0000950170-24-120270 | 10-Q | XBRL Viewer

Restructuring, Asset-Related, and Other Charges

9 Months Ended

Sep. 30, 2024

Restructuring And Related Activities [Abstract]

Restructuring, Asset-Related, and Other Charges

Note 5. Restructuring, Asset-related, and Other Charges

The following table sets forth the components of the Company’s restructuring, asset-related, and other charges by segment for the three and nine months ended September 30, 2024 and 2023.


	Thermal & Specialized Solutions		Titanium Technologies			Advanced Performance Materials			Other Segment		Corporate		Total
Three Months Ended September 30, 2024
Employee separation charges
2024 Restructuring Program	$	—	$	—		$	13		$	—	$	5	$	18
Total employee separation charges		—		—			13			—		5		18
Decommissioning and other charges:
2024 Restructuring Program		—		—			3			—		—		3
Titanium Technologies Transformation Plan		—		(1	)		—			—		—		(1	)
Total decommissioning and other charges		—		(1	)		3			—		—		2
Total restructuring and other charges		—		(1	)		16			—		5		20
Asset-related charges:
2024 Restructuring Program		—		—			25			—		—		25
Total asset-related charges		—		—			25			—		—		25
Total restructuring, asset-related, and other charges	$	—	$	(1	)	$	41		$	—	$	5	$	45

	Thermal & Specialized Solutions		Titanium Technologies			Advanced Performance Materials			Other Segment		Corporate		Total
Nine Months Ended September 30, 2024
Employee separation charges:
2024 Restructuring Program	$	—	$	—		$	13		$	—	$	5	$	18
Titanium Technologies Transformation Plan				(1	)		—			—		—		(1	)
2023 Restructuring Program		—		—			(1	)		—		—		(1	)
Total employee separation charges		—		(1	)		12			—		5		16
Decommissioning and other charges:
2024 Restructuring Program		—		—			3			—		—		3
Titanium Technologies Transformation Plan		—		8			—			—		—		8
Total decommissioning and other charges		—		8			3			—		—		11
Total restructuring and other charges		—		7			15			—		5		27
Asset-related charges:
2024 Restructuring Program		—		—			25			—		—		25
Total asset-related charges		—		—			25			—		—		25
Total restructuring, asset-related, and other charges	$	—	$	7		$	40		$	—	$	5	$	52


	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials			Other Segment		Corporate			Total
Three Months Ended September 30, 2023
Employee separation charges:
Titanium Technologies Transformation Plan	$	—	$	20	$	—		$	—	$	—		$	20
2023 Restructuring Program		—		—		4			—		2			6
2022 Restructuring Program		—		—		—			—		(1	)		(1	)
Total employee separation charges		—		20		4			—		1			25
Decommissioning and other charges:
Titanium Technologies Transformation Plan		—		23		—			—		—			23
Total decommissioning and other charges		—		23		—			—		—			23
Total restructuring and other charges		—		43		4			—		1			48
Asset-related charges:
Titanium Technologies Transformation Plan		—		77		—			—		1			78
Total asset-related charges		—		77		—			—		1			78
Total restructuring, asset-related, and other charges	$	—	$	120	$	4		$	—	$	2		$	126

	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials			Other Segment		Corporate			Total
Nine Months Ended September 30, 2023
Employee separation charges:
Titanium Technologies Transformation Plan	$	—	$	20	$	—		$	—	$	—		$	20
2023 Restructuring Program		—		—		4			—		2			6
2022 Restructuring Program		—		—		(1	)		—		(1	)		(2	)
ERP Implementation Charges		—		—		—			—		1			1
Total employee separation charges		—		20		3			—		2			25
Decommissioning and other charges:
Titanium Technologies Transformation Plan		—		23		—			—		—			23
ERP Implementation Charges		—		—		—			—		4			4
Total decommissioning and other charges		—		23		—			—		4			27
Total restructuring and other charges		—		43		3			—		6			52
Asset-related charges:
Titanium Technologies Transformation Plan		—		77		—			—		1			78
ERP Implementation Charges		—		—		—			—		11			11
Total asset-related charges		—		77		—			—		12			89
Total restructuring, asset-related, and other charges	$	—	$	120	$	3		$	—	$	18		$	141

2024 Restructuring Program

In the third quarter of 2024, management initiated certain transformation initiatives principally within the Advanced Performance Materials business and certain Corporate functions to capture operational and commercial synergies and cost optimization. As part of these efforts, during the third quarter of 2024, the Company initiated additional cost savings programs that were largely attributable to further aligning the cost structure of the Company’s businesses and corporate functions with its financial objectives. As a result, during the three and nine months ended September 30, 2024, the Company recorded charges of $46, consisting of non-cash asset related charges of $25, employee separation charges of $18 and other charges of $3. The associated severance payments began in the third quarter of 2024 and are expected to be substantially completed by the second half of 2025. The $25 of asset related charges are based on decisions made in the third quarter of 2024 primarily related to the write off of certain operating assets and associated construction-in-progress and other assets with no future intended use, as part of a strategic asset footprint transformation analysis within the Advanced Performance Materials business. The Company also expects to incur decommissioning and other charges of approximately $3 through 2026 which will be recognized as period costs as incurred.

Titanium Technologies Transformation Plan

On July 27, 2023, the Company announced the closure of its manufacturing site in Kuan Yin, Taiwan effective August 1, 2023, following the Company’s Board of Directors approval on July 26, 2023. The Company began shutting down production and started decommissioning the plant during the third quarter of 2023 and fully completed the shut-down during the fourth quarter of 2023. Decommissioning activities were completed in the second quarter of 2024 and dismantling began thereafter. Dismantling and removal activities are expected to be completed by the first half of 2025.

As a result, during the three and nine months ended September 30, 2024, the Company recorded charges of $(1) and $8 of decommissioning, dismantling and other charges related to Kuan Yin, inclusive of a reduction in certain contract termination costs. Through September 30, 2024, the Company has recorded total charges of approximately $127, consisting of asset-related impairments of $78, employee separation costs of $14, contract termination costs of $14 and decommissioning, dismantling and other charges of $21. The associated severance payments began in the fourth quarter 2023 and are expected to be substantially completed in the first quarter of 2025. Further, the Company expects to incur additional charges of up to $5 for dismantling and removal activities, which will be expensed as incurred, that are expected to be offset by scrap recoveries.

As part of the Titanium Technologies Transformation Plan, following the plant closure, the segment also initiated an organizational redesign to further align its cost structure with its financial objectives. As a result, cumulative employee separation charges of $6 were recorded from inception through September 30, 2024. The employee separation and related payments are expected to be substantially completed in the fourth quarter of 2024. During the nine months ended September 30, 2024, the Company made total cash payments of $41 associated with the Titanium Technologies Transformation Plan, inclusive of severance payments, decommissioning, and other third-party fees.

2023 Restructuring Program

In addition to the Titanium Technologies plan, in 2023, management also initiated additional severance programs to further align the cost structure of the Company’s businesses and corporate functions with its financial objectives. From inception through September 30, 2024, the Company has recorded cumulative employee separation charges of $3. The severance costs were recognized as follows: $1 in Advanced Performance Materials and $2 in Corporate. The program and related severance payments were substantially completed in the third quarter of 2024.

2022 Restructuring Program

Management initiated a severance program in 2022 that was largely attributable to aligning the cost structure of the Company’s businesses and corporate functions with its strategic and financial objectives. From inception through September 30, 2024, the cumulative amount incurred for the Company's 2022 restructuring program amounted to $8 and the related payments were substantially completed in the fourth quarter of 2023.

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 were completed during the 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 nine months ended September 30, 2024.


	2024 Restructuring Program			Titanium Technologies Transformation Plan			2023 Restructuring Program			Total
Balance at December 31, 2023	$	—		$	10		$	4		$	14
Charges to income		18			(1	)		(1	)		16
Payments		(4	)		(7	)		(3	)		(14	)
Balance at September 30, 2024	$	14		$	2		$	—		$	16

With respect to the $14 of contract termination liabilities associated with the Titanium Technologies Transformation Plan, the Company paid $7 and as such, at September 30, 2024 the Company had $7 remaining as an outstanding liability. There were no other significant outstanding liabilities related to the Company’s decommissioning and other restructuring-related charges at September 30, 2024 and December 31, 2023.

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Capitalized repair and maintenance costs	$ 176	$ 230
Pension assets	69	57
Deferred income taxes	333	303
Miscellaneous	89	87
Total other assets	$ 667	$ 677

- Definition

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

+ References + Details

Accounts Payable

9 Months Ended

Sep. 30, 2024

Payables And Accruals [Abstract]

Accounts Payable

Note 14. Accounts Payable

The following table sets forth the components of the Company’s accounts payable at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Trade payables	$	1,037	$	1,134
VAT and other payables		32		25
Total accounts payable	$	1,069	$	1,159

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. For its supplier financing program obligations classified as accounts payable, the Company agrees to pay the financial institution on those sold invoices on the original invoice due date. The Company also maintains a supplier finance program whose obligations are classified as short-term debt based on an extension of payment terms past 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 September 30, 2024 and December 31, 2023 were $154 and $197, respectively. At September 30, 2024 and December 31, 2023, $141 and $170 are in Accounts Payable in the Interim Consolidated Balance Sheets, while $13 and $27 are included in Short-term and current maturities of long-term debt in the Interim Consolidated Balance Sheets.

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

Sep. 30, 2024

Dec. 31, 2023

Environmental Remediation [Line Items]

Current environmental remediation

$ 119

$ 129

Long-term environmental remediation

448

461

Total environmental remediation

567

590

Fayetteville Works, Fayetteville, North Carolina [Member]

Environmental Remediation [Line Items]

Current environmental remediation

Long-term environmental remediation

289

307

Total environmental remediation

^[1]

$ 356

$ 383

[1]	For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 18 – Commitments and Contingent Liabilities”.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2024

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 nine months ended September 30, 2024 and 2023.


	Net Investment Hedge			Cash Flow Hedge			Cumulative Translation Adjustment			Defined Benefit Plans			Total
Balance at January 1, 2024	$	—		$	(8	)	$	(174	)	$	(92	)	$	(274	)
Other comprehensive (loss) income		(8	)		(2	)		(71	)		2			(79	)
Balance at September 30, 2024	$	(8	)	$	(10	)	$	(245	)	$	(90	)	$	(353	)

Balance at January 1, 2023	$	19		$	6		$	(268	)	$	(100	)	$	(343	)
Other comprehensive income (loss)		10			(4	)		9			13			28
Balance at September 30, 2023	$	29		$	2		$	(259	)	$	(87	)	$	(315	)

Debt - Estimated Fair Values of Senior Debt Issues (Details) € in Millions, $ in Millions	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Other		$ 16
Less: Unamortized issue discounts		(20)		$ (25)
Less: Unamortized debt issuance costs		(17)		(21)
Senior Secured Tranche B-3 Euro Term Loan Due August 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	€ 415	462	€ 415	457
Senior Secured Tranche B-3 U.S Dollar Term Loan Due August 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		1,059		1,067
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value	441	491	€ 441	485
Total principal maturities on debt	€ 441	491
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		3,926		3,907
Long-term debt, Fair Value		3,799		3,776
Other		16
Total senior debt, Carrying Value		3,926		3,907
Less: Unamortized issue discounts		(20)		(25)
Less: Unamortized debt issuance costs		(17)		(21)
Total principal maturities on debt		3,889		3,861
Total senior debt, Carrying Value		3,926		3,907
Total senior debt, Fair Value		3,799		3,776
Level 2 [Member] \| Senior Secured Tranche B-3 Euro Term Loan Due August 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		462		457
Long-term debt, Fair Value		463		451
Level 2 [Member] \| Senior Secured Tranche B-3 U.S Dollar Term Loan Due August 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		1,059		1,067
Long-term debt, Fair Value		1,061		1,068
Level 2 [Member] \| 4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, Carrying Value		491		485
Long-term debt, Fair Value		488		480
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		485		485
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		745		745
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		$ 557		$ 547

Background, Description of the Business, and Basis of Presentation - Summary of Revised Interim Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	$ 1,215	$ 1,214	$ 3,510	$ 3,615
Gross profit	286	273	878	1,051
Restructuring, asset-related, and other charges	45	126	52	141
Total other operating expenses	265	319	607	1,290
Income (loss) before income taxes	(30)	13	118	(247)
Provision for (benefit from) income taxes	(3)	1	24	(28)
Net income (loss)	(27)	12	94	(219)
Net income (loss) attributable to Chemours	$ (27)	$ 12	$ 94	$ (220)
Per share data
Basic earnings (loss) per share of common stock	$ (0.18)	$ 0.08	$ 0.63	$ (1.47)
Diluted earnings (loss) per share of common stock	$ (0.18)	$ 0.08	$ 0.63	$ (1.47)
As reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold		$ 1,206		$ 3,607
Gross profit		281		1,059
Restructuring, asset-related, and other charges		124		139
Total other operating expenses		317		1,288
Income (loss) before income taxes		23		(237)
Provision for (benefit from) income taxes		3		(26)
Net income (loss)		20		(211)
Net income (loss) attributable to Chemours		$ 20		$ (212)
Per share data
Basic earnings (loss) per share of common stock		$ 0.13		$ (1.42)
Diluted earnings (loss) per share of common stock		$ 0.13		$ (1.42)
Revision [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold		$ 8		$ 8
Gross profit		(8)		(8)
Restructuring, asset-related, and other charges		2		2
Total other operating expenses		2		2
Income (loss) before income taxes		(10)		(10)
Provision for (benefit from) income taxes		(2)		(2)
Net income (loss)		(8)		(8)
Net income (loss) attributable to Chemours		$ (8)		$ (8)
Per share data
Basic earnings (loss) per share of common stock		$ (0.05)		$ (0.05)
Diluted earnings (loss) per share of common stock		$ (0.05)		$ (0.05)

Inventories - Narrative (Details) - US [Member] - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory [Line Items]
LIFO inventory amount	$ 868	$ 920
Percentage of LIFO inventory	48.00%	53.00%

Equity - Schedule of Share Repurchase Activity (Details) - 2022 Share Repurchase Program [Member] - Common Stock [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended		29 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024
Equity Class Of Treasury Stock [Line Items]
Total number of shares purchased	0	450,667	0	2,108,408	10,342,722
Total amount for shares purchased		$ 17		$ 69	$ 309
Average price paid per share		$ 37.6		$ 32.48	$ 29.9

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

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, 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				1	(1)
Common stock issued - compensation plans (in shares)		836,031
Exercise of stock options	18			18
Exercise of stock options (in shares)		1,132,528
Purchases of treasury stock, at cost	(69)		$ (69)
Purchases of treasury stock at cost (in shares)			2,108,408
Stock-based compensation expense	13			13
Cancellation of unissued stock awards withheld to cover taxes	(18)			(18)
Net (loss) income	(219)				(220)		$ 1
Dividends	(112)				(112)
Contributions by non-controlling interests	1						1
Other comprehensive income (loss)	28					28
Total stockholders' equity, ending balance at Sep. 30, 2023	749	$ 2	$ (1,807)	1,030	1,837	(315)	2
Shares, ending balance at Sep. 30, 2023		197,344,369	48,980,188
Total stockholders' equity, beginning balance at Jun. 30, 2023	810	$ 2	$ (1,790)	1,014	1,864	(282)	2
Shares, beginning balance at Jun. 30, 2023		196,759,211	48,529,521
Common stock issued - compensation plans				1	(1)
Common stock issued - compensation plans (in shares)		(16,576)
Exercise of stock options	9			9
Exercise of stock options (in shares)		601,734
Purchases of treasury stock, at cost	(17)		$ (17)
Purchases of treasury stock at cost (in shares)			450,667
Stock-based compensation expense	6			6
Net (loss) income	12				12
Dividends	(38)				(38)
Other comprehensive income (loss)	(33)					(33)
Total stockholders' equity, ending balance at Sep. 30, 2023	749	$ 2	$ (1,807)	1,030	1,837	(315)	2
Shares, ending balance at Sep. 30, 2023		197,344,369	48,980,188
Total stockholders' equity, beginning balance at Dec. 31, 2023	739	$ 2	$ (1,806)	1,033	1,782	(274)	2
Shares, beginning balance at Dec. 31, 2023		197,519,784	48,932,387
Common stock issued - compensation plans			$ 1		(1)
Common stock issued - compensation plans (in shares)		322,350	(42,939)
Exercise of stock options	8			8
Exercise of stock options (in shares)		439,974
Stock-based compensation expense	12			12
Cancellation of unissued stock awards withheld to cover taxes	(3)			(3)
Net (loss) income	94				94
Dividends	(112)				(112)
Other comprehensive income (loss)	(79)					(79)
Total stockholders' equity, ending balance at Sep. 30, 2024	659	$ 2	$ (1,805)	1,050	1,763	(353)	2
Shares, ending balance at Sep. 30, 2024		198,282,108	48,889,448
Total stockholders' equity, beginning balance at Jun. 30, 2024	725	$ 2	$ (1,805)	1,045	1,828	(347)	2
Shares, beginning balance at Jun. 30, 2024		198,141,762	48,889,448
Common stock issued - compensation plans (in shares)		80,353
Exercise of stock options	1			1
Exercise of stock options (in shares)		59,993
Stock-based compensation expense	5			5
Cancellation of unissued stock awards withheld to cover taxes	(1)			(1)
Net (loss) income	(27)				(27)
Dividends	(38)				(38)
Other comprehensive income (loss)	(6)					(6)
Total stockholders' equity, ending balance at Sep. 30, 2024	$ 659	$ 2	$ (1,805)	$ 1,050	$ 1,763	$ (353)	$ 2
Shares, ending balance at Sep. 30, 2024		198,282,108	48,889,448

Goodwill and Other Intangible Assets, Net

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

Note 11. Goodwill and Other Intangible Assets, Net

Goodwill

The following table sets forth the changes in the carrying amount of the Company's goodwill by segment for the nine months ended September 30, 2024:


	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials			Other Segment		Total
Balance at December 31, 2023	$	33	$	13	$	56		$	—	$	102
Goodwill impairment		—		—		(56	)		—		(56	)
Balance at September 30, 2024	$	33	$	13	$	—		$	—	$	46

Chemours consists of four operating segments: Thermal & Specialized Solutions, Titanium Technologies, Advanced Performance Solutions, and Performance Chemicals & Intermediates (included in Other Segment). The Company defines its reporting units as operating units or one level below its operating segments. The Company completes its annual goodwill impairment test on October 1 each year, or more frequently if triggering events indicate a possible impairment. The Company continually evaluates financial performance, economic conditions and other recent developments in assessing if a triggering event indicates that the carrying values of goodwill or long-lived assets are impaired.

The total accumulated goodwill impairment losses included in the Company's goodwill balance at September 30, 2024 and December 31, 2023 amounted to $56 and $0.

During the third quarter of 2024, the Company reviewed recently released third-party industry projections, which for hydrogen now reflect lower end-market demand as well as slower market growth through 2030 and a more uncertain long-term growth trajectory beyond 2030. In response to these negative market outlook developments as well as increased commercial headwinds due to limited cyclical end-markets recovery and competitive intensity, the Company has revised its financial projections for the Advanced Performance Materials business which includes reductions to its investment plans. The Company concluded that these market developments, as well as the Company's revised financial projections to reflect these events, represented a triggering event for the Company's Advanced Performance Materials reporting unit and associated goodwill, as well as the related asset group, during the third quarter of 2024. As a result of this conclusion, the Company completed an interim impairment assessment as of August 31, 2024 for its Advanced Performance Materials reporting unit and the related asset group.

The Company concluded that the undiscounted cash flows exceeded the carrying value of the long-lived assets, and that an impairment did not exist. In completing an interim quantitative goodwill impairment test, the Company compared the reporting unit's fair value to its carrying value in order to determine if an impairment charge was warranted. The fair value of the Company's Advanced Performance Materials reporting unit was determined by using a combination of discounted cash flow models (a form of the income approach) and the guideline public company method (a form of the market approach). These valuation models incorporated a number of assumptions and judgments surrounding general market and economic conditions and internal forecasts of future business performance that are based on short- and long-term revenue growth rates, EBITDA margins and prospective financial information surrounding the future cash flows of the reporting unit. Discount rate and market multiple assumptions were determined based on relevant peer companies in the chemicals sector. As a result of the analysis performed, the Company concluded that the carrying amount of the Advanced Performance Materials reporting unit exceeded its fair value resulting in a non-cash goodwill impairment charge of $56, which is recorded within “Goodwill impairment charge” on the Interim Consolidated Statements of Operations for the three and nine months ended September 30, 2024.

Other Intangible Assets, Net

The following table sets forth the gross carrying amounts and accumulated amortization of the Company's other intangible assets by major class at September 30, 2024 and December 31, 2023.


	September 30, 2024							December 31, 2023
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Allowance units (1)	$	8	$	(5	)	$	3	$	13	$	(10	)	$	3
Customer lists		2		(2	)		—		2		(2	)		—
Customer relationships		22		(22	)		—		22		(22	)		—
Patents		13		(13	)		—		13		(13	)		—
Purchased and licensed technology		3		(3	)		—		3		(3	)		—
Other		6		(6	)		—		10		(10	)		—
Total other intangible assets	$	54	$	(51	)	$	3	$	63	$	(60	)	$	3

(1)

Allowance units represent rights purchased for the production and/or importation of regulated materials.

The aggregate pre-tax amortization expense for definite-lived intangible assets was less than $1 for both the three and nine months ended September 30, 2024, respectively, and $2 and $8 for three and nine months ended September 30, 2023, respectively. Less than $1 of pre-tax amortization expense is estimated annually for 2024, 2025, 2026, 2027, 2028 and 2029. Definite-lived intangible assets are amortized over their estimated useful lives, generally for periods up to 20 years. The reasonableness of the useful lives of these assets is periodically evaluated. The Company does not have any indefinite-lived intangible assets.

Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets and Liabilities At Fair Value

The following table sets forth the fair value of the Company’s derivative assets and liabilities at September 30, 2024 and December 31, 2023.


		Fair Value Using Level 2 Inputs
	Balance Sheet Location	September 30, 2024		December 31, 2023
Asset derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Accounts and notes receivable, net (Note 8)	$	—	$	1
Foreign currency forward contracts designated as a cash flow hedge	Accounts and notes receivable, net (Note 8)		—		1
Total asset derivatives		$	—	$	2

Liability derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Other accrued liabilities (Note 15)	$	—	$	1
Foreign currency forward contracts designated as a cash flow hedge	Other accrued liabilities (Note 15)		3		3
Interest rate swaps designated as a cash flow hedge	Other accrued liabilities (Note 15)		8		7
Total liability derivatives		$	11	$	11

Schedule of Pre-tax Charge Fair Value of Financial Instruments

The following table sets forth the pre-tax changes in fair value of the Company’s financial instruments for the three and nine months ended September 30, 2024 and 2023.


	Gain (Loss) Recognized In
									Accumulated
									Other
	Cost of			Interest		Other			Comprehensive
Three Months Ended September 30,	Goods Sold			Expense, Net		Income, Net			Loss
2024
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—	$	1		$	—
Foreign currency forward contracts designated as a cash flow hedge		1			—		—			(6	)
Interest rate swaps designated as a cash flow hedge		—			—		—			(6	)
Euro-denominated debt designated as a net investment hedge		—			—		—			(38	)

2023
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—	$	(1	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		(1	)		—		—			7
Euro-denominated debt designated as a net investment hedge		—			—		—			35




	Gain (Loss) Recognized In
									Accumulated
									Other
	Cost of			Interest		Other			Comprehensive
Nine Months Ended September 30,	Goods Sold			Expense, Net		Income, Net			Loss
2024
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—	$	(5	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		2			—		—			—
Interest rate swaps designated as a cash flow hedge		—			1		—			—
Euro-denominated debt designated as a net investment hedge		—			—		—			(11	)

2023
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—	$	(8	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		5			—		—			5
Interest rate swaps designated as a cash flow hedge		—			4		—			—
Euro-denominated debt designated as a net investment hedge		—			—		—			13

Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2024

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

Note 24. Supplemental Cash Flow Information

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


	September 30, 2024		December 31, 2023
Cash and cash equivalents	$	596	$	1,203
Restricted cash and restricted cash equivalents (1)		70		604
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	666	$	1,807

(1)

At September 30, 2024, restricted cash and restricted cash equivalents balance includes $50 of cash and cash equivalents deposited in an escrow account as per the terms of the MOU, which is classified as a noncurrent asset. At September 30, 2024, restricted cash and restricted cash equivalents balance also includes $20 of insurance recoveries, which is classified as a current asset. At December 31, 2023, restricted cash and restricted cash equivalent balance includes cash and cash equivalents deposited in the Water District Settlement Fund related to the U.S. Public Water System Class Action Suit Settlement (see “Note 18 – Commitments and Contingent Liabilities”).

