1. business and industrial
2. company
3. merger and acquisition

DuPont First Quarter 2015 Earnings
Conference Call
April 21, 2015
Regulation G
The attached charts include company information that does not conform to generally accepted accounting principles (GAAP).
Management believes that an analysis of this data is meaningful to investors because it provides insight with respect to ongoing operating
results of the company. These measures should not be viewed as an alternative to GAAP measures of performance. Furthermore, these
measures may not be consistent with similar measures provided by other companies. This data should be read in conjunction with
previously published company reports on Forms 10-K, 10-Q, and 8-K. These reports, along with reconciliations of non-GAAP measures to
GAAP are available on the Investor Center of www.dupont.com under Filings and Reports – Reconciliations and Other Data.
Reconciliations of non-GAAP measures to GAAP are also included with this presentation.
Forward-Looking Statements
This document contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “believes,”
“intends,” “estimates,” “anticipates” or other words of similar meaning. All statements that address expectations or projections about the
future, including statements about the company's strategy for growth, product development, regulatory approval, market position,
anticipated benefits of recent acquisitions, timing of anticipated benefits from restructuring actions, outcome of contingencies, such as
litigation and environmental matters, expenditures and financial results, are forward looking statements. Forward-looking statements are
not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized.
Forward-looking statements also involve risks and uncertainties, many of which are beyond the company’s control. Some of the important
factors that could cause the company’s actual results to differ materially from those projected in any such forward-looking statements are:
fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; ability
to respond to market acceptance, rules, regulations and policies affecting products based on biotechnology; significant litigation and
environmental matters; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or
political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or
supply disruptions; security threats, such as acts of sabotage, terrorism or war, weather events and natural disasters; ability to protect and
enforce the company's intellectual property rights; successful integration of acquired businesses and separation of underperforming or nonstrategic assets or businesses and successful completion of the proposed spinoff of the Performance Chemicals segment including ability
to fully realize the expected benefits of the proposed spinoff. The company undertakes no duty to update any forward-looking statements
as a result of future developments or new information.
Developing Markets
Total developing markets is comprised of Developing Asia, Developing Europe, Middle East & Africa, and Latin America. A detailed list of
all developing countries is available on the Earnings News Release link on the Investor Center website at www.dupont.com.
1
1Q 2015 Financial Highlights*
$ in millions, except EPS
1Q15
vs. 1Q14
Operating earnings*
$1.34
(15%)
GAAP earnings
$1.13
(27%)
1Q15
vs. 1Q14
EPS
Consolidated Net Sales
$9,172
Volume
(9%)
(1%)
Local Prices & Product Mix
-
Currency Impact
(6%)
Portfolio
(2%)
Segment Operating Earnings*
$1,943
(14%)
* See appendix for reconciliations of Non-GAAP Measures
2
1Q 2015 Operating EPS* Variance
$0.05
$0.02
($0.26)
($0.25)
Currency
($0.03)
($0.02)
$1.58
Operating*
EPS
1Q14
$1.34
Operating*
EPS
Corp & Interest Exp
Lower Shares
Segment Results
Tax Rate
EGL
1Q15
Key Factors
 Lower corporate and interest expense and lower shares outstanding together contributed $0.07 to the quarter
 Higher tax rate and EGL negatively impacted operating EPS by $0.03 per share and $0.02 per share, respectively
 Segment results, including a $0.25 per share impact from currency, were down due to challenging agriculture and
TiO2 markets, partially offset by strength in Performance Materials, Electronics & Communication and Safety &
Protection
* See appendix for details of significant items and reconciliation of Non-GAAP Measures
3
Global Sales – Regional Highlights
1Q 2015 Sales by Region
Latin America
10%
Latin America
9%
Developed Asia
8%
U.S. & Canada
47%
Developing Asia
10%
Developed EMEA
17%
1Q 2014 Sales by Region
U.S. & Canada
44%
Developed Asia
7%
Developing Asia
10%
Developing EMEA
9%
Developed EMEA
19%
Developing EMEA
10%
 Shifts mainly reflect the impact of currency movements versus the U.S. Dollar, particularly
in EMEA
4
1Q 2015 Segment Operating Earnings* Variance
($ in millions)
$34
$26
$10
$9
$0
($4)
($77)
($303)
$2,248
$1,943
Segment
Operating
Earnings*
Segment
Operating
Earnings*
1Q14
Perf Mtls
Other
E&C
S&P
IB
N&H
Perf Chem
Ag
1Q15
Key Factors
 Performance Materials results driven by demand for ethylene and performance polymers, partially offset by lower ethylene
selling prices
 Other reflects lower expenses associated with pre-commercial programs and discontinued businesses
 Electronics & Communications earnings growth fueled by demand in consumer electronics paired with strong productivity
gains
 Safety & Protection delivered broad based volume growth across Tyvek® , Kevlar®, and Nomex® brands
 Performance Chemicals results impacted by lower TiO2 volumes and price
 Agriculture results driven by impact of currency and decreased volumes due to expected reductions in global corn planted
area and lower insecticide demand in Latin America from reduced insect pressure, partially offset by pricing gains
* See appendix for details of significant items and reconciliation of Non-GAAP Measures
5
Balance Sheet and Cash
March 31, 2015
Free Cash Flow*
Free Cash Flow
• Slightly improved over prior year
1Q 14
• Benefit from reduction in working capital
0.0
$ Billions
Balance Sheet
-1.0
-2.0
-3.0
-4.0
• $6.6B net debt**
• Increase since year end due to normal seasonal
working capital requirements
Cash and Debt
Expected Uses of Cash for 2015
16
• Announced 4 percent increase in 2Q dividend
• Continued growth investments in line with strategy
Gross Debt
Cash
Net Debt**
12
$ Billions
• Capex spend est. $1.8B FY 2015, including
Performance Chemicals
1Q 15
8
4
0
Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15
* Free Cash Flow is cash provided by operating activities of ($2,123MM) and ($2,421MM) less purchases of plant, property and equipment of $565MM and $320MM for the
quarter ended March 31, 2015 and 2014, respectively.
** See appendix for reconciliation of Non-GAAP measures.
6
Other Highlights
• Redesign initiative on track and contributed $0.10 per share to operating earnings in
the quarter; now expect about $0.40 per share in savings for full year 2015
• On track to complete Performance Chemicals separation July 1st, pending final
approval from DuPont’s Board of Directors
• Expect to return all or substantially all of anticipated Chemours one-time dividend proceeds of
approximately $4 billion to shareholders via share repurchases within 12-18 months of separation,
a portion of which will occur by the end of 2015
• Expect Chemours to declare quarterly dividend of about $100 million payable in 3Q15 to
shareholders of record after the separation
7
Performance Materials***
Performance Polymers (DPP), Packaging & Industrial Polymers (P&IP)
1Q Comments
1Q Sales*
• Sales – Sales of $1.4B were down 8 percent as strong volume
growth was more than offset by the impacts of the Glass
Laminating Solutions/Vinyls divestiture, currency, and lower
ethylene prices
Vol 8%, Local Price -3%, Currency -5% Port./Other -8%
$ in Millions
1,700
• Portfolio and currency reduced sales by 13 percent; excluding
these factors, sales would have been up 5 percent
1,600
1,500
1,400
1,534
1,411
1,300
1,200
1Q14
Volume
Local
Price
1Q15
(ex-curr
& portf.)
