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2009 DuPont DataBook
2009 DuPont DataBook
1 2009 Summary
2 2009 At a Glance
18 Business Segments
Agriculture & Nutrition
The DuPont DATA BOOK has been prepared to assist financial analysts, portfolio
Electronics & Communications managers and others in understanding and evaluating the company. This book presents
graphics, tabular and other statistical data about the consolidated company and its
Performance Chemicals business segments. The information presented in this book is generally included in—or
Performance Coatings can be calculated from—previously issued press releases and published company
reports on Forms 10-k, 10-Q and 8-K. Dollars are in millions except per share or where
Performance Materials otherwise indicated. Most notes to financial statements are not included. This information
Safety & Protection is only a summary and should be read in conjunction with the company’s audited
consolidated financial statements and “Management’s Discussion and Analysis,” which
Pharmaceuticals is located in the 2009 Form 10K filed with the Securities and Exchange Commission.
Individual Shareholder Relations: (302) 774-3034 The DuPont DATA BOOK is available on the Web at www.dupont.com.
The DuPont Oval Logo, DuPont™, The miracles of science®, and all products denoted with
™
or ® are trademarks or registered trademarks of E.I. du Pont de Nemours and Company or
Main Office Number: (302) 774-4994 its affiliates. Zemea® is a registered trademark of DuPont Tate & Lyle Bio Products Company
Fax: (302) 773-2631 LLC, SmartStrand® is a registered trademark of Mohawk Industries Inc., Herculex® is a
registered trademark of Dow AgroSciences LLC, Roundup Ready® is a registered trademark
Internet: www.dupont.com of Monsanto, SAI® is a registered trademark of Toyota.
March 2010
2009 Summary
As we entered 2009, the world’s economies remained in the grip of Delivering Growth through 2012
the global recession and financial crisis. At DuPont, we responded by
We expect to grow faster than market rates over the next few years
focusing on what we could control. We put in place directives aimed
due to our differentiated portfolio, global positioning, and the combined
at maximizing margin, dramatically reducing spending, zero-basing
impact of productivity with differential business management.
capital expenditures and aggressively reducing working capital. We
stayed close to our customers and took advantage of the recessionary Key Commitments through 2012 Targets
environment to respond to their needs for product differentiation.
Sales Growth 2009–2012E CAGR ~ 10 percent
Our actions positioned us well for 2010, ready to meet the challenge EPS 2009–2012E CAGR ~ 20 percent
of delivering earnings growth despite declining income from Cozaar®
and Hyzaar® pharmaceutical royalties.
Fixed Cost Reduction Programs ~ $1.0 billion
Working Capital Productivity ~ $1.0 billion
Firm Commitments, Dynamic Action
Throughout 2009, we moved with urgency and discipline to meet the The Needs of the World Drive our Science and Marketing
directives we set for ourselves. We emphasized cash generation Global population growth and associated growth in the middle class
which was critical to maintaining our financial strength. ]are creating distinct megatrends throughout the world. Megatrends
We delivered these results through creative and dynamic actions: provide DuPont the opportunity to bring our unmatched science to the
marketplace, creating game-changing solutions in constant collaboration
• We generated $3.4 billion in free cash flow, and offset lower cash with customers and key partners.
earnings with capital productivity.
Each megatrend presents opportunities for DuPont’s collaborative
• We achieved $1.1 billion in fixed cost productivity. science and solutions:
• We lowered the breakeven point for our company which positions
• Increase food production—We are committed to working closely with
us well for recovery in 2010.
farmers around the world to significantly increase corn and soybean
• We reorganized the company, eliminating structural cost and yields over the next decade with seeds that are higher yielding, more
building capability by integrating our 23 strategic business units drought tolerant, more nitrogen-use efficient and more resistant to
into 13 businesses. We removed layers of management and moved insects and disease. Other DuPont solutions include herbicides,
decision making closer to our customers. The resulting realignment insecticides and fungicides, nutrition and health products, and
reduces organizational complexity, provides greater transparency, packaging materials that keep food safe and fresh, longer.
increases productivity, and allows DuPont to be more responsive
• Decrease dependence on fossil fuels—We have products that help
to customer needs.
improve energy efficiency in building construction and provide light-
• We continued research and development investment during the weight solutions in the transportation industries, and a growing suite
recession at the same level as pre-recession. We introduced more than of solutions across alternative energy applications including novel
1,400 new products in 2009—or about 60 percent more than in 2008. biofuel technology and photovoltaic materials.
• Protect people, assets and the environment—We continue to develop
Clear Priorities for 2010
new capabilities for products like our DuPont™ Kevlar® and Nomex®
We took decisive and appropriate actions in 2009 to reposition our advanced fibers which are recognized globally for applications in
businesses, and will reap benefits through accelerated growth and protective apparel for law enforcement, first responders and the military.
operational leverage.
• Grow in emerging markets—We expect our strategy of putting decision-
Key Actions for 2010 Targets making responsibility and development capability closer to our customers
in emerging markets will enable DuPont to exceed trend line growth in
Sales Growth Over 2009 > 10 percent these markets in 2010 and achieve $12 billion in revenue by 2012.
Fixed Cost Productivity ~ $400 million Market-driven science will continue to be the cornerstone of what sets
Working Capital Productivity ~ $400 million DuPont apart. We face the future with confidence because the people of
Capital Expenditures ~ $1.6 billion DuPont have always been able to take science and technology, collaborate
Free Cash Flow > $1.5 billion and create solutions to market needs, and turn innovation into profits for
our customers and our shareholders.
