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DuPont Third Quarter 2014 Earnings 
Conference Call 
October 28, 2014
1 
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; 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 non-strategic 
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.
3Q 2014 Financial Highlights* 
$ in millions, except EPS 
2 
3Q14 vs. 3Q13 YTD14 
vs. 
YTD13 
EPS* 
Operating earnings** $0.54 20% $3.29 0% 
GAAP earnings $0.47 68% $3.17 11% 
3Q14 vs. 3Q13 YTD14 
vs. 
YTD13 
Consolidated Net Sales* $7,511 (3%) $27,345 (2%) 
Volume 1% - 
Local Prices (1%) (1%) 
Currency Impact - - 
Portfolio (3%) (1%) 
Segment Operating Earnings** $923 8% $4,941 (1%) 
* Amounts reflect continuing operations 
** See appendix for reconciliations of Non-GAAP Measures
3Q 2014 Segment Operating Earnings* Variance 
3 
$30 
Segment 
Operating 
Earnings* 
Key Takeaways 
$7 
$853 
$923 
Segment 
Operating 
Earnings* 
• Safety & Protection delivered strong results due to continued productivity 
• Nutrition & Health benefited from higher volume coupled with lower raw material costs 
• Other reflects lower expenses associated with previously divested businesses 
* See appendix for details of significant items and reconciliation of Non-GAAP Measures 
$2 
$24 
$19 
$3 ($3) ($12) 
3Q13 S&P N&H Ag Perf Mtls IB E&C Perf Chem Other 3Q14
Global Sales – Regional Highlights 
4 
U.S. & Canada 
32% 
Developing 
EMEA 
6% 
Developed 
EMEA 
17% 
Latin America 
19% 
Developed 
Developing 
Asia 
16% 
Asia 
10% 
Region % 
Worldwide -3% 
U.S. & Canada -5% 
Developed EMEA -3% 
Developed Asia -4% 
Developing Markets -1% 
Developing Asia +4% 
Developing EMEA -7% 
Latin America -2% 
3Q 2014 Sales by Region 
3Q 2014 Sales YOY % Change
3Q 2014 Operating EPS* Variance 
5 
$0.45 
Operating* 
EPS 
$0.09 ($0.03) $0.01 $0.01 $0.01 
Key Takeaways 
• Segment earnings, excluding portfolio changes were up $0.09. 
• Portfolio changes include the sale of GLS/Vinyls, the Sontara® nonwovens and Stonetech® professional care 
products businesses, along with the disposition of the aniline Baytown plant and a joint venture 
• Lower interest expense, taxes and the benefit of lower shares outstanding contributed $0.03 
• The base tax rate* was 18.5% in the quarter. Expect full year base tax rate* to be about 21% 
* See appendix for details of significant items and reconciliation of Non-GAAP Measures 
$0.54 
Operating* 
EPS 
3Q13 Segment results Portfolio changes Interest Exp Taxes Lower shares 3Q14
Balance Sheet and Cash 
September 30, 2014 
6 
Free Cash Flow 
• ~$0.4B improvement YOY 
• Lower tax payments from the 2013 sale of 
Performance Coatings 
Balance Sheet 
• $8.6B net debt** 
• $2.0B in share repurchases/prepayments YTD – 
about 28 million shares retired 
Free Cash Flow for Full Year 2014 
• 4Q seasonal Ag cash inflow 
• CapEx spend est. $1.9B FY 2014 
• Continued growth investments; in line with strategy 
0.0 
-1.0 
-2.0 
-3.0 
-4.0 
Free Cash Flow* 
YTD 13 YTD 14 
$ Billions 
16 
12 
8 
4 
0 
Cash and Debt 
Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 
$ Billions 
Gross Debt Cash Net Debt** 
* Free Cash Flow is cash used for operating activities of ($1,802MM) and ($2,333MM) less purchases of plant, property and equipment of $1,311MM and $1,223MM for the 
nine months ended September 30, 2014 and 2013, respectively. 
** See appendix for reconciliation of Non-GAAP measures.
Other Financial Highlights 
7 
• Redesign initiative on track and contributed $0.02 per share to operating earnings in 
the quarter 
• On track to complete Performance Chemicals separation in mid 2015; Initial Form 10 
filing anticipated December 2014 
• 2014 Full Year Operating EPS* outlook expected to be within our range of $4.00 to 
$4.10 per share despite headwinds 
* See appendix for details of significant items and reconciliation of Non-GAAP Measures
Safety & Protection 
Protection Technologies (DPT), Building Innovations (BI), Sustainable 
Solutions (DSS) 
8 
1.2 
1.0 
0.8 
0.6 
0.4 
0.2 
0.0 
3Q Sales* 
3Q12 3Q13 3Q14 
$ in Billions 
3Q Operating Earnings** 
3Q12 3Q13 3Q14 
25% 
20% 
15% 
10% 
5% 
0% 
250 
200 
150 
100 
50 
0 
Margin 
$ in Millions 
3Q Comments 
• Sales of ~$1B down 1% due primarily to a portfolio 
change 
• Higher volumes in industrial markets for Kevlar® aramid 
fiber and Nomex® thermal resistant fiber 
• Improved sales for Kevlar® in transportation, industrial 
applications. Nomex® thermal industrial and automotive 
applications growth fueled the quarter 
• Operating margins up over 300 basis points 
• Operating earnings up 18% due to higher margins, 
improved volume and sustained productivity gains 
4Q Outlook 
• Sales expected to be up in the mid-single-digit percent 
range reflecting continuing demand growth in global 
industrial markets 
• Demand improvement led by Asia and North America 
• 4Q operating earnings up in the high-single-digit 
percent range driven by higher operating margins and 
sustained operational productivity 
* Segment sales include transfers. 
**See appendix for reconciliation of non-GAAP measures.
Nutrition & Health 
9 
1.0 
0.8 
0.6 
0.4 
0.2 
0.0 
3Q Sales* 
3Q12 3Q13 3Q14 
$ in Billions 
3Q12 3Q13 3Q14 
120 
100 
80 
60 
40 
20 
* Segment sales include transfers. 
**See appendix for reconciliation of non-GAAP measures. 
12% 
9% 
6% 
3% 
0% 
0 
Margin 
$ in Millions 
3Q Comments 
• Sales were 4% higher from volume growth in specialty 
proteins, probiotics and cultures and continued momentum 
in enablers 
• Operating earnings of $100 million increased 23% from 
higher sales, mix enrichment, productivity actions and 
lower raw material costs. 
• Fifth consecutive quarter of year-over-year operating 
margin improvement 
4Q Outlook 
• Expect low-single-digit percent sales growth from broad-based 
volume gains offsetting headwinds in Western 
Europe and from currency 
• Operating earnings are expected to be up in the mid-single- 
digits percent range on sales growth, improved mix, 
productivity actions and lower raw material costs 
3Q Operating Earnings**
Agriculture 
Pioneer, Crop Protection 
10 
2.0 
1.5 
1.0 
0.5 
0.0 
3Q Sales* 
3Q12 3Q13 3Q14 
$ in Billions 
3Q12 3Q13 3Q14 
0.0% 
-2.5% 
-5.0% 
-7.5% 
-10.0% 
0 
-25 
-50 
-75 
-100 
Margin 
$ in Millions 
4Q Outlook 
• Continued challenging Ag environment and weaker 
currencies 
• Sales expected to be about flat 
• Continued volume growth in Crop Protection 
• Lower corn seed price in Brazil and negative impact of 
currency 
• Operating earnings are expected to be positive and similar to 
or above the prior year’s fourth quarter 
* Segment sales include transfers. 
**See appendix for reconciliation of non-GAAP measures. 
3Q Comments 
• Challenging Ag environment with declining commodity prices 
and lower corn-planted area 
• 3Q sales were 4% lower 
• Volume growth from new product launches in 
insecticides and fungicides was more than offset by 
lower corn seed and herbicide volumes 
• Lower corn seed price and a negative impact from 
currency 
• 3Q seasonal operating loss of $55 million slightly better than 
last year and in-line with expectations 
• Lower seed input costs and operating cost 
improvements were partially offset by lower sales and 
the absence of a $26 million gain in the prior period 
3Q Operating Earnings**
Performance Materials*** 
Performance Polymers (DPP), Packaging & Industrial Polymers (P&IP) 
11 
2.0 
1.6 
1.2 
0.8 
0.4 
0.0 
3Q Sales* 
3Q12 3Q13 3Q14 
$ in Billions 
3Q Operating Earnings** 
3Q12 3Q13 3Q14 
25% 
20% 
15% 
10% 
5% 
0% 
375 
300 
225 
150 
75 
0 
Margin 
$ in Millions 
3Q Comments 
• Sales down 3% due to the impact of GLS/Vinyls sale 
• Operating earnings were up 1% on solid demand in 
automotive, construction and industrial demand. 
• Prior year period included a one time $30 million gain 
associated with a joint venture. Current period includes a 
$23 million gain from the sale of a majority interest in a 
joint venture. 
• Operating margins near 24% driven by favorable 
ethylene dynamics and continued benefits from 
productivity 
4Q Outlook 
• 4Q sales flat as volume growth is offset by portfolio 
changes 
• Consumer, construction, and food packaging volumes 
forecasted to remain stable 
• Automotive volumes anticipated to remain strong, led by 
US and China 
• 4Q operating earnings increase in the high-teens-percent 
range on improved margins and mix 
* 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
Industrial Biosciences 
12 
0.4 
0.3 
0.2 
0.1 
0.0 
3Q Sales* 
3Q12 3Q13 3Q14 
$ in Billions 
3Q Operating Earnings** 
3Q12 3Q13 3Q14 
15.0% 
14.5% 
14.0% 
13.5% 
13.0% 
60 
50 
40 
30 
20 
10 
0 
Margin 
$ in Millions 
3Q Comments 
• Sales of $318 million up 4% on higher volumes 
• Continued solid enzyme demand in ethanol, food and 
animal nutrition segments 
• Sorona® polymer sales flat on lower demand for 
residential carpet partially offset by increased sales in 
apparel 
• Operating earnings up 4% due to higher volumes 
4Q Outlook 
• 4Q sales up in the mid-single-digit percent range above 
the prior years record revenue 
• Solid enzyme demand in ethanol, animal nutrition, and 
food enzyme markets 
• 4Q operating earnings up substantially on richer mix, 
higher sales and improved product costs 
* Segment sales include transfers. 
**See appendix for reconciliation of non-GAAP measures.
Electronics & Communications 
13 
1.0 
0.8 
0.6 
0.4 
0.2 
0.0 
3Q Sales* 
3Q12 3Q13 3Q14 
$ in Billions 
3Q12 3Q13 3Q14 
16% 
12% 
8% 
4% 
0% 
125 
100 
75 
50 
25 
0 
Margin 
$ in Millions 
3Q Comments 
• Sales were 2% lower as volume growth in several 
product lines was more than offset by competitive 
pressures impacting Solamet® paste 
• Operating earnings of $94 million were $3 million lower 
as lower sales and a decrease in other income were 
partially offset by productivity gains 
4Q Outlook 
• Global photovoltaic module installations are expected 
to grow fueled by installations in China 
• Anticipate the photovoltaic paste market will remain 
competitive and expect continued strength in consumer 
electronics 
• Fourth quarter sales are expected to be down in the 
low-single digit percent range primarily due to metals 
pricing with operating earnings up in the mid-single-digits 
percent range. 
