000130683012/312022FYfalse108,474,12812,713,879,912P6YP1Y1111http://fasb.org/us-gaap/2022#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2022#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent2025-12-312023-12-312027-12-312027-12-31http://fasb.org/us-gaap/2022#OperatingLeaseRightOfUseAssethttp://fasb.org/us-gaap/2022#OperatingLeaseRightOfUseAssethttp://fasb.org/us-gaap/2022#PropertyPlantAndEquipmentNethttp://fasb.org/us-gaap/2022#PropertyPlantAndEquipmentNethttp://fasb.org/us-gaap/2022#OtherLiabilitiesCurrenthttp://fasb.org/us-gaap/2022#OtherLiabilitiesCurrenthttp://fasb.org/us-gaap/2022#DebtCurrenthttp://fasb.org/us-gaap/2022#DebtCurrenthttp://fasb.org/us-gaap/2022#OperatingLeaseLiabilityNoncurrenthttp://fasb.org/us-gaap/2022#OperatingLeaseLiabilityNoncurrenthttp://fasb.org/us-gaap/2022#LongTermDebtAndCapitalLeaseObligationshttp://fasb.org/us-gaap/2022#LongTermDebtAndCapitalLeaseObligationshttp://fasb.org/us-gaap/2022#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2022#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2022#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2022#InterestExpensehttp://fasb.org/us-gaap/2022#InterestExpensehttp://fasb.org/us-gaap/2022#InterestExpensehttp://fasb.org/us-gaap/2022#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2022#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2022#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2022#ForeignCurrencyTransactionGainLossBeforeTax http://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#ForeignCurrencyTransactionGainLossBeforeTax http://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#ForeignCurrencyTransactionGainLossBeforeTax http://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#OtherAssetsCurrent http://fasb.org/us-gaap/2022#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2022#OtherAssetsCurrent http://fasb.org/us-gaap/2022#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2022#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2022#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2022#OtherAssetsCurrenthttp://fasb.org/us-gaap/2022#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2022#OtherLiabilitiesCurrent00013068302022-01-012022-12-310001306830us-gaap:CommonStockMember2022-01-012022-12-310001306830ce:EURSeniorUnsecuredNotesDue2023Member2022-01-012022-12-310001306830ce:EURSeniorUnsecuredNotesDue2025Member2022-01-012022-12-310001306830ce:EURSeniorUnsecuredNotesDue2026Member2022-01-012022-12-310001306830ce:EURSeniorUnsecuredNotesDue2027Member2022-01-012022-12-310001306830ce:EURSeniorUnsecuredNotesDue2028Member2022-01-012022-12-310001306830ce:EURSeniorUnsecuredNotesDue2029Member2022-01-012022-12-3100013068302022-06-30iso4217:USD00013068302023-02-10xbrli:shares00013068302021-01-012021-12-3100013068302020-01-012020-12-31iso4217:USDxbrli:shares00013068302022-12-3100013068302021-12-310001306830us-gaap:CommonStockMember2021-12-310001306830us-gaap:CommonStockMember2020-12-310001306830us-gaap:CommonStockMember2019-12-310001306830us-gaap:CommonStockMember2022-01-012022-12-310001306830us-gaap:CommonStockMember2021-01-012021-12-310001306830us-gaap:CommonStockMember2020-01-012020-12-310001306830us-gaap:CommonStockMember2022-12-310001306830us-gaap:TreasuryStockMember2021-12-310001306830us-gaap:TreasuryStockMember2020-12-310001306830us-gaap:TreasuryStockMember2019-12-310001306830us-gaap:TreasuryStockMember2022-01-012022-12-310001306830us-gaap:TreasuryStockMember2021-01-012021-12-310001306830us-gaap:TreasuryStockMember2020-01-012020-12-310001306830us-gaap:TreasuryStockMember2022-12-310001306830us-gaap:AdditionalPaidInCapitalMember2021-12-310001306830us-gaap:AdditionalPaidInCapitalMember2020-12-310001306830us-gaap:AdditionalPaidInCapitalMember2019-12-310001306830us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-310001306830us-gaap:AdditionalPaidInCapitalMember2021-01-012021-12-310001306830us-gaap:AdditionalPaidInCapitalMember2020-01-012020-12-310001306830us-gaap:AdditionalPaidInCapitalMember2022-12-310001306830us-gaap:RetainedEarningsMember2021-12-310001306830us-gaap:RetainedEarningsMember2020-12-310001306830us-gaap:RetainedEarningsMember2019-12-310001306830us-gaap:RetainedEarningsMember2022-01-012022-12-310001306830us-gaap:RetainedEarningsMember2021-01-012021-12-310001306830us-gaap:RetainedEarningsMember2020-01-012020-12-310001306830us-gaap:RetainedEarningsMember2022-12-310001306830us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001306830us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001306830us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001306830us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001306830us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310001306830us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-12-310001306830us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-3100013068302020-12-310001306830us-gaap:NoncontrollingInterestMember2021-12-310001306830us-gaap:NoncontrollingInterestMember2020-12-310001306830us-gaap:NoncontrollingInterestMember2019-12-310001306830us-gaap:NoncontrollingInterestMember2022-01-012022-12-310001306830us-gaap:NoncontrollingInterestMember2021-01-012021-12-310001306830us-gaap:NoncontrollingInterestMember2020-01-012020-12-310001306830us-gaap:NoncontrollingInterestMember2022-12-3100013068302019-12-310001306830ce:ConsolidatedVenturesMember2022-12-31xbrli:pure0001306830us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-01-012022-12-310001306830us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001306830us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001306830us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2022-12-310001306830us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-12-310001306830us-gaap:LandImprovementsMember2022-01-012022-12-310001306830us-gaap:BuildingMember2022-01-012022-12-310001306830us-gaap:MachineryAndEquipmentMember2022-01-012022-12-310001306830us-gaap:LeaseholdImprovementsMembersrt:MaximumMember2022-01-012022-12-310001306830srt:MinimumMember2022-01-012022-12-310001306830srt:MaximumMember2022-01-012022-12-310001306830us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2021-08-012021-08-3100013068302023-01-012022-12-3100013068302024-01-012022-12-3100013068302025-01-012022-12-310001306830srt:MinimumMember2022-12-310001306830srt:MaximumMember2022-12-3100013068302026-01-012022-12-310001306830ce:SantopreneMember2021-12-012021-12-310001306830ce:MobilityMaterialsMember2022-11-010001306830ce:MobilityMaterialsMember2022-11-012022-11-01ce:facilityce:patentce:employees0001306830us-gaap:CustomerRelationshipsMemberce:MobilityMaterialsMember2022-11-010001306830ce:MobilityMaterialsMemberus-gaap:TradeNamesMember2022-11-010001306830us-gaap:DevelopedTechnologyRightsMemberce:MobilityMaterialsMember2022-11-010001306830ce:MobilityMaterialsMember2022-01-012022-12-310001306830ce:MobilityMaterialsMember2021-01-012021-12-310001306830ce:MobilityMaterialsMember2022-11-012022-12-310001306830us-gaap:SellingGeneralAndAdministrativeExpensesMemberce:MobilityMaterialsMember2022-01-012022-12-310001306830ce:KoreaEngineeringPlasticsCoLtdMemberce:CelaneseCorporationMember2022-04-010001306830ce:KoreaEngineeringPlasticsCoLtdMemberce:MitsubishiGasChemicalCompanyMember2022-04-010001306830ce:KoreaEngineeringPlasticsCoLtdMember2022-04-012022-04-010001306830ce:KoreaEngineeringPlasticsCoLtdMember2022-04-01ce:annualInstallmentiso4217:EUR0001306830ce:EngineeredMaterialsMembercountry:MX2022-01-012022-12-310001306830ce:MobilityMaterialsMember2022-12-310001306830ce:PolyplasticsCoLtdMemberce:EngineeredMaterialsMember2020-10-310001306830ce:PolyplasticsCoLtdMemberce:EngineeredMaterialsMember2020-10-012020-10-310001306830ce:PolyplasticsCoLtdMemberce:EngineeredMaterialsMember2020-10-012020-12-31ce:Investment0001306830srt:MinimumMemberce:OtherEquityMethodInvestmentInvesteesMember2022-12-310001306830ce:OtherEquityMethodInvestmentInvesteesMembersrt:MaximumMember2022-12-310001306830ce:EngineeredMaterialsMember2022-12-310001306830ce:EngineeredMaterialsMember2021-12-310001306830ce:EngineeredMaterialsMember2022-01-012022-12-310001306830ce:EngineeredMaterialsMember2021-01-012021-12-310001306830ce:EngineeredMaterialsMember2020-01-012020-12-310001306830us-gaap:CorporateAndOtherMember2022-12-310001306830us-gaap:CorporateAndOtherMember2021-12-310001306830us-gaap:CorporateAndOtherMember2022-01-012022-12-310001306830us-gaap:CorporateAndOtherMember2021-01-012021-12-310001306830us-gaap:CorporateAndOtherMember2020-01-012020-12-310001306830srt:MinimumMemberce:OtherEquitySecuritieswithoutreadilydeterminablefairvalueInvesteeMember2022-12-310001306830ce:OtherEquitySecuritieswithoutreadilydeterminablefairvalueInvesteeMembersrt:MaximumMember2022-12-310001306830ce:AcetylChainMember2022-12-310001306830ce:AcetylChainMember2021-12-310001306830ce:AcetylChainMember2022-01-012022-12-310001306830ce:AcetylChainMember2021-01-012021-12-310001306830ce:AcetylChainMember2020-01-012020-12-310001306830us-gaap:LandMember2022-12-310001306830us-gaap:LandMember2021-12-310001306830us-gaap:LandImprovementsMember2022-12-310001306830us-gaap:LandImprovementsMember2021-12-310001306830us-gaap:BuildingAndBuildingImprovementsMember2022-12-310001306830us-gaap:BuildingAndBuildingImprovementsMember2021-12-310001306830us-gaap:MachineryAndEquipmentMember2022-12-310001306830us-gaap:MachineryAndEquipmentMember2021-12-310001306830us-gaap:ConstructionInProgressMember2022-12-310001306830us-gaap:ConstructionInProgressMember2021-12-310001306830ce:EngineeredMaterialsMember2020-12-310001306830ce:AcetylChainMember2020-12-310001306830us-gaap:LicensingAgreementsMember2020-12-310001306830us-gaap:CustomerRelationshipsMember2020-12-310001306830us-gaap:DevelopedTechnologyRightsMember2020-12-310001306830us-gaap:OtherIntangibleAssetsMember2020-12-310001306830us-gaap:LicensingAgreementsMember2021-01-012021-12-310001306830us-gaap:CustomerRelationshipsMember2021-01-012021-12-310001306830us-gaap:DevelopedTechnologyRightsMember2021-01-012021-12-310001306830us-gaap:OtherIntangibleAssetsMember2021-01-012021-12-310001306830us-gaap:LicensingAgreementsMember2021-12-310001306830us-gaap:CustomerRelationshipsMember2021-12-310001306830us-gaap:DevelopedTechnologyRightsMember2021-12-310001306830us-gaap:OtherIntangibleAssetsMember2021-12-310001306830us-gaap:LicensingAgreementsMember2022-01-012022-12-310001306830us-gaap:CustomerRelationshipsMember2022-01-012022-12-310001306830us-gaap:DevelopedTechnologyRightsMember2022-01-012022-12-310001306830us-gaap:OtherIntangibleAssetsMember2022-01-012022-12-310001306830us-gaap:LicensingAgreementsMember2022-12-310001306830us-gaap:CustomerRelationshipsMember2022-12-310001306830us-gaap:DevelopedTechnologyRightsMember2022-12-310001306830us-gaap:OtherIntangibleAssetsMember2022-12-310001306830ce:SantopreneMember2021-01-012021-12-310001306830us-gaap:CustomerRelationshipsMemberce:MobilityMaterialsMember2022-01-012022-12-310001306830us-gaap:DevelopedTechnologyRightsMemberce:MobilityMaterialsMember2022-01-012022-12-310001306830ce:MobilityMaterialsMember2022-01-012022-12-310001306830us-gaap:TrademarksAndTradeNamesMember2020-12-310001306830us-gaap:TrademarksAndTradeNamesMember2021-01-012021-12-310001306830us-gaap:TrademarksAndTradeNamesMember2021-12-310001306830us-gaap:TrademarksAndTradeNamesMember2022-01-012022-12-310001306830us-gaap:TrademarksAndTradeNamesMember2022-12-310001306830us-gaap:RevolvingCreditFacilityMember2022-12-310001306830us-gaap:RevolvingCreditFacilityMember2021-12-310001306830ce:USDSeniorUnsecuredNotesDue2022Member2022-12-310001306830ce:USDSeniorUnsecuredNotesDue2022Member2021-12-310001306830ce:EURSeniorUnsecuredNotesDue2023Member2022-12-310001306830ce:EURSeniorUnsecuredNotesDue2023Member2021-12-310001306830ce:SeniorUnsecuredNotesDue2024Member2022-12-310001306830ce:SeniorUnsecuredNotesDue2024Member2021-12-310001306830ce:USDSeniorUnsecuredNotesDue2024Member2022-12-310001306830ce:USDSeniorUnsecuredNotesDue2024Member2021-12-310001306830ce:EURSeniorUnsecuredNotesDue2025Member2022-12-310001306830ce:EURSeniorUnsecuredNotesDue2025Member2021-12-310001306830ce:USDSeniorUnsecuredNotesDue2025Member2022-12-310001306830ce:USDSeniorUnsecuredNotesDue2025Member2021-12-310001306830ce:SeniorUnsecuredTermLoanDue2025Member2022-12-310001306830ce:SeniorUnsecuredTermLoanDue2025Member2021-12-310001306830ce:USDSeniorUnsecuredNotesDue2026Member2022-12-310001306830ce:USDSeniorUnsecuredNotesDue2026Member2021-12-310001306830ce:EURSeniorUnsecuredNotesDue2026Member2022-12-310001306830ce:EURSeniorUnsecuredNotesDue2026Member2021-12-310001306830ce:EURSeniorUnsecuredNotesDue2027Member2022-12-310001306830ce:EURSeniorUnsecuredNotesDue2027Member2021-12-310001306830ce:USDSeniorUnsecuredNotesDue2027Member2022-12-310001306830ce:USDSeniorUnsecuredNotesDue2027Member2021-12-310001306830ce:SeniorUnsecuredTermLoanDue2027Member2022-12-310001306830ce:SeniorUnsecuredTermLoanDue2027Member2021-12-310001306830ce:EURSeniorUnsecuredNotesDue2028Member2022-12-310001306830ce:EURSeniorUnsecuredNotesDue2028Member2021-12-310001306830ce:EURSeniorUnsecuredNotesDue2029Member2022-12-310001306830ce:EURSeniorUnsecuredNotesDue2029Member2021-12-310001306830ce:USDSeniorUnsecuredNotesDue2029Member2022-12-310001306830ce:USDSeniorUnsecuredNotesDue2029Member2021-12-310001306830ce:USDSeniorUnsecuredNotesDue2032Member2022-12-310001306830ce:USDSeniorUnsecuredNotesDue2032Member2021-12-310001306830srt:MinimumMemberce:RefundingloanforpollutioncontrolandindustrialrevenuebondsMember2022-12-310001306830ce:RefundingloanforpollutioncontrolandindustrialrevenuebondsMembersrt:MaximumMember2022-12-310001306830ce:PollutionControlAndIndustrialRevenueBondsMember2022-12-310001306830ce:PollutionControlAndIndustrialRevenueBondsMember2021-12-310001306830us-gaap:LoansPayableMember2022-12-310001306830us-gaap:LoansPayableMember2021-12-310001306830us-gaap:LongTermDebtMember2022-12-310001306830us-gaap:LongTermDebtMember2021-12-310001306830ce:BridgeFacilityMemberce:A364DaySeniorUnsecuredBridgeTermLoanMember2022-02-172022-02-170001306830ce:BridgeFacilityMemberce:A364DaySeniorUnsecuredBridgeTermLoanMember2022-02-170001306830ce:TermLoanFacilityMemberce:A364DayDelayedDrawTermLoanMember2022-03-182022-03-180001306830ce:TermLoanFacilityMemberce:A364DayDelayedDrawTermLoanMember2022-03-180001306830ce:A5YearDelayedDrawTermLoanMemberce:TermLoanFacilityMember2022-03-182022-03-180001306830ce:A5YearDelayedDrawTermLoanMemberce:TermLoanFacilityMember2022-03-180001306830ce:TermLoanFacilityMemberce:A3YearDelayedDrawTermLoanMember2022-09-162022-09-160001306830ce:TermLoanFacilityMemberce:A3YearDelayedDrawTermLoanMember2022-09-160001306830srt:MinimumMemberce:TermLoanFacilityMemberce:A364DayDelayedDrawTermLoanMemberce:TermSOFRMember2022-03-182022-03-180001306830ce:TermLoanFacilityMemberce:A364DayDelayedDrawTermLoanMemberce:TermSOFRMembersrt:MaximumMember2022-03-182022-03-180001306830srt:MinimumMemberce:TermLoanFacilityMemberce:A364DayDelayedDrawTermLoanMemberus-gaap:BaseRateMember2022-03-182022-03-180001306830ce:TermLoanFacilityMemberce:A364DayDelayedDrawTermLoanMemberus-gaap:BaseRateMembersrt:MaximumMember2022-03-182022-03-180001306830srt:MinimumMemberce:TermLoanFacilityMemberce:TermSOFRMemberce:A3YearDelayedDrawTermLoanMember2022-09-162022-09-160001306830srt:MinimumMemberce:A5YearDelayedDrawTermLoanMemberce:TermLoanFacilityMemberce:TermSOFRMember2022-03-182022-03-180001306830ce:A5YearDelayedDrawTermLoanMemberce:TermLoanFacilityMemberce:TermSOFRMembersrt:MaximumMember2022-03-182022-03-180001306830ce:TermLoanFacilityMemberce:TermSOFRMemberce:A3YearDelayedDrawTermLoanMembersrt:MaximumMember2022-09-162022-09-160001306830srt:MinimumMemberce:TermLoanFacilityMemberus-gaap:BaseRateMemberce:A3YearDelayedDrawTermLoanMember2022-09-162022-09-160001306830srt:MinimumMemberce:A5YearDelayedDrawTermLoanMemberce:TermLoanFacilityMemberus-gaap:BaseRateMember2022-03-182022-03-180001306830ce:TermLoanFacilityMemberus-gaap:BaseRateMemberce:A3YearDelayedDrawTermLoanMembersrt:MaximumMember2022-09-162022-09-160001306830ce:A5YearDelayedDrawTermLoanMemberce:TermLoanFacilityMemberus-gaap:BaseRateMembersrt:MaximumMember2022-03-182022-03-180001306830ce:BridgeFacilityMemberce:A364DaySeniorUnsecuredBridgeTermLoanMember2022-12-310001306830us-gaap:RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2022-12-310001306830us-gaap:RevolvingCreditFacilityMemberce:SeniorUnsecuredRevolvingCreditFacilityMember2022-03-182022-03-180001306830us-gaap:RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2022-03-182022-03-180001306830ce:BridgeFacilityMemberce:A364DaySeniorUnsecuredBridgeTermLoanMember2022-01-012022-12-310001306830us-gaap:RevolvingCreditFacilityMemberce:SeniorUnsecuredRevolvingCreditFacilityMember2022-12-310001306830us-gaap:RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2022-01-012022-12-310001306830us-gaap:RevolvingCreditFacilityMemberce:SeniorUnsecuredRevolvingCreditFacilityMember2022-01-012022-12-310001306830ce:VariableInterbankInterestRateMembersrt:MinimumMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2022-01-012022-12-310001306830ce:VariableInterbankInterestRateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2022-01-012022-12-310001306830ce:AcquisitionNotesMember2022-07-140001306830ce:AcquisitionNotesMember2022-07-190001306830ce:AcquisitionNotesMember2022-07-192022-07-190001306830ce:USDSeniorUnsecuredNotesDue2026Member2021-08-310001306830us-gaap:RevolvingCreditFacilityMemberce:SeniorUnsecuredRevolvingCreditFacilityMember2021-08-012021-08-310001306830ce:EURSeniorUnsecuredNotesDue2028Member2021-09-300001306830ce:EURSeniorUnsecuredNotesDue2028Member2021-08-310001306830ce:EURSeniorUnsecuredNotesDue2023Member2021-09-300001306830ce:EURSeniorUnsecuredNotesDue2023Member2021-09-012021-09-300001306830ce:EURSeniorUnsecuredNotesDue2023Member2021-01-012021-12-310001306830ce:AmendedRestatedReceivableSecuritizationFacilityMemberus-gaap:SecuredDebtMember2022-01-012022-12-310001306830ce:AmendedRestatedReceivableSecuritizationFacilityMemberus-gaap:SecuredDebtMember2022-12-310001306830ce:AmendedRestatedReceivableSecuritizationFacilityMemberus-gaap:SecuredDebtMember2021-12-310001306830ce:AmendedRestatedReceivableSecuritizationFacilityMemberus-gaap:SecuredDebtMember2021-01-012021-12-310001306830ce:EuropeAndSingaporeFactoringAgreementsMember2022-12-310001306830ce:EuropeAndSingaporeFactoringAgreementsMember2021-12-310001306830ce:EuropeAndSingaporeFactoringAgreementsMember2022-01-012022-12-310001306830ce:EuropeAndSingaporeFactoringAgreementsMember2021-01-012021-12-310001306830ce:SingaporeDiscountingAgreementMember2022-12-310001306830ce:SingaporeDiscountingAgreementMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMember2020-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-12-310001306830us-gaap:PensionPlansDefinedBenefitMember2022-01-012022-12-310001306830us-gaap:PensionPlansDefinedBenefitMember2021-01-012021-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-12-310001306830us-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-12-310001306830us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2022-01-012022-12-310001306830us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2021-01-012021-12-310001306830us-gaap:PensionPlansDefinedBenefitMembercountry:US2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMembercountry:US2021-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercountry:US2022-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercountry:US2021-12-310001306830us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:ForeignPlanMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-12-310001306830us-gaap:ForeignPlanMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-12-310001306830country:US2022-12-310001306830country:US2021-12-310001306830us-gaap:ForeignPlanMember2022-12-310001306830us-gaap:ForeignPlanMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMember2020-01-012020-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-01-012020-12-310001306830us-gaap:MoneyMarketFundsMemberus-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2022-12-310001306830us-gaap:MoneyMarketFundsMemberus-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2021-12-310001306830us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2022-12-310001306830us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2021-12-310001306830us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2020-01-012020-12-310001306830us-gaap:PensionPlansDefinedBenefitMembercountry:US2022-01-012022-12-310001306830us-gaap:PensionPlansDefinedBenefitMembercountry:US2021-01-012021-12-310001306830us-gaap:PensionPlansDefinedBenefitMembercountry:US2020-01-012020-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercountry:US2022-01-012022-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercountry:US2021-01-012021-12-310001306830us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercountry:US2020-01-012020-12-310001306830us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2022-01-012022-12-310001306830us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2021-01-012021-12-310001306830us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2020-01-012020-12-310001306830us-gaap:ForeignPlanMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-12-310001306830us-gaap:ForeignPlanMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-12-310001306830us-gaap:ForeignPlanMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-01-012020-12-310001306830country:US2022-01-012022-12-310001306830country:US2021-01-012021-12-310001306830country:US2020-01-012020-12-310001306830us-gaap:ForeignPlanMember2022-01-012022-12-310001306830us-gaap:ForeignPlanMember2021-01-012021-12-310001306830us-gaap:ForeignPlanMember2020-01-012020-12-310001306830country:US2020-12-310001306830country:USus-gaap:DefinedBenefitPostretirementHealthCoverageMember2022-12-310001306830country:USus-gaap:DefinedBenefitPostretirementHealthCoverageMember2021-12-310001306830country:USus-gaap:DefinedBenefitPostretirementHealthCoverageMember2020-12-310001306830country:USus-gaap:DefinedBenefitPostretirementHealthCoverageMember2022-01-012022-12-310001306830country:USus-gaap:DefinedBenefitPostretirementHealthCoverageMember2021-01-012021-12-310001306830country:USus-gaap:DefinedBenefitPostretirementHealthCoverageMember2020-01-012020-12-310001306830us-gaap:DebtSecuritiesMembercountry:US2022-12-310001306830us-gaap:ForeignPlanMemberus-gaap:DebtSecuritiesMember2022-12-310001306830us-gaap:EquitySecuritiesMembercountry:US2022-12-310001306830us-gaap:ForeignPlanMemberus-gaap:EquitySecuritiesMember2022-12-310001306830ce:EquitySecuritiesInternationalToPlansMembercountry:US2022-12-310001306830us-gaap:ForeignPlanMemberce:EquitySecuritiesInternationalToPlansMember2022-12-310001306830ce:OtherSecuritiesMembercountry:US2022-12-310001306830us-gaap:ForeignPlanMemberce:OtherSecuritiesMember2022-12-310001306830srt:ScenarioForecastMembercountry:US2023-01-012023-12-310001306830us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMember2021-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830us-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:USTreasurySecuritiesMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:USTreasurySecuritiesMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:USTreasurySecuritiesMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:USTreasurySecuritiesMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:MortgageBackedSecuritiesMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MortgageBackedSecuritiesMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberce:InsuranceContractsInvestmentsMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberce:InsuranceContractsInvestmentsMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberce:InsuranceContractsInvestmentsMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberce:InsuranceContractsInvestmentsMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberce:InsuranceContractsInvestmentsMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberce:InsuranceContractsInvestmentsMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherThanSecuritiesInvestmentMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherThanSecuritiesInvestmentMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherThanSecuritiesInvestmentMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherThanSecuritiesInvestmentMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherThanSecuritiesInvestmentMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherThanSecuritiesInvestmentMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Memberce:TotalPlanAssetsMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Memberce:TotalPlanAssetsMember2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberce:TotalPlanAssetsMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberce:TotalPlanAssetsMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberce:TotalPlanAssetsMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberce:TotalPlanAssetsMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Memberus-gaap:SwapMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Memberus-gaap:SwapMember2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:SwapMember2021-12-310001306830ce:TotalPlanLiabilitiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830ce:TotalPlanLiabilitiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:FairValueInputsLevel2Memberce:TotalPlanLiabilitiesMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberce:TotalPlanLiabilitiesMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830ce:TotalPlanLiabilitiesMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830ce:TotalPlanLiabilitiesMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:EquityFundsMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ExchangeTradedFundsMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2022-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:EquityFundsMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ExchangeTradedFundsMember2021-12-310001306830us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2021-12-310001306830ce:InfraservGmbhCoGendorfKgMember2022-12-310001306830ce:InfraservGmbhCoHoechstKgMember2022-12-310001306830ce:YNCORISGmbHCo.KGMember2022-12-310001306830ce:PassaicRiverNewJerseyMember2022-01-012022-12-310001306830ce:PassaicRiverNewJerseyMember2016-03-312016-03-310001306830ce:PassaicRiverNewJerseyMember2021-09-302021-09-300001306830ce:PassaicRiverNewJerseyMember2022-12-162022-12-160001306830ce:PassaicRiverNewJerseyMember2022-12-310001306830us-gaap:SubsequentEventMember2023-02-082023-02-0800013068302008-02-012022-12-310001306830us-gaap:AccumulatedTranslationAdjustmentMember2019-12-310001306830us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2019-12-310001306830us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-310001306830us-gaap:AccumulatedTranslationAdjustmentMember2020-01-012020-12-310001306830us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-12-310001306830us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-12-310001306830us-gaap:AccumulatedTranslationAdjustmentMember2020-12-310001306830us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310001306830us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310001306830us-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-12-310001306830us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-12-310001306830us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-12-310001306830us-gaap:AccumulatedTranslationAdjustmentMember2021-12-310001306830us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-310001306830us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310001306830us-gaap:AccumulatedTranslationAdjustmentMember2022-01-012022-12-310001306830us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-12-310001306830us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-12-310001306830us-gaap:AccumulatedTranslationAdjustmentMember2022-12-310001306830us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-310001306830us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-3100013068302022-12-012022-12-3100013068302020-11-012020-11-300001306830us-gaap:DomesticCountryMember2022-12-310001306830us-gaap:StateAndLocalJurisdictionMember2022-12-310001306830us-gaap:ForeignCountryMember2022-12-310001306830country:CN2022-12-310001306830srt:MinimumMemberus-gaap:DomesticCountryMember2022-01-012022-12-310001306830srt:MinimumMembercountry:CN2022-01-012022-12-310001306830country:CNsrt:MaximumMember2022-01-012022-12-310001306830us-gaap:NetInvestmentHedgingMemberce:ForeignCurrencyDenominatedDebtMember2022-12-312022-12-310001306830us-gaap:NetInvestmentHedgingMemberce:ForeignCurrencyDenominatedDebtMember2021-12-312021-12-310001306830us-gaap:CurrencySwapMemberce:USDSeniorUnsecuredNotesDue2027Member2022-07-140001306830ce:USDSeniorUnsecuredNotesDue2032Memberus-gaap:CurrencySwapMember2022-07-140001306830us-gaap:NetInvestmentHedgingMemberce:AcquisitionNotesMember2022-07-192022-07-190001306830currency:BRLus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:GBPus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:CADus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:CNYus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:DKKus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:EURus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:HUFus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:IDRus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:JPYus-gaap:ForeignExchangeContractMember2022-12-310001306830us-gaap:ForeignExchangeContractMembercurrency:KRW2022-12-310001306830currency:MXNus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:SGDus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:SEKus-gaap:ForeignExchangeContractMember2022-12-310001306830currency:CHFus-gaap:ForeignExchangeContractMember2022-12-310001306830us-gaap:ForeignExchangeContractMember2022-12-310001306830us-gaap:ForeignExchangeContractMember2021-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-12-310001306830us-gaap:CommodityContractMemberus-gaap:CashFlowHedgingMember2022-01-012022-12-310001306830us-gaap:CommodityContractMemberus-gaap:CashFlowHedgingMember2021-01-012021-12-310001306830us-gaap:CommodityContractMemberus-gaap:CashFlowHedgingMember2020-01-012020-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2022-01-012022-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2021-01-012021-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2020-01-012020-12-310001306830us-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2022-01-012022-12-310001306830us-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2021-01-012021-12-310001306830us-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2020-01-012020-12-310001306830us-gaap:CashFlowHedgingMember2022-01-012022-12-310001306830us-gaap:CashFlowHedgingMember2021-01-012021-12-310001306830us-gaap:CashFlowHedgingMember2020-01-012020-12-310001306830us-gaap:NetInvestmentHedgingMemberce:ForeignCurrencyDenominatedDebtMember2022-01-012022-12-310001306830us-gaap:NetInvestmentHedgingMemberce:ForeignCurrencyDenominatedDebtMember2021-01-012021-12-310001306830us-gaap:NetInvestmentHedgingMemberce:ForeignCurrencyDenominatedDebtMember2020-01-012020-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMember2022-01-012022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMember2021-01-012021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMember2020-01-012020-12-310001306830us-gaap:NetInvestmentHedgingMemberce:TermC2andC3LoanFacilitiesMember2022-01-012022-12-310001306830us-gaap:NetInvestmentHedgingMemberce:TermC2andC3LoanFacilitiesMember2021-01-012021-12-310001306830us-gaap:NetInvestmentHedgingMemberce:TermC2andC3LoanFacilitiesMember2020-01-012020-12-310001306830us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-01-012022-12-310001306830us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-01-012021-12-310001306830us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-01-012020-12-310001306830us-gaap:NondesignatedMember2022-01-012022-12-310001306830us-gaap:NondesignatedMember2021-01-012021-12-310001306830us-gaap:NondesignatedMember2020-01-012020-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel1Memberus-gaap:NondesignatedMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueInputsLevel1Memberus-gaap:NondesignatedMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:NondesignatedMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:NondesignatedMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NondesignatedMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NondesignatedMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:CashFlowHedgingMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:CashFlowHedgingMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:CashFlowHedgingMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:CashFlowHedgingMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:CashFlowHedgingMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMemberus-gaap:CashFlowHedgingMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel1Memberus-gaap:NondesignatedMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueInputsLevel1Memberus-gaap:NondesignatedMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:NondesignatedMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:FairValueInputsLevel2Memberus-gaap:NondesignatedMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:NondesignatedMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001306830us-gaap:NondesignatedMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001306830us-gaap:FairValueInputsLevel2Member2022-12-310001306830us-gaap:FairValueInputsLevel2Member2021-12-310001306830us-gaap:FairValueInputsLevel3Member2022-12-310001306830us-gaap:FairValueInputsLevel3Member2021-12-310001306830ce:EquityAffiliatesUSDDebtObligationsMemberus-gaap:FinancialGuaranteeMember2022-12-310001306830ce:EquityAffiliatesEURDebtObligationsMemberus-gaap:FinancialGuaranteeMember2022-12-310001306830ce:IndemnificationAgreementsHoechstMember2022-12-310001306830ce:IndemnificationAgreementsHoechstMember1999-11-012022-12-310001306830ce:DivestitureAgreementsMember2022-12-3100013068302019-01-012019-12-310001306830us-gaap:SettledLitigationMemberce:EuropeanCommissionCompetitionLawInvestigationMember2019-10-012020-12-310001306830ce:EngineeredMaterialsMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001306830ce:AcetylChainMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001306830us-gaap:CorporateAndOtherMemberus-gaap:CorporateNonSegmentMember2022-01-012022-12-310001306830us-gaap:IntersegmentEliminationMember2022-01-012022-12-310001306830ce:EngineeredMaterialsMemberus-gaap:OperatingSegmentsMember2022-12-310001306830ce:AcetylChainMemberus-gaap:OperatingSegmentsMember2022-12-310001306830us-gaap:CorporateAndOtherMemberus-gaap:CorporateNonSegmentMember2022-12-310001306830us-gaap:IntersegmentEliminationMember2022-12-310001306830ce:EngineeredMaterialsMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001306830ce:AcetylChainMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001306830us-gaap:CorporateAndOtherMemberus-gaap:CorporateNonSegmentMember2021-01-012021-12-310001306830us-gaap:IntersegmentEliminationMember2021-01-012021-12-310001306830ce:EngineeredMaterialsMemberus-gaap:OperatingSegmentsMember2021-12-310001306830ce:AcetylChainMemberus-gaap:OperatingSegmentsMember2021-12-310001306830us-gaap:CorporateAndOtherMemberus-gaap:CorporateNonSegmentMember2021-12-310001306830us-gaap:IntersegmentEliminationMember2021-12-310001306830ce:EngineeredMaterialsMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001306830ce:AcetylChainMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001306830us-gaap:CorporateAndOtherMemberus-gaap:CorporateNonSegmentMember2020-01-012020-12-310001306830us-gaap:IntersegmentEliminationMember2020-01-012020-12-310001306830us-gaap:IntersegmentEliminationMemberce:AcetylChainMember2022-01-012022-12-310001306830us-gaap:IntersegmentEliminationMemberce:AcetylChainMember2021-01-012021-12-310001306830us-gaap:IntersegmentEliminationMemberce:AcetylChainMember2020-01-012020-12-310001306830country:BE2022-01-012022-12-310001306830country:BE2021-01-012021-12-310001306830country:BE2020-01-012020-12-310001306830country:CA2022-01-012022-12-310001306830country:CA2021-01-012021-12-310001306830country:CA2020-01-012020-12-310001306830country:CN2022-01-012022-12-310001306830country:CN2021-01-012021-12-310001306830country:CN2020-01-012020-12-310001306830country:DE2022-01-012022-12-310001306830country:DE2021-01-012021-12-310001306830country:DE2020-01-012020-12-310001306830country:JP2022-01-012022-12-310001306830country:JP2021-01-012021-12-310001306830country:JP2020-01-012020-12-310001306830country:MX2022-01-012022-12-310001306830country:MX2021-01-012021-12-310001306830country:MX2020-01-012020-12-310001306830country:NL2022-01-012022-12-310001306830country:NL2021-01-012021-12-310001306830country:NL2020-01-012020-12-310001306830country:SG2022-01-012022-12-310001306830country:SG2021-01-012021-12-310001306830country:SG2020-01-012020-12-310001306830country:KR2022-01-012022-12-310001306830country:KR2021-01-012021-12-310001306830country:KR2020-01-012020-12-310001306830country:CH2022-01-012022-12-310001306830country:CH2021-01-012021-12-310001306830country:CH2020-01-012020-12-310001306830country:US2022-01-012022-12-310001306830country:US2021-01-012021-12-310001306830country:US2020-01-012020-12-310001306830ce:OtherForeignCountriesMember2022-01-012022-12-310001306830ce:OtherForeignCountriesMember2021-01-012021-12-310001306830ce:OtherForeignCountriesMember2020-01-012020-12-310001306830country:BE2022-12-310001306830country:BE2021-12-310001306830country:CA2022-12-310001306830country:CA2021-12-310001306830country:CN2022-12-310001306830country:CN2021-12-310001306830country:DE2022-12-310001306830country:DE2021-12-310001306830country:JP2022-12-310001306830country:JP2021-12-310001306830country:MX2022-12-310001306830country:MX2021-12-310001306830country:NL2022-12-310001306830country:NL2021-12-310001306830country:SG2022-12-310001306830country:SG2021-12-310001306830country:KR2022-12-310001306830country:KR2021-12-310001306830country:CH2022-12-310001306830country:CH2021-12-310001306830country:US2022-12-310001306830country:US2021-12-310001306830ce:OtherForeignCountriesMember2022-12-310001306830ce:OtherForeignCountriesMember2021-12-310001306830srt:NorthAmericaMemberce:EngineeredMaterialsMember2022-01-012022-12-310001306830srt:NorthAmericaMemberce:EngineeredMaterialsMember2021-01-012021-12-310001306830srt:NorthAmericaMemberce:EngineeredMaterialsMember2020-01-012020-12-310001306830us-gaap:EMEAMemberce:EngineeredMaterialsMember2022-01-012022-12-310001306830us-gaap:EMEAMemberce:EngineeredMaterialsMember2021-01-012021-12-310001306830us-gaap:EMEAMemberce:EngineeredMaterialsMember2020-01-012020-12-310001306830srt:AsiaPacificMemberce:EngineeredMaterialsMember2022-01-012022-12-310001306830srt:AsiaPacificMemberce:EngineeredMaterialsMember2021-01-012021-12-310001306830srt:AsiaPacificMemberce:EngineeredMaterialsMember2020-01-012020-12-310001306830ce:EngineeredMaterialsMembersrt:SouthAmericaMember2022-01-012022-12-310001306830ce:EngineeredMaterialsMembersrt:SouthAmericaMember2021-01-012021-12-310001306830ce:EngineeredMaterialsMembersrt:SouthAmericaMember2020-01-012020-12-310001306830srt:NorthAmericaMemberce:AcetylChainMember2022-01-012022-12-310001306830srt:NorthAmericaMemberce:AcetylChainMember2021-01-012021-12-310001306830srt:NorthAmericaMemberce:AcetylChainMember2020-01-012020-12-310001306830us-gaap:EMEAMemberce:AcetylChainMember2022-01-012022-12-310001306830us-gaap:EMEAMemberce:AcetylChainMember2021-01-012021-12-310001306830us-gaap:EMEAMemberce:AcetylChainMember2020-01-012020-12-310001306830srt:AsiaPacificMemberce:AcetylChainMember2022-01-012022-12-310001306830srt:AsiaPacificMemberce:AcetylChainMember2021-01-012021-12-310001306830srt:AsiaPacificMemberce:AcetylChainMember2020-01-012020-12-310001306830ce:AcetylChainMembersrt:SouthAmericaMember2022-01-012022-12-310001306830ce:AcetylChainMembersrt:SouthAmericaMember2021-01-012021-12-310001306830ce:AcetylChainMembersrt:SouthAmericaMember2020-01-012020-12-31
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________________________________________________________
Form 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended
December 31, 2022
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
(Commission File Number) 001-32410
ce-20221231_g1.gif
CELANESE CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Delaware98-0420726
 (State or Other Jurisdiction of Incorporation or Organization)
 