Net Sales (dollars in billions) Earnings Per Share1 (dollars) Dividend Payments (dividend per share)
$35 $3.50 $2.00
$30 $3.00
$25 $2.50 $1.50
$20 $2.00
$15 $1.50 $1.00
First
$10 $1.00 Dividend
Paid
$5 $0.50 $0.50
2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 1904 1990 1995 2000 2005 2009
1
Before significant items.
January DuPont introduced Nomex® On Demand™, an DuPont Corian® in China won the largest
DuPont was named among the world’s innovative smart fiber that gives firefighters residential project ever in the history of the
leaders in ethics reputation, earning additional protection in temperatures of business—selling approximately 120,000
first place in its industry sector and 10th 250 degrees Fahrenheit and above. The term meters of Corian® sheets for the Star of
overall among more than 500 multinational “smart fiber” refers to the new material’s Qingdao Village project.
companies, according to the annual global ability to detect the high temperature and
DuPont Crop Protection in India launched
Covalence Ethical Ranking Report. automatically expand, trapping more air for
three new products that will provide
greater thermal insulation.
DuPont Tate & Lyle Bio Products long-lasting answers to insect and weed
announced that Kilfrost, the global leader The plant-derived DuPont™ Zytel® 610 problems and contribute to the prosperity
in de- and anti-icing fluids, incorporated nylon resin that debuts on DENSO of rice and sugar cane farmers in the
Susterra® propanediol into its newest Corporation’s new automotive radiator northern belts of the country. The new
de-icing product—DFsustain. end-tank illustrates the benefits of products include a novel new insect
close collaboration throughout the control product, DuPont™ Coragen™, and
DuPont and Athenix announced a research value chain, and marks the first use of two new weed-control products—DuPont™
collaboration to improve insect control in DuPont renewably sourced plastic in Londax Power™ and DuPont™ Velpar®.
corn and soybeans. Under the agreement, mechanical components exposed to the
Pioneer Hi-Bred will use proprietary insect- DuPont commercialized two new product
hot, chemically aggressive underhood
resistance trait genes from Athenix to families of photovoltaic (PV) encapsulant
environment.
develop and commercialize next-generation sheets. The new DuPont™ PV5300 Series
corn and soybean seed products. and DuPont™ PV5200 Series deliver long-
April term protection for solar cells. The durable
DuPont installed its largest photovoltaic DuPont Apollo Ltd., a subsidiary of DuPont, PV encapsulant sheets also contribute to
solar energy facility at its Pioneer Hi-Bred opened its global thin film photovoltaic longer life and reduced cost-per-watt.
Waimea Research Center in Kauai, research and development center at a
Hawaii. The installation is comprised of ceremony of the Solar Energy Technology June
1,500 panels made from many DuPont Support Center at Hong Kong Science Park
DuPont announced that its Sorona®
photovoltaic materials. in China.
renewably sourced fiber is available for
February DuPont reached a regulatory milestone for the commercial carpet industry.
its next generation of healthier soybean
DuPont introduced mobile wind machines DuPont announced the development of
products. Pioneer Hi-Bred received
that test the ability of higher-yielding its new, proprietary “Gen-3” solution-
confirmation from Health Canada and
experimental corn hybrids to withstand based organic light emitting diode (OLED)
the Canadian Food Inspection Agency
violent wind storms that cause significant materials technology that can last a
that its high oleic soybean trait has been
standability issues and subsequent yield loss. record lifetime of more than 1 million
approved for cultivation, food and feed use
hours—equivalent to over 100 years of
DuPont China received “The Most in Canada.
constant use.
Responsible Company in China’s 30-year
DuPont received registration from the U.S.
of Economic Reform” award at China’s DuPont announced the winners of the 21st
Environmental Protection Agency for an
International Forum on corporate social DuPont Awards for Packaging Innovation
insect repellent ingredient derived from
responsibility. making news not only for the awards
the catmint plant, a sustainable resource.
themselves, but also for hosting online the
DuPont Titanium Technologies in China The new ingredient, Refined Oil of Nepeta
normally face-to-face gathering of award
initiated a strategic partnership with cataria, is the first new insect repellent
recipients, customers, jurors and industry
Nippon Paint; a leader in China’s coating biopesticide to be registered by the EPA in
experts.
market, to implement a three-year eight years.
co-marketing program. Solae introduced SoleCina™/Supro® Max,
May a new proprietary blend of vegetable
March DuPont opened a photovoltaic technical and meat protein ingredient solution that
DuPont doubled production capacity for center at its global R&D Center in allows food manufacturers to improve the
DuPont™ Solamet® thick film metallization Shanghai, China. The facility contains three quality of their meat product lines without
pastes and made key quality improvements labs, and provides integrated research, affecting the taste and appearance of the
at its European electronic materials development and technical support for final products.
manufacturing facility in Bristol, U.K. customers in the PV industry in China.
2
Photos: (Left) one of the world’s first
cellulosic ethanol demonstration
facilities in Vonore, Tennessee.
(Middle) DuPont Apollo R&D center
in Hong Kong. (Right) Registered in
over 50 countries, including China,
DuPont™ Rynaxypyr® insect control
products provide rapid, long-lasting
protection of fruit, vegetable, rice
and other crops.