Long-term Employee Benefits - (Narrative) (Details) - Defined Benefit Pension Plan [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Employer contributions during period	$ 2	$ 9	$ 2	$ 9
Estimated future employer contributions in current fiscal year	$ 1		$ 1

Segment Information - Reconciliation of Segment Adjusted EBITDA from Segments to Consolidated Income Before Income Taxes (Parenthetical) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Accrued litigation				$ 592,000	$ 592,000
Accrued litigation		$ 28,000	$ 44,000
Loss contingency accrual period decrease	$ 250
Accrual balance		201,000	201,000		786,000
Legal charges		1,000	6,000
Third Party [Member]
Segment Reporting Information [Line Items]
Legal charges			24,000
PFAS Matters [Member]
Segment Reporting Information [Line Items]
Litigation-related charges				58,000
M D L Settlement [Member]
Segment Reporting Information [Line Items]
Accrual balance		29,000	29,000
All Other Matters [Member]
Segment Reporting Information [Line Items]
Accrual balance		24,000	24,000		$ 9,000
Litigation-related charges				$ 1,000
TT Transformation Plan [Member]
Segment Reporting Information [Line Items]
Transection fee related to third party		$ 3,000	$ 15,000

Debt - Estimated Fair Values of Senior Debt Issues (Parenthetical) (Details) € in Millions, $ in Millions	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Other		$ 16
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 441	$ 491	€ 441	$ 485
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-3 Euro Term Loan Due August 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 415	$ 462	€ 415	$ 457

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Restructuring, Asset-Related, and Other Charges - Schedule of Restructuring Program (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		21 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]
Employee separation charges	$ 18	$ 25	$ 16	$ 25
Decommissioning and other charges	2	23	11	27
Total restructuring and other charges	20	48	27	52
Asset-related charges	25	78	25	89
Total restructuring, asset-related, and other charges	45	126	52	141
2024 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges	18		18
Decommissioning and other charges	3		3
Asset-related charges	25		25
Titanium Technologies Transformation Plan [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		20	(1)	20
Decommissioning and other charges	(1)	23	8	23
Asset-related charges		78		78
2023 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		6	(1)	6	$ 3
2023 Restructuring Program [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges					1
2022 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		(1)		(2)
ERP Implementation Charges [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges				1
Decommissioning and other charges				4
Asset-related charges				11
Operating Segments [Member] \| Titanium Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		20	(1)	20
Decommissioning and other charges	(1)	23	8	23
Total restructuring and other charges	(1)	43	7	43
Asset-related charges		77		77
Total restructuring, asset-related, and other charges	(1)	120	7	120
Operating Segments [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges	13	4	12	3
Decommissioning and other charges	3		3
Total restructuring and other charges	16	4	15	3
Asset-related charges	25		25
Total restructuring, asset-related, and other charges	41	4	40	3
Operating Segments [Member] \| 2024 Restructuring Program [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges	13		13
Decommissioning and other charges	3		3
Asset-related charges	25		25
Operating Segments [Member] \| Titanium Technologies Transformation Plan [Member] \| Titanium Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		20	(1)	20
Decommissioning and other charges	(1)	23	8	23
Asset-related charges		77		77
Operating Segments [Member] \| 2023 Restructuring Program [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		4	(1)	4
Operating Segments [Member] \| 2022 Restructuring Program [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges				(1)
Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges	5	1	5	2
Decommissioning and other charges				4
Total restructuring and other charges	5	1	5	6
Asset-related charges		1		12
Total restructuring, asset-related, and other charges	5	2	5	18
Corporate [Member] \| 2024 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges	$ 5		$ 5
Corporate [Member] \| Titanium Technologies Transformation Plan [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related charges		1		1
Corporate [Member] \| 2023 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		2		2	$ 2
Corporate [Member] \| 2022 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		$ (1)		(1)
Corporate [Member] \| ERP Implementation Charges [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges				1
Decommissioning and other charges				4
Asset-related charges				$ 11

Net Sales - Summary of Disaggregation of Net Sales by Geographical Region and Segment and Product Group (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	$ 1,501	$ 1,487	$ 4,388	$ 4,666
Transferred at a Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	1,501	1,487	4,388	4,666
Transferred at a Point in Time [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	460	436	1,422	1,445
Transferred at a Point in Time [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	679	690	1,940	2,029
Transferred at a Point in Time [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	348	343	985	1,118
Transferred at a Point in Time [Member] \| Other Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	14	18	41	74
Transferred at a Point in Time [Member] \| North America [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	652	660	2,007	2,130
Transferred at a Point in Time [Member] \| North America [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	248	250	816	843
Transferred at a Point in Time [Member] \| North America [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	270	273	789	812
Transferred at a Point in Time [Member] \| North America [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	125	126	375	424
Transferred at a Point in Time [Member] \| North America [Member] \| Other Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	9	11	27	51
Transferred at a Point in Time [Member] \| Asia Pacific [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	374	364	1,020	1,097
Transferred at a Point in Time [Member] \| Asia Pacific [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	55	42	147	151
Transferred at a Point in Time [Member] \| Asia Pacific [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	178	186	495	513
Transferred at a Point in Time [Member] \| Asia Pacific [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	138	133	370	423
Transferred at a Point in Time [Member] \| Asia Pacific [Member] \| Other Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	3	3	8	10
Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	295	280	880	933
Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	98	85	293	291
Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	126	123	381	403
Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	69	69	201	228
Transferred at a Point in Time [Member] \| Europe, the Middle East, and Africa [Member] \| Other Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	2	3	5	11
Transferred at a Point in Time [Member] \| Latin America [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	180	183	481	506
Transferred at a Point in Time [Member] \| Latin America [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	59	59	166	160
Transferred at a Point in Time [Member] \| Latin America [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	105	108	275	301
Transferred at a Point in Time [Member] \| Latin America [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	16	15	39	43
Transferred at a Point in Time [Member] \| Latin America [Member] \| Other Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	0	1	1	2
Transferred at a Point in Time [Member] \| Titanium Dioxide and Other Minerals [Member] \| Titanium Technologies [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	679	690	1,940	2,029
Transferred at a Point in Time [Member] \| Opteon Refrigerants [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	205	170	631	565
Transferred at a Point in Time [Member] \| Freon Refrigerants [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	146	170	493	581
Transferred at a Point in Time [Member] \| Foam, Propellants, and Other [Member] \| Thermal & Specialized Solutions [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	109	96	298	299
Transferred at a Point in Time [Member] \| Advanced Materials [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	208	214	600	705
Transferred at a Point in Time [Member] \| Performance Solutions [Member] \| Advanced Performance Materials [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	140	129	385	413
Transferred at a Point in Time [Member] \| Performance Chemicals and Intermediates [Member] \| Other Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of Net Sales	$ 14	$ 18	$ 41	$ 74

Accounts and Notes Receivable, Net

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Accounts and Notes Receivable, Net

Note 8. Accounts and Notes Receivable, Net

The following table sets forth the components of the Company’s accounts and notes receivable, net at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Accounts receivable - trade, net (1)	$	825	$	509
VAT, GST, and other taxes (2)		103		81
Other receivables (3)		23		20
Total accounts and notes receivable, net	$	951	$	610

(1)

Accounts receivable - trade, net includes trade notes receivable of $4 and less than $1 and is net of allowances for doubtful accounts of $2 and $2 at September 30, 2024 and December 31, 2023, 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, insurance recoveries and other deposits including receivables under the terms of the MOU. For details of the MOU, see “Note 18 – Commitments and Contingent Liabilities”.

Accounts and notes receivable are carried at amounts that approximate fair value. Bad debt expense amounted to $5 and $7 for the three and nine months ended September 30, 2024, and $2 and $3 for the three and nine months ended September 30, 2023, respectively.

Customer Vendor Financing Facilities

The Company participates in several financing facilities maintained by its customers. These facilities allow the Company to monetize certain of

its receivables prior to their due date. The Company receives a discounted amount from the financial institution which varies depending on the

timing of the payment from the financing institution in relation to the invoice due date from the customer. The Company classifies cash received

from the financial institutions as an operating cash flow.

Earnings Per Share of Common Stock (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the reconciliations of the numerators and denominators of the Company’s basic and diluted earnings per share (“EPS”) calculations for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,					Nine Months Ended September 30,
	2024			2023		2024		2023
Numerator:
Net (loss) income attributable to Chemours	$	(27	)	$	12	$	94	$	(220	)
Denominator:
Weighted-average number of common shares outstanding - basic		149,697,616			148,623,633		149,383,146		148,929,580
Dilutive effect of the Company’s employee compensation plans (1)		—			1,562,005		735,880		—
Weighted-average number of common shares outstanding - diluted		149,697,616			150,185,638		150,119,026		148,929,580

Basic (loss) earnings per share of common stock (2)	$	(0.18	)	$	0.08	$	0.63	$	(1.47	)
Diluted (loss) earnings per share of common stock (1) (2)		(0.18	)		0.08		0.63		(1.47	)

(1)

In periods where the Company incurs a net loss, the impact of potentially dilutive securities is excluded from the calculation of EPS, as their inclusion would have an anti-dilutive effect. As such, with respect to the measure of diluted EPS, the impact of 482,579 and 1,753,788 potentially dilutive securities is excluded from the calculation for the three months ended September 30, 2024 and nine months ended September 30, 2023, respectively.

(2)

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

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

The following table sets forth the average number of stock options and performance stock options that were out of the money and, therefore, were not included in the Company’s diluted EPS calculations for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Average number of stock options		3,047,186		1,325,972		2,028,213		1,305,941

Net Sales - Summary of Contract Balances from Contracts with Customers (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Contract assets:
Accounts receivable - trade, net	$ 825	$ 509
Contract liabilities:
Deferred revenue	12	16
Customer rebates	$ 65	$ 78

Net Sales

9 Months Ended

Sep. 30, 2024

Revenue from Contract With Customer [Abstract]

Net Sales

Note 4. Net Sales

Disaggregation of Net Sales

The following table sets forth a disaggregation of the Company’s net sales by geographic region and segment for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net sales by geographic region (1)
North America:
Thermal & Specialized Solutions	$	248	$	250	$	816	$	843
Titanium Technologies		270		273		789		812
Advanced Performance Materials		125		126		375		424
Other Segment		9		11		27		51
Total North America		652		660		2,007		2,130
Asia Pacific:
Thermal & Specialized Solutions		55		42		147		151
Titanium Technologies		178		186		495		513
Advanced Performance Materials		138		133		370		423
Other Segment		3		3		8		10
Total Asia Pacific		374		364		1,020		1,097
Europe, the Middle East, and Africa:
Thermal & Specialized Solutions		98		85		293		291
Titanium Technologies		126		123		381		403
Advanced Performance Materials		69		69		201		228
Other Segment		2		3		5		11
Total Europe, the Middle East, and Africa		295		280		880		933
Latin America (2):
Thermal & Specialized Solutions		59		59		166		160
Titanium Technologies		105		108		275		301
Advanced Performance Materials		16		15		39		43
Other Segment		—		1		1		2
Total Latin America		180		183		481		506
Total net sales	$	1,501	$	1,487	$	4,388	$	4,666

(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 and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net sales by product group and segment
OpteonTM refrigerants	$	205	$	170	$	631	$	565
FreonTM refrigerants		146		170		493		581
Foam, propellants, and other		109		96		298		299
Total Thermal & Specialized Solutions		460		436		1,422		1,445
Titanium dioxide and other minerals		679		690		1,940		2,029
Total Titanium Technologies		679		690		1,940		2,029
Advanced materials		208		214		600		705
Performance solutions		140		129		385		413
Total Advanced Performance Materials		348		343		985		1,118
Performance chemicals and intermediates		14		18		41		74
Total Other Segment		14		18		41		74
Total net sales	$	1,501	$	1,487	$	4,388	$	4,666

Substantially all of the Company’s net sales are derived from goods and services transferred at a point in time.

Contract Balances

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

The following table sets forth the Company’s contract balances from contracts with customers at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Contract assets:
Accounts receivable - trade, net (Note 8)	$	825	$	509
Contract liabilities:
Deferred revenue	$	12	$	16
Customer rebates (Note 15)		65		78

Changes in the Company’s deferred revenue balances resulting from additions for advance payments and deductions for amounts recognized in net sales during the three and nine months ended September 30, 2024 were not significant. For the three and nine months ended September 30, 2024, 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 September 30, 2024 and December 31, 2023.

Remaining Performance Obligations

Certain of the Company’s master services agreements or other arrangements contain take-or-pay clauses, whereby customers are required to purchase a fixed minimum quantity of product during a specified period, or pay the Company for such orders, even if not requested by the customer. The Company considers these take-or-pay clauses to be an enforceable contract, and as such, the legally-enforceable minimum amounts under such an arrangement are considered to be outstanding performance obligations on contracts with an original expected duration greater than one year. At September 30, 2024, Chemours had $299 of remaining performance obligations. The Company expects to recognize approximately 10% of its remaining performance obligations as revenue in 2024, approximately 37% as revenue in 2025, approximately 27% as revenue in 2026 and approximately 26% as revenue in 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 September 30, 2024 are also excluded.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Subparagraph (e)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

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 nine months ended September 30, 2024.


	Nine Months Ended September 30, 2024
Risk-free interest rate		4.45	%
Expected term (years)		6.00
Volatility		49.02	%
Dividend yield		3.64	%
Fair value per stock option	$	10.28

The following table sets forth the assumptions used at the grant date to determine the fair value of the Company’s performance stock option awards granted during the nine months ended September 30, 2024.


	Nine Months Ended September 30, 2024
Risk-free interest rate		4.43	%
Expected term (years)		6.09
Volatility		48.91	%
Dividend yield		3.64	%
Fair value per performance stock option (1)	$	10.05

(1)

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

Equity - Narrative (Details) - Common Stock [Member] - 2022 Share Repurchase Program [Member] - USD ($)		3 Months Ended		9 Months Ended		29 Months Ended
	Apr. 27, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024
Equity Class Of Treasury Stock [Line Items]
Average price paid per share			$ 37.6		$ 32.48	$ 29.9
Total number of shares purchased		0	450,667	0	2,108,408	10,342,722
Total amount for shares purchased			$ 17,000,000		$ 69,000,000	$ 309,000,000
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		$ 441,000,000		$ 441,000,000		$ 441,000,000
Maximum [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 750,000,000

Stock-based Compensation

9 Months Ended

Sep. 30, 2024

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation

. Stock-based Compensation

The Company’s total stock-based compensation expense amounted to $5 and $12 for the three and nine months ended September 30, 2024, respectively, and $6 and $13 for the three and nine months ended September 30, 2023, respectively. The stock-based compensation expense for the nine months ended September 30, 2024 includes $3 for modifications of the vested stock options granted to the former President and Chief Executive Officer and former Chief Financial Officer, partially offset by a $1 reduction in stock-based compensation expense related to negative discretion applied to certain vested Performance Share Units held by former members of senior management.

Stock Options

On May 8, 2024, the Company granted approximately 705,000 non-qualified stock options to certain of its employees. These awards will vest over a three-year period and expire 10 years from the date of grant. The fair value of the Company's stock options is based on the Black-Scholes valuation model.

The following table sets forth the assumptions used at the grant date to determine the fair value of the Company's stock option awards granted during the nine months ended September 30, 2024.


	Nine Months Ended September 30, 2024
Risk-free interest rate		4.45	%
Expected term (years)		6.00
Volatility		49.02	%
Dividend yield		3.64	%
Fair value per stock option	$	10.28

The Company recorded $1 and $7 in stock-based compensation expense specific to its stock options for the three and nine months ended September 30, 2024, respectively, and $2 and $6 for the three and nine months ended September 30, 2023, respectively. At September 30, 2024, approximately 3,400,000 stock options remained outstanding.

Restricted Stock Units

During the nine months ended September 30, 2024, Chemours granted approximately 430,000 restricted stock units ("RSUs") to certain management and employees. These awards generally vest over a three-year period and, upon vesting, convert one-for-one to Chemours' common stock. The fair value of all stock-settled RSUs is based on the market price of the underlying common stock at the grant date.

The Company recorded $4 and $7 in stock-based compensation expense specific to its RSUs for the three and nine months ended September 30, 2024, respectively, and $4 and $6 for the three and nine months ended September 30, 2023, respectively. At September 30, 2024, approximately 1,076,000 RSUs remained outstanding.

Performance Share Units

On May 8, 2024, Chemours granted approximately 73,000 performance share units (“PSUs”) to key senior management employees. Upon vesting, these awards convert one-for-one to Chemours’ common stock if specified performance goals, including certain market-based conditions, are met over the three-year performance period specified in the grant, subject to exceptions through the vesting period of three years. Each grantee is granted a target award of PSUs and may earn between 0% and 200% of the target amount depending on the Company’s performance against stated performance goals.

A portion of the fair value of PSUs was estimated at the grant date based on the probability of satisfying the market-based conditions associated with the PSUs using a Monte Carlo valuation method, which assesses probabilities of various outcomes of market conditions. The other portion of the fair value of the PSUs is based on the fair market value of the Company’s stock at the grant date, regardless of whether the market-based conditions are satisfied.

The Company recorded less than $1 of stock-based compensation expense specific to its PSUs for the three months ended September 30, 2024, and a net reversal of stock-based compensation expense of $3 for the nine months ended September 30, 2024 respectively, based on its assessment of Company performance relative to award-based financial objectives. The Company recorded less than $1 of stock-based compensation expense specific to its PSUs for both the three and nine months ended September 30, 2023, respectively. At September 30, 2024, approximately 121,000 PSUs, at 100% of the target amount, remained non-vested.

Performance Stock Options

On May 8, 2024, the Company granted approximately 204,000 performance stock options (“PSOs”) to certain of its key senior management employees. These awards have a strike price that is 10% above the closing stock value on the grant date and become exercisable when vested and this market condition is satisfied. These awards will vest over a three-year period and expire 10 years from the date of grant. The fair value of the Company's PSOs was estimated using a Monte Carlo valuation method.


	Nine Months Ended September 30, 2024
Risk-free interest rate		4.43	%
Expected term (years)		6.09
Volatility		48.91	%
Dividend yield		3.64	%
Fair value per performance stock option (1)	$	10.05

(1)

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

The Company recorded less than $1 and $1 in stock-based compensation expense specific to its PSOs for the three and nine months ended September 30, 2024, respectively, and less than $1 and $1 for the three and nine months ended September 30, 2023, respectively. At September 30, 2024, approximately 284,000 PSOs remained outstanding.

Other Liabilities

9 Months Ended

Sep. 30, 2024

Other Liabilities Disclosure [Abstract]

Other Liabilities

Note 17. Other Liabilities

The following table sets forth the components of the Company’s other liabilities at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Employee-related costs (1)	$	72	$	75
Accrued litigation (2)		87		73
Asset retirement obligations (3)		79		67
Miscellaneous (4)		116		113
Total other liabilities	$	354	$	328

(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 18 – Commitments and Contingent Liabilities”).

(3)

Represents the long-term portion of asset retirement obligations, which totaled $93 and $85 when combined with the current portion at September 30, 2024 and December 31, 2023, respectively (see “Note 15 – Other Accrued Liabilities”). During the nine months ended September 30, 2024, the Company incurred $10 in asset retirement obligations. Reduction in estimated cash outflows, liabilities settled in the current period and accretion expense were not material during the nine months ended September 30, 2024.

(4)

Miscellaneous includes accrued indemnification liabilities of $27 and $30 at September 30, 2024 and December 31, 2023, respectively. Miscellaneous also includes long-term income tax liabilities from uncertain tax positions.

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (27)	$ 12	$ 94	$ (220)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
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-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Property, Plant, and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Finance leased assets, gross	$ 97		$ 97		$ 100
Depreciation expense	$ 78	$ 74	$ 223	$ 225

Property, Plant, and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Summary of Property, Plant, and Equipment, Net

The following table sets forth the components of the Company’s property, plant, and equipment, net at September 30, 2024 and December 31, 2023.


	September 30, 2024			December 31, 2023
Equipment	$	7,855		$	7,652
Buildings		1,145			1,180
Construction-in-progress		420			450
Land		89			94
Mineral rights		36			36
Property, plant, and equipment		9,545			9,412
Less: Accumulated depreciation		(6,372	)		(6,196	)
Total property, plant, and equipment, net	$	3,173		$	3,216

Background, Description of the Business, and Basis of Presentation - Summary of Revised Interim Consolidated Statements of Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	$ (27)	$ 12	$ 94	$ (219)
Comprehensive loss	(33)	(21)	15	(191)
Comprehensive loss attributable to Chemours	$ (33)	(21)	$ 15	(192)
As reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		20		(211)
Comprehensive loss		(13)		(183)
Comprehensive loss attributable to Chemours		(13)		(184)
Revision [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		(8)		(8)
Comprehensive loss		(8)		(8)
Comprehensive loss attributable to Chemours		$ (8)		$ (8)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Commitments and Contingent Liabilities - Litigation - PFOA - Leach Settlement (Details) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) Water_district	Dec. 31, 2004 Resident	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Accrual balance	$ 201		$ 786
Leach Settlement [Member] \| Funding for medical monitoring program [Member]
Loss Contingencies [Line Items]
Escrow deposit disbursements	$ 2
Leach Settlement [Member] \| PFOA Matters: Drinking Water Actions [Member]
Loss Contingencies [Line Items]
Binding settlement agreement, class size \| Resident		80,000
Number of water districts Company must provide treatment \| Water_district	6
Accrual balance	$ 26		$ 26
Leach Settlement [Member] \| EID [Member] \| Funding for medical monitoring program [Member]
Loss Contingencies [Line Items]
Littigation settlement funded amount	$ 235

Segment Information

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Information

25. Segment Information

Chemours operates through its three principal 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: Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials. The Company’s Performance Chemicals and Intermediates business is included in Other Segment.

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 (income) costs;

•

exchange (gains) losses included in other income, 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 certain litigation related and environmental charges and 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.


	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials		Other Segment		Segment Total
Three Months Ended September 30, 2024
Net sales to external customers	$	460	$	679	$	348	$	14	$	1,501
Adjusted EBITDA		141		85		39		3
Depreciation and amortization		13		35		23		1		72

Three Months Ended September 30, 2023
Net sales to external customers	$	436	$	690	$	343	$	18	$	1,487
Adjusted EBITDA		162		69		68		2
Depreciation and amortization		15		34		21		1		71

	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials		Other Segment		Segment Total
Nine Months Ended September 30, 2024
Net sales to external customers	$	1,422	$	1,940	$	985	$	41	$	4,388
Adjusted EBITDA		453		235		113		8
Depreciation and amortization		39		99		66		3		207

Nine Months Ended September 30, 2023
Net sales to external customers	$	1,445	$	2,029	$	1,118	$	74	$	4,666
Adjusted EBITDA		561		226		233		18
Depreciation and amortization		47		101		64		5		217

Total Assets
September 30, 2024	$	1,539	$	2,303	$	1,829	$	94	$	5,765
December 31, 2023		1,283		2,226		1,833		96		5,438

Corporate and Other depreciation and amortization expense amounted to $6 and $16 for the three and nine months ended September 30, 2024, respectively, and $5 and $16 for the three and nine months ended September 30, 2023, respectively. Corporate and Other total assets amounted to $1,698 and $2,813 at September 30, 2024 and December 31, 2023, respectively.

The following table sets forth a reconciliation of Segment Adjusted EBITDA to the Company’s consolidated (loss) income before income taxes for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Thermal & Specialized Solutions	$	141		$	162		$	453		$	561
Titanium Technologies		85			69			235			226
Advanced Performance Materials		39			68			113			233
Other Segment		3			2			8			18
Segment Adjusted EBITDA		268			301			809			1,038
Corporate and Unallocated
Corporate expenses (1)		(57	)		(54	)		(187	)		(164	)
Unallocated Items:
Interest expense, net		(69	)		(55	)		(197	)		(145	)
Depreciation and amortization		(78	)		(76	)		(223	)		(233	)
Non-operating pension and other post-retirement employee benefit income (cost)		2			(1	)		4			(1	)
Exchange losses, net		—			(9	)		(6	)		(21	)
Restructuring, asset-related, and other charges (Note 5)		(43	)		(127	)		(51	)		(142	)
Goodwill impairment charge (Note 11)		(56	)		—			(56	)		—
Inventory write-offs (2)		—			(36	)		—			(36	)
Loss on extinguishment of debt		—			(1	)		—			(1	)
Gain on sales of assets and businesses, net (Note 3)		—			106			3			106
Transaction costs (3)		(3	)		(7	)		(15	)		(7	)
Qualified spend recovery (4)		7			11			22			43
Litigation-related charges (5)		(1	)		(31	)		15			(675	)
Environmental charges (6)		—			(8	)		—			(9	)
(Loss) income before income taxes	$	(30	)	$	13		$	118		$	(247	)

(1)

Includes corporate costs and certain legal and environmental expenses, and stock-based compensation expenses excluding unallocated items as listed above.

(2)

Inventory write-offs for the three and nine months ended September 30, 2023 represents write-off of certain raw materials and stores inventories from the Kuan Yin, Taiwan plant closure, which was not allocated in the measurement of Titanium Technologies segment profitability used by the CODM.

(3)

For the three and nine months ended September 30, 2024, transaction costs includes $3 and $15, respectively, of third-party costs related to the Titanium Technologies Transformation Plan, which was not allocated in the measurement of Titanium Technologies segment profitability used by the CODM. For the three and nine months ended September 30, 2023, transaction costs represents costs associated with the New Senior Secured Credit Facilities entered into during the third quarter of 2023 which is discussed in further detail in "Note 16 – Debt".

(4)

Qualified spend recovery represents costs and expenses that were previously excluded from the determination of segment Adjusted EBITDA, reimbursable by DuPont and/or Corteva as part of the Company's cost-sharing agreement under the terms of the MOU. Terms of the MOU are discussed in further detail in "Note 18 – Commitments and Contingent Liabilities".

(5)

Litigation-related charges pertains to litigation settlements, PFOA drinking water treatment accruals, and other related legal fees. For the three and nine months ended September 30, 2024, litigation-related charges primarily includes $28 and $44, respectively, of benefits from insurance recoveries, along with the $29 accrual associated with the Ohio MDL recorded during the third quarter. For the nine months ended September 30, 2023, litigation-related charges includes the $592 accrual related to the United States Public Water System Class Action Suit Settlement plus $24 of third-party legal fees directly related to the settlement, $58 for other PFAS litigation matters, and $1 of other litigation matters.

(6)

Environmental charges pertains to management's assessment of estimated liabilities associated with certain non-recurring environmental remediation expenses at various sites. Refer to "Note 18 – Commitments and Contingent Liabilities" for further details.

