21	)		(22	)
Less: Short-term and current maturities of long-term debt		(25	)		(25	)
Total long-term debt, net	$	3,599		$	3,590

(1)

Senior Secured Credit Facilities

The Company’s credit agreement, as amended and restated on April 3, 2018 (“Credit Agreement”), provides for a seven-year, senior secured term loan facility and a five-year, $800 senior secured revolving credit facility (“Revolving Credit Facility”) (collectively, the “Senior Secured Credit Facilities”). 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). On March 10, 2023, the Company entered into a second amendment to the Credit Agreement (the "Second Credit Agreement Amendment") to replace the interest rate benchmark from LIBOR to the Secured Overnight Financing Rate ("SOFR"). 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 March 31, 2023 and December 31, 2022. The Company made term loan repayments of $3 each for the three months ended March 31, 2023 and 2022. Chemours also had $110 and $108 in letters of credit issued and outstanding under the Revolving Credit Facility at March 31, 2023 and December 31, 2022, respectively. At March 31, 2023, the effective interest rates on the Dollar Term Loan and the Euro Term Loan were 6.7% and 5.0%, respectively. Also, at March 31, 2023, commitment fees on the Revolving Credit Facility were assessed at a rate of 0.15% per annum.

Accounts Receivable Securitization Facility

The Company, through a wholly-owned special purpose entity (“SPE”), maintains an amended and restated receivables purchase agreement dated March 9, 2020, which was amended on March 5, 2021 and further amended on November 24, 2021 (the “Amended Purchase Agreement”). Pursuant to the Amended Purchase Agreement, the Company does not maintain effective control over the transferred receivables, and therefore accounts for these transfers as sales of receivables.

On March 23, 2023, the Company, through the SPE, entered into an amendment (the "Third Amendment") to its Amended Purchase Agreement to, among other things, increase the facility limit under the arrangement from $150 to $175, replace the interest rate benchmark from LIBOR to SOFR, add a conduit purchaser, and extend the term of the Amended Purchase Agreement, such that the SPE may sell certain receivables and request investments and letter of credit until the earlier of March 31, 2025 or another event that constitutes a "Termination Date" under the Amended Purchase Agreement.

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 months ended March 31, 2023 and 2022, the Company received $294 and $338, respectively, of cash collections on receivables sold under the Amended Purchase Agreement, following which it sold and derecognized $319 and $338, 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 $162 and $46 at March 31, 2023 and December 31, 2022, respectively. The Company incurred $1 of fees associated with the Securitization Facility during the three months ended March 31, 2023 and 2022. 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 the Senior Secured Credit Facilities equivalent to 1.00% per annum through December 2024, with the balance due at maturity. Also, 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 2023.

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


Remainder of 2023	$	9
2024		13
2025		1,102
2026		477
2027		495
Thereafter		1,403
Total principal maturities on debt	$	3,499

Debt Fair Value


	March 31, 2023					December 31, 2022
	Carrying Value			Fair Value		Carrying Value			Fair Value
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	764		$	761	$	766		$	755
Tranche B-2 euro term loan due April 2025 (€333 at March 31, 2023 and December 31, 2022)		360			358		355			345
Senior unsecured notes:
4.000% due May 2026 (€441 at March 31, 2023 and December 31, 2022)		477			441		470			422
5.375% due May 2027		495			463		495			459
5.750% due November 2028		783			702		783			702
4.625% due November 2029		620			515		620			509
Total senior debt principal		3,499		$	3,240		3,489		$	3,192
Less: Unamortized issue discounts		(4	)				(4	)
Less: Unamortized debt issuance costs		(21	)				(22	)
Total senior debt, net	$	3,474				$	3,463

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.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Other Liabilities Disclosure [Abstract]

Restructuring, Asset-Related, and Other Charges - Schedule of Restructuring Program (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restructuring And Related Activities [Abstract]
Employee separation charges	$ 1	$ 5
Decommissioning and other charges	4	1
Total restructuring and other charges	5	6
Asset-related charges	11	5
Total restructuring, asset-related, and other charges	$ 16	$ 11

Other Liabilities

3 Months Ended

Mar. 31, 2023

Other Liabilities

Note 15. Other Liabilities

The following table sets forth the components of the Company’s other liabilities at March 31, 2023 and December 31, 2022.