Curr.
Portf./
other
1Q15
• Segment volume increased 8 percent on solid North America and
Asia demand in auto and increased ethylene sales. Prior year
ethylene sales were constrained in advance of a planned
maintenance outage
• Operating Earnings - Up 12 percent as higher volumes and
stronger mix more than offset negative impacts from currency
and portfolio changes
• Operating margins increased ~400 bps due to mix enrichment
2Q Outlook
375
25%
300
20%
225
15%
150
10%
75
5%
0
0%
1Q13
1Q14
• 2Q: Sales - Down about low-teens percent due primarily to
portfolio changes, currency, and lower ethylene prices.
Excluding currency and portfolio, sales up in the low-single digit
range
Margin
$ in Millions
1Q Operating Earnings**
• Operating Earnings - Increase in the mid-single digits on higher
volume and continued mix enrichment
• The benefit of lower ethane costs will be more than offset by
lower margins for ethylene and ethylene-based products.
1Q15
* Segment sales include transfers.
**See appendix for reconciliation of non-GAAP measures.
***Prior periods reflect reclassification of Viton® fluoroelastomers from Performance Materials to Performance Chemicals.
8
Electronics & Communications
1Q Sales*
Vol -3%, Local Price -5%, Currency -2%, Port./Other 0%
1Q Comments
$ in Millions
600
• Sales - Down 10 percent as volume growth in consumer
electronics was more than offset by the impact of competitive
pressures on sales of Solamet® paste and the negative impact
of lower metals pricing and currency
550
580
500
521
• Operating Earnings - Improved 13 percent on stronger product
mix and continued productivity
450
1Q14
Volume
Local
Price
1Q15
(ex-curr
& portf.)
Curr.
Portf./
other
1Q15
2Q Outlook
125
20%
100
15%
75
10%
50
25
5%
0
0%
1Q13
1Q14
1Q15
* Segment sales include transfers.
**See appendix for reconciliation of non-GAAP measures.
• Sales - Down about low-teens percent with continued solid
demand for consumer electronics more than offset by the
negative impact of metals pricing, currency and lower
Solamet® paste sales
Margin
$ in Millions
1Q Operating Earnings**
• Operating Earnings – Down low-single digits percent as
productivity actions partially offset the impact of lower sales
• Competitive position in PV paste is stabilizing
• Currently testing new Solamet® paste with customers; expect
to launch the first in a series of new products in 2Q, with
additional introductions later in the year
9
Safety & Protection
Protection Technologies (DPT), Building Innovations (BI), Sustainable
Solutions (DSS)
1Q Sales*
1Q Comments
$ in Millions
Vol 6%, Local Price -1%, Currency-4%, Port./Other -5%
1,050
• Sales – Down 4 percent as 6 percent volume growth was more
than offset by currency and portfolio impact
1,000
• Increased demand in global industrial markets and continued
strong public sector demand in Europe
950
900
• Operating Earnings – Up 5 percent on higher volumes and
continued productivity
947
909
• Higher costs associated with the Chambers Works outage were
largely offset by a benefit in connection with the advancement of
an ongoing claim
850
1Q14
Volume
Local
Price
1Q15
(ex-curr
& portf.)
Curr.
Portf./
other
1Q15
2Q Outlook
250
25%
200
20%
150
15%
100
10%
50
5%
0
• 2Q: Sales – Volume growth is more than offset by currency
and portfolio, resulting in sales down mid-single digits on a
percent basis
Margin
$ in Millions
1Q Operating Earnings**
• Operating Earnings - Increase in the mid-single digits due to
volume growth and continued productivity
0%
1Q13
1Q14
1Q15
* Segment sales include transfers.
* Segment sales include transfers.
**See appendix for reconciliation of non-GAAP measures.
**See appendix for reconciliation of non-GAAP measures.
10
Industrial Biosciences
1Q Sales*
1Q Comments
Vol 1%, Local Price 0%, Currency – 6%, Port./Other 0%
• Sales – Sales of $285 million were 5 percent lower as 5
percent higher bioactives volumes were more than offset by
the impact of currency
$ in Millions
310
300
• Volume growth in enzymes driven by food market demand,
partially offset by lower biomaterial sales in key US markets
290
301
280
285
• Operating Earnings – Even with strong comp from the prior
year
1Q15
• Operating margins up 100 basis points versus 1Q 2014, up
~540 basis points from 1Q 2013
270
1Q14
Volume
Local
Price
1Q15
(ex-curr
& portf.)
Curr.
Portf./
other
2Q Outlook
60
25.0%
50
20.0%
40
15.0%
30
10.0%
20
10
5.0%
0
0.0%
1Q13
1Q14
1Q15
* Segment sales include transfers.
**See appendix for reconciliation of non-GAAP measures.
Margin
$ in Millions
1Q Operating Earnings**
• 2Q: Anticipate higher volumes will be offset by the negative
impact of currency and softer US biomaterials sales resulting
in Sales about flat and Operating Earnings even with the prior
year
• Bioactives volumes expected to benefit from new product
offerings and increasing emerging market penetration
• Lower prices anticipated in biomaterials due to competitive
pressures driven by lower raw material prices
11
Nutrition & Health
1Q Sales*
1Q Comments
$ in Millions
Vol 2%, Local Price 0%, Currency-8%, Port./Other 0%
900
• Sales – 6 percent lower as volume growth was more than
offset by an 8 percent negative impact from currency
850
• Volume growth in probiotics, cultures, texturants and
ingredient systems was partially offset by lower volume in
specialty proteins, mostly in North America
800
861
• Operating Earnings – Decreased $4 million as volume gains
and improved mix were more than offset by the negative
impact of currency
813
750
1Q14
Volume
Local
Price
1Q15
(ex-curr
& portf.)
Curr.
Portf./
other
1Q15
2Q Outlook
1Q Operating Earnings**
• Sales – Expected to be high-single digits percent lower as
volume growth is more than offset by strong currency
headwinds
100
12%
80
9%
60
6%
40
• Specialty protein market to remain very competitive
Margin
$ in Millions
120
• Operating Earnings – Expected to be low-teens percent
lower primarily due to the negative impact of currency
3%
20
0
0%
1Q13
1Q14
* Segment sales include transfers.
**See appendix for reconciliation of non-GAAP measures.
1Q15
12
Agriculture
Pioneer, Crop Protection
1Q Sales*
1Q Comments
• Results better than expected primarily due to disciplined cost actions
Vol -5%, Local Price 3%, Currency-8%, Port./Other 0%
• Sales – 10 percent lower as 3 percent higher local prices were more
than offset by 8 percent negative impact from currency and 5 percent
lower volumes
$ in Millions
4,500
4,300
• Local prices were higher from new product mix in Pioneer and pricing
actions in parts of Europe and Asia, partially offsetting currency
4,100
3,900
4,394
• Volumes were lower due to expected reductions in global corn
planted area and lower insecticide demand in Latin America
3,937
3,700
3,500
1Q14
Volume
Local
Price
1Q15
(ex-curr
& portf.)
Curr.