Corporate Highlights
(dollars in millions, except per share)
2009 2008
Operating Results Net sales $26,109 $ 30,529
Net income attributable to DuPont 1,755 2,007
Income before significant items 1,857 2,533
Depreciation 1,251 1,169
EBIT 2,578 2,764
EBITDA 4,081 4,208
Cash provided by operating activities 4,741 3,129
Capital expenditures (includes investment in affiliates) 1,432 2,033
Research and development expense 2 1,378 1,393
Financial Position, Total assets $38,185 $ 36,209
Year End Working capital 7,898 5,601
Total debt 11,034 9,650
Stockholders’ equity 7,215 7,125
Data Per Common Share Net income – diluted 3 $1.92 $2.20
Income before significant items – diluted $2.03 $2.78
Dividends $1.64 $1.64
Market price – Year-end close $33.67 $25.30
High-low range $35.62 – $16.05 $52.25 – $21.95
Book value at year-end $7.72 $7.63
Average number of shares (millions) – diluted 909 907
Shares outstanding – year-end (millions) 904 902
Ratios Total stockholder return 39.6% (38.9%)
Dividend yield 4.9% 6.5%
Share price increase (decrease) 33.1% (42.6%)
P/E on income before significant items 17 9
Dividend payout, as percentage of earnings per share
before significant items 80.8% 59.0%
Return on average stockholders’ equity before significant items 1 14.0% 19.6%
Return on average investors’ capital before significant items 1 8.8% 12.1%
Asset turnover ratio 68% 84%
Cash provided by operating activities as a percentage of total debt 43.0% 32.4%
Debt to total capital 4 59.0% 56.0%
Interest coverage ratio 6.7 10.1
Current ratio 4 1.8 1.6
Exchange loss – net of tax ($114) ($172)
Employees Number of employees – year-end (thousands) 58 60
1 Amount presented ex-Other Comprehensive Income. 4 Includes related assets and/or liabilities classified as held for sale within the
2 Excludes purchased in-process research and development. Consolidated Balance Sheets.
3 On December 31, 2006, the company adopted Statement of Financial Accounting
Standards No. 158, “Employers’ Accounting for Defined Benefit Pension and Other
Postretirement Plans, an amendment of FASB Statements No. 87, 88, 106 and 132(R).”
Total assets and stockholders’ equity were reduced by $2,159 and $1,555, respectively,
as a result of such adoption.
4
2007 2006 2005 Cash Provided By Cash Returned to Shareholders
$ 29,378 $ 27,421 $ 26,639 Operating Activities
2,988 3,148 2,056 (dollars in millions) (dollars in millions)
3,043 2,685 2,332 $5,000 $5,000
1,158 1,157 1,128
4,166 3,804 4,044 $4,000 $4,000
5,537 5,188 5,402
4,290 3,736 2,542 $3,000 $3,000
Segment Information
(dollars in millions)
DuPont’s Share of
Equity Affiliate Earnings
6
2009 2008
1st 2nd 3rd 4th Full Yr. 1st 2nd 3rd 4th Full Yr.
Segment Sales 1
Agriculture & Nutrition $ 3,062 $ 2,613 $ 1,244 $ 1,368 $ 8,287 $ 2,883 $ 2,541 $ 1,303 $ 1,225 $ 7,952
Electronics & Communications 365 429 542 582 1,918 545 582 590 477 2,194
Performance Chemicals 1,070 1,243 1,331 1,320 4,964 1,495 1,659 1,674 1,207 6,035
Performance Coatings 732 840 882 975 3,429 1,111 1,242 1,103 905 4,361
Performance Materials 942 1,087 1,303 1,436 4,768 1,713 1,810 1,708 1,194 6,425
Safety & Protection 718 664 670 759 2,811 885 1,041 973 834 3,733
Other 28 31 54 45 158 40 44 45 31 160
Total segment sales $ 6,917 $ 6,907 $ 6,026 $ 6,485 $26,335 $ 8,672 $ 8,919 $ 7,396 $ 5,873 $30,860
Segment Pretax Operating Income –
Before Significant Items
Agriculture & Nutrition $ 852 $ 581 $ (113) $ (97) $ 1,223 $ 786 $ 504 $ (17) $ (164) $ 1,109
Electronics & Communications (34) 20 77 61 124 83 90 86 29 288
Performance Chemicals 44 142 207 208 601 236 255 238 14 743
Performance Coatings (75) 31 58 70 84 93 128 61 (81) 201
Performance Materials (146) 37 230 174 295 219 223 125 (129) 438
Safety & Protection 64 48 58 135 305 225 246 200 87 758
Pharmaceuticals 252 272 266 247 1,037 235 265 260 265 1,025
Other (44) (44) (26) (55) (169) (26) 1 (44) (81) (150)
Total segment pretax operating
income – before significant items 913 1,087 757 743 3,500 1,851 1,712 909 (60) 4,412
Exchange gains and losses 70 (144) (128) (3) (205) (155) (29) 45 (116) (255)
Corporate expenses and interest (234) (256) (238) (223) (951) (226) (271) (257) (250) (1,004)
Income before significant items 2 749 687 391 517 2,344 1,470 1,412 697 (426) 3,153
Pretax Impact of Significant Items 2
Hurricane charges — — — — — — — (227) — (227)
Restructuring charge — (340) — — (340) — — — (535) (535)
Restructuring adjustment — 75 — 55 130 — — — — —
Hurricane insurance proceeds and
adjustments — 50 — — 50 — — — — —
Net impact of significant items 0 (215) 0 55 (160) 0 0 (227) (535) (762)
Income before income taxes $ 749 $ 472 $ 391 $ 572 $ 2,184 $ 1,470 $ 1,412 $ 470 $ (961) $ 2,391
2009 2008
1st 2nd 3rd 4th Full Yr. 1st 2nd 3rd 4th Full Yr.
