1 Nanjing Chemical Complex Grand Opening Investor Presentation September 20, 2007
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1
Nanjing Chemical Complex Grand OpeningInvestor PresentationSeptember 20, 2007
2
Forward Looking Statements, Reconciliation and Use of Non-GAAP Measures to U.S. GAAP
This presentation may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this presentation, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this presentation. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Certain of these risk factors are discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
Reconciliation of Non-U.S. GAAP Measures to U.S. GAAP This presentation reflects two performance measures, operating EBITDA and adjusted earnings per share, as non-U.S. GAAP measures. The most directly comparable financial measure presented in accordance with U.S. GAAP in our consolidated financial statements for operating EBITDA is operating profit and for adjusted earnings per share is earnings per common share-diluted.
Use of Non-U.S. GAAP Financial Information
§ Operating EBITDA, a measure used by management to measure performance, is defined as operating profit from continuing operations, plus equity in net earnings from affiliates, other income and depreciation and amortization, and further adjusted for other charges and adjustments. Our management believes operating EBITDA is useful to investors because it is one of the primary measures our management uses for its planning and budgeting processes and to monitor and evaluate financial and operating results. Operating EBITDA is not a recognized term under U.S. GAAP and does not purport to be an alternative to operating profit as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. Because not all companies use identical calculations, this presentation of operating EBITDA may not be comparable to other similarly titled measures of other companies. Additionally, operating EBITDA is not intended to be a measure of free cash flow for management’s discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements nor does it represent the amount used in our debt covenants.
§ Adjusted earnings per share is a measure used by management to measure performance. It is defined as net earnings (loss) available to
common shareholders plus preferred dividends, adjusted for other charges and adjustments, and divided by the number of basic common shares, diluted preferred shares, and options valued using the treasury method. We provide guidance on an adjusted earnings per share basis and are unable to reconcile forecasted adjusted earnings per share to a GAAP financial measure because a forecast of Other Items is not practical. We believe that the presentation of this non-U.S. GAAP measure provides useful information to management and investors regarding various financial and business trends relating to our financial condition and results of operations, and that when U.S. GAAP information is viewed in conjunction with non-U.S. GAAP information, investors are provided with a more meaningful understanding of our ongoing operating performance. This non-U.S. GAAP information is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information.
3
An Attractive Hybrid Business Model
Balance of intermediate & specialty products* Celanese internal peer group
Commodity Chemicals
Intermediate ProductsOil & Gas Consumer
Products
• Motorola• Toyota• Sherwin-Williams• Siemens
• Dow*• Lyondell• Methanex
• Rohm & Haas*• ICI*
Celanese
Specialty Products
