DuPont de Nemours Inc., adjustment to net income attributable to DuPont

US$ in millions

12 months ended:	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Net income attributable to DuPont (as reported)	498)	3,844)	1,460)	4,318)	7,685)
Add: Unrealized gains (losses) on investments	67)	(67)	(46)	(4)	(94)
Net income attributable to DuPont (adjusted)	565)	3,777)	1,414)	4,314)	7,591)

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DuPont de Nemours Inc., adjusted profitability ratios

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Net Profit Margin
Reported net profit margin	2.31%	4.47%	2.34%	8.97%	15.76%
Adjusted net profit margin	2.63%	4.39%	2.26%	8.96%	15.56%
Return on Equity (ROE)
Reported ROE	1.22%	4.06%	1.46%	16.62%	30.29%
Adjusted ROE	1.38%	3.99%	1.41%	16.60%	29.92%
Return on Assets (ROA)
Reported ROA	0.72%	2.04%	0.76%	5.43%	11.30%
Adjusted ROA	0.81%	2.01%	0.74%	5.43%	11.16%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	DuPont de Nemours Inc. adjusted net profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	DuPont de Nemours Inc. adjusted ROE improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	DuPont de Nemours Inc. adjusted ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

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	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to DuPont	498)	3,844)	1,460)	4,318)	7,685)
Net sales	21,512)	85,977)	62,484)	48,158)	48,778)
Profitability Ratio
Net profit margin¹	2.31%	4.47%	2.34%	8.97%	15.76%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to DuPont	565)	3,777)	1,414)	4,314)	7,591)
Net sales	21,512)	85,977)	62,484)	48,158)	48,778)
Profitability Ratio
Adjusted net profit margin²	2.63%	4.39%	2.26%	8.96%	15.56%

2019 Calculations

¹ Net profit margin = 100 × Net income attributable to DuPont ÷ Net sales
= 100 × 498 ÷ 21,512 = 2.31%

² Adjusted net profit margin = 100 × Adjusted net income attributable to DuPont ÷ Net sales
= 100 × 565 ÷ 21,512 = 2.63%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	DuPont de Nemours Inc. adjusted net profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to DuPont	498)	3,844)	1,460)	4,318)	7,685)
Total DuPont stockholders’ equity	40,987)	94,571)	100,330)	25,987)	25,374)
Profitability Ratio
ROE¹	1.22%	4.06%	1.46%	16.62%	30.29%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to DuPont	565)	3,777)	1,414)	4,314)	7,591)
Total DuPont stockholders’ equity	40,987)	94,571)	100,330)	25,987)	25,374)
Profitability Ratio
Adjusted ROE²	1.38%	3.99%	1.41%	16.60%	29.92%

2019 Calculations

¹ ROE = 100 × Net income attributable to DuPont ÷ Total DuPont stockholders’ equity
= 100 × 498 ÷ 40,987 = 1.22%

² Adjusted ROE = 100 × Adjusted net income attributable to DuPont ÷ Total DuPont stockholders’ equity
= 100 × 565 ÷ 40,987 = 1.38%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	DuPont de Nemours Inc. adjusted ROE improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to DuPont	498)	3,844)	1,460)	4,318)	7,685)
Total assets	69,396)	188,030)	192,164)	79,511)	68,026)
Profitability Ratio
ROA¹	0.72%	2.04%	0.76%	5.43%	11.30%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to DuPont	565)	3,777)	1,414)	4,314)	7,591)
Total assets	69,396)	188,030)	192,164)	79,511)	68,026)
Profitability Ratio
Adjusted ROA²	0.81%	2.01%	0.74%	5.43%	11.16%

2019 Calculations

¹ ROA = 100 × Net income attributable to DuPont ÷ Total assets
= 100 × 498 ÷ 69,396 = 0.72%

² Adjusted ROA = 100 × Adjusted net income attributable to DuPont ÷ Total assets
= 100 × 565 ÷ 69,396 = 0.81%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	DuPont de Nemours Inc. adjusted ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

DuPont de Nemours Inc. (NYSE:DD)

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