Earnings Per Share of
Common Stock – Diluted 3
Income (loss) before significant items $ 0.54 $ 0.61 $ 0.45 $ 0.44 $ 2.03 $ 1.31 $ 1.18 $ 0.56 $ (0.28) $ 2.78
Significant items (0.15) 0.00 0.00 0.04 (0.11) 0.00 0.00 (0.16) (0.42) (0.58)
Income (loss) $ 0.39 $ 0.61 $ 0.45 $ 0.48 $ 1.92 $ 1.31 $ 1.18 $ 0.40 $ (0.70) $ 2.20
1 Segment sales include transfers.
2 For complete details of significant items, see DuPont’s quarterly earnings news releases.
3 Earnings per share for the year does not equal to sum of quarterly earnings per share due to changes in average share calculations.
8
Consolidated Balance Sheets
(dollars in millions)
December 31 2009 2008 2007 2006 2005
Assets
Current assets
Cash and cash equivalents $ 4,021 $ 3,645 $ 1,305 $ 1,814 $ 1,736
Marketable debt securities 2,116 59 131 79 115
Accounts and notes receivable, net 5,030 5,140 5,683 5,198 4,801
Inventories 5,380 5,681 5,278 4,941 4,743
Prepaid expenses 129 143 199 182 199
Income taxes 612 643 564 656 828
Total current assets 17,288 15,311 13,160 12,870 12,422
Property, plant and equipment 28,915 27,954 26,593 25,719 24,963
Less: Accumulated depreciation 17,821 16,800 15,733 15,221 14,654
Net property, plant and equipment 11,094 11,154 10,860 10,498 10,309
Goodwill 2,137 2,135 2,074 2,108 2,087
Other intangible assets 2,552 2,710 2,856 2,479 2,684
Investment in affiliates 1,014 844 818 803 844
Other assets 4,100 4,055 4,363 3,019 4,945
Total $38,185 $36,209 $34,131 $31,7771 $33,291
Liabilities and Stockholders Equity
Current liabilities
Accounts payable $ 3,542 $ 3,128 $ 3,172 $ 2,711 $ 2,670
Short-term borrowings and capital lease obligations 1,506 2,012 1,370 1,517 1,397
Income taxes 154 110 176 178 294
Other accrued liabilities 4,188 4,460 3,823 3,534 3,075
Total current liabilities 9,390 9,710 8,541 7,940 7,436
Long-term borrowings and capital lease obligations 9,528 7,638 5,955 6,013 6,783
Other liabilities 11,490 11,169 7,255 7,692 8,441
Deferred income taxes 126 140 802 269 1,179
Total liabilities 30,534 28,657 22,553 21,914 23,839
Total DuPont stockholders’ equity 7,215 7,125 11,136 9,4221 8,962
Noncontrolling interests 436 427 442 441 490
Total equity 7,651 7,552 11,578 9,8631 9,452
Total $38,185 $36,209 $34,131 $31,777 $33,291
1 On December 31, 2006, the company adopted Statement of Financial Accounting Standards No. 158, “Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans,
an amendment of FASB Statements No. 87, 88, 106 and 132(R).” Total assets and stockholders’ equity were reduced by $2,159 and $1,555, respectively, as a result of such adoption.
Operating activities
Net income $ 1,769 $ 2,010 $ 2,995 $ 3,133 $ 2,093
Adjustments to reconcile net income to cash
provided by operating activities:
Depreciation 1,251 1,169 1,158 1,157 1,128
Amortization of intangible assets 252 275 213 227 230
Other noncash charges and credits, net 976 814 358 303 7
Separation activitites – Textiles & Interiors — — — — (62)
Contributions to pension plans (306) (252) (277) (280) (1,253)
(Increase) decrease in operating assets:
Accounts and notes receivable 69 488 (214) (194) (74)
Inventories and other operating assets 481 (663) (267) (61) 6
Increase (decrease) in operating liabilities:
Accounts payable and other operating liabilities (115) (515) 470 335 (633)
Accrued interest and income taxes 364 (197) (146) (884) 1,100
Cash provided by operating activities 4,741 3,129 4,290 3,736 2,542
Investing activities
Purchases of property, plant and equipment (1,308) (1,978) (1,585) (1,532) (1,340)
Investments in affiliates (124) (55) (113) (31) (66)
Payments for businesses – net of cash acquired (13) (144) (13) (60) (206)
Proceeds from sale of assets, net of cash sold 91 50 251 148 312
Net (increase) decrease in short-term financial instruments (2,016) 40 (39) 37 36
Forward exchange contract settlements (927) 508 (285) 45 653
Other investing activities, net (1) (31) 34 48 9
Cash (used for) provided by investing activities (4,298) (1,610) (1,750) (1,345) (602)
Financing activities
Dividends paid to stockholders (1,492) (1,496) (1,409) (1,378) (1,439)
Net increase (decrease) in short-term (317) (891) 1,117 (263) (494)
(less than 90 days) borrowings
Long-term and other borrowings:
Receipts 3,685 3,527 1,998 2,611 4,311
Payments (1,977) (547) (3,458) (3,139) (2,045)
Repurchase of common stock — — (1,695) (280) (3,530)
Proceeds from exercise of stock options 1 94 445 148 359
Proceeds from termination of interest rate swap — 226 — — —
Other financing activities, net 3 (35) (67) (22) (13)
Cash (used for) provided by financing activities (97) 878 (3,069) (2,323) (2,851)
Effect of exchange rate changes on cash 30 (57) 20 10 (722)
Increase (decrease) in cash and cash equivalents $ 376 $ 2,340 $ (509) $ 78 $(1,633)
Cash and cash equivalents at beginning of year 3,645 1,305 1,814 1,736 3,369
Cash and cash equivalents at end of year 4,021 3,645 1,305 1,814 1,736
Supplemental cash flow information:
Cash paid during the year for
Interest, net of amounts capitalized $ 403 $ 336 $ 527 $ 295 $ 479
Taxes 63 609 795 899 355
10
Selected Additional Data
2009 2008 2007 2006 2005
12
Selected Additional Data
Price and Volume1 Change Summary
115
10
8 120
110
5
105 6 115
0 100
4 110
95
–5
90
2
105
–10
–15 0
100
–20 –2
95
–25
–4
2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009
Yr/Yr % Change (Left) Index 4qma (1999=100 Right) Yr/Yr % Change (Left) Index 4qma (1999=100 Right)
* History excludes Textiles & Interiors. ** Prices in local currency terms (adjusted for currency and
history excludes Textiles & Interiors).