- Definition

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

+ References

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+ Details

Financial Instruments - Schedule of Pre-tax Charge Fair Value of Financial Instruments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Accumulated Other Comprehensive Loss	$ (38,000,000)	$ 35,000,000	$ (11,000,000)	$ 13,000,000
Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Accumulated Other Comprehensive Loss	(6,000,000)	7,000,000	1,000,000	5,000,000
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Accumulated Other Comprehensive Loss	(6,000,000)	0		0
Euro Denominated Debt [Member] \| Designated as Hedging Instrument [Member] \| Net Investment Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Accumulated Other Comprehensive Loss	(38,000,000)	35,000,000	(11,000,000)	13,000,000
Cost of Goods Sold [Member] \| Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Derivative Instruments	1,000,000	(1,000,000)	2,000,000	5,000,000
Interest Expense, Net [Member] \| Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Derivative Instruments	1,000,000	0	1,000,000	4,000,000
Other Income (Expense), Net [Member] \| Foreign currency forward contracts [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized In Derivative Instruments	$ 1,000,000	$ (1,000,000)	$ (5,000,000)	$ (8,000,000)

Accounts and Notes Receivable, Net (Tables)

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The following table sets forth the components of the Company’s accounts and notes receivable, net at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Accounts receivable - trade, net (1)	$	825	$	509
VAT, GST, and other taxes (2)		103		81
Other receivables (3)		23		20
Total accounts and notes receivable, net	$	951	$	610

(1)

(2)

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

(3)

Stock-based Compensation - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	May 08, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 5	$ 6	$ 12	$ 13
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 1	2	$ 7	6
Number of shares granted	705,000
Expiration period	10 years
Stock-based compensation award vesting period	3 years
Stock options outstanding		3,400,000		3,400,000
Employee Stock Option \| Chief Executive Officer [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense				$ 3
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 4	4	$ 7	6
Stock-based compensation award vesting period				3 years
Shares issued upon conversion of equity award		1		1
Number of shares non-vested		1,076,000		1,076,000
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				430,000
Performance Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense (benefit)				$ (3)
Stock-based compensation award vesting period	3 years
Number of shares granted	73,000
Shares issued upon conversion of equity award	1
Number of shares non-vested		121,000		121,000
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		$ 1	1		1
Percentage of target award available for grant	200.00%
Performance Share Units [Member] \| Chief Executive Officer [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense				$ 1
Performance Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense				$ 1	$ 1
Expiration period	10 years
Stock-based compensation award vesting period	3 years
Number of shares granted	204,000
Number of shares non-vested		284,000		284,000
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	$ 1

Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2024

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Note 18. 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, including, among others, settlement agreements. 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 September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Asbestos	$	39	$	39
PFOA (1)		55		26
PFAS (2)		83		712
All other matters		24		9
Total accrued litigation	$	201	$	786

(1)

PFOA includes matters under the "PFOA" section within this “Note 18 – Commitments and Contingent Liabilities”.

(2)

PFAS includes matters under the "PFAS" section within this “Note 18 – Commitments and Contingent Liabilities”.

The following table sets forth the current and long-term components of the Company’s accrued litigation and their balance sheet locations at September 30, 2024 and December 31, 2023.


	Balance Sheet Location	September 30, 2024		December 31, 2023
Accrued Litigation:
Current accrued litigation	Other accrued liabilities (Note 15)	$	114	$	713
Long-term accrued litigation	Other liabilities (Note 17)		87		73
Total accrued litigation		$	201	$	786

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, of which approximately $2,000 is available after consideration of the funding of the payment to the State of Ohio and supplemental payment to the State of Delaware. 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 reimbursement of cost-sharing as Qualified Spend under the MOU of approximately $26 and $75 during the three and nine months ended September 30, 2024, and $35 and $112 during the three and nine months ended September 30, 2023 respectively, excluding litigation-related settlements.

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.

As part of the MOU, the parties established 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 five 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 was recognized as restricted cash and restricted cash equivalents on its consolidated balance sheets at December 31, 2023. 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. During 2023, $209 was drawn by Chemours from the escrow account to fund a portion of the U.S public water system class action suit settlement, which remained in escrow in a qualified settlement and was recognized as restricted cash and restricted cash equivalents on the Company's consolidated balance sheets at December 31, 2023. With the Effective date of such settlement being reached, Chemours no longer maintains its reversionary interest to the underlying restricted funds within the Water District Settlement Fund and, as such, the restricted cash and cash equivalents and the associated accrued liabilities were derecognized in the second quarter of 2024. Further discussion related to the U.S public water system class action suit settlement is included under the heading “United States Public Water System Class Action Suit Settlement and Related Opt-Outs” within this “Note 18 – Commitments and Contingent Liabilities”.

In September 2023, the parties entered into a supplemental agreement to the MOU, whereby the parties agreed to (i) release the funds held in escrow to fund, in part, the Water District Settlement Fund (discussed further below), (ii) waive the escrow funding obligation of each party due no later than September 30, 2023, and (iii) with respect to the escrow funding obligation due no later than September 30, 2024, waive the obligation of each of the parties under certain conditions as agreed to by the parties. The parties agreed to fund the payments due by September 30, 2024, and the Company funded $50 into the escrow account on September 30, 2024. As such, at September 30, 2024 and December 31, 2023, the Company had $50 and $0 deposited into the escrow account, respectively.

The parties have also sought insurance coverage for certain claims relating to PFAS matters, including claims in the AFFF MDL. In July 2024, a $45 settlement agreement was reached amongst the parties with one of the insurance carriers. Per agreement with the parties, the Company will receive approximately $23 of the settlement as it will be allocated amongst the parties in accordance with the percentage contribution in the Public Water System Class Action Settlement. Accordingly, during the quarter ended September 30, 2024, the Company recognized a $23 gain within selling, general, and administrative expense in the Interim Consolidated Statements of Operations.

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 September 30, 2024 and December 31, 2023, there were approximately 800 lawsuits pending against EID alleging personal injury from exposure to asbestos, respectively. These cases are pending in state and federal court in numerous jurisdictions in the U.S. and are individually set for trial. A small number of cases are pending outside of the U.S. Most of the actions were brought by contractors who worked at sites between the 1950s and the 1990s. A small number of cases involve similar allegations by EID employees or household members of contractors or EID employees. Finally, certain lawsuits allege personal injury as a result of exposure to EID products.

At September 30, 2024 and December 31, 2023, Chemours had accruals of $39 related to these matters, respectively.

Benzene

In the Separation, EID assigned its benzene docket to Chemours. At September 30, 2024 and December 31, 2023, there were 21 and 20 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 ("Chambers Works"); Dordrecht Works, Netherlands; Changshu Works, China; and, Shimizu, Japan. These sites are now owned and/or operated by Chemours.

At September 30, 2024 and December 31, 2023, Chemours maintained an accrual of $55 and $26, respectively, 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 September 30, 2024, 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 $55 and $26 accrued at September 30, 2024 and December 31, 2023, 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 18 – 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 Second MDL Settlement was a testicular cancer case tried in March 2020 to a verdict of $40 in compensatory and emotional distress damages and $10 in loss of consortium damages. The jury found that EID’s conduct did not warrant punitive damages. In March 2021, the trial court issued post-trial rulings which reduced the consortium damages to $0.25. The Company paid its share from the verdict in this matter in November 2023 after all of EID’s appeals process from United States Court of Appeals to the United States Supreme Court were denied.

In December 2022, the Judicial Panel on Multi-District Litigation (JPML) declined to close the Ohio MDL. As of September 30, 2024, 44 plaintiffs purporting to be Leach class members have filed personal injury cases. Trial was scheduled to start in September 2024 for two plaintiffs, with a second trial scheduled to start in March 2025 for two plaintiffs. Prior to the start of the first trial in September, EID and Chemours entered into an agreement in principle with counsel representing MDL plaintiffs providing for settlement for all filed and pending cases in the MDL as well as additional pre-suit claims.  The Ohio MDL court has ordered the parties to file a joint status report on November 4, 2024 unless a stipulation of dismissal is filed before then, and the parties’ discussions on a settlement continue with the term sheet being finalized. As of September 30, 2024, based on the status of ongoing settlement discussions between the parties and the plaintiffs' counsel, the Company recorded an accrual for $29 for this matter.

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 18 – Commitments and Contingent Liabilities”.

Aqueous Film Forming Foam Matters

Chemours does not manufacture or sell, and has never, manufactured nor sold aqueous film forming foam (“AFFF”). Numerous defendants, including EID and Chemours, have been named in approximately 6,800 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. The court encouraged all parties to discuss resolution of the water provider category of cases, and in October 2022 appointed a mediator to facilitate discussions among and between the parties. Chemours, Corteva/EID and DuPont, together, entered into U.S. public water system class action settlement agreement in June 2023, as further discussed below. Prior to the public water system class action suit settlement, in May 2023, the Plaintiffs filed, and the court granted, a motion to sever all claims against Chemours and EID from the first bellwether trial for the water provider cases. There are currently approximately 700 water provider cases in the AFFF MDL, of which approximately 40 such matters that had been filed as of the Settlement Agreement have submitted opt-outs per below discussion.

For non-water provider cases in the AFFF MDL (approximately 6,100), the parties are now proceeding with discovery in certain personal injury cases, with Tier One discovery completed in June 2024. In July 2024, the parties jointly submitted to the Court a list of proposed Group A and Group B plaintiffs for purposes of staggering Tier 2 discovery. Tier 2 discovery for Group A cases is to be completed on December 2024 and Tier 2 discovery for Group 2 cases is to be completed in March 2025. An initial Tier 2 Group A trial date has been set for October 6, 2025. Further, the Court has also established a case management process for reviewing and listing diseases claimed to be associated with exposure to an AFFF source as well a protocol for dismissing personal injury claims for unlisted diseases. Plaintiffs asserting these unlisted claims were required to dismiss their unlisted personal injury claims without prejudice by September 10, 2024 or produce medical records and expert reports on general and specific causation for the alleged disease.

There are other 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 state court, four individuals filed a lawsuit in September 2019 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 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 July 2023, an agreement to resolve the lawsuit was reached. This matter is now closed. Since February 2023, two other lawsuits have been filed in Illinois state court against numerous defendants, including EID, which also allege 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 July 2024, a civil claim was filed in Virginia state court against multiple defendants, including Chemours, alleging that plaintiff was exposed to PFAS substances through products that defendants manufactured, designed, marketed, sold, supplied, or distributed, such as turn out gear and AFFF. Plaintiffs seek both compensatory and punitive damages. Chemours has not yet been served in this matter.

In September 2024, a matter was filed in New Jersey state court against EIDP, DuPont de Nemours, Chemours and other defendants alleging personal injury due to exposure to AFFF-related PFAS in drinking water.

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 two of the filing parties.

In British Columbia, Canada, a civil claim was filed in the Supreme Court of British Columbia in December 2023 against multiple defendants, including Chemours, seeking to certify the action as a class proceeding. The complaint identifies the class as individuals with certain diagnosed conditions after using or being exposed to AFFF containing PFAS under certain conditions and seeks compensatory and punitive damages.

Also in the British Columbia court, in June 2024, a civil claim was filed by His Majesty the King in Right of the Province of British Columbia against multiple defendants, including Chemours, seeking to certify the action as a class proceeding. The complaint identifies the class as all provincial and territorial governments that have incurred expenditures relating to alleged PFAS contamination, including from AFFF, of its water resources as well as municipalities, regional districts, and other governance authorities and persons responsible for drinking water systems. The complaint seeks compensatory and punitive damages.

In July 2024, a civil claim was filed in the Superior Court of Quebec, District of Montreal, against multiple defendants, including Chemours, seeking to certify the action as a class proceeding. The complaint identifies the class as all natural and legal persons in Quebec who own, operate, or supply water through a drinking water disbursement system intended for human consumption, and whose water source is located near sites where PFAS and PFAS-containing products, such as AFFF, were allegedly manufactured, used, transported, processed or sold by defendants. The claim seeks compensatory and punitive damages.

In August 2024, a claim was filed in the Manitoba Court of King's Bench (Winnipeg Centre) by the Muskoday First Nation against multiple defendants, including Chemours, seeking to certify the action as a class proceeding. The complaint identifies the class as Indian Bands as defined under Canadian law. Plaintiff alleges that “any water, fish, and game they obtain from the reserve is contaminated with PFAS” by PFAS and PFAS-containing products, such as AFFF, that were allegedly manufactured, used, transported, processed, or sold by defendants near their water sources. The claim seeks compensatory and punitive damage.

In August 2024, a civil claim was filed in the Superior Court of Ontario against multiple defendants, including Chemours, seeking to certify the action as a class proceeding. The complaint identifies the class as all persons in Canada who own property with a well and whose well contains PFAS. Plaintiff alleges that their well as the wells of class members were contaminated by PFAS and PFAS-containing products, such as AFFF, that were allegedly manufactured, used, transported, processed, or sold by defendants near their water sources. The claim seeks compensatory and punitive damages.

In September 2024, a civil claim was filed in the Supreme Court of British Columbia in Canada against multiple defendants, including Chemours, seeking to certify the action as a class proceeding. The complaint identifies the class as all persons in Canada who currently own property with a well, and whose well water contains PFAS. Plaintiff alleges that their well, and the wells of class members, were contaminated by PFAS and PFAS-containing products, such as AFFF, that were allegedly manufactured, used, transported, processed, or sold by defendants near their water sources. The claim seeks compensatory and punitive damages.

United States Public Water System Class Action Suit Settlement and Related Opt-Outs

On June 1, 2023, Chemours, Corteva/EID, and DuPont, together, entered into a binding agreement in principle to comprehensively resolve all drinking water claims related to PFAS of a defined class of U.S. public water systems that serve the vast majority of the United States population arising out of the AFFF MDL, that was finalized by a definitive agreement on June 30, 2023 (the "Settlement Agreement"), subject to approval by the United States District Court for the District of South Carolina (the “Court”). A preliminary approval of the Settlement Agreement by the Court was granted on August 22, 2023.

Under the Settlement Agreement, Chemours, Corteva and DuPont collectively established and contributed a total of $1,185 to a qualified settlement fund (“Water District Settlement Fund”). Contribution rates were consistent with the MOU, with Chemours (together with its subsidiaries) contributing 50%, and DuPont and Corteva collectively (together with their subsidiaries) contributing the remaining 50%. The settlement amounts were funded in full and deposited into the Water District Settlement Fund. On September 6, 2023, Chemours deposited $592 into the Water District Settlement Fund, which was recognized as restricted cash and restricted cash equivalents on its consolidated balance sheet at December 31, 2023. In exchange for the payment to the Water District Settlement Fund, Chemours, Corteva and DuPont (together with their subsidiaries) will receive a release of the claims from the Class (as defined below), upon entry into final judgment by the Court in accordance with the Settlement Agreement. The agreement was entered into solely by way of compromise and settlement and is not in any way an admission of liability or fault by Chemours or the other parties.

The class represented in the Settlement Agreement is composed of all Public Water Systems, as defined in 42 U.S.C. § 300f, with a current detection of PFAS or that are currently required to monitor for PFAS under the Environmental Protection Agency’s Fifth Unregulated Contaminant Monitoring Rule or other applicable federal or state law (the “Class”). The following systems are excluded from the settlement class: water systems owned and operated by a State or the United States government; small systems that have not detected the presence of PFAS and are not currently required to monitor for it under federal or state requirements; and water systems in the lower Cape Fear River Basin of North Carolina (which are included only if they so request). PFAS, as defined in the Settlement Agreement, includes PFOA and HFPO-DA among a broad range of fluorinated organic substances. While it is reasonably possible that the excluded systems or claims could result in additional future lawsuits, claims, assessments or proceedings, it is not possible to predict the outcome of any such matters, and as such, the Company is unable to develop an estimate of a possible loss or range of losses, if any, at this time.

The Settlement Agreement does not resolve claims of Public Water Systems that are not included in the settlement as described above, or of Public Water Systems that requested exclusion from the Class (“opt out”) pursuant to the process established by the Court. It also does not resolve potential future claims of Public Water Systems that have not detected and do not detect any PFAS contamination, but where such contamination first occurs in the future. The Settlement Agreement also does not resolve certain claims not related to drinking water, such as certain specified separate alleged claims relating to stormwater or wastewater treatment, or other alleged types of claims such as for personal injury or for natural resource damages claimed by state attorneys general, that remain outstanding in the AFFF MDL or other courts. Matters related to claims from other public water systems, state natural resources damages and other PFAS matters are further described below.

As part of the preliminary approval of the Settlement Agreement in August 2023, notice of the Settlement Agreement has been provided to class members and such members had until November 11, 2023 to object to the settlement or December 4, 2023 to submit a request for exclusion, indicating they wish to opt-out of the settlement class. A Final Fairness Hearing on the Settlement Agreement occurred on December 14, 2023.

On January 3, 2024, the Court-appointed Notice Administrator for the settlement submitted a declaration regarding objections to the settlement and opt-outs, and on February 6, 2024, it submitted an updated report to the Court regarding its further review of the submitted opt-outs. The Notice Administrator identified that, based on his then February 2024 review as done in accordance with the Court's guidance, opt-outs had been received from approximately 1,000 of the 14,167 listed potential Class members. In addition to those opt-outs, the Notice Administrator stated that he also received requests for exclusion from approximately 300 additional entities that were not on the list of Class members. The Court issued an order providing that the deadline for entities to withdraw a previously submitted opt-out was March 1, 2024, which was subsequently extended to March 15, 2024 by the Court. The Notice Administrator’s determinations are not dispositive of the validity of opt-outs, which may be subject to judicial review and the Notice Administrator also continues to review the opt-outs for whether they were proper or duplicative.

Chemours, Corteva and DuPont deny the allegations in the underlying litigation and reserve all legal and factual defenses against such claims if they were litigated to conclusion. On February 8, 2024, the Court issued an opinion and order granting the plaintiffs’ motion for final approval of the settlement, and on February 26, 2024, the Court entered a final order and judgment. On March 11, 2024, one public water system filed a notice of appeal from the district court’s judgment, and such appeal was dismissed in April 2024. No additional appeals were filed during the appeal period, and accordingly the court's approval is a final judgment in accordance with the Settlement Agreement. The Settling Defendants confirmed to the escrow agent in May 2024 that the Effective Date has occurred under the Settlement Agreement and Chemours no longer maintains its reversionary interest to the underlying restricted funds within the Water District Settlement Fund.

With respect to the submitted opt-outs, for those entities that have filed claims and/or lawsuit against numerous defendants, including Chemours, EID, Corteva, DuPont, either prior or subsequent to the Settlement Agreement, approximately 40 of such opt-out entities are in the U.S. District Court of South Carolina Multi-district litigation and approximately 85 of such opt-out entities are named plaintiffs in other various federal, state or local courts (see Other Public Water System Matters below). The Company’s assessment of its potential liability with respect to the opt-outs considers numerous factors, many of which are not yet determinable. Many of these lawsuits and claims involve highly complex issues related to causation, scientific evidence and alleged actual damages and other substantial uncertainties.

Other than a single opt-out matter, for which the Company is engaged in discussions with the opt-out entity and maintains an immaterial accrual, the Company has not accrued for any potential losses with respect to the opt-out population as of September 30, 2024 and December 31, 2023 as such losses are not probable or estimable. Additional future lawsuits, claims, assessments or proceedings, including for those identified in the Other Public Water Systems Matters below, could be brought or maintained either by entities that submitted opt-outs, or by entities asserting claims that are expressly excluded from the releases in the Settlement Agreement. However, it is not possible to predict the outcome of any such matter due to various reasons including, among others, legal and factual defenses against such claims including factors noted above, timing when such claims could be resolved in court, and the number of defendants in any of those claims. While management believes that it is reasonably possible that the Company could incur losses related to the matters, which could be material to the results of operations, financial position, or cash flows, the Company is unable to develop a reasonable estimate of a possible loss or range of losses, if any, at this time.

Other Public Water System Matters

In addition to the matters described in the AFFF MDL, as well as the matters described in "Litigation and Other matters related to Fayetteville” within this “Note 18 – Commitments and Contingent Liabilities”, other public water systems have filed lawsuits against Chemours, Corteva/EID, and DuPont including the following:

In New York federal court, 23 Long Island water suppliers that have filed lawsuits since August 2019 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. One of the water suppliers filed to opt out of the Public Water System Class Action Settlement.

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. In May 2024, the case was dismissed by stipulation in connection with the Public Water System Class Action Settlement, and the matter is now closed.

In New York and New Jersey federal courts, lawsuits were filed by Suez Water in December 2020 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. Suez filed to opt out these matters from the Public Water System Class Action Settlement. In March 2024, the stays in these matters were lifted and discovery is proceeding.

In Georgia and Alabama courts, lawsuits were filed beginning in 2017 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 alleging negligence, nuisance, and trespass in the release of PFAS, including PFOA, into a river leading to the town’s water source. The Town of Centre filed to opt out of the Public Water System Class Action Settlement, and this matter is expected to proceed to trial in March 2025.

Also, in Alabama, a purported class action was filed in July 2022 in Alabama federal court by the Utilities Board of Tuskegee 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 May 2023 the matter was removed to federal court and later remanded to state court. In August 2023, the Water Works and Sewer Board of the City of Gadsden, Alabama also filed suit in Alabama state court against the Company, DuPont, Corteva and other suppliers to carpet mills in Dalton Georgia, as well as against various landfill and waste companies. The complaint alleges negligence, nuisance, and trespass in the release of PFAS compounds, including PFOA, reaching the town’s water source. Gadsden seeks compensatory damages as well as expenses, potential lost profits, punitive damages and injunctive release. These matters were stayed in September 2023 pending final approval of the Public Water System Class Action Settlement. Shelby County, Talladega County, City of Gadsden and the Utilities Board of Tuskegee as well as other water utilities that may be within the class, filed to opt out of the Public Water System Class Action Settlement and the matters are now proceeding.

In March 2024, the Municipal Utilities Board of the City of Albertville, Alabama filed suit in Alabama state court against certain defendants, including Chemours and EID. The complaint alleges negligence, nuisance, trespass and seeks compensatory damages, real property damages, as well as past and future expenses, potential lost profits, and punitive damages. The plaintiffs also seek injunctive relief. Albertville filed to opt out of the Public Water System Class Action Settlement.

In April 2024, the Board of Water and Sewer Commissioners of the City of Mobile, Alabama filed suit in Alabama state court against certain defendants, including Chemours, DuPont and Corteva. The complaint alleges negligence, nuisance, trespass and wantonness through disposal of construction materials made with PFAS allegedly supplied by defendants, to the local landfill, which allegedly resulted in the release of PFAS compounds reaching the town’s water source. Mobile seeks compensatory damages as well as expenses, potential lost profits, punitive damages, and attorneys’ fees. Mobile also seeks an injunction requiring defendants to remove PFAS from the water supply. Mobile filed to opt out of the Public Water Class Action Settlement. In October 2024, the Court dismissed Plaintiff’s complaint in its entirety for failure to state a claim as well as lack of standing.

In Georgia, a lawsuit was filed by the City of Rome against numerous carpet manufacturers, certain municipal defendants, and suppliers and former suppliers, including EID and Chemours, alleging negligence, nuisance, and trespass in the release of PFAS, including PFOA, into a river leading to the town’s water source. In June 2023, Chemours, DuPont and Corteva entered into a confidential settlement with the City of Rome and its claims against these parties related to this matter have been released and the matter dismissed. The Company recorded the related settlement amount in Selling, General and Administrative expenses in the Consolidated Statement of Operations for the year ended December 31, 2023.

In Georgia, a putative class action was filed in 2019 on behalf of customers of the Rome, Georgia water division and the Floyd County, Georgia water department against the City of Dalton, Georgia, numerous carpet manufacturers located in Dalton, Georgia, Chemours and EID, alleging negligence, nuisance and other claims related to the release of perfluorinated compounds, including PFOA, into a river leading to their water sources. In November 2022, EID and Chemours were added as defendants in a purported class action filed on behalf of residents of Summerville, Georgia and Chattooga County, Georgia in Federal Court. Plaintiffs seek various statutory violations as well as negligence and nuisance and seek remedies, injunctive relief, personal injury and property damages, as well as punitive damages. These matters are pending in court. Floyd County, City of Rome and Summerville filed to opt out of the Public Water System Class Action Settlement.

Additionally in Georgia state court, in January 2024, certain landowners of property in Gordon County, Georgia, filed suit against the City of Calhoun, numerous carpet manufacturers operating in Calhoun, and carpet mill suppliers, including 3M, EID and Chemours. The complaint alleges that the carpet manufacturers sent PFAS containing wastewater to the Calhoun Water Pollution Control Plant for many years. It further alleges Calhoun spread the treated sludge containing PFAS from the Calhoun Water Pollution Control Plant on plaintiffs' land until 2023. Plaintiffs allege negligence and nuisance, and seek compensatory damages, including diminution of property value, and punitive damages, as well as an injunctive order to remediate the property. Calhoun filed to opt out of the Public Water System Class Action Settlement. In May 2024, a separate lawsuit was filed in Georgia state court on behalf of multiple plaintiffs located in Calhoun, Georgia, alleging that defendants, including Chemours and EID, manufacture chemicals used in carpet manufacturing processes which have been discharged in wastewater to the Calhoun Water Pollution Control Plant. Plaintiffs allege and seek damages for PFAS contamination of their properties due to sewage sludge dumped in close proximity to their properties by Defendant City of Calhoun. The lawsuit alleges negligence, failure to warn, nuisance, wanton conduct and punitive damages, public nuisance, abatement of public nuisance, and trespass. The Defendant City of Calhoun filed cross claims against numerous carpet manufacturers, and carpet mill suppliers, including EID and Chemours in both of these actions. The cross claims allege that the carpet manufacturers and suppliers knew PFAS containing wastewater sent to the Calhoun Water Pollution Control Plant and would not be removed by Calhoun’s treatment systems. The City of Calhoun alleges negligence, nuisance, and statutory violations. Calhoun seek compensatory and punitive damages as well as injunctive relief ordering abatement, remediation, and attorneys’ fees. Chemours and EID moved to dismiss the plaintiff's claims as well as the City of Calhoun's cross claims in the actions.

In June 2024, the City of Columbia, South Carolina (“City of Columbia”) filed suit in South Carolina state court against multiple defendants, including Chemours, EID, and DuPont De Nemours, who are alleged to be responsible for the release of PFAS into the City of Columbia’s water supply as suppliers to the metal finishing, paper finishing, plastics coating, textile, and aerospace industries. The complaint alleges that a variety of industrial operations have discharged PFAS into the Broad River and the Saluda River, which are the source of the City of Columbia’s drinking water, and that PFAS have been detected at high levels in these rivers and in Lake Murray (a Saluda River impoundment). The City of Columbia seeks compensatory and punitive damages. The City of Columbia filed to opt out of the Public Water Class Action Settlement.

In July 2024, the Town of Lyerly, Georgia (“Lyerly”) filed suit in Georgia state court against multiple defendants, who are alleged to be responsible for the release of PFAS to the water supply from carpet mill operations or as suppliers to those carpet mills. The complaint alleges negligence, nuisance, trespass and regulatory violations. Lyerly seeks compensatory damages for past and future expenses as well punitive damages and attorneys’ fees. Lyerly has filed to opt out of the Public Water System Class Action Settlement.