• Dow* • Eastman*• PPG*• FMC*
• Exxon• BP• Shell
1 Includes Other Operating Segment, with Revenue of $257 and $117 and Operating EBITDA of ($111) and ($29), respectively
$1.75$3.00Adjusted EPS
$674$1,244Operating EBITDA1 (in $ millions)
$3,111$6,656Revenue1 (in $ millions)
1H20072006
4
40% 35% 25%
Balanced Global and End Use Positions
Includes oxo alcohol and polyol derivative divestiture and APL acquisitionEnd use breakdown based on 2006 est. external sales revenue
Other 11%
Construction8%
Paints & Coatings14%
Automotive9%
Consumer / MedicalApplications11%
Filter Media14%
Consumer and Industrial
Adhesives4%
Textiles6%
Food and Beverage5%
Chemical Additives
6%Paper &
Packaging9%
Performance Industrial Applications3%
5
Acetyl Intermediates
Formaldehyde
Anhydride and esters
VAM
Acetic Acid
Differentiated Intermediates Specialty Products
Raw Materials
Building Block
Businesses integrated along the “acetyls” value chain
Engineered Plastics
Nutrinova
Acetate
Engineered Plastics
Nutrinova
Emulsions
AcetateRaw
Materials
Advanced Engineered Materials –
AEM (Ticona and
Affiliates)
Engineered Plastics
Consumer and Industrial
Specialties - CIS
Nutrinova
EmulsionsAT Plastics
Acetate
EmulsionsEmulsionsEmulsions/
PVOH
6
2007 – 2010: Celanese Earnings Growth Strategy
Celanese 2010 Objective:
$300 - $350 million improvement in EBITDA profile
Asia
Revitalization Organic
Balance Sheet
Innovation
Operational ExcellenceBusiness Specific
$300-$350 million EBITDA Growth
7
Balance growth objective across all business groups
$300 – $350 million increased EBITDA profile plus EPS potential by 2010
X
X
X
X
Operational Excellence
X
Balance Sheet
X
X
Organic
> $100MMXAcetyl Intermediates
X
Revitalization
X
X
Asia
> $100MMXConsumer and Industrial Specialties
X
Innovation
Incremental EPS
Celanese Corporate
> $100MMAdvanced Engineered Materials
EBITDA ImpactGroup
Primary Growth Focus
Ope
ratin
g EB
ITD
AEP
S
8
Long and successful history in Asia
1964 1989 1999 20082000 2007
Polyplastics venture with
Daicel
Plastics venture with Mitsubishi
Acetate ventures in
China
VAM Acid
Production site in Singapore
Success in Asia through strategic steps
Direct Path
Joint Venture Path
Continued expansion in
Nanjing
Acetyl Intermediates: Anhydride &
VAM
AEM: GUR®
and Celstran®
Acetic Acid & Emulsions production
sites in Nanjing,
China
1997
9
Significant presence to date in China and the rest of Asia
Advanced Engineered Materials
Celanese Acetate JVs
Celanese Acetyls Intermediates
Japan/Fuji City Polyplastics
Korea/Seoul (KEP)
Nantong (PTM Engineering Plastics)
Taiwan (Polyplastics)
Malaysia/Kuantan (Polyplastics)
Zhuhai Fibers CompanyKunming Fibers Company
Nantong Fibers Company
Nanjing
Singapore
Taiwan (Polyplastics)
Sales Offices
Nanjing Complex
10
Approximately 50% of earnings from the fastest growing region by 2010
Note: Revenue breakdown based on Celanese 2006 consolidated net sales (does not include sales from equity and cost investments).
2006 Regional Split
Europe
Americas
Asia~30%
Europe
Americas
Asia25%
2010E Regional Split
Europe
Americas
Asia45-55%
Europe
Americas
Asia30-35%
RevenueRevenue
Earnings Earnings
11
Asia continues to increase its share of global production capacity
16%
27%
26%
34%
51%
59%
2009/2010E20062000Products
6%3%Celstran®4
19%17%GUR®3
18%6%VAE Emulsions2
26%25%Acetic Anhydride1
46%39%VAM1
52%40%Acetic Acid1
Sources:1 Tecnon and SRI.2 Kline and Celanese estimates.3 Celanese estimates for capacity information in the UHMW-PE industry.4 BRG Townsend, Inc., publicly available data and Celanese estimates.