 (I.R.S. Employer Identification No.)
222 W. Las Colinas Blvd., Suite 900N
Irving, TX 75039-5421
(Address of Principal Executive Offices and zip code)
(972) 443-4000
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act
Title of Each ClassTrading Symbol(s) Name of Each Exchange on Which Registered
Common Stock, par value $0.0001 per shareCENew York Stock Exchange
1.125% Senior Notes due 2023CE /23New York Stock Exchange
1.250% Senior Notes due 2025CE /25New York Stock Exchange
4.777% Senior Notes due 2026CE /26ANew York Stock Exchange
2.125% Senior Notes due 2027CE /27New York Stock Exchange
0.625% Senior Notes due 2028CE /28New York Stock Exchange
5.337% Senior Notes due 2029CE /29ANew York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act
None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes      No 
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  Yes      No 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes     No 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes     No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated Filer    Accelerated filer    Non-accelerated filer    Smaller reporting company   ☐ Emerging growth company   ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 
Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.  
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes     No 
The aggregate market value of the registrant's common stock held by non-affiliates as of June 30, 2022 (the last business day of the registrants' most recently completed second fiscal quarter) was $12,713,879,912.
The number of outstanding shares of the registrant's common stock, $0.0001 par value, as of February 10, 2023 was 108,474,128.
DOCUMENTS INCORPORATED BY REFERENCE
Certain portions of the registrant's Definitive Proxy Statement relating to the 2023 annual meeting of shareholders, to be filed with the Securities and Exchange Commission, are incorporated by reference into Part III.


Table of Contents
CELANESE CORPORATION

Form 10-K
For the Fiscal Year Ended December 31, 2022

TABLE OF CONTENTS
Page
PART I
 
PART II
PART III
PART IV
2

Table of Contents
Special Note Regarding Forward-Looking Statements
Certain statements in this Annual Report on Form 10-K ("Annual Report") or in other materials we have filed or will file with the Securities and Exchange Commission ("SEC"), and incorporated herein by reference, are forward-looking in nature as defined in Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "plan," "may," "can," "could," "might," "will" and similar expressions identify forward-looking statements, including statements that relate to such matters as planned and expected capacity increases and utilization rates; anticipated capital spending; environmental matters; legal proceedings; sources of raw materials and exposure to, and effects of hedging of raw material and energy costs and foreign currencies; interest rate fluctuations; global and regional economic, political, business and regulatory conditions; expectations, strategies, and plans for individual assets and products, business segments, as well as for the whole Company; cash requirements and uses of available cash; financing plans; pension expenses and funding; anticipated restructuring, divestiture, and consolidation activities; planned construction or operation of facilities; cost reduction and control efforts and targets and integration of acquired businesses.
Forward-looking statements are not historical facts or guarantees of future performance but instead represent only our beliefs at the time the statements were made regarding future events, which are subject to significant risks, uncertainties, and other factors, many of which are outside of our control and certain of which are listed above. Any or all of the forward-looking statements included in this Annual Report and in any other materials incorporated by reference herein may turn out to be materially inaccurate. This can occur as a result of incorrect assumptions, in some cases based upon internal estimates and analyses of current market conditions and trends, management plans and strategies, economic conditions, or as a consequence of known or unknown risks and uncertainties. Many of the risks and uncertainties mentioned in this Annual Report, such as those discussed in Item 1A. Risk Factors, Item 3. Legal Proceedings and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations will be important in determining whether these forward-looking statements prove to be accurate. Consequently, neither our shareholders nor any other person should place undue reliance on our forward-looking statements and should recognize that actual results may differ materially from those anticipated by us.
All forward-looking statements made in this Annual Report are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed in this Annual Report will increase with the passage of time. We undertake no obligation, and disclaim any duty, to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in our expectations or otherwise. However, we may make further disclosures regarding future events, trends and uncertainties in our subsequent reports on Forms 10-K, 10-Q and 8-K to the extent required under the Exchange Act. The above cautionary discussion of risks, uncertainties and possible inaccurate assumptions relevant to our business includes factors we believe could cause our actual results to differ materially from expected and historical results. Other factors beyond those listed above or in Item 1A. Risk Factors, Item 3. Legal Proceedings and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations below, including factors unknown to us and factors known to us which we have determined not to be material, could also adversely affect us.
3

Table of Contents
Item 1. Business
Basis of Presentation
In this Annual Report on Form 10-K, the term "Celanese" refers to Celanese Corporation, a Delaware corporation, and not its subsidiaries. The terms "Company," "we," "our" and "us" refer to Celanese and its subsidiaries on a consolidated basis. The term "Celanese U.S." refers to the Company's subsidiary, Celanese US Holdings LLC, a Delaware limited liability company, and not its subsidiaries.
Industry
This Annual Report on Form 10-K includes industry data obtained from industry publications and surveys, as well as our own internal company surveys. Third-party industry publications, surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable.
Overview
We are a global chemical and specialty materials company. We are a leading global producer of high performance engineered polymers that are used in a variety of high-value applications, as well as one of the world's largest producers of acetyl products, which are intermediate chemicals for nearly all major industries. As a recognized innovator in the chemicals industry, we engineer and manufacture a wide variety of products essential to everyday living. Our broad product portfolio serves a diverse set of end-use applications including automotive, chemical additives, construction, consumer and industrial adhesives, consumer and medical, energy storage, filtration, food and beverage, paints and coatings, paper and packaging, performance industrial and textiles. Our products enjoy leading global positions due to our differentiated business models, large global production capacity, operating efficiencies, proprietary technology and competitive cost structures.
Our large and diverse global customer base primarily consists of major companies across a broad array of industries. We hold geographically balanced global positions and participate in diversified end-use applications. We combine a demonstrated track record of execution, strong performance built on differentiated business models and a clear focus on growth and value creation. Known for operational excellence, reliability and execution of our business strategies, we partner with our customers around the globe to deliver best-in-class technologies and solutions.
Celanese's history began in 1918, the year that its predecessor company, The American Cellulose & Chemical Manufacturing Company, was incorporated. The company, which manufactured cellulose acetate, was founded by Swiss brothers Drs. Camille and Henri Dreyfus. The current Celanese was incorporated in 2004 under the laws of the State of Delaware and is a U.S.-based public company traded on the New York Stock Exchange under the ticker symbol CE.
Headquartered in Irving, Texas, our operations are primarily located in North America, Europe and Asia and consist of 61 global production facilities and an additional 19 strategic affiliate production facilities. As of December 31, 2022, we employed 13,263 people worldwide.
Business Segment Overview
Effective December 31, 2022, we reorganized our operating and reportable segments to align with recent structural and management reporting changes. The change reflects the resegmentation of the former Acetate Tow operating and reportable segment into the Acetyl Chain operating and reportable segment. This reorganization reflects the culmination of a shift in operating strategy and organizational hierarchy, with a focus on integration, collaboration and maximization of value creation through its global optionality and integrated chain model of the underlying businesses.
We operate principally through two business segments: Engineered Materials and the Acetyl Chain. See Business Segments in this Item 1. Business and Note 21 - Segment Information and Note 22 - Revenue Recognition in the accompanying consolidated financial statements for further information.
4