3Q Operating Earnings** 
* Segment sales include transfers. 
**See appendix for reconciliation of non-GAAP measures.
Performance Chemicals*** 
Titanium Technologies (DTT), Chemical & Fluoroproducts (DC&F) 
14 
2.0 
1.5 
1.0 
0.5 
0.0 
3Q Sales* 
3Q12 3Q13 3Q14 
$ in Billions 
3Q Operating Earnings** 
3Q12 3Q13 3Q14 
36% 
30% 
24% 
18% 
12% 
6% 
0% 
700 
600 
500 
400 
300 
200 
100 
0 
Margin 
$ in Millions 
3Q Comments 
• Sales of $1.6 billion were down 8% due primarily to a 
portfolio change 
• Lower segment prices, principally Ti02 and fluoroproducts, 
impacted operating earnings 
• Ti02 volumes were down 2% and prices were down 3% from 
the prior year. Price down 1% on a sequential basis 
• Operating earnings down 5% primarily due to lower 
segment prices 
4Q Outlook 
• 4Q sales growth in the low single digit percent range 
• Ti02 industry environment relatively stable, customer and 
producer inventory levels near normal 
• Chemicals and Fluoroproducts volumes expected to grow 
• 4Q operating earnings up in the high-teens-percent range 
on improved volumes and productivity measures 
* 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
APPENDIX 1: 
THIRD QUARTER 2014 SEGMENT COMMENTARY 
This data should be read in conjunction with the Company’s third quarter earnings news 
release dated October 28, 2014 and DuPont’s 3Q 2014 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. 
10/27/2014 15
Segment Commentary 
Third Quarter Earnings 2014 
16 
Safety & Protection 
Sales of $1 billion were down 1 percent as higher volumes in industrial markets were more than offset 
by the loss of sales due to a portfolio change. Improved Nomex® thermal resistant fiber and Kevlar® 
aramid fibers demand was partially offset by lower sales in Clean Technologies offerings. 
Kevlar® demand growth was driven by increased sales into transportation, industrial, and wire & cable 
sectors while Nomex® demand growth was fueled by thermal industrial and automotive applications. 
Regionally, sales volume growth in Asia Pacific and the United States was offset by lower volumes in 
Latin America and Europe. 
Third quarter segment operating earnings of $201 million increased 18 percent and operating earnings 
margins increased over 300 basis points. Operating earnings are benefiting from improved margins, 
enriched mix, increased demand from industrial markets and continued benefits from cost productivity. 
In the fourth quarter, we anticipate sales growth in the mid-single-digit percent range and earnings 
growth in the high-single-digit percent range on higher operating margins and sustained operational 
productivity.
Segment Commentary 
Third Quarter Earnings 2014 
17 
Nutrition & Health 
This was another strong quarter for our Nutrition & Health segment. Sales were up 4 percent led by 
volume growth in specialty proteins, probiotics and cultures and continued momentum in enablers. 
We continue to expand in emerging markets, growing segment sales 10 percent in the quarter. 
Operating earnings were up 23 percent to $100 million from higher sales and operating margin 
improvement due to mix enrichment, productivity actions and lower raw material costs. This was the 
fifth consecutive quarter of year-over-year operating margin improvement. 
In the fourth quarter, we expect low-single-digit percent sales growth from broad-based volume gains 
including continued growth in emerging markets. This is expected to be partially offset by headwinds 
in Western Europe, which remains weak from repercussions of the Russia food import ban, and a 
negative impact from currency. Operating earnings are expected to be up in the mid-single-digits 
percent range on sales growth, improved mix, productivity actions and lower raw material costs.
Segment Commentary 
Third Quarter Earnings 2014 
18 
Agriculture 
In our Agriculture segment, third quarter results are largely driven by the summer growing season in 
Latin America. A seasonal operating loss of $55 million was slightly better than the prior year and in line 
with our expectations heading into the quarter, despite an increasingly challenging environment in 
Agriculture. During the quarter we saw a further decline in corn and soybean commodity prices as 
farmers in North America anticipate a record harvest. Sales for the quarter were 4 percent below the 
prior year as volume growth in insecticides and fungicides, mainly in Latin America, was more than 
offset by lower corn seed and herbicide volumes. Price for the segment was down 2 percent resulting 
from lower corn seed prices in Brazil, as anticipated, and the negative impact of currency, primarily the 
Real. In segment operating earnings, lower seed input costs and operating cost improvements were 
partially offset by the lower sales and the absence of a prior year $26 million gain resulting from the 
acquisition of a controlling interest in Pannar. 
Crop protection sales for the quarter grew 10 percent led by volume growth in Latin America in 
insecticides and fungicides bolstered by new product launches. Sales of Rynaxypyr® insect control 
continue to grow as we successfully launched Dermacor® seed treatment for soybeans in Brazil for the 
summer planting season. In addition, we were granted an emergency early registration for Cyazypyr™ 
insect control on coffee, which we successfully launched in the third quarter. We also continue to see 
growth in our picoxystrobin fungicides, despite a very competitive market. Herbicide volumes were
Segment Commentary 
Third Quarter Earnings 2014 
19 
Agriculture (continued) 
lower during the quarter, particularly in North America, as growers reduced some applications and 
distributor inventories remain elevated. 
Moving to the seed business, third quarter sales declined 16 percent as corn planted area continues to 
fall driven by declining commodity prices and economics which favor planting soybeans over corn. This 
is evident in Brazil where we expect summer corn plantings in the hybrid market to be reduced further 
than our previous expectations. In addition, we are also seeing reductions in corn planted area in South 
Africa and parts of Asia. Corn seed pricing in Brazil was also lower, as expected, reflecting price card 
changes to products containing the Herculex® 1 insect trait1. 
As we wrap up the 2014 North America growing season, the USDA won't issue final 2014 acreage until 
January of next year. However, based upon the October preliminary estimate of 90.9 million acres, North 
America corn market share likely declined between one and two points in 2014 following strong gains in 
2013 and over the past several seasons. In soybeans in North America, 2014 market share is expected 
to be between one and two points lower in 2014 as we continue to transition our line-up to new, higher 
performing Pioneer T Series varieties and launch products containing the Genuity® Roundup Ready 2 
Yield® trait2. 
1Herculex® is a registered trademark of Dow AgroSciences LLC; 2Genuity® Roundup Ready® is a registered trademark of Monsanto
Segment Commentary 
Third Quarter Earnings 2014 
20 
Agriculture (continued) 
Turning to the outlook, the fourth quarter in Agriculture is driven by the completion of the Brazil 
summer season and shipments to position product for the upcoming Safrinha season in Brazil and for 
the 2015 Northern hemisphere season. The operating environment will continue to be challenging as 
farmer net income and corn planted area remain under pressure across the globe. In addition, a 
stronger US dollar against the Real, Euro and Rand will likely create further headwinds to sales and 
operating earnings. In the fourth quarter, we expect sales to be about flat. For the segment, we 
expect continued growth in crop protection volumes. Gains in volume are expected to be offset by 
lower corn seed price in Brazil and the negative impacts of currency. Operating earnings are expected 
to be positive for the second year in a row, and similar to or above the prior year’s fourth quarter. 
As we begin to look forward to the 2015 season, we are pleased with what our customers are seeing 
during the corn and soybean harvest and will provide further details on Pioneer brand competitive 
performance in the next few weeks. The broad scale launch of our Encirca(SM) Yield service with 
nitrogen management has exceeded our expectations as growers look to maximize profitability on 
every acre. In crop protection, performance of our new product launches in customer fields is very 
encouraging. While it is too early to speak to planted area or earnings expectations for next year, we 
do anticipate 2015 will be a dynamic, challenging year for farmers given reduced net cash income and 
growing global grain stocks following this year’s harvest. However, we remain confident in the long-term 
fundamentals for sustainable demand growth in Agriculture.
Segment Commentary 
Third Quarter Earnings 2014 
21 
Performance Materials 
Sales were down 3 percent due to the impact of the sale of GLS/Vinyls. Absent the portfolio change, 
volumes and prices increased across the segment. 
Operating earnings were up 1 percent on solid demand in automotive, construction, and industrial 
demand. Earnings growth was tempered due to a portfolio change and the prior year’s results included 
a $30 million gain associated with a joint venture. 
Favorable market fundamentals in ethylene paired with a $23 million gain in the quarter resulting from 
the sale of our interest in a joint venture helped overcome the portfolio headwind associated with the 
sale of GLS/Vinyls. Ethylene margins in the quarter were at record levels driven by high ethylene 
prices and low cost ethane. Total segment operating margins were near 24 percent, fueled by 
favorable ethylene dynamics and the continued benefit of productivity measures. 
Volume in Performance Polymers increased in the low-single-digits on solid demand from the 
automotive sector in North America. Demand in Europe and China was softer in the quarter as 
inventory levels were adjusted during the quarter. 
In the fourth quarter, we anticipate flat sales as the impact of portfolio changes offsets anticipated 
volume growth. We expect operating earnings percent growth in the high teens on improved margins 
and mix.
Segment Commentary 
Third Quarter Earnings 2014 
22 
Industrial Biosciences 
Industrial Biosciences sales of $318 million were 4 percent higher on continued solid enzyme demand 
for ethanol production. Operating earnings of $47 million were up 4 percent, primarily driven by higher 
volumes. 
Ethanol industry fundamentals remained favorable during the quarter which drove increased demand 
for DuPont’s novel enzymes and other functional bio products designed to increase production rates, 
yield and efficiency. Looking forward, enzyme demand for ethanol production will likely remain strong 
but margins for ethanol producers are transitioning off the peaks from the first half of 2014. 
In other key end markets, demand was mixed. Sales of Sorona® polymer for carpeting were flat due to 
softer demand in existing home sales, partially offset by increased sales of Sorona® in apparel. We 
continue to see solid demand for Axtra® PHY in animal nutrition and healthy food enzyme growth. 
For the fourth quarter, we expect sales revenue will be up in the mid-single-digit percent range above 
the prior year’s record revenue. Fourth quarter operating earnings are expected to be up substantially 
on a richer mix, higher sales, and improved product costs.
Segment Commentary 
Third Quarter Earnings 2014 
23 
Electronics & Communications 
Sales in Electronics & Communications were 2 percent lower in the quarter. Volume growth in several 
product lines was more than offset by competitive pressures impacting Solamet® paste. Operating 
earnings of $94 million were $3 million lower as lower sales and a decrease in other income were 
partially offset by productivity gains. 