Portf./
other
• Operating Earnings – Decreased 21 percent as productivity and
disciplined cost actions were more than offset by currency and lower
volumes
1Q15
2Q and 1H Outlook
• Increased headwinds from currency and lower expected corn planted
area
1,600
40.0%
1,200
30.0%
800
20.0%
400
10.0%
0
0.0%
1Q13
1Q14
1Q15
Margin
$ in Millions
1Q Operating Earnings**
• 1H: Sales – High-single digits percent lower as local pricing gains will
be more than offset by currency and lower corn seed and insecticide
volumes; Operating Earnings – Low-to-mid-teens percent lower as
disciplined cost actions and local pricing gains will be more than
offset by currency and lower volume.
• 2Q: Sales – Mid-single-digits percent lower; Operating Earnings –
Down low-to-mid-single digits percent
• Confident in long term sustainable demand growth, strategy and Ag
pipeline
* Segment sales include transfers.
**See appendix for reconciliation of non-GAAP measures.
13
Performance Chemicals***
Titanium Technologies (DTT), Chemical & Fluoroproducts (DC&F)
1Q Sales*
1Q Comments
• Sales –Down 14 percent due to lower volumes and prices in TiO2
combined with the negative impacts of currency and portfolio
changes
Vol -6%, Local Price -3%, Currency -3%, Port./Other -2%
$ in Millions
1,600
• TiO2 volumes and prices were down 12 percent and 7 percent,
respectively. On a sequential basis, price was down 5 percent.
1,500
1,400
• TiO2 market conditions remain challenging. Price pressures in the
quarter were driven by low industry utilization and strong regional
competition
1,591
1,300
1,364
• Sales of next generation refrigerant Opteon® 1234yf up over 30
percent on continued adoption by automotive OEMs
1,200
1Q14
Volume
Local
Price
1Q15
(ex-curr
& portf.)
Curr.
Portf./
other
1Q15
• Operating Earnings - Down 37 percent on lower Ti02 prices and
volumes, currency and portfolio changes.
2Q Outlook
300
25%
• Sales and Operating Earnings – Expected to be flat
250
20%
• Currency anticipated to remain a significant year over year
headwind
200
15%
150
10%
100
5%
50
0
0%
1Q13
1Q14
Margin
$ in Millions
1Q Operating Earnings**
• Volumes expected to improve sequentially versus 1Q due to
increased seasonal demand for refrigerants and TiO2,
fluoropolymers and chemicals demand also expect to improve
1Q15
* Segment sales include transfers.
**See appendix for reconciliation of non-GAAP measures.
***Prior periods reflect reclassification of Viton® fluoroelastomers from Performance Materials to Performance Chemicals
14
APPENDIX 1:
FIRST QUARTER 2015 SEGMENT COMMENTARY
This data should be read in conjunction with the Company’s first quarter earnings news
release dated April 21, 2015, DuPont’s 1Q 2015 Earnings Conference Call presentation
materials and reconciliations of non-GAAP to GAAP measures included in the presentation
materials and posted on the DuPont Investor Center website at www.dupont.com.
4/20/2015
15
Segment Commentary
First Quarter Earnings 2015
Performance Materials
In Performance Materials, we delivered strong volume growth in the quarter, which helped to offset the impact from
currency and lower ethylene prices. Sales of $1.4 billion were up 5 percent year-over-year, excluding an 8 percent
negative impact from portfolio changes, primarily the GLS/Vinyls divestiture, and a 5 percent impact from currency.
Segment volumes increased 8 percent on solid North America and Asia demand in auto and increased ethylene sales.
Sales of ethylene were constrained in the prior year in advance of a planned maintenance outage at our Orange, Texas
ethylene unit.
Operating earnings increased 12 percent as higher volumes and a stronger mix overcame the negative impacts from
currency and portfolio changes. Operating margins increased approximately 400 basis points primarily due to mix
enrichment.
Demand for engineering polymers and elastomers was solid in North America and Asia, despite sluggish year over year
growth in auto builds and weaker demand in Europe and Latin America. In Packaging and Industrial Polymers, the
decline in oil prices year-over-year provided a significant headwind due to lower ethylene prices and margins, offsetting
the favorable impact of advantaged ethane and natural gas pricing. For the second quarter, we anticipate sales will be
low-teens percent lower due primarily to portfolio changes, currency, and lower ethylene prices. Excluding these items,
sales would be up in the low-single-digit range. Operating earnings are expected to be up in the mid-single digits
percent on higher volume and continued mix enrichment.
In the second quarter, we anticipate the benefit of lower ethane cost will be more than offset by lower margins for
ethylene and ethylene-based products.
16
Segment Commentary
First Quarter Earnings 2015
Electronics & Communications
In Electronics & Communications, operating earnings improved 13 percent on a stronger product mix and from
productivity actions. Sales were 10 percent lower with continued growth in consumer electronics which were more than
offset by the impact of competitive pressures on sales of Solamet® paste and the negative impact of lower metals
pricing and currency.
We are the market and technology leader in photovoltaic materials like our Tedlar® films and are driving a robust
innovation pipeline aimed at furthering solar cell efficiency and module lifetime, which will support continued growth. We
believe our competitive position in PV paste is stabilizing. We expect to launch the first in our series of new Solamet®
paste products in the second quarter, with additional introductions later in 2015.
We expect continued solid demand for our materials into consumer electronics. Second quarter sales are forecast to be
down low-teens percent due to the negative impact of metals pricing, currency and from lower Solamet® paste sales.
Second quarter operating earnings are expected to be down low-single digits percent as productivity will partially offset
the impact of lower sales versus a strong prior year quarter.
17
Segment Commentary
First Quarter Earnings 2015
Safety & Protection
Safety & Protection delivered solid improvements in volume, operating margins and operating earnings. Sales of $909
million were down 4 percent as 6 percent volume growth was more than offset by the negative impact of currency as well
as the Sontara® divestiture. Volume growth of 6 percent was broad-based in global industrial markets, including demand
for Tyvek® protective material, Kevlar® high strength materials and Nomex® thermal resistant fiber, driven by sales into
the mechanical, military, medical packaging and chemical markets. The demand for our products – including the latest
versions of Tyvek®, Kevlar®, and Nomex®, - resulted in volume growth in every region in the first quarter.
First quarter segment operating earnings of $184 million were up 5 percent on volume growth and productivity
improvements. Higher costs associated with lower plant utilization at the Chambers Works facility were largely offset by
a benefit in connection with the advancement of an ongoing claim.
Operating margins improved 170 basis points year over year reflecting improved mix and continued productivity.
In the second quarter, sales will be down in the mid-single digit percent range as volume growth will be more than offset
by the impact of currency and portfolio changes. Operating earnings growth will be in the mid-single-digit percent range,
due to continued demand for our products, ongoing innovation, and continued operational productivity.
18
Segment Commentary
First Quarter Earnings 2015
Industrial Biosciences
In Industrial Biosciences, volume and operating margins improved this quarter, despite the challenging environment.
Sales of $285 million were 5 percent lower as 5 percent higher bioactives volumes were more than offset by the impact of
currency. Volumes growth in enzymes driven by food market demand, partially offset by lower biomaterial sales in US
markets.
Operating earnings of $56 million were even with the prior year, overcoming the negative impact of currency. Operating
margins continued to improve, with a 100 basis point increase versus the prior year and 540 basis point increase in total
versus the first quarter of 2013.