Sales Volume % Change 2009 Sales Volume % Selling Price % Change 2009 Selling Price %
from Prior Year1 Change from Prior Year2 from Prior Year Change from Prior Year
Year Worldwide Qtr. Worldwide
Year Worldwide Qtr. Worldwide USD Local USD Local
2005 (1) 1st (19) 2005 6 5 1st — 5
2006 2 2nd (19) 2006 2 2 2nd (2) 3
2007 2 3rd (12) 2007 5 2 3rd (5) (2)
2008 (5) 4th 10 2008 10 7 4th 1 (3)
2009 (12) Year (12) 2009 (2) 1 Year (2) 1
1 Price and volume changes are as a percentage of net sales excluding Textiles & Interiors. Volume percentage changes are calculated using sales adjusted to exclude current-year sales
from acquisitions when there are no comparable prior-year sales and to exclude prior-year sales of businesses that have been divested.
2 Excludes portfolio changes.
35
of CO2 Equivalents
30 Large Sites 2 13 23 12
25
20 Small Sites < 200 people 0 2 23 54
15
10 Fixed Cost Productivity* $42 $209 $510 >$200
5
* dollars in millions
0
1990 1996 2000 2004 2008
Reflects a 60% reduction since 1990. Prior to the INVISTA separation, DuPont
achieved a 72% reduction below the original 1990 baseline. Note: data adjusted
for 1990–2000 years to reflect INVISTA divestiture, and 2004 baseline and
Six Sigma
subsequent years adjusted to reflect all acquisitions and divestitures.
2009 was the tenth full year of implementation of DuPont Six
Sigma. We have trained over 29,000 employees as Master Black
Air Carcinogens—Since 1990, DuPont has reduced its global Belts, Black Belts or Green Belts.
carcinogen emissions 92 percent. By 2015, we will further
reduce these emissions at least 50 percent (from a base year Six Sigma Focus
of 2004) bringing total reductions since 1990 to 96 percent.
Progress at year end 2008: down 50% versus 2004. Projects Launched in 2009
53% 47%
R&D Opportunities—By 2015 DuPont will double its investment
in R&D programs with direct, quantifiable environmental benefits Supply Chain/Operations Improvements
for our customers and consumers. Progress at year end 2008: Transactional Processes/Top Line Growth
$570 million invested in 2008 versus goal of $640 million by 2015.
14
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After
2009 Variable Cost – Cash Basis – approximately $12.5 B* Top Purchased Energy and Raw Materials
Primary Uses 2009
*Management best estimate
a. Agricultural Activities . . Ag and Nutrition
b. Electricity . . . . . . . . . . . . .Various
a c. Ethane . . . . . . . . . . . . . . .Packaging Polymers
d. TiO2 . . . . . . . . . . . . . . . . . .Titanium Technologies
Packaging and Logistics e. Natural Gas . . . . . . . . . . .Various
f. Pigments . . . . . . . . . . . . .Performance Coatings
g. Adipic Acid . . . . . . . . . . .Engineering Polymers
Contract b h. HMD . . . . . . . . . . . . . . . . .Engineering Polymers
Manufacturing
i. Solvents . . . . . . . . . . . . . .Performance Coatings
and Other c j. DMT . . . . . . . . . . . . . . . . .Packaging Polymers
d k. Liquid Resins . . . . . . . . . .Performance Coatings
Top Purchased Energy l. Methacrylates . . . . . . . .Surfaces
and Raw Materials e
m. Chlorine . . . . . . . . . . . . . .Titanium Technologies
f n. Steam . . . . . . . . . . . . . . . .Various
g o. Isocyanates . . . . . . . . . . .Performance Coatings
Other Purchased Energy
h
and Raw Materials i
j
k
m l
on
In 2009 DuPont had a record breaking year for innovation, as R&D Investments vs. Megatrends—Year 2009
illustrated by our metrics.