Business Segments
Engineered Materials
ProductsMajor End-Use
Applications
Principal CompetitorsKey Raw Materials
Nylon compounds or formulations
High temperature nylons ("HTN")
Polyoxymethylene ("POM")
Polyethylene terephthalate ("PET")
Polybutylene terephthalate ("PBT")
Ultra-high molecular weight polyethylene ("UHMW-PE")
Long-fiber reinforced thermoplastics ("LFRT")
Liquid crystal polymers ("LCP")
Thermoplastic copolyesters ("TPC")
Thermoplastic vulcanizates ("TPV")
Polypropylene compounds or formulations
Polyphenylene sulfide ("PPS")
Ethylene acrylic elastomers ("EAE")
Automotive
Medical
Industrial
Energy storage
Consumer electronics
Appliances
Construction
Filtration equipment
Telecommunications
Beverages
Baked goods
Electrical
Mobility
Connectivity
Anhui Jinhe Industrial Co., Ltd.
Ascend Performance Materials LLC
BASF SE
Daicel Corporation ("Daicel")
DOMO Chemicals
E. I. du Pont de Nemours and Company
Kingfa Science and Technology
Koninklijke DSM N.V.
Korea Petrochemical Ind. Co, Ltd ("KPIC")
SABIC Innovative Plastics
Solvay S.A.
Other regional competitors:
Asahi Kasei Corporation
Braskem S.A.
Lanxess AG
Mitsubishi Gas Chemical Company, Inc.
Sumitomo Corporation
Teijin Limited
Toray Industries, Inc.
HMD
Adipic acid
Formaldehyde
DMT
BDO
Ethylene
Fiberglass
Polypropylene
Acetic anhydride
Propylene
Ethylene propylene diene monomer
Base Oil
PA6
PA66
Para-dichlorobenzene
Diketene
TPEE
PTMEG
Flame Retardants
DDDA
PTA
Methyl acrylate
Precious metals
PET
Overview
Our Engineered Materials segment includes our engineered materials business, our food ingredients business and certain strategic affiliates. The engineered materials business leverages our leading project pipeline model to more rapidly commercialize projects. Our unique approach is based on deep customer engagement to develop new projects that are aligned with our skill domains to address critical customer needs and ensure our success and growth.
Engineered Materials is a project-based business where growth is driven by increasing new project commercializations from the pipeline. Our project pipeline model leverages competitive advantages that include our global assets and resources, marketplace presence, broad materials portfolio and differentiated capabilities. Our global assets and resources are represented by our operations, including polymerization, compounding, research and development, and customer technology centers in all regions of the world, including Argentina, Belgium, Brazil, Canada, China, Germany, India, Italy, Japan, Luxembourg, Mexico, South Korea, Switzerland, Taiwan, the United Kingdom and the U.S., along with sites associated with our 16 strategic affiliates in China, Germany, Japan, Luxembourg, Netherlands, Saudi Arabia, South Korea, United Kingdom and the U.S.
In July 2020, we announced that we are establishing a European Compounding Center of Excellence at our Forli, Italy facility, which includes the intended consolidation of our compounding operations in Kaiserslautern, Germany; Wehr, Germany; and Ferrara Marconi, Italy. These operations are included in our Engineered Materials segment. We expect to complete the consolidation of the compounding operations in 2023.
On November 1, 2022, we acquired a majority of the Mobility & Materials business (the "M&M Business") of DuPont de Nemours, Inc. ("DuPont") pursuant to a definitive transaction agreement entered into on February 17, 2022 by us, DuPont and an affiliate of DuPont (the "M&M Acquisition"). The M&M Acquisition was completed for a purchase price of $11.0 billion, subject to transaction adjustments. The M&M Business is a leading global producer of engineering thermoplastics and elastomers serving a variety of end-uses including automotive, electrical and electronics, consumer goods and industrial
5

applications. The acquired M&M Business product portfolio includes numerous specialty materials with global leadership positions in nylons, specialty nylons polyesters and elastomers. See Note 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial statements for further information.
Our broad marketplace presence reflects our deep understanding of global and customer trends, including the growing global demand for more sophisticated vehicles, elevated environmental considerations, increased global connectivity, and improved health and wellness. These global trends drive a range of needed customer solutions, such as vehicle lightweighting, precise components, aesthetics and appearance, low emissions, heat resistance and low-friction for medical applications, that we are uniquely positioned to address with our materials portfolio. In addition, the opportunity pipeline process identifies a number of emerging trends early, enabling faster growth.
Our materials portfolio offers differentiated chemical and physical properties that enable them to perform in a variety of conditions. These include enduring a wide range of temperatures, resisting adverse chemical interactions and withstanding deformation. Nylon compounds are used in a range of applications including automotive, consumer, electrical, electronic and industrial. These value-added applications in diverse end uses support the business' global growth objectives. POM, PBT and LFRT are used in a broad range of performance-demanding applications, including fuel system components, automotive safety systems, consumer electronics, appliances, industrial products and medical applications. UHMW-PE is used in battery separators, industrial products, filtration equipment, coatings and medical applications. Primary end uses for LCP are electrical applications or products and consumer electronics. Thermoplastic elastomers offer unique attributes for use in automotive, appliances, consumer goods, electrical, electronic and industrial applications.
We also have several differentiated polymer technologies designed for the utility industry, the oil and gas industry, original equipment manufacturers and companies that enhance supply chain efficiency. These include composite technologies for the utility industry that deliver greater reliability, capacity and performance for utility transmission lines.
Our differentiated capabilities are highlighted in our intimate and unique customer engagement which allows us to work across the entirety of our customers' value chain. For example, in the automotive industry we work with original equipment manufacturers as well as system and tier suppliers and injection molders in numerous areas, including polymer formulation and functionality, part and structural design, mold design, color development, part testing and part processing. This broad access allows us to create a demand pull for our solutions. This business segment also includes 16 strategic affiliates that complement our global reach, improve our ability to capture growth opportunities in emerging economies and positions us as a leading participant in the global specialty polymers industry.
Key Products
Nylon. Our nylon products include Nylfor® A (PA 6.6), Nylfor® B (PA 6), NILAMID® (PA 6, PA 66, PPA), FRIANYL® (flame retardant PA 6, PA 66, PPA compounds), ECOMID® (recycled polyamide), Zytel® (PA, PA 6, PA 66, PA 610, PA 612), Zytel® HTN (PPA) and Zytel® LCPA (long-chain polyamide) and are used in automotive, appliances, electrical, medical, industrial and consumer applications due to their mechanical properties, dimensional stability, high impact resistance, resistance to organic solvents, high wear and fatigue resistance even at high temperatures, and easy processing and molding.
POM. Commonly known as polyacetal in the chemical industry, POM is sold by our engineered materials business under the trademarks Celcon®, Hostaform® and Tarnoform®. POM is used for diverse end-use applications in the automotive, industrial, consumer and medical industries. These applications include mechanical parts in automotive fuel system components and window lift systems, water handling, conveyor belts, sprinkler systems, drug delivery systems and gears in large and small home appliances.
We continue to innovate and broaden the portfolio of Celcon®, Hostaform® and Tarnoform® in order to support the industry needs for higher performing polyacetal. We have expanded our portfolio to include products with higher impact resistance and stiffness, low emissions, improved wear resistance and enhanced appearance such as laser marking and metallic effects. We launched POM ECO-B, a sustainable polyacetal, which allows customers to realize reduction in carbon dioxide emissions in their end-use products and advance toward their renewable content goals.
Korea Engineering Plastics Co., Ltd., our 50%-owned strategic affiliate, manufactures POM and other engineering resins in the Asia-Pacific region. For further discussion, see Strategic Affiliates in this Item 1. Business.
National Methanol Company, our 25% owned strategic affiliate, produces methanol which is a key feedstock for POM production. Its production facilities are located in Saudi Arabia. For further discussion, see Strategic Affiliates in this Item 1. Business.
6

The primary raw material for POM is formaldehyde, which is manufactured from methanol. Raw materials are sourced from internal production and from third parties, generally through long-term contracts.
Polyesters. Our products include a series of thermoplastic polyesters including Celanex® PBT, Crastin® PBT, Melinex®, Mylar® and Thermx® PCT (polycyclohexylene-dimethylene terephthalate), as well as Rynite® PET, a polyester resin. These products are used in a wide variety of automotive, electrical, medical, industrial and consumer applications, including ignition system parts, radiator grilles, electrical switches, medical devices, insulation, photovoltaic panels, critical energy components, appliance and sensor housings, light emitting diodes and technical fibers.
UHMW-PE. Celanese is a global leader in UHMW-PE products, which are sold under the GUR® trademark. They are highly engineered thermoplastics designed for a variety of industrial, consumer and medical applications. Primary applications for the material include lead acid battery separators, heavy machine components, lithium ion separator membranes, and noise and vibration dampening tapes. Several specialty grades are also produced for applications in high performance filtration equipment, ballistic fibers, thermoplastic and elastomeric additives, as well as medical implants.
LFRT. Celstran® and Factor®, our LFRT products, impart extra strength and stiffness, making them more suitable for larger parts than conventional thermoplastics. These products are used in automotive, transportation and industrial applications, such as instrument panels, consoles and front end modules. LFRTs meet a wide range of end-user requirements and are excellent candidates for metal replacement where they provide the required structural integrity with significant weight reduction, corrosion resistance and the potential to lower manufacturing costs.
LCP. Vectra® and Zenite®, our LCP brands, are primarily used in electrical and electronics applications for precision parts with thin walls and complex shapes and applications requiring heat dissipation. They are also used in high heat cookware applications.
TPE. Forprene®, Sofprene® T, Laprene® and Hytrel®, our TPE brands, are primarily used in automotive, construction, appliances and consumer applications due to their ability to combine the advantages of both flexible and plastic materials. These materials are selected for their ability to stretch and return to their near original shape creating a longer life and better physical range than other materials.
TPV. SantopreneTM, DytronTM and GeolastTM, our TPV trademarks, are chemically cross-linked, high-performance materials which leverage a unique combination of engineering thermoplastic and elastomer properties. These products are used in future mobility, infrastructure, medical and sustainability applications.
Polypropylene. Our polypropylene products include Polifor® and Tecnoprene® and are primarily used in automotive, appliances, electrical and consumer applications due to their high impact and fatigue resistance, exceptional rigidity at high temperatures and an ability to withstand chemical agents.
VitalDose®. Our ethylene vinyl acetate ("EVA") copolymers, sold under the VitalDose® trademark, are an enabling technology used for controlled-release drugs, medical implants and combination devices, including drug-eluting implants, reliable controlled-release performance in subcutaneous and surgical implants, intravitreal and extraocular devices.
Elastomers. Vamac® EAE, our elastomer brand, is primarily used in variety of demanding automotive applications, including electric and hybrid vehicle components. These materials can be formulated to provide excellent resistance to extreme temperatures and fluids.
Customers
Engineered Materials' principal customers are original equipment manufacturers and their suppliers serving the automotive, medical, industrial and consumer industries. We utilize our customer options mapping process to collaborate with our customers to identify customized solutions that leverage our broad range of polymers and technical expertise. Our engineered materials business has long-standing relationships through multi-year and annual arrangements with many of its major customers and utilizes distribution partners to expand its customer base.
Because Engineered Materials is a project-based business focused on solutions, the pricing of products in this segment is primarily based on the value-in-use and is generally independent of changes in the cost of raw materials. Therefore, in general, margins may expand or contract in response to changes in raw material costs.
See Note 22 - Revenue Recognition in the accompanying consolidated financial statements for further information.
7

Acetyl Chain
ProductsMajor End-Use
Applications
Principal CompetitorsKey Raw Materials
Acetic acid
Vinyl acetate monomer ("VAM")
Vinyl acetate ethylene ("VAE") emulsions
Conventional emulsions
Ethylene vinyl acetate ("EVA") resins and compounds
Low-density polyethylene resins ("LDPE")
Redispersible Powders ("RDP")
Acetic anhydride
Acetaldehyde
Ethyl acetate
Formaldehyde
Butyl acetate
Acetate tow
Acetate flake
Paints
Coatings
Adhesives
Textiles
Paper finishing
Flexible packaging
Lamination products
Pharmaceuticals
Films
Inks
Plasticizers
Solvents
Automotive parts
External thermal insulation composite systems
Tiling
Plasters and renders
Lubricants
Filtration

Arkema
BASF SE
Cerdia
Chang Chun Petrochemical Co., Ltd.
Daicel
Dairen Chemical Corporation
Dow Inc.
Eastman Chemical Company
E. I. du Pont de Nemours and Company
ExxonMobil Chemical
Huayi Chemical Co., Ltd.
INEOS
Jiangsu Sopo (Group) Co., Ltd.
Kuraray Co., Ltd.
LyondellBasell Industries N.V.
Nippon Gohsei
Showa Denko K.K.
Sipchem
Wacker Chemie AG
Methanol
Carbon monoxide
Ethylene
Acetic acid
VAM
VAE emulsions
Conventional emulsions
Acrylate esters
Styrene
Polyvinyl alcohol
Wood pulp
Acetic anhydride
Overview
The Acetyl Chain segment, which includes the integrated chain of intermediate chemistry, emulsion polymers, EVA polymers, redispersible powders, and acetate tow businesses, is active in every major global industrial sector and serves diverse consumer end-use applications. These include traditional vinyl-based end uses, such as paints and coatings and adhesives, as well as other unique, high-value end uses including flexible packaging, thermal laminations, wire and cable, and compounds.
Our intermediate chemistry business produces and supplies acetyl products, including acetic acid, VAM, acetic anhydride and acetate esters. These products are generally used as starting materials for colorants, paints, adhesives, coatings and pharmaceuticals. Our intermediate chemistry business also produces organic solvents and intermediates for pharmaceutical, agricultural and chemical products.
We have focused in recent years on enhancing our ability to drive incremental value through our global production network and productivity initiatives as well as proactively managing the intermediate chemistry business in response to trade flows and prevailing industry trends. Our intermediate chemistry business has production sites in China, Germany, Mexico, Singapore and the U.S. We are a global industry leader, with a broad acetyls product portfolio, leading technology, low cost production footprint and a global supply chain. With decades of experience, advanced proprietary process technology and favorable capital and production costs, we are a leading global producer of acetic acid and VAM. AOPlus®3 technology extends our historical technology advantage and enables us to construct a greenfield acetic acid facility with a capacity of 1.8 million metric tons at a lower capital cost than our competitors. Our VAntage®2 technology could increase VAM capacity to meet growing customer demand globally with minimal investment. We believe our production technology is among the lowest cost in the industry and provides us with global growth opportunities through low cost expansions and a cost advantage over our competitors.
Our emulsion polymers business is a leading global producer of vinyl acetate-based emulsions and develops products and application technologies to improve performance, create value and drive innovation in applications such as paints and coatings, adhesives, construction, glass fiber, textiles and paper. Our emulsion polymers products are sold under globally and regionally recognized brands including EcoVAE®, Mowilith®, Vinamul®, Celvolit®, Dur-O-Set®, TufCOR® and Avicor®. The emulsion polymers business has production facilities in Canada, China, Germany, the Netherlands, Singapore, Sweden and the U.S. and is supported by expert technical service regionally.
8

Our EVA polymers business is a leading North American manufacturer of a full range of specialty EVA resins and compounds, as well as select grades of LDPE. Sold under the Ateva® brand, these products are used in many applications, including flexible packaging films, lamination film products, hot melt adhesives, automotive parts and carpeting. Our EVA polymers business has a production facility in Canada.
Our intermediate chemistry business produces VAM, a primary raw material for our emulsion polymers and EVA polymers businesses. Ethylene, another key raw material, is purchased externally from a variety of sources through annual or multi-year contracts.
Our RDP business is a leading manufacturer of redispersible polymer powders, sold under the Elotex® brand. The business produces polymer emulsions which are converted into powdered thermoplastic resin materials. RDP products are used in a variety of applications in the mortar industry, including decorative mortar, exterior insulation and finish systems, gypsum-based materials, plaster and render, self-leveling floor systems, skim coat and tile adhesives.
Our acetate tow business is a leading global producer and supplier of acetate tow and acetate flake, primarily used in filter products applications. We hold an approximately 30% ownership interest in three separate ventures in China that produce acetate flake and acetate tow. China National Tobacco Corporation, a Chinese state-owned tobacco entity, has been our venture partner for over three decades. Our acetate tow business has production sites in Belgium and the U.S., along with sites at our three strategic affiliates in China.
Key Products
Acetyl Products. Acetyl products include acetic acid, VAM, acetic anhydride and acetaldehyde. Acetic acid is primarily used to manufacture VAM, purified terephthalic acid and other acetyl derivatives. VAM is used in a variety of adhesives, paints, films, coatings and textiles. Acetic anhydride is a raw material used in the production of cellulose acetate, detergents and pharmaceuticals. Acetaldehyde is a major feedstock for the production of a variety of derivatives, such as pyridines, which are used in agricultural products. We manufacture acetic acid, VAM and acetic anhydride for our own use in producing downstream, value-added products, as well as for sale to third parties.
Acetic acid and VAM, our basic acetyl intermediates products, leverage global supply and demand fundamentals. The principal raw materials in these products are carbon monoxide, methanol and ethylene. We generally purchase carbon monoxide under long-term contracts, and we also produce carbon monoxide in our Clear Lake facility. We generally purchase methanol and ethylene under both annual and multi-year contracts. Methanol and ethylene are commodity products and generally available from a wide variety of sources, while carbon monoxide is typically purpose-made in close proximity.
We have a joint venture, Fairway Methanol LLC ("Fairway"), with Mitsui & Co., Ltd., of Tokyo, Japan ("Mitsui"), in which we own a 50% interest, for the production of methanol at our integrated chemical plant in Clear Lake, Texas. The methanol unit utilizes natural gas in the U.S. Gulf Coast region as a feedstock. Almost all of our North American methanol needs are met from our share of the production, as well as the long-term contract we have with our joint venture partner, Mitsui.
Sales from acetyl products amounted to 30%, 36% and 27% of our consolidated net sales for the years ended December 31, 2022, 2021 and 2020, respectively.
Solvents and Derivatives. We manufacture a variety of solvents, formaldehyde and other chemicals, which in turn are used in the manufacture of paints, coatings, adhesives and other products. Many solvents and derivatives products are derived from our production of acetic acid. Primary products are:
Ethyl acetate, an acetate ester that is a solvent used in coatings, inks and adhesives;
Butyl acetate, an acetate ester that is a solvent used in inks, pharmaceuticals and perfume; and
Formaldehyde and paraformaldehyde, which are primarily used to produce adhesive resins for plywood, particle board, coatings, POM engineering resins and a compound used in making polyurethane.
Emulsion Polymers. Our emulsion polymers business produces conventional vinyl- and acrylate-based emulsions and VAE emulsions. VAE emulsions are a key component of water-based architectural coatings, adhesives, non-wovens, textiles, glass fiber and other applications. VAE emulsions are in high demand in Europe and Asia as they enable low volatile organic compound paints, specifically in interior paints.
9

EVA Polymers. Our EVA polymers business produces low-density polyethylene, EVA resins and compounds. Low-density polyethylene is produced in high-pressure reactors from ethylene, while EVA resins and compounds are produced in high-pressure reactors from ethylene and VAM.
Redispersible Powders. Our RDP business produces a number of emulsions for use in manufacturing redispersible powders to meet requirements for various applications and formulated to fit our customers' needs for optimal production.
Acetate tow and acetate flake. Acetate tow is a fiber used primarily in cigarette filters. In order to produce acetate tow, we first produce acetate flake by processing wood pulp with acetic acid and acetic anhydride. Wood pulp generally comes from reforested trees and is purchased externally from a variety of sources, and acetic anhydride is an intermediate chemical that we produce from acetic acid in our intermediate chemistry business. Acetate flake is then further processed into acetate tow.
Customers
Our intermediate chemistry business sells its products both directly to customers and through distributors. Acetic acid, VAM and acetic anhydride are global businesses, and we generally supply our customers under a mix of short- and long-term agreements. Acetic acid, VAM and acetic anhydride customers produce polymers used in water-based paints, adhesives, paper coatings, polyesters, film modifiers, pharmaceuticals, cellulose acetate and textiles. We have long-standing relationships with most of these customers. Solvents and derivatives are sold to a diverse group of regional and multinational customers under multi-year contracts and on the basis of long-standing relationships. Solvents and derivatives customers are primarily engaged in the production of paints, coatings and adhesives. We manufacture formaldehyde for our own use as well as for sale to a few regional customers.
Emulsion, RDP and EVA polymers products are sold to a diverse group of regional, family owned and multinational customers. Customers of our emulsion polymers and RDP business are manufacturers of water-based paints and coatings, adhesives, paper, building and construction products, glass fiber, non-wovens, textiles and premixed dry mortars. Customers of our EVA polymers business are engaged in the manufacture of a variety of products, including hot melt adhesives, automotive components, thermal laminations, and flexible and food packaging materials.
Acetate tow is sold principally to the major tobacco companies that account for a majority of worldwide cigarette production. Many sales are conducted under contracts with pricing for one or more years. As a result, margins may expand or contract in response to changes in market conditions over these similar periods, and we may be unable to adjust pricing due to other factors, such as the intense level of competition in the industry.
Pricing of our products within the Acetyl Chain segment is influenced by industry utilization, changes in the cost of raw materials, sensitivity to demand and the value-in-use. Therefore, in general, there is a direct correlation between these factors and our net sales for most Acetyl Chain products. This impact to pricing typically lags changes in raw material costs over months or quarters and impacts profit margins over those periods.
See Note 22 - Revenue Recognition in the accompanying consolidated financial statements for further information.
Other Activities
Other Activities primarily consists of corporate center costs, including administrative activities such as finance, information technology and human resource functions, interest income and expense associated with our financing activities and results of our captive insurance companies. Our two wholly-owned captive insurance companies are a key component of our global risk management program, as well as a form of self-insurance for our liability, property and workers compensation risks. The captive insurance companies retain risk at levels approved by management and obtain reinsurance coverage from third parties to limit the net risk retained. Other Activities also includes the interest cost, expected return on assets and net actuarial gains and losses components of our net periodic benefit cost for our defined benefit pension plans and other postretirement plans, which are not allocated to our business segments. Ongoing merger, acquisition and integration related costs are also included in Other Activities.
Strategic Affiliates
Our strategic affiliates represent an important component of our strategy. During 2022, we acquired interests in several global strategic affiliates as part of the M&M Acquisition, described below. We have a substantial portfolio of affiliates in various regions, including Asia-Pacific, Europe, North America and the Middle East. These affiliates have sizeable operations and are significant within their industries.
10

With shared characteristics such as products, applications and manufacturing technology, these strategic affiliates complement and extend our technology and specialty materials portfolio. We have historically entered into these investments to gain access to local demand, minimize costs and accelerate growth in areas we believe have significant future business potential.
Our strategic affiliates contribute substantial earnings and cash flows to us. During the year ended December 31, 2022, our equity method strategic affiliates generated combined sales of $2.3 billion, resulting in our recording $181 million of equity in net earnings of affiliates and $187 million of dividends.
Our strategic affiliates as of December 31, 2022 are as follows:
Location of
Headquarters
OwnershipPartner(s)Year
Entered
Equity Investments
Engineered Materials
National Methanol CompanySaudi
Arabia
25 %Saudi Basic Industries Corporation (50%);
Duke Energy Arabian Ltd. (25%)
1981
Korea Engineering Plastics Co., Ltd.South
Korea
50 %Mitsubishi Gas Chemical Company, Inc. (40%);
Mitsubishi Corporation (10%)
1999
Fortron Industries, LLCU.S.50 %Kureha America Inc. (50%)1992
Toray Celanese Co., Ltd.Japan50 %Toray (50%)2022
DuBay Polymer GmbHGermany50 %Lanxess AG (50%)2022
DuPont Teijin Films UK Ltd.United Kingdom50 %Teijin Limited (50%)2022
DuPont Teijin Films Netherlands B.V.Netherlands50 %Teijin Limited (50%)2022
DuPont Teijin Films Luxembourg S.A.Luxembourg50 %Teijin Limited (50%)2022
DuPont Teijin Films US Limited PartnershipU.S.50 %Teijin Limited (50%)2022
Teijin-DuPont Films, IncorporatedU.S.50 %Teijin Limited (50%)2022
Consolidated Investments
Engineered Materials
DuPont Teijin Films China Ltd.China51 %Teijin Limited (49%)2022
DuPont Teijin Hongji Films Ningbo Co. Ltd.China26 %Teijin Limited (73.99%)2022
DuPont Hongji Films Foshan Co. Ltd.China26 %Teijin Limited (73.99%)2022
DuPont Filaments-Americas, LLCU.S.70 %Xingda (30%)2022
DuPont Filaments Europe, BVNetherlands70 %Xingda (30%)2022
DuPont Xingda Filaments Co LtdChina70 %Xingda (30%)2022
Acetyl Chain
Fairway Methanol LLCU.S.50 %Mitsui & Co., Ltd. (50%)2014
Equity Investments Without Readily Determinable Fair Value
Acetyl Chain
Kunming Cellulose Fibers Company, LimitedChina30 %China National Tobacco Corporation (70%)1993
Nantong Cellulose Fibers Company, LimitedChina31 %China National Tobacco Corporation (69%)1986
Zhuhai Cellulose Fibers Company, LimitedChina30 %China National Tobacco Corporation (70%)1993
11