We expect higher volumes to continue in the second quarter, driven by benefits from new product offerings in bioactives
and increasing penetration into emerging markets. However, the negative impacts of currency, softer US biomaterial
sales, and lower biomaterials prices will result in sales about flat and operating earnings about even with the prior year on
stronger volumes offsetting negative currency impacts.
19
Segment Commentary
First Quarter Earnings 2015
Nutrition & Health
In Nutrition & Health, the business produced volume and operating margin improvement this quarter. Sales were 6
percent lower, as a 2 percent increase due to volume was offset by an 8 percent negative impact from currency.
We generated strong volume growth in probiotics, cultures, texturants and ingredient systems, partially offset by lower
volumes in the specialty protein market in North America. Volume growth was strong in EMEA despite pressures from
the Russia food import ban, offsetting weakness in Latin America.
Operating earnings decreased $4 million as volume gains and improved mix were more than offset by the negative
impact of currency.
In the second quarter, we expect continued volume growth in most product lines and the specialty protein market to
remain very competitive. Sales are expected to be high-single digits percent lower due to continued strong currency
headwinds. Operating earnings are expected to be low-teens percent lower primarily due to the negative impact of
currency.
20
Segment Commentary
First Quarter Earnings 2015
Agriculture
In Agriculture, the business performed well given the overall difficult market conditions in the industry. First quarter results,
which are primarily driven by the 2015 planting season in the northern hemisphere and the completion of the Safrinha
season in Brazil, were slightly better than expected in January, primarily due to disciplined cost actions.
2015 is playing out to be one of the most competitive seasons in recent years given the challenging economic environment
in the ag sector and with seed suppliers having abundant inventories globally. Lower insect pressure in Brazil and
continued elevated distributor inventories in the Americas are presenting headwinds in crop protection markets.
First quarter Agriculture segment sales were $3.9 billion, down 10 percent, as 3 percent higher local prices were offset by 8
percent negative impact from currency and 5 percent lower volumes. Seed sales were 11 percent lower and crop protection
sales were down 8 percent versus last year.
We were able to capture 3 percent higher prices across the segment, driven by an improved mix of Pioneer’s newest corn
hybrids and soybean varieties and pricing actions in parts of Europe and Asia, partially offsetting the impact of a stronger
U.S. dollar. Higher local prices were offset by a negative impact from currency, primarily from a weaker Euro, Canadian
dollar, Ukrainian hryvnia, Russian ruble and Brazilian Real.
Volume declined 5 percent due to lower corn planted area, lower insecticide volumes in Latin America and earlier timing of
seed shipments. The largest headwind to volume we continue to face is a further shift from corn to soybeans. We have
seen growers in Brazil reduce corn plantings in the past summer and Safrinha seasons and our North America seed order
book confirms the continued shift to soybeans away from corn. In addition, the insect control business has been impacted
by the shutdown of the LaPorte manufacturing facility in Texas resulting in a shortfall in the supply of methomyl and oxamyl.
21
Segment Commentary
First Quarter Earnings 2015
Agriculture (continued)
First quarter operating earnings were significantly impacted by currency and declined 21 percent as lower sales were partially
offset by productivity improvements and disciplined cost actions taken in response to the current market environment in
agriculture.
Even in this difficult environment, we continue to perform and execute on the variables that are within our control – including
bringing new products to market that meet customer demand. We are seeing a positive impact from mix on price as growers
demand our newest corn and soybean genetics. And we continue to build our robust pipeline, with growth prospects in the
near term from new corn and soybean genetics and technologies like event DP4114 and Leptra™ for insect control.
For the first half of 2015, which reflects the majority of the northern hemisphere season, we now expect Agriculture segment
sales to be high-single digits percent lower with operating earnings low-to-mid-teens percent below 2014 as local pricing gains
and cost reductions will be offset by currency and lower corn seed and insecticide volumes. Looking specifically at the second
quarter, sales are expected to be mid-single digits percent lower primarily due to currency with operating earnings down low-tomid single digits percent.
22
Segment Commentary
First Quarter Earnings 2015
Performance Chemicals
In Performance Chemicals, sales of $1.4 Billion were down 14 percent due to lower volumes and prices combined with the
negative impacts of currency and portfolio changes.
Challenging industry fundmentals continued in the first quarter as Ti02 volumes were down 12 percent and price down 7
percent. On a sequential basis, price was down 5 percent. Price pressures in the quarter were driven in part by lower
than optimal industry utilization rates and strong regional competition.
In Chemicals and Fluoroproducts, volumes were even with the prior year as higher demand for fluoropolymers was offset
by lower sales of fluorochemicals, principally due to the reduction in R22 production allocations. Demand for our next
generation refrigerant, Opteon® 1234yf was up over 30 percent on continued adoption by automotive OEMS.
Operating earnings were down 37 percent driven primarily by lower Ti02 prices and volumes, the negative impacts of
currency, and the impact of portfolio changes.
For the 2nd quarter, we anticipate sales and operating earnings will be flat versus the prior year, with currency anticipated
to remain a significant headwind year over year.
Segment volumes are expected to improve sequentially versus 1Q due to increased seasonal demand for refrigerants and
Ti02. Demand for fluoropolymers and chemicals is also expected to improve.
23
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
QUARTERLY SUPPLEMENTAL FINANCIAL DATA AND NON-GAAP RECONCILIATIONS
(UNAUDITED)
MARCH 31, 2015
INDEX
PAGE
SELECTED OPERATING RESULTS
24
SELECTED INCOME STATEMENT DATA
25
SEGMENT SALES
26
SEGMENT PRETAX OPERATING INCOME
27
SEGMENT OPERATING EARNINGS
28
SIGNIFICANT ITEMS BY SEGMENT - PRETAX OPERATING INCOME
29
RECONCILIATION OF NON-GAAP MEASURES
30-32
RECONCILIATION OF ADJUSTED OPERATING EARNINGS PER SHARE
33
RECONCILIATION OF BASE INCOME TAX RATE TO EFFECTIVE INCOME TAX RATE
34
Note: Management believes that an analysis of operating earnings (as defined on page 24), a "non-GAAP" measure, is meaningful to investors because it provides insight with respect to ongoing operating results
of the company. Such measurements are not recognized in accordance with generally accepted accounting principles (GAAP) and should not be viewed as an alternative to GAAP measures of performance.