Segment results were negatively impacted by declines in Solamet® paste, as intense competition has 
impacted price and share in this business. In the fourth quarter, we expect to launch a new, 
advantaged paste product for the PV market. The photovoltaic market continues to be an attractive 
space for DuPont. We are the market and technology leader and are driving a robust innovation 
pipeline aimed at furthering solar cell efficiency and module lifetime, which will support continued 
growth of the overall market. 
Looking ahead to the fourth quarter, global photovoltaic module installations are expected to grow 
fueled by installations in China. We anticipate the photovoltaic paste market will remain competitive 
offset by continued strength in consumer electronics. Fourth quarter sales are expected to be down in 
the low-single-digit percent range primarily due to lower metals pricing with operating earnings up in 
the mid-single-digits percent range.
Segment Commentary 
Third Quarter Earnings 2014 
24 
Performance Chemicals 
Segment sales of approximately $1.6 billion were down 8 percent due primarily to a portfolio change in 
Chemicals and Fluoroproducts. Prices for the segment were lower in aggregate with slightly higher 
volumes in Chemicals and Fluoroproducts offset by lower volumes in Ti02. Operating Earnings were 
down 5 percent primarily due to lower segment prices. 
In Titanium Technologies, volumes were down 2 percent from the prior year, due primarily to slower 
demand from economic challenges in Europe. Year-to-date Ti02 volume has improved 2 percent vs 
the prior year. Despite gradual improvement in industry fundamentals, Ti02 prices were down 1 
percent sequentially and 3 percent on a year over year basis. We believe our customer’s inventory 
levels are stable and producer levels remain essentially unchanged. 
In Chemicals and Fluoroproducts, volumes were up about 2 percent with prices down 2 percent due 
primarily to competitive pressures. Lower prices in refrigerants were partially offset by strong demand 
for Opteon® yf in automotive air conditioning, particularly in Europe. 
In the fourth quarter, we anticipate low-single-digit percent sales growth and operating earnings growth 
in the high-teens-percent range on improved volumes and productivity measures.
Appendix 2: Supplemental Quarterly Information and 
Reconciliations of Non-GAAP Measures
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES 
QUARTERLY SUPPLEMENTAL FINANCIAL DATA AND NON-GAAP RECONCILIATIONS 
(UNAUDITED) 
SEPTEMBER 30, 2014 
INDEX PAGE 
SELECTED OPERATING RESULTS 27 
SELECTED INCOME STATEMENT DATA 28 
SEGMENT SALES 29 
SEGMENT PRETAX OPERATING INCOME 30 
SEGMENT OPERATING EARNINGS 31 
SIGNIFICANT ITEMS BY SEGMENT - PRETAX OPERATING INCOME 32 
RECONCILIATION OF NON-GAAP MEASURES 33-35 
RECONCILIATION OF BASE INCOME TAX RATE TO EFFECTIVE INCOME TAX RATE 36 
Note: Management believes that an analysis of operating earnings (as defined on page 27), 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. 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 26 10/28/2014
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES 
SELECTED OPERATING RESULTS (UNAUDITED) 
(dollars in millions) 
Year Year Year Year 
2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 
INCOME STATEMENT DATA 
Consolidated Net Sales 27,345 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 
Operating Earnings After Income Taxes (1) 3,054 497 1,085 1,472 3,632 558 426 1,189 1,459 3,566 193 405 1,421 1,547 3,790 
Significant Items - After-tax (48) (44) 8 (12) (423) (294) (71) (78) 20 (680) (91) (342) (215) (32) (237) 
Non-Operating Pension & OPEB Costs - After-tax (64) (20) (23) (21) (360) (81) (95) (85) (99) (439) (99) (106) (116) (118) (361) 
Income from Continuing Operations After Income Taxes 
Attributable to DuPont 2,942 433 1,070 1,439 2,849 183 260 1,026 1,380 2,447 3 (43) 1,090 1,397 3,192 
Depreciation 944 309 323 312 1,280 319 317 317 327 1,319 328 331 332 328 1,199 
STATEMENT OF CASH FLOW DATA (2) 
Cash (Used for) Provided by Operating Activities (1,802) 269 350 (2,421) 3,179 5,512 298 36 (2,667) 4,849 5,275 691 760 (1,877) 5,152 
Capital Expenditures (3) 1,348 544 462 342 1,940 674 478 449 339 1,890 720 460 407 303 1,910 
(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) Data is on a total company basis. 
(3) 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". 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 27 10/28/2014
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES 
SELECTED INCOME STATEMENT DATA 
OPERATING EARNINGS (UNAUDITED) 
(dollars in millions, except per share) 
Year Year Year Year 
2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 
Consolidated Net Sales 27,345 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 27,572 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) 4,941 923 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) 4,443 969 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) 5,681 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) 4,164 877 1,439 1,848 4,587 567 482 1,582 1,956 4,708 230 501 1,950 2,027 4,886 
Operating Earnings Per Share (1) (3) 3.29 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 
(1) See Reconciliation of Non-GAAP Measures. 
(2) Adjusted EBIT from operating earnings is operating earnings (as defined on page 27) 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". 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 28 10/28/2014
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES 
SEGMENT SALES (UNAUDITED) 
(dollars in millions) 
Year Year Year Year 
2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 
SEGMENT SALES 
Agriculture 9,572 1,563 3,615 4,394 11,739 1,806 1,633 3,631 4,669 10,426 1,535 1,423 3,388 4,080 9,166 
Electronics & Communications 1,820 623 617 580 2,549 642 638 653 616 2,701 622 607 795 677 3,173 
Industrial Biosciences 936 318 317 301 1,224 326 305 304 289 1,180 300 292 300 288 705 
Nutrition & Health 2,686 899 926 861 3,473 872 868 865 868 3,422 853 876 885 808 2,460 
Performance Chemicals(1) 4,933 1,646 1,696 1,591 6,932 1,671 1,781 1,837 1,643 7,450 1,644 1,794 2,043 1,969 8,055 
Performance Materials(1) 4,668 1,552 1,582 1,534 6,239 1,521 1,602 1,615 1,501 6,185 1,478 1,552 1,624 1,531 6,554 
Safety & Protection 2,953 977 1,029 947 3,884 975 985 1,017 907 3,825 964 934 986 941 3,934 
Other 4 2 1 1 6 1 1 3 1 5 1 2 1 1 40 
Total Segment Sales 27,572 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 
Elimination of Transfers (227) (69) (77) (81) (312) (67) (78) (81) (86) (382) (72) (90) (105) (115) (406) 
CONSOLIDATED NET SALES 27,345 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) 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. 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 29 10/28/2014
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES 
INCOME FROM CONTINUING OPERATIONS (UNAUDITED) 
(dollars in millions) 
Year Year Year Year 
2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 
SEGMENT PRETAX OPERATING INCOME (LOSS) 
Agriculture 2,176 (55) 789 1,442 2,132 (108) (102) 861 1,481 1,669 (103) (198) 682 1,288 1,566 
Electronics & Communications 190 94 21 75 203 (38) 97 95 49 222 41 (99) 221 59 438 
Industrial Biosciences 160 47 57 56 170 41 45 43 41 159 41 37 42 39 2 
Nutrition & Health 290 100 97 93 305 87 81 61 76 270 22 64 105 79 76 
Performance Chemicals(1) 687 249 232 206 941 228 189 268 256 1,826 210 417 613 586 2,162 
Performance Materials(1) 1,328 370 665 293 1,264 278 367 332 287 1,073 263 223 325 262 1,031 
Safety & Protection 554 201 178 175 694 213 171 172 138 562 130 92 181 159 661 
Other (259) (83) (84) (92) (340) (91) (107) (55) (87) (412) (80) (75) (208) (49) (55) 
TOTAL SEGMENT PRETAX OPERATING INCOME 5,126 923 1,955 2,248 5,369 610 741 1,777 2,241 5,369 524 461 1,961 2,423 5,881 
Net Exchange (Losses) Gains 13 218 (109) (96) (128) (73) (101) 35 11 (215) (54) (130) 50 (81) (146) 
Non-Operating Pension & OPEBs Costs (94) (30) (34) (30) (539) (124) (142) (126) (147) (654) (147) (157) (174) (176) (540) 
Corporate Expenses (727) (232) (278) (217) (765) (183) (162) (206) (214) (948) (240) (233) (224) (251) (869) 
Interest Expense (290) (93) (94) (103) (448) (108) (108) (115) (117) (464) (117) (116) (117) (114) (447) 
INCOME (LOSS) FROM CONTINUING OPERATIONS 
BEFORE INCOME TAXES 4,028 786 1,440 1,802 3,489 122 228 1,365 1,774 3,088 (34) (175) 1,496 1,801 3,879 
(1,075) (352) (366) (357) (626) 61 35 (335) (387) (616) 38 135 (397) (392) (647) 
(Provision For) Benefit From Income Taxes 
on Continuing Operations 
INCOME (LOSS) FROM CONTINUING OPERATIONS 
AFTER INCOME TAXES 2,953 434 1,074 1,445 2,863 183 263 1,030 1,387 2,472 4 (40) 1,099 1,409 3,232 
(1) 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. 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 30 10/28/2014
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES 
OPERATING EARNINGS (UNAUDITED) 
(dollars in millions) 
Year Year Year Year 
2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 
SEGMENT OPERATING EARNINGS 
Agriculture 2,223 (55) 836 1,442 2,483 88 (62) 941 1,516 2,138 (77) (70) 947 1,338 1,791 
Electronics & Communications 258 94 89 75 334 93 97 95 49 259 43 58 99 59 438 
Industrial Biosciences 162 47 59 56 169 40 45 43 41 162 41 40 42 39 81 
Nutrition & Health 298 100 105 93 299 81 81 61 76 319 58 77 105 79 202 
Performance Chemicals(1) 706 249 251 206 1,015 230 261 268 256 1,862 243 420 613 586 2,162 