12
Nanjing Complex
13
AceticAcidUnit
Utilities /Tank Farm
EmulsionsComplex
Acetic Anhydride Unit
FlareWarehouse
Vinyl AcetateMonomer Unit
Administration &Maintenance
Nanjing: fully integrated, low cost facility
► Construction proceeding on schedule
► Integrated complex
► Leading technologies
► Advantaged feedstock
► Highly capital efficient
► EHS excellence
► Integrated IP protection
GUR®
Unit
Platform for growth in Asia
Celstran®
Unit
14
Nanjing Projects: Facts and Figures
Acetic Acid≥ Capacity – 600 kT (expandable
to 1,200 kT)≥ AO+™ Technology
Acetic Anhydride≥ Capacity – 100 kT
VAM≥ Capacity – 300 kT≥ Vantage Plus™ Technology
Celstran®
≥ Capacity – 4 kT(expandable to 8 kT)
2007 2008
Emulsions ≥ Capacity – 60 kT
≥ VAE – 48 kT≥ Conventional Emulsions – 12 kT
GUR®
≥ Capacity – 16 kT(expandable to 32 kT)
Nanjing Facts
≥ Location – Nanjing City Industrial Park (NCIP)
• Only one of two state approved industrial parks
• Total area of NCIP ~ 45 kilometers
≥ ~ 19 hectares of land use rights acquired
≥ Employees – 234 currently and ~300+ expected by 2009 (including shared services)
2009
15
Nanjing: Highly integrated complex with leading Celanese technologies
Merchant
Sales
Methanol
Coal basedCO
Ethylene
Acetic Anhydride
~40%
100%
~90%
~10%
100%
20%~40%
100%Emulsions
Acetic Acid(AO+™)
GUR®
Vinyl Acetate(VAntage Plus™)
Projected $600 - $700 million in incremental sales by 2010
Polypropylene Celstran®100%
16
Coal gasification in China: low cost and reliable
Nanjing: Advantaged feedstock position with coal-based CO
Coal Gasification
► Low CostSignificant cost advantage § > 25% advantage versus natural gas
(typical alternative feedstock)§ Synergies from CO and methanol co-
production
► Reliable~50% of the 55 coal gasification units in the world are in ChinaRedundant critical systems enhance reliability
1 From William Preston presentation at Gasification Technologies Council in 2001
Coal - waterslurry
1
17
Nanjing: Integrated approach to protecting our IP in China
Design, Engineering, & Construction► Process design developed outside China► Selected equipment purchase outside China► Security check on key contractor personnel
Operation Including Information Control► Separation of jobs, limited rotation► Selected critical lab analyses in Singapore► Biometric access to IP sensitive areas
Hiring Policy & Practices► Criteria includes company specific background► Employment contracts with IP language► 3-5 year bonding of critical employees
Litigation Track Record► 100% success rate► > $100 million recovery (5 lawsuits)► 3 others pending litigation
Biometrics
Critical Equipment& Design
What is IP?
18
Acetyls
19
Nanjing complex builds upon Celanese’s strong position in China► Celanese will continue to remain competitive as the global leader in
Acetic AcidStrong cost position
Global presence gives customers reliability of supply
Focus on growth in China and the rest of Asia
Ability exists to double the capacity of both Nanjing and Singapore at a fraction of the original capital cost
► Downstream integration into VAM, Acetic Anhydride, and Esters give Celanese a unique position to supply the global market
20
Leading position in the acetyl value chain VAM
~5MM metric tons
BP 23%
Eastman3%
Other29%
Daicel3%
Lyondell5%
Sopo 6%
Nanjing6%
Celanese25%
Acetic Acid~10MM metric tons
Dairen
11%
Others
19%Kuraray
2%
Millennium
6%
BP
5%
Showa
3%
Gohsei
3%
DuPont
6%Sinopec
7%
Dow
8%
Nanjing4%
Celanese26%
Celanese: Integrated leader in AcetylsSource: Tecnon 2006
Nanjing4%
Rhodia5%
Other16%
Jilin4%
BP6%
Daicel12%
Celanese22%
Eastman31%
Acetic Anhydride~2.5MM metric tons
21
Acetyl Intermediates: High utilization rates expected through 2009; unmatched operating cost advantage
1Based on effective capacity at 90% of nameplate (Celanese estimate)Source: Celanese estimates; Available Public Data
CapacityUtilization1(Nov, 2006): 91% 93% 92% 91% 91% 92%
0
2,000
4,000
6,000
8,000
10,000
12,000
2004 2005 2006E 2007E 2008E 2009E
KT
High Cost CapacityLow Cost CapacityDemand
Acetic Acid Supply-Demand Balance2009E Acetic Acid Cost Curve
based on Effective Capacity (kt)
0 2,000 4,000 6,000 8,000 10,000 12,000
By-prod
AO Plus™/Leading Competition
Conventional MeOH /CO
High Cost Supply
Pampa (under review)
Celanese technology
22 *Effective capacity at 94% of nameplate
VAM Global Supply / Demand Balance
VAM - estimated 2007-2009 global supply/demand balance
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2004 2005 2006E 2007E 2008E 2009E
KT
Effective Capacity Demand
Capacity Utilization1: 98% 97% 93% 96% 95% 95%
Celanese Nanjing300 kta
Sipchem Saudi
300 kta
23
Industrial Specialties
24
Translating Vinyl Acetate success to Asia
0.0
1.2
2.4
US Europe China China 2010
Reg
ion
al S
ize
(B t
on
nes
)
Vinyls 100% acrylic Styrene acrylics
Global Latex Emulsions Market1
► Demand in China growing at >10%
► Diverse end-market segments
► Good value proposition versus competitive systems
► Meets low VOC requirements
Why China and Why Vinyls?