In July 2024, the Town of Pine Hill, Alabama (“Pine Hill”) filed suit in Alabama state court against multiple defendants, including, the Company, DuPont, and Corteva, who are alleged to be responsible for the release of PFAS to the water supply through paper mill operations or as suppliers to paper mills. The complaint alleges negligence, nuisance, trespass, wantonness and punitive damages. Pine Hill seeks injunctive relief, compensatory damages for property damages, potential lost profits and past and future expense as well punitive damages and attorneys’ fees. The Town of Pine Hill has filed to opt out of the Public Water System Class Action Settlement.

In August 2024, the City of Irondale, Alabama (“Irondale”) filed a lawsuit in Alabama state court against multiple defendants, including Chemours. Plaintiff alleges that defendants have manufactured, supplied, and/or sold products containing PFAS that have contaminated plaintiff's water systems. Irondale disclaims any claims or causes of actions relating to AFFF and has opted out of the Public Drinking Water Settlement.

State Natural Resource Damages Matters

In addition to the State of New Jersey actions (as detailed below), a majority of the states and certain territories of the U.S., have filed lawsuits or are investigating claims against various 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. Chemours, Corteva/EID and DuPont, together under the MOU, are engaged with States and their counsel on certain of these cases. It is reasonably possible that these 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 such 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.

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. On November 28, 2023, Chemours, DuPont, Corteva, and EID entered into a settlement agreement with the State of Ohio to settle claims, including environmental releases or sales of products containing PFAS or other known contaminants. Under the agreement, Chemours will pay $55 to the State of Ohio, which shall be used to support environmental restoration. Chemours contribution is consistent with the 50% contribution rate under the MOU. This amount is included in Accrued Litigation as of December 31, 2023 and September 30, 2024, and is expected to be paid in 2024 or 2025.

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. Following entry of the settlement agreement with the State of Ohio and its payment and pursuant to the terms of the settlement agreement with the State of Delaware, the Companies will make a supplemental payment directly to the Trust in an amount equal to $25 in the aggregate. Chemours’ share of such supplemental payment is approximately $13, which is included in Accrued Litigation as of December 31, 2023 and September 30, 2024, and is expected to be paid in 2024 or 2025.

Other PFAS Matters

In New York courts, EID has been named in approximately 40 lawsuits beginning in 2017, 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. Chemours and EID entered into settlement agreements in principle to resolve all but seven of the pending lawsuits, including the class action suit, during the second quarter of 2023 and were substantially paid in the fourth quarter of 2023. In February 2024, the Company agreed to resolve all of the remaining individual cases and claims, including six of the seven pending lawsuits for $0.4. As of September 2024, these settlements have all been paid consistent with prior reserves in the matters. Upon settlement completion and dismissal of the individual matters, the class action is the sole remaining lawsuit pending for these matters.

In New Jersey federal court, lawsuits were filed against several defendants including EID and Chemours beginning in November 2019. The lawsuits include ten lawsuits alleging that defendants are responsible for PFAS contamination, including PFOA and PFOS, in groundwater and drinking water. During the second quarter of 2023, the companies resolved these claims. Eight lawsuits were also 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. Further, eleven additional lawsuits were filed in state court with similar allegations of personal injury, which have been removed to New Jersey federal court (and one of which was transferred to the AFFF MDL). In May 2024, a case alleging wrongful death from exposure to PFAS and other chemicals on behalf of two deceased residents of Salem County, NJ was filed naming Chemours in New Jersey state court. The case has also been removed to federal court. Plaintiffs seek certain damages including punitive damages.

In Ohio federal court, a putative class action ("Hardwick") was filed in October 2018 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. During the fourth quarter of 2023, the Court dismissed the class action against 3M, EID, Chemours and the other defendants. In December, 2023, the plaintiff filed a petition for reconsideration and for rehearing en banc with the 6th Circuit. In January 2024, the 6th Circuit denied the request for rehearing. In March 2024, the case was dismissed. In June 2024, Hardwick refiled a putative national class action in federal court in Ohio against 3M, DuPont, and the Company. The refiled Hardwick suit seeks class status for all those in the United States who have 2 ppb or more of “C8 (PFOA and PFOS combined)” in their blood and who are subject to the laws of a state that recognizes medical monitoring. The complaint alleges negligence, battery and conspiracy and seeks equitable, declaratory, and injunctive relief including medical monitoring overseen by a court-appointed independent science panel. The complaint does not seek monetary damages or personal injury. In October 2024, defendants filed a motion to dismiss the matter.

In Delaware state court, a putative class action was filed in May 2019 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. In November 2023, a motion to amend the complaint was filed seeking to add Chemours as a defendant. The putative class of residents alleges negligence, nuisance, trespass, and other claims and seeks medical monitoring, personal injury and property damages, and punitive damages. The matter has been removed to federal court.

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 April 2024, EID and Chemours filed a third-party complaint against Huntsman, Ciba Specialty Chemicals, Galey & Lord, Nanotex and John Does alleging indemnification and contribution. In September 2024, Huntsman filed a counterclaim against EID and Chemours alleging indemnification and contribution. In August 2024, a complaint related to the same fabric mill was filed on behalf of an individual in South Carolina state court against 3M, EID, Chemours and other companies alleging personal injuries resulting from exposure to PFAS emissions from the former textile plant. The complaint alleged negligence, strict liability, products liability counts, and fraud and seek compensatory and punitive damages and costs. In August 2024, 3M removed the matter to federal court.

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 Pennsylvania, in December 2023, a lawsuit was filed in state court on behalf of multiple plaintiffs alleging that defendants including Chemours, EID, Corteva and DuPont, as manufacturers of chemicals used in gas well fracking, are responsible for contamination of the water supply. The lawsuit alleges negligence, personal injury, medical monitoring, property damage and punitive damages. In May 2024, Plaintiffs filed an amended complaint and did not name Chemours, EID, Corteva or DuPont de Nemours.

In Delaware, in October 2023, a lawsuit was filed in state court on behalf of the spouse of a former EID employee, naming Chemours, EID, Corteva, DuPont and others alleging personal injury as a result of take-home exposure to PFAS and other compounds. The complaint seeks compensatory and punitive damages.

In Missouri, in April 2024, a putative class action was filed in federal court against several defendants including 3M, EID, Corteva, DuPont, and Chemours alleging responsibility for PFAS contamination in drinking water and the environment in Portageville, Missouri. The putative class of residents alleges negligence, nuisance and strict liability. The complaint also alleges personal injury and property damages and seeks medical monitoring, abatement and compensatory and punitive damages. In August 2024, the case was dismissed against EID and Chemours for lack of personal jurisdiction.

In April 2024, three defendants in a 2022 Massachusetts federal court putative class action alleging PFAS contamination and related in part to the Massachusetts Natural Fertilizer Company Site, The Newark Group, Seaman Paper Company and Otter Farm, Inc., filed cross claims against the Company, DuPont, Corteva, EID and other defendants, including John Doe defendants, for the sole purpose of pleading and protecting any claims for indemnity or contribution they may have against the cross claim defendants, if they are found liable in the underlying putative class action. In October 2024, the Court disallowed the cross claims which ends the matter as to the Company.

In May 2024, a lawsuit was filed in Missouri federal court against multiple defendants, including Chemours, seeking to certify the action as a class proceeding. Plaintiffs allege that defendants have manufactured, supplied, and/or sold products containing PFAS that have contaminated the soil, groundwater, aquifer, and drinking water for plaintiffs’ properties in and near Canton, Missouri. The complaint seeks certification on behalf of plaintiffs and others similarly situated whose properties were allegedly damages by contaminants produced by defendants. Plaintiffs seek a medical monitoring class as well. Plaintiffs seek compensatory and punitive damages.

In June 2024, a lawsuit was filed in Connecticut federal court on behalf of multiple firefighter unions and individual firefighters against multiple defendants, including Chemours, EID, and DuPont De Nemours, seeking to certify the action as a class proceeding. Plaintiffs allege that defendants manufactured, sold, or supplied chemicals containing PFAS which was allegedly found in turnout gear. Plaintiffs allege strict liability, negligence, failure to warn, negligent design and manufacture, medical monitoring, and statutory punitive damages.

In September 2024, a civil claim was filed in the Supreme Court of British Columbia in Canada against multiple defendants, including Chemours, seeking to certify the action as a class proceeding. The complaint identifies the class as all resident persons or entities in Canada who purchased carpeting treated with PFAS-containing products through a retailer or distributor before January 1, 2020 and had it installed in a building still owned by such persons or entities and who have not removed the carpeting. The complaint seeks compensatory and punitive damages.

In September 2023, a civil claim was filed in Virginia state court against multiple defendants, including Chemours, alleging breach of implied warranties, breach of express warranties, negligence, gross negligence, recklessness, and willful and wanton misconduct. Plaintiff alleges that defendants manufactured, designed, marketed, sold, supplied, or distributed PFAS, PFAS containing chemical feedstock, and PFAS-containing turnouts to firefighting training facilities and fire departments nationally, including Virginia where plaintiff’s husband was a firefighter. Plaintiff alleges that repeated and extensive exposure to PFAS resulted in her husband’s brain cancer. The complaint seeks compensatory and punitive damages.

In April 2024, a civil claim was filed in Virginia state court against multiple defendants, including Chemours, alleging breach of implied warranties, breach of express warranties, negligence, gross negligence, recklessness, and willful and wanton misconduct. Plaintiff alleges that Defendants manufactured, designed, marketed, sold, supplied, or distributed PFAS, PFAS containing chemical feedstock, and PFAS-containing turnouts to firefighting training facilities and fire departments nationally, including Virginia. The complaint seeks compensatory and punitive damages.

In September 2024 a putative national class action was filed in federal court in Minnesota against 3M, EIDP and Chemours related to PFAS in carpet. Violations of the federal Racketeer Influenced and Corrupt Organizations Act (RICO) are alleged as well as violations of over 30 state statutes, including consumer fraud, deceptive trade practices, misrepresentation, and unfair competition laws. The complaint also includes product liability and nuisance claims.

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. On September 27, 2023, the court entered a second interlocutory judgment, ruling, inter alia, that defendants were liable to the municipalities for (i) PFOA emissions during a certain time period and (ii) removal costs if deposited emissions on the municipalities land infringes their property rights by an objective standard. Any damages will be decided in a separate, subsequent proceeding. Chemours is in discussions with the municipalities to identify actions that may resolve their and other community concerns, including providing technical and financial support for activities. In June 2024 the Company and the Municipalities signed a Letter of Intent (LOI) that includes the implementation of a specific remediation plan for the restoration of restricted vegetable gardens in certain areas of those municipalities to be funded by Chemours, sampling and developing a program to address the Merwelanden recreational lake, and further settlement discussions, including a fund to cover certain other expenditures aimed at environmental-related activities. An estimate of this liability was included in Accrued Litigation at December 31, 2023 and was reclassified to Accrued Environmental Remediation as of September 30, 2024 based on the remediation plan to be implemented as part of the LOI. The LOI contemplates the possibility of settling the court dispute, although still subject to further discussion with the municipalities.

Further, in the Netherlands, in September 2023, a Dutch criminal defense lawyer announced a criminal complaint with the support of a few thousand citizens against Chemours and its current and former directors for alleged unlawful emissions of PFOA and GenX in Dordrecht. This claim has been filed with the Office of the Public Prosecutor, which is proceeding with the investigation.

In addition to the above matters, the Company may engage in discussions or dispute resolutions with various parties regarding other claims, including third-party indemnity claims, and potential resolutions of such matters. In the year ended December 31, 2023, the Company recorded an amount related to one or more of these matters.

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. In April 2024 NJDEP submitted to the court a letter declaring that the parties had reached an impasse in the mediation. A case management schedule was entered by the court in May 2024, with the Chambers Works and Pompton Lakes matter being active and the other two matters being administratively terminated without prejudice. In August 2024, Third Amended Complaints were filed in the Chambers Works and Pompton Lakes Works matters. Discovery is ongoing in the two active matters and pretrial papers are due for the Chambers Works matter in May 2025, with trial to begin in June 2025. In June 2024, Carneys Point Township filed a motion to intervene in such matter seeking to bring counterclaims against both the State of New Jersey and defendants, including Chemours, related to natural resource damages, remediation funding sources, ISRA penalties, off-site remediation and lost property taxes.

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 18 – 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 individual matters specifically 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 to results of operations, financial position, or cash flows 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 six lawsuits currently pending in Indiana federal court, 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. Management believes a loss, which could be material, is reasonably possible, but not estimable at this time due to various reasons including, among others, that such matters are in their early stages and have significant factual issues to be resolved.

Securities Related Litigation and Requests for Information Arising From Audit Committee Internal Review, and Related Indemnification Agreements

The Audit Committee, with the assistance of independent counsel, conducted an internal review in the first quarter of 2024 arising from a report made to the Chemours Ethics Hotline, and its findings include that the Company’s then CEO, CFO and Controller violated the Chemours Code of Ethics for those positions. The Company has made SEC filings and issued press releases related to the Audit Committee Internal Review. Chemours is cooperating with requests for information from the SEC and the United States Attorney’s Office for the Southern District of New York concerning the results of the Audit Committee Internal Review and the Company’s SEC filings and in June 2024 received a subpoena from the SEC. In March 2024, two putative class actions were filed in Delaware federal court against the Company and former officers of the Company alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. The complaints allege claims on behalf of proposed classes of purchasers of Chemours stock beginning February 10, 2023 and ending February 28, 2024 and seek compensatory damages and fees. In September 2024, an Amended Complaint was filed, and the Company and former officers filed a motion to dismiss the Amended Complaint in October 2024. In April 2024, June 2024, July 2024, August 2024 and October 2024, the Company received seven stockholder demands for inspection of books and records under Section 220 of the General Corporation Law of the State of Delaware and the common law (“Section 220 Demand”), including in its purpose the investigation of possible wrongdoing, mismanagement or breach of fiduciary duties by the Board of Directors and/or senior management in connection with the compensation of executive officers and oversight over the Company’s accounting practices. In addition, the Company is aware of additional efforts by private law firms to solicit clients in regard to potential securities class action or derivative litigation. Management believes that it is not possible at this time to reasonably assess the outcome of these matters or to estimate the loss or range of loss, if any, as the matters are in their early stages with significant issues to be resolved, including, for certain matters, whether a claim will be made.

The Company has indemnification and expense advancement obligations pursuant to its bylaws and indemnification agreements with respect to certain current and former members of senior management and the Company’s directors. In connection with the Audit Committee Internal Review, and above litigation matters, the Company has received requests from former members of senior management under such indemnification agreements and its bylaws to provide advances of funds for legal fees and other expenses and expects additional requests in connection with the investigation and any future related litigation. The Company has incurred less than $1 and $1 of costs for these indemnification agreement requests during the three and nine months ended September 30, 2024, respectively. These costs have been recorded within Selling, general, and administrative expense. The Company has not recorded any material liabilities for these matters as of September 30, 2024 and December 31, 2023 as it cannot estimate the ultimate outcome at this time.

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 September 30, 2024 and December 31, 2023 for the five sites that are deemed the most significant during the periods presented, together with the aggregate liabilities for all other sites.


	September 30, 2024		December 31, 2023
Chambers Works, Deepwater, New Jersey	$	31	$	30
Fayetteville Works, Fayetteville, North Carolina (1)		356		383
Pompton Lakes, New Jersey		41		41
USS Lead, East Chicago, Indiana		—		12
Washington Works, West Virginia		26		22
All other sites		113		102
Total environmental remediation	$	567	$	590

(1)

For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 18 – Commitments and Contingent Liabilities”.

The following table sets forth the current and long-term components of the Company’s environmental remediation liabilities at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Current environmental remediation	$	119	$	129
Long-term environmental remediation		448		461
Total environmental remediation	$	567	$	590

Typically, the timeframe for a site to go through all phases of remediation (investigation and active clean-up) may take about 15 to 20 years, followed by several years of operation, maintenance, and monitoring (“OM&M”) activities. Remediation activities, including OM&M activities, vary substantially in duration and cost from site to site. These activities, and their associated costs, depend on the mix of unique site characteristics, evolving remediation technologies, and diverse regulatory requirements, as well as the presence or absence of other potentially responsible parties. In addition, for claims that Chemours may be required to indemnify EID pursuant to the Separation-related agreements, Chemours, through EID, has limited available information for certain sites or is in the early stages of discussions with regulators. For these sites in particular, there may be considerable variability between the clean-up activities that are currently being undertaken or planned and the ultimate actions that could be required. Therefore, considerable uncertainty exists with respect to environmental remediation costs and, under adverse changes in circumstances, management currently estimates the potential liabilities may range up to approximately $710 above the amount accrued at September 30, 2024. 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 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 manufacturers to conduct testing pursuant to the Toxic Substances Control Act (“TSCA”) section 4. Chemours has received various test orders and has formed consortia to jointly manage compliance with the test order requirements. Chemours expects to receive future test orders, however the timing of the remaining test orders is not determinable at this time. The draft Effluent Limitations Guidelines for PFAS manufacturers as announced in the PFAS Strategic Roadmap is now expected to be proposed in the fourth quarter of 2024.

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, and the Third Circuit held argument on the petition in January 2024. In July 2024, the Third Circuit dismissed the Company’s petition for lack of subject matter jurisdiction, finding the health advisory was not a final agency action.

In March 2023, EPA proposed a national primary drinking water regulation ("NPDWR") to establish Maximum Contaminant Levels ("MCLs") 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 was subject to public comment until May 30, 2023, and on April 10, 2024 EPA issued its final rule, which included promulgating individual MCLs for PFOA and PFOS at 4ppt and individual MCLs for PFHxS, PFNA and HFPO-DA at 10ppt. In addition, EPA finalized a hazard index of 1 (unitless) as the MCL for any mixture of PFHxS, PFNA, HFPO-DA and PFBS. The final rule became effective 60 days from publication in the Federal Register and the compliance date for public water systems in the U.S. to meet the MCLs is five years from the publication date. In June 2024, Chemours, as well as other organizations including the American Water Works Association and the American Chemistry Council, filed petitions for review of the final rule in the U.S. Court of Appeals for the D.C. Circuit. The petitioners filed opening briefs in October 2024 and briefing will continue to March 2025. Also in April 2024, EPA issued a final rule designating PFOA and PFOS as hazardous substances under CERCLA, which has also been challenged in the same appeals court.

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 September 30, 2024 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 of challenges to them, the 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 incurred environmental remediation expenses of $15 and $42 for the three and nine months ended September 30, 2024, respectively, and $20 and $50 for the three and nine months ended September 30, 2023, respectively, of which $4 and $14 for the three and nine months ended September 30, 2024, respectively, and $4 and $18 for the three and nine months ended September 30, 2023, 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. Hexafluoropropylene oxide dimer acid ("HFPO Dimer Acid"), (sometimes referred to as “GenX” or “C3 Dimer Acid”) is manufactured at Fayetteville. The Company has operated the site since its Separation from EID in 2015.

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. In October 2020, the Addendum was approved by the North Carolina Superior Court for Bladen County.

The following table sets forth the on-site and off-site components of the Company’s accrued environmental remediation liabilities related to PFAS at Fayetteville at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
On-site remediation	$	192	$	208
Off-site groundwater remediation		164		175
Total Fayetteville environmental remediation	$	356	$	383

The following table sets forth the current and long-term components of the Company’s accrued environmental remediation liabilities related to PFAS at Fayetteville at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Current environmental remediation	$	67	$	76
Long-term environmental remediation		289		307
Total Fayetteville environmental remediation	$	356	$	383

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 2022, the Company submitted an interim drinking water plan and a separate assessment framework plan, which were subsequently updated and resubmitted, based on comments received from NC DEQ. In 2023, NC DEQ provided additional comments identifying additional actions regarding the groundwater assessment as well as the drinking water program, which the Company responded to.

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 September 30, 2024 and December 31, 2023, the Company had $164 and $147 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 September 30, 2024 and December 31, 2023, the Company had $22 and $28, 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 incremental 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, during and subsequent to the optimization period of the groundwater treatment system and following installation of the barrier wall.

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, which was completed in June 2023, followed by an engineers certification confirming that the barrier wall was constructed and documented to be in conformance with the approved design.

In September 2022, NC DEQ issued a permit for discharge of treated groundwater and surface water associated with the project. The permit 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 which has been completed and required no material modification to the system. Chemours has since dismissed its petition without prejudice pursuant to the agreement.

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 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. System enhancements completed or being implemented consist of a holding pond, installation of new ultra-filtration units and additional water pretreatment equipment which was substantially completed by the end of 2023.

Based on the CO, the Addendum, the CAP, and management’s plans, which are based on current regulations and technology, the Company has accrued $192 and $208 at September 30, 2024 and December 31, 2023, 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 permit compliance requirements, ongoing dialogue with NC DEQ and other stakeholders regarding the potential incremental remedies that are both economically and technologically feasible to achieve the CO and Addendum objectives, and estimated future cost and time period of OM&M. Further, the final cost of the on-site groundwater treatment system depends on water treatment requirements and estimated carbon usage. 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.

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.

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 is in discussions with EPA regarding PFAS-related allegations at its sites, including the February 2019 NOV, and management believes a loss is reasonably possible, but not estimable at this time.

Beginning in 2017, 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 four 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 2,600 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 October 2023, the court certified the property damages class action. 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; the matter is now stayed.

In addition to natural resource damages matter filed by the State of North Carolina (as discussed within the “PFAS” section of this “Note 18 – 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.

Also, 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. In July 2024, the court dismissed the claims for products liability, deceptive trade practices and public nuisance.

As of September, 2024, lawsuits were filed in the Eastern District of North Carolina on behalf of 59 individuals residing near Fayetteville against Chemours, EID, Corteva and DuPont alleging personal injury, property damages and deceptive trade practices related to the discharges from Fayetteville. The individuals seek compensatory damages, equitable relief, attorney fees and punitive damages. In December 2023 and January 2024, amended complaints were filed in each case dropping fraudulent transfer claims. In September 2024, the court dismissed claims for deceptive trade practices, public nuisance, negligence per se and trespass to chattels.

It is possible that additional litigation may be filed against the Company and/or EID concerning the Fayetteville 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 Environmental Matters

On October 31, 2024, we received a request from the Dutch ILT agency to amend our F-gas reporting for certain years to reflect HFCs produced and consumed or destroyed at the Dordrecht Works facility. The agency asserts that under Regulation (EU) 2024/573, which repealed and replaced Regulation 517/2014 in February 2024, such compounds are subject to the F-gas quota system. The Company is reviewing the assertion and believes it is not possible at this time to reasonably assess the outcome of this matter or to estimate the loss or range of loss, if any, as the matter is in its early stages with significant issues to be evaluated.

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 September 30, 2024 and December 31, 2023, respectively, with respect to this indemnification.

Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Recent Accounting Pronouncements

Note 2. Recent Accounting Pronouncements

Accounting Guidance Issued and Not Yet Adopted

Joint Venture Formations

In August 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-05, Business Combinations - Joint Venture Formations, which requires joint ventures to initially measure its assets and liabilities at fair value on the formation date. The guidance will be effective prospectively to all joint ventures formed on or after January 1, 2025, with early adoption permitted. The Company will adopt the guidance and apply the provisions of ASU 2023-05 to joint ventures formed on or after January 1, 2025.

Improvements to Reportable Segment Disclosures

In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which requires incremental disclosures related to a public entity's reportable segments, including the disclosure of significant segment expense categories and amounts for each reportable segment. The guidance will be effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted, and should be applied retrospectively to all prior periods presented in the financial statements. The Company will adopt the guidance and include the incremental disclosure requirements in its consolidated financial statements beginning in the year ending December 31, 2024.

Improvements to Income Tax Disclosures

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires enhanced disclosure around the effective tax rate reconciliation, along with incremental disclosure around income taxes paid and certain income statement-related disclosures. The guidance will be effective prospectively for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company plans to adopt the guidance and include required enhanced disclosures in its consolidated financial statements beginning in the year ending December 31, 2025.

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 21. 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 nine months ended September 30, 2024 and 2023.


	Net Investment Hedge			Cash Flow Hedge			Cumulative Translation Adjustment			Defined Benefit Plans			Total
Balance at January 1, 2024	$	—		$	(8	)	$	(174	)	$	(92	)	$	(274	)
Other comprehensive (loss) income		(8	)		(2	)		(71	)		2			(79	)
Balance at September 30, 2024	$	(8	)	$	(10	)	$	(245	)	$	(90	)	$	(353	)

Balance at January 1, 2023	$	19		$	6		$	(268	)	$	(100	)	$	(343	)
Other comprehensive income (loss)		10			(4	)		9			13			28
Balance at September 30, 2023	$	29		$	2		$	(259	)	$	(87	)	$	(315	)

Other Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Payables And Accruals [Abstract]

Schedule of Other Accrued Liabilities

The following table sets forth the components of the Company’s other accrued liabilities at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Accrued litigation (1)	$	114	$	713
Asset retirement obligations (2)		14		18
Income taxes		20		28
Customer rebates		65		78
Accrued interest		47		18
Operating lease liabilities		53		55
Miscellaneous (3)		134		148
Total other accrued liabilities	$	447	$	1,058

(1)

At September 30, 2024 and December 31, 2023, accrued litigation includes $68 for settlements with the State of Ohio and the State of Delaware. At September 30, 2024, accrued litigation also includes an accrual related to the Ohio MDL. At December 31, 2023, accrued litigation also includes $592 for the United States Public Water System Settlement. Refer to “Note 18 – Commitments and Contingent Liabilities" for further details.

(2)

Represents the current portion of asset retirement obligations (see “Note 17 – Other Liabilities”).