National Methanol Company. National Methanol Company ("Ibn Sina") represents approximately 1% of the world's methanol production capacity and is one of the world's largest producers of methyl tertiary-butyl ether, a gasoline additive. Its production facilities are located in Saudi Arabia. Saudi Basic Industries Corporation ("SABIC") is responsible for all product marketing. Methanol is a key feedstock for POM production and is produced by our Ibn Sina affiliate which provides an economic hedge against raw material costs in our engineered materials business.
Korea Engineering Plastics Co., Ltd. Korea Engineering Plastics Co., Ltd. ("KEPCO") is a leading producer of POM in South Korea. KEPCO has polyacetal production facilities in Ulsan, South Korea, compounding facilities for PBT and nylon in Pyongtaek, South Korea, and participates with Mitsubishi Gas Chemical Company, Inc. in a world-scale POM facility in Nantong, China. In December 2020, we signed a memorandum of understanding with our joint venture partners to restructure KEPCO, in which we and our joint venture partners will receive exclusive offtake rights to POM in Asia and global marketing rights without restrictions. On April 1, 2022, we completed the joint venture restructuring of KEPCO. As part of the restructuring of KEPCO, we paid KEPCO $5 million and will pay 5 equal annual installments of €24 million on October 1 of each year beginning in 2022. This resulted in an increase to our investment in KEPCO of $134 million. Our joint venture partner will be making similar payments to KEPCO. The restructuring did not result in a change in ownership percentage of KEPCO, nor a change in control, and KEPCO will continue to be accounted for as an equity method investment.
Fortron Industries, LLC. Fortron Industries LLC ("Fortron") is a leading global producer of PPS, sold under the Fortron® brand, which is used in a wide variety of automotive and other applications, especially those requiring heat and/or chemical resistance. Fortron's facility is located in Wilmington, North Carolina. This venture combines our sales, marketing, distribution, compounding and manufacturing expertise with the PPS polymer technology expertise of Kureha America Inc.
Toray Celanese Co., Ltd. Toray Celanese Co., Ltd. manufactures Hytrel® for sale primarily in the Japanese market. Hytrel® is a versatile material with the ability to flex in multiple directions long after rubber would break. Its strength and durability, combined with its heat resilience and chemical resistance make it an essential ingredient in automotive and construction applications due to its ability to combine the advantages of both flexible and plastic materials.
DuBay Polymer GmbH. DuBay Polymer GmbH is a manufacturing joint venture with Lanxess AG for the production of PBT-based products.
DuPont Teijin Films. DuPont Teijin Films is a leading global producer of PET and polyethylene naphthalate ("PEN") polyester films, which are used in a wide variety of end markets from healthcare to industrial and electronics. Mylar® and Melinex® brand films, known for their wide range of performance capabilities, are used in a variety of applications.
DuPont Filaments. DuPont Filaments is a joint venture with Xingda for the production and sale of nylon and PBT-based filament products used in the personal care, construction and industrial end-markets.
Acetyl Chain strategic ventures. Our Acetyl Chain ventures generally fund their operations using operating cash flow and pay dividends based on each ventures' performance in the preceding year. In 2022, 2021 and 2020, we received cash dividends of $132 million, $146 million and $126 million, respectively.
Although our ownership interest in each of our Acetyl Chain ventures exceeds 20%, we account for these investments at cost after considering observable price changes for similar instruments, minus impairment, if any, because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities, limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the United States of America. Further, these investments were determined not to have a readily determinable fair value.
12

Other Equity Method Investments
InfraServs. We hold indirect ownership interests in several German InfraServ Groups that own and develop industrial parks and provide various technical and administrative services to tenants. Our ownership interest in the equity investments in InfraServ affiliates are as follows:
As of December 31, 2022
(In percentages)
InfraServ GmbH & Co. Gendorf KG30
InfraServ GmbH & Co. Hoechst KG31
Yncoris GmbH & Co. KG22
Intellectual Property
We attach importance to protecting our intellectual property, including safeguarding our confidential information and through our patents, trademarks and copyrights, in order to preserve our investment in research and development, manufacturing and marketing. Patents may cover processes, equipment, products, intermediate products and product uses. We also seek to register trademarks as a means of protecting the brand names of our Company and products.
Patents. In most industrial countries, patent protection exists for new substances and formulations, as well as for certain unique applications and production processes. However, we do business in regions of the world where intellectual property protection may be limited and difficult to enforce.
Confidential Information. We maintain stringent information security policies and procedures wherever we do business. Such information security policies and procedures include data encryption, controls over the disclosure and safekeeping of confidential information and trade secrets, as well as employee awareness training.
Trademarks. Amcel®, AOPlus®, Ateva®, Avicor®, Celanese®, Celanex®, Celanyl®, Celcon®, Celstran®, Celvolit®, Clarifoil®, Crastin®, Dur-O-Set®, Dytron®, ECOMID®, EcoVAE®, Elotex®, Factor®, Forprene®, FRIANYL®, Fortron®, Geolast®, GHR®, GUR®, Hostaform®, Hytrel®, Laprene®, Melinex®, MetaLX®, Mowilith®, MT®, Mylar®, NILAMID®, Nutrinova®, Nylfor®, OmniLon®, Pibifor®, Pibiter®, Polifor®, Resyn®, Rynite®, Santoprene®, SlideX®, Sofprene®, Sofpur®, Sunett®, Talcoprene®, Tarnoform®, Tecnoprene®, TufCOR®, Vamac®, VAntage®, Vectra®, Vinac®, Vinamul®, VitalDose®, Zenite®, Zytel® and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by Celanese. The foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by Celanese. Fortron® is a registered trademark of Fortron Industries LLC. Hostaform® is a registered trademark of Hoechst GmbH. Mowilith® and NILAMID® are registered trademarks of Celanese in most European countries.
We monitor competitive developments and defend against infringements on our intellectual property rights. Neither Celanese nor any particular business segment is materially dependent upon any one patent, trademark, copyright or trade secret.
Environmental and Other Regulation
Matters pertaining to environmental and other regulations are discussed in Item 1A. Risk Factors, as well as Note 2 - Summary of Accounting Policies, Note 13 - Environmental and Note 19 - Commitments and Contingencies in the accompanying consolidated financial statements.
We expect to incur approximately $20 million to $40 million in capital expenditures for environmental control measures in each of 2023 and 2024.
Climate Change
Climate change is one of the most challenging and significant issues facing the world today, and we seek to do our part to make sustainable progress toward addressing this challenge.
The nature of our operations is energy and fossil fuel intensive. We have therefore invested in capital projects to increase energy efficiency, improve reliability, recover and reuse waste heat, and increase our purchase of renewable energy as well as more sustainable raw materials. These include a combined heat and power unit at our Lanaken, Belgium facility, a waste-to-
13

energy system in Nanjing, China, using solar energy at our Clear Lake, Texas facility designed for use by us and our onsite industrial partners, and a carbon dioxide capture and conversion to methanol project at our Clear Lake, Texas facility.
We are also focused on developing products to help our customers meet their sustainability goals. Examples include products for improving the sustainability of building and construction materials, adhesives, fiber coatings, flexible packaging, vehicle lightweighting and powering electric vehicles. We are also focused on making our own products from more sustainable sources, including increasing our offering products using biocertified content or recycled feedstocks. We believe these capabilities, together with trends such as the automobile industry's commitment towards improved energy efficiency and clean energy, present market opportunities for us.
With the fourth quarter 2022 publication of our 2021-2022 Sustainability Report, we have reported gross Scope 1 and Scope 2 greenhouse gas ("GHG") emissions for 2020 and 2021 using The Greenhouse Gas Protocol, A Corporate Accounting and Reporting Standard, as a guide. Updated 2022 emissions figures were not available at the time of this filing. We have also announced a Scope 1 and 2 GHG emissions reduction target described in our 2021-2022 Sustainability Report, obtained limited external assurance on our baseline 2021 environmental metrics, and are working to better understand where we can further reduce our GHG emissions sources and to integrate the M&M Business into our GHG measurement and reporting processes.
For information on the risks we face related to climate change and other sustainability matters as well as, potential legislative and regulatory developments in this area that may increase our operating costs, potentially significantly, please see the risk factors in Item 1A. Risk Factors titled "We are subject to financial, regulatory, physical risks and transition associated with climate change and other sustainability matters as well as potential legislation, regulation and international accords to address climate change and other sustainability matters," "Changes in environmental, health and safety regulations in the jurisdictions where we manufacture or sell our products could lead to a decrease in demand for our products" and "Our aspirations, goals, and initiatives related to sustainability, and our public statements and disclosures regarding them, expose us to risks." Climate-related regulatory risks are assessed as a part of our Enterprise Risk Management process. However, due to the level of uncertainty regarding what legislative or regulatory requirements may be enacted, it is not possible for us to estimate the impact of climate-related developments on our results of operations or financial conditions.
Human Capital Resources
Workforce Composition and Diversity, Equity and Inclusion
Our business is operated by a diverse and global workforce, with employees in the following key geographies:
Employees as of December 31, 2022
North America
U.S.4,722 
Other North America688 
Total5,410 
Europe
Germany1,896 
Other Europe2,854 
Total4,750 
Asia
China1,838 
Other Asia1,074 
Total2,912 
Rest of World191 
Total13,263 
14

We believe that providing a workplace that promotes mutual respect and inclusion for all employees is critical to our success and to driving innovation and growth. To that end, we continue to make progress in our efforts to promote diversity, equity and inclusion in our Company. In order attract a diverse pipeline of talent, we engage with historically black colleges and universities ("HBCUs"), trade associations and other professional groups to broaden our candidate pool. Our Diversity, Equity and Inclusion Council elevates employee voice to inform activities that foster an inclusive environment for all. We promote engagement globally through 59 chapters of nine different Employee Resource Groups designed to inspire, develop and increase the visibility, representation and promotion of underrepresented groups.
As of December 31, 2022:
globally, women represent approximately 44% of our senior leadership team and 25% of our overall workforce; and
in the U.S., people of color represent approximately 13% of our senior leadership team and 30% of our overall workforce.
The following shows our attrition rate for the year ended December 31, 2022:
Attrition Rate
Employee Category
Global employees10.9 %
Women (globally)12.2 %
People of Color (U.S.)12.9 %
Stewardship: Health, Safety and Environmental
We focus on more than the occupational health and safety of our employees, contractors and any visitors to our sites. We have an expanded view and measurement of "Stewardship" that includes process safety and releases to the environment since these incidents may have an impact on the communities where we live and work. Our Stewardship values are critical to our success in attracting and retaining the best industry talent across the globe.
We strive to do no harm to people, the environment or the communities that host our facilities. We believe in continuous improvement in our Stewardship culture by building competency in our people and having a comprehensive management system built from recognized global practices. Our values include a commitment to the health and safety of our employees, contractors, communities and the environment.
We utilize a mixture of leading and lagging indicators to assess the Stewardship performance of our operations. Lagging indicators for occupational health and safety include the Occupational Safety and Health Administration ("OSHA") Total Recordable Incident Rate ("TRIR") and the OSHA Lost Time Incident Rate ("LTIR") based upon the number of incidents per 200,000 work hours of both employees and contractors. Process Safety lagging indicators follow the industry standard from API RP 754 for Tier 1 and Tier 2 events for incident count, rate, and severity. The criteria for tracking release to the environment lagging indicators are 10% or greater of the Celanese reportable quantity (based on U.S. Environmental Protection Agency ("EPA") methodology or internal values). Examples of Stewardship Tier 3 leading indicators include reporting and resolution of near miss events and hazard recognitions, all loss of primary containment releases and challenges to process safety systems.
For the year ended December 31, 2022, we had a TRIR of 0.24 and a LTIR of 0.04, which includes two months of safety statistics from the M&M Business. These statistics exclude COVID-19 related work place transmissions. Through deliberate actions, we have reduced our TRIR and LTIR rates by 23% and 69%, respectively, since 2017.
Rounding out our Stewardship performance in 2022, we had 11 Tier 1 and Tier 2 process safety incidents and 9 releases to the environment above the 10% significant threshold. Any other loss of primary containment incidents, challenges to pressure relief systems, safety instrumented systems and safe operating limits are tracked as Tier 3 leading indicators. Our expanded tracking of leading indicator events helps identify potential emerging deficiencies that enables us to take continuous improvement actions. For example, this past year we concentrated heavily on improving our hazard identification and risk assessment and migration systems, hand safety awareness (the most commonly impacted body part) and establishing clear requirements regarding our fundamental life critical procedures and their field execution while focusing to prevent injuries with the most significant consequences. In 2023, the criteria for tracking release to the environment lagging indicators referenced above
15

changed from a Celanese based reportable quantity to a criteria that includes impact to the community and notification to a regulatory authority outside of routine communications.
Talent Development
We are committed to fostering an engaging and inclusive workplace with opportunities for collaboration, development and leadership. Our Talent Management strategies provide a consistent and efficient approach to how we acquire talent, manage performance, develop bench strength, support development and help employees reach their fullest potential.
We have a structured approach to reviewing talent with management, as well as with the Board of Directors. This includes discussions of employee development, executive succession, diversity, talent pipelines and workforce planning requirements. We regularly report to the Board of Directors on talent management strategies across functional areas, and annually review executive succession with the Board of Directors.
Available Information — Securities and Exchange Commission ("SEC") Filings and Corporate Governance Materials
We make available free of charge, through the investor portion of our internet website (http://investors.celanese.com), our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as well as ownership reports on Form 3 and Form 4, as soon as reasonably practicable after electronically filing such material with, or furnishing it to, the SEC. References to our website in this report are provided as a convenience, and the information on our website is not, and shall not be deemed to be a part of this report or incorporated into any other filings we make with the SEC. The SEC maintains a website that contains reports, proxy and information statements, and other information regarding issuers, including Celanese Corporation, that electronically file with the SEC at http://www.sec.gov.
We also make available free of charge, through our website, our Corporate Governance Guidelines of our Board of Directors and the charters of each of the standing committees of our Board of Directors.
Item 1A.  Risk Factors
The following risks could materially and adversely affect our business, financial condition, cash flows and results of operations, and the trading price of our common stock or outstanding senior notes could decline. These risk factors do not identify all risks that we face; our operations could also be affected by factors that are not presently known to us or that we currently consider to be immaterial to our operations. Due to risks and uncertainties, known and unknown, our past financial results may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results or trends in future periods. Refer also to the other information set forth in this Form 10-K, including in Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and the accompanying consolidated financial statements and notes thereto.
Risks Related to Business and Industry Conditions
We are exposed to general economic, political and regulatory conditions and risks in the countries in which we have operations and customers.
We operate globally and have customers in many countries. Our major facilities are primarily located in North America, Europe and Asia, and we hold interests in affiliates that operate in the United States ("U.S."), Germany, China, Japan, South Korea and Saudi Arabia. Our principal customers are similarly global in scope and the prices of our most significant products are typically regional or world market prices. Consequently, our business and financial results are affected, directly and indirectly, by world economic conditions, including instability in credit markets, declining consumer and business confidence, fluctuating commodity prices and interest rates, cost inflation, volatile exchange rates and other challenges such as the changing regulatory environment.
Our operations are also subject to global political conditions. For example, any future withdrawal or renegotiation of trade agreements, or the failure to reach agreement over trade agreements, or the imposition of new or increased tariffs on our products or raw materials, or the more aggressive prosecution of trade disputes with countries like China, may increase costs or reduce profitability, or adversely affect our ability to operate our business and execute our growth strategy. In addition, it may be more difficult for us to enforce agreements, collect receivables, receive dividends and repatriate earnings through foreign legal systems. In certain foreign jurisdictions our operations are subject to nationalization and expropriation risk and some of our contractual relationships within these jurisdictions are subject to cancellation without full compensation for loss.
16

Table of Contents
Furthermore, in certain cases where we benefit from local government subsidies or other undertakings, such benefits are subject to the solvency of local government entities and are subject to termination without meaningful recourse or remedies.
We have invested significant resources in China and other Asian countries. This region's growth may slow, or trade flows could be negatively impacted, and we may fail to realize the anticipated benefits associated with our investment there and, consequently, our financial results may be adversely impacted.
In addition, we have significant operations and financial relationships based in Europe. Historically, sales originating in Europe have accounted for over one-third of our net sales annually, and accounted for approximately 35% of our Net sales in 2022. Adverse conditions in the European economy may negatively impact our overall financial results due to reduced economic growth, trade disruptions, decreased end-use customer demand or other factors.
We are subject to risks associated with the increased volatility in the prices and availability of key raw materials and energy, which could have a significant adverse effect on the margins of our products and our financial results.
We purchase significant amounts of ethylene, methanol, carbon monoxide and natural gas from third parties primarily for use in our production of basic chemicals in our intermediate chemistry business, principally acetic acid, VAM and formaldehyde. We use a portion of our output of these chemicals, in turn, as inputs in the production of downstream products in all of our business segments. We also purchase some of these raw materials for use in our emulsion polymers and EVA polymer businesses, primarily for vinyl acetate ethylene emulsions and ethylene vinyl acetate production, as well as significant amounts of wood pulp for use in our production of acetate tow. We also procure polymers, rubber and polypropylene for use in production of engineered materials, and other raw materials as additives to our products including fiberglass, flame retardant materials and other compounding components.
The prices and availability of many of these items is dependent on supply and logistics considerations. Prices can increase significantly as a result of uncertainties associated with inflationary pressures, transportation or logistics disruptions, weather, natural disasters, epidemics, pandemics, the effects of climate change or political instability, plant or production disruptions, war or conflicts, strikes or other labor unrest, breakdown or degradation of transportation infrastructure used in the delivery of raw materials and energy commodities, terrorist activities, civil unrest, or changes in laws or regulations in any of the countries in which we have significant suppliers. In particular, to the extent of our vertical integration in the production of chemicals, shortages in the availability of raw material chemicals, such as natural gas, ethylene and methanol, or the loss of our dedicated supplies of carbon monoxide, may have an increased adverse impact on us as it can cause a shortage in intermediate and finished products. Such shortages would adversely impact our ability to produce certain products and increase our costs resulting in reduced margins and adverse impacts to our financial results.
Like many companies, we experienced supply disruptions and increased costs of inputs in 2021 and continuing into 2022. These trends have impacted our operating costs and we have undertaken efforts to offset these costs through pricing actions, alternative supply arrangements, and hedging strategies, however, these do not eliminate all exposure to inflationary pressure. We are not always successful passing costs to customers, competitive market conditions may prevent us from doing so, and even where we are successful increased prices could lead to reduced demand for our products or could result in competitive disadvantages. We currently expect these issues to continue into 2023.
We are exposed to volatility in the prices of our raw materials and energy. Although we have long-term supply agreements, multi-year purchasing and sales agreements and forward purchase contracts providing for the supply of ethylene, methanol, carbon monoxide, wood pulp, natural gas and electricity, the contractual prices for these raw materials and energy can vary with economic conditions and may be highly volatile. In addition to the factors noted above that may impact supply or price, factors that have caused volatility in our raw material prices in the past and which may do so in the future include:
Shortages of raw materials due to increasing demand, e.g., from growing uses or new uses;
Capacity constraints, e.g., due to construction delays, labor disruption, government-imposed work or travel restrictions, involuntary shutdowns or turnarounds;
A supplier's inability to meet our delivery orders, a supplier's decision not to fulfill orders or to terminate a supply contract or our inability to obtain or renew supply contracts on favorable terms;
The general level of business, economic and industry activity; and
The direct or indirect effect of governmental regulation (including the impact of government regulation relating to power usage, climate change or regulation of production and transport of certain chemicals).
17

Table of Contents
If we are not able to fully offset the effects of higher energy and raw material costs through price increases, productivity improvements or cost reduction programs, or if such commodities become unavailable, it could have a significant adverse effect on our ability to timely and profitably manufacture and deliver our products resulting in reduced margins, lost sales and adverse impacts to our financial results.
We have a practice of maintaining, when available, multiple sources of supply for raw materials and services. However, some of our individual plants may have single sources of supply for some of their raw materials, such as carbon monoxide, steam and ethylene, or site services. Although we have been able to obtain sufficient supplies of raw materials and services, there can be no assurance that unforeseen developments will not affect our ability to source raw materials or services in the future. Even if we have multiple sources of supply for a raw material or a service, there can be no assurance that these sources can make up for the loss of a major supplier. Furthermore, if any sole source or major supplier were unable or unwilling to deliver a raw material or a service for an extended period of time, we may not be able to find an acceptable alternative or any such alternative could result in increased costs. It is also possible that profitability would be adversely affected if we were required to qualify additional sources of supply for a raw material or a service to our specifications in the event of the loss of a sole source or major supplier.
Almost all of our supply of methanol in North America is currently obtained from our Fairway joint venture with Mitsui, in which we own a 50% interest, for the production of methanol at our integrated chemical plant in Clear Lake, Texas.
Risks Related to Our Global Operations and Our Strategy
Production at our manufacturing facilities, or at our suppliers', could be disrupted for a variety of reasons, which could prevent us from producing enough of our products to maintain our sales and satisfy our customers' demands.
A disruption in production at one or more of our manufacturing facilities, or our suppliers, could have a material adverse effect on our business. Disruptions could occur for many reasons, including fire, natural disasters, severe weather, unplanned maintenance or other manufacturing problems, public health crises (including, but not limited to, the COVID-19 pandemic), disease, geopolitical events, strikes or other labor unrest, transportation interruption, government regulation, political unrest or terrorism. Alternative facilities with sufficient capacity or capabilities may not be available, may cost substantially more or may take a significant time to start production, each of which could negatively affect our business and financial performance. If one of our key manufacturing facilities is unable to produce our products for an extended period of time, our sales may be reduced by the shortfall caused by the disruption and we may not be able to meet our customers' needs, which could cause them to seek other suppliers. In particular, production disruptions at our manufacturing facilities that produce chemicals used as inputs in the production of chemicals in other business segments, such as acetic acid, VAM and formaldehyde, could have a more significant adverse effect on our business and financial performance and results of operations to the extent of such vertical integration. Furthermore, to the extent a production disruption occurs at a manufacturing facility that has been operating at or near full capacity, the resulting shortage of our product could be particularly harmful because production at such manufacturing facility may not be able to reach levels achieved prior to the disruption.
We have experienced disruptions of the type described above in recent years. In February 2021, Winter Storm Uri led to worldwide supply disruptions, loss of energy and critical raw materials at our Texas sites and impacted nearly all of our employees in Texas, where we are headquartered and where several of our manufacturing sites are located. This storm led us to proactively and temporarily shut down our Texas production facilities in a controlled manner to protect our employees, communities, and assets, and the necessity of this decision led to lost production and negatively impacted our financial results for that quarter. In August 2020, to protect our employees and safeguard the assets at our Clear Lake facility, we temporarily, voluntarily ceased production at our Clear Lake, Texas facility during the landfall of Hurricane Laura.
Disruptions or interruptions of production or operations could also occur due to accidents, interruptions in sources of raw materials, cybersecurity incidents, terrorism or political unrest, or other unforeseen events or delays in construction or operation of facilities, including as a result of geopolitical conditions, the occurrence of acts of war or terrorist incidents or as a result of weather, natural disasters, or other crises including public health crises.
Failure to develop new products and production technologies or to implement productivity and cost reduction initiatives successfully, may harm our competitive position.
Our operating results depend significantly on the development of commercially viable new products, product grades and applications, as well as improving process technologies. If we are unsuccessful in developing new products, applications and improved production processes in the future, including failing to leverage our opportunity pipeline in our Engineered Materials segment, our competitive position and operating results may be negatively affected. However, as we invest in new technology,
18