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
SELECTED OPERATING RESULTS (UNAUDITED)
(dollars in millions)
Year
2014
4Q14
3Q14
2Q14
1Q14
Year
2013
4Q13
3Q13
2Q13
1Q13
Year
2012
4Q12
3Q12
2Q12
1Q12
Year
2011
9,172
34,723
7,378
7,511
9,706
10,128
35,734
7,747
7,735
9,844
10,408
34,812
7,325
7,390
9,917
10,180
33,681
1,228
3,703
649
497
1,085
1,472
3,632
558
426
1,189
1,459
3,566
193
405
1,421
1,547
3,790
1Q15
INCOME STATEMENT DATA
Consolidated Net Sales
Operating Earnings After Income Taxes,
Attributable to DuPont (1)
Significant Items - After-tax
Non-Operating Pension & OPEB Costs - After-tax (2)
Income from Continuing Operations After Income Taxes
Attributable to DuPont
Depreciation
STATEMENT OF CASH FLOW DATA (3)
Cash Provided by (Used for) Operating Activities
Capital Expenditures (4)
(126)
(9)
39
(44)
8
(12)
(423)
(294)
(71)
(78)
20
(680)
(91)
(342)
(215)
(32)
(237)
(71)
(84)
(20)
(20)
(23)
(21)
(360)
(81)
(95)
(85)
(99)
(439)
(99)
(106)
(116)
(118)
(361)
(43)
1,031
3,610
668
433
1,070
1,439
2,849
183
260
1,026
1,380
2,447
3
306
1,254
310
309
323
312
1,280
319
317
317
327
1,319
328
3,712
5,514
269
350
3,179
5,512
298
36
4,849
2,062
714
544
462
1,940
674
478
449
1,890
(2,123)
565
(2,421)
342
(2,667)
339
1,090
1,397
3,192
331
332
328
1,199
5,275
691
760
720
460
407
(1,877)
303
(1) Operating earnings are defined as earnings from continuing operations (GAAP) excluding “significant items” and “non-operating pension and other post-employment benefit (OPEB) costs”.
(2) First quarter 2015 includes the impact of an after-tax exchange loss on non-operating pension of $23.
(3) Data is on a total company basis.
(4) Includes purchases of property, plant and equipment and investment in affiliates.
Note: The data above provides a historical display of Selected Income Statement Data included in our Quarterly Earnings
Release financials. See Quarterly Earnings Release financials for full details, including details on "Significant Items".
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
24
4/21/2015
5,152
1,910
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
SELECTED INCOME STATEMENT DATA
OPERATING EARNINGS (UNAUDITED)
(dollars in millions, except per share)
1Q15
Year
2014
4Q14
3Q14
2Q14
1Q14
Year
2013
4Q13
3Q13
2Q13
1Q13
Year
2012
4Q12
3Q12
2Q12
1Q12
Year
2011
Consolidated Net Sales
9,172
34,723
7,378
7,511
9,706
10,128
35,734
7,747
7,735
9,844
10,408
34,812
7,325
7,390
9,917
10,180
33,681
Segment Sales
9,241
35,011
7,439
7,580
9,783
10,209
36,046
7,814
7,813
9,925
10,494
35,194
7,397
7,480
10,022
10,295
34,087
Segment Operating Earnings (1)
1,943
5,955
1,014
923
1,770
2,248
5,925
939
853
1,857
2,276
6,251
616
921
2,241
2,473
6,292
Adjusted EBIT (Operating Earnings) (1) (2)
1,902
5,435
992
969
1,529
1,945
5,021
675
587
1,693
2,066
5,147
346
614
2,058
2,129
5,293
Adjusted EBITDA (Operating Earnings) (1) (2)
2,348
7,052
1,371
1,327
1,972
2,382
6,624
1,062
966
2,097
2,499
6,778
740
1,007
2,475
2,556
6,744
Operating Earnings Before Income Taxes (1)
1,822
5,069
905
877
1,439
1,848
4,587
567
482
1,582
1,956
4,708
230
501
1,950
2,027
4,886
1.34
4.01
0.71
0.54
1.17
1.58
3.88
0.59
0.45
1.28
1.56
3.77
0.20
0.43
1.50
1.64
4.02
Operating Earnings Per Share (1) (3)
(1)
See Reconciliation of Non-GAAP Measures.
(2)
Adjusted EBIT from operating earnings is operating earnings (as defined on page 24) before income taxes, net income attributable to noncontrolling interests and interest expense.
Adjusted EBITDA from operating earnings is adjusted EBIT from operating earnings before depreciation and amortization of intangible assets.
(3)
Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations.
Note: The data above provides a historical display of Selected Income Statement Data included in our Quarterly Earnings Release financials. See Quarterly Earnings Release financials for full details, including
details on "Significant Items".
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
25
4/21/2015
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
SEGMENT SALES (UNAUDITED)
(dollars in millions)
SEGMENT SALES
Agriculture
Electronics & Communications
Industrial Biosciences
Nutrition & Health
(1)
Performance Chemicals
Performance Materials(1)
Safety & Protection
Other
Total Segment Sales
Elimination of Transfers
CONSOLIDATED NET SALES
(1)
1Q15
Year
2014
4Q14
3Q14
2Q14
1Q14
Year
2013
4Q13
3Q13
2Q13
1Q13
Year
2012
4Q12
3Q12
2Q12
1Q12
Year
2011
3,937
521
285
813
1,364
1,411
909
1
9,241
11,304
2,393
1,258
3,529
6,497
6,129
3,896
5
35,011
1,732
573
322
843
1,564
1,461
943
1
7,439
1,563
623
318
899
1,646
1,552
977
2
7,580
3,615
617
317
926
1,696
1,582
1,029
1
9,783
4,394
580
301
861
1,591
1,534
947
1
10,209
11,739
2,549
1,224
3,473
6,932
6,239
3,884
6
36,046
1,806
642
326
872
1,671
1,521
975
1
7,814
1,633
638
305
868
1,781
1,602
985
1
7,813
3,631
653
304
865
1,837
1,615
1,017
3
9,925
4,669
616
289
868
1,643
1,501
907
1
10,494
10,426
2,701
1,180
3,422
7,450
6,185
3,825
5
35,194
1,535
622
300
853
1,644
1,478
964
1
7,397
1,423
607
292
876
1,794
1,552
934
2
7,480
3,388
795
300
885
2,043
1,624
986
1
10,022
4,080
677
288
808
1,969
1,531
941
1
10,295
9,166
3,173
705
2,460
8,055
6,554
3,934
40
34,087
(69)
9,172
(288)
34,723
(61)
7,378
(69)
7,511
(77)
9,706
(81)
10,128
(312)
35,734
(67)
7,747
(78)
7,735
(81)
9,844
(86)
10,408
(382)
34,812
(72)
7,325
(90)
7,390
(105)
9,917
(115)
10,180
(406)
33,681
Prior periods reflect the reclassifications of Viton® fluoroelastomers from Performance Materials to Performance Chemicals.
Note: The data above provides a historical display of selected data included in our Quarterly Earnings Release financials.