Performance Materials(1) 966 370 303 293 1,280 294 367 332 287 1,177 266 324 325 262 984 
Safety & Protection 585 201 209 175 690 209 171 172 138 620 133 147 181 159 661 
Other (257) (83) (82) (92) (345) (96) (107) (55) (87) (286) (91) (75) (71) (49) (27) 
TOTAL SEGMENT OPERATING EARNINGS 4,941 923 1,770 2,248 5,925 939 853 1,857 2,276 6,251 616 921 2,241 2,473 6,292 
Corporate Expenses (558) (171) (186) (201) (762) (191) (162) (195) (214) (864) (215) (174) (224) (251) (813) 
Interest Expense (290) (93) (94) (103) (448) (108) (108) (115) (117) (464) (117) (116) (117) (114) (447) 
4,093 659 1,490 1,944 4,715 640 583 1,547 1,945 4,923 284 631 1,900 2,108 5,032 
(867) (122) (347) (398) (983) (43) (111) (373) (456) (1,190) (61) (164) (460) (505) (1,137) 
OPERATING EARNINGS BEFORE INCOME TAXES 
AND EXCHANGE (LOSSES) GAINS 
Provision For Income Taxes on Operating Earnings, 
Excluding Taxes on Exchange Gains (Losses) 
Net After-tax Exhange (Losses) Gains (161) (39) (54) (68) (86) (39) (43) 19 (23) (142) (29) (59) (10) (44) (65) 
Less: Net Income Attr. to Noncontrolling Interests 11 1 4 6 14 - 3 4 7 25 1 3 9 12 40 
OPERATING EARNINGS 3,054 497 1,085 1,472 3,632 558 426 1,189 1,459 3,566 193 405 1,421 1,547 3,790 
Net Income Attributable to Noncontrolling Interests 11 1 4 6 14 - 3 4 7 25 1 3 9 12 40 
Non-Operating Pension & OPEB Costs - After-tax (64) (20) (23) (21) (360) (81) (95) (85) (99) (439) (99) (106) (116) (118) (361) 
Significant Items - After-tax (48) (44) 8 (12) (423) (294) (71) (78) 20 (680) (91) (342) (215) (32) (237) 
INCOME (LOSS) FROM CONTINUING OPERATIONS 
AFTER INCOME TAXES 2,953 434 1,074 1,445 2,863 183 263 1,030 1,387 2,472 4 (40) 1,099 1,409 3,232 
(1) 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. 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 31 10/28/2014
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 Year Year Year Year 
SIGNIFICANT ITEMS 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 
Agriculture (47) - (47) - (351) (196) (40) (80) (35) (469) (26) (128) (265) (50) (225) 
Electronics & Communications (68) - (68) - (131) (131) - - - (37) (2) (157) 122 - - 
Industrial Biosciences (2) - (2) - 1 1 - - - (3) - (3) - - (79) 
Nutrition & Health (8) - (8) - 6 6 - - - (49) (36) (13) - - (126) 
Performance Chemicals (19) - (19) - (74) (2) (72) - - (36) (33) (3) - - - 
Performance Materials 362 - 362 - (16) (16) - - - (104) (3) (101) - - 47 
Safety & Protection (31) - (31) - 4 4 - - - (58) (3) (55) - - - 
Other (2) - (2) - 5 5 - - - (126) 11 - (137) - (28) 
TOTAL SIGNIFICANT ITEMS 
BY SEGMENT - PRETAX 185 - 185 - (556) (329) (112) (80) (35) (882) (92) (460) (280) (50) (411) 
Note: The data above provides a historical display of significant items included in our Quarterly Earnings Release financials. 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 32 10/28/2014
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES 
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED) 
(dollars in millions, except per share) 
Year Year Year Year 
2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 
RECONCILIATION OF DILUTED EPS (1) 
Operating EPS 3.29 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 
Non-Operating Pension & OPEB Costs (0.07) (0.02) (0.03) (0.03) (0.39) (0.09) (0.09) (0.10) (0.11) (0.46) (0.11) (0.11) (0.12) (0.12) (0.39) 
Significant Items (0.05) (0.05) 0.01 (0.01) (0.45) (0.31) (0.08) (0.08) 0.02 (0.72) (0.09) (0.37) (0.23) (0.04) (0.25) 
GAAP EPS from continuing operations 3.17 0.47 1.15 1.54 3.04 0.19 0.28 1.10 1.47 2.59 - (0.05) 1.15 1.48 3.38 
RECONCILIATION OF SEGMENT PTOI 
Segment Operating Earnings 4,941 923 1,770 2,248 5,925 939 853 1,857 2,276 6,251 616 921 2,241 2,473 6,292 
Significant Items included in Segment PTOI 185 - 185 - (556) (329) (112) (80) (35) (882) (92) (460) (280) (50) (411) 
Segment PTOI 5,126 923 1,955 2,248 5,369 610 741 1,777 2,241 5,369 524 461 1,961 2,423 5,881 
RECONCILIATION OF ADJUSTED EBIT / ADJUSTED EBITDA TO CONSOLIDATED INCOME STATEMENTS 
Income From Continuing Operations Before Income Taxes 4,028 786 1,440 1,802 3,489 122 228 1,365 1,774 3,088 (34) (175) 1,496 1,801 3,879 
Add: Significant Items - Pretax - (Benefit) / Charge 42 61 (35) 16 559 321 112 91 35 966 117 519 280 50 467 
Add: Non-Operating Pension & OPEB Costs - Pretax 94 30 34 30 539 124 142 126 147 654 147 157 174 176 540 
Operating Earnings Before Income Taxes 4,164 877 1,439 1,848 4,587 567 482 1,582 1,956 4,708 230 501 1,950 2,027 4,886 
Less: Net Income Attributable to Noncontrolling Interests 11 1 4 6 14 - 3 4 7 25 1 3 9 12 40 
Add: Interest Expense 290 93 94 103 448 108 108 115 117 464 117 116 117 114 447 
Adjusted EBIT (Operating Earnings) 4,443 969 1,529 1,945 5,021 675 587 1,693 2,066 5,147 346 614 2,058 2,129 5,293 
Add: Depreciation and Amortization 1,238 358 443 437 1,603 387 379 404 433 1,631 394 393 417 427 1,451 
Adjusted EBITDA (Operating Earnings) 5,681 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 
(1) Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations. 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 33 10/28/2014
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES 
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED) 
(dollars in millions) 
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 3,982 4,174 3,782 8,941 7,005 6,685 6,555 4,284 3,418 3,506 3,410 3,586 
Marketable Securities 566 173 67 145 184 211 26 123 105 50 191 433 
Total Cash 4,548 4,347 3,849 9,086 7,189 6,896 6,581 4,407 3,523 3,556 3,601 4,019 
Short-Term Borrowings and Capital Lease Obligations 3,889 2,506 2,019 1,721 4,204 3,315 2,006 1,275 4,564 3,696 3,593 817 
Long-Term Borrowings and Capital Lease Obligations 9,279 9,292 9,298 10,741 10,755 10,765 11,279 10,465 10,502 11,254 11,232 11,736 
Total Debt 13,168 11,798 11,317 12,462 14,959 14,080 13,285 11,740 15,066 14,950 14,825 12,553 
Debt (Net of all Cash) 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 Year Year Year 
2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 
CALCULATION OF FREE CASH FLOW 
Cash (Used for) Provided by Operating Activities (1,802) 269 350 (2,421) 3,179 5,512 298 36 (2,667) 4,849 5,275 691 760 (1,877) 5,152 
Less: Purchases of Property, Plant and Equipment 1,311 530 461 320 1,882 659 466 436 321 1,793 654 443 395 301 1,843 
Free Cash Flow (3,113) (261) (111) (2,741) 1,297 4,853 (168) (400) (2,988) 3,056 4,621 248 365 (2,178) 3,309 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 34 10/28/2014
E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES 
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED) 
Year Year Year Year 
2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 
SEGMENT PTOI MARGIN % (PTOI / Segment Sales) (1) 
Agriculture 22.7% -3.5% 21.8% 32.8% 18.2% -6.0% -6.2% 23.7% 31.7% 16.0% -6.7% -13.9% 20.1% 31.6% 17.1% 
Electronics & Communications 10.4% 15.1% 3.4% 12.9% 8.0% -5.9% 15.2% 14.5% 8.0% 8.2% 6.6% -16.3% 27.8% 8.7% 13.8% 
Industrial Biosciences 17.1% 14.8% 18.0% 18.6% 13.9% 12.6% 14.8% 14.1% 14.2% 13.5% 13.7% 12.7% 14.0% 13.5% 0.3% 
Nutrition & Health 10.8% 11.1% 10.5% 10.8% 8.8% 10.0% 9.3% 7.1% 8.8% 7.9% 2.6% 7.3% 11.9% 9.8% 3.1% 
Performance Chemicals(2) 13.9% 15.1% 13.7% 12.9% 13.6% 13.6% 10.6% 14.6% 15.6% 24.5% 12.8% 23.2% 30.0% 29.8% 26.8% 
Performance Materials(2) 28.4% 23.8% 42.0% 19.1% 20.3% 18.3% 22.9% 20.6% 19.1% 17.3% 17.8% 14.4% 20.0% 17.1% 15.7% 
Safety & Protection 18.8% 20.6% 17.3% 18.5% 17.9% 21.8% 17.4% 16.9% 15.2% 14.7% 13.5% 9.9% 18.4% 16.9% 16.8% 
TOTAL SEGMENT PTOI MARGIN % 18.6% 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% 
SEGMENT OPERATING EARNINGS MARGIN % 
(Operating Earnings / Segment Sales) (1) 
Agriculture 23.2% -3.5% 23.1% 32.8% 21.2% 4.9% -3.8% 25.9% 32.5% 20.5% -5.0% -4.9% 28.0% 32.8% 19.5% 
Electronics & Communications 14.2% 15.1% 14.4% 12.9% 13.1% 14.5% 15.2% 14.5% 8.0% 9.6% 6.9% 9.6% 12.5% 8.7% 13.8% 
Industrial Biosciences 17.3% 14.8% 18.6% 18.6% 13.8% 12.3% 14.8% 14.1% 14.2% 13.7% 13.7% 13.7% 14.0% 13.5% 11.5% 
Nutrition & Health 11.1% 11.1% 11.3% 10.8% 8.6% 9.3% 9.3% 7.1% 8.8% 9.3% 6.8% 8.8% 11.9% 9.8% 8.2% 
Performance Chemicals(2) 14.3% 15.1% 14.8% 12.9% 14.6% 13.8% 14.7% 14.6% 15.6% 25.0% 14.8% 23.4% 30.0% 29.8% 26.8% 
Performance Materials(2) 20.7% 23.8% 19.2% 19.1% 20.5% 19.3% 22.9% 20.6% 19.1% 19.0% 18.0% 20.9% 20.0% 17.1% 15.0% 
Safety & Protection 19.8% 20.6% 20.3% 18.5% 17.8% 21.4% 17.4% 16.9% 15.2% 16.2% 13.8% 15.7% 18.4% 16.9% 16.8% 
17.9% 12.2% 18.1% 22.0% 16.4% 12.0% 10.9% 18.7% 21.7% 17.8% 8.3% 12.3% 22.4% 24.0% 18.5% 
TOTAL SEGMENT OPERATING EARNINGS MARGIN % 
(1) Segment PTOI / Operating Earnings margin %'s for Other 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. 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 35 10/28/2014
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 
September 30, Year ended December 31, 
Nine months ended 
September 30, 
2014 2013 2014 2013 2014 Outlook1 2013 Actual 
Effective income tax rate 26.7% 20.4% 44.8% (15.4%) 25.4% 17.9% 
Significant items effect and non-operating pension/OPEB costs effect (0.3%) 2.8% (1.6%) 26.4% 0.0%' 2.6% 
26.4% 23.2% 43.2% 11.0% 25.4% 20.5% 
Tax rate, from continuing operations, before significant items and 
non-operating pension/OPEB costs 
Exchange gains (losses) effect2 (5.2%) (0.1%) (24.7%) 8.0% (4.4%) 0.3% 
Base income tax rate from continuing operations 21.2% 23.1% 18.5% 19.0% 21.0% 20.8% 
1 - Represents the company's anticipated full year tax rates. 