Table of Contents
we face the risk of unanticipated operational or commercialization difficulties, including an inability to obtain necessary permits or governmental approvals, the development of competing technologies, failure of facilities or processes to operate in accordance with specifications or expectations, construction delays, cost over-runs, the unavailability of financing, required materials or equipment and various other factors. Likewise, we have undertaken and are continuing to undertake initiatives in all of our business segments to improve productivity and performance and to generate cost savings. These initiatives may not be completed or beneficial or the estimated cost savings from such activities may not be realized.
We could be subject to damages based on claims brought against us by our customers or lose customers as a result of the failure of our products to meet certain quality specifications.
Our products provide important performance attributes to our customers' products. If one of our products fails to perform in a manner consistent with applicable quality specifications, a customer could seek replacement of the product or damages for costs incurred as a result of the product failing to perform as guaranteed. A successful claim or series of claims against us could have a material adverse effect on our reputation, financial condition and results of operations and could result in a loss of one or more key customers.
Our production facilities, including facilities we own and/or operate and operations at our facilities owned and/or operated by third parties, handle the processing of some volatile and hazardous materials that subject us to operating and other risks that could have a negative effect on our operating results.
Although we take precautions to enhance the safety of, and minimize the disruption to, our operations and operations at our facilities owned and/or operated by third parties, we are subject to operating and other risks associated with chemical manufacturing, including the storage and transportation of raw materials, finished products and waste. These risks include, among other things, pipeline and storage tank leaks and ruptures, explosions and fires and discharges or releases of toxic or hazardous substances. In addition, we may have limited control over operations at our facilities owned and/or operated by third parties or such operations may not be fully integrated into our safety programs.
These operating and other risks can cause personal injury, property damage, third-party damages and environmental contamination, and may result in the shutdown of affected facilities and the imposition of civil or criminal penalties. The occurrence of any of these events may disrupt production and have a negative effect on the productivity and profitability of a particular manufacturing facility, our operating results and cash flows.
Our future success depends in part on our ability to protect our intellectual property rights and our rights to use our intellectual property. Our inability to protect and enforce these rights could reduce our ability to maintain our industry position and our profit margins.
We rely on our patents, trademarks, copyrights, know-how and trade secrets, and patents and other technology licensed from third parties, to protect our investment in research and development and our competitive commercial positions in manufacturing and marketing our products. We have adopted internal policies for protecting our know-how and trade secrets. In addition, our practice is to seek patent or trade secret protection for significant developments that provide us competitive advantages and freedom to practice for our businesses. Patents may cover catalysts, processes, products, intermediate products and product uses. These patents are usually filed in strategic countries throughout the world and provide varying periods and scopes of protection based on the filing date and the type of patent application. The legal life and scope of protection provided by a patent may vary among those countries in which we seek protection. As patents expire, the catalysts, processes, products, intermediate products and product uses described and claimed in those patents generally may become available for use by the public subject to our continued protection for associated know-how and trade secrets. We also monitor intellectual property of others, especially patents that could impact our rights to commercially implement research and development, our rights to manufacture and market our products, and our rights to use know-how and trade secrets. We will not intentionally infringe upon the valid intellectual property rights of others, and we will continue to assess and take actions as necessary to protect our positions. We also seek to register trademarks as a means of protecting the brand names of our products, which brand names become more important once the corresponding product or process patents have expired. We operate in regions of the world where intellectual property protection may be limited and difficult to enforce and our continued growth strategy may result in us seeking intellectual property protection in additional regions with similar challenges. We also monitor the trademarks of others and take action when our trademark rights are being infringed upon. If we are not successful in protecting or maintaining our patent, license, trademark or other intellectual property rights, or protecting our rights to commercially make, market and sell our products, our net sales, results of operations and cash flows may be adversely affected.
19

Table of Contents
Our business is exposed to risks associated with the creditworthiness of our suppliers, customers and business partners and the industries in which our suppliers, customers and business partners participate are cyclical in nature, both of which may adversely affect our business and results of operations.
Our business is exposed to risks associated with the creditworthiness of our key suppliers, customers and business partners and reductions in demand for our customers' products. These risks include the interruption of production at the facilities of our customers, the reduction, delay or cancellation of customer orders, delays in or the inability of customers to obtain financing to purchase our products, delays in or interruptions of the supply of raw materials we purchase and bankruptcy of customers, suppliers or other creditors. Furthermore, some of the industries in which our end-use customers participate, such as the automotive, electrical, construction and textile industries, are highly competitive, to a large extent driven by end-use applications, and may experience overcapacity, all of which may affect demand for and the pricing of our products. In addition, many of these industries are highly cyclical in nature, thus posing risks to us that vary throughout the year and vary according to macroeconomic factors. The occurrence of any of these events may adversely affect our cash flow, profitability and financial condition.
We may incur significant charges in the event we close or divest all or part of a manufacturing plant or facility.
We periodically assess our manufacturing operations in order to manufacture and distribute our products in the most efficient manner. Based on our assessments, we may make capital improvements to modernize certain units, move manufacturing or distribution capabilities from one plant or facility to another plant or facility, discontinue manufacturing or distributing certain products or close or divest all or part of a manufacturing plant or facility. We also have shared services agreements at several of our plants and if such agreements are terminated or revised, we would assess and potentially adjust our manufacturing operations. The closure or divestiture of all or part of a manufacturing plant or facility could result in future charges that could be significant. See Note 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial statements for further information.
The insurance coverage that we maintain may not fully cover all operational risks.
We maintain property, business interruption, casualty and cyber/information security insurance but such insurance may not cover all of the risks associated with the hazards of our business and is subject to limitations, including deductibles and maximum liabilities covered. We may incur losses beyond the limits, or outside the coverage, of our insurance policies, including liabilities for environmental remediation. In the future, the types of insurance we obtain and the level of coverage we maintain may be inadequate or we may be unable to continue to maintain our existing insurance or obtain comparable insurance at a reasonable cost.
Risks associated with our joint ventures, including differences in views with our joint venture partners may cause them not to operate according to their business plans, which may adversely affect our results of operations.
We currently participate in a number of joint ventures, acquired interests in several additional joint ventures through the M&M Acquisition and may enter into additional joint ventures in the future. Our joint ventures require us to work cooperatively with unaffiliated third parties. Differences in views among joint venture participants may result in delayed decisions or failure to agree on major decisions. Additionally, our partners may be unable or unwilling to meet their economic or other obligations to the joint ventures, which could negatively impact them. If these risks cause the joint ventures to fail to achieve their desired operating performance, our results of operations could be adversely affected.
Our significant non-U.S. operations expose us to global exchange rate fluctuations that could adversely impact our profitability.
We conduct a significant portion of our operations outside the U.S. Consequently, fluctuations in currencies of other countries, especially the euro, may materially affect our operating results. Because our consolidated financial statements are presented in U.S. dollars, we must translate revenues, income and expenses, as well as assets and liabilities, into U.S. dollars based on average exchange rates prevailing during the reporting period or the exchange rate at the end of that period. Therefore, increases or decreases in the value of the U.S. dollar against other major currencies will affect our net operating revenues, operating income and the cost of balance sheet items denominated in foreign currencies. Foreign exchange rates can also impact the competitiveness of products produced in certain jurisdictions and exported for sale into other jurisdictions. These changes may impact the value received for the sale of our goods versus those of our competitors.
In addition to currency translation risks, we incur a currency transaction risk whenever one of our operating subsidiaries enters into a purchase or sales transaction using a currency different from the operating subsidiary's functional currency. Given the
20

Table of Contents
volatility of exchange rates, particularly the strengthening of the U.S. dollar against major currencies or the currencies of large developing countries, we may not be able to manage our currency transaction and translation risks effectively.
We use financial instruments to hedge certain exposure to foreign currency fluctuations, but those hedges in most cases cover existing balance sheet exposures and not future transactional exposures. We cannot guarantee that our hedging strategies will be effective. In addition, the use of financial instruments creates counterparty settlement risk. Failure to effectively manage these risks could have an adverse impact on our financial position, results of operations and cash flows.
We are subject to information or operational technology cybersecurity threats that could materially affect our business.
We have been and will continue to be subject to advanced and persistent threats in the areas of information and operational technology security and fraud. We seek to prevent unauthorized access to our information and operational technology systems and to detect and investigate any cybersecurity incidents that may occur, however in some cases we might be unaware of a particular incident or its magnitude and effects. We may face increased information technology security and fraud risks due to our increased reliance on working remotely during and following the COVID-19 pandemic, which may create additional information security vulnerabilities and/or magnify the impact of any disruption in information technology systems. Additionally, we may be exposed to unauthorized access to our information or operational technology systems through undetected vulnerabilities in our service providers' information systems or software. These risks may be heightened as a result of our efforts to integrate the M&M Business's technology environment with our own.
The theft, misuse or publication of our intellectual property and/or confidential business information or the compromising of our systems or networks (including through ransomware or denial-of-service attacks) could harm our competitive position, cause operational disruption (including the potential to disrupt or compromise our control of physical plant operations at our manufacturing sites), reduce the value of our investment in research and development of new products and other strategic initiatives or otherwise adversely affect our business or results of operations. To the extent that any security breach impacts operations at our manufacturing sites, we may experience production or shipping disruptions. To the extent that any security breach results in inappropriate disclosure of our employees', customers' or vendors' confidential or personally identifiable information, we may incur liability or suffer reputational damage in the marketplace as a result. We maintain cyber/information security insurance, but any losses may be beyond the limits, or outside the coverage, of our policy.
Information and operational security threats and methods of perpetrating fraud or misappropriating information are constantly evolving and becoming more complex, which increases the difficulty and expense of defending against these threats. Although we attempt to mitigate these risks by employing a number of measures, including insurance, monitoring of our systems and networks, employee training, crisis simulations and maintenance of backup and protective systems, our systems, networks, products and services remain potentially vulnerable to increasingly sophisticated advanced persistent threats that may have a material effect on our business. In addition, the devotion of additional resources to the security of our information or operational technology systems in the future could significantly increase the cost of doing business or otherwise adversely impact our financial results.
Risks Relating to the acquisition of the majority of the Mobility & Materials business (the "M&M Acquisition" and such business being acquired, the "M&M Business") of DuPont de Nemours, Inc. ("DuPont")
We made certain assumptions relating to the M&M Acquisition which may prove to be materially inaccurate and we may fail to realize all of the anticipated benefits of the acquisition.
We made certain assumptions relating to the M&M Acquisition, which may prove to be inaccurate. Expectations of future results may not materialize and we face risk of unanticipated or unknown issues or liabilities. Our mitigation strategies for such risks that are identified may be ineffective. We face risks and uncertainties regarding:
performance of the M&M Business in future economic and business conditions;
the process of integrating the M&M Business with ours, which may encounter unanticipated delays, costs or inefficiencies;
the amount and timing of potential benefits and synergies;
the amount of attention and resources needed to successfully align our and the M&M Business's practices and operations including integrating commercial activities and technologies, retaining key personnel and aligning business cultures;
21

Table of Contents
potential commercial, macroeconomic and financial risks associated with our broader international business footprint; and
other financial and strategic risks of the M&M Acquisition.
We cannot guarantee that we will achieve our goals or meet our expectations with respect to the M&M Acquisition. Through 2022, the M&M Business underperformed prior expectations, in particular its financial performance from signing through the closing was lower than anticipated. We cannot be certain when we will be able to realize improvements in the underlying M&M Business performance and as we proceed with integration, we may identify additional risks and challenges. The benefits of the M&M Acquisition, including the anticipated financial benefits and the synergies and growth opportunities, may not be realized as expected or may not be achieved within the anticipated timeframe, or at all. If our assumptions are inaccurate or we are unable to meet our expectations (including our expectations regarding financial targets), our business, financial performance and operating results could be materially and adversely affected.
We will incur direct and indirect costs as a result of the M&M Acquisition.
We have incurred and expect to continue to incur a number of non-recurring costs associated with completing the M&M Acquisition, combining the operations of our business and the M&M Business and achieving desired synergies. These fees and costs have been, and will continue to be, substantial. Non-recurring expenses include, among others, employee retention costs, fees paid to financial, legal, integration and accounting advisors, severance and benefit costs. We will also incur transaction fees and costs related to formulating and implementing integration plans, including facilities and systems consolidation costs and employment-related costs. We will continue to assess the magnitude of these costs, and additional unanticipated costs may be incurred in the M&M Acquisition and the integration of the M&M Business into our business. Although we expect that the elimination of duplicative costs, as well as the realization of other efficiencies related to the integration of the M&M Business, should allow us to offset integration-related costs over time, this net benefit may not be achieved in the near term, or at all. Factors beyond our control could affect the total amount or timing of these expenses, many of which, by their nature, are difficult to estimate accurately.
The risk of non-compliance with non-U.S. laws, regulations and policies could adversely affect our results of operations, financial condition or strategic objectives.
The M&M Acquisition introduces us into a number of new geographic markets, subjecting us to additional non-U.S. laws, regulations and policies which do not currently apply to us, and will increase our exposure to certain other geographic markets as well as their laws and regulations. These laws and regulations are complex, change frequently, have become more stringent over time, could increase our cost of doing business, and could result in conflicting legal requirements. Therefore, the M&M Acquisition may increase our exposure to the risks described below under "Regulatory, Legal, Environmental and Tax Risks."
Regulatory, Legal, Environmental and Tax Risks
Failure to comply with applicable laws or regulations and/or changes in applicable laws or regulations may adversely affect our business and financial results as a whole.
We are subject to extensive international, national, state, local and other laws and regulations. Failure to comply with these laws, including antitrust, anticorruption and sanctions laws, rules, regulations or court decisions, could expose us to fines, penalties and other costs. For example, in December 2019 we announced the recording of a reserve in connection with a competition law investigation by the European Commission based on certain past ethylene purchases by certain subsidiaries of the Company, and in July 2020, we announced that we had reached a final settlement of $92 million with respect to this investigation. The Company paid this settlement in full on January 12, 2021. Although we have implemented policies, procedures and employee training designed to ensure compliance with these laws, rules, regulations and court decisions, there can be no assurance that our employees and business partners and other third parties acting on our behalf will comply with these laws, rules, regulations and court decisions, which could result in fines, penalties and costs and damage to our business reputation.
Moreover, changes in laws or regulations, including the more aggressive enforcement of such laws and regulations, such as unexpected changes in regulatory requirements (including trade compliance requirements), or changes in reporting requirements of the U.S., Canadian, Mexican, German, EU or Asian governmental agencies, could increase the cost of doing business in these regions. In addition, enforcement of environmental or other governmental policy may result in plant shut downs or significantly decreased production, such as in China on high pollution days. For example, in 2021 we experienced energy curtailment mandates from the government in the Chinese province where our Nanjing production facility is located,
22

Table of Contents
which forced us to reduce and curtail production at that site. Any of these types of conditions, including the failure to obtain or maintain operating permits for our business, may have an effect on our business and financial results as a whole and may result in volatile current and future prices for our products and raw materials. See Note 19 - Commitments and Contingencies in the accompanying consolidated financial statements for further information.
Our business exposes us to potential product liability, warranty, and tort claims, and recalls, which could adversely affect our financial condition and performance.
The development, manufacture and sale of specialty chemical products by us, including products produced for the food and beverage, medical device, pharmaceutical, automobile, construction, appliance, cigarette and aerospace end markets, involves a risk of exposure to product liability, warranty, and tort claims, product recalls, product seizures and related adverse publicity. A product liability, warranty, or tort claim or judgment against us that is larger than those typically experienced in the regular course of business could also result in substantial and unexpected expenditures, affect consumer or customer confidence in our products, and divert management's attention from other responsibilities. Although we maintain product liability insurance, there can be no assurance that this type or the level of coverage is adequate or that we will be able to continue to maintain our existing insurance or obtain comparable insurance at a reasonable cost, if at all. A product recall or a significant partially or completely uninsured judgment against us could have a material adverse effect on our results of operations or financial condition. Although we have standard contracting policies and controls, we may not always be able to contractually limit our exposure to third party claims should our failure to perform result in downstream supply disruptions or product recalls.
Environmental regulations and other obligations relating to environmental matters could subject us to liability for fines, clean-ups and other damages, require us to incur significant costs to modify our operations and increase our manufacturing and delivery costs.
Costs related to our compliance with environmental, health and safety laws and regulations, and potential obligations with respect to sites currently or formerly owned or operated by us, may have a negative impact on our operating results. We also have obligations related to the indemnity agreement contained in the demerger and transfer agreement between Celanese GmbH and Hoechst AG for environmental matters arising out of certain divestitures that took place prior to the demerger. See Note 13 - Environmental in the accompanying consolidated financial statements for further information.
Our operations are subject to extensive international, national, state, local and other laws and regulations that govern environmental, health and safety matters and that regulate the handling, manufacture, use, emission and disposal of products, materials and hazardous and non-hazardous waste. If we violate any one of those laws or regulations, we can be held liable for substantial fines and other sanctions, including limitations on our operations as a result of changes to or revocations of environmental permits involved. We could also face claims for damages from individuals or groups for alleged violations of these laws or regulations.
We also incur substantial capital and other costs to comply with environmental, health and safety requirements. Stricter environmental, safety and health laws and regulations could result in substantial additional costs and liabilities to us or limitations on our operations. Consequently, compliance with these laws and regulations may negatively affect our earnings and cash flows in a particular reporting period. See Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources for further information.
For more information on risks we face specifically related to climate change and related potential regulation, see the risk factor titled "We are subject to financial, regulatory, physical and transition risks associated with climate change or other sustainability matters as well as potential legislation, regulation and international accords to address climate change and other sustainability matters" below.
Changes in environmental, health and safety regulations in the jurisdictions where we manufacture or sell our products could lead to a decrease in demand for our products.
New or revised governmental regulations, independent studies or consumer or societal perceptions relating to the effect of our products on health, safety or the environment may affect demand for our products and the cost of producing our products. In addition, products we produce, including VAM, formaldehyde and polymers derived from formaldehyde, may be classified and labeled in a manner that would adversely affect demand for such products. For example, in 2019 the EPA designated formaldehyde as a high-priority substance under the Toxic Substances Control Act and the substance is currently undergoing risk evaluation. In addition, in 2012 the International Agency for Research on Cancer ("IARC"), a research agency within the World Health Organization, classified formaldehyde as carcinogenic to humans (Group 1) based on epidemiological studies linking formaldehyde exposure to nasopharyngeal cancer, a rare cancer in humans, and leukemia. In 2011, a similar conclusion
23

Table of Contents
was reached by the National Toxicology Program ("NTP"), a U.S. inter-agency research program. We anticipate that the results of the IARC's and the NTP's reviews will continue to be examined and considered by government regulatory agencies with responsibility for setting worker and environmental exposure standards and labeling requirements.
Other initiatives, including the Chemical Strategy for Sustainability initiative currently to be undertaken by the EU as part of the Green Deal will potentially require, or increase existing requirements for, toxicological testing and risk assessments of a wide variety of chemicals, including chemicals used or produced by us. These assessments may result in heightened concerns about the chemicals involved and additional regulatory requirements being placed on the production, handling, labeling and/or use of the subject chemicals. The new requirements may necessitate reformulation of products in order to meet customers' demands, which would be a financially burdensome process.
Such concerns and additional requirements could also increase the cost incurred by our customers to use our chemical products and otherwise limit the use of these products, which could lead to a decrease in demand for these products. Such a decrease in demand would likely have an adverse impact on our business and results of operations.
We are subject to financial, regulatory, physical and transition risks associated with climate change or other sustainability matters as well as potential legislation, regulation and international accords to address climate change and other sustainability matters.
Greenhouse gas ("GHG") emissions have become the subject of significant international, national, regional, state and local attention. For example, the EPA and SEC have promulgated or proposed extensive rules concerning reporting of GHG emissions. The European Commission has also embarked on the European Green Deal initiative with the goal of making the EU carbon neutral by 2050, which is leading to additional statutory and regulatory requirements. In addition, regulation of greenhouse gas also could occur pursuant to future treaty obligations, statutory or regulatory changes or new climate change legislation intended to reduce or mitigate the effects of GHG emissions. Compliance with such legislation, regulation and accords and the associated potential cost is complicated by the fact that various countries and regions are following different approaches and standards to the regulation of climate change.
A number of our operations are within jurisdictions that have or are developing regulatory regimes governing GHG emissions, which may lead to direct and indirect costs on our operations. Some jurisdictions have emissions reduction measures directed at the power or oil and gas sectors, which could result in higher power input costs or reduced energy availability for us. Other regulations that are being implemented or contemplated include the potential for restrictions on GHG emissions, cap and trade emissions trading systems, taxes on GHG emissions, fuel, and energy, or carbon import charges on certain products among other provisions. These may exist in addition to country and corporate-level net-zero GHG emissions pledges. These measures, if and where enacted, may significantly increase our costs of operations or require us to incur significant additional capital costs for the installation of equipment to mitigate GHG emissions for our sites' manufacturing operations.
Physical impacts of climate change, such as increased frequency and severity of hurricanes and floods and impact on sea levels, may also impact our facilities and operations and those of our key suppliers. A number of our sites are located in areas that are exposed to weather events and changing sea levels (such as the Texas Gulf Coast) and that have been impacted by hurricanes and other weather events in the past as described elsewhere in these risk factors. To the extent climate change exacerbates these threats, our operations and supply chains could experience increased levels of disruptions and added costs.
Additionally, increased social, legislative and regulatory focus on climate change and other sustainability matters as well as customer demand for responsibly manufactured products could lead to changes in the behavior of our customers or their end-customers, and could result in reduced customer demand for products made from materials that are perceived to be significant contributors to greenhouse gas emissions and global climate change. We may fail to accurately react to these trends and refine our product offerings through innovation, or we may not be able to fully address these concerns through changes in manufacturing methods or use of more sustainable materials and processes, which could result in reduced demand for our products.
We closely monitor developments in this area, but there is significant uncertainty regarding what legislative or regulatory requirements may be put in place, which makes it impossible for us to predict the longer-term impact these measures have on our operations. However, we believe that future legislative and regulatory developments related to climate change are likely, which could materially increase operating costs in the chemical industry and thereby increase our manufacturing and delivery costs.
24

Table of Contents
Our aspirations, goals, and initiatives related to sustainability, and our public statements and disclosures regarding them, expose us to risks.
We have developed and publicized, and expect to continue to establish, goals, targets, and other objectives related to sustainability matters. These include a GHG intensity reduction target and other environmental targets. Such statements reflect our current plans at the time they are made, and do not constitute a guarantee that they will be achieved. Our ability to track and meet these goals depends on future innovations and technology and the availability of accurate reporting methods. Our efforts to research, establish, accomplish, and accurately report on these goals, targets, and objectives could expose us to operational, reputational, financial, legal, and other risks. Our ability to achieve any stated goal, target, or objective is and will be subject to numerous factors and conditions, many of which are outside of our control, such as evolving regulatory or quasi-regulatory sustainability standards, the ability of suppliers to meet our sustainability and other standards, differing requirements and the pace of changes in technology.
We may face increased scrutiny from the investment community, other stakeholders, regulators, and the media related to our sustainability activities, including the goals, targets, and objectives that we announce, and our methodologies and timelines for pursuing them. If our sustainability practices do not meet investor or other stakeholder expectations and standards, which continue to evolve, our reputation, ability to attract or retain employees, and attractiveness as an investment, business partner, or as an acquirer could be negatively impacted, which could in turn adversely impact our business and results of operations. Similarly, our failure or perceived failure to pursue or fulfill our goals, targets, and objectives, to comply with ethical, environmental, or other standards, regulations, or expectations, or to satisfy various reporting standards with respect to these matters, within the timelines that we announce, or at all, could have the same negative impacts, as well as expose us to government enforcement actions and private litigation. Even if we achieve the goals, targets, and objectives we set, we may not realize all of the benefits that it expected at the time they were established.
Our business and financial results may be adversely affected by various legal and regulatory proceedings.
We are involved in legal and regulatory proceedings, lawsuits, claims and investigations in the normal course of business and could become subject to additional claims in the future, some of which could be material. The outcome of existing proceedings, lawsuits, claims and investigations may differ from our expectations because the outcomes of such proceedings, including regulatory matters, are often difficult to reliably predict. Various factors or developments can lead us to change current estimates of liabilities and related insurance receivables where applicable, or permit us to make such estimates for matters previously not susceptible to reasonable estimates, such as a significant judicial ruling or judgment, a significant settlement, significant regulatory developments, or changes in applicable law. A future adverse ruling, settlement, or unfavorable development could result in charges that could have a material adverse effect on our business, results of operations or financial condition in any particular period. See Note 13 - Environmental and Note 19 - Commitments and Contingencies in the accompanying consolidated financial statements for further information.
Changes in, or the interpretation of, tax legislation or rates throughout the world, or the resolution of tax examinations or audits, could materially impact our results.
Our future effective tax rate and related tax balance sheet attributes could be impacted by changes in tax legislation throughout the world. The overall tax environment has made it increasingly challenging for multinational corporations to operate with certainty about taxation in many jurisdictions. For example, the European Commission has been conducting investigations focusing on whether local country tax rulings or tax legislation provide preferential tax treatment that violates EU state aid rules.
Furthermore, a number of countries where we do business, including the U.S. and many countries in the EU, have changed or are considering changes in relevant tax, accounting and other laws, regulations and interpretations, including changes to tax laws applicable to multinational corporations. Our future effective tax rates could be affected by changes in the mix of earnings in countries with differing statutory tax rates, expirations of tax holidays or rulings, changes in the assessment regarding the realization of deferred tax assets, or changes in tax laws and regulations or their interpretation. The increasingly complex global tax environment and related legislative developments could have a material adverse effect on our effective tax rate, results of operations, cash flows and financial condition.
25