(3)

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

Background, Description of the Business, and Basis of Presentation - Narrative (Details) $ in Millions	3 Months Ended				9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Segment	Dec. 31, 2023 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of reportable segments \| Segment					3
Tax benefit	$ 2	$ 2	$ 4			$ 13
Restricted cash and restricted cash equivalents	20				$ 20	$ 604
Legal expenses	1				6
Selling, General and Administrative Expenses [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Tax benefit	$ 5				$ 20
Taiwan Manufacturing Facility [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Decommissioning inventory charges				$ 8
Decommissioning costs				$ 10

Investments in Affiliates

9 Months Ended

Sep. 30, 2024

Equity Method Investments And Joint Ventures [Abstract]

Investments in Affiliates

Note 12. Investments in Affiliates

The Company engages in transactions with its equity method investees in the ordinary course of business. Net sales to the Company’s equity method investees amounted to $30 and $95 for the three and nine months ended September 30, 2024, respectively, and $35 and $118 for the three and nine months ended September 30, 2023, respectively. Purchases from the Company’s equity method investees amounted to $88 and $217 for the three and nine months ended September 30, 2024, respectively and $52 and $169 for the three and nine months ended September 30, 2023, respectively. Dividends received from the equity method investees were $0 for both the three and nine months ended September 30, 2024, and $0 and $3 for the three and nine months ended September 30, 2023, respectively.

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

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Mar. 31, 2019

USD ($)

Lawsuit

Sep. 30, 2024

USD ($)

Lawsuit

Sep. 30, 2023

USD ($)

Sep. 30, 2024

USD ($)

Lawsuit

Owner

Sep. 30, 2023

USD ($)

Dec. 31, 2023

USD ($)

Oct. 31, 2020

Lawsuit

Sep. 30, 2020

Lawsuit

Environmental Remediation [Line Items]

Environmental remediation expense

$ 15

$ 20

$ 42

$ 50

Environmental Remediation Expense, before Recovery, Statement of Income or Comprehensive Income [Extensible Enumeration]

Restructuring Charges Asset Related And Other Charges

Civil penalty and investigative costs

$ 68

Accrual for environmental remediation activities

$ 567

567

590

Environmental liabilities indemnification maximum amount

Obligation related to indemnification

$ 0

Indemnification expiration period

2026-12

Outstanding amount in escrow account

$ 50

Off-site Replacement Drinking Water Supplies [Member]

Environmental Remediation [Line Items]

Accrued for operation, maintenance, and monitoring period

20 years

Accrual for environmental remediation activities

164

$ 164

147

Disbursements period

20 years

Assessment And Sampling Drinking Water Supplies [Member]

Environmental Remediation [Line Items]

Accrual for environmental remediation activities

$ 22

On-site Surface Water and Groundwater Remediation [Member]

Environmental Remediation [Line Items]

Estimated cost of remediation

$ 192

208

OM&M projected paid period

20 years

PFAS Matters [Member]

Environmental Remediation [Line Items]

Civil penalty and investigative costs

$ 13

Number of lawsuits filed | Lawsuit

PFOA [Member]

Environmental Remediation [Line Items]

Number of lawsuits filed | Lawsuit

Compensatory and Punitive Damages [Member]

Environmental Remediation [Line Items]

Number of private well owners seeking for damages | Owner

2,600

Number of lawsuits filed | Lawsuit

Fayetteville Works, Fayetteville, North Carolina [Member]

Environmental Remediation [Line Items]

Environmental remediation expense

$ 4

$ 14

$ 18

Accrual for environmental remediation activities

^[1]

356

$ 356

$ 383

Fayetteville Works, Fayetteville, North Carolina [Member] | Groundwater Extraction And Treatment System [Member] | On-site Surface Water and Groundwater Remediation [Member]

Environmental Remediation [Line Items]

Accrued for operation, maintenance, and monitoring period

20 years

Estimated operation starting year

2023

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

Environmental Remediation [Line Items]

Percentage of efficiency to control PFAS

99.99%

Reduction of PFAS maximum period

2 years

Percentage of baseline

75.00%

Minimum [Member]

Environmental Remediation [Line Items]

Average time frame of disbursements of environmental site remediation

15 years

Maximum [Member]

Environmental Remediation [Line Items]

Average time frame of disbursements of environmental site remediation

20 years

Loss contingency, potential additional loss

$ 710

[1]	For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 18 – Commitments and Contingent Liabilities”.

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

9 Months Ended

Sep. 30, 2024

$ / shares

Employee Stock Option

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

Risk-free interest rate

4.45%

Expected term (years)

6 years

Volatility

49.02%

Dividend yield

3.64%

Fair value per stock option

$ 10.28

Performance Stock Option [Member]

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

Risk-free interest rate

4.43%

Expected term (years)

6 years 1 month 2 days

Volatility

48.91%

Dividend yield

3.64%

Fair value per stock option

$ 10.05

^[1]

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

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Interim Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (27)	$ 12	$ 94	$ (219)
Hedging activities:
Unrealized (loss) gain on net investment hedge, pre-tax	(38)	35	(11)	13
Unrealized (loss) gain on net investment hedge, tax	9	(8)	3	(3)
Unrealized (loss) gain on net investment hedge, after-tax	(29)	27	(8)	10
Unrealized (loss) gain on cash flow hedge, pre-tax	(12)	7		5
Unrealized (loss) gain on cash flow hedge, tax	3	(1)		(1)
Unrealized (loss) gain on cash flow hedge, after-tax	(9)	6		4
Reclassifications to net income - cash flow hedge, pre-tax	(1)	1	(3)	(9)
Reclassifications to net income - cash flow hedge, tax			1	1
Reclassifications to net income - cash flow hedge, after-tax	(1)	1	(2)	(8)
Hedging activities, net, pre-tax	(51)	43	(14)	9
Hedging activities, net, tax	12	(9)	4	(3)
Hedging activities, net, after-tax	(39)	34	(10)	6
Cumulative translation adjustment, pre-tax	36	(80)	(71)	9
Cumulative translation adjustment, after-tax	36	(80)	(71)	9
Defined benefit plans:
Net gain (loss), pre-tax	(2)	(1)	1	(1)
Net gain (loss), tax	1
Net gain (loss), after-tax	(1)	(1)	1	(1)
Curtailment gain, pre-tax		10		10
Curtailment gain, tax		(1)		(1)
Curtailment gain, after-tax		9		9
Effect of foreign exchange rates, pre-tax	(3)	4	(1)	2
Effect of foreign exchange rates, after-tax	(3)	4	(1)	2
Amortization of actuarial loss, pre-tax	2	3	6	7
Amortization of actuarial loss, tax		(1)	(1)	(2)
Amortization of actuarial loss, after-tax	2	2	5	5
Amortization of prior service gain, pre- tax		(1)	(1)	(2)
Amortization of prior service gain, after-tax		(1)	(1)	(2)
Settlement gain, pre-tax	(1)		(2)
Settlement gain, after-Tax	(1)		(2)
Defined benefit plans, net, pre-tax	(4)	15	3	16
Defined benefit plans, net, tax	1	(2)	(1)	(3)
Defined benefit plans, net, after-tax	(3)	13	2	13
Other comprehensive income (loss), after-tax	(6)	(33)	(79)	28
Comprehensive income (loss), after-tax	(33)	(21)	15	(191)
Less: Comprehensive income attributable to non-controlling interests, after-tax				1
Comprehensive income (loss) attributable to Chemours, after-tax	$ (33)	$ (21)	$ 15	$ (192)

Commitments and Contingent Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Commitments And Contingencies Disclosure [Abstract]

Schedule of Components of Accrued Litigation

The following table sets forth the components of the Company’s accrued litigation at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Asbestos	$	39	$	39
PFOA (1)		55		26
PFAS (2)		83		712
All other matters		24		9
Total accrued litigation	$	201	$	786

(1)

PFOA includes matters under the "PFOA" section within this “Note 18 – Commitments and Contingent Liabilities”.

(2)

PFAS includes matters under the "PFAS" section within this “Note 18 – Commitments and Contingent Liabilities”.

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

The following table sets forth the current and long-term components of the Company’s accrued litigation and their balance sheet locations at September 30, 2024 and December 31, 2023.


	Balance Sheet Location	September 30, 2024		December 31, 2023
Accrued Litigation:
Current accrued litigation	Other accrued liabilities (Note 15)	$	114	$	713
Long-term accrued litigation	Other liabilities (Note 17)		87		73
Total accrued litigation		$	201	$	786

Schedule of Environmental Remediation Liabilities


	September 30, 2024		December 31, 2023
Chambers Works, Deepwater, New Jersey	$	31	$	30
Fayetteville Works, Fayetteville, North Carolina (1)		356		383
Pompton Lakes, New Jersey		41		41
USS Lead, East Chicago, Indiana		—		12
Washington Works, West Virginia		26		22
All other sites		113		102
Total environmental remediation	$	567	$	590

(1)

For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 18 – 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 September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Current environmental remediation	$	119	$	129
Long-term environmental remediation		448		461
Total environmental remediation	$	567	$	590

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


	September 30, 2024		December 31, 2023
On-site remediation	$	192	$	208
Off-site groundwater remediation		164		175
Total Fayetteville environmental remediation	$	356	$	383

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


	September 30, 2024		December 31, 2023
Current environmental remediation	$	67	$	76
Long-term environmental remediation		289		307
Total Fayetteville environmental remediation	$	356	$	383

Interim Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 596	$ 1,203
Restricted cash and restricted cash equivalents	20	604
Accounts and notes receivable, net	951	610
Inventories	1,438	1,352
Prepaid expenses and other	75	66
Total current assets	3,080	3,835
Property, plant, and equipment	9,545	9,412
Less: Accumulated depreciation	(6,372)	(6,196)
Property, plant, and equipment, net	3,173	3,216
Operating lease right-of-use assets	254	260
Goodwill	46	102
Other intangible assets, net	3	3
Investments in affiliates	190	158
Restricted cash and restricted cash equivalents	50
Other assets	667	677
Total assets	7,463	8,251
Current liabilities:
Accounts payable	1,069	1,159
Compensation and other employee-related cost	89	89
Short-term and current maturities of long-term debt	53	51
Current environmental remediation	119	129
Other accrued liabilities	447	1,058
Total current liabilities	1,777	2,486
Long-term debt, net	3,988	3,987
Operating lease liabilities	196	206
Long-term environmental remediation	448	461
Deferred income taxes	41	44
Other liabilities	354	328
Total liabilities	6,804	7,512
Commitments and contingent liabilities
Equity
Common stock (par value $0.01 per share; 810,000,000 shares authorized; 198,282,108 shares issued and 149,392,660 shares outstanding at September 30, 2024; 197,519,784 shares issued and 148,587,397 shares outstanding at December 31, 2023)	2	2
Treasury stock, at cost (48,889,448 shares at September 30, 2024 and 48,932,387 at December 31, 2023)	(1,805)	(1,806)
Additional paid-in capital	1,050	1,033
Retained earnings	1,763	1,782
Accumulated other comprehensive loss	(353)	(274)
Total Chemours stockholders’ equity	657	737
Non-controlling interests	2	2
Total equity	659	739
Total liabilities and equity	$ 7,463	$ 8,251

Accounts Payable (Tables)

9 Months Ended

Sep. 30, 2024

Payables And Accruals [Abstract]

Schedule of Accounts Payable

The following table sets forth the components of the Company’s accounts payable at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Trade payables	$	1,037	$	1,134
VAT and other payables		32		25
Total accounts payable	$	1,069	$	1,159

Financial Instruments

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

Note 22. 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 September 30, 2024, the Company had 9 foreign currency forward contracts outstanding with an aggregate gross notional U.S. dollar equivalent of $153, and an average maturity of one month. At December 31, 2023, the Company had 12 foreign currency forward contracts outstanding with an aggregate gross notional U.S. dollar equivalent of $252, and an average maturity of one months. Chemours recognized a net gain of $1 and a net loss of $5 for the three and nine months ended September 30, 2024, respectively, and net losses of $1 and $8 for the three and nine months ended September 30, 2023, respectively, in other income, net.

Cash Flow Hedge – Foreign Currency Forward Contracts

At September 30, 2024, the Company had 182 foreign currency forward contracts outstanding under its cash flow hedge program with an aggregate notional U.S. dollar equivalent of $214, and an average maturity of four months. At December 31, 2023, the Company had 176 foreign currency forward contracts outstanding under its cash flow hedge program with an aggregate notional U.S. dollar equivalent of $203, and an average maturity of four months. Chemours recognized a pre-tax loss of $6 and a pre-tax gain of less than $1 for the three and nine months ended September 30, 2024, respectively, and pre-tax gains of $7 and $5 for the three and nine months ended September 30, 2023, respectively, within accumulated other comprehensive loss. For the three and nine months ended September 30, 2024, $1 and $2 of gain was reclassified to the cost of goods sold from accumulated other comprehensive loss, respectively. For the three and nine months ended September 30, 2023, $1 of loss and $5 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

At September 30, 2024 and December 31, 2023, the Company had two interest rate swaps outstanding under its cash flow program with an aggregate notional U.S. dollar equivalent of $300; each of the interest rate swaps mature on October 31, 2026. Chemours recognized pre-tax losses of $6 and less than $1 for the three and nine months ended September 30, 2024 within accumulated other comprehensive loss, respectively. No pre-tax gains or losses were recognized within accumulated other comprehensive loss for the three and nine months ended September 30, 2023. For the three and nine months ended September 30, 2024, less than $1 and $1 of gain was reclassified to interest expense, net from accumulated other comprehensive loss, respectively. For the three and nine months ended September 30, 2023, $0 and $4 of gain was reclassified to interest expense, net from accumulated other comprehensive loss, respectively.

The Company expects to reclassify approximately $3 of net pre-tax loss from accumulated other comprehensive loss to interest expense, net over the next 12 months, based on the current market rate.

Net Investment Hedge – Foreign Currency Borrowings

The Company recognized pre-tax losses of $38 and $11 for the three and nine months ended September 30, 2024, respectively, and pre-tax gains of $35 and $13 for the three and nine months ended September 30, 2023, respectively on its net investment hedge within accumulated other comprehensive loss. No amounts were reclassified from accumulated other comprehensive loss for the Company’s net investment hedges during the three and nine months ended September 30, 2024 and 2023.

Fair Value of Derivative Instruments

The following table sets forth the fair value of the Company’s derivative assets and liabilities at September 30, 2024 and December 31, 2023.


		Fair Value Using Level 2 Inputs
	Balance Sheet Location	September 30, 2024		December 31, 2023
Asset derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Accounts and notes receivable, net (Note 8)	$	—	$	1
Foreign currency forward contracts designated as a cash flow hedge	Accounts and notes receivable, net (Note 8)		—		1
Total asset derivatives		$	—	$	2

Liability derivatives:
Foreign currency forward contracts not designated as a hedging instrument	Other accrued liabilities (Note 15)	$	—	$	1
Foreign currency forward contracts designated as a cash flow hedge	Other accrued liabilities (Note 15)		3		3
Interest rate swaps designated as a cash flow hedge	Other accrued liabilities (Note 15)		8		7
Total liability derivatives		$	11	$	11

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 and nine months ended September 30, 2024 and 2023.


	Gain (Loss) Recognized In
									Accumulated
									Other
	Cost of			Interest		Other			Comprehensive
Three Months Ended September 30,	Goods Sold			Expense, Net		Income, Net			Loss
2024
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—	$	1		$	—
Foreign currency forward contracts designated as a cash flow hedge		1			—		—			(6	)
Interest rate swaps designated as a cash flow hedge		—			—		—			(6	)
Euro-denominated debt designated as a net investment hedge		—			—		—			(38	)

2023
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—	$	(1	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		(1	)		—		—			7
Euro-denominated debt designated as a net investment hedge		—			—		—			35




	Gain (Loss) Recognized In
									Accumulated
									Other
	Cost of			Interest		Other			Comprehensive
Nine Months Ended September 30,	Goods Sold			Expense, Net		Income, Net			Loss
2024
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—	$	(5	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		2			—		—			—
Interest rate swaps designated as a cash flow hedge		—			1		—			—
Euro-denominated debt designated as a net investment hedge		—			—		—			(11	)

2023
Foreign currency forward contracts not designated as a hedging instrument	$	—		$	—	$	(8	)	$	—
Foreign currency forward contracts designated as a cash flow hedge		5			—		—			5
Interest rate swaps designated as a cash flow hedge		—			4		—			—
Euro-denominated debt designated as a net investment hedge		—			—		—			13

Acquisitions and Divestitures - Narrative (Details) - Glycolic Acid Business [Member] - USD ($) $ in Millions	Aug. 01, 2023	Jun. 30, 2023
Acquisitions And Divestitures [Line Items]
Sale of business, purchase price consideration in cash		$ 137
Cash proceeds received	$ 138
Gain (Loss) on Sale of Properties	$ 106

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

Sep. 30, 2024

Dec. 31, 2023

Loss Contingencies [Line Items]

Accrued litigation

$ 201

$ 786

Asbestos [Member]

Loss Contingencies [Line Items]

Accrued litigation

PFOA [Member]

Loss Contingencies [Line Items]

Accrued litigation

^[1]

PFAS [Member]

Loss Contingencies [Line Items]

Accrued litigation

^[2]

712

All Other Matters [Member]

Loss Contingencies [Line Items]

Accrued litigation

$ 24

$ 9

[1]	PFOA includes matters under the "PFOA" section within this “Note 18 – Commitments and Contingent Liabilities”.
[2]	PFAS includes matters under the "PFAS" section within this “Note 18 – Commitments and Contingent Liabilities”

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Background, Description of the Business, and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2024

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

Revised Interim Consolidated Statements of Operations


		Three months ended September 30, 2023
		As reported			Revision				As revised
Cost of goods sold	$		1,206	$		8		$		1,214
Gross profit	$		281	$		(8	)	$		273
Restructuring, asset-related, and other charges	$		124	$		2		$		126
Total other operating expenses	$		317	$		2		$		319
Income (loss) before income taxes	$		23	$		(10	)	$		13
Provision for (benefit from) income taxes	$		3	$		(2	)	$		1
Net income (loss)	$		20	$		(8	)	$		12
Net income (loss) attributable to Chemours	$		20	$		(8	)	$		12
Per share data
Basic earnings (loss) per share of common stock	$		0.13	$		(0.05	)	$		0.08
Diluted earnings (loss) per share of common stock	$		0.13	$		(0.05	)	$		0.08


		Nine months ended September 30, 2023
		As reported				Revision				As revised
Cost of goods sold	$		3,607		$		8		$		3,615
Gross profit	$		1,059		$		(8	)	$		1,051
Restructuring, asset-related, and other charges	$		139		$		2		$		141
Total other operating expenses	$		1,288		$		2		$		1,290
Loss before income taxes	$		(237	)	$		(10	)	$		(247	)
Benefit from income taxes	$		(26	)	$		(2	)	$		(28	)
Net loss	$		(211	)	$		(8	)	$		(219	)
Net loss attributable to Chemours	$		(212	)	$		(8	)	$		(220	)
Per share data
Basic loss per share of common stock	$		(1.42	)	$		(0.05	)	$		(1.47	)
Diluted loss per share of common stock	$		(1.42	)	$		(0.05	)	$		(1.47	)

Revised Interim Consolidated Statements of Comprehensive (Loss) Income


		Three months ended September 30, 2023
		As reported				Revision				As revised
Net income (loss)	$		20		$		(8	)	$		12
Comprehensive loss	$		(13	)	$		(8	)	$		(21	)
Comprehensive loss attributable to Chemours	$		(13	)	$		(8	)	$		(21	)

		Nine months ended September 30, 2023
		As reported				Revision				As revised
Net loss	$		(211	)	$		(8	)	$		(219	)
Comprehensive loss	$		(183	)	$		(8	)	$		(191	)
Comprehensive loss attributable to Chemours	$		(184	)	$		(8	)	$		(192	)

Revised Interim Consolidated Statements of Cash Flows


	Nine months ended September 30, 2023
													As revised
	As reported			Revised			As revised			Reclassification			and reclassified
Net loss	$	(212	)	$	(8	)	$	(220	)	$	—		$	(220	)
Cash flows from operating activities:
(Decrease) increase in operating liabilities:
Deferred tax benefit	$	(135	)	$	(2	)	$	(137	)	$	—		$	(137	)
Accounts payable and other liabilities	$	313		$	12		$	325		$	(325	)	$	—
Accounts payable	$	—		$	—		$	—		$	(333	)	$	(333	)
Other current operating liabilities	$	—		$	—		$	—		$	660		$	660
Non-current operating liabilities	$	—		$	—		$	—		$	(2	)	$	(2	)
Cash used for operating activities	$	72		$	2		$	74		$	—		$	74

Cash flows from financing activities:
Proceeds from supplier financing programs	$	—		$	70		$	70		$	—		$	70
Payments to supplier financing program	$	—		$	(72	)	$	(72	)	$	—		$	(72	)
Cash (used for) provided by financing activities	$	179		$	(2	)	$	177		$	—		$	177

Debt - Components of Debt (Parenthetical) (Details) € in Millions, $ in Millions	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)
Senior Secured Tranche B-3 Euro Term Loan Due August 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 415	$ 462	€ 415	$ 457
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 441	$ 491	€ 441	$ 485
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%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Commitments and Contingent Liabilities - Litigation - Memorandum of Understanding (MOU) with DuPont, Corteva and EID (Details) $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended
	Jul. 31, 2024 USD ($)	Jan. 31, 2021 USD ($) Installment	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Sep. 06, 2023 USD ($)	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Aggregate amount of qualified spend		$ 4,000
Available amount after consideration of funding		$ 2,000
Escrow deposit			$ 50		$ 50		$ 0
Increase Decrease In Selling, General And Administrative Expense			23
Loss contingency settlement agreement amount	$ 45
Expect to receive amount of settlement	$ 23
Outstanding amount in escrow account			50		50
Restricted Cash and Restricted Cash Equivalents [Member] \| Water District Settlement Fund [Member]
Loss Contingencies [Line Items]
Escrow deposit								$ 592
Minimum Balance on December 31, 2028 [Member]
Loss Contingencies [Line Items]
Number of annual equal installments \| Installment		5
Chemours [Member]
Loss Contingencies [Line Items]
Expenditures subject to cost-sharing as qualified spend			26	$ 35	75	$ 112
Memorandum of Understanding [Member]
Loss Contingencies [Line Items]
Aggregate amount of qualified spend		$ 4,000
Escrow deposit			$ 50		$ 50
Memorandum of Understanding [Member] \| PFAS Liabilities [Member] \| Restricted Cash and Restricted Cash Equivalents [Member]
Loss Contingencies [Line Items]
Escrow deposit									$ 100
Memorandum of Understanding [Member] \| Minimum Balance on December 31, 2028 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit		700
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
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
Memorandum of Understanding [Member] \| Chemours [Member] \| Restricted Cash and Restricted Cash Equivalents [Member]
Loss Contingencies [Line Items]
Withdrawals from escrow account							$ 209
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] \| No Later Than Each of September 30, 2021 and September 30, 2022 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit		$ 100
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
Memorandum of Understanding [Member] \| DuPont and Corteva [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Percentage of escrow deposits contribution to restore escrow balance to 700		50.00%
Memorandum of Understanding [Member] \| DuPont and Corteva [Member] \| No Later Than Each of September 30, 2021 and September 30, 2022 [Member] \| PFAS Liabilities [Member]
Loss Contingencies [Line Items]
Escrow deposit		$ 100
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

Restructuring, Asset-Related, and Other Charges - Restructuring Program Schedule (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	$ 14
Charges to income	16
Payments	(14)
Restructuring reserve, ending	16
2024 Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Charges to income	18
Payments	(4)
Restructuring reserve, ending	14
Titanium Technologies Transformation Plan [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	10
Charges to income	(1)
Payments	(7)
Restructuring reserve, ending	2
2023 Restructuring Program [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	4
Charges to income	(1)
Payments	(3)
Restructuring reserve, ending	$ 0

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

Sep. 30, 2024

Dec. 31, 2023

Accrued Litigation:

Current accrued litigation

^[1]

$ 114

$ 713

Long-term accrued litigation

^[2]

Total accrued litigation

201

786

Other Accrued Liabilities [Member]

Accrued Litigation:

Current accrued litigation

114

713

Other Liabilities [Member]

Accrued Litigation:

Long-term accrued litigation

$ 87

$ 73

[1]

[2]

Represents the long-term portion of accrued litigation (see “Note 18 – Commitments and Contingent Liabilities”).

Other Liabilities - Schedule of Other Liabilities (Parenthetical) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Other Liabilities, Noncurrent [Abstract]
Asset retirement obligations	$ 93	$ 85
Asset retirement obligations incurred	10
Accrued indemnification liability	$ 27	$ 30

Earnings Per Share of Common Stock - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation	482,579			1,753,788
Stock Options and Performance Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation	3,047,186	1,325,972	2,028,213	1,305,941

Other Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Other Liabilities Disclosure [Abstract]

Schedule of Other Liabilities

The following table sets forth the components of the Company’s other liabilities at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Employee-related costs (1)	$	72	$	75
Accrued litigation (2)		87		73
Asset retirement obligations (3)		79		67
Miscellaneous (4)		116		113
Total other liabilities	$	354	$	328

(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 18 – Commitments and Contingent Liabilities”).