2 - For the 2014 outlook, the effect of exchange gains (losses) on the company’s full year effective income tax rate reflects actual exchange gains (losses) from the nine 
months ended September 30, 2014 only. 
3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 36 10/28/2014
Copyright © 2014 DuPont or its affiliates. All rights reserved. 
The DuPont Oval Logo, DuPont™, The miracles of science™ 
and all products denoted with ™ or ® are registered trademarks or 
trademarks of E. I. du Pont de Nemours and Company or its affiliates. 
© 2014 DuPont or its affiliates. All rights reserved. 
Oval Logo, DuPont™, The miracles of science™ and all 
products, unless otherwise indicated, denoted with ™ or ® are 
registered trademarks or trademarks of E. I. du Pont de Nemours and 
Company or its affiliates. 
Images reproduced by E. I. du Pont de Nemours and Company under 
license from the National Geographic Society. 
Images reproduced by E. I. du Pont de Nemours and Company under 
license from the National Geographic Society. 
© National Geographic Image

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Du pont 3q14 slides final

  • 1. DuPont Third Quarter 2014 Earnings Conference Call October 28, 2014
  • 2. 1 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; 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 non-strategic 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.
  • 3. 3Q 2014 Financial Highlights* $ in millions, except EPS 2 3Q14 vs. 3Q13 YTD14 vs. YTD13 EPS* Operating earnings** $0.54 20% $3.29 0% GAAP earnings $0.47 68% $3.17 11% 3Q14 vs. 3Q13 YTD14 vs. YTD13 Consolidated Net Sales* $7,511 (3%) $27,345 (2%) Volume 1% - Local Prices (1%) (1%) Currency Impact - - Portfolio (3%) (1%) Segment Operating Earnings** $923 8% $4,941 (1%) * Amounts reflect continuing operations ** See appendix for reconciliations of Non-GAAP Measures
  • 4. 3Q 2014 Segment Operating Earnings* Variance 3 $30 Segment Operating Earnings* Key Takeaways $7 $853 $923 Segment Operating Earnings* • Safety & Protection delivered strong results due to continued productivity • Nutrition & Health benefited from higher volume coupled with lower raw material costs • Other reflects lower expenses associated with previously divested businesses * See appendix for details of significant items and reconciliation of Non-GAAP Measures $2 $24 $19 $3 ($3) ($12) 3Q13 S&P N&H Ag Perf Mtls IB E&C Perf Chem Other 3Q14
  • 5. Global Sales – Regional Highlights 4 U.S. & Canada 32% Developing EMEA 6% Developed EMEA 17% Latin America 19% Developed Developing Asia 16% Asia 10% Region % Worldwide -3% U.S. & Canada -5% Developed EMEA -3% Developed Asia -4% Developing Markets -1% Developing Asia +4% Developing EMEA -7% Latin America -2% 3Q 2014 Sales by Region 3Q 2014 Sales YOY % Change
  • 6. 3Q 2014 Operating EPS* Variance 5 $0.45 Operating* EPS $0.09 ($0.03) $0.01 $0.01 $0.01 Key Takeaways • Segment earnings, excluding portfolio changes were up $0.09. • Portfolio changes include the sale of GLS/Vinyls, the Sontara® nonwovens and Stonetech® professional care products businesses, along with the disposition of the aniline Baytown plant and a joint venture • Lower interest expense, taxes and the benefit of lower shares outstanding contributed $0.03 • The base tax rate* was 18.5% in the quarter. Expect full year base tax rate* to be about 21% * See appendix for details of significant items and reconciliation of Non-GAAP Measures $0.54 Operating* EPS 3Q13 Segment results Portfolio changes Interest Exp Taxes Lower shares 3Q14
  • 7. Balance Sheet and Cash September 30, 2014 6 Free Cash Flow • ~$0.4B improvement YOY • Lower tax payments from the 2013 sale of Performance Coatings Balance Sheet • $8.6B net debt** • $2.0B in share repurchases/prepayments YTD – about 28 million shares retired Free Cash Flow for Full Year 2014 • 4Q seasonal Ag cash inflow • CapEx spend est. $1.9B FY 2014 • Continued growth investments; in line with strategy 0.0 -1.0 -2.0 -3.0 -4.0 Free Cash Flow* YTD 13 YTD 14 $ Billions 16 12 8 4 0 Cash and Debt Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 $ Billions Gross Debt Cash Net Debt** * Free Cash Flow is cash used for operating activities of ($1,802MM) and ($2,333MM) less purchases of plant, property and equipment of $1,311MM and $1,223MM for the nine months ended September 30, 2014 and 2013, respectively. ** See appendix for reconciliation of Non-GAAP measures.
  • 8. Other Financial Highlights 7 • Redesign initiative on track and contributed $0.02 per share to operating earnings in the quarter • On track to complete Performance Chemicals separation in mid 2015; Initial Form 10 filing anticipated December 2014 • 2014 Full Year Operating EPS* outlook expected to be within our range of $4.00 to $4.10 per share despite headwinds * See appendix for details of significant items and reconciliation of Non-GAAP Measures
  • 9. Safety & Protection Protection Technologies (DPT), Building Innovations (BI), Sustainable Solutions (DSS) 8 1.2 1.0 0.8 0.6 0.4 0.2 0.0 3Q Sales* 3Q12 3Q13 3Q14 $ in Billions 3Q Operating Earnings** 3Q12 3Q13 3Q14 25% 20% 15% 10% 5% 0% 250 200 150 100 50 0 Margin $ in Millions 3Q Comments • Sales of ~$1B down 1% due primarily to a portfolio change • Higher volumes in industrial markets for Kevlar® aramid fiber and Nomex® thermal resistant fiber • Improved sales for Kevlar® in transportation, industrial applications. Nomex® thermal industrial and automotive applications growth fueled the quarter • Operating margins up over 300 basis points • Operating earnings up 18% due to higher margins, improved volume and sustained productivity gains 4Q Outlook • Sales expected to be up in the mid-single-digit percent range reflecting continuing demand growth in global industrial markets • Demand improvement led by Asia and North America • 4Q operating earnings up in the high-single-digit percent range driven by higher operating margins and sustained operational productivity * Segment sales include transfers. **See appendix for reconciliation of non-GAAP measures.
  • 10. Nutrition & Health 9 1.0 0.8 0.6 0.4 0.2 0.0 3Q Sales* 3Q12 3Q13 3Q14 $ in Billions 3Q12 3Q13 3Q14 120 100 80 60 40 20 * Segment sales include transfers. **See appendix for reconciliation of non-GAAP measures. 12% 9% 6% 3% 0% 0 Margin $ in Millions 3Q Comments • Sales were 4% higher from volume growth in specialty proteins, probiotics and cultures and continued momentum in enablers • Operating earnings of $100 million increased 23% from higher sales, mix enrichment, productivity actions and lower raw material costs. • Fifth consecutive quarter of year-over-year operating margin improvement 4Q Outlook • Expect low-single-digit percent sales growth from broad-based volume gains offsetting headwinds in Western Europe and from currency • Operating earnings are expected to be up in the mid-single- digits percent range on sales growth, improved mix, productivity actions and lower raw material costs 3Q Operating Earnings**
  • 11. Agriculture Pioneer, Crop Protection 10 2.0 1.5 1.0 0.5 0.0 3Q Sales* 3Q12 3Q13 3Q14 $ in Billions 3Q12 3Q13 3Q14 0.0% -2.5% -5.0% -7.5% -10.0% 0 -25 -50 -75 -100 Margin $ in Millions 4Q Outlook • Continued challenging Ag environment and weaker currencies • Sales expected to be about flat • Continued volume growth in Crop Protection • Lower corn seed price in Brazil and negative impact of currency • Operating earnings are expected to be positive and similar to or above the prior year’s fourth quarter * Segment sales include transfers. **See appendix for reconciliation of non-GAAP measures. 3Q Comments • Challenging Ag environment with declining commodity prices and lower corn-planted area • 3Q sales were 4% lower • Volume growth from new product launches in insecticides and fungicides was more than offset by lower corn seed and herbicide volumes • Lower corn seed price and a negative impact from currency • 3Q seasonal operating loss of $55 million slightly better than last year and in-line with expectations • Lower seed input costs and operating cost improvements were partially offset by lower sales and the absence of a $26 million gain in the prior period 3Q Operating Earnings**
  • 12. Performance Materials*** Performance Polymers (DPP), Packaging & Industrial Polymers (P&IP) 11 2.0 1.6 1.2 0.8 0.4 0.0 3Q Sales* 3Q12 3Q13 3Q14 $ in Billions 3Q Operating Earnings** 3Q12 3Q13 3Q14 25% 20% 15% 10% 5% 0% 375 300 225 150 75 0 Margin $ in Millions 3Q Comments • Sales down 3% due to the impact of GLS/Vinyls sale • Operating earnings were up 1% on solid demand in automotive, construction and industrial demand. • Prior year period included a one time $30 million gain associated with a joint venture. Current period includes a $23 million gain from the sale of a majority interest in a joint venture. • Operating margins near 24% driven by favorable ethylene dynamics and continued benefits from productivity 4Q Outlook • 4Q sales flat as volume growth is offset by portfolio changes • Consumer, construction, and food packaging volumes forecasted to remain stable • Automotive volumes anticipated to remain strong, led by US and China • 4Q operating earnings increase in the high-teens-percent range on improved margins and mix * 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
  • 13. Industrial Biosciences 12 0.4 0.3 0.2 0.1 0.0 3Q Sales* 3Q12 3Q13 3Q14 $ in Billions 3Q Operating Earnings** 3Q12 3Q13 3Q14 15.0% 14.5% 14.0% 13.5% 13.0% 60 50 40 30 20 10 0 Margin $ in Millions 3Q Comments • Sales of $318 million up 4% on higher volumes • Continued solid enzyme demand in ethanol, food and animal nutrition segments • Sorona® polymer sales flat on lower demand for residential carpet partially offset by increased sales in apparel • Operating earnings up 4% due to higher volumes 4Q Outlook • 4Q sales up in the mid-single-digit percent range above the prior years record revenue • Solid enzyme demand in ethanol, animal nutrition, and food enzyme markets • 4Q operating earnings up substantially on richer mix, higher sales and improved product costs * Segment sales include transfers. **See appendix for reconciliation of non-GAAP measures.