Key Capabilities
16
DuPont Applied BioSciences
DuPont Applied BioSciences is focused on the development and commercialization of biotechnology
solutions for a range of industries including energy, materials, specialty products and biomedical
applications. The business uses biology, chemistry, materials science and engineering in an integrated
manner to develop renewably sourced products with equal or better performance than petrochemical
based products.
Craig F. Binetti
President,
Nutrition & Health and
Applied BioSciences
Growth Strategies
18
Key Capabilities Key Products & Services Core Markets
Real-time PCR assay for Vibrio Next-day DNA test for three pathogenic species in seafood Global food processing
Real-time PCR assay for E. coli O157:H7 Same-day DNA test for ground beef, trim and produce Global food processing
DuPont™ PCR Reagent Kits Tablets and reagents to simplify PCR in molecular bio labs Global research, academia
SoleCina ™
Affordable meat/soy nutrition Global C&D consumers
Principal Products Major Markets Major Plants Major Raw Materials Significant Competitors
Crop Protection www.dupont.com/ag
Herbicides
Corn herbicides:
Accent® Q Broadleaf weed control Mobile, AL Aminodimethoxypyrimidine BASF
Basis® Grassy weed control El Paso, IL Cyanuric chloride Bayer
Cinch® Manati, PR Monomethylamine Dow Agrosciences
Cinch® ATZ Cernay, France Nicotinic acid Mahkteshim Agan
Cinch® ATZ Lite Monsanto
Resolve™ Q Syngenta
Steadfast® ATZ
Steadfast® Q
Stout®
Titus®
Soybean herbicides:
Assure® II Broadleaf weed control El Paso, IL Flumioxazin
Canopy® Selective weed control
Canopy® EX
Classic®
Enlite®
Envive™
Synchrony® XP
Cereal herbicides:
Affinity® Broadleaf weed control El Paso, IL Benzyl mercaptan
Ally® Selective weed control Manati, PR Cyanamide
Cimarron® Girraween, Australia Dimethyl carbonate
Express® Cernay, France Methyl thioglycolate
Finesse® Shanghai, China Saccharin
Glean®
Granstar®
Harmony®
Lexus®
Pastora™
Refine®
SU Blends
Rice herbicide:
Gulliver® Selective pre- and Manati, PR Aminodimethoxypyrimidine
post-emergence weed o-Toluic acid
control
Cotton herbicides:
Staple® Post-emergence weed Lerma, Mexico Pyrithiobac sodium
Staple® LX control
Potato herbicide:
Matrix® Selective broadleaf weed Cernay, France Aminodimethoxypyrimidine
and grass control
Sugar beet herbicides:
Debut® Post-emergence weed Manati, PR 2-Carbomethoxy-
Safari® control Cernay, France 6-methylbenzenesulfonyl
Upbeet® chloride
Venzar®
Sugarcane herbicides:
Advance® Pre-emergence weed LaPorte, TX Diuron
Velpar® K control Hexazinone
20
DuPont Agriculture & Nutrition
Principal Products Major Markets Major Plants Major Raw Materials Significant Competitors
Crop Protection (continued)
Herbicides (continued)
Citrus herbicides:
Hyvar® Pre-emergence weed LaPorte, TX Bromacil
Krovar® control Diuron
Tomato herbicide:
Matrix® Selective weed control Cernay, France Aminodimethoxypyrimidine
Specialty herbicides:
Vegetation management Brush and weed control LaPorte, TX Cyclohexyl isocyanate
Escort® (forestry and noncrop) Manati, PR Dichlorophenol isocyanate
Karmex® Lerma, Mexico Hexazinone
Krenite® Saccharin
Oust®
Oustar®
Oust® Extra
Telar®
Velpar®
Westar®
Fungicides
Acanto®, Acanto® Prima, Plant disease control Valdosta, GA Carbon bisulfide BASF
Stinger® Houston, TX Carbon monoxide Bayer
Aproach® Prima Barranquilla, Colombia Chlorine Dow Agrosciences
Curzate® Cernay, France Copper hydrofide Mahkteshim Agan
Equation® Asturias, Spain EDA Ethylene diamine Syngenta
Famoxate® Bangpoo, Thailand Phenyl triazole
Flusilazole Sodium triazole
Kocide® Triphenyltinhydroxide
Manzate®
Nustar®
Punch®
Talendo®
Talius®
Tanos®
Insecticides
Acelepryn® Residual action insect Mobile, AL Acetaldehyde oxime BASF
Advion® control in specialty LaPorte, TX Ammonia Bayer
Altacor® food production and Barra Mansa, Brazil Caustic soda Dow Agrosciences
Ammate® selected broad acre Cernay, France m-Cresol Mahkteshim Agan
Arilon™ crop applications, as Savli, India Cyclohexanone Syngenta
Asana® well as professional Pasaruan, Indonesia Ethanol
Avaunt® pest control and Lerma, Mexico Methanol
Coragen® lawn care Cabuyao, Philippines Methyl mercaptan
Dermacor™ Lung Tan, Taiwan Monochlorobenzene
Ferterra® Bangpoo, Thailand Monoethylamine
Lannate® Monomethylformamide
Premio® Phosphorus pentachloride
Prevathon® Trichloroacetaldehyde
Rynaxypyr®
Steward®
Vydate®
Principal Products Major Markets Major Plants Major Raw Materials Significant Competitors
22
DuPont Electronics & Communications
Electronics & Communications is focused on growth as a leading supplier of enabling materials and systems for photovoltaics,
electronics, flat panel displays and advanced printing markets worldwide. As a leading technology supplier to the photovoltaic industry,
DuPont offers a growing portfolio of solutions designed to help increase the efficiency and lifetime of solar modules and ultimately
lower total system costs for PV power. The business also offers a broad portfolio of materials for semiconductor fabrication, as well as
innovative materials for printed circuit board applications. The business develops materials for plasma displays and new innovative
technologies for liquid crystal displays (LCD) and organic light emitting diode (OLED) displays and lighting. The segment is also
leveraging its science in packaging graphics through its Cyrel® products and expanding its leadership position in inks and
flexographic printing.