(3)

(4)

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Oct. 30, 2024
Cover [Abstract]
Entity Registrant Name	The Chemours Company
Entity Central Index Key	0001627223
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Type	10-Q
Trading Symbol	CC
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		149,410,506
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 - Litigation - Narrative (Details)
$ in Thousands

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Jul. 13, 2021

USD ($)

Jan. 31, 2024

OptOuts

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

Sep. 30, 2024

USD ($)

Lawsuit

Sep. 30, 2024

USD ($)

Lawsuit

Dec. 31, 2023

USD ($)

Lawsuit

Feb. 29, 2024

USD ($)

Lawsuit

Feb. 06, 2024

OptOuts

Nov. 28, 2023

USD ($)

Sep. 30, 2023

USD ($)

Jun. 01, 2023

USD ($)

Oct. 31, 2020

Lawsuit

Sep. 30, 2020

Lawsuit

Loss Contingencies [Line Items]

Accrual balance

$ 201,000

$ 786,000

Incurred indemnification costs

1,000

Loss contingency accrual period decrease

$ 250

Settlement paid

68,000

Contribution to settlement fund

592,000

$ 592,000

Number Of Opt-Outs Received From Listed Pontential Class Members | OptOuts | OptOuts

1,000

Number of listed pontential class members | OptOuts | OptOuts

14,167

Number of opt-outs additionally received from non listed pontential class members | OptOuts | OptOuts

300

Litigation Reserve Current

^[1]

114,000

$ 114,000

$ 713,000

Sounth Carolina [Member]

Loss Contingencies [Line Items]

Number Of Opt-Outs Entities | OptOuts

US [Member]

Loss Contingencies [Line Items]

Number Of Opt-Outs Entities | OptOuts

First MDL Settlement [Member]

Loss Contingencies [Line Items]

Date of agreement month and year

2017-03

Total settlement amount

$ 670,700

PFOA After First MDL Settlement [Member]

Loss Contingencies [Line Items]

Number of individual plaintiffs | Plaintiff

PFOA Second MDL Settlement [Member]

Loss Contingencies [Line Items]

Total settlement amount

$ 83,000

Judicial Panel on Multi-District Litigation [Member]

Loss Contingencies [Line Items]

Accrual balance

$ 29,000

Benzene Related Illness [Member]

Loss Contingencies [Line Items]

Lawsuits alleging illness | Lawsuit

PFOA Matters [Member]

Loss Contingencies [Line Items]

Accrual balance

$ 55,000

$ 26,000

Number of lawsuits filed | Lawsuit

PFOA Matters: Drinking Water Actions [Member] | Leach settlement [Member]

Loss Contingencies [Line Items]

Accrual balance

$ 26,000

26,000

PFOA Matters: Additional Actions [Member]

Loss Contingencies [Line Items]

Lawsuits alleging personal injury - Filed | Lawsuit

3,500

Compensatory and Emotional Distress Damages [Member]

Loss Contingencies [Line Items]

Loss contingency damages awarded value

$ 40,000

Consortium Damages [Member]

Loss Contingencies [Line Items]

Loss contingency damages awarded value

$ 10,000

EID [Member]

Loss Contingencies [Line Items]

Lawsuits alleging illness | Lawsuit

EID [Member] | Business Seeking to Recover Losses [Member]

Loss Contingencies [Line Items]

Lawsuits alleging illness | Lawsuit

Chemours and EID [Member] | New York [Member]

Loss Contingencies [Line Items]

Lawsuits alleging illness | Lawsuit

Number of agreed lawsuits for resolve | Lawsuit

Loss contingency pending claims amount

$ 400

PFAS Contamination, Including PFOA and PFOS [Member] | New Jersey [Member]

Loss Contingencies [Line Items]

Number of lawsuits filed | Lawsuit

PFAS and Other Chemicals Exposure [Member] | New Jersey [Member]

Loss Contingencies [Line Items]

Number of lawsuits filed | Lawsuit

Compensatory and Punitive Damages [Member]

Loss Contingencies [Line Items]

Number of lawsuits filed | Lawsuit

Compensatory and Punitive Damages [Member] | New Jersey [Member]

Loss Contingencies [Line Items]

Number of lawsuits filed | Lawsuit

Allegations of Personal Injury [Member] | New Jersey [Member]

Loss Contingencies [Line Items]

Number of lawsuits filed | Lawsuit

PFAS Matters [Member]

Loss Contingencies [Line Items]

Settlement paid

$ 13,000

Number of lawsuits filed | Lawsuit

Demanding amount to cover the cost of preparation of natural resource damage assessment plan and access to related documents

$ 100

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

Chemours [Member] | PFOA Second MDL Settlement [Member]

Loss Contingencies [Line Items]

Total settlement amount

$ 29,000

Chemours [Member] | PFAS Natural Resource Damages Matters [Member] | State of Delaware [Member]

Loss Contingencies [Line Items]

Settlement payments

13,000

$ 13,000

Chemours, DuPont, Corteva [Member] | Water District Settlement Fund [Member]

Loss Contingencies [Line Items]

Contribution to settlement fund

$ 1,185,000

DuPont | PFOA Second MDL Settlement [Member]

Loss Contingencies [Line Items]

Total settlement amount

27,000

Corteva | PFOA Second MDL Settlement [Member]

Loss Contingencies [Line Items]

Total settlement amount

$ 27,000

Chemours, DuPont, Corteva, EID [Member] | PFAS Natural Resource Damages Matters [Member] | State of Delaware [Member]

Loss Contingencies [Line Items]

Settlement paid

50,000

Maximum [Member]

Loss Contingencies [Line Items]

Incurred indemnification costs

$ 1,000

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

Minimum [Member] | Chemours, DuPont, Corteva, EID [Member] | PFAS Natural Resource Damages Matters [Member] | Another State [Member]

Loss Contingencies [Line Items]

Settlement payments

$ 50,000

Memorandum of Understanding [Member] | Chemours [Member]

Loss Contingencies [Line Items]

Contribution rates

50.00%

Memorandum of Understanding [Member] | Chemours [Member] | Water District Settlement Fund [Member]

Loss Contingencies [Line Items]

Contribution rates

50.00%

Memorandum of Understanding [Member] | Chemours [Member] | PFAS Natural Resource Damages Matters [Member]

Loss Contingencies [Line Items]

Settlement paid

25,000

Contribution to settlement fund

$ 55,000

Memorandum of Understanding [Member] | DuPont and Corteva [Member]

Loss Contingencies [Line Items]

Contribution rates

50.00%

Memorandum of Understanding [Member] | DuPont and Corteva [Member] | PFAS Natural Resource Damages Matters [Member]

Loss Contingencies [Line Items]

Settlement paid

$ 25,000

[1]

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Total net periodic pension cost			$ (2)	$ (8)
Net (loss) gain	$ (2)	$ (1)	1	(1)
Amortization of actuarial loss	2	3	6	7
Amortization of prior service gain		(1)	(1)	(2)
Curtailment gain		10		10
Effect of foreign exchange rates	(3)	4	(1)	2
(Cost) benefit recognized in other comprehensive income	(4)	15	3	16
Pension Plan [Member] \| Foreign [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	(2)	(2)	(6)	(7)
Interest cost	(3)	(4)	(9)	(11)
Expected return on plan assets	6	5	16	15
Amortization of actuarial loss	(2)	(3)	(6)	(7)
Amortization of prior service gain		1	1	2
Settlement gain	1		2
Total net periodic pension cost		(3)	(2)	(8)
Net (loss) gain	(2)	(1)	1	(1)
Amortization of actuarial loss	2	3	6	7
Amortization of prior service gain		(1)	(1)	(2)
Recognition of settlement gain	(1)		(2)
Curtailment gain		10		10
Effect of foreign exchange rates	(3)	4	(1)	2
(Cost) benefit recognized in other comprehensive income	(4)	15	3	16
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$ (4)	$ 12	$ 1	$ 8

Debt - Senior Secured Credit Facilities - Narrative (Details) € in Millions, $ in Millions		3 Months Ended			9 Months Ended
	Aug. 18, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 EUR (€)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Debt instrument maturity date					Aug. 18, 2028
Secured Overnight Financing Rate ("SOFR") [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable rate					3.50%
Secured Overnight Financing Rate ("SOFR") [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable rate					0.50%
Base Rate [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable rate					2.50%
Senior Secured Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Proceeds from issuance of long-term debt				$ 367
Discount and bank fees on term loan				32
Debt instrument description					The Credit Agreement is subject to a springing maturity in the event that 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.
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
Long-term debt							$ 0	$ 0
Term loan repayments		$ 3			$ 8
Letters of credit outstanding							$ 49	$ 48
Commitment fee percentage					0.25%
Euro Term Loan [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity \| €						€ 415
Term loan repayments \| €			€ 333
Effective interest rates on senior secured term loan						7.30%	7.30%
Euro Term Loan [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Variable rate					0.00%
Euro Term Loan [Member] \| Euro Interbank Offered Rate [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable rate					4.00%
Dollar Term Loan [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity							$ 1,070
Effective interest rates on senior secured term loan						8.30%	8.30%
Dollar Term Loan [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Variable rate					0.00%
Dollar Term Loan [Member] \| Senior Secured Credit Facility [Member]
Line of Credit Facility [Line Items]
Term loan repayments				$ 764

Property, Plant, and Equipment, Net

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment, Net

Note 10. Property, Plant, and Equipment, Net

The following table sets forth the components of the Company’s property, plant, and equipment, net at September 30, 2024 and December 31, 2023.


	September 30, 2024			December 31, 2023
Equipment	$	7,855		$	7,652
Buildings		1,145			1,180
Construction-in-progress		420			450
Land		89			94
Mineral rights		36			36
Property, plant, and equipment		9,545			9,412
Less: Accumulated depreciation		(6,372	)		(6,196	)
Total property, plant, and equipment, net	$	3,173		$	3,216

Property, plant, and equipment, net included gross assets under finance leases of $97 and $100 at September 30, 2024 and December 31, 2023.

Depreciation expense amounted to $78 and $223 for the three and nine months ended September 30, 2024, respectively and $74 and $225 for the three and nine months ended September 30, 2023, respectively.

Other Income, Net - Components of Other (Expense) Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Leasing, contract services, and miscellaneous income	$ 4	$ 4	$ 5	$ 11
Royalty income	1	2	4	5
Gain on sales of assets and businesses, net	0	106	3	106
Exchange losses, net	0	(9)	(6)	(21)
Non-operating pension and other post-retirement employee benefit income (cost)	2	(1)	4	(1)
Total other (expense) income, net	$ 7	$ 102	$ 10	$ 100

Other Income, Net

9 Months Ended

Sep. 30, 2024

Other Income and Expenses [Abstract]

Other Income, Net

Note 6. Other Income, Net

The following table sets forth the components of the Company’s other income, net for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,					Nine Months Ended September 30,
	2024		2023			2024			2023
Leasing, contract services, and miscellaneous income	$	4	$	4		$	5		$	11
Royalty income (1)		1		2			4			5
Gain on sales of assets and businesses, net		—		106			3			106
Exchange losses, net (2)		—		(9	)		(6	)		(21	)
Non-operating pension and other post-retirement employee benefit income (cost) (3)		2		(1	)		4			(1	)
Total other income, net	$	7	$	102		$	10		$	100

(1)

Royalty income is primarily from technology licensing.

(2)

Exchange 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 (cost) represents the non-service component of net periodic pension income.

Other Assets

9 Months Ended

Sep. 30, 2024

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets

Note 13. Other Assets

The following table sets forth the components of the Company’s other assets at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Capitalized repair and maintenance costs	$	176	$	230
Pension assets (1)		69		57
Deferred income taxes		333		303
Miscellaneous (2)		89		87
Total other assets	$	667	$	677

(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.

Supplemental Cash Flow Information - Reconciliation of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Parenthetical) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Escrow Deposit	$ 50	$ 0
Insurance recoveries included in restricted cash and restricted cash equivalents, current	20
Memorandum of Understanding [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Escrow Deposit	$ 50

Financial Instruments - Narrative (Details)	3 Months Ended		9 Months Ended		12 Months Ended
Financial Instruments - Narrative (Details)	Sep. 30, 2024 USD ($) InterestRateSwap Contract	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) InterestRateSwap Contract	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) InterestRateSwap Contract
Designated as Hedging Instrument [Member] \| Net Investment Hedge [Member]
Derivative [Line Items]
Recognized gain (loss) on derivative, pre-tax	$ (38,000,000)	$ 35,000,000	$ (11,000,000)	$ 13,000,000
Reclassification on derivative, pre-tax	$ 0	0	$ 0	0
Foreign currency forward contracts [Member] \| Net Monetary Assets and Liabilities Hedge [Member]
Derivative [Line Items]
Number of forward exchange currency contracts \| Contract	9		9		12
Derivative notional value	$ 153,000,000		$ 153,000,000		$ 252,000,000
Average maturity period of derivative contract			1 month		1 month
Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Number of forward exchange currency contracts \| Contract	182		182		176
Derivative notional value	$ 214,000,000		$ 214,000,000		$ 203,000,000
Average maturity period of derivative contract			4 months		4 months
Recognized gains (losses) on derivative cash flow hedge, pre-tax	(6,000,000)	7,000,000	$ 1,000,000	5,000,000
Derivative cash flow hedge net pre-tax gain from accumulated other comprehensive loss to cost of goods sold to be reclassified with in twelve months			(3,000,000)
Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Net Monetary Assets and Liabilities Hedge [Member]
Derivative [Line Items]
Derivative gains (losses)	$ 1,000,000	$ (1,000,000)	$ (5,000,000)	$ (8,000,000)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Income (Expense), Net	Other Income (Expense), Net	Other Income (Expense), Net	Other Income (Expense), Net
Foreign currency forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cost of Goods Sold [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Gain (loss) reclassification on derivative cash flow hedge	$ 1,000,000	$ (1,000,000)	$ 2,000,000	$ 5,000,000
Interest Rate Swaps [Member] \| Interest Expense, Net [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Recognized gain (loss) on derivative, pre-tax			3,000,000
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Derivative notional value	300,000,000		$ 300,000,000		$ 300,000,000
Recognized gains (losses) on derivative cash flow hedge, pre-tax	$ (6,000,000)	0		0
Number of interest rate swaps \| InterestRateSwap	2		2		2
Interest rate swaps maturity date			Oct. 31, 2026
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedge [Member] \| Maximum [Member]
Derivative [Line Items]
Recognized gains (losses) on derivative cash flow hedge, pre-tax			$ (1,000,000)
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Interest Expense, Net [Member] \| Cash Flow Hedge [Member]
Derivative [Line Items]
Gain (loss) reclassification on derivative cash flow hedge	$ 1,000,000	$ 0	$ 1,000,000	$ 4,000,000

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory, Net [Abstract]
Finished products	$ 926	$ 770
Semi-finished products	272	255
Raw materials, stores, and supplies	622	709
Inventories before LIFO adjustment	1,820	1,734
Less: Adjustment of inventories to LIFO basis	(382)	(382)
Total inventories	$ 1,438	$ 1,352

Long-term Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2024

Retirement Benefits, Description [Abstract]

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 and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Service cost	$	(2	)	$	(2	)	$	(6	)	$	(7	)
Interest cost		(3	)		(4	)		(9	)		(11	)
Expected return on plan assets		6			5			16			15
Amortization of actuarial loss		(2	)		(3	)		(6	)		(7	)
Amortization of prior service gain		—			1			1			2
Settlement gain		1			—			2			—
Total net periodic pension cost	$	—		$	(3	)	$	(2	)	$	(8	)

Net (loss) gain	$	(2	)	$	(1	)	$	1		$	(1	)
Amortization of actuarial loss		2			3			6			7
Amortization of prior service gain		—			(1	)		(1	)		(2	)
Recognition of settlement gain		(1	)		—			(2	)		—
Curtailment gain		—			10			—			10
Effect of foreign exchange rates		(3	)		4			(1	)		2
(Cost) benefit recognized in other comprehensive income		(4	)		15			3			16
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$	(4	)	$	12		$	1		$	8

Net Sales - Narrative (Details) $ in Millions	9 Months Ended
Net Sales - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)
Disaggregation Of Revenue [Line Items]
Remaining performance obligations	$ 299
Revenue, practical expedient, financing component	true

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Interim Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders Equity [Abstract]
Dividends per share declared during period	$ 0.25	$ 0.25	$ 0.75	$ 0.75

Accounts and Notes Receivable, Net - Schedule of Accounts and Notes Receivable (Parenthetical) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable - trade, net	$ 825	$ 509
Allowance for doubtful accounts receivable	2	2
Trade Notes Receivable [Member]
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable - trade, net	$ 4	$ 1

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

Sep. 30, 2024

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Cash and cash equivalents

$ 596

$ 1,203

Restricted cash and restricted cash equivalents

^[1]

604

Cash, cash equivalents, restricted cash and restricted cash equivalents

$ 666

$ 1,807

$ 1,447

$ 1,304

[1]

Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Components of Debt

The following table sets forth the components of the Company’s debt at September 30, 2024 and December 31, 2023.


	September 30, 2024			December 31, 2023
Senior secured term loans:
Tranche B-3 U.S. dollar term loan due August 2028	$	1,059		$	1,067
Tranche B-3 euro term loan due August 2028 (€415 at September 30, 2024 and December 31, 2023)		462			457
Senior unsecured notes:
4.000% due May 2026 (€441 at September 30, 2024 and December 31, 2023)		491			485
5.375% due May 2027		495			495
5.750% due November 2028		783			783
4.625% due November 2029		620			620
Finance lease liabilities		49			58
Financing obligation (1)		90			92
Supplier financing obligation (2)		13			27
Other		16			—
Total debt principal		4,078			4,084
Less: Unamortized issue discounts		(20	)		(25	)
Less: Unamortized debt issuance costs		(17	)		(21	)
Less: Short-term and current maturities of long-term debt		(53	)		(51	)
Total long-term debt, net	$	3,988		$	3,987

(1)

At September 30, 2024 and December 31, 2023, 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”).

(2)

At September 30, 2024 and December 31, 2023, supplier financing obligation relates to a supplier financing program whose obligations, based on their characteristics, are classified within short-term debt and current maturities of long-term debt. Refer to "Note 14 – Accounts Payable" for further details.

Schedule of Debt Principal Maturities

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


	Senior Debt		Finance Lease Liabilities			Financing Obligation			Supplier Financing Obligation		Other		Total
Remainder of 2024	$	3	$	3		$	2		$	13	$	5	$	26
2025		11		14			7			—		11		43
2026		502		11			7			—		—		520
2027		505		9			7			—		—		521
2028		2,269		9			7			—		—		2,285
Thereafter		620		8			129			—		—		757
Total payments		3,910		54			159			13		16		4,152
Less: Imputed interest		—		(5	)		(69	)		—		—		(74	)
Total principal maturities on debt	$	3,910	$	49		$	90		$	13	$	16	$	4,078

Estimated Fair Values of Senior Debt Issues

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


	September 30, 2024					December 31, 2023
	Carrying Value			Fair Value		Carrying Value			Fair Value
Senior secured term loans:
Tranche B-3 U.S. dollar term loan due August 2028	$	1,059		$	1,061	$	1,067		$	1,068
Tranche B-3 euro term loan due August 2028 (€415 at September 30, 2024 and December 31, 2023)		462			463		457			451
Senior unsecured notes:
4.000% due May 2026 (€441 at September 30, 2024 and December 31, 2023)		491			488		485			480
5.375% due May 2027		495			485		495			485
5.750% due November 2028		783			745		783			745
4.625% due November 2029		620			557		620			547
Other		16			—		—			—
Total senior debt principal		3,926		$	3,799		3,907		$	3,776
Less: Unamortized issue discounts		(20	)				(25	)
Less: Unamortized debt issuance costs		(17	)				(21	)
Total senior debt, net	$	3,889				$	3,861

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 505
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-Section 50
-Paragraph 3
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
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-Section 50
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2024

Supplemental Cash Flow Elements [Abstract]

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


	September 30, 2024		December 31, 2023
Cash and cash equivalents	$	596	$	1,203
Restricted cash and restricted cash equivalents (1)		70		604
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	666	$	1,807

(1)

Goodwill and Other Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table sets forth the changes in the carrying amount of the Company's goodwill by segment for the nine months ended September 30, 2024:


	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials			Other Segment		Total
Balance at December 31, 2023	$	33	$	13	$	56		$	—	$	102
Goodwill impairment		—		—		(56	)		—		(56	)
Balance at September 30, 2024	$	33	$	13	$	—		$	—	$	46

Schedule of Other Intangible Assets

The following table sets forth the gross carrying amounts and accumulated amortization of the Company's other intangible assets by major class at September 30, 2024 and December 31, 2023.


	September 30, 2024							December 31, 2023
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Allowance units (1)	$	8	$	(5	)	$	3	$	13	$	(10	)	$	3
Customer lists		2		(2	)		—		2		(2	)		—
Customer relationships		22		(22	)		—		22		(22	)		—
Patents		13		(13	)		—		13		(13	)		—
Purchased and licensed technology		3		(3	)		—		3		(3	)		—
Other		6		(6	)		—		10		(10	)		—
Total other intangible assets	$	54	$	(51	)	$	3	$	63	$	(60	)	$	3

(1)

Allowance units represent rights purchased for the production and/or importation of regulated materials.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Recent Accounting Pronouncements (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Accounting Guidance Issued and Not Yet Adopted

Joint Venture Formations

Improvements to Reportable Segment Disclosures

Improvements to Income Tax Disclosures

Long-term Employee Benefits

9 Months Ended

Sep. 30, 2024

Retirement Benefits, Description [Abstract]

Long-term Employee Benefits

Note 23. 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 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 and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Service cost	$	(2	)	$	(2	)	$	(6	)	$	(7	)
Interest cost		(3	)		(4	)		(9	)		(11	)
Expected return on plan assets		6			5			16			15
Amortization of actuarial loss		(2	)		(3	)		(6	)		(7	)
Amortization of prior service gain		—			1			1			2
Settlement gain		1			—			2			—
Total net periodic pension cost	$	—		$	(3	)	$	(2	)	$	(8	)

Net (loss) gain	$	(2	)	$	(1	)	$	1		$	(1	)
Amortization of actuarial loss		2			3			6			7
Amortization of prior service gain		—			(1	)		(1	)		(2	)
Recognition of settlement gain		(1	)		—			(2	)		—
Curtailment gain		—			10			—			10
Effect of foreign exchange rates		(3	)		4			(1	)		2
(Cost) benefit recognized in other comprehensive income		(4	)		15			3			16
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$	(4	)	$	12		$	1		$	8

The Company made cash contributions of $2 and $9 to its defined benefit pension plans during both the three and nine months ended September 30, 2024 and 2023, respectively. The Company expects to make additional cash contributions of $1 to its defined benefit pension plans during the remainder of 2024.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Interim Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,501	$ 1,487	$ 4,388	$ 4,666
Cost of goods sold	1,215	1,214	3,510	3,615
Gross profit	286	273	878	1,051
Selling, general, and administrative expense	135	165	416	1,067
Research and development expense	29	28	83	82
Restructuring, asset-related, and other charges	45	126	52	141
Goodwill impairment charge	56		56
Total other operating expenses	265	319	607	1,290
Equity in earnings of affiliates	11	13	34	38
Interest expense, net	(69)	(55)	(197)	(145)
Loss on extinguishment of debt		(1)		(1)
Other income, net	7	102	10	100
(Loss) income before income taxes	(30)	13	118	(247)
(Benefit from) provision for income taxes	(3)	1	24	(28)
Net (loss) income	(27)	12	94	(219)
Less: Net income attributable to non-controlling interests				1
Net (loss) income attributable to Chemours	$ (27)	$ 12	$ 94	$ (220)
Per share data
Basic (loss) earnings per share of common stock	$ (0.18)	$ 0.08	$ 0.63	$ (1.47)
Diluted (loss) earnings per share of common stock	$ (0.18)	$ 0.08	$ 0.63	$ (1.47)

Inventories (Tables)

9 Months Ended

Sep. 30, 2024

Inventory, Net [Abstract]

Schedule of Inventories

The following table sets forth the components of the Company’s inventories at September 30, 2024 and December 31, 2023.


	September 30, 2024			December 31, 2023
Finished products	$	926		$	770
Semi-finished products		272			255
Raw materials, stores, and supplies		622			709
Inventories before LIFO adjustment		1,820			1,734
Less: Adjustment of inventories to LIFO basis		(382	)		(382	)
Total inventories	$	1,438		$	1,352

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Parenthetical) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Payables And Accruals [Abstract]
Accrued litigation		$ 592	$ 592
Settlement paid	$ 68	$ 68

Commitments and Contingent Liabilities - Schedule of Current and Long-term Components of Environmental Remediation Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Commitments And Contingencies Disclosure [Abstract]
Current environmental remediation	$ 119	$ 129
Long-term environmental remediation	448	461
Total environmental remediation	$ 567	$ 590

Net Sales (Tables)

9 Months Ended

Sep. 30, 2024

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 and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net sales by geographic region (1)
North America:
Thermal & Specialized Solutions	$	248	$	250	$	816	$	843
Titanium Technologies		270		273		789		812
Advanced Performance Materials		125		126		375		424
Other Segment		9		11		27		51
Total North America		652		660		2,007		2,130
Asia Pacific:
Thermal & Specialized Solutions		55		42		147		151
Titanium Technologies		178		186		495		513
Advanced Performance Materials		138		133		370		423
Other Segment		3		3		8		10
Total Asia Pacific		374		364		1,020		1,097
Europe, the Middle East, and Africa:
Thermal & Specialized Solutions		98		85		293		291
Titanium Technologies		126		123		381		403
Advanced Performance Materials		69		69		201		228
Other Segment		2		3		5		11
Total Europe, the Middle East, and Africa		295		280		880		933
Latin America (2):
Thermal & Specialized Solutions		59		59		166		160
Titanium Technologies		105		108		275		301
Advanced Performance Materials		16		15		39		43
Other Segment		—		1		1		2
Total Latin America		180		183		481		506
Total net sales	$	1,501	$	1,487	$	4,388	$	4,666

(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 and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net sales by product group and segment
OpteonTM refrigerants	$	205	$	170	$	631	$	565
FreonTM refrigerants		146		170		493		581
Foam, propellants, and other		109		96		298		299
Total Thermal & Specialized Solutions		460		436		1,422		1,445
Titanium dioxide and other minerals		679		690		1,940		2,029
Total Titanium Technologies		679		690		1,940		2,029
Advanced materials		208		214		600		705
Performance solutions		140		129		385		413
Total Advanced Performance Materials		348		343		985		1,118
Performance chemicals and intermediates		14		18		41		74
Total Other Segment		14		18		41		74
Total net sales	$	1,501	$	1,487	$	4,388	$	4,666

Summary of Contract Balances from Contracts with Customers

The following table sets forth the Company’s contract balances from contracts with customers at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Contract assets:
Accounts receivable - trade, net (Note 8)	$	825	$	509
Contract liabilities:
Deferred revenue	$	12	$	16
Customer rebates (Note 15)		65		78

Property, Plant, and Equipment, Net - Summary of Property, Plant, and Equipment, Net (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Property, plant, and equipment	$ 9,545	$ 9,412
Less: Accumulated depreciation	(6,372)	(6,196)
Property, plant, and equipment, net	3,173	3,216
Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	7,855	7,652
Buildings [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	1,145	1,180
Construction-in-progress [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	420	450
Land [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	89	94
Mineral rights [Member]
Property Plant And Equipment [Line Items]
Property, plant, and equipment	$ 36	$ 36

Net Sales - Narrative (Details1)	Sep. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	10.00%
Remaining performance obligations original expected period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	37.00%
Remaining performance obligations original expected period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	27.00%
Remaining performance obligations original expected period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations as revenue	26.00%
Remaining performance obligations original expected period	1 year

Accounts Payable - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Supplier Financing Obligations [Line Items]
Outstanding payment obligations	$ 154	$ 197
Accounts Payable
Supplier Financing Obligations [Line Items]
Outstanding payment obligations	141	170
Short-Term Debt
Supplier Financing Obligations [Line Items]
Outstanding payment obligations	$ 13	$ 27

Other Assets (Tables)

9 Months Ended

Sep. 30, 2024

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Schedule of Other Assets

The following table sets forth the components of the Company’s other assets at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Capitalized repair and maintenance costs	$	176	$	230
Pension assets (1)		69		57
Deferred income taxes		333		303
Miscellaneous (2)		89		87
Total other assets	$	667	$	677

(1)

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

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

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

Sep. 30, 2024

Dec. 31, 2023

Environmental Remediation [Line Items]

Accrued environmental remediation

$ 567

$ 590

Current Liabilities [Member]

Environmental Remediation [Line Items]

Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]

Accrued Environmental Loss Contingencies Current

Non Current Liabilities [Member]

Environmental Remediation [Line Items]

Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]

Accrued Environmental Loss Contingencies Noncurrent

Chambers Works, Deepwater, New Jersey [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

$ 31

$ 30

Fayetteville Works, Fayetteville, North Carolina [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

^[1]

356

383

Pompton Lakes, New Jersey [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

USS Lead, East Chicago, Indiana [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

Washington Works, West Virginia [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

All other sites [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

$ 113

$ 102

[1]	For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 18 – Commitments and Contingent Liabilities”.