  • 14. Electronics & Communications 13 1.0 0.8 0.6 0.4 0.2 0.0 3Q Sales* 3Q12 3Q13 3Q14 $ in Billions 3Q12 3Q13 3Q14 16% 12% 8% 4% 0% 125 100 75 50 25 0 Margin $ in Millions 3Q Comments • Sales were 2% lower as volume growth in several product lines was more than offset by competitive pressures impacting Solamet® paste • Operating earnings of $94 million were $3 million lower as lower sales and a decrease in other income were partially offset by productivity gains 4Q Outlook • Global photovoltaic module installations are expected to grow fueled by installations in China • Anticipate the photovoltaic paste market will remain competitive and expect continued strength in consumer electronics • Fourth quarter sales are expected to be down in the low-single digit percent range primarily due to metals pricing with operating earnings up in the mid-single-digits percent range. 3Q Operating Earnings** * Segment sales include transfers. **See appendix for reconciliation of non-GAAP measures.
  • 15. Performance Chemicals*** Titanium Technologies (DTT), Chemical & Fluoroproducts (DC&F) 14 2.0 1.5 1.0 0.5 0.0 3Q Sales* 3Q12 3Q13 3Q14 $ in Billions 3Q Operating Earnings** 3Q12 3Q13 3Q14 36% 30% 24% 18% 12% 6% 0% 700 600 500 400 300 200 100 0 Margin $ in Millions 3Q Comments • Sales of $1.6 billion were down 8% due primarily to a portfolio change • Lower segment prices, principally Ti02 and fluoroproducts, impacted operating earnings • Ti02 volumes were down 2% and prices were down 3% from the prior year. Price down 1% on a sequential basis • Operating earnings down 5% primarily due to lower segment prices 4Q Outlook • 4Q sales growth in the low single digit percent range • Ti02 industry environment relatively stable, customer and producer inventory levels near normal • Chemicals and Fluoroproducts volumes expected to grow • 4Q operating earnings up in the high-teens-percent range on improved volumes and productivity measures * 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
  • 16. APPENDIX 1: THIRD QUARTER 2014 SEGMENT COMMENTARY This data should be read in conjunction with the Company’s third quarter earnings news release dated October 28, 2014 and DuPont’s 3Q 2014 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. 10/27/2014 15
  • 17. Segment Commentary Third Quarter Earnings 2014 16 Safety & Protection Sales of $1 billion were down 1 percent as higher volumes in industrial markets were more than offset by the loss of sales due to a portfolio change. Improved Nomex® thermal resistant fiber and Kevlar® aramid fibers demand was partially offset by lower sales in Clean Technologies offerings. Kevlar® demand growth was driven by increased sales into transportation, industrial, and wire & cable sectors while Nomex® demand growth was fueled by thermal industrial and automotive applications. Regionally, sales volume growth in Asia Pacific and the United States was offset by lower volumes in Latin America and Europe. Third quarter segment operating earnings of $201 million increased 18 percent and operating earnings margins increased over 300 basis points. Operating earnings are benefiting from improved margins, enriched mix, increased demand from industrial markets and continued benefits from cost productivity. In the fourth quarter, we anticipate sales growth in the mid-single-digit percent range and earnings growth in the high-single-digit percent range on higher operating margins and sustained operational productivity.
  • 18. Segment Commentary Third Quarter Earnings 2014 17 Nutrition & Health This was another strong quarter for our Nutrition & Health segment. Sales were up 4 percent led by volume growth in specialty proteins, probiotics and cultures and continued momentum in enablers. We continue to expand in emerging markets, growing segment sales 10 percent in the quarter. Operating earnings were up 23 percent to $100 million from higher sales and operating margin improvement due to mix enrichment, productivity actions and lower raw material costs. This was the fifth consecutive quarter of year-over-year operating margin improvement. In the fourth quarter, we expect low-single-digit percent sales growth from broad-based volume gains including continued growth in emerging markets. This is expected to be partially offset by headwinds in Western Europe, which remains weak from repercussions of the Russia food import ban, and a negative impact from currency. Operating earnings are expected to be up in the mid-single-digits percent range on sales growth, improved mix, productivity actions and lower raw material costs.
  • 19. Segment Commentary Third Quarter Earnings 2014 18 Agriculture In our Agriculture segment, third quarter results are largely driven by the summer growing season in Latin America. A seasonal operating loss of $55 million was slightly better than the prior year and in line with our expectations heading into the quarter, despite an increasingly challenging environment in Agriculture. During the quarter we saw a further decline in corn and soybean commodity prices as farmers in North America anticipate a record harvest. Sales for the quarter were 4 percent below the prior year as volume growth in insecticides and fungicides, mainly in Latin America, was more than offset by lower corn seed and herbicide volumes. Price for the segment was down 2 percent resulting from lower corn seed prices in Brazil, as anticipated, and the negative impact of currency, primarily the Real. In segment operating earnings, lower seed input costs and operating cost improvements were partially offset by the lower sales and the absence of a prior year $26 million gain resulting from the acquisition of a controlling interest in Pannar. Crop protection sales for the quarter grew 10 percent led by volume growth in Latin America in insecticides and fungicides bolstered by new product launches. Sales of Rynaxypyr® insect control continue to grow as we successfully launched Dermacor® seed treatment for soybeans in Brazil for the summer planting season. In addition, we were granted an emergency early registration for Cyazypyr™ insect control on coffee, which we successfully launched in the third quarter. We also continue to see growth in our picoxystrobin fungicides, despite a very competitive market. Herbicide volumes were
  • 20. Segment Commentary Third Quarter Earnings 2014 19 Agriculture (continued) lower during the quarter, particularly in North America, as growers reduced some applications and distributor inventories remain elevated. Moving to the seed business, third quarter sales declined 16 percent as corn planted area continues to fall driven by declining commodity prices and economics which favor planting soybeans over corn. This is evident in Brazil where we expect summer corn plantings in the hybrid market to be reduced further than our previous expectations. In addition, we are also seeing reductions in corn planted area in South Africa and parts of Asia. Corn seed pricing in Brazil was also lower, as expected, reflecting price card changes to products containing the Herculex® 1 insect trait1. As we wrap up the 2014 North America growing season, the USDA won't issue final 2014 acreage until January of next year. However, based upon the October preliminary estimate of 90.9 million acres, North America corn market share likely declined between one and two points in 2014 following strong gains in 2013 and over the past several seasons. In soybeans in North America, 2014 market share is expected to be between one and two points lower in 2014 as we continue to transition our line-up to new, higher performing Pioneer T Series varieties and launch products containing the Genuity® Roundup Ready 2 Yield® trait2. 1Herculex® is a registered trademark of Dow AgroSciences LLC; 2Genuity® Roundup Ready® is a registered trademark of Monsanto
  • 21. Segment Commentary Third Quarter Earnings 2014 20 Agriculture (continued) Turning to the outlook, the fourth quarter in Agriculture is driven by the completion of the Brazil summer season and shipments to position product for the upcoming Safrinha season in Brazil and for the 2015 Northern hemisphere season. The operating environment will continue to be challenging as farmer net income and corn planted area remain under pressure across the globe. In addition, a stronger US dollar against the Real, Euro and Rand will likely create further headwinds to sales and operating earnings. In the fourth quarter, we expect sales to be about flat. For the segment, we expect continued growth in crop protection volumes. Gains in volume are expected to be offset by lower corn seed price in Brazil and the negative impacts of currency. Operating earnings are expected to be positive for the second year in a row, and similar to or above the prior year’s fourth quarter. As we begin to look forward to the 2015 season, we are pleased with what our customers are seeing during the corn and soybean harvest and will provide further details on Pioneer brand competitive performance in the next few weeks. The broad scale launch of our Encirca(SM) Yield service with nitrogen management has exceeded our expectations as growers look to maximize profitability on every acre. In crop protection, performance of our new product launches in customer fields is very encouraging. While it is too early to speak to planted area or earnings expectations for next year, we do anticipate 2015 will be a dynamic, challenging year for farmers given reduced net cash income and growing global grain stocks following this year’s harvest. However, we remain confident in the long-term fundamentals for sustainable demand growth in Agriculture.
  • 22. Segment Commentary Third Quarter Earnings 2014 21 Performance Materials Sales were down 3 percent due to the impact of the sale of GLS/Vinyls. Absent the portfolio change, volumes and prices increased across the segment. Operating earnings were up 1 percent on solid demand in automotive, construction, and industrial demand. Earnings growth was tempered due to a portfolio change and the prior year’s results included a $30 million gain associated with a joint venture. Favorable market fundamentals in ethylene paired with a $23 million gain in the quarter resulting from the sale of our interest in a joint venture helped overcome the portfolio headwind associated with the sale of GLS/Vinyls. Ethylene margins in the quarter were at record levels driven by high ethylene prices and low cost ethane. Total segment operating margins were near 24 percent, fueled by favorable ethylene dynamics and the continued benefit of productivity measures. Volume in Performance Polymers increased in the low-single-digits on solid demand from the automotive sector in North America. Demand in Europe and China was softer in the quarter as inventory levels were adjusted during the quarter. In the fourth quarter, we anticipate flat sales as the impact of portfolio changes offsets anticipated volume growth. We expect operating earnings percent growth in the high teens on improved margins and mix.
  • 23. Segment Commentary Third Quarter Earnings 2014 22 Industrial Biosciences Industrial Biosciences sales of $318 million were 4 percent higher on continued solid enzyme demand for ethanol production. Operating earnings of $47 million were up 4 percent, primarily driven by higher volumes. Ethanol industry fundamentals remained favorable during the quarter which drove increased demand for DuPont’s novel enzymes and other functional bio products designed to increase production rates, yield and efficiency. Looking forward, enzyme demand for ethanol production will likely remain strong but margins for ethanol producers are transitioning off the peaks from the first half of 2014. In other key end markets, demand was mixed. Sales of Sorona® polymer for carpeting were flat due to softer demand in existing home sales, partially offset by increased sales of Sorona® in apparel. We continue to see solid demand for Axtra® PHY in animal nutrition and healthy food enzyme growth. For the fourth quarter, we expect sales revenue will be up in the mid-single-digit percent range above the prior year’s record revenue. Fourth quarter operating earnings are expected to be up substantially on a richer mix, higher sales, and improved product costs.
  • 24. Segment Commentary Third Quarter Earnings 2014 23 Electronics & Communications Sales in Electronics & Communications were 2 percent lower in the quarter. Volume growth in several product lines was more than offset by competitive pressures impacting Solamet® paste. Operating earnings of $94 million were $3 million lower as lower sales and a decrease in other income were partially offset by productivity gains. Segment results were negatively impacted by declines in Solamet® paste, as intense competition has impacted price and share in this business. In the fourth quarter, we expect to launch a new, advantaged paste product for the PV market. The photovoltaic market continues to be an attractive space for DuPont. We are the market and technology leader and are driving a robust innovation pipeline aimed at furthering solar cell efficiency and module lifetime, which will support continued growth of the overall market. Looking ahead to the fourth quarter, global photovoltaic module installations are expected to grow fueled by installations in China. We anticipate the photovoltaic paste market will remain competitive offset by continued strength in consumer electronics. Fourth quarter sales are expected to be down in the low-single-digit percent range primarily due to lower metals pricing with operating earnings up in the mid-single-digits percent range.