1Excludes SBR, other minor latexes & powders Sources: Kline Synthetic Latex Polymers Market Analysis Europe 2005, North America 2004 and China 2006. China 2010 data obtained from Kline and Celanese estimates.
1.8
0.7
1.3 1.4
26%
15%
32%
36%
27%
36%
35%
39%40%
53%
30%
30%
25%
11%
22%
CAGR
25
Chinese Market offers major growth opportunities
China Emulsions Market OverviewChina Production Volume
0
100
200
300
400
500
Adhesives Coatings Construction Nonwovens
(Dry
Ton
nes)
30%
15%
15%
15%
Expected Annual Growth Rate
Sources: Kline and SAI
26
Advanced Engineered Materials
27
96 %
4 %1
Standard Polymers
High Performance Polymers (HPP)Engineering Thermoplastics (ETP)
Global High Performance Polymer and Engineering Thermoplastics2006E: ~8 MM tons (2006E Growth = 6 %)
ABS, SAN, ASA: 4 %
PE = 34 % PP = 19 %
PET = 5 %
PU = 6 %
PVC = 17 % PS, EPS = 9 %
others = 3 %
1Comprising: PEEK (the top end of HPP and ETP pyramid), PA 6 & PA 66, PA 11 and PA 12, PC, POM, PBT, COPE, PET technical, PPE, COC & COP, UHMW-PE, PPS, LCP, High Performance Nylons, PEI, PES & PSU, PTFE & other fluoropolymers
Range of Products
Perf
orm
ance
€ 100 / kg€ 10 / kg€ 3 / kg
€ 1 / kg
Focus on High Performance Polymers and Thermoplastics
28Leading position in > 80 % of sales
Strong product portfolio
XXXXVectra®
(Liquid Crystal Polymer)
XXCelstran®
(Long fiber reinforced thermoplastics)
XXXXGUR®
(Ultra-high molecular weight PE)
XXXFortron®
(Polyphenylensulfide)
#1 or #2
X
X
Medical
X
Industrial
X
X
Electrical &
Electronics
X
X
Transportation
X
X
Consumer &
Appliance
Celanex®
(Polyester Engineering Resins)
Hostaform®
(Polyacetals)
Product
29
0 3,000 6,000 9,000 12,000 15,000 18,000
Spain
Brazil
Canada
France
South Korea
India
Germany
Japan
US
China
Continued focus on transportation penetration in China
Global Vehicle Production 2006 - 2012
Vehicle Production (units)
2006 Production Production Growth 2006 - 2012
Source: Global Insight
Advanced Engineered Materials Type of Resins
12
6
2.5
40
18
2001
Highest Current
2010E
2006E
China Current
Pounds per Vehicle
Source: Management Estimates
30
Most of GUR’s Global Target Markets are Being Commercialized in Asia
Sheet & Profile –Material Handling
ApplicationsAuto & Motorcycle
Batteries
Fibers for Security Applications & Abrasion
Resistant Films
Porous – Water Filtration
31
Appendix
32
Project delays continue to allow increasing demand to absorb new supply
Operational in 1Q 2006; expansion in July, 2006
Completed, explosion 3 days later
Start 2005150KTSOPO
Construction not yet begun; Expected mid-2009
Construction not yet begun
Start 2008 500KT BP/Sinopec
Commercial Production in 2Q 2006December 2005Early 2005 300KT BP/FPC
Construction under way; Pending Litigation; Startup expected Mid-2007
No sign of constructionStart 2005 200KT Wujing
Commercial Production in July, 2006
Rumored to have started commissioning
Start 2005150KTFanavaran
Commercial Production mid-2005Operational mid-2005Early 2005150KTBP/Yaraco
Expected Late 2009
Website states Q3 2008
NA
Now commercializing
CE Investor Day 2005 Comments
Expected Mid- 2007; replaces high cost capacity
Late 2006200KTDaqing
Commercial Production in 1Q 2006June 2005200KTLunan
Pending Litigation; Expected mid-2009
Start 2008425KTSipchem
Expected Late 20092009200KTHualu Hengsheng
CE Investor Day 2006 UpdatesOriginal DateCapacityCompany
33