Table of Contents
For example, the Organization of Economic Cooperation and Development (the "OECD"), which represents a coalition of member countries, is supporting changes to numerous long-standing tax principles through its base erosion and profit shifting initiatives, which focus on a number of issues, including (i) the shifting of profits among affiliated entities located in different tax jurisdictions and (ii) a global minimum tax of at least 15% of adjusted financial statement income, applied on a country by country basis, applicable to multinational groups with annual adjusted financial statement income in excess of $1.0 billion. The adoption of such changes is contingent upon the independent actions of participating countries to enact implementing domestic legislation.
Furthermore, in August 2022, the Inflation Reduction Act of 2022 ("IRA") was enacted in the U.S. The IRA created a new book minimum tax of at least 15% of consolidated GAAP pre-tax income for corporations with three-year average annual book income in excess of $1.0 billion. The IRA also created an excise tax of 1% of the value of any stock repurchased by us after December 31, 2022.
We are subject to the regular examination of our income tax returns by various tax authorities. Examinations in material jurisdictions or changes in laws, rules, regulations or interpretations by local taxing authorities could result in impacts to tax years open under statute or to foreign operating structures currently in place.
Our tax returns are under audit for the years 2013 through 2015 by the United States, the Netherlands and Germany. These authorities have proposed adjustments to transfer pricing and the reallocation of income between the related jurisdictions to open tax years through 2019. While we have reached resolution with the Netherlands, we are currently continuing with the other taxing authorities and are evaluating all potential remedies. We are currently evaluating these proposals and all potential remedies. If this matter is resolved in a manner inconsistent with our expectations or we are unsuccessful in defending our position, our financial condition and operating results could be adversely impacted.
We cannot predict with certainty the outcome of tax examinations or audits. We regularly assess the likelihood of adverse outcomes resulting from these examinations or changes in laws, rules, regulations or interpretations to determine the adequacy of our provision for taxes. It is possible the outcomes from these examinations will have a material adverse effect on our financial condition and operating results in future periods.
Risks Related to Our Human Capital
Our success depends upon our ability to attract and retain key employees and the identification and development of talent to succeed senior management.
Our success depends on our ability to attract and retain key personnel including our management team. The inability to recruit and retain talented employees or the unexpected loss of such talented employees or key personnel may adversely affect our operations. Like many companies, we have experienced in the last couple of years and continue to experience an increasingly competitive hiring environment for skilled employees at our manufacturing and other sites, which in some cases has increased, or may in the future increase, the cost of retaining or hiring talented employees, particularly in technical manufacturing roles critical to our success.
In addition, we rely on our senior management team specifically, therefore our future success depends in part on our ability to retain those members of senior management and to identify and develop talent to succeed senior management. The hiring and retention of key personnel and appropriate senior management succession planning will continue to be important to the successful implementation of our strategies.
Significant changes in pension fund investment performance or assumptions relating to pension costs may have a material effect on the valuation of pension obligations, the funded status of pension plans and our pension cost.
The cost of our pension plans is incurred over long periods of time and involves many uncertainties during those periods of time. Our funding policy for pension plans is to accumulate plan assets that, over the long run, will approximate the present value of projected benefit obligations. Our pension cost is materially affected by the discount rate used to measure pension obligations, the level and value of plan assets available to fund those obligations at the measurement date and the expected long-term rate of return on plan assets. Significant changes in investment performance or a change in the portfolio mix of invested assets will likely result in corresponding increases and decreases in the valuation of plan assets and a change in the discount rate or mortality assumptions, which will likely result in an increase or decrease in the valuation of pension obligations. The combined impact of these changes will affect the reported funded status of our pension plans as well as the net periodic pension cost in the following fiscal years. In recent years, an extended duration strategy in the asset portfolio has been implemented in some plans to reduce the influence of liability volatility due to changes in interest rates. If the funded status of a
26

Table of Contents
pension plan declines, we may be required to make unscheduled contributions in addition to those contributions for which we have already planned. See Note 12 - Benefit Obligations in the accompanying consolidated financial statements for further information.
Some of our employees are unionized, represented by workers councils or are subject to local laws that are less favorable to employers than the laws of the U.S.
As of December 31, 2022, we had 13,263 employees globally. Approximately 11% of our 4,722 U.S.-based employees are unionized. In addition, a large number of our employees are employed in countries in which employment laws provide greater bargaining or other employment rights than the laws of the U.S. Such employment rights require us to work collaboratively with the legal representatives of the employees to effect any changes to labor agreements. Most of our employees in Europe are represented by workers councils and/or unions that must approve any changes in terms and conditions of employment, including potentially salaries and benefits. They may also impede efforts to restructure our workforce. Although we believe we have a good working relationship with our employees and their legal representatives, a strike, work stoppage, or slowdown by our employees could occur, resulting in a disruption of our operations or higher ongoing labor costs.
Risks Related to Our Indebtedness
Financing the M&M Acquisition significantly increased our indebtedness and interest expense, which could adversely affect us, decrease our business flexibility, diminish our ability to raise additional capital to fund our operations or refinance our existing indebtedness when it matures and limit our ability to react to changes in the economy or the chemicals industry.
See Note 11 - Debt in the accompanying consolidated financial statements for further information about our indebtedness. See Note 12 - Benefit Obligations, Note 13 - Environmental and Note 19 - Commitments and Contingencies in the accompanying consolidated financial statements for further information about our other obligations.
We incurred approximately $11.0 billion of indebtedness to finance the M&M Acquisition, bringing our total outstanding indebtedness to $14.7 billion at December 31, 2022, compared to $4.0 billion at December 31, 2021. Also, the amount of cash required to pay interest on our increased indebtedness, and thus the demands on our cash resources, has significantly increased as a result of the indebtedness to finance the M&M Acquisition.
We intend to allocate capital to repay and reduce our outstanding debt using cash from operations and potentially proceeds from asset sales or dispositions if we are able to do so on favorable terms. Our ability to reduce our level of indebtedness over time in line with our strategic goals depends on a number of factors including our business performance, macroeconomic and industry conditions, commercial and financing market conditions, and other factors described in these risk factors, and our inability to achieve these objectives could delay or alter our deleveraging plan, or could negatively impact the trading prices of our securities or our credit ratings.
Our higher level of indebtedness and other liabilities could have other important consequences, including:
Increasing our vulnerability to general economic and industry conditions, including exacerbating the impact of any adverse business effects that could impact our ability to repay amounts due under existing senior credit agreements (the "Credit Agreements") or our indentures (the "Indentures") governing our outstanding senior unsecured notes (collectively, the "Senior Notes");
Requiring a substantial portion of cash flow from operations to be dedicated to the payment of principal and interest on indebtedness and amounts payable in connection with the satisfaction of our other liabilities, therefore reducing our ability to use our cash flow to fund operations, capital expenditures and future business opportunities or pay dividends on our common stock, par value $0.0001 per share ("Common Stock");
Reducing our flexibility to respond to changing business and economic conditions;
Exposing us to the risk of increased interest rates as certain of our borrowings are at variable rates of interest;
Exposing us to the risk of changes in currency exchange rates as certain of our borrowings are denominated in foreign currencies; and
Limiting our ability to obtain additional financing for working capital, capital expenditures, product development, debt service requirements, acquisitions and general corporate or other purposes.
27

Table of Contents
We may not be able to generate sufficient cash to service our indebtedness and may be forced to take other actions to satisfy obligations under our indebtedness, which may not be successful.
If our cash flows and capital resources are insufficient to fund our debt obligations, we may be forced to reduce or delay capital expenditures, sell assets on unfavorable terms, seek additional capital or restructure or refinance our indebtedness. These alternative measures may not be successful and may not permit us to meet our scheduled debt service and other obligations. In the absence of such operating results and resources, we could face substantial liquidity problems and might be required to dispose of material assets or operations to meet our debt service and other obligations. We may not be able to complete those dispositions or to obtain the proceeds that we could realize from them, and these proceeds may not be adequate to meet any debt service obligations then due.
Restrictive covenants in our debt agreements may limit our ability to engage in certain transactions and may diminish our ability to make payments on our indebtedness or pay dividends.
The Credit Agreements, the Indentures and the Receivables Purchase Agreement governing our receivables securitization facility each contain various covenants that limit our ability to engage in specified types of transactions. The Credit Agreements and the Indentures contain covenants including, but not limited to, restrictions on our and certain of our subsidiaries' ability to incur additional debt; incur liens securing debt; merge or consolidate with any other person; and sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the Issuer's assets or the assets of certain subsidiaries. Additionally, the Credit Agreements require the maintenance of certain financial ratios.
Such restrictions in our debt obligations could result in us having to obtain the consent of our lenders and holders of the Senior Notes in order to take certain actions. Disruptions in credit markets may prevent us from obtaining or make it more difficult or more costly for us to obtain such consents. Our ability to expand our business or to address declines in our business may be limited if we are unable to obtain such consents.
A breach of any of these covenants could result in a default, which, if not cured or waived, could have a material adverse effect on our business, financial condition and results of operations. Furthermore, a default under any of the Credit Agreements could permit lenders to accelerate the maturity of our indebtedness under such Credit Agreement and to terminate any commitments to lend. If the lenders under any Credit Agreement accelerate the repayment of such indebtedness, we may not have sufficient liquidity to repay such amounts or our other indebtedness, including the Senior Notes. In such event, we could be forced into bankruptcy or liquidation.
Celanese and Celanese U.S. are holding companies and depend on subsidiaries to satisfy their obligations under the Senior Notes and the guarantee of Celanese U.S.'s obligations under the Senior Notes and the Credit Agreements by Celanese.
As holding companies, Celanese and Celanese U.S. conduct substantially all of their operations through their subsidiaries, which own substantially all of our consolidated assets. Consequently, the principal source of cash to pay Celanese and Celanese U.S.'s obligations, including obligations under the Senior Notes and the guarantee of Celanese U.S.'s obligations under the Credit Agreements and the Indentures by Celanese, is the cash that our subsidiaries generate from their operations. We cannot assure that our subsidiaries will be able to, or be permitted to, make distributions to enable Celanese U.S. and/or Celanese to make payments in respect of their obligations. Each of our subsidiaries is a distinct legal entity and, under certain circumstances, applicable country or state laws, regulatory limitations and terms of our debt instruments may limit our subsidiaries' ability to distribute cash to Celanese U.S. and Celanese. In the event Celanese U.S. and/or Celanese do not receive distributions from our subsidiaries, Celanese U.S. and/or Celanese may be unable to make required payments on the indebtedness under the Credit Agreements, the Indentures, the guarantee of Celanese U.S.'s obligations under the Credit Agreements and the Indentures by Celanese, or our other indebtedness.
Item 1B.  Unresolved Staff Comments
None.
28

Table of Contents
Item 2.  Properties
Description of Property
Our corporate headquarters is located in Irving, Texas and we also have administrative offices in Amsterdam, Netherlands; Asturias, Spain; Budapest, Hungary; Hyderabad, India; Kunshan, China; Mexico City, Mexico; Nanjing, China; Shanghai, China; and Sulzbach, Germany. We own or lease numerous production and manufacturing facilities throughout the world. We also own or lease other properties, including office buildings, warehouses, pipelines, research and development facilities and sales offices. We continuously review and evaluate our facilities as a part of our strategy to optimize our business portfolio. The following table sets forth our principal production and other facilities throughout the world as of December 31, 2022. These facilities are well-maintained, in good operating condition, are suitable and adequate for their use and have sufficient capacity for our current needs and expected near-term growth.
Geographic Region
Engineered Materials(1)
Acetyl Chain(1)
Corporate
LeasedOwnedLeasedOwnedLeased
North America11 
Europe and Africa
Asia-Pacific— 
South America— — — 
Total24 23 12 10 
______________________________
(1)Certain geographic locations may contain sites used by multiple segments.
We have also entered into strategic ventures with partners in various locations around the world. See Item 1. Business for a discussion of our investments in affiliates and their respective site locations.
Item 3.  Legal Proceedings
The Company is involved in legal and regulatory proceedings, lawsuits, claims and investigations incidental to the normal conduct of its business, relating to such matters as product liability, land disputes, insurance coverage disputes, contracts, employment, antitrust and competition, intellectual property, personal injury and other actions in tort, workers' compensation, chemical exposure, asbestos exposure, taxes, trade compliance, acquisitions and divestitures, claims of legacy shareholders, past waste disposal practices and release of chemicals into the environment. The Company is actively defending those matters where it is named as a defendant. Due to the inherent subjectivity of assessments and unpredictability of outcomes of legal proceedings, the Company's litigation accruals and estimates of possible loss or range of possible loss may not represent the ultimate loss to the Company from legal proceedings. See Note 13 - Environmental and Note 19 - Commitments and Contingencies in the accompanying consolidated financial statements for a discussion of material environmental matters and material commitments and contingencies related to legal and regulatory proceedings. See Item 1A. Risk Factors for certain risk factors relating to these legal proceedings.
29

Table of Contents
Item 4.  Mine Safety Disclosures
Not applicable.
Information about our Executive Officers
The names, ages and biographies of our executive officers as of February 24, 2023 are as follows:
NameAgePosition
Lori J. Ryerkerk60 Chair of the Board of Directors, Chief Executive Officer and President
Scott A. Richardson46 Executive Vice President and Chief Financial Officer
Thomas F. Kelly57 Senior Vice President, Engineered Materials
Mark C. Murray52 Senior Vice President, Acetyls
A. Lynne Puckett60 Senior Vice President and General Counsel
Lori J. Ryerkerk was named our Chief Executive Officer and President and a member of our board of directors effective May 2019. In April 2020, she was named Chair of the Board. Previously, Ms. Ryerkerk was the Executive Vice President of Global Manufacturing, the largest business in Shell Downstream Inc., where she led a team of 30,000 employees and contractors at refineries and chemical sites worldwide. Ms. Ryerkerk joined Shell in May 2010 as the Regional Vice President of Manufacturing in Europe and Africa, and was responsible for the operation of five Shell manufacturing facilities and five joint ventures. In October 2013, she was named Executive Vice President of Global Manufacturing, Shell Downstream Inc. Before joining Shell, she was Senior Vice President, Refining, Supply and Terminals at Hess Corporation, where she was responsible for refineries, terminals and a distribution network, and supply and trading. Prior to that, Ms. Ryerkerk spent 24 years with ExxonMobil where she started her career as a process technologist at a refinery in Baton Rouge, Louisiana. Throughout her tenure at ExxonMobil, she took on a variety of operational and senior leadership roles in Refining and Chemicals Manufacturing, Power Generation, and various other groups including Supply, Economics and Planning, HSSE and Public Affairs/Government Relations. Ms. Ryerkerk received a Chemical Engineering degree from Iowa State University. She serves on the board of Eaton Corporation plc, a diversified power management company, and previously served on the board of directors of Axalta Coating Systems, a leading provider of liquid and powder coatings.
Scott A. Richardson was named Chief Financial Officer for Celanese Corporation in February 2018 after serving as Senior Vice President of the Engineered Materials business since December 2015, where he had global responsibility for strategy, product and business management, planning and portfolio development, and pipeline management. He was promoted to Executive Vice President in March 2020. Previously, Mr. Richardson served as Vice President and General Manager of the Acetyl Chain since 2011. Mr. Richardson has progressed through several Celanese roles including global commercial director, Acetyls; manager of Investor Relations; business analysis manager, Acetyls; and business line controller, Polyols and Solvents. He joined Celanese in 2005. Prior to joining Celanese, Mr. Richardson held various finance, operational and leadership roles at American Airlines. He earned a Bachelor of Arts in Accounting from Westminster College and a Master of Business Administration from Texas Christian University.
Thomas F. Kelly was named Senior Vice President, Engineered Materials in April 2020, leading the Engineered Materials business with global responsibility for product and business management, planning and portfolio development, and pipeline management. He had previously served as Vice President of Engineered Materials with Celanese since January 2019. He re-joined Celanese in January 2019 after serving with Cabot Microelectronics (now CMC Materials), a global supplier of consumable materials to semiconductor manufacturers and pipeline companies, from September 2016 to January 2019. At Cabot Microelectronics he held the roles of Vice President and Chief Commercial Officer and Vice President of Corporate Development. He was previously with Celanese from August 2012 to September 2016 as Director of Raw Materials, where he led a team responsible for sourcing strategic raw materials. Before joining Celanese, he had additional roles in supply chain, sales and manufacturing management with Chemtura, Cabot Microelectronics and Rohm & Haas. Mr. Kelly also served as a board member of Nucera Solutions, a provider of specialty polymer solutions, from June 2021 through August 2022, and of Vertellus Global Holdings LLC, a supplier of specialty chemical products, from August 2019 through December 2020. He holds a Master of Business Administration from Drexel University, and Master's and Bachelor's Degrees in Chemical Engineering from Villanova University.
30

Table of Contents
Mark C. Murray was named Senior Vice President, Acetyls in February 2023 after having served as the interim leader of Celanese's Acetyls Business since November 2022. Before rejoining Celanese in June 2022 as Vice President of Business Strategy and Development, Mr. Murray served as Executive Vice President, Biomaterials and Advanced Technologies at Avantor, a global materials manufacturer and distributor. Mr. Murray previously served in senior commercial and business roles within the Acetyl Chain and Engineered Materials businesses at Celanese from November 2009 through June 2019 and from May 2002 to March 2007. Earlier in his career he served as a consultant with McKinsey & Co. Mr. Murray holds a Bachelor of Science degree in Chemical Engineering from the University of Texas at Austin and a Master of Business Administration from Northwestern University.
A. Lynne Puckett joined Celanese Corporation in February 2019 as Senior Vice President and General Counsel. Prior to that, Ms. Puckett was Senior Vice President‚ General Counsel and Secretary of Colfax Corporation since 2010. Prior to Colfax‚ she was a Partner with the law firm of Hogan Lovells. Her experience includes a broad range of corporate and transactional matters‚ including mergers and acquisitions‚ venture capital financings‚ debt and equity offerings‚ and general corporate and securities law matters. Before entering the practice of law‚ Ms. Puckett worked for the U.S. Central Intelligence Agency and a major U.S. defense contractor. She currently serves on the board of directors of Markel Corporation, an insurance and investment operations holding company and is a member of the Board of Trustees of the American Shakespeare Center. Ms. Puckett received a Juris Doctor degree from the University of Maryland School of Law and a Bachelor of Science degree from James Madison University.
31

Table of Contents
PART II
Item 5.  Market for the Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock, par value $0.0001 per share ("Common Stock"), has traded on the New York Stock Exchange under the symbol "CE" since January 21, 2005.
Holders
As of February 10, 2023, there were 111 holders of record of our Common Stock. A substantially greater number of holders of our common stock are "street name" or beneficial holders, whose shares of record are held by banks, brokers and other financial institutions.
Dividend Policy
The amount available to us to pay cash dividends is not currently restricted by our existing senior credit facilities and our indentures governing our senior unsecured notes. Also, the general corporation law of the State of Delaware imposes restrictions on the payment of dividends by all Delaware corporations that do not currently limit our ability to pay our current and anticipated regular cash dividends. See Note 14 - Shareholders' Equity in the accompanying consolidated financial statements for further information.
Celanese Purchases of its Equity Securities
We did not repurchase any Common Stock during the three months ended December 31, 2022. As of December 31, 2022, our Board of Directors had authorized the repurchase of $6.9 billion of our Common Stock since February 2008, with approximately $1.1 billion value of shares remaining that may be purchased under the program. See Note 14 - Shareholders' Equity in the accompanying consolidated financial statements for further information.
32

Table of Contents
Performance Graph
The following performance graph compares the cumulative total return on Celanese Corporation Common Stock from December 31, 2017 through December 31, 2022 to that of the Standard & Poor's ("S&P") 500 Stock Index and the Dow Jones U.S. Chemicals Index. Cumulative total return represents the change in stock price and the amount of dividends received during the indicated period, assuming reinvestment of all dividends. The performance graph assumes an investment of $100 on December 31, 2017. The stock performance shown in the graph is included in response to SEC requirements and is not intended to forecast or to be indicative of future performance.
Comparison of Cumulative Total Return
ce-20221231_g2.jpg
The above performance graph and related information shall not be deemed "soliciting material" or to be "filed" with the Securities and Exchange Commission, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that we specifically incorporate it by reference into such filing.
Recent Sales of Unregistered Securities
Our deferred compensation plan offers certain of our senior employees and directors the opportunity to defer a portion of their compensation in exchange for a future payment amount equal to their deferments plus or minus certain amounts based upon the market-performance of specified measurement funds selected by the participant. These deferred compensation obligations may be considered securities of Celanese. Participants were required to make deferral elections under the plan prior to January 1 of the year such deferrals will be withheld from their compensation. We relied on the exemption from registration provided by Section 4(a)(2) of the Securities Act in making this offer to a select group of employees, fewer than 35 of which were non-accredited investors under the rules promulgated by the Securities and Exchange Commission.
Item 6. Reserved
This item is no longer required, as the Company has adopted the amendment to Item 301 of Regulation S-K contained in SEC Release No. 33-10890, which became effective on February 10, 2021.
33

Table of Contents
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
In this Annual Report on Form 10-K ("Annual Report"), the term "Celanese" refers to Celanese Corporation, a Delaware corporation, and not its subsidiaries. The terms the "Company," "we," "our" and "us," refer to Celanese and its subsidiaries on a consolidated basis. The term "Celanese U.S." refers to the Company's subsidiary, Celanese US Holdings LLC, a Delaware limited liability company, and not its subsidiaries.
The following discussion should be read in conjunction with the accompanying consolidated financial statements and notes to the consolidated financial statements, which are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").
Investors are cautioned that the forward-looking statements contained in this section and other parts of this Annual Report involve both risk and uncertainty. Several important factors could cause actual results to differ materially from those anticipated by these statements. Many of these statements are macroeconomic in nature and are, therefore, beyond the control of management. See "Forward-Looking Statements" below.
Forward-Looking Statements
Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") and other parts of this Annual Report contain certain forward-looking statements and information relating to us that are based on the beliefs of our management as well as assumptions made by, and information currently available to, us. Generally, words such as "believe," "expect," "intend," "estimate," "anticipate," "project," "plan," "may," "can," "could," "might," and "will," and similar expressions, as they relate to us are intended to identify forward-looking statements. These statements reflect our current views and beliefs with respect to future events at the time that the statements are made, are not historical facts or guarantees of future performance and involve risks and uncertainties that are difficult to predict and many of which are outside of our control. Further, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. See "Special Note Regarding Forward-Looking Statements" at the beginning of this Annual Report for further discussion. All forward-looking statements made in this Annual Report are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed in this Annual Report will increase with the passage of time. We undertake no obligation, and disclaim any duty, to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in our expectations or otherwise.
Risk Factors
Item 1A. Risk Factors of this Annual Report also contains a description of certain risk factors that you should consider which could significantly affect our financial results. In addition, the following factors, among others, could cause our actual results to differ materially from those results, performance or achievements that may be expressed or implied by such forward-looking statements:
changes in general economic, business, political and regulatory conditions in the countries or regions in which we operate;
volatility or changes in the price and availability of raw materials and energy, particularly changes in the demand for, supply of, and market prices of ethylene, methanol, natural gas, wood pulp and fuel oil and the prices for electricity and other energy sources;
the length and depth of product and industry business cycles particularly in the automotive, electrical, textiles, electronics and construction industries;
the ability to pass increases in raw material prices, logistics costs and other costs on to customers or otherwise improve margins through price increases;
the accuracy or inaccuracy of our beliefs or assumptions regarding anticipated benefits of the acquisition (the "M&M Acquisition") by us of the majority of the Mobility & Materials business (the "M&M Business") of DuPont de Nemours, Inc. ("DuPont"), including as a result of the performance of the M&M Business between signing and closing of the M&M Acquisition;
the possibility that we will not be able to realize anticipated improvements in the M&M Business's financial performance – including optimizing pricing, currency mix and inventory – or realize the anticipated benefits of the M&M Acquisition, including synergies and growth opportunities, within the anticipated timeframe or at all, whether as a result of difficulties
34

