DuPont de Nemours, Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>DuPont de Nemours, Inc. has filed its annual 10-K report for the fiscal year ended December 31, 2023, detailing its financial performance and business operations.</b>

AI Summary

DuPont de Nemours, Inc. (DD) filed a Annual Report (10-K) with the SEC on February 15, 2024. DuPont de Nemours, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 974 Centre Road, Building 730, Wilmington, DE 19805. DuPont de Nemours, Inc. was formerly known as DowDuPont Inc. until February 11, 2016. The filing includes references to various financial statement line items such as Allowance For Credit Losses and Inventory Valuation Reserve.

Why It Matters

For investors and stakeholders tracking DuPont de Nemours, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of DuPont's financial health, operational performance, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. The detailed financial data and disclosures within the report are essential for stakeholders to understand the company's financial position, including assets, liabilities, and equity, as well as its revenue streams and expenses.

Risk Assessment

Risk Level: — DuPont de Nemours, Inc. shows moderate risk based on this filing. The filing is a standard 10-K annual report, which typically contains a broad range of financial and operational information. Specific risks and their impact are detailed within the full report, but the filing itself does not highlight any immediate, severe risks.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand DuPont's performance and potential challenges in 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-15 — Filing Date (Filed as of date)
• 2016-02-11 — Date of Name Change (From DowDuPont Inc. to DuPont de Nemours, Inc.)

Key Players & Entities

• DuPont de Nemours, Inc. (company) — Filer name
• DowDuPont Inc. (company) — Former company name
• Wilmington (company) — Business address city
• DE (company) — Business address state

FAQ

Industry Context

DuPont de Nemours, Inc. operates in the chemicals industry, specifically focusing on plastics, materials, synthetic resins, and non-vulcanized elastomers.

Regulatory Implications

The filing is a standard 10-K annual report, subject to SEC regulations for public companies in the United States.

What Investors Should Do

1. Review the consolidated financial statements for the fiscal year ended December 31, 2023.
2. Examine the 'Risk Factors' section for potential challenges and uncertainties facing the company.
3. Analyze the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into business performance.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-15: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the 2023 10-K filing, providing the latest annual financial and operational data for DuPont de Nemours, Inc.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share DD New York Stock Exchange
• $1 billion — realize the anticipated benefits of the $1 billion share repurchase program announced on F
• $11 billion — re and DuPont received cash proceeds of $11 billion which was subject to transaction adjust
• $2.5 billion — November 2022, DuPont redeemed in full $2.5 billion in fixed-rate long term senior unsecure
• $5 billion — the repurchase and retirement of up to $5 billion of common stock, (the "$5B Share Buybac
• $5B — up to $5 billion of common stock, (the "$5B Share Buyback Program"). In the third q
• $3.25 billion — 3, the Company completed the repurchase $3.25 billion of its common stock through an accelera
• $3.25B — re repurchase ("ASR") transaction (the "$3.25B ASR Transaction") with $250 million of
• $250 million — ion (the "$3.25B ASR Transaction") with $250 million of such repurchases completing the $1 b
• $3 billion — are Buyback Program") and the remaining $3 billion under the $5B Share Buyback Program.
• $2 billion — erparties to repurchase an aggregate of $2 billion of common stock ("$2B ASR Transaction")
• $2B — gregate of $2 billion of common stock ("$2B ASR Transaction"). The accelerated repu
• $1B — up to $1 billion of common stock ("the $1B Program"). Under the $1B Program, repur
• $500 million — ounterparty for the repurchase of about $500 million of common stock. DuPont received initia
• $70 million — nts The Company invested approximately $70 million in its Electronics & Industrial segment

Filing Documents

• dd-20231231.htm (10-K) — 3612KB
• exhibit21123123.htm (EX-21) — 37KB
• exhibit23123123.htm (EX-23) — 3KB
• exhibit311123123.htm (EX-31.1) — 11KB
• exhibit312123123.htm (EX-31.2) — 11KB
• exhibit321123123.htm (EX-32.1) — 5KB
• exhibit322123123.htm (EX-32.2) — 5KB
• exhibit97.htm (EX-97) — 21KB
• dd-20231231_g1.jpg (GRAPHIC) — 35KB
• dd-20231231_g2.jpg (GRAPHIC) — 33KB
• dd-20231231_g3.jpg (GRAPHIC) — 32KB
• dd-20231231_g4.jpg (GRAPHIC) — 34KB
• dd-20231231_g5.jpg (GRAPHIC) — 132KB
• 0001666700-24-000008.txt (&nbsp;) — 22343KB
• dd-20231231.xsd (EX-101.SCH) — 126KB
• dd-20231231_cal.xml (EX-101.CAL) — 220KB
• dd-20231231_def.xml (EX-101.DEF) — 793KB
• dd-20231231_lab.xml (EX-101.LAB) — 1634KB
• dd-20231231_pre.xml (EX-101.PRE) — 1171KB
• dd-20231231_htm.xml (XML) — 4241KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 25 Item 2.