  • 25. Segment Commentary Third Quarter Earnings 2014 24 Performance Chemicals Segment sales of approximately $1.6 billion were down 8 percent due primarily to a portfolio change in Chemicals and Fluoroproducts. Prices for the segment were lower in aggregate with slightly higher volumes in Chemicals and Fluoroproducts offset by lower volumes in Ti02. Operating Earnings were down 5 percent primarily due to lower segment prices. In Titanium Technologies, volumes were down 2 percent from the prior year, due primarily to slower demand from economic challenges in Europe. Year-to-date Ti02 volume has improved 2 percent vs the prior year. Despite gradual improvement in industry fundamentals, Ti02 prices were down 1 percent sequentially and 3 percent on a year over year basis. We believe our customer’s inventory levels are stable and producer levels remain essentially unchanged. In Chemicals and Fluoroproducts, volumes were up about 2 percent with prices down 2 percent due primarily to competitive pressures. Lower prices in refrigerants were partially offset by strong demand for Opteon® yf in automotive air conditioning, particularly in Europe. In the fourth quarter, we anticipate low-single-digit percent sales growth and operating earnings growth in the high-teens-percent range on improved volumes and productivity measures.
  • 26. Appendix 2: Supplemental Quarterly Information and Reconciliations of Non-GAAP Measures
  • 27. E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES QUARTERLY SUPPLEMENTAL FINANCIAL DATA AND NON-GAAP RECONCILIATIONS (UNAUDITED) SEPTEMBER 30, 2014 INDEX PAGE SELECTED OPERATING RESULTS 27 SELECTED INCOME STATEMENT DATA 28 SEGMENT SALES 29 SEGMENT PRETAX OPERATING INCOME 30 SEGMENT OPERATING EARNINGS 31 SIGNIFICANT ITEMS BY SEGMENT - PRETAX OPERATING INCOME 32 RECONCILIATION OF NON-GAAP MEASURES 33-35 RECONCILIATION OF BASE INCOME TAX RATE TO EFFECTIVE INCOME TAX RATE 36 Note: Management believes that an analysis of operating earnings (as defined on page 27), 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. 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 26 10/28/2014
  • 28. E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES SELECTED OPERATING RESULTS (UNAUDITED) (dollars in millions) Year Year Year Year 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 INCOME STATEMENT DATA Consolidated Net Sales 27,345 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 Operating Earnings After Income Taxes (1) 3,054 497 1,085 1,472 3,632 558 426 1,189 1,459 3,566 193 405 1,421 1,547 3,790 Significant Items - After-tax (48) (44) 8 (12) (423) (294) (71) (78) 20 (680) (91) (342) (215) (32) (237) Non-Operating Pension & OPEB Costs - After-tax (64) (20) (23) (21) (360) (81) (95) (85) (99) (439) (99) (106) (116) (118) (361) Income from Continuing Operations After Income Taxes Attributable to DuPont 2,942 433 1,070 1,439 2,849 183 260 1,026 1,380 2,447 3 (43) 1,090 1,397 3,192 Depreciation 944 309 323 312 1,280 319 317 317 327 1,319 328 331 332 328 1,199 STATEMENT OF CASH FLOW DATA (2) Cash (Used for) Provided by Operating Activities (1,802) 269 350 (2,421) 3,179 5,512 298 36 (2,667) 4,849 5,275 691 760 (1,877) 5,152 Capital Expenditures (3) 1,348 544 462 342 1,940 674 478 449 339 1,890 720 460 407 303 1,910 (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) Data is on a total company basis. (3) 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". 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 27 10/28/2014
  • 29. E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES SELECTED INCOME STATEMENT DATA OPERATING EARNINGS (UNAUDITED) (dollars in millions, except per share) Year Year Year Year 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 Consolidated Net Sales 27,345 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 27,572 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) 4,941 923 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) 4,443 969 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) 5,681 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) 4,164 877 1,439 1,848 4,587 567 482 1,582 1,956 4,708 230 501 1,950 2,027 4,886 Operating Earnings Per Share (1) (3) 3.29 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 (1) See Reconciliation of Non-GAAP Measures. (2) Adjusted EBIT from operating earnings is operating earnings (as defined on page 27) 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". 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 28 10/28/2014
  • 30. E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES SEGMENT SALES (UNAUDITED) (dollars in millions) Year Year Year Year 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 SEGMENT SALES Agriculture 9,572 1,563 3,615 4,394 11,739 1,806 1,633 3,631 4,669 10,426 1,535 1,423 3,388 4,080 9,166 Electronics & Communications 1,820 623 617 580 2,549 642 638 653 616 2,701 622 607 795 677 3,173 Industrial Biosciences 936 318 317 301 1,224 326 305 304 289 1,180 300 292 300 288 705 Nutrition & Health 2,686 899 926 861 3,473 872 868 865 868 3,422 853 876 885 808 2,460 Performance Chemicals(1) 4,933 1,646 1,696 1,591 6,932 1,671 1,781 1,837 1,643 7,450 1,644 1,794 2,043 1,969 8,055 Performance Materials(1) 4,668 1,552 1,582 1,534 6,239 1,521 1,602 1,615 1,501 6,185 1,478 1,552 1,624 1,531 6,554 Safety & Protection 2,953 977 1,029 947 3,884 975 985 1,017 907 3,825 964 934 986 941 3,934 Other 4 2 1 1 6 1 1 3 1 5 1 2 1 1 40 Total Segment Sales 27,572 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 Elimination of Transfers (227) (69) (77) (81) (312) (67) (78) (81) (86) (382) (72) (90) (105) (115) (406) CONSOLIDATED NET SALES 27,345 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) 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. 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 29 10/28/2014
  • 31. E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES INCOME FROM CONTINUING OPERATIONS (UNAUDITED) (dollars in millions) Year Year Year Year 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 SEGMENT PRETAX OPERATING INCOME (LOSS) Agriculture 2,176 (55) 789 1,442 2,132 (108) (102) 861 1,481 1,669 (103) (198) 682 1,288 1,566 Electronics & Communications 190 94 21 75 203 (38) 97 95 49 222 41 (99) 221 59 438 Industrial Biosciences 160 47 57 56 170 41 45 43 41 159 41 37 42 39 2 Nutrition & Health 290 100 97 93 305 87 81 61 76 270 22 64 105 79 76 Performance Chemicals(1) 687 249 232 206 941 228 189 268 256 1,826 210 417 613 586 2,162 Performance Materials(1) 1,328 370 665 293 1,264 278 367 332 287 1,073 263 223 325 262 1,031 Safety & Protection 554 201 178 175 694 213 171 172 138 562 130 92 181 159 661 Other (259) (83) (84) (92) (340) (91) (107) (55) (87) (412) (80) (75) (208) (49) (55) TOTAL SEGMENT PRETAX OPERATING INCOME 5,126 923 1,955 2,248 5,369 610 741 1,777 2,241 5,369 524 461 1,961 2,423 5,881 Net Exchange (Losses) Gains 13 218 (109) (96) (128) (73) (101) 35 11 (215) (54) (130) 50 (81) (146) Non-Operating Pension & OPEBs Costs (94) (30) (34) (30) (539) (124) (142) (126) (147) (654) (147) (157) (174) (176) (540) Corporate Expenses (727) (232) (278) (217) (765) (183) (162) (206) (214) (948) (240) (233) (224) (251) (869) Interest Expense (290) (93) (94) (103) (448) (108) (108) (115) (117) (464) (117) (116) (117) (114) (447) INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 4,028 786 1,440 1,802 3,489 122 228 1,365 1,774 3,088 (34) (175) 1,496 1,801 3,879 (1,075) (352) (366) (357) (626) 61 35 (335) (387) (616) 38 135 (397) (392) (647) (Provision For) Benefit From Income Taxes on Continuing Operations INCOME (LOSS) FROM CONTINUING OPERATIONS AFTER INCOME TAXES 2,953 434 1,074 1,445 2,863 183 263 1,030 1,387 2,472 4 (40) 1,099 1,409 3,232 (1) 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. 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 30 10/28/2014
  • 32. E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES OPERATING EARNINGS (UNAUDITED) (dollars in millions) Year Year Year Year 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 SEGMENT OPERATING EARNINGS Agriculture 2,223 (55) 836 1,442 2,483 88 (62) 941 1,516 2,138 (77) (70) 947 1,338 1,791 Electronics & Communications 258 94 89 75 334 93 97 95 49 259 43 58 99 59 438 Industrial Biosciences 162 47 59 56 169 40 45 43 41 162 41 40 42 39 81 Nutrition & Health 298 100 105 93 299 81 81 61 76 319 58 77 105 79 202 Performance Chemicals(1) 706 249 251 206 1,015 230 261 268 256 1,862 243 420 613 586 2,162 Performance Materials(1) 966 370 303 293 1,280 294 367 332 287 1,177 266 324 325 262 984 Safety & Protection 585 201 209 175 690 209 171 172 138 620 133 147 181 159 661 Other (257) (83) (82) (92) (345) (96) (107) (55) (87) (286) (91) (75) (71) (49) (27) TOTAL SEGMENT OPERATING EARNINGS 4,941 923 1,770 2,248 5,925 939 853 1,857 2,276 6,251 616 921 2,241 2,473 6,292 Corporate Expenses (558) (171) (186) (201) (762) (191) (162) (195) (214) (864) (215) (174) (224) (251) (813) Interest Expense (290) (93) (94) (103) (448) (108) (108) (115) (117) (464) (117) (116) (117) (114) (447) 4,093 659 1,490 1,944 4,715 640 583 1,547 1,945 4,923 284 631 1,900 2,108 5,032 (867) (122) (347) (398) (983) (43) (111) (373) (456) (1,190) (61) (164) (460) (505) (1,137) OPERATING EARNINGS BEFORE INCOME TAXES AND EXCHANGE (LOSSES) GAINS Provision For Income Taxes on Operating Earnings, Excluding Taxes on Exchange Gains (Losses) Net After-tax Exhange (Losses) Gains (161) (39) (54) (68) (86) (39) (43) 19 (23) (142) (29) (59) (10) (44) (65) Less: Net Income Attr. to Noncontrolling Interests 11 1 4 6 14 - 3 4 7 25 1 3 9 12 40 OPERATING EARNINGS 3,054 497 1,085 1,472 3,632 558 426 1,189 1,459 3,566 193 405 1,421 1,547 3,790 Net Income Attributable to Noncontrolling Interests 11 1 4 6 14 - 3 4 7 25 1 3 9 12 40 Non-Operating Pension & OPEB Costs - After-tax (64) (20) (23) (21) (360) (81) (95) (85) (99) (439) (99) (106) (116) (118) (361) Significant Items - After-tax (48) (44) 8 (12) (423) (294) (71) (78) 20 (680) (91) (342) (215) (32) (237) INCOME (LOSS) FROM CONTINUING OPERATIONS AFTER INCOME TAXES 2,953 434 1,074 1,445 2,863 183 263 1,030 1,387 2,472 4 (40) 1,099 1,409 3,232 (1) 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. 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 31 10/28/2014