Table of Contents
arising from the operation or integration of the M&M Business or other unanticipated delays, costs, inefficiencies or liabilities;
increased commercial, legal or regulatory complexity of entering into, or expanding our exposure to, certain end markets and geographies;
risks in the global economy and equity and credit markets and their potential impact on our ability to pay down debt in the future and/or refinance at suitable rates, in a timely manner, or at all;
diversion of management's attention from ongoing business operations and opportunities and other disruption caused by the M&M Acquisition and the integration processes and their impact on our existing business and relationships;
risks and costs associated with increased leverage from the M&M Acquisition, including increased interest expense and potential reduction of business and strategic flexibility;
the ability to maintain plant utilization rates and to implement planned capacity additions, expansions and maintenance;
the ability to reduce or maintain current levels of production costs and to improve productivity by implementing technological improvements to existing plants;
increased price competition and the introduction of competing products by other companies;
the ability to identify desirable potential acquisition or divestiture opportunities and to complete such transactions, including obtaining regulatory approvals, consistent with our strategy;
market acceptance of our products and technology;
compliance and other costs and potential disruption or interruption of production or operations due to accidents, interruptions in sources of raw materials, transportation, logistics or supply chain disruptions, cybersecurity incidents, terrorism or political unrest, public health crises (including, but not limited to, the COVID-19 pandemic), or other unforeseen events or delays in construction or operation of facilities, including as a result of geopolitical conditions, the occurrence of acts of war (such as the Russia-Ukraine conflict) or terrorist incidents or as a result of weather, natural disasters, or other crises;
the ability to obtain governmental approvals and to construct facilities on terms and schedules acceptable to us;
changes in applicable tariffs, duties and trade agreements, tax rates or legislation throughout the world including, but not limited to, adjustments, changes in estimates or interpretations or the resolution of tax examinations or audits that may impact recorded or future tax impacts and potential regulatory and legislative tax developments in the United States and other jurisdictions;
changes in the degree of intellectual property and other legal protection afforded to our products or technologies, or the theft of such intellectual property;
potential liability for remedial actions and increased costs under existing or future environmental, health and safety regulations, including those relating to climate change or other sustainability matters;
potential liability resulting from pending or future claims or litigation, including investigations or enforcement actions, or from changes in the laws, regulations or policies of governments or other governmental activities, in the countries in which we operate;
changes in currency exchange rates and interest rates; and
various other factors, both referenced and not referenced in this Annual Report.
35

Table of Contents
Many of these factors are macroeconomic in nature and are, therefore, beyond our control. COVID-19 and responses to the pandemic by governments and businesses, have significantly increased financial, economic and cost volatility and uncertainty, exacerbating the risks and potential impact of these factors. Should one or more of these risks or uncertainties materialize, affect us in ways or to an extent that we currently do not expect or consider to be significant, or should underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from those described in this Annual Report as anticipated, believed, estimated, expected, intended, planned or projected. We neither intend nor assume any obligation to update these forward-looking statements, which speak only as of their dates.
Results of Operations
Financial Highlights
Year Ended
December 31,
20222021Change
(In $ millions, except percentages)
Statement of Operations Data
Net sales9,673 8,537 1,136 
Gross profit2,380 2,682 (302)
Selling, general and administrative ("SG&A") expenses
(824)(633)(191)
Other (charges) gains, net(8)(11)
Operating profit (loss)1,378 1,946 (568)
Equity in net earnings (loss) of affiliates220 146 74 
Non-operating pension and other postretirement employee benefit (expense) income
17 106 (89)
Interest expense(405)(91)(314)
Interest income69 61 
Dividend income - equity investments133 147 (14)
Earnings (loss) from continuing operations before tax1,421 2,248 (827)
Earnings (loss) from continuing operations1,910 1,918 (8)
Earnings (loss) from discontinued operations(8)(22)14 
Net earnings (loss)1,902 1,896 
Net earnings (loss) attributable to Celanese Corporation1,894 1,890 
Other Data
Depreciation and amortization462 371 91 
SG&A expenses as a percentage of Net sales8.5  %7.4  %
Operating margin(1)
14.2  %22.8  %
Other (charges) gains, net
Restructuring(6)(5)(1)
Asset impairments(14)(2)(12)
Plant/office closures12 10 
Total Other (charges) gains, net(8)(11)
_____________________________
(1)Defined as Operating profit (loss) divided by Net sales.
36

Table of Contents
As of December 31,
20222021
(In $ millions)
Balance Sheet Data
Cash and cash equivalents1,508 536 
Short-term borrowings and current installments of long-term debt - third party and affiliates1,306 791 
Long-term debt, net of unamortized deferred financing costs13,373 3,176 
Total debt14,679 3,967 
Factors Affecting Business Segment Net Sales
The percentage increase (decrease) in Net sales attributable to each of the factors indicated for each of our business segments is as follows:
Year Ended December 31, 2022 Compared to Year Ended December 31, 2021
VolumePriceCurrencyTotal
(In percentages)
Engineered Materials33 23 (8)48 
Acetyl Chain(6)(3)(3)
Total Company11 (4)13 
Consolidated Results
Year Ended December 31, 2022 Compared to Year Ended December 31, 2021
Net sales increased $1.1 billion, or 13%, for the year ended December 31, 2022 compared to the same period in 2021 primarily due to:
higher pricing in both of our segments, primarily driven by our Engineered Materials segment, due to higher raw material costs, higher energy costs and product mix; and
higher volume in our Engineered Materials segment, primarily in elastomers related to our acquisition of the majority of the Mobility & Materials business (the "M&M Business"), our acquisition of the Santoprene™ thermoplastic vulcanizates elastomers business of Exxon Mobil Corporation ("Santoprene"), as well as the Korea Engineering Plastics Co., Ltd., ("KEPCO") restructuring;
partially offset by:
an unfavorable currency impact resulting from a weaker euro relative to the U.S. dollar; and
lower volume in our Acetyl Chain segment, primarily due to decreased demand in Asia.
Selling, general and administrative expenses increased $191 million, or 30%, for the year ended December 31, 2022 compared to the same period in 2021, primarily due to:
higher functional and project spending of $187 million in Other Activities, primarily related to our acquisitions of the M&M Business and Santoprene.
Operating profit decreased $568 million, or 29%, for the year ended December 31, 2022 compared to the same period in 2021 primarily due to:
higher raw material and energy costs in both of our segments;
higher spending in both of our segments, primarily as a result of our acquisitions of the M&M Business and Santoprene, as well as increased plant operating and maintenance expenses; and
37

Table of Contents
lower Net sales in our Acetyl Chain segment;
partially offset by:
higher Net sales in our Engineered Materials segment.
Non-operating pension and other postretirement employee benefit income decreased $89 million for the year ended December 31, 2022 compared to the same period in 2021 primarily due to an increase in recognized actuarial loss of $40 million as a result of lower than expected actual asset returns, partially offset by an increase in the weighted average discount rate used to determine benefit obligations from 2.5% to 4.9% and a decrease in expected asset returns of $39 million. See Note 12 - Benefit Obligations in the accompanying consolidated financial statements for further information.
Our effective income tax rate for the year ended December 31, 2022 was (34)% compared to 15% for the year ended 2021. The lower effective income tax rate for the year ended December 31, 2022 compared to the same period in 2021 was primarily due to the reorganization of our foreign legal entity holding structure and relocation of certain of our intangible assets to align with the acquired M&M Business foreign operations. See Note 15 - Income Taxes in the accompanying consolidated financial statements for further information.

Discussion of our financial condition and results of operations for the year ended December 31, 2021 compared to the year ended December 31, 2020 and for the year ended December 31, 2020 compared to the year ended December 31, 2019, can be found in Part II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Reports for the years ended December 31, 2021 and December 31, 2020, respectively.

38

Table of Contents
Business Segments
Engineered Materials
Year Ended
December 31,
%
20222021ChangeChange
(In $ millions, except percentages)
Net sales4,024 2,718 1,306 48.1 %
Net Sales Variance
Volume33  %
Price23  %
Currency(8) %
Operating profit (loss)429 411 18 4.4 %
Operating margin10.7 %15.1  %
Equity in net earnings (loss) of affiliates
202 126 76 60.3 %
Depreciation and amortization
226 144 82 56.9 %
Year Ended December 31, 2022 Compared to Year Ended December 31, 2021
Net sales increased for the year ended December 31, 2022 compared to the same period in 2021 primarily due to:
higher volume, primarily in elastomers related to our acquisition of the M&M Business, our acquisition of Santoprene, as well as the KEPCO restructuring. See Note 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial statements for further information; and
higher pricing for most of our products, primarily due to higher raw material costs, higher energy costs and product mix;
partially offset by:
an unfavorable currency impact resulting from a weaker euro relative to the U.S. dollar.
Operating profit increased for the year ended December 31, 2022 compared to the same period in 2021 primarily due to:
higher Net sales;
largely offset by:
higher raw material costs for all of our products and increased sourcing costs as a result of higher logistical costs and global shipping constraints and our acquisition of the M&M Business;
higher spending of $258 million, primarily as a result of our acquisitions of the M&M Business and Santoprene, as well as plant operating and administrative expenses; and
higher energy costs of $124 million, primarily for steam.
Equity in net earnings (loss) of affiliates increased for the for the year ended December 31, 2022 compared to the same period in 2021 primarily due to:
an increase in equity investment in earnings of $90 million from our Ibn Sina strategic affiliate, primarily as a result of tighter market conditions and stronger demand.

39

Table of Contents
Acetyl Chain
Year Ended
December 31,
%
20222021ChangeChange
(In $ millions, except percentages)
Net sales5,743 5,894 (151)(2.6)%
Net Sales Variance
Volume(6) %
Price %
Currency(3) %
Operating profit (loss)1,447 1,875 (428)(22.8)%
Operating margin25.2 %31.8  %
Dividend income - equity investments132 146 (14)(9.6)%
Depreciation and amortization
213 210 1.4 %
Year Ended December 31, 2022 Compared to Year Ended December 31, 2021
Net sales decreased for the year ended December 31, 2022 compared to the same period in 2021 primarily due to:
lower volume for most of our products due to decreased demand, primarily in Asia; and
an unfavorable currency impact resulting from a weaker euro relative to the U.S. dollar;
partially offset by:
higher pricing for most of our products, primarily due to tighter market conditions as a result of increased customer demand in the Western Hemisphere and supply constraints across most regions; and
higher volume for VAM due to increased demand.
Operating profit decreased for the year ended December 31, 2022 compared to the same period in 2021 primarily due to:
higher raw material and sourcing costs, primarily for methanol and carbon monoxide due to stronger demand and tighter market conditions, as well as higher distribution costs due to global shipping constraints;
lower Net sales;
higher energy costs of $89 million, primarily due to price increases for natural gas and electricity; and
higher spending of $53 million, primarily as a result of increased plant operating and maintenance expenses.
40

Table of Contents
Other Activities
Year Ended
December 31,
%
20222021ChangeChange
(In $ millions, except percentages)
Operating profit (loss)
(498)(340)(158)(46.5)%
Non-operating pension and other postretirement employee benefit (expense) income
17 106 (89)(84.0)%
Year Ended December 31, 2022 Compared to Year Ended December 31, 2021
Operating loss increased for the year ended December 31, 2022 compared to the same period in 2021 primarily due to:
higher functional and project spending of $187 million, primarily related to our acquisitions of the M&M Business and Santoprene;
partially offset by:
lower incentive compensation cost.
Non-operating pension and other postretirement employee benefit income decreased for the year ended December 31, 2022 compared to the same period in 2021 primarily due to:
an increase in recognized actuarial loss of $40 million as a result of lower than expected actual asset returns, partially offset by an increase in the weighted average discount rate used to determine benefit obligations from 2.5% to 4.9%, and a decrease in expected asset returns of $39 million. See Note 12 - Benefit Obligations in the accompanying consolidated financial statements for further information.
Liquidity and Capital Resources
Our primary sources of liquidity are cash generated from operations, available cash and cash equivalents, dividends from our portfolio of strategic investments and available borrowings under our senior unsecured revolving credit facility. As of December 31, 2022, we have $1.45 billion available for borrowing under our senior unsecured revolving credit facility, if required, in meeting our working capital needs and other contractual obligations. In addition, we held cash and cash equivalents of $1.5 billion as of December 31, 2022. We are actively managing our business to maintain cash flow, and we believe that liquidity from the above-referenced sources will be sufficient to meet our operational and capital investment needs and financial obligations for the foreseeable future.
On November 1, 2022, we acquired a majority of the M&M Business for a purchase price of $11.0 billion, subject to transaction adjustments, in an all-cash transaction. For further information regarding the acquisition and related financing transactions, see Debt and Other Obligations in this Liquidity and Capital Resources and Note 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial statements for further information.
While our contractual obligations, commitments and debt service requirements over the next several years are significant, we continue to believe we will have available resources to meet our liquidity requirements, including debt service, for the next twelve months. If our cash flow from operations is insufficient to fund our debt service and other obligations, we may be required to use other means available to us such as increasing our borrowings, reducing or delaying capital expenditures, seeking additional capital or seeking to restructure or refinance our indebtedness. There can be no assurance, however, that we will continue to generate cash flows at or above current levels.
Capital expenditures were $543 million for the year ended December 31, 2022. We continue to prioritize those projects expected to drive productivity in the near-term and expect capital expenditures to be approximately $600 million in 2023, primarily due to certain investments in growth opportunities and productivity improvements. In Engineered Materials, our expansion of (1) the compounding capacity and (2) the new liquid crystal polymer ("LCP") unit at our facilities in Nanjing, China are, after experiencing some delays due to certain permitting issues, in detailed engineering design and our (3) energy optimization productivity project at our polyoxymethylene ("POM") unit in Frankfurt, Germany is in front end engineering design. In the Acetyl Chain, our planned expansion of (1) the capacity of our vinyl acetate ethylene ("VAE") emulsions units in Nanjing, China, (2) the capacity of our vinyl acetate monomer ("VAM") plant in Bay City, Texas, (3) the sustainable
41

production of methanol at our Fairway joint venture methanol unit in Clear Lake, Texas using captured carbon dioxide as feedstock, (4) our acetic acid complex expansion in Clear Lake, Texas and (5) our VAE emulsion plant expansion in Frankfurt, Germany, are in various stages of construction and on schedule. We continue to see the incremental capacity from investments made in recent years strengthen our manufacturing network reliability to best serve our customers.
We did not repurchase any Common Stock during the year ended December 31, 2022.
On a stand-alone basis, Celanese and its immediate 100% owned subsidiary, Celanese U.S., have no independent external operations of their own. Accordingly, they generally depend on the cash flow of their subsidiaries and their ability to pay dividends and make other distributions to Celanese and Celanese U.S. in order to meet their obligations, including their obligations under senior credit facilities and senior notes, and to pay dividends on our Common Stock.
We are subject to capital controls and exchange restrictions imposed by the local governments in certain jurisdictions where we operate, such as China, India and Indonesia. Capital controls impose limitations on our ability to exchange currencies, repatriate earnings or capital, lend via intercompany loans or create cross-border cash pooling arrangements. Our largest exposure to a country with capital controls is in China. Pursuant to applicable regulations, foreign-invested enterprises in China may pay dividends only out of their accumulated profits, if any, determined in accordance with Chinese accounting standards and regulations. In addition, the Chinese government imposes certain currency exchange controls on cash transfers out of China, puts certain limitations on duration, purpose and amount of intercompany loans, and restricts cross-border cash pooling. While it is possible that future tightening of these restrictions or application of new similar restrictions could impact us, these limitations do not currently restrict our operations.
We remain in compliance with the financial covenants under our senior unsecured revolving credit facility and expect to remain in compliance based on our current expectation of future results of operations. If our actual future results of operations differ materially from these expectations, or if we otherwise experience increased indebtedness or substantially lower EBITDA, we may be required to seek an amendment or waiver of such covenants which may increase our borrowing costs under those debt instruments.
Cash Flows
Cash and cash equivalents increased $972 million to $1.5 billion as of December 31, 2022 compared to December 31, 2021. As of December 31, 2022, $1.3 billion of the $1.5 billion of cash and cash equivalents was held by our foreign subsidiaries. Under the TCJA, we have incurred a prior year charge associated with the deemed repatriation of previously unremitted foreign earnings, including foreign held cash. These funds are largely accessible without additional material tax consequences, if needed in the U.S., to fund operations. See Note 15 - Income Taxes in the accompanying consolidated financial statements for further information.
Year Ended December 31, 2022 Compared to Year Ended December 31, 2021
Net Cash Provided by (Used in) Operating Activities
Net cash provided by operating activities increased $62 million to $1.8 billion for the year ended December 31, 2022 compared to $1.8 billion for the same period in 2021, primarily due to:
favorable changes in trade working capital of $291 million, primarily due to the timing of collections of trade receivables, inventory builds and settlement of trade payables;
partially offset by:
a lower earnings performance.
Net Cash Provided by (Used in) Investing Activities
Net cash used in investing activities increased $10.0 billion to $11.1 billion for the year ended December 31, 2022 compared to $1.1 billion for the same period in 2021, primarily due to:
a net cash outflow of $9.4 billion related to the M&M Acquisition in November 2022, partially offset by the acquisition of the Santoprene™ thermoplastic vulcanizates elastomers business of Exxon Mobil Corporation in 2021,which did not recur in the current year. See Note 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial statements for further information; and
42

proceeds from the sale of marketable securities of $516 million, which did not recur in the current year.
Net Cash Provided by (Used in) Financing Activities
Net cash provided by financing activities increased $11.3 billion to $10.3 billion for the year ended December 31, 2022 compared to net cash used in financing activities of $1.0 billion for the same period in 2021, primarily due to:
an increase in net proceeds of long-term debt of $10.0 billion, primarily due to the issuance of senior unsecured notes consisting of $2.0 billion in principal amount of 5.900% notes due July 5, 2024, $1.75 billion in principal amount of 6.050% notes due March 15, 2025, $2.0 billion in principal amount of 6.165% notes due July 15, 2027, $750 million in principal amount of 6.330% notes due July 15, 2029 and $1.0 billion in principal amount of 6.379% notes due July 15, 2032 (collectively, the "Acquisition USD Notes"), as well as senior unsecured notes consisting of €1.0 billion in principal amount of 4.777% notes due July 19, 2026 and €500 million in principal amount of 5.337% notes due January 19, 2029 (collectively, the "Acquisition Euro Notes" and, together with the Acquisition USD Notes, the "Acquisition Notes"), partially offset by the maturity of the 5.875% senior unsecured notes ("5.875% Notes") which were repaid during the year ended December 31, 2021;
a decrease in share repurchases of our Common Stock of $983 million during the year ended December 31, 2022; and
an increase in net borrowings on short-term debt of $336 million, primarily due to borrowing under the senior unsecured revolving credit facility related to the M&M Acquisition in November 2022.
In addition, exchange rates had a favorable impact of $4 million on cash and cash equivalents and an unfavorable impact of $15 million on cash and cash equivalents for the years ended December 31, 2022 and 2021, respectively.
Debt and Other Obligations
Senior Credit Facilities
In connection with the M&M Acquisition, on February 17, 2022, we entered into a bridge facility commitment letter with Bank of America, N.A. ("Bank of America") pursuant to which Bank of America committed to provide, subject to the terms and conditions set forth therein, a 364-day $11.0 billion senior unsecured bridge term loan facility (the "Bridge Facility"). Subsequently, commitments in respect of the Bridge Facility were syndicated to additional financial institutions as contemplated thereby.
On March 18, 2022, we entered into a term loan credit agreement (the "March 2022 Term Loan Credit Agreement"), pursuant to which lenders have provided a tranche of delayed-draw term loans due 364 days from issuance in an amount equal to $500 million and a tranche of delayed-draw term loans due 5 years from issuance in an amount equal to $1.0 billion. On September 16, 2022, Celanese, Celanese U.S. and certain subsidiaries entered into an additional term loan credit agreement (the "September 2022 Term Loan Credit Agreement" and, together with the March 2022 Term Loan Credit Agreement, the "Term Loan Credit Agreements"), pursuant to which lenders have provided delayed-draw term loans due 3 years from issuance in an amount equal to $750 million (the term loans represented by the Term Loan Credit Agreements collectively, the "Term Loan Facility"). The Term Loan Facility was fully drawn during the three months ended December 31, 2022. The Term Loan Facility is guaranteed by Celanese and domestic subsidiaries representing substantially all of our U.S. assets and business operations.
On March 18, 2022, we entered into a new revolving credit agreement (the "New Revolving Credit Agreement" and, together with the Term Loan Credit Agreements the "Credit Agreements") consisting of a $1.75 billion senior unsecured revolving credit facility (with a letter of credit sublimit), maturing in 2027. The proceeds of a $365 million borrowing under the new senior unsecured revolving credit facility were used to repay and terminate our existing revolving credit facility.
43