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
26
4/21/2015
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
INCOME FROM CONTINUING OPERATIONS (UNAUDITED)
(dollars in millions)
SEGMENT PRETAX OPERATING INCOME (LOSS)
Agriculture
Electronics & Communications
Industrial Biosciences
Nutrition & Health
Performance Chemicals(1)
(1)
Performance Materials
Safety & Protection
Other
TOTAL SEGMENT PRETAX OPERATING INCOME
(2)
Net Exchange Gains (Losses)
(2)
Non-Operating Pension & OPEBs Costs
Corporate Expenses
Interest Expense
INCOME (LOSS) FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES
(Provision For) Benefit From Income Taxes
on Continuing Operations
INCOME (LOSS) FROM CONTINUING OPERATIONS
AFTER INCOME TAXES
1Q15
Year
2014
1,174
85
56
89
129
327
184
(103)
2,668
271
198
365
913
1,590
742
(391)
1,941
6,356
64
(75)
(245)
(84)
1,601
(566)
1,035
135
(124)
(999)
(377)
4Q14
492
81
38
75
226
262
188
(132)
1,230
3Q14
(55)
94
47
100
249
370
201
(83)
923
122
(30)
(272)
(87)
218
(30)
(232)
(93)
4,991
963
786
(1,370)
(295)
(352)
3,621
668
434
2Q14
789
21
57
97
232
665
178
(84)
1,955
(109)
(34)
(278)
(94)
1,440
(366)
1,074
1Q14
Year
2013
1,442
75
56
93
206
293
175
(92)
2,132
203
170
305
941
1,264
694
(340)
(108)
(38)
41
87
228
278
213
(91)
(102)
97
45
81
189
367
171
(107)
2,248
5,369
610
741
(73)
(124)
(183)
(108)
(101)
(142)
(162)
(108)
122
228
61
35
183
263
(96)
(30)
(217)
(103)
1,802
(128)
(539)
(765)
(448)
3,489
(357)
1,445
(626)
2,863
4Q13
3Q13
2Q13
861
95
43
61
268
332
172
(55)
1,777
35
(126)
(206)
(115)
1,365
(335)
1,030
1Q13
Year
2012
1,481
49
41
76
256
287
138
(87)
1,669
222
159
270
1,826
1,073
562
(412)
(103)
41
41
22
210
263
130
(80)
(198)
(99)
37
64
417
223
92
(75)
2,241
5,369
524
461
(54)
(147)
(240)
(117)
(130)
(157)
(233)
(116)
(34)
(175)
38
135
4
(40)
11
(147)
(214)
(117)
1,774
(387)
1,387
(215)
(654)
(948)
(464)
3,088
(616)
2,472
4Q12
3Q12
2Q12
1Q12
682 1,288
221
59
39
42
105
79
613
586
325
262
181
159
(208)
(49)
1,961
50
(174)
(224)
(117)
1,496
(397)
1,099
(1)
Prior periods reflect the reclassifications of Viton® fluoroelastomers from Performance Materials to Performance Chemicals.
(2)
In the first quarter 2015, the impact of an exchange loss on non-operating pension of $23 is included within Net Exchange Gains and is excluded from Non-Operating Pension & OPEB Costs above.
2,423
(81)
(176)
(251)
(114)
1,801
(392)
1,409
Note: The data above provides a historical display of selected data included in our Quarterly Earnings Release financials.
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
27
4/21/2015
Year
2011
1,566
438
2
76
2,162
1,031
661
(55)
5,881
(146)
(540)
(869)
(447)
3,879
(647)
3,232
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
OPERATING EARNINGS (UNAUDITED)
(dollars in millions)
SEGMENT OPERATING EARNINGS
Agriculture
Electronics & Communications
Industrial Biosciences
Nutrition & Health
Performance Chemicals(1)
(1)
Performance Materials
Safety & Protection
Other
TOTAL SEGMENT OPERATING EARNINGS
Corporate Expenses
Interest Expense
OPERATING EARNINGS BEFORE INCOME TAXES
AND EXCHANGE (LOSSES) GAINS
Provision For Income Taxes on Operating Earnings,
Excluding Taxes on Exchange (Losses) Gains
Net After-tax Exhange (Losses) Gains (2)
Less: Net Income Attr. to Noncontrolling Interests
OPERATING EARNINGS
Net Income Attributable to Noncontrolling Interests
Non-Operating Pension & OPEB Costs - After-tax (2)
Significant Items - After-tax
INCOME (LOSS) FROM CONTINUING OPERATIONS
AFTER INCOME TAXES
1Q15
Year
2014
1,139
85
56
89
129
327
184
(66)
2,352
355
211
380
934
1,298
794
(369)
1,943
5,955
(164)
(84)
1,695
(378)
(85)
4
1,228
4
(71)
(126)
1,035
(702)
(377)
4,876
(938)
(224)
11
3,703
11
(84)
(9)
3,621
4Q14
129
97
49
82
228
332
209
(112)
1,014
3Q14
(55)
94
47
100
249
370
201
(83)
923
(144)
(87)
(171)
(93)
783
659
(71)
(63)
-
(122)
(39)
1
649
497
(20)
39
1
(20)
(44)
668
434
2Q14
836
89
59
105
251
303
209
(82)
1,770
(186)
(94)
1,490
(347)
(54)
4
1,085
1Q14
Year
2013
1,442
75
56
93
206
293
175
(92)
2,483
334
169
299
1,015
1,280
690
(345)
88
93
40
81
230
294
209
(96)
(62)
97
45
81
261
367
171
(107)
2,248
5,925
939
853
(191)
(108)
(162)
(108)
640
583
(43)
(39)
-
(111)
(43)
3
558
426
(81)
(294)
3
(95)
(71)
183
263
(201)
(103)
1,944
4,715
(398)
(68)
6
1,472
4
(23)
8
1,074
(762)
(448)
(983)
(86)
14
3,632
6
(21)
(12)
1,445
14
(360)
(423)
2,863
4Q13
3Q13
2Q13
941
95
43
61
268
332
172
(55)
1,857
(195)
(115)
1,547
(373)
19
4
1,189
4
(85)
(78)
1,030
1Q13
Year
2012
1,516
49
41
76
256
287
138
(87)
2,276
(214)
(117)
1,945
(456)
(23)
7
1,459
7
(99)
20
1,387
4Q12
3Q12
2,138
259
162
319
1,862
1,177
620
(286)
(77)
43
41
58
243
266
133
(91)
(70)
58
40
77
420
324
147
(75)
6,251
616
921
(215)
(117)
(174)
(116)
4,923
284
631
(1,190)
(142)
25
(61)
(29)
1
(164)
(59)
3
3,566
193
405
1
(99)
(91)
3
(106)
(342)
(864)
(464)
25
(439)
(680)
2,472
4
2Q12
1Q12
947 1,338
99
59
39
42
105
79
613
586
325
262
181
159
(71)
(49)
2,241
(224)
(117)
1,900
(460)
(10)
9
1,421
9
(116)
(215)
(40) 1,099
2,473
(251)
(114)
2,108
(505)
(44)
12
1,547
12
(118)
(32)
1,409
Year
2011
1,791
438
81
202
2,162
984
661
(27)
6,292
(813)
(447)
5,032
(1,137)
(65)
40
3,790
40
(361)
(237)
3,232
(1)
Prior periods reflect the reclassifications of Viton® fluoroelastomers from Performance Materials to Performance Chemicals.
(2)
In the first quarter 2015, the impact of an after-tax exchange loss on non-operating pension of $23 is excluded from Net After-tax Exchange Losses and is included within Non-Operating Pension & OPEB Costs-After tax
above.
Note: The data above provides a historical display of selected data included in our Quarterly Earnings Release financials.