Debt - Schedule of Debt Principal Maturities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Finance Lease Liabilities
Remainder of 2024	$ 3
2025	14
2026	11
2027	9
2028	9
Thereafter	8
Total payments	54
Less: Imputed interest	(5)
Finance lease liabilities	49	$ 58
Financing Obligation
Remainder of 2024	2
2025	7
2026	7
2027	7
2028	7
Thereafter	129
Total payments	159
Less: Imputed interest	(69)
Financing obligation	90	92
Supplier Financing Obligation
Remainder of 2024	13
Total payments	13
Total principal maturities on debt	13
Other
Remainder of 2024	5
2025	11
Total payments	16
Other	16
Total
Remainder of 2024	26
2025	43
2026	520
2027	521
2028	2,285
Thereafter	757
Total payments	4,152
Less: Imputed interest	(74)
Total principal maturities on debt	4,078	$ 4,084
Senior Debt [Member]
Debt Instrument [Line Items]
Remainder of 2024	3
2025	11
2026	502
2027	505
2028	2,269
Thereafter	620
Total payments	3,910
Total principal maturities on debt	$ 3,910

Acquisition and Divestitures

9 Months Ended

Sep. 30, 2024

Business Combinations [Abstract]

Acquisitions and Divestitures

Note 3. Acquisitions and Divestitures

Divestitures

In June 2023, the Company entered into a definitive agreement with PureTech Scientific Inc. to sell the Company's Glycolic Acid business, included in the Company's Other Segment for cash consideration of approximately $137 (the "Glycolic Acid Transaction"). The Company completed the sale on August 1, 2023, and received net cash proceeds of $138. Upon completion of the Glycolic Acid Transaction, the Company also recorded a net pre-tax gain on sale of $106 in other income, net in the Consolidated Statements of Operations. Cash proceeds received were reflected in the "Cash flows from investing activities" section of the Consolidated Statements of Cash Flows.

Other Liabilities - Schedule of Other Liabilities (Details) - USD ($)
$ in Millions

Sep. 30, 2024

Dec. 31, 2023

Other Liabilities, Noncurrent [Abstract]

Employee-related costs

^[1]

$ 72

$ 75

Accrued litigation

^[2]

Asset retirement obligations

^[3]

Miscellaneous

^[4]

116

113

Total other liabilities

$ 354

$ 328

[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 18 – Commitments and Contingent Liabilities”).
[3]	Represents the long-term portion of asset retirement obligations, which totaled $93 and $85 when combined with the current portion at September 30, 2024 and December 31, 2023, respectively (see “Note 15 – Other Accrued Liabilities”). During the nine months ended September 30, 2024, the Company incurred $10 in asset retirement obligations. Reduction in estimated cash outflows, liabilities settled in the current period and accretion expense were not material during the nine months ended September 30, 2024.
[4]	Miscellaneous includes accrued indemnification liabilities of $27 and $30 at September 30, 2024 and December 31, 2023, respectively. Miscellaneous also includes long-term income tax liabilities from uncertain tax positions.

Goodwill and Other Intangible Assets, Net - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Number of operating segments \| Segment			4
Accumulated goodwill impairment losses	$ 56		$ 56		$ 0
Goodwill impairment charge	56		56
Amortization of intangible assets	1	$ 2	1	$ 8
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense, 2029	1		1
Amortization expense, 2028	1		1
Amortization expense, 2027	1		1
Amortization expense, 2026	1		1
Amortization expense, 2025	1		1
Amortization expense, Reminder of 2024	$ 1		$ 1
Useful life	20 years		20 years

Goodwill and Other Intangible Assets, Net - Schedule of Other Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Cost	$ 54	$ 63
Accumulated Amortization	(51)	(60)
Net	3	3
Allowance Units [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Cost	8	13
Accumulated Amortization	(5)	(10)
Net	3	3
Customer Lists [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Cost	2	2
Accumulated Amortization	(2)	(2)
Net	0	0
Customer Relationships [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Cost	22	22
Accumulated Amortization	(22)	(22)
Net	0	0
Patents [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Cost	13	13
Accumulated Amortization	(13)	(13)
Net	0	0
Purchased and Licensed Technology [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Cost	3	3
Accumulated Amortization	(3)	(3)
Net	0	0
Other [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Cost	6	10
Accumulated Amortization	(6)	(10)
Net	$ 0	$ 0

Equity (Tables)

9 Months Ended

Sep. 30, 2024

Stockholders Equity Note [Abstract]

Schedule of Share Repurchase Activity

The following table sets forth the Company’s share repurchase activity under the 2022 Share Repurchase Program for the three and nine months ended September 30, 2024 and 2023, respectively.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Total number of shares purchased		—		450,667		—		2,108,408
Total amount for shares purchased	$	—	$	17	$	—	$	69
Average price paid per share	$	—	$	37.60	$	—	$	32.48

Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

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.


	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials		Other Segment		Segment Total
Three Months Ended September 30, 2024
Net sales to external customers	$	460	$	679	$	348	$	14	$	1,501
Adjusted EBITDA		141		85		39		3
Depreciation and amortization		13		35		23		1		72

Three Months Ended September 30, 2023
Net sales to external customers	$	436	$	690	$	343	$	18	$	1,487
Adjusted EBITDA		162		69		68		2
Depreciation and amortization		15		34		21		1		71

	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials		Other Segment		Segment Total
Nine Months Ended September 30, 2024
Net sales to external customers	$	1,422	$	1,940	$	985	$	41	$	4,388
Adjusted EBITDA		453		235		113		8
Depreciation and amortization		39		99		66		3		207

Nine Months Ended September 30, 2023
Net sales to external customers	$	1,445	$	2,029	$	1,118	$	74	$	4,666
Adjusted EBITDA		561		226		233		18
Depreciation and amortization		47		101		64		5		217

Total Assets
September 30, 2024	$	1,539	$	2,303	$	1,829	$	94	$	5,765
December 31, 2023		1,283		2,226		1,833		96		5,438

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Thermal & Specialized Solutions	$	141		$	162		$	453		$	561
Titanium Technologies		85			69			235			226
Advanced Performance Materials		39			68			113			233
Other Segment		3			2			8			18
Segment Adjusted EBITDA		268			301			809			1,038
Corporate and Unallocated
Corporate expenses (1)		(57	)		(54	)		(187	)		(164	)
Unallocated Items:
Interest expense, net		(69	)		(55	)		(197	)		(145	)
Depreciation and amortization		(78	)		(76	)		(223	)		(233	)
Non-operating pension and other post-retirement employee benefit income (cost)		2			(1	)		4			(1	)
Exchange losses, net		—			(9	)		(6	)		(21	)
Restructuring, asset-related, and other charges (Note 5)		(43	)		(127	)		(51	)		(142	)
Goodwill impairment charge (Note 11)		(56	)		—			(56	)		—
Inventory write-offs (2)		—			(36	)		—			(36	)
Loss on extinguishment of debt		—			(1	)		—			(1	)
Gain on sales of assets and businesses, net (Note 3)		—			106			3			106
Transaction costs (3)		(3	)		(7	)		(15	)		(7	)
Qualified spend recovery (4)		7			11			22			43
Litigation-related charges (5)		(1	)		(31	)		15			(675	)
Environmental charges (6)		—			(8	)		—			(9	)
(Loss) income before income taxes	$	(30	)	$	13		$	118		$	(247	)

(1)

Includes corporate costs and certain legal and environmental expenses, and stock-based compensation expenses excluding unallocated items as listed above.

(2)

(3)

(4)

(5)

(6)

Debt - Other - Narrative (Details) - Financing Arrangement - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Debt Instrument [Line Items]
Annual insurance premiums funded amount	$ 21
Principal payments to financing company		$ 5
Remaining principal payments		$ 16

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Debt

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Debt

Note 16. Debt

The following table sets forth the components of the Company’s debt at September 30, 2024 and December 31, 2023.


	September 30, 2024			December 31, 2023
Senior secured term loans:
Tranche B-3 U.S. dollar term loan due August 2028	$	1,059		$	1,067
Tranche B-3 euro term loan due August 2028 (€415 at September 30, 2024 and December 31, 2023)		462			457
Senior unsecured notes:
4.000% due May 2026 (€441 at September 30, 2024 and December 31, 2023)		491			485
5.375% due May 2027		495			495
5.750% due November 2028		783			783
4.625% due November 2029		620			620
Finance lease liabilities		49			58
Financing obligation (1)		90			92
Supplier financing obligation (2)		13			27
Other		16			—
Total debt principal		4,078			4,084
Less: Unamortized issue discounts		(20	)		(25	)
Less: Unamortized debt issuance costs		(17	)		(21	)
Less: Short-term and current maturities of long-term debt		(53	)		(51	)
Total long-term debt, net	$	3,988		$	3,987

(1)

(2)

Senior Secured Credit Facilities

On August 18, 2023, the Company entered into an amendment and restatement credit agreement (the “Credit Agreement”) that provides for a $900 senior secured revolving credit facility (the “Revolving Credit Facility”) and five-year senior secured term loans (the "Senior Secured Term Loan Facility", collectively, the “Senior Secured Credit Facilities”). The Senior Secured Term Loan Facility provides for a Tranche B-3 class of term loans, denominated in U.S. dollars, in an aggregate principal amount of $1,070 (the “Dollar Term Loan”) and a class of Tranche B-3 class term loans, denominated in euros, in an aggregate principal amount of €415 (the “Euro Term Loan”) (collectively, the “Term Loans”). In connection with the refinancing activities that took place in the third quarter of 2023, the Company received proceeds of $367, net of original issue discount and bank fees of $32. The proceeds of the Term Loans were primarily used to prepay, in full, all outstanding amounts under the April 2018 Credit Agreement, which amounted to $764 for the dollar term loan and €333 for the euro term loan, fees and expenses related therewith, and to fund the Water District Settlement Fund per the terms of the U.S. public water system Settlement Agreement pending final approval (see "Note 18 – Commitments and Contingent Liabilities"). The Dollar Term Loan bears a variable interest rate equal to, at the election of the Company, adjusted Term Secured Overnight Financing Rate ("SOFR") plus 3.50%, subject to an adjusted SOFR floor of 0.50%, or adjusted base rate plus 2.50%, subject to a base rate floor of 0.0%. The Euro Term Loan bears a variable interest rate equal to adjusted Euro Interbank Offered Rate ("EURIBOR") plus 4.00%, subject to an adjusted EURIBOR floor of 0.0%. The Term Loans will mature on August 18, 2028, and are subject to acceleration in certain circumstances. The Credit Agreement is subject to a springing maturity in the event that the senior unsecured notes due in May 2026 are not redeemed, repaid, modified, and/or refinanced within the 91-day period prior to their maturity date.

No borrowings were outstanding under the Revolving Credit Facility at September 30, 2024 and December 31, 2023. The Company made term loan repayments under the Credit Agreement of $3 and $8 during the three and nine months ended September 30, 2024, respectively. Chemours also had $49 and $48 in letters of credit issued and outstanding under the Revolving Credit Facility at both September 30, 2024 and December 31, 2023, respectively. At September 30, 2024, the effective interest rates on the Dollar Term Loan and the Euro Term Loan were 8.3% and 7.3%, respectively. Also, at September 30, 2024, commitment fees on the Revolving Credit Facility were assessed at a rate of 0.25% 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 and March 23, 2023 (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.

Cash received from collections of sold receivables is used to fund additional purchases of receivables at 100% of face value on a revolving basis, not to exceed the facility limit, which is the aggregate purchase limit. During the three and nine months ended September 30, 2024, the Company received $365 and $1,053, respectively, of cash collections on receivables sold under the Amended Purchase Agreement, following which it sold and derecognized $375 and $1,091, respectively, of incremental accounts receivable. During the three and nine months ended September 30, 2023 , the Company received $398 and $1,079, respectively, of cash collections on receivables sold under the Amended Purchase Agreement, following which it sold and derecognized $372 and $1,079, 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 $110 and $87 at September 30, 2024 and December 31, 2023, respectively. The Company incurred $1 of fees associated with the Securitization Facility during both the three and nine months ended September 30, 2024 and 2023. Costs associated with the sales of receivables are reflected in the Company’s consolidated statements of operations for the periods in which the sales occur.

Other

During the quarter ended September 30, 2024, the Company entered into a financing arrangement, by which an external financing company funded certain of the Company's annual insurance premiums for $21. During the nine months ended September 30, 2024, the Company made principal payments of $5 to the financing company, and the remaining $16 is to be repaid within the next twelve months.

Maturities

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


	Senior Debt		Finance Lease Liabilities			Financing Obligation			Supplier Financing Obligation		Other		Total
Remainder of 2024	$	3	$	3		$	2		$	13	$	5	$	26
2025		11		14			7			—		11		43
2026		502		11			7			—		—		520
2027		505		9			7			—		—		521
2028		2,269		9			7			—		—		2,285
Thereafter		620		8			129			—		—		757
Total payments		3,910		54			159			13		16		4,152
Less: Imputed interest		—		(5	)		(69	)		—		—		(74	)
Total principal maturities on debt	$	3,910	$	49		$	90		$	13	$	16	$	4,078

The Company has required quarterly principal payments related to the Dollar Term Loan equivalent to 1.00% per annum through June 2028, 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 2024.

As of September 30, 2024, the first significant long-term debt outstanding which matures is the €441 ($491) senior unsecured notes due May 2026. It is the Company’s expectation that it will refinance this amount prior to maturity, though there can be no assurances that it will be able to complete this refinancing on attractive terms at a given point in time, or at all.

Debt Fair Value


	September 30, 2024					December 31, 2023
	Carrying Value			Fair Value		Carrying Value			Fair Value
Senior secured term loans:
Tranche B-3 U.S. dollar term loan due August 2028	$	1,059		$	1,061	$	1,067		$	1,068
Tranche B-3 euro term loan due August 2028 (€415 at September 30, 2024 and December 31, 2023)		462			463		457			451
Senior unsecured notes:
4.000% due May 2026 (€441 at September 30, 2024 and December 31, 2023)		491			488		485			480
5.375% due May 2027		495			485		495			485
5.750% due November 2028		783			745		783			745
4.625% due November 2029		620			557		620			547
Other		16			—		—			—
Total senior debt principal		3,926		$	3,799		3,907		$	3,776
Less: Unamortized issue discounts		(20	)				(25	)
Less: Unamortized debt issuance costs		(17	)				(21	)
Total senior debt, net	$	3,889				$	3,861

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Publisher FASB
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+ Details

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			$ 737
Other comprehensive income (loss)	$ (6)	$ (33)	(79)	$ 28
Ending Balance	657		657
Net Investment Hedge [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance				19
Other comprehensive income (loss)			(8)	10
Ending Balance	(8)	29	(8)	29
Cash Flow Hedge [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(8)	6
Other comprehensive income (loss)			(2)	(4)
Ending Balance	(10)	2	(10)	2
Currency Translation Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(174)	(268)
Other comprehensive income (loss)			(71)	9
Ending Balance	(245)	(259)	(245)	(259)
Defined Benefit Plans [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(92)	(100)
Other comprehensive income (loss)			2	13
Ending Balance	(90)	(87)	(90)	(87)
Accumulated Other Comprehensive (Loss) Income [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(274)	(343)
Other comprehensive income (loss)	(6)	(33)	(79)	28
Ending Balance	$ (353)	$ (315)	$ (353)	$ (315)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Segment Information - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
Segment Information - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment			3
Depreciation and amortization	$ 78	$ 76	$ 223	$ 233
Total assets	7,463		7,463		$ 8,251
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	6	$ 5	16	$ 16
Total assets	$ 1,698		$ 1,698		$ 2,813

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

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

9 Months Ended

Sep. 30, 2024

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 by segment for the three and nine months ended September 30, 2024 and 2023.


	Thermal & Specialized Solutions		Titanium Technologies			Advanced Performance Materials			Other Segment		Corporate		Total
Three Months Ended September 30, 2024
Employee separation charges
2024 Restructuring Program	$	—	$	—		$	13		$	—	$	5	$	18
Total employee separation charges		—		—			13			—		5		18
Decommissioning and other charges:
2024 Restructuring Program		—		—			3			—		—		3
Titanium Technologies Transformation Plan		—		(1	)		—			—		—		(1	)
Total decommissioning and other charges		—		(1	)		3			—		—		2
Total restructuring and other charges		—		(1	)		16			—		5		20
Asset-related charges:
2024 Restructuring Program		—		—			25			—		—		25
Total asset-related charges		—		—			25			—		—		25
Total restructuring, asset-related, and other charges	$	—	$	(1	)	$	41		$	—	$	5	$	45

	Thermal & Specialized Solutions		Titanium Technologies			Advanced Performance Materials			Other Segment		Corporate		Total
Nine Months Ended September 30, 2024
Employee separation charges:
2024 Restructuring Program	$	—	$	—		$	13		$	—	$	5	$	18
Titanium Technologies Transformation Plan				(1	)		—			—		—		(1	)
2023 Restructuring Program		—		—			(1	)		—		—		(1	)
Total employee separation charges		—		(1	)		12			—		5		16
Decommissioning and other charges:
2024 Restructuring Program		—		—			3			—		—		3
Titanium Technologies Transformation Plan		—		8			—			—		—		8
Total decommissioning and other charges		—		8			3			—		—		11
Total restructuring and other charges		—		7			15			—		5		27
Asset-related charges:
2024 Restructuring Program		—		—			25			—		—		25
Total asset-related charges		—		—			25			—		—		25
Total restructuring, asset-related, and other charges	$	—	$	7		$	40		$	—	$	5	$	52


	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials			Other Segment		Corporate			Total
Three Months Ended September 30, 2023
Employee separation charges:
Titanium Technologies Transformation Plan	$	—	$	20	$	—		$	—	$	—		$	20
2023 Restructuring Program		—		—		4			—		2			6
2022 Restructuring Program		—		—		—			—		(1	)		(1	)
Total employee separation charges		—		20		4			—		1			25
Decommissioning and other charges:
Titanium Technologies Transformation Plan		—		23		—			—		—			23
Total decommissioning and other charges		—		23		—			—		—			23
Total restructuring and other charges		—		43		4			—		1			48
Asset-related charges:
Titanium Technologies Transformation Plan		—		77		—			—		1			78
Total asset-related charges		—		77		—			—		1			78
Total restructuring, asset-related, and other charges	$	—	$	120	$	4		$	—	$	2		$	126

	Thermal & Specialized Solutions		Titanium Technologies		Advanced Performance Materials			Other Segment		Corporate			Total
Nine Months Ended September 30, 2023
Employee separation charges:
Titanium Technologies Transformation Plan	$	—	$	20	$	—		$	—	$	—		$	20
2023 Restructuring Program		—		—		4			—		2			6
2022 Restructuring Program		—		—		(1	)		—		(1	)		(2	)
ERP Implementation Charges		—		—		—			—		1			1
Total employee separation charges		—		20		3			—		2			25
Decommissioning and other charges:
Titanium Technologies Transformation Plan		—		23		—			—		—			23
ERP Implementation Charges		—		—		—			—		4			4
Total decommissioning and other charges		—		23		—			—		4			27
Total restructuring and other charges		—		43		3			—		6			52
Asset-related charges:
Titanium Technologies Transformation Plan		—		77		—			—		1			78
ERP Implementation Charges		—		—		—			—		11			11
Total asset-related charges		—		77		—			—		12			89
Total restructuring, asset-related, and other charges	$	—	$	120	$	3		$	—	$	18		$	141

Schedule of Restructuring Charges

The following table sets forth the change in the Company’s employee separation-related liabilities associated with its restructuring programs for the nine months ended September 30, 2024.


	2024 Restructuring Program			Titanium Technologies Transformation Plan			2023 Restructuring Program			Total
Balance at December 31, 2023	$	—		$	10		$	4		$	14
Charges to income		18			(1	)		(1	)		16
Payments		(4	)		(7	)		(3	)		(14	)
Balance at September 30, 2024	$	14		$	2		$	—		$	16

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Details) - USD ($)
$ in Millions

Sep. 30, 2024

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Accrued litigation

^[1]

$ 114

$ 713

Asset retirement obligations

^[2]

Income taxes

Customer rebates

Accrued interest

Operating lease liabilities

Miscellaneous

^[3]

134

148

Total other accrued liabilities

$ 447

$ 1,058

[1]	At September 30, 2024 and December 31, 2023, accrued litigation includes $68 for settlements with the State of Ohio and the State of Delaware. At September 30, 2024, accrued litigation also includes an accrual related to the Ohio MDL. At December 31, 2023, accrued litigation also includes $592 for the United States Public Water System Settlement. Refer to “Note 18 – Commitments and Contingent Liabilities" for further details.
[2]	Represents the current portion of asset retirement obligations (see “Note 17 – Other Liabilities”).
[3]	Miscellaneous primarily includes accruals related to utility expenses, property taxes, a workers compensation indemnification liability, and other miscellaneous expenses.

Other Income, Net (Tables)

9 Months Ended

Sep. 30, 2024

Other Income and Expenses [Abstract]

Components of Other Income, net

The following table sets forth the components of the Company’s other income, net for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,					Nine Months Ended September 30,
	2024		2023			2024			2023
Leasing, contract services, and miscellaneous income	$	4	$	4		$	5		$	11
Royalty income (1)		1		2			4			5
Gain on sales of assets and businesses, net		—		106			3			106
Exchange losses, net (2)		—		(9	)		(6	)		(21	)
Non-operating pension and other post-retirement employee benefit income (cost) (3)		2		(1	)		4			(1	)
Total other income, net	$	7	$	102		$	10		$	100

(1)

Royalty income is primarily from technology licensing.

(2)

Exchange 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 (cost) represents the non-service component of net periodic pension income.