Reg G: Reconciliation of Diluted Adjusted EPSAdjusted Earnings Per Share - Reconciliation of a Non-U.S. GAAP Measure
(in $ millions, except per share data) 2006 2005 2006 2005Earnings from continuing operations before tax and minority interests 174 158 664 374 Non-GAAP Adjustments: Other charges and other adjustments * (1) (51) 40 50 Refinancing costs - - - 102 Adjusted earnings from continuing operations before tax and minority interests 173 107 704 526 Income tax provision on adjusted earnings ** (43) (5) (186) (106)Minority interests (1) 4 (4) (37)Earnings from discontinued operations, net of tax and adjustments *** 4 (5) 1 1 Preferred dividends (2) (3) (10) (10)Adjusted net earnings available to common shareholders 131 98 505 374Add back: Preferred dividends 2 3 10 10Adjusted net earnings for diluted adjusted EPS 133 101 515 384
Diluted shares (millions)Weighted average shares outstanding 158.7 158.6 158.6 158.6Assumed conversion of Preferred Shares 12.0 12.0 12.0 12.0 Assumed conversion of stock options 1.8 0.9 1.2 0.9 Total diluted shares 172.5 171.5 171.8 171.5Adjusted EPS from continuing operations 0.75 0.63 2.99 2.23
Earnings per common share from discontinued operations, net of adjustments 0.02 (0.03) 0.01 0.01Adjusted EPS 0.77 0.60 3.00 2.24
* See Slide 35 for details
** The U.S. GAAP tax rate for the three months ended December 31, 2006 is 54% and twelve months ended December 31, 2006 is 38%. The company’s adjusted
tax rate for the three months ended December 31, 2006 is 25% and the resulting full year adjusted tax rate is 26%. The difference between our US GAAP
taxes and our adjusted taxes are due to: (i) the favorable impact of purchase accounting on our net operating losses ($59 million); (ii) the elimination of
discrete tax items not related to the current period ($6 million) and (iii) the elimination of tax related to a dividend from an equity investment not
included in earnings under US GAAP ($17 million).
*** Does not include gain on sale related to discontinued operations.
Twelve Months EndedDecember 31,
Three Months EndedDecember 31,
34
Reg G: Reconciliation of Diluted Adjusted EPSAdjusted Earnings Per Share - Reconciliation of a Non-U.S. GAAP Measure
(in $ millions, except per share data) 2007 2006 2007 2006Earnings (loss) from continuing operations before tax and minority interests (168) 134 3 251 Non-GAAP Adjustments: Other charges and other adjustments 1 115 37 166 61 Refinancing costs 256 - 254 - Adjusted earnings from continuing operations before tax and minority interests 203 171 423 312 Income tax provision on adjusted earnings 2 (57) (48) (118) (87)Minority interests - (1) - (1)Adjusted earnings from continuing operations 146 122 305 224Preferred dividends (3) (2) (5) (5)Adjusted net earnings available to common shareholders 143 120 300 219Add back: Preferred dividends 3 2 5 5Adjusted net earnings for adjusted EPS 146 122 305 224
Diluted shares (millions)Weighted average shares outstanding 156.9 158.6 158.1 158.6Assumed conversion of Preferred Shares 12.0 12.0 12.0 12.0 Assumed conversion of Restricted Stock 0.5 - 0.2 - Assumed conversion of stock options 5.2 1.5 4.2 1.4 Total diluted shares 174.6 172.1 174.5 172.0Adjusted EPS 0.84 0.71 1.75 1.301 See Slide 36 for details2 The adjusted tax rate for the three and six months ended June 30, 2007 is 28% based on the original full year 2007 guidance.