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
28
4/21/2015
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
SIGNIFICANT ITEMS BY SEGMENT - PRETAX OPERATING INCOME (UNAUDITED)
(dollars in millions)
SEGMENT PRETAX IMPACT OF
SIGNIFICANT ITEMS
Agriculture
Electronics & Communications
Industrial Biosciences
Nutrition & Health
Performance Chemicals
Performance Materials
Safety & Protection
Other
1Q15
Year
2014 4Q14
3Q14
2Q14
1Q14
Year
2013
4Q13
3Q13
2Q13
1Q13
Year
2012
4Q12
3Q12
2Q12
1Q12
Year
2011
35
(37)
316
(84)
(13)
(15)
(21)
292
(52)
(22)
363
(16)
(11)
(7)
(2)
(70)
(21)
(20)
-
(47)
(68)
(2)
(8)
(19)
362
(31)
(2)
-
(351)
(131)
1
6
(74)
(16)
4
5
(196)
(131)
1
6
(2)
(16)
4
5
(40)
(72)
-
(80)
-
(35)
-
(469)
(37)
(3)
(49)
(36)
(104)
(58)
(126)
(26)
(2)
(36)
(33)
(3)
(3)
11
(128)
(157)
(3)
(13)
(3)
(101)
(55)
-
(265)
122
(137)
(50)
-
(225)
(79)
(126)
47
(28)
(2)
401
216
-
185
-
(556)
(329)
(112)
(80)
(35)
(882)
(92)
(460)
(280)
(50)
(411)
TOTAL SIGNIFICANT ITEMS
BY SEGMENT - PRETAX
Note: The data above provides a historical display of significant items included in our Quarterly Earnings Release financials.
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
29
4/21/2015
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
(dollars in millions, except per share)
Year
2014
4Q14
3Q14
2Q14
1Q14
1.34
(0.07)
(0.14)
1.13
4.01
(0.10)
(0.01)
3.90
0.71
(0.02)
0.04
0.73
0.54
(0.02)
(0.05)
0.47
1.17
(0.03)
0.01
1.15
1.58
(0.03)
(0.01)
1.54
1,943
(2)
1,941
5,955
401
6,356
1,014
216
1,230
923
923
1,770
185
1,955
2,248
2,248
1Q15
Year
2013
4Q13
3Q13
2Q13
1Q13
Year
2012
3.88
(0.39)
(0.45)
3.04
0.59
(0.09)
(0.31)
0.19
0.45
(0.09)
(0.08)
0.28
1.28
(0.10)
(0.08)
1.10
1.56
(0.11)
0.02
1.47
5,925
(556)
5,369
939
(329)
610
853 1,857 2,276
(112)
(80)
(35)
741 1,777 2,241
4Q12
Year
2011
3Q12
2Q12
1Q12
3.77 0.20
(0.46) (0.11)
(0.72) (0.09)
2.59
-
0.43
(0.11)
(0.37)
(0.05)
1.50
(0.12)
(0.23)
1.15
1.64
(0.12)
(0.04)
1.48
4.02
(0.39)
(0.25)
3.38
6,251
(882)
5,369
616
(92)
524
921 2,241 2,473
(460) (280)
(50)
461 1,961 2,423
6,292
(411)
5,881
(175) 1,496
519
280
157
174
501 1,950
3
9
116
117
1,801
50
176
2,027
12
114
3,879
467
540
4,886
40
447
RECONCILIATION OF DILUTED EPS (1)
Operating EPS
Non-Operating Pension & OPEB Costs (2)
Significant Items
GAAP EPS from continuing operations
RECONCILIATION OF SEGMENT PTOI
Segment Operating Earnings
Significant Items included in Segment PTOI
Segment PTOI
RECONCILIATION OF ADJUSTED EBIT / ADJUSTED EBITDA TO CONSOLIDATED INCOME STATEMENTS
Income From Continuing Operations Before Income Taxes
Add: Significant Items - Pretax - (Benefit) / Charge
Add: Non-Operating Pension & OPEB Costs - Pretax (2)
Operating Earnings Before Income Taxes
Less: Net Income Attributable to Noncontrolling Interests
Add: Interest Expense
1,601
123
98
1,822
4
84
4,991
(46)
124
5,069
11
377
963
(88)
30
905
87
786
61
30
877
1
93
1,440 1,802
(35)
16
34
30
1,439 1,848
4
6
94
103
3,489
559
539
4,587
14
448
122
321
124
567
108
228
112
142
482
3
108
1,365
91
126
1,582
4
115
1,774
35
147
1,956
7
117
3,088
966
654
4,708
25
464
(34)
117
147
230
1
117
Adjusted EBIT (Operating Earnings)
1,902
5,435
992
969
1,529
1,945
5,021
675
587
1,693
2,066
5,147
346
614
2,058
2,129
5,293
446
1,617
379
358
443
437
1,603
387
379
404
433
1,631
394
393
417
427
1,451
2,348
7,052
1,371
1,327
1,972
2,382
6,624
1,062
966
2,097
2,499
6,778
740
1,007
2,475
2,556
6,744
Add:
Depreciation and Amortization
Adjusted EBITDA (Operating Earnings)
(1) Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations.
(2) First quarter 2015 includes the impact of an exchange loss on non-operating pension of $23.
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
30
4/21/2015
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
(dollars in millions)
Mar-15
Dec-14 Sep-14 Jun-14
Mar-14
Dec-13 Sep-13 Jun-13
Mar-13
Dec-12 Sep-12 Jun-12
Mar-12
Dec-11
CALCULATION OF NET DEBT
Cash and Cash Equivalents
Marketable Securities
Total Cash
Short-Term Borrowings and Capital Lease Obligations
Long-Term Borrowings and Capital Lease Obligations
Total Debt
Net Debt (Non-GAAP)
3,622
125
3,747
6,910
124
7,034
3,982
566
4,548
4,174
173
4,347
3,782
67
3,849
8,941
145
9,086
7,005
184
7,189
6,685
211
6,896
6,555
26
6,581
4,284
123
4,407
3,418
105
3,523
3,506
50
3,556
3,410
191
3,601
3,586
433
4,019
1,621
8,763
10,384
1,423
9,271
10,694
3,889
9,279
13,168
2,506
9,292
11,798
2,019
9,298
11,317
1,721
10,741
12,462
4,204
10,755
14,959
3,315
10,765
14,080
2,006
11,279
13,285
1,275
10,465
11,740
4,564
10,502
15,066
3,696
11,254
14,950
3,593
11,232
14,825
817
11,736
12,553
6,637
3,660
8,620
7,451
7,468
3,376
7,770
7,184
6,704
7,333
11,543
11,394
11,224
8,534
Year
1Q15
2014
(2,123)
565
(2,688)
3,712
2,020
1,692
Year
4Q14
3Q14
2Q14
1Q14
2013
(2,421)
320
(2,741)
3,179
1,882
1,297
Year
4Q13
3Q13
2Q13
1Q13
2012
(2,667)
321
(2,988)
4,849
1,793
3,056
Year
4Q12
3Q12
2Q12
1Q12
2011
(1,877)
301
(2,178)
5,152
1,843
3,309
CALCULATION OF FREE CASH FLOW
Cash Provided by (Used for) Operating Activities
Less: Purchases of Property, Plant and Equipment
Free Cash Flow
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
5,514
709
4,805
269
530
(261)
350
461
(111)
31
5,512
659
4,853
298
466
(168)
36
436
(400)
5,275
654
4,621
691
443
248
760
395
365
4/21/2015
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