Senior Notes
We have outstanding senior unsecured notes, issued in public offerings registered under the Securities Act of 1933 ("Securities Act"), as amended, as follows (collectively, the "Senior Notes"):
Senior NotesIssue DatePrincipalInterest RateInterest Pay DatesMaturity Date
(In millions)(In percentages)
1.125% NotesSeptember 2016€4501.125September 26September 26, 2023
3.500% NotesMay 2019$5003.500May 8November 8May 8, 2024
5.900% NotesJuly 2022$2,0005.900January 5July 5July 5, 2024
1.250% NotesDecember 2017€3001.250February 11February 11, 2025
6.050% NotesJuly 2022$1,7506.050March 15September 15March 15, 2025
4.777% NotesJuly 2022€1,0004.777July 19July 19, 2026
1.400% NotesAugust 2021$4001.400February 5August 5August 5, 2026
2.125% NotesNovember 2018€5002.125March 1March 1, 2027
6.165% NotesJuly 2022$2,0006.165January 15July 15July 15, 2027
0.625% NotesSeptember 2021€5000.625September 10September 10, 2028
5.337% NotesJuly 2022€5005.337January 19January 19, 2029
6.330% NotesJuly 2022$7506.330January 15July 15July 15, 2029
6.379% NotesJuly 2022$1,0006.379January 15July 15July 15, 2032
The Senior Notes were issued by Celanese U.S. and are guaranteed on a senior unsecured basis by Celanese and the Subsidiary Guarantors. Celanese U.S. may redeem some or all of each of the Senior Notes, prior to their respective maturity dates, at a redemption price of 100% of the principal amount, plus a "make-whole" premium as specified in the applicable indenture, plus accrued and unpaid interest, if any, to the redemption date.
On July 14, 2022 and July 19, 2022, Celanese U.S. completed the offerings of the Acquisition USD Notes and Acquisition Euro Notes, respectively. Fees and expenses of the offering of the Acquisition Notes, inclusive of underwriting discounts, were $65 million. Net proceeds from the sale of the Acquisition Notes were used to fund the purchase price for the M&M Acquisition, with any remaining proceeds being used for general corporate purposes.
The entry into the Term Loan Credit Agreements and the offerings of the Acquisition Notes reduced availability under the Bridge Facility to zero, and we terminated the Bridge Facility. During the year ended December 31, 2022, we paid $66 million in fees related to the Bridge Facility commitment, amortizing these fees to interest expense.
Accounts Receivable Securitization Facility
In 2021, we entered into an amendment to the amended and restated receivables purchase agreement under our U.S. accounts receivable purchasing facility among certain of our subsidiaries, our wholly-owned, "bankruptcy remote" special purpose subsidiary ("SPE") and certain global financial institutions ("Purchasers"). We de-recognized $1.1 billion and $1.1 billion of accounts receivable under this agreement for the years ended December 31, 2022 and 2021, respectively, and collected $1.1 billion and $1.1 billion of accounts receivable sold under this agreement during the same periods. Unsold U.S. accounts receivable of $99 million were pledged by the SPE as collateral to the Purchasers as of December 31, 2022.
Factoring and Discounting Agreements
We have factoring agreements in Europe and Singapore with financial institutions. We de-recognized $320 million and $230 million of accounts receivable under these factoring agreements for the years ended December 31, 2022 and 2021, respectively, and collected $325 million and $185 million of accounts receivable sold under these factoring agreements during the same periods.
In 2021, we entered into a letter of credit discounting agreement in Singapore with a financial institution. We de-recognized $50 million and $70 million of accounts receivable under this agreement for the years ended December 31, 2022 and 2021, respectively.
Our material financing arrangements contain customary covenants, including the maintenance of certain financial ratios, events of default and change of control provisions. Failure to comply with these covenants, or the occurrence of any other event of
44

default, could result in acceleration of the borrowings and other financial obligations. We are in compliance with all of the covenants related to our debt agreements as of December 31, 2022. On February 21, 2023, we amended the Credit Agreements for certain covenants included in the respective credit agreements.
See Note 11 - Debt in the accompanying consolidated financial statements for further information.
Guarantor Financial Information
We have outstanding senior unsecured notes, issued in public offerings registered under the Securities Act of 1933, as amended (collectively, the "Senior Notes"). The Senior Notes were issued by Celanese U.S. ("Issuer") and are guaranteed by Celanese Corporation ("Parent Guarantor") and the Subsidiary Guarantors (collectively the "Obligor Group"). See Note 11 - Debt in the accompanying consolidated financial statements for further information. The Issuer and Subsidiary Guarantors are 100% owned subsidiaries of the Parent Guarantor. The Subsidiary Guarantors are listed in Exhibit 22.1 to this Annual Report.
The Parent Guarantor and the Subsidiary Guarantors have guaranteed the Senior Notes on a full and unconditional, joint and several, senior unsecured basis. The guarantees are subject to certain customary release provisions, including that a Subsidiary Guarantor will be released from its respective guarantee in specified circumstances, including (i) the sale or transfer of all of its assets or capital stock; (ii) its merger or consolidation with, or transfer of all or substantially all of its assets to, another person; or (iii) its ceasing to be a majority-owned subsidiary of the Issuer in connection with any sale of its capital stock or other transaction. Additionally, a Subsidiary Guarantor will be released from its guarantee of the Senior Notes at such time that it ceases to guarantee the Issuer's obligations under the Credit Agreement (subject to the satisfaction of customary document delivery requirements). The obligations of the Subsidiary Guarantors under their guarantees are limited as necessary to prevent such guarantees from constituting a fraudulent conveyance or fraudulent transfer under applicable law.
The Parent Guarantor and the Issuer are holding companies that conduct substantially all of their operations through their subsidiaries, which own substantially all of our consolidated assets. The Parent Guarantor has no material assets other than the stock of its immediate 100% owned subsidiary, the Issuer. The principal source of cash to pay the Parent Guarantor's and the Issuer's obligations, including obligations under the Senior Notes and the guarantee of the Issuer's obligations under the Credit Agreement, is the cash that our subsidiaries generate from their operations. Each of the Subsidiary Guarantors and our non-guarantor subsidiaries is a distinct legal entity and, under certain circumstances, applicable country or state laws, regulatory limitations and terms of other debt instruments may limit our subsidiaries' ability to distribute cash to the Issuer and the Parent Guarantor.
For cash management purposes, we transfer cash among the Parent Guarantor, Issuer, Subsidiary Guarantors and non-guarantors through intercompany financing arrangements, contributions or declaration of dividends between the respective parent and its subsidiaries. While the non-guarantor subsidiaries do not guarantee the Issuer's obligations under our outstanding debt, the transfer of cash under these activities facilitates the ability of the recipient to make specified third-party payments for principal and interest on the Senior Notes, Credit Agreement, other outstanding debt, Common Stock dividends and Common Stock repurchases.
The summarized financial information of the Obligor Group is presented below on a combined basis after the elimination of: (i) intercompany transactions among such entities and (ii) equity in earnings from and investments in the non-guarantor subsidiaries. Transactions with, and amounts due to or from, non-guarantor subsidiaries and affiliates are separately disclosed.
Year Ended
December 31,
2022
(In $ millions)
Net sales to third parties2,022 
Net sales to non-guarantor subsidiaries1,160 
Total net sales3,182 
Gross profit609 
Earnings (loss) from continuing operations327 
Net earnings (loss)321 
Net earnings (loss) attributable to the Obligor Group321 
45

As of December 31,
20222021
(In $ millions)
Receivables from non-guarantor subsidiaries754 624 
Other current assets1,588 1,236 
Total current assets2,342 1,860 
Goodwill567 578 
Other noncurrent assets2,718 2,584 
Total noncurrent assets3,285 3,162 
Current liabilities due to non-guarantor subsidiaries2,100 2,493 
Current liabilities due to affiliates64 
Other current liabilities2,201 1,347 
Total current liabilities4,303 3,904 
Noncurrent liabilities due to non-guarantor subsidiaries3,400 2,348 
Other noncurrent liabilities13,842 3,610 
Total noncurrent liabilities17,242 5,958 
Share Capital
On February 8, 2023, we declared a quarterly cash dividend of $0.70 per share on our Common Stock amounting to approximately $76 million. The cash dividend will be paid on March 7, 2023 to holders of record as of February 21, 2023.
Our Board of Directors has authorized the aggregate repurchase of $6.9 billion of our Common Stock since February 2008. These authorizations give management discretion in determining the timing and conditions under which shares may be repurchased. This repurchase program does not have an expiration date. During the year ended December 31, 2022, we did not repurchase any shares of our Common Stock. As of December 31, 2022, we had $1.1 billion remaining under authorizations by our Board of Directors.
See Note 14 - Shareholders' Equity in the accompanying consolidated financial statements for further information.
Contractual Obligations, Guarantees and Commitments
We calculated $2.7 billion of all future interest payments on debt and other obligations using the rate in effect on December 31, 2022 and $476 million of all future pension and other postretirement funding obligations. We have directly guaranteed various debt obligations under agreements with third parties related to certain equity affiliates. As of December 31, 2022, we have directly guaranteed $142 million and €27 million of such obligations.
We have not entered into any material off-balance sheet arrangements.
In the accompanying consolidated financial statements, see Note 10 - Current Other Liabilities for current asset retirement obligations, Note 11 - Debt for a description of the guarantees under our Senior Notes and Credit Agreement, Note 12 - Benefit Obligations for a description of the pension and other postretirement funding obligations, Note 13 - Environmental for a description of environmental obligations, Note 15 - Income Taxes for a description of uncertain tax positions, Note 16 - Leases for lease obligations and Note 19 - Commitments and Contingencies for a discussion of commitments and contingencies related to legal and regulatory proceedings.
Market Risks
See Item 7A. Quantitative and Qualitative Disclosure about Market Risk for further information.
Business Environment
We experienced significant cost inflation, inflationary pressure and supply disruptions related to the sourcing of raw materials, energy, logistics and labor in 2022. We continue to closely monitor the impact of, and responses to, COVID-19 variants, including government imposed lockdowns and permitted reopenings in various locations around the world, and the effects of geopolitical events on demand conditions and the supply chain. Demand conditions across certain regions in the Western Hemisphere and China deteriorated, creating uncertainty, impacting consumer activity and driving customer destocking.
46

Average prices of energy feedstocks, particularly natural gas, which are a significant input and source of energy for our manufacturing operations, increased in the Western Hemisphere and particularly in Europe. We also experienced cost pressure on raw material inputs. We continued pricing actions intended to offset these inflationary headwinds experienced during 2022. Moderation of acetyls pricing trended to more normalized levels by the end of 2022. We expect sourcing costs and inflationary pressures to improve in 2023.
We continue to monitor the situation in Ukraine. While the conflict has not had a material impact on our business, financial condition or results of operations to date, we have experienced shortages in materials and increased costs for transportation, energy and raw materials as well as other supply chain challenges, particularly in Europe, due in part to the effects of the conflict, and government responses thereto, including sanctions, on the global economy. We continue to monitor these developments.
Following Russia's invasion, we have suspended sales into Russia, Belarus and the sanctioned regions of Ukraine. Revenue from these countries and regions constituted less than 1% of our consolidated Net sales for the years ended December 31, 2022 and 2021 and we have no manufacturing assets in these countries or regions.
Critical Accounting Policies and Estimates
Our consolidated financial statements are based on the selection and application of significant accounting policies. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of net sales, expenses and allocated charges during the reporting period. Actual results could differ from those estimates. However, we are not currently aware of any reasonably likely events or circumstances that would result in materially different results.
We believe the following accounting policies and estimates are critical to understanding the financial reporting risks present in the current economic environment. These matters, and the judgments and uncertainties affecting them, are also essential to understanding our reported and future operating results. See Note 2 - Summary of Accounting Policies in the accompanying consolidated financial statements for further information.
Purchase Accounting
We recognize the identifiable tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The excess of purchase price over the aggregate fair values is recorded as goodwill. Intangible assets are valued using the relief from royalty, multi-period excess earnings and discounted cash flow methodologies, which are considered Level 3 measurements. The relief from royalty method estimates our theoretical royalty savings from ownership of the intangible asset. Key assumptions used in this method include discount rates, royalty rates, growth rates, sales projections and terminal value rates. Key assumptions used in the multi-period excess earnings method include discount rates, retention rates, growth rates, sales projections, expense projections and contributory asset charges. Key assumptions used in the discounted cash flow valuation model include discount rates, growth rates, tax rates, cash flow projections and terminal value rates. All of these methodologies require significant management judgment and, therefore, are susceptible to change. We calculate the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed to allocate the purchase price at the acquisition date. We may use the assistance of third-party valuation consultants. See Note 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial statements for further information.
Recoverability of Long-Lived Assets
Recoverability of Goodwill and Indefinite-Lived Assets
We assess the recoverability of the carrying amount of our goodwill and other indefinite-lived intangible assets annually during the third quarter of our fiscal year using June 30 balances or whenever events or changes in circumstances indicate that the carrying amount of the asset may not be fully recoverable.
When assessing the recoverability of goodwill and other indefinite-lived intangible assets, we may first assess qualitative factors in determining whether it is more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is less than its carrying amount. The qualitative evaluation is an assessment of multiple factors, including the current operating environment, financial performance and market considerations. We may elect to bypass the qualitative assessment for some or all of our reporting units or other indefinite-lived intangible assets and proceed directly to a quantitative analysis depending on the facts and circumstances.
47

In performing a quantitative analysis of goodwill, recoverability of goodwill for each reporting unit is measured using a discounted cash flow model incorporating discount rates commensurate with the risks involved. The key assumptions used in the discounted cash flow valuation model include discount rates, growth rates, tax rates, cash flow projections and terminal value rates. Discount rates, growth rates and cash flow projections are the most sensitive and susceptible to change as they require significant management judgment.
Management tests other indefinite-lived intangible assets quantitatively utilizing the relief from royalty method under the income approach to determine the estimated fair value for each indefinite-lived intangible asset. Key assumptions used in this model include discount rates, royalty rates, growth rates, tax rates, sales projections and terminal value rates. Discount rates, royalty rates, growth rates, growth rates and sales projections are the assumptions most sensitive and susceptible to change as they require significant management judgment.
Specific assumptions discussed above are updated at the date of each test to consider current industry and company-specific risk factors from the perspective of a market participant. The current business environment is subject to evolving market conditions and requires significant management judgment to interpret the potential impact to our assumptions. To the extent that changes in the current business environment result in adjusted management projections, impairment losses may occur in future periods.
See Note 9 - Goodwill and Intangible Assets, Net in the accompanying consolidated financial statements for further information.
Benefit Obligations
Various assumptions are used in the calculation of the actuarial valuation of the employee benefit plans. These key assumptions include the discount rate and expected long-term rates of return on plan assets. The actuarial assumptions used may differ materially from actual results due to changing market and economic conditions. These differences may result in a significant impact to the amount of net periodic benefit cost recorded in future periods.
Pension assumptions are reviewed annually in the fourth quarter of each fiscal year and whenever a plan is required to be remeasured. Assumptions are reviewed on a plan and country-specific basis by third-party actuaries and senior management. Such assumptions are adjusted as appropriate to reflect changes in market rates and outlook.
See Note 12 - Benefit Obligations in the accompanying consolidated financial statements for further information.
The estimated change in pension net periodic benefit cost and projected benefit obligations that would occur in 2023 from a change in the indicated assumptions are as follows:
Change in RateImpact on Net Periodic Benefit CostImpact on Projected Benefit Obligations
(In $ millions)
U.S. Pension Benefits
Decrease in the discount rate0.5 %(5)85 
Decrease in the long-term expected rate of return on plan assets(1)
0.5 %10 N/A
Non-U.S. Pension Benefits
Decrease in the discount rate0.5 %(1)53 
Decrease in the long-term expected rate of return on plan assets0.5 %N/A
______________________________
(1)Excludes nonqualified pension plans.
Income Taxes
We regularly review our deferred tax assets for recoverability and establish a valuation allowance as needed. In forming our judgment regarding the recoverability of deferred tax assets related to deductible temporary differences and tax attribute carryforwards, we give weight to positive and negative evidence based on the extent to which the forms of evidence can be objectively verified.
48

The recoverability of deferred tax assets and the recognition and measurement of uncertain tax positions are subject to various assumptions and management judgment. If actual results differ from the estimates made by management in establishing or maintaining valuation allowances against deferred tax assets, the resulting change in the valuation allowance would generally impact earnings or Other comprehensive income depending on the nature of the respective deferred tax asset. In addition, the positions taken with regard to tax contingencies may be subject to audit and review by tax authorities, which may result in future taxes, interest and penalties.
See Note 15 - Income Taxes in the accompanying consolidated financial statements for further information.
Recent Accounting Pronouncements
See Note 3 - Recent Accounting Pronouncements in the accompanying consolidated financial statements for information regarding recent accounting pronouncements.
Item 7A.  Quantitative and Qualitative Disclosures About Market Risk
Market Risks
Our financial market risk consists principally of exposure to currency exchange rates, interest rates and commodity prices. Exchange rate and interest rate risks are managed with a variety of techniques, including use of derivatives. We have in place policies of hedging against changes in currency exchange rates, interest rates and commodity prices as described below.
See Note 2 - Summary of Accounting Policies in the accompanying consolidated financial statements for further information regarding our derivative and hedging instruments accounting policies related to financial market risk.
See Note 17 - Derivative Financial Instruments in the accompanying consolidated financial statements for further information regarding our market risk management and the related impact on our financial position and results of operations.
Foreign Currency Forwards and Swaps
A portion of our assets, liabilities, net sales and expenses are denominated in currencies other than the U.S. dollar. Fluctuations in the value of these currencies against the U.S. dollar can have a direct and material impact on the business and financial results. Our largest exposures are to the euro and Chinese yuan ("CNY"). A decline in the value of the euro and CNY versus the U.S. dollar results in a decline in the U.S. dollar value of our sales and earnings denominated in euros and CNYs. Likewise, an increase in the value of the euro and CNY versus the U.S. dollar would result in an opposite effect. We estimate that a 10% change in the euro/U.S. dollar and CNY/U.S. dollar exchange rates would impact our earnings by $61 million and $41 million, respectively.
Item 8.  Financial Statements and Supplementary Data
The selected quarterly financial data is no longer required, as the Company has adopted the amendment to Item 302 of Regulation S-K contained in SEC Release No. 33-10890, which became effective on February 10, 2021. There were no material retrospective changes to any quarters in the two most recent fiscal years that would require this disclosure.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
49

Table of Contents

Item 9A.  Controls and Procedures
Under the supervision and with the participation of our management, including the Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended, as of the end of the period covered by this Annual Report. Based on that evaluation, as of December 31, 2022, the Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures are effective.
Changes in Internal Control Over Financial Reporting
During the three months ended December 31, 2022, there were no changes in our internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Report of Management on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company. Internal control over financial reporting is a process to provide reasonable assurance regarding the reliability of our financial reporting for external purposes in accordance with accounting principles generally accepted in the United States of America. Internal control over financial reporting includes maintaining records that in reasonable detail accurately and fairly reflect our transactions; providing reasonable assurance that transactions are recorded as necessary for preparation of our consolidated financial statements; providing reasonable assurance that receipts and expenditures of company assets are made in accordance with management authorization; and providing reasonable assurance that unauthorized acquisition, use or disposition of company assets that could have a material effect on our consolidated financial statements would be prevented or detected on a timely basis. Because of its inherent limitations, internal control over financial reporting is not intended to provide absolute assurance that a misstatement of our consolidated financial statements would be prevented or detected.
Management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Management has elected to exclude the internal control over financial reporting of the recently acquired majority of the Mobility & Materials business ("M&M") of DuPont de Nemours, Inc. from its assessment of internal control over financial reporting as of December 31, 2022, see Note 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial statements for further information. The excluded financial statement amounts of M&M constituted 15% of our consolidated Total assets and 4% of our consolidated Net sales as of and for the year ended December 31, 2022. Based on this evaluation, management concluded that the Company's internal control over financial reporting was effective as of December 31, 2022. The Company's independent registered public accounting firm, KPMG LLP, has issued an audit report on the effectiveness of the Company's internal control over financial reporting. Their report follows on page 60.
Item 9B.  Other Information
None.
Item 9C.  Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Not applicable.
50

Table of Contents
PART III
Item 10.  Directors, Executive Officers and Corporate Governance
The information required by this Item 10 is incorporated herein by reference from the subsections of "Governance," captioned "Item 1: Election of Directors," "Director Nominees," "Board and Committee Governance," "Additional Governance Matters" and the sections "Stock Ownership Information" and "Questions and Answers — Company Documents, Communications and Shareholder Proposals" sections of the Company's definitive proxy statement for the 2023 annual meeting of shareholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended (the "2023 Proxy Statement"). With regard to the information required by this Item regarding compliance with Section 16(a) of the Exchange Act, we will provide disclosure of delinquent Section 16(a) reports, if any, in the 2023 Proxy Statement under "Delinquent Section 16(a) Reports" and such disclosure, if any, is incorporated herein by reference. Information about executive officers of the Company is contained in Part I of this Annual Report.
Codes of Ethics
The Company has adopted a Business Conduct Policy for directors, officers and employees along with a Financial Code of Ethics for its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. These codes are available on the corporate governance portal of the Company's investor relations website at investors.celanese.com. The Company intends to satisfy the disclosure requirements under Item 5.05 of Form 8-K regarding amendments to and waivers from these codes by posting such information on the same website.
Item 11.  Executive Compensation
The information required by this Item 11 is incorporated herein by reference from the section "Governance – Director Compensation" and the subsections of "Executive Compensation" captioned "Compensation Discussion and Analysis," "Compensation Risk Assessment," "Compensation and Management Development Committee Report," "Compensation Tables," and "CEO Pay Ratio" of the 2023 Proxy Statement.
Item 12.  Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters
The information with respect to beneficial ownership and equity compensation plans required by this Item 12 is incorporated herein by reference from the subsections of "Stock Ownership Information" captioned "Principal Shareholders and Beneficial Owners" and "Securities Authorized for Issuance Under Equity Compensation Plans" in the 2023 Proxy Statement.
Item 13.  Certain Relationships and Related Transactions, and Director Independence
The information required by this Item 13 is incorporated herein by reference from the "Governance — Director Independence and Related Person Transactions" section of the 2023 Proxy Statement.
Item 14.  Principal Accounting Fees and Services
Our independent registered public accounting firm is KPMG LLP, Dallas, TX, Auditor Firm ID: 185.
The information required by this Item 14 is incorporated herein by reference from the "Audit Matters — Item 2: Ratification of Independent Registered Public Accounting Firm" section of the 2023 Proxy Statement.
51

Table of Contents
PART IV
Item 15.  Exhibits and Financial Statement Schedules
1.  Financial Statements. The report of our independent registered public accounting firm and our consolidated financial statements are listed below and begin on page 60 of this Annual Report.
Page Number
 
2.  Financial Statement Schedules.
The financial statement schedules required by this item, if any, are included as Exhibits to this Annual Report.
3.  Exhibit List.
INDEX TO EXHIBITS(1)
Exhibits will be furnished upon request for a nominal fee, limited to reasonable expenses.
Exhibit
Number
Description
2.1†
3.1
3.1(a)
3.1(b)
3.1(c)
3.2
4.1
4.2
4.3
4.4
52

Table of Contents
Exhibit
Number
Description
4.5
4.6
4.7
4.8
4.9
4.10
4.11*
10.1†
10.1(a)
10.2†
10.2(a)
10.3*†
53

Table of Contents
Exhibit
Number
Description
10.3(a)
10.4‡
10.5(a)‡
10.5(b)‡
10.5(c)‡
10.5(d)‡
10.5(e)‡
10.6‡
10.7‡
10.8(a)‡
10.8(b)‡
10.8(c)‡
10.8(d)‡
10.8(e)‡
10.8(f)‡
10.8(g)‡
10.8(h)‡
10.8(i)‡
10.8(j)‡
10.9(a)‡
54

Table of Contents
Exhibit
Number
Description
10.9(b)‡
10.9(c)‡
10.10(a)‡
10.10(b)‡
10.11(a)‡
10.11(b)‡
10.11(b).1*‡
10.12‡
10.13‡
10.13(a)‡
10.14‡
10.14(a)‡
10.14(b)‡
10.15*‡
21.1*
22.1*
23.1*
24.1*
31.1*
31.2*
32.1*
32.2*
101.INS*Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH*Inline XBRL Taxonomy Extension Schema Document.
55

Table of Contents
Exhibit
Number
Description
101.CAL*Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF*Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB*Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE*Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104The cover page from the Company's Annual Report on Form 10-K for the year ended December 31, 2022 has been formatted in Inline XBRL.
*     Filed herewith.
‡     Indicates a management contract or compensatory plan or arrangement.
(1)    The Company and its subsidiaries have in the past issued, and may in the future issue from time to time, long-term debt. The Company may not file with the applicable report copies of the instruments defining the rights of holders of long-term debt to the extent that the aggregate principal amount of the debt instruments of any one series of such debt instruments for which the instruments have not been filed has not exceeded or will not exceed 10% of the assets of the Company at any pertinent time. The Company hereby agrees to furnish a copy of any such instrument(s) to the SEC upon request.
56

Table of Contents
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CELANESE CORPORATION
By:/s/ LORI J. RYERKERK
Name:Lori J. Ryerkerk
Title:Chair of the Board of Directors, Chief Executive Officer and President
Date:February 24, 2023
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Scott A. Richardson and Aaron M. McGilvray, and each of them, his or her true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution to sign in his or her name, place and stead, in any and all capacities, to do any and all things and execute any and all instruments that any such attorney-in-fact may deem necessary or advisable under the Securities Exchange Act of 1934 and any rules, regulations and requirements of the U.S. Securities and Exchange Commission in connection with the Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and any and all amendments hereto, as fully for all intents and purposes as he or she might or could do in person, and hereby ratifies and confirms all that such said attorney-in-fact, acting alone, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
SignatureTitleDate
/s/ LORI J. RYERKERKChair of the Board of Directors,
Chief Executive Officer and President
(Principal Executive Officer)
February 24, 2023
Lori J. Ryerkerk
/s/ SCOTT A. RICHARDSONExecutive Vice President and Chief Financial Officer
(Principal Financial Officer)
February 24, 2023
Scott A. Richardson
/s/ AARON M. MCGILVRAYVice President, Finance, Controller and
Chief Accounting Officer
(Principal Accounting Officer)
February 24, 2023
Aaron M. McGilvray
/s/ JEAN S. BLACKWELLDirectorFebruary 24, 2023
Jean S. Blackwell
/s/ WILLIAM M. BROWNDirectorFebruary 24, 2023
William M. Brown
/s/ EDWARD G. GALANTEDirectorFebruary 24, 2023
Edward G. Galante
/s/ RAHUL GHAIDirectorFebruary 24, 2023
Rahul Ghai
/s/ KATHRYN M. HILLDirectorFebruary 24, 2023
Kathryn M. Hill
57

Table of Contents
SignatureTitleDate
/s/ DAVID F. HOFFMEISTERDirectorFebruary 24, 2023
David F. Hoffmeister
/s/ JAY V. IHLENFELDDirectorFebruary 24, 2023
Jay V. Ihlenfeld
/s/ DEBORAH J. KISSIREDirectorFebruary 24, 2023
Deborah J. Kissire
/s/ MICHAEL KOENIGDirectorFebruary 24, 2023
Michael Koenig
/s/ KIM K.W. RUCKERDirectorFebruary 24, 2023
Kim K.W. Rucker
58

Table of Contents
CELANESE CORPORATION AND SUBSIDIARIES
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
Page
Number