Properties

Properties 26 Item 3.

Legal Proceedings

Legal Proceedings 27 Item 4. Mine Safety Disclosures 27 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6. Reserved 29 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 56 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 57 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 57 Item 9A.

Controls and Procedures

Controls and Procedures 57 Item 9B. Other Information 57 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 57 PART III Item 10. Directors, Executive Officers and Corporate Governance 58 Item 11.

Executive Compensation

Executive Compensation 58 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 58 Item 13. Certain Relationships and Related Transactions, and Director Independence 58 Item 14. Principal Accountant Fees and Services 58 PART IV Item 15. Exhibits and Financial Statement Schedules 59 Item 16. Form 10-K Summary 61

SIGNATURES

SIGNATURES 62 3 Table of Contents DuPont de Nemours, Inc. DuPont TM and all products, unless otherwise noted, denoted with TM , SM or are trademarks, service marks or registered trademarks of affiliates of DuPont de Nemours, Inc.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," "stabilization," "confident," "preliminary," "initial," and similar expressions and variations or negatives of these words. All statements, other than statements of historical fact, are forward-looking statements, including statements regarding outlook. Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not guarantees of future results. Some of the important factors that could cause DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the possibility that the Company may fail to realize the anticipated benefits of the $1 billion share repurchase program announced on February 6, 2024 and that the program may be suspended, discontinued or not completed prior to its termination on June 30, 2025; (ii) risks and uncertainties related to the settlement agreement concerning PFAS liabilities reached June 2023 with plaintiff water utilities by Chemours, Corteva, EIDP and DuPont; (iii) risks and costs related to each of the parties respective performance under and the impact of the arrangement to share future eligible PFAS costs by and between DuPont, Corteva and Chemours, including the outcome of

BUSINESS

ITEM 1. BUSINESS Throughout this Annual Report on Form 10-K, except as otherwise noted by the context, the terms "DuPont" or "Company" used herein mean DuPont de Nemours, Inc. and its consolidated subsidiaries. DuPont is a Delaware corporation formed in 2015 (formerly, DowDuPont Inc.), for the purpose of effecting an all-stock merger of equals transactions between The Dow Chemical Company ("TDCC") and E. I. du Pont de Nemours and Company ("EID"). Effective August 31, 2017, pursuant to the merger of equals transaction contemplated by the Agreement and Plan of Merger, dated as of December 11, 2015, as amended on March 31, 2017 ("DWDP Merger Agreement"), TDCC and EID each merged with subsidiaries of DowDuPont Inc. ("DowDuPont") and, as a result, TDCC and EID became subsidiaries of DowDuPont (the "DWDP Merger"). Prior to the DWDP Merger, DowDuPont did not conduct any business activities other than those required for its formation and matters contemplated by the DWDP Merger Agreement. For purposes of DowDuPont's financial statement presentation, TDCC was determined to be the accounting acquirer in the DWDP Merger and EID's assets and liabilities are reflected at fair value as of the DWDP Merger Effectiveness Time. On April 1, 2019, the Company completed the separation of the materials science business through the spin-off of Dow Inc., ("Dow") including Dow's subsidiary TDCC (the "Dow Distribution"). On June 1, 2019, the Company completed the separation of the agriculture business through the spin-off of Corteva, Inc. ("Corteva") including Corteva's subsidiary EID, (the "Corteva Distribution and together with the Dow Distribution, the "DWDP Distributions"). Effective January 1, 2023, Corteva's subsidiary EID changed its name to EIDP, Inc. ("EIDP"), and therefore references to EID reflect this name change as appropriate. DuPont is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life by applying div

View Full Filing

View this 10-K filing on SEC EDGAR