1Q15
Year
2014
4Q14
3Q14
2Q14
1Q14
Year
2013
4Q13
3Q13
2Q13
1Q13
Year
2012
4Q12
3Q12
2Q12
1Q12
Year
2011
Agriculture
Electronics & Communications
Industrial Biosciences
Nutrition & Health
(2)
Performance Chemicals
(2)
Performance Materials
Safety & Protection
29.8%
16.3%
19.6%
10.9%
9.5%
23.2%
20.2%
23.6%
11.3%
15.7%
10.3%
14.1%
25.9%
19.0%
28.4%
14.1%
11.8%
8.9%
14.5%
17.9%
19.9%
-3.5%
15.1%
14.8%
11.1%
15.1%
23.8%
20.6%
21.8%
3.4%
18.0%
10.5%
13.7%
42.0%
17.3%
32.8%
12.9%
18.6%
10.8%
12.9%
19.1%
18.5%
18.2%
8.0%
13.9%
8.8%
13.6%
20.3%
17.9%
-6.0%
-5.9%
12.6%
10.0%
13.6%
18.3%
21.8%
-6.2%
15.2%
14.8%
9.3%
10.6%
22.9%
17.4%
23.7%
14.5%
14.1%
7.1%
14.6%
20.6%
16.9%
31.7%
8.0%
14.2%
8.8%
15.6%
19.1%
15.2%
16.0%
8.2%
13.5%
7.9%
24.5%
17.3%
14.7%
-6.7%
6.6%
13.7%
2.6%
12.8%
17.8%
13.5%
-13.9%
-16.3%
12.7%
7.3%
23.2%
14.4%
9.9%
20.1%
27.8%
14.0%
11.9%
30.0%
20.0%
18.4%
31.6%
8.7%
13.5%
9.8%
29.8%
17.1%
16.9%
17.1%
13.8%
0.3%
3.1%
26.8%
15.7%
16.8%
TOTAL SEGMENT PTOI MARGIN %
21.0%
18.2% 16.5% 12.2% 20.0% 22.0%
14.9%
7.8%
9.5% 17.9% 21.4%
15.3%
7.1%
6.2% 19.6% 23.5%
17.3%
28.9%
16.3%
19.6%
10.9%
9.5%
23.2%
20.2%
20.8%
14.8%
16.8%
10.8%
14.4%
21.2%
20.4%
21.2%
13.1%
13.8%
8.6%
14.6%
20.5%
17.8%
4.9%
14.5%
12.3%
9.3%
13.8%
19.3%
21.4%
32.5%
8.0%
14.2%
8.8%
15.6%
19.1%
15.2%
20.5%
9.6%
13.7%
9.3%
25.0%
19.0%
16.2%
-5.0%
6.9%
13.7%
6.8%
14.8%
18.0%
13.8%
21.0%
17.0% 13.6% 12.2% 18.1% 22.0%
16.4% 12.0% 10.9% 18.7% 21.7%
17.8%
SEGMENT PTOI MARGIN % (PTOI / Segment Sales) (1)
SEGMENT OPERATING EARNINGS MARGIN %
(Operating Earnings / Segment Sales) (1)
Agriculture
Electronics & Communications
Industrial Biosciences
Nutrition & Health
(2)
Performance Chemicals
Performance Materials(2)
Safety & Protection
TOTAL SEGMENT OPERATING EARNINGS MARGIN %
7.4%
16.9%
15.2%
9.7%
14.6%
22.7%
22.2%
-3.5%
15.1%
14.8%
11.1%
15.1%
23.8%
20.6%
23.1%
14.4%
18.6%
11.3%
14.8%
19.2%
20.3%
32.8%
12.9%
18.6%
10.8%
12.9%
19.1%
18.5%
-3.8%
15.2%
14.8%
9.3%
14.7%
22.9%
17.4%
25.9%
14.5%
14.1%
7.1%
14.6%
20.6%
16.9%
-4.9%
9.6%
13.7%
8.8%
23.4%
20.9%
15.7%
28.0%
12.5%
14.0%
11.9%
30.0%
20.0%
18.4%
32.8%
8.7%
13.5%
9.8%
29.8%
17.1%
16.9%
19.5%
13.8%
11.5%
8.2%
26.8%
15.0%
16.8%
8.3% 12.3% 22.4% 24.0%
18.5%
(1) Segment PTOI / Operating Earnings margin %'s for Other (which includes the previous Pharmaceuticals segment) are not presented separately above as they are not meaningful; however,
the results are included in the Total margin %'s above.
(2) Prior periods reflect the reclassifications of Viton® fluoroelastomers from Performance Materials to Performance Chemicals.
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
32
4/21/2015
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
Year
2014
RECONCILIATION OF ADJUSTED OPERATING EPS
Year
2008
EPS from continuing operations (GAAP)
Add: Significant Items
Add: Non-Operating Pension & OPEB Costs / (Credits)
Operating EPS (Non-GAAP)
3.90
0.01
0.10
4.01
2.28
0.42
(0.28)
2.42
Less: Performance Chemicals (a),(b)
Less: Pharma (c)
Adjusted Operating EPS (excluding Performance Chemicals, Pharma) (Non-GAAP)
0.82
0.02
3.17
0.59
0.73
1.10
(a) Prior periods reflect the reclassifications of Viton® fluoroelastomers from Performance Materials to Performance Chemicals.
(b) Performance Chemicals operating earnings assumes a base income tax rate from continuing operations of 19.2% and 20.4%
for 2014 and 2008, respectively.
(c) Pharma operating earnings assumes a 35% tax rate.
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
33
4/21/2015
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
RECONCILIATION OF BASE INCOME TAX RATE TO EFFECTIVE INCOME TAX RATE (UNAUDITED)
Base income tax rate is defined as the effective income tax rate less the effect of exchange gains (losses), significant items and
non-operating pension/OPEB costs.
Three months ended
March 31,
2015
2014
Effective income tax rate
Significant items effect and non-operating pension/OPEB costs effect
Tax rate, from continuing operations, before significant items and
non-operating pension/OPEB costs
Exchange gains (losses) effect2
Base income tax rate from continuing operations
Year ended December 31,
2015 Outlook1
2014 Actual
35.4%
(3.0%)
32.4%
19.8%
0.2%
20.0%
30.8%
(5.3%)
25.5%
27.4%
(0.7%)
26.7%
(10.1%)
22.3%
0.5%
20.5%
-3.5%
22.0%
(7.5%)
19.2%
1 - Represents the company's anticipated full year tax rates.
2 - The company does not forecast the impact of exchange gains (losses) on the projected tax rate.
34
1Q15 Supplemental Financial Data and Non-GAAP Reconciliations
4/21/2015
Copyright©©2014
Copyright
2015DuPont
DuPontororitsits
affiliates.
affiliates.
All All
rights
rights
reserved.
reserved.
The DuPont
DuPontOval
OvalLogo,
Logo,DuPont™,
DuPont™,
The
The
miracles
miracles
of science™
of science™ and all
and all products
products,
unless
denoted
otherwise
with indicated,
™ or ® aredenoted
registered
with
trademarks
™ or ® are
or
trademarks trademarks
registered
of E. I. du Pont
or trademarks
de Nemours of
and
E.Company
I. du Pontorde
itsNemours
affiliates. and
Company or its affiliates.
Images reproduced by E. I. du Pont de Nemours and Company under
license from
Images
reproduced
the National
by E.
Geographic
I. du Pont Society.
de Nemours and Company under
license from the National Geographic Society.
© National Geographic Image