Six Months EndedJune 30,
Three Months EndedJune 30,
35
Reg G: Reconciliation of Other Charges and Other Adjustments
Other Charges: *
(in $ millions) 2006 2005 2006 2005Employee termination benefits 1 3 12 19 Plant/office closures (1) 5 (1) 20 Total restructuring - 8 11 39 Asset impairments - - 25 Insurance recoveries associated with plumbing cases (2) (30) (5) (34)Other - (1) 4 36 ** Total (2) (23) 10 66
Other Adjustments: ***
(in $ millions) 2006 2005 2006 2005Executive severance & legal costs related to Squeeze-Out 2 - 30 - Favorable impact on non-operating foreign exchange position - - - (14)Advisor monitoring fee - - - 10 Purchase accounting for inventories - (4) - 12 Business Optimization 8 - 12 - Settlement of transportation-related antitrust matters - (36) - (36) Gain on disposition of Acetate properties - (23) - (23) Loss on disposition of COC business - 35 - 35 Gain on disposal of investment (Pemeas) (11) - (11) - Other 2 - (1) - Total 1 (28) 30 (16)
Total other charges and other adjustments (1) (51) 40 50 * Previously described as Special Charges** Termination of advisor monitoring fee*** These items are included in net earnings but not included in other charges.
December 31, December 31,
Three Months Ended Twelve Months Ended
Three Months Ended Twelve Months Ended
December 31, December 31,
36
Reg G: Reconciliation of Other Charges and Other Adjustments
Other Charges:
(in $ millions) 2007 2006 2007 2006Employee termination benefits 25 9 25 11 Plant/office closures - 2 - - Total restructuring 25 11 25 11 Insurance recoveries associated with plumbing cases - (2) - (3)Long-term compensation triggered by Exit Event 74 - 74 - Asset impairments 3 - 3 - Ticona Kelsterbach relocation 3 - 3 - Other - 3 1 4 Total 105 12 106 12
Other Adjustments: 1
(in $ millions) 2007 2006 2007 2006Executive severance & other costs related to Squeeze-Out - 13 1 23 Ethylene Pipeline Exit - - 10 Business Optimization 3 - 5 - Foreign exchange loss related to refinancing transaction 9 - 9 - Discontinued Methanol production 2 (2) 12 31 26Other - - 4 - Total 10 25 60 49
Total other charges and other adjustments 115 37 166 61 1 These items are included in net earnings but not included in other charges.2 Adjusted earnings per share included earnings from its discontinued methanol production which was included in the company's 2007 guidance.
June 30, June 30,
Three Months Ended Six Months Ended
Three Months Ended Six Months Ended
June 30, June 30,
37
Reg G: Reconciliation of Operating EBITDASe
gmen
t Dat
a an
d R
econ
cilia
tion
of O
pera
ting
Prof
it (L
oss)
to O
pera
ting
EBIT
DA
-
a N
on-U
.S. G
AAP
Mea
sure
.
(in $
milli
ons)
20
0620
0520
0620
05N
et S
ales
Che
mic
al P
rodu
cts
1,18
41,
096
4,74
24,
299
Tec
hnic
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391
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7 A
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4017
618
0 O
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5969
257
144
Int
erse
gmen
t elim
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ions
(35)
(38)
(134
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Tota
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656
1,54
06,
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6,03
3
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***
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ctiv
ities
prim
arily
incl
udes
cor
pora
te s
ellin
g, g
ener
al a
nd a
dmin
istra
tive
expe
nses
and
the
resu
lts fr
om A
T P
last
ics
and
capt
ive
insu
ranc
e co
mpa
nies
.**
Inc
lude
s eq
uity
ear
ning
s fro
m a
ffilia
tes
and
othe
r inc
ome/
(exp
ense
), w
hich
is p
rimar
ily d
ivid
ends
from
cos
t inv
estm
ents
.**
* E
xclu
des
adju
stm
ents
to m
inor
ity in
tere
st, n
et in
tere
st, t
axes
, dep
reci
atio
n, a
mor
tizat
ion
and
disc
ontin
ued
oper
atio
ns.