Growth Strategies
CoppeReady® barrier slurry Tunable copper barrier and dielectric Chemical mechanical planarization
polishing rates
CuSolve™ post-etch residue removers Robust cleaning performance with minimal copper Advanced semiconductor manufacturing
etch for copper interconnect processes
Cyrel®FAST plate production system Thermally processed digital flexographic Packaging graphics
printing plate
Fodel® 8G thick-film paste Silver conductor and black matrix offering lower Plasma display panels
cost-in-use, finer lines, and high quality
Izon® Authentication solutions Advanced 3-D full parallax holographic Product/brand authentication and security
security devices
Kapton® CR polyimide film Corona-resistant polyimide film Wire insulation for high-speed trains in
emerging markets
Kapton® ENA polyimide film High dimensional stability polyimide film IC driver circuitry for LCD display panels
Interra® HK planar embedded capacitor High-capacitance laminate Printed circuit boards for high data rate
laminate transmission
Pyralux® TK flexible laminate Flexible laminate for high-speed applications Cabling and flexible circuits for high data
rate transmission
Solamet® photovoltaic metallizations Higher cell efficiency, higher product yields Photovoltaic cells
and lower material consumption
Tedlar® PV2100 PVF films Increased dimensional stability, tear abrasion Photovoltaic modules
resistance and higher reflectance, improving
output and efficiency
Vertak® Gen II bonding adhesive Reworkable adhesive used to bond coverplates LCD display panels
and touch sensors to LCDs
24
DuPont Electronics & Communications
Principal Products Major Markets Major Plants Major Raw Materials Significant Competitors
www2.dupont.com/Electronics/en_US/ www2.dupont.com/Packaging_and_Graphic_Arts/en_US/ www2.dupont.com/Photovoltaics/en_US/index.html
Artistri™ inks for digital textile Automotive electronics Bayport, TX Acrylic monomers 3M
printing Biosensors Bristol, United Kingdom Black and Color Pigments Air Products
Birox® thick-film resistor Electronic components Circleville, OH Block Copolymers Arisawa
compositions Electronic insulation Dayton, OH Color Dyes Asahi Chemical
CoppeReady® chemical Home, office and Dongguan, China Colloidal silica Cabot Corporation
mechanical planarization large-format digital Fayetteville, NC Copper Cabot Microelectronics
slurries ink-jet printers Fort Madison, IA Difluoroethane Cheil
CuSolve™ post-etch residue LCD and plasma displays Gumi, Korea DMAC Denka
removers Packaging graphics Hayward, CA Hydroxylamine Eternal Chemical
Cyrel® flexographic printing Photovoltaic cells and Hitachi, Japan Monomers and Polymer Ferro
plate systems modules Resins
Hsinchu, Taiwan Flint Group
Cyrel® FAST thermal Plasma and LCD displays Polymers
Logan, UT Fujifilm
platemaking systems Printed circuit board Oxydianiline
Louisville, KY Heraeus
Cyrel® round seamless fabrication PET film
Manati, PR Hitachi Chemical
photopolymer sleeves Product/brand Mizushima, Japan Plastic films Kaneka
DuPont inks for printer OEMs authentication and Neu Isenburg, Germany Polyester film Kao
Fodel® 8G thick-film paste security
Parlin, NJ Polymer films LG Chemical
Green Tape™ Semiconductor
Research Triangle Park, NC Precious metals MacDermid
low-temperature co-fired fabrication and
Rochester, NY Pyromellitic dianhydride Maruzen
ceramics packaging
Ruabon, United Kingdom TiO2 Nippon Steel
Holographic optical elements Textile printing
for labels and tags Santa Barbara, CA Noritake
Wafer polishing
ImageMaster™ photo-tool Shenzhen, China Sensient
systems Taoyuan, Taiwan SKC Kolon
Interra® planar embedded Tokai, Japan Tianwei Solar Films
capacitor laminate Tonawanda, NY Tokyo Okha Kogyo
Izon® anti-counterfeiting Towanda, PA Toray
devices Toyohashi, Japan Ube
Kapton® polyimide film
Luxprint® electroluminescent
compositions
Mazin® colloidal silica slurry
Microlithographic polymer
films
Microlux® polyimide
laminates
MicroPlanar® chemical
mechanical planarization
slurries
Oasis® composite film
PlasmaSolve® post-etch
residue removers
Polymers for semiconductor
photoresists
Posistrip® photoresist
removers
Pyralin® polyimide coatings
Pyralux® flexible laminates,
sheet adhesives, and films
Riston® dry film photoresists
Solamet® photovoltaic
metallizations
Specialty Colorants and
Polymers
Vertak™ Bonding Technology
for LCD Displays
Syton® colloidal silica slurry
Tedlar® PVF film
Thick-film conductor and
resistor compositions
Growth Strategies
Gary W. Spitzer Richard C. Olson • Fulfill customer needs via supply and value chain excellence
President President • Target innovation, focusing on low cost processes,
DuPont Chemicals & DuPont Titanium
Fluoroproducts Technologies sustainable technologies and high growth opportunities
26
Key Capabilities Key Products & Services Core Markets
R-350 TiO2 pigment Improved dispersibility, processing and additive compatibility Plastic high-end films
IsoTherming™ hydroprocessing Provides a faster and less expensive way for refiners to make Oil refining
technology cleaner fuel
RelyOn™ antiseptics and Multipurpose disinfectants and hand antiseptics for reducing Human health
disinfectants the spread of viruses
Sulfuric acid regeneration Sulfur management/emission abatement Oil and gas refinery