	March 31, 2023		December 31, 2022
Employee-related costs (1)	$	81	$	82
Accrued litigation (2)		54		55
Asset retirement obligations (3)		74		73
Miscellaneous (4)		111		109
Total other liabilities	$	320	$	319

(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 (see “Note 16 – Commitments and Contingent Liabilities”).

(3)

(4)

Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Assumptions of Stock Options

The following table sets forth the assumptions used at the grant date to determine the fair value of the Company’s stock option awards granted during the three months ended March 31, 2023.


	Three Months Ended March 31, 2023
Risk-free interest rate		4.18	%
Expected term (years)		6.00
Volatility		55.63	%
Dividend yield		2.87	%
Fair value per stock option	$	15.36


	Three Months Ended March 31, 2023
Risk-free interest rate		4.13	%
Expected term (years)		7.00
Volatility		56.32	%
Dividend yield		2.87	%
Fair value per performance stock option (1)	$	14.97

(1)

Represents the weighted-average fair value at each point of projected exercise under the Monte Carlo valuation method.

Commitments and Contingent Liabilities - Environmental - Narrative (Details)
$ in Thousands

1 Months Ended

3 Months Ended

Oct. 31, 2021

USD ($)

CivilPenalty

Mar. 31, 2019

USD ($)

Lawsuit

Mar. 31, 2023

USD ($)

Lawsuit

Owner

Sep. 30, 2022

USD ($)

Mar. 31, 2022

USD ($)

Dec. 31, 2022

USD ($)

Oct. 31, 2020

Lawsuit

Environmental remediation expense

$ 14,000

$ 28,000

Selling, general, and administrative expense

124,000

141,000

Number of civil penalty assessments for violation to reduce facility-wide annual emissions of GenX compounds | CivilPenalty

648,000

$ 668,000

Amount of civil penalty assessed for violation to reduce facility-wide annual emissions of GenX compounds

$ 300

Environmental liabilities indemnification maximum amount

78,000

Obligation related to indemnification

$ 0

Indemnification expiration period

2026-12

Off-site Replacement Drinking Water Supplies [Member]

Accrued for operation, maintenance, and monitoring period

20 years

Off-Site Replacement Drinking Water Supplies and Toxicity Studies [Member]

$ 161,000

163,000

Disbursements period

20 years

Selling, general, and administrative expense

$ 108,000

Assessment And Sampling Drinking Water Supplies [Member]

On-site Surface Water and Groundwater Remediation [Member]

$ 34,000

38,000

Estimated cost of remediation

$ 254,000

264,000

OM&M projected paid period

20 years

Addendum specified penalties

$ 150

Addendum specified additional penalties per week

$ 20

Groundwater Extraction And Treatment System [Member] | On-site Surface Water and Groundwater Remediation [Member]

Accrued for operation, maintenance, and monitoring period

20 years

Estimated operation starting year

2023

PFAS Matters [Member]

Civil penalty and investigative costs

$ 13,000

Percentage of efficiency to control PFAS

99.999%

Number of lawsuits filed | Lawsuit

PFOA [Member]

Number of lawsuits filed | Lawsuit

Compensatory and Punitive Damages [Member]

Number of private well owners seeking for damages | Owner

1,900

Number of lawsuits filed | Lawsuit

Fayetteville Works, Fayetteville, North Carolina [Member]

Environmental remediation expense

$ 9,000

$ 19,000

Fayetteville Works, Fayetteville, North Carolina [Member] | PFAS Matters [Member]

^[1]

$ 449,000

$ 465,000

Percentage of efficiency to control PFAS

99.99%

Reduction of PFAS maximum period

2 years

Percentage of baseline

75.00%

Minimum [Member]

Average time frame of disbursements of environmental site remediation

15 years

Maximum [Member]

Average time frame of disbursements of environmental site remediation

20 years

Loss contingency, potential additional loss

$ 740,000

[1]	For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 16 – Commitments and Contingent Liabilities”.

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

Mar. 31, 2023

Dec. 31, 2022

Current environmental remediation

$ 171

$ 194

Long-term environmental remediation

477

474

Total environmental remediation

648

668

Fayetteville Works, Fayetteville, North Carolina [Member]