Debt - Maturities and Fair Value - Narrative (Details) € in Millions, $ in Millions	Aug. 18, 2023	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt outstanding amount		€ 441	$ 491
Senior Secured Revolving Credit Facility [Member]
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	3.5
Target leverage ratio two	1
Long-term debt outstanding amount			$ 0	$ 0
Senior Secured Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Additional principal repayment, percentage of excess cash flows	50.00%

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net Income (Loss)	$ 94	$ (220)
Adjustments to reconcile net income to cash used for operating activities:
Depreciation and amortization	223	233
Gain on sales of assets and businesses	(3)	(106)
Equity in earnings of affiliates, net	(31)	(32)
Loss on extinguishment of debt		1
Amortization of debt issuance costs and issue discounts	9	6
Deferred tax benefit	(34)	(137)
Asset-related charges	25	89
Stock-based compensation expense	12	13
Net periodic pension cost	2	8
Defined benefit plan contributions	(9)	(9)
Other operating charges and credits, net	(9)	(15)
Goodwill impairment	56
Decrease (increase) in operating assets:
Accounts and notes receivable, net	(348)	(212)
Inventories and other current operating assets	(91)	71
Other non-current operating assets	48	59
(Decrease) increase in operating liabilities:
Accounts payable	(95)	(333)
Other current operating liabilities	(624)	660
Other non-current operating liabilities	4	(2)
Cash (used for) provided by operating activities	(771)	74
Cash flows from investing activities
Purchases of property, plant, and equipment	(251)	(235)
Proceeds from sales of assets and businesses	3	138
Foreign exchange contract settlements, net		(8)
Other investing activities	2	6
Cash used for investing activities	(246)	(99)
Cash flows from financing activities
Proceeds from Issuance of Debt		648
Debt repayments	(13)	(277)
Payments of debt issuance cost	0	(4)
Payments on finance leases	(9)	(8)
Proceeds from supplier financing program	67	70
Payments to supplier financing program	(80)	(72)
Purchases of treasury stock, at cost		(69)
Proceeds from exercised stock options, net	8	18
Payments related to tax withholdings on vested stock awards	(3)	(18)
Payments of dividends to the Company's common shareholders	(112)	(112)
Cash received from non-controlling interest shareholder		1
Other financing activities	21
Cash (used for) provided by financing activities	(121)	177
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(3)	(9)
(Decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents	(1,141)	143
Cash, cash equivalents, restricted cash and restricted cash equivalents at January 1,	1,807	1,304
Cash, cash equivalents, restricted cash and restricted cash equivalents at September 30,	666	1,447
Non-cash investing and financing activities:
Purchases of property, plant, and equipment included in accounts payable	$ 92	$ 76

Earnings Per Share of Common Stock - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income (loss) attributable to Chemours	$ (27)	$ 12	$ 94	$ (220)
Denominator:
Weighted-average number of common shares outstanding - basic	149,697,616	148,623,633	149,383,146	148,929,580
Dilutive effect of the Company’s employee compensation plans	0	1,562,005	735,880	0
Weighted-average number of common shares outstanding - diluted	149,697,616	150,185,638	150,119,026	148,929,580
Basic (loss) earnings per share of common stock	$ (0.18)	$ 0.08	$ 0.63	$ (1.47)
Diluted (loss) earnings per share of common stock	$ (0.18)	$ 0.08	$ 0.63	$ (1.47)

- Definition

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

+ References

+ Details

- Definition

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

+ References

+ Details

- Definition

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

+ References

+ Details

Background, Description of the Business, and Basis of Presentation - Revised Interim Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss) attributable to Chemours	$ (27)	$ 12	$ 94	$ (220)
Cash flows from operating activities:
Deferred tax benefit			(34)	(137)
Accounts payable and other liabilities				0
Accounts payable			(95)	(333)
Other current operating liabilities			(624)	660
Non-current operating liabilities			4	(2)
Cash used for operating activities			(771)	74
Cash flows from financing activities:
Proceeds from supplier financing programs			67	70
Payments to supplier financing program			(80)	(72)
Cash (used for) provided by financing activities			$ (121)	177
As reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss) attributable to Chemours		$ 20		(212)
Cash flows from operating activities:
Deferred tax benefit				(135)
Accounts payable and other liabilities				313
Accounts payable				0
Other current operating liabilities				0
Non-current operating liabilities				0
Cash used for operating activities				72
Cash flows from financing activities:
Proceeds from supplier financing programs				0
Payments to supplier financing program				0
Cash (used for) provided by financing activities				179
Revised [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss) attributable to Chemours				(8)
Cash flows from operating activities:
Deferred tax benefit				(2)
Accounts payable and other liabilities				12
Accounts payable				0
Other current operating liabilities				0
Non-current operating liabilities				0
Cash used for operating activities				2
Cash flows from financing activities:
Proceeds from supplier financing programs				70
Payments to supplier financing program				(72)
Cash (used for) provided by financing activities				(2)
As revised [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss) attributable to Chemours				(220)
Cash flows from operating activities:
Deferred tax benefit				(137)
Accounts payable and other liabilities				325
Accounts payable				0
Other current operating liabilities				0
Non-current operating liabilities				0
Cash used for operating activities				74
Cash flows from financing activities:
Proceeds from supplier financing programs				70
Payments to supplier financing program				(72)
Cash (used for) provided by financing activities				177
Reclassification [Member]
Cash flows from operating activities:
Accounts payable and other liabilities				(325)
Accounts payable				(333)
Other current operating liabilities				660
Non-current operating liabilities				(2)
Cash used for operating activities				0
Cash flows from financing activities:
Proceeds from supplier financing programs				0
Payments to supplier financing program				0
Cash (used for) provided by financing activities				$ 0

Segment Information - Reconciliation of Segment Adjusted EBITDA from Segments to Consolidated (Loss) Income Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Segment Adjusted EBITDA	$ 268	$ 301	$ 809	$ 1,038
Corporate expenses	(57)	(54)	(187)	(164)
Interest expense, net	(69)	(55)	(197)	(145)
Depreciation and amortization	(78)	(76)	(223)	(233)
Non-operating pension and other post-retirement employee benefit income (cost)	2	(1)	4	(1)
Exchange losses, net	0	(9)	(6)	(21)
Restructuring, asset-related, and other charges	(43)	(127)	(51)	(142)
Goodwill impairment charge (Note 11)	(56)		(56)
Inventory write-offs		(36)		(36)
Loss on extinguishment of debt		(1)		(1)
Gain on sales of assets and businesses, net	0	106	3	106
Transaction costs	(3)	(7)	(15)	(7)
Qualified spend recovery	7	11	22	43
Litigation-related charges	(1)	(31)	15	(675)
Environmental charges		(8)		(9)
(Loss) income before income taxes	(30)	13	118	(247)
Titanium Technologies [Member]
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Segment Adjusted EBITDA	85	69	235	226
Thermal & Specialized Solutions [Member]
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Segment Adjusted EBITDA	141	162	453	561
Advanced Performance Materials [Member]
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Segment Adjusted EBITDA	39	68	113	233
Other Segment [Member]
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Segment Adjusted EBITDA	$ 3	$ 2	$ 8	$ 18

Debt - Accounts Receivable Securitization Facility - Narrative (Details) - Securitization Facility - Special Purpose Entity - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Mar. 09, 2020	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Line of Credit Facility [Line Items]
Percentage of fair value on additional purchases of receivables	100.00%
Cash proceeds for receivables		$ 365	$ 398	$ 1,053	$ 1,079
Accounts receivable from securitization, amount derecognized		375	$ 372	1,091	1,079
Receivable from securitization facility		$ 110		110		$ 87
Fees associated with securitization facility				$ 1	$ 1

Financial Instruments - Schedule of Derivative Assets and Liabilities At Fair Value (Details) - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 0	$ 2
Liability derivatives	11	11
Not 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	1
Not Designated as Hedging Instrument [Member] \| Other accrued liabilities [Member] \| Foreign currency forward contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives	0	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	1
Designated as Hedging Instrument [Member] \| Accounts and notes receivable - trade, net [Member] \| Interest Rate Swaps [Member] \| Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives	8	7
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	$ 3

Accounts and Notes Receivable, Net - Schedule of Accounts and Notes Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Accounts receivable - trade, net	$ 825	$ 509
VAT, GST and other taxes	103	81
Other receivables	23	20
Total accounts and notes receivable, net	$ 951	$ 610

Restructuring, Asset-Related, and Other Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended	14 Months Ended	21 Months Ended	33 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2026	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]
Asset-related impairment	$ 25	$ 78		$ 25	$ 89
Employee separation charges	18	25		16	25
Decommissioning and other charges	2	23		11	27
Cash payments				$ 14
2022 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges									$ 8
Employee separation charges		(1)			(2)
ERP Implementation Abandonment [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges			$ 1
Contract Termination Charges			4
Write-Off of Deferred Software Development Costs			$ 11
Titanium Technologies Transformation Plan [Member]
Restructuring Cost and Reserve [Line Items]
Announcement date of plant closing				Jul. 27, 2023
Effective date of plant closing				Aug. 01, 2023
Approved date of plant closing				Jul. 26, 2023
Asset-related impairment		78			78
Employee separation charges		20		$ (1)	20
Decommissioning and other charges	(1)	23		8	23
Cash payments				7
Titanium Technologies Transformation Plan [Member] \| Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges							$ 127
Asset-related impairment							78
Employee separation charges							14
Contract Termination Charges							14
Decommissioning, dismantling and other charges	(1)			8			21
Cash payments				41
Titanium Technologies Transformation Plan [Member] \| Facility Closing [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Expected additional charges for dismantling and removal costs	5			5			5	$ 5	5
Titanium Technologies Transformation Plan [Member] \| Titanium Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Liabilities paid	7			7			7	7	7
Remaining outstanding liability	7			7			7	7	7
Contract termination liabilities	14			14			14	14	$ 14
Titanium Technologies Transformation Plan [Member] \| Titanium Technologies [Member] \| Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges							$ 6
2023 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		6		(1)	6			3
Cash payments				3
2023 Restructuring Program [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges								1
2024 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	46			46
Asset-related impairment	25			25
Employee separation charges	18			18
Decommissioning and other charges	3			3
Cash payments				4
2024 Restructuring Program [Member] \| Forecast [Member]
Restructuring Cost and Reserve [Line Items]
Decommissioning and other charges						$ 3
Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related impairment		1			12
Employee separation charges	5	1		5	2
Decommissioning and other charges					4
Corporate [Member] \| 2022 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		(1)			(1)
Corporate [Member] \| Titanium Technologies Transformation Plan [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related impairment		1			1
Corporate [Member] \| 2023 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		2			2			$ 2
Corporate [Member] \| 2024 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges	5			5
Operating Segments [Member] \| Titanium Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related impairment		77			77
Employee separation charges		20		(1)	20
Decommissioning and other charges	(1)	23		8	23
Operating Segments [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related impairment	25			25
Employee separation charges	13	4		12	3
Decommissioning and other charges	3			3
Operating Segments [Member] \| 2022 Restructuring Program [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges					(1)
Operating Segments [Member] \| Titanium Technologies Transformation Plan [Member] \| Titanium Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related impairment		77			77
Employee separation charges		20		(1)	20
Decommissioning and other charges	(1)	23		8	23
Operating Segments [Member] \| 2023 Restructuring Program [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Employee separation charges		$ 4		(1)	$ 4
Operating Segments [Member] \| 2024 Restructuring Program [Member] \| Advanced Performance Materials [Member]
Restructuring Cost and Reserve [Line Items]
Asset-related impairment	25			25
Employee separation charges	13			13
Decommissioning and other charges	$ 3			$ 3

Accounts Payable - Schedule of Accounts Payable (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Payables And Accruals [Abstract]
Trade payables	$ 1,037	$ 1,134
VAT and other payables	32	25
Total accounts payable	$ 1,069	$ 1,159

Investments in Affiliates - Narrative (Details) - Equity Method Investee [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments in Affiliates
Net sales	$ 30	$ 35	$ 95	$ 118
Purchases	88	52	217	169
Dividends	$ 0	$ 0	$ 0	$ 3

Goodwill and Other Intangible Assets, Net - Schedule of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Goodwill [Line Items]
Balance at December 31, 2023		$ 102
Goodwill impairment	$ (56)	(56)
Balance at September 30, 2024	46	46
Operating Segments [Member]
Goodwill [Line Items]
Balance at December 31, 2023		102
Goodwill impairment		(56)
Balance at September 30, 2024	46	46
Titanium Technologies [Member] \| Operating Segments [Member]
Goodwill [Line Items]
Balance at December 31, 2023		13
Balance at September 30, 2024	13	13
Thermal & Specialized Solutions [Member] \| Operating Segments [Member]
Goodwill [Line Items]
Balance at December 31, 2023		33
Balance at September 30, 2024	33	33
Advanced Performance Materials [Member] \| Operating Segments [Member]
Goodwill [Line Items]
Balance at December 31, 2023		56
Goodwill impairment		(56)
Balance at September 30, 2024	$ 0	$ 0

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

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-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Commitments and Contingent Liabilities - Litigation - Asbestos (Details) $ in Millions	Sep. 30, 2024 USD ($) Lawsuit	Dec. 31, 2023 USD ($) Lawsuit
Loss Contingencies [Line Items]
Accrual balance	$ 201	$ 786
Asbestos Issue [Member]
Loss Contingencies [Line Items]
Lawsuits alleging personal injury - Filed \| Lawsuit	800	800
Accrual balance	$ 39	$ 39

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

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

Sep. 30, 2024

Dec. 31, 2023

Environmental Remediation [Line Items]

Accrued environmental remediation

$ 567

$ 590

Fayetteville Works, Fayetteville, North Carolina [Member]

Environmental Remediation [Line Items]

Accrued environmental remediation

^[1]

356

383

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

Environmental Remediation [Line Items]

Accrued environmental remediation

192

208

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

Environmental Remediation [Line Items]

Accrued environmental remediation

$ 164

$ 175

[1]	For more information on this matter refer to “Fayetteville Works, Fayetteville, North Carolina” within this “Note 18 – Commitments and Contingent Liabilities”.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Other Accrued Liabilities

9 Months Ended

Sep. 30, 2024

Payables And Accruals [Abstract]

Other Accrued Liabilities

Note 15. Other Accrued Liabilities

The following table sets forth the components of the Company’s other accrued liabilities at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
Accrued litigation (1)	$	114	$	713
Asset retirement obligations (2)		14		18
Income taxes		20		28
Customer rebates		65		78
Accrued interest		47		18
Operating lease liabilities		53		55
Miscellaneous (3)		134		148
Total other accrued liabilities	$	447	$	1,058

(1)

(2)

Represents the current portion of asset retirement obligations (see “Note 17 – Other Liabilities”).

(3)

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

Earnings Per Share of Common Stock - Schedule of Earnings Per Share, Basic and Diluted (Parenthetical) (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Potentially dilutive securities excluded from calculation	482,579	1,753,788

Accounts and Notes Receivable, Net - (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounts Notes And Loans Receivable [Line Items]
Bad debt expense	$ 5	$ 2	$ 7	$ 3

Inventories

9 Months Ended

Sep. 30, 2024

Inventory, Net [Abstract]

Inventories

Note 9. Inventories

The following table sets forth the components of the Company’s inventories at September 30, 2024 and December 31, 2023.


	September 30, 2024			December 31, 2023
Finished products	$	926		$	770
Semi-finished products		272			255
Raw materials, stores, and supplies		622			709
Inventories before LIFO adjustment		1,820			1,734
Less: Adjustment of inventories to LIFO basis		(382	)		(382	)
Total inventories	$	1,438		$	1,352

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 $868 and $920 (or 48% and 53%, respectively) of inventories before the LIFO adjustments at September 30, 2024 and December 31, 2023, respectively. The Company’s inventories held in international locations are valued under the average cost method.

Equity

9 Months Ended

Sep. 30, 2024

Stockholders Equity Note [Abstract]

Equity

Note 19. Equity

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 and nine months ended September 30, 2024 and 2023, respectively.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Total number of shares purchased		—		450,667		—		2,108,408
Total amount for shares purchased	$	—	$	17	$	—	$	69
Average price paid per share	$	—	$	37.60	$	—	$	32.48

There were no share repurchases under the 2022 Share Repurchase Program for the three and nine months ended September 30, 2024. Through September 30, 2024, the Company purchased a cumulative 10,342,722 shares of Chemours’ issued and outstanding common stock under the 2022 Share Repurchase Program, which amounted to $309 at an average share price of $29.90 per share. The aggregate amount of Chemours’ common stock that remained available for purchase under the 2022 Share Repurchase Program at September 30, 2024 was $441, though the Company does not anticipate additional repurchases under the 2022 Share Repurchase Program.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
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)	198,282,108	197,519,784
Common stock, shares outstanding (in shares)	149,392,660	148,587,397
Treasury stock (in shares)	48,889,448	48,932,387

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Earnings Per Share of Common Stock

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share of Common Stock

Note 7. Earnings Per Share of Common Stock


	Three Months Ended September 30,					Nine Months Ended September 30,
	2024			2023		2024		2023
Numerator:
Net (loss) income attributable to Chemours	$	(27	)	$	12	$	94	$	(220	)
Denominator:
Weighted-average number of common shares outstanding - basic		149,697,616			148,623,633		149,383,146		148,929,580
Dilutive effect of the Company’s employee compensation plans (1)		—			1,562,005		735,880		—
Weighted-average number of common shares outstanding - diluted		149,697,616			150,185,638		150,119,026		148,929,580

Basic (loss) earnings per share of common stock (2)	$	(0.18	)	$	0.08	$	0.63	$	(1.47	)
Diluted (loss) earnings per share of common stock (1) (2)		(0.18	)		0.08		0.63		(1.47	)

(1)

(2)

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Average number of stock options		3,047,186		1,325,972		2,028,213		1,305,941

Background, Description of the Business, and Basis of Presentation

9 Months Ended

Sep. 30, 2024

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Background, Description of the Business, and Basis of Presentation

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

The Chemours Company (“Chemours”, or the “Company”) is a leading, global provider of performance chemicals that are key inputs in end-products and processes in a variety of industries. The Company delivers customized solutions with a wide range of industrial and specialty chemical products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. The Company’s principal products include refrigerants, titanium dioxide (“TiO2”) pigment, and industrial fluoropolymer resins. Chemours manages and reports its operating results through its three principal reportable segments: Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials. The Thermal & Specialized Solutions segment is a leading, global provider of refrigerants, thermal management solutions, propellants, blowing agents, and specialty solvents. 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 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.

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, 2023.

Audit Committee Internal Review

On February 29, 2024, the Company announced that it needed additional time to complete its year-end reporting process, including its review of internal control over financial reporting as of December 31, 2023, and for the Audit Committee of the Board of Directors (the “Audit Committee”) to complete a related internal review (the “Audit Committee Internal Review”). The scope of the Audit Committee Internal Review included, among other things, reviewing (i) the process for reviewing reports made to the Chemours Ethics Hotline; (ii) the Company’s practice for managing working capital, including the related impact on metrics within the Company’s incentive plans; and (iii) certain non-GAAP metrics included in filings made with the Securities and Exchange Commission or otherwise publicly released, and related disclosures. 

The Audit Committee has completed its planned procedures with respect to the Internal Review and determined, among other things, based on the review conducted with the assistance of independent outside counsel, that:

•

the Company's then-Chief Executive Officer, then-Chief Financial Officer, and then-Controller engaged in efforts in the fourth quarter of 2023 to delay payments to certain vendors that were originally due to be paid in the fourth quarter of 2023 until the first quarter of 2024, and to accelerate the collection of receivables into the fourth quarter of 2023 that were originally not due to be received until the first quarter of 2024;

•

these individuals engaged in these efforts in part to meet free cash flow targets that the Company had communicated publicly, and which also would be part of a key metric for determining incentive compensation applicable to executive officers; and

•

there was a lack of transparency with the Company’s Board of Directors by the members of former senior management who were placed on administrative leave with respect to these actions.

Further discussion related to the Audit Committee Internal Review is included under the heading "Securities Related Litigation and Requests for Information Arising From Audit Committee Internal Review, and Related Indemnification Agreements" within "Note 18 - Commitments and Contingent Liabilities".

Revision of Previously Issued Financial Statements

During the financial close process for the fourth quarter of 2023, the Company identified certain immaterial errors impacting previously issued financial statements beginning as of March 31, 2017, and subsequent annual and quarterly reporting periods through September 30, 2023. Specifically, the Company identified errors relating to the following: 1) the financial statement presentation of a supplier financing program. Management determined that the liabilities associated with the supplier financing program were incorrectly classified as accounts payable, rather than short-term and current maturities of long-term debt, in the consolidated balance sheets. Based on the fact that the paying agent extends the Company's payment date beyond the vendor's original payment terms, it was concluded that the program was more akin to a debt-like arrangement. Correspondingly, cash flows associated with this supplier financing arrangement were incorrectly presented as operating activities in the consolidated statements of cash flows when they should have been presented as gross financing activities; 2) the classification of certain inventory charges of $8 associated with the decommissioning of the Kuan Yin, Taiwan manufacturing facility which were incorrectly recorded as restructuring, asset-related, and other charges instead of cost of goods sold within the consolidated statement of operations in the third quarter of 2023 and 3) the recording of $10 of decommissioning costs associated with the Kuan Yin, Taiwan manufacturing facility and the related liability not previously recorded in the September 30, 2023 interim financial statements.

The Company assessed the materiality of these errors on prior period consolidated financial statements in accordance with the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 99, “Materiality,” codified in ASC 250, Accounting Changes and Error Corrections (“ASC 250”). Based on this assessment, management concluded that the error correction is not material to any previously presented interim or annual financial statements. The impact of the revisions to the quarterly period ended September 30, 2023 are presented in the tables below.

Additionally, certain prior period amounts have been reclassified to conform to the current period presentation, the effect of which was not material to the Company’s consolidated financial statements. For the previously issued quarterly financial statements ended September 30, 2023, the changes in accounts payable, other current operating liabilities, and non-current operating liabilities, which had been originally reported as part of Accounts payable and other operating liabilities are now separately reported in individual line items in the Interim Consolidated Statements of Cash Flows.

Revised Interim Consolidated Statements of Operations


		Three months ended September 30, 2023
		As reported			Revision				As revised
Cost of goods sold	$		1,206	$		8		$		1,214
Gross profit	$		281	$		(8	)	$		273
Restructuring, asset-related, and other charges	$		124	$		2		$		126
Total other operating expenses	$		317	$		2		$		319
Income (loss) before income taxes	$		23	$		(10	)	$		13
Provision for (benefit from) income taxes	$		3	$		(2	)	$		1
Net income (loss)	$		20	$		(8	)	$		12
Net income (loss) attributable to Chemours	$		20	$		(8	)	$		12
Per share data
Basic earnings (loss) per share of common stock	$		0.13	$		(0.05	)	$		0.08
Diluted earnings (loss) per share of common stock	$		0.13	$		(0.05	)	$		0.08


		Nine months ended September 30, 2023
		As reported				Revision				As revised
Cost of goods sold	$		3,607		$		8		$		3,615
Gross profit	$		1,059		$		(8	)	$		1,051
Restructuring, asset-related, and other charges	$		139		$		2		$		141
Total other operating expenses	$		1,288		$		2		$		1,290
Loss before income taxes	$		(237	)	$		(10	)	$		(247	)
Benefit from income taxes	$		(26	)	$		(2	)	$		(28	)
Net loss	$		(211	)	$		(8	)	$		(219	)
Net loss attributable to Chemours	$		(212	)	$		(8	)	$		(220	)
Per share data
Basic loss per share of common stock	$		(1.42	)	$		(0.05	)	$		(1.47	)
Diluted loss per share of common stock	$		(1.42	)	$		(0.05	)	$		(1.47	)

Revised Interim Consolidated Statements of Comprehensive (Loss) Income


		Three months ended September 30, 2023
		As reported				Revision				As revised
Net income (loss)	$		20		$		(8	)	$		12
Comprehensive loss	$		(13	)	$		(8	)	$		(21	)
Comprehensive loss attributable to Chemours	$		(13	)	$		(8	)	$		(21	)

		Nine months ended September 30, 2023
		As reported				Revision				As revised
Net loss	$		(211	)	$		(8	)	$		(219	)
Comprehensive loss	$		(183	)	$		(8	)	$		(191	)
Comprehensive loss attributable to Chemours	$		(184	)	$		(8	)	$		(192	)

Revised Interim Consolidated Statements of Cash Flows


	Nine months ended September 30, 2023
													As revised
	As reported			Revised			As revised			Reclassification			and reclassified
Net loss	$	(212	)	$	(8	)	$	(220	)	$	—		$	(220	)
Cash flows from operating activities:
(Decrease) increase in operating liabilities:
Deferred tax benefit	$	(135	)	$	(2	)	$	(137	)	$	—		$	(137	)
Accounts payable and other liabilities	$	313		$	12		$	325		$	(325	)	$	—
Accounts payable	$	—		$	—		$	—		$	(333	)	$	(333	)
Other current operating liabilities	$	—		$	—		$	—		$	660		$	660
Non-current operating liabilities	$	—		$	—		$	—		$	(2	)	$	(2	)
Cash used for operating activities	$	72		$	2		$	74		$	—		$	74

Cash flows from financing activities:
Proceeds from supplier financing programs	$	—		$	70		$	70		$	—		$	70
Payments to supplier financing program	$	—		$	(72	)	$	(72	)	$	—		$	(72	)
Cash (used for) provided by financing activities	$	179		$	(2	)	$	177		$	—		$	177

Insurance Recoveries

The Interim Consolidated Statements of Operations for the three and nine month periods ended September 30, 2024 include a pre-tax benefit of $5 and $20, respectively, for insurance proceeds within selling, general and administrative expenses, net of third-party legal expenses of $1 and $6, respectively. The Company recorded $20 in restricted cash and restricted cash equivalents at September 30, 2024 representing its estimated interest in the escrow account established for these insurance proceeds.

The proceeds were recovered over a period of more than four years beginning in the second quarter 2020. Of the amounts recorded in the Interim Consolidated Statement of Operations for the nine month period ended September 30, 2024, $13 relates to amounts collected prior to January 1, 2024 which were recorded in the second quarter of 2024 and $4 relates to amounts collected during the first quarter of 2024, of which $2 was recorded in each of the second quarter and third quarter of 2024. The Company assessed the materiality of these out-of-period adjustments on current and prior period consolidated financial statements in accordance with the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 99, “Materiality,” codified in ASC 250, Accounting Changes and Error Corrections (“ASC 250”). Based on this assessment, management concluded that the amounts are not material to any previously presented interim or annual financial statements and are not expected to be material to the current annual financial statements.

Debt - Components of Debt (Details) € in Millions, $ in Millions	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Finance lease liabilities		$ 49		$ 58
Financing obligation		90		92
Supplier financing obligation		$ 13		$ 27
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Less: Short-term and current maturities of long-term debt	Less: Short-term and current maturities of long-term debt	Less: Short-term and current maturities of long-term debt	Less: Short-term and current maturities of long-term debt
Other		$ 16
Total debt principal		4,078		$ 4,084
Less: Unamortized issue discounts		(20)		(25)
Less: Unamortized debt issuance costs		(17)		(21)
Less: Short-term and current maturities of long-term debt		(53)		(51)
Total long-term debt, net		3,988		3,987
Senior Secured Tranche B-3 U.S Dollar Term Loan Due August 2028 [Member]
Debt Instrument [Line Items]
Long-term debt		1,059		1,067
Senior Secured Tranche B-3 Euro Term Loan Due August 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 415	462	€ 415	457
4.000% Senior Unsecured Notes Due May 2026 [Member]
Debt Instrument [Line Items]
Long-term debt	€ 441	491	€ 441	485
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

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,501	$ 1,487	$ 4,388	$ 4,666
Adjusted EBITDA	268	301	809	1,038
Depreciation and amortization	78	76	223	233
Total Assets	7,463		7,463		$ 8,251
Titanium Technologies [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	85	69	235	226
Thermal & Specialized Solutions [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	141	162	453	561
Advanced Performance Materials [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	39	68	113	233
Other Segment [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	3	2	8	18
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	1,501	1,487	4,388	4,666
Depreciation and amortization	72	71	207	217
Total Assets	5,765		5,765		5,438
Operating Segments [Member] \| Titanium Technologies [Member]
Segment Reporting Information [Line Items]
Net sales	679	690	1,940	2,029
Adjusted EBITDA	85	69	235	226
Depreciation and amortization	35	34	99	101
Total Assets	2,303		2,303		2,226
Operating Segments [Member] \| Thermal & Specialized Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	460	436	1,422	1,445
Adjusted EBITDA	141	162	453	561
Depreciation and amortization	13	15	39	47
Total Assets	1,539		1,539		1,283
Operating Segments [Member] \| Advanced Performance Materials [Member]
Segment Reporting Information [Line Items]
Net sales	348	343	985	1,118
Adjusted EBITDA	39	68	113	233
Depreciation and amortization	23	21	66	64
Total Assets	1,829		1,829		1,833
Operating Segments [Member] \| Other Segment [Member]
Segment Reporting Information [Line Items]
Net sales	14	18	41	74
Adjusted EBITDA	3	2	8	18
Depreciation and amortization	1	$ 1	3	$ 5
Total Assets	$ 94		$ 94		$ 96