Thre
e M
onth
s En
ded
Dec
embe
r 31,
Twel
ve M
onth
s En
ded
Dece
mbe
r 31,
38
Reg G: Reconciliation of Operating EBITDASe
gmen
t Dat
a an
d R
econ
cilia
tion
of O
pera
ting
Prof
it (L
oss)
to O
pera
ting
EBIT
DA
-
a N
on-U
.S. G
AA
P M
easu
re.
(in $
mill
ions
) 20
0720
0620
0720
06N
et S
ales
Che
mic
al P
rodu
cts
1,00
297
72,
004
1,91
4 T
echn
ical
Pol
ymer
s Ti
cona
257
230
519
461
Ace
tate
Pro
duct
s23
517
645
834
3 P
erfo
rman
ce P
rodu
cts
4748
9297
Oth
er A
ctiv
ities
158
6811
712
9 I
nter
segm
ent e
limin
atio
ns(4
3)(4
2)(7
9)(6
7)To
tal
1,55
61,
457
3,11
12,
877
Ope
ratin
g Pr
ofit
(Los
s) C
hem
ical
Pro
duct
s91
130
239
251
Tec
hnic
al P
olym
ers
Tico
na32
3868
79 A
ceta
te P
rodu
cts
2929
5852
Per
form
ance
Pro
duct
s16
1632
33 O
ther
Act
iviti
es 1
(97)
(61)
(120
)(1
07)
Tota
l71
152
277
308
Equi
ty E
arni
ngs
and
Oth
er In
com
e/(E
xpen
se) 2
Che
mic
al P
rodu
cts
1815
2223
Tec
hnic
al P
olym
ers
Tico
na16
1430
29 A
ceta
te P
rodu
cts
34
21
34
21 P
erfo
rman
ce P
rodu
cts
1
1
1
1
Oth
er A
ctiv
ities
1(2
)(4
)3
(3)
Tota
l67
4790
71
Oth
er C
harg
es a
nd O
ther
Adj
ustm
ents
3
Che
mic
al P
rodu
cts
30
2076
33 T
echn
ical
Pol
ymer
s Ti
cona
5
(2
)5
(4)
Ace
tate
Pro
duct
s8
-
9
-
P
erfo
rman
ce P
rodu
cts
-
-
-
-
Oth
er A
ctiv
ities
172
19
7632
Tota
l11
5
3716
661
Dep
reci
atio
n an
d Am
ortiz
atio
n Ex
pens
e C
hem
ical
Pro
duct
s37
4271
75 T
echn
ical
Pol
ymer
s Ti
cona
1716
3432
Ace
tate
Pro
duct
s9
516
12 P
erfo
rman
ce P
rodu
cts
44
88
Oth
er A
ctiv
ities
16
7
12
12
To
tal
7374
141
139
Ope
ratin
g EB
ITD
A C
hem
ical
Pro
duct
s17
620
740
838
2 T
echn
ical
Pol
ymer
s Ti
cona
7066
137
136
Ace
tate
Pro
duct
s80
5511
785
Per
form
ance
Pro
duct
s21
2141
42 O
ther
Act
iviti
es 1
(21)
(39)
(29)
(66)
Tota
l32
631
067
457
91 O
ther
Act
iviti
es p
rimar
ily in
clud
es c
orpo
rate
sel
ling,
gen
eral
and
adm
inis
trativ
e ex
pens
es
and
the
resu
lts fr
om A
T P
last
ics
and
capt
ive
insu
ranc
e co
mpa
nies
.2 I
nclu
des
equi
ty e
arni
ngs
from
affi
liate
s, d
ivid
ends
from
cos
t inv
estm
ents
and
oth
er in
com
e/(e
xpen
se)
3 E
xclu
des
adju
stm
ents
to m
inor
ity in
tere
st, n
et in
tere
st, t
axes
, dep
reci
atio
n, a
mor
tizat
ion
and
disc
ontin
ued
oper
atio
ns.
Thre
e M
onth
s En
ded
June
30,
Six
Mon
ths
Ende
dJu
ne 3
0,
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