Isceon® refrigerant blends Easy retrofit replacement for ozone depleting CFCs Refrigeration
and other HCFCs
Teflon® FEP 9810 foam resin High productivity and improved electrical performance Electronic data and telecom
cables
CoppeReady® barrier slurry Tunable copper barrier and dielectric polishing rates Chemical mechanical
planarization
Principal Products Major Markets Major Plants Major Raw Materials Significant Competitors
28
DuPont Performance Coatings
DuPont Performance Coatings expects to deliver earnings and cash growth through cost and working capital productivity
while making selected growth investments, so that top quartile financial performance among global industry peers is
achieved. The segment leverages its technology and know-how of coatings products to create value for customers by
increasing their productivity, delivering innovative high-performance products, and enabling higher quality service and value
to their customers. Offerings include coatings, systems and services to fulfill functionality, aesthetics, and process needs.
Growth Strategies
Dispersion and particle technologies Liquid and powder coatings Automotive OEM
Color management Coatings and application services Collision repair
Coatings applications Industrial coatings
Manufacturing excellence Transportation
Global scale and scope
Principal Products Major Markets Major Plants Major Raw Materials Significant Competitors
30
DuPont Performance Materials
DuPont Performance Materials expects to deliver earnings and cash growth through cost and working capital productivity
while making selective growth investments. The segment provides its customers with innovative polymer science solutions
and expert application development assistance to enhance the performance, reduce the total system cost and optimize the
sustainability of their products. Key market segments include transportation, flexible food and beverage packaging, electrical/
electronic components, material handling, healthcare, construction, semi-con and aerospace. DuPont Performance Materials is
among the most global of DuPont’s businesses, with rapid expansion in emerging markets.
Growth Strategies
32
DuPont Performance Materials
Principal Products Major Markets Major Plants Major Raw Materials Significant Competitors
Growth Strategies
34
Key Capabilities Key Products & Services Core Markets
Market-driven science in selective barriers, Safety and operational consulting and training Construction
high-strength/temperature materials, environmental Industrial safety
DuPont™ Corian® solid surfaces
solutions, protective/decorative surfaces Emergency response
DuPont™ Kevlar® fiber Military
World-class safety reputation
DuPont™ Nomex® fiber and paper Transportation
Global brand strength Industrial biotechnology
DuPont™ Tyvek® protective material Food
Strong value chain relationships
and other selective barriers Oil and gas
Robust new product development Health care
Principal Products Major Markets Major Plants Major Raw Materials Significant Competitors
36
DuPont Safety & Protection
Principal Products Major Markets Major Plants Major Raw Materials Significant Competitors
History Outlook
On October 1, 2001, DuPont Pharmaceuticals was sold to the Pharmaceuticals’ Cozaar®/Hyzaar® income is the sum of
Bristol-Myers Squibb Company. DuPont retained its interest in two parts: income related to a share of the profits from
Cozaar (losartan potassium) and Hyzaar (losartan potassium
® ®
North American sales and certain markets in EMEA, and
with hydrochlorothiazide). These drugs were discovered royalty income derived from worldwide contract net sales
by DuPont and developed in collaboration with Merck and linked to the exclusivity term in a particular country. Patents
are used in the treatment of hypertension. The U.S. patents and exclusivity have already started to expire and the U.S.
covering the compounds, pharmaceutical formulation and exclusivity for Cozaar® ends in April 2010. The worldwide
use for the treatment of hypertension, including approval agreement terminates when the following conditions are
for pediatric use, will expire in 2010. DuPont has exclusively met: (i) the Canadian exclusivity ends in 2013, and (ii) North
licensed worldwide marketing and manufacturing rights for American sales fall below a certain level. Therefore, absent
Cozaar® and Hyzaar® to Merck. Pharmaceuticals receives net any major changes in the markets, the company expects
proceeds and royalties as outlined below. Merck is responsible its income to take its first significant step-down in 2010,
for manufacturing, marketing and selling Cozaar and Hyzaar .
® ®
and from that year on, continue to decline each year to
zero when the contract ends, which is expected to be after
2013. In general, management expects a traditional sales,
earnings and cash decline for a drug going off patent in the
pharmaceutical industry.
$600
$400
$200
$0
2007 2008 2009
38
Major Global Sites and Principal Products (includes joint ventures and major affiliates)
40
Board of DuPont
Directors Office of the Chief Executive
Ellen J. Kullman 1
Chair of the Board and Chief Executive Officer
Board Committees
1 Strategic Direction
2 Environmental Policy
3 Audit
4 Compensation
5 Corporate Governance
6 Science and Technology