  • 33. 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 Year Year Year Year SIGNIFICANT ITEMS 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 Agriculture (47) - (47) - (351) (196) (40) (80) (35) (469) (26) (128) (265) (50) (225) Electronics & Communications (68) - (68) - (131) (131) - - - (37) (2) (157) 122 - - Industrial Biosciences (2) - (2) - 1 1 - - - (3) - (3) - - (79) Nutrition & Health (8) - (8) - 6 6 - - - (49) (36) (13) - - (126) Performance Chemicals (19) - (19) - (74) (2) (72) - - (36) (33) (3) - - - Performance Materials 362 - 362 - (16) (16) - - - (104) (3) (101) - - 47 Safety & Protection (31) - (31) - 4 4 - - - (58) (3) (55) - - - Other (2) - (2) - 5 5 - - - (126) 11 - (137) - (28) TOTAL SIGNIFICANT ITEMS BY SEGMENT - PRETAX 185 - 185 - (556) (329) (112) (80) (35) (882) (92) (460) (280) (50) (411) Note: The data above provides a historical display of significant items included in our Quarterly Earnings Release financials. 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 32 10/28/2014
  • 34. E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED) (dollars in millions, except per share) Year Year Year Year 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 RECONCILIATION OF DILUTED EPS (1) Operating EPS 3.29 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 Non-Operating Pension & OPEB Costs (0.07) (0.02) (0.03) (0.03) (0.39) (0.09) (0.09) (0.10) (0.11) (0.46) (0.11) (0.11) (0.12) (0.12) (0.39) Significant Items (0.05) (0.05) 0.01 (0.01) (0.45) (0.31) (0.08) (0.08) 0.02 (0.72) (0.09) (0.37) (0.23) (0.04) (0.25) GAAP EPS from continuing operations 3.17 0.47 1.15 1.54 3.04 0.19 0.28 1.10 1.47 2.59 - (0.05) 1.15 1.48 3.38 RECONCILIATION OF SEGMENT PTOI Segment Operating Earnings 4,941 923 1,770 2,248 5,925 939 853 1,857 2,276 6,251 616 921 2,241 2,473 6,292 Significant Items included in Segment PTOI 185 - 185 - (556) (329) (112) (80) (35) (882) (92) (460) (280) (50) (411) Segment PTOI 5,126 923 1,955 2,248 5,369 610 741 1,777 2,241 5,369 524 461 1,961 2,423 5,881 RECONCILIATION OF ADJUSTED EBIT / ADJUSTED EBITDA TO CONSOLIDATED INCOME STATEMENTS Income From Continuing Operations Before Income Taxes 4,028 786 1,440 1,802 3,489 122 228 1,365 1,774 3,088 (34) (175) 1,496 1,801 3,879 Add: Significant Items - Pretax - (Benefit) / Charge 42 61 (35) 16 559 321 112 91 35 966 117 519 280 50 467 Add: Non-Operating Pension & OPEB Costs - Pretax 94 30 34 30 539 124 142 126 147 654 147 157 174 176 540 Operating Earnings Before Income Taxes 4,164 877 1,439 1,848 4,587 567 482 1,582 1,956 4,708 230 501 1,950 2,027 4,886 Less: Net Income Attributable to Noncontrolling Interests 11 1 4 6 14 - 3 4 7 25 1 3 9 12 40 Add: Interest Expense 290 93 94 103 448 108 108 115 117 464 117 116 117 114 447 Adjusted EBIT (Operating Earnings) 4,443 969 1,529 1,945 5,021 675 587 1,693 2,066 5,147 346 614 2,058 2,129 5,293 Add: Depreciation and Amortization 1,238 358 443 437 1,603 387 379 404 433 1,631 394 393 417 427 1,451 Adjusted EBITDA (Operating Earnings) 5,681 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 (1) Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations. 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 33 10/28/2014
  • 35. E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED) (dollars in millions) 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 3,982 4,174 3,782 8,941 7,005 6,685 6,555 4,284 3,418 3,506 3,410 3,586 Marketable Securities 566 173 67 145 184 211 26 123 105 50 191 433 Total Cash 4,548 4,347 3,849 9,086 7,189 6,896 6,581 4,407 3,523 3,556 3,601 4,019 Short-Term Borrowings and Capital Lease Obligations 3,889 2,506 2,019 1,721 4,204 3,315 2,006 1,275 4,564 3,696 3,593 817 Long-Term Borrowings and Capital Lease Obligations 9,279 9,292 9,298 10,741 10,755 10,765 11,279 10,465 10,502 11,254 11,232 11,736 Total Debt 13,168 11,798 11,317 12,462 14,959 14,080 13,285 11,740 15,066 14,950 14,825 12,553 Debt (Net of all Cash) 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 Year Year Year 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 CALCULATION OF FREE CASH FLOW Cash (Used for) Provided by Operating Activities (1,802) 269 350 (2,421) 3,179 5,512 298 36 (2,667) 4,849 5,275 691 760 (1,877) 5,152 Less: Purchases of Property, Plant and Equipment 1,311 530 461 320 1,882 659 466 436 321 1,793 654 443 395 301 1,843 Free Cash Flow (3,113) (261) (111) (2,741) 1,297 4,853 (168) (400) (2,988) 3,056 4,621 248 365 (2,178) 3,309 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 34 10/28/2014
  • 36. E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED) Year Year Year Year 2014 3Q14 2Q14 1Q14 2013 4Q13 3Q13 2Q13 1Q13 2012 4Q12 3Q12 2Q12 1Q12 2011 SEGMENT PTOI MARGIN % (PTOI / Segment Sales) (1) Agriculture 22.7% -3.5% 21.8% 32.8% 18.2% -6.0% -6.2% 23.7% 31.7% 16.0% -6.7% -13.9% 20.1% 31.6% 17.1% Electronics & Communications 10.4% 15.1% 3.4% 12.9% 8.0% -5.9% 15.2% 14.5% 8.0% 8.2% 6.6% -16.3% 27.8% 8.7% 13.8% Industrial Biosciences 17.1% 14.8% 18.0% 18.6% 13.9% 12.6% 14.8% 14.1% 14.2% 13.5% 13.7% 12.7% 14.0% 13.5% 0.3% Nutrition & Health 10.8% 11.1% 10.5% 10.8% 8.8% 10.0% 9.3% 7.1% 8.8% 7.9% 2.6% 7.3% 11.9% 9.8% 3.1% Performance Chemicals(2) 13.9% 15.1% 13.7% 12.9% 13.6% 13.6% 10.6% 14.6% 15.6% 24.5% 12.8% 23.2% 30.0% 29.8% 26.8% Performance Materials(2) 28.4% 23.8% 42.0% 19.1% 20.3% 18.3% 22.9% 20.6% 19.1% 17.3% 17.8% 14.4% 20.0% 17.1% 15.7% Safety & Protection 18.8% 20.6% 17.3% 18.5% 17.9% 21.8% 17.4% 16.9% 15.2% 14.7% 13.5% 9.9% 18.4% 16.9% 16.8% TOTAL SEGMENT PTOI MARGIN % 18.6% 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% SEGMENT OPERATING EARNINGS MARGIN % (Operating Earnings / Segment Sales) (1) Agriculture 23.2% -3.5% 23.1% 32.8% 21.2% 4.9% -3.8% 25.9% 32.5% 20.5% -5.0% -4.9% 28.0% 32.8% 19.5% Electronics & Communications 14.2% 15.1% 14.4% 12.9% 13.1% 14.5% 15.2% 14.5% 8.0% 9.6% 6.9% 9.6% 12.5% 8.7% 13.8% Industrial Biosciences 17.3% 14.8% 18.6% 18.6% 13.8% 12.3% 14.8% 14.1% 14.2% 13.7% 13.7% 13.7% 14.0% 13.5% 11.5% Nutrition & Health 11.1% 11.1% 11.3% 10.8% 8.6% 9.3% 9.3% 7.1% 8.8% 9.3% 6.8% 8.8% 11.9% 9.8% 8.2% Performance Chemicals(2) 14.3% 15.1% 14.8% 12.9% 14.6% 13.8% 14.7% 14.6% 15.6% 25.0% 14.8% 23.4% 30.0% 29.8% 26.8% Performance Materials(2) 20.7% 23.8% 19.2% 19.1% 20.5% 19.3% 22.9% 20.6% 19.1% 19.0% 18.0% 20.9% 20.0% 17.1% 15.0% Safety & Protection 19.8% 20.6% 20.3% 18.5% 17.8% 21.4% 17.4% 16.9% 15.2% 16.2% 13.8% 15.7% 18.4% 16.9% 16.8% 17.9% 12.2% 18.1% 22.0% 16.4% 12.0% 10.9% 18.7% 21.7% 17.8% 8.3% 12.3% 22.4% 24.0% 18.5% TOTAL SEGMENT OPERATING EARNINGS MARGIN % (1) Segment PTOI / Operating Earnings margin %'s for Other 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. 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 35 10/28/2014
  • 37. 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 September 30, Year ended December 31, Nine months ended September 30, 2014 2013 2014 2013 2014 Outlook1 2013 Actual Effective income tax rate 26.7% 20.4% 44.8% (15.4%) 25.4% 17.9% Significant items effect and non-operating pension/OPEB costs effect (0.3%) 2.8% (1.6%) 26.4% 0.0%' 2.6% 26.4% 23.2% 43.2% 11.0% 25.4% 20.5% Tax rate, from continuing operations, before significant items and non-operating pension/OPEB costs Exchange gains (losses) effect2 (5.2%) (0.1%) (24.7%) 8.0% (4.4%) 0.3% Base income tax rate from continuing operations 21.2% 23.1% 18.5% 19.0% 21.0% 20.8% 1 - Represents the company's anticipated full year tax rates. 2 - For the 2014 outlook, the effect of exchange gains (losses) on the company’s full year effective income tax rate reflects actual exchange gains (losses) from the nine months ended September 30, 2014 only. 3Q14 Supplemental Financial Data and Non-GAAP Reconciliations 36 10/28/2014
  • 38. Copyright © 2014 DuPont or its affiliates. All rights reserved. The DuPont Oval Logo, DuPont™, The miracles of science™ and all products denoted with ™ or ® are registered trademarks or trademarks of E. I. du Pont de Nemours and Company or its affiliates. © 2014 DuPont or its affiliates. All rights reserved. Oval Logo, DuPont™, The miracles of science™ and all products, unless otherwise indicated, denoted with ™ or ® are registered trademarks or trademarks of E. I. du Pont de Nemours and Company or its affiliates. Images reproduced by E. I. du Pont de Nemours and Company under license from the National Geographic Society. Images reproduced by E. I. du Pont de Nemours and Company under license from the National Geographic Society. © National Geographic Image