2. Contents DuPont
Investor Relations
1 DuPont Leadership Carl J. Lukach
Vice President DuPont
Investor Relations
2 2005 At a Glance
(302) 774-0001
4 Corporate Financial Data
Corporate Highlights
David L. Peet
Segment Information
Director
Consolidated Income Statements (302) 774-1125
Consolidated Balance Sheets
Consolidated Statement of Cash Flows
Selected Additional Data
Christine W. Wei
Manager
14 DuPont Core Values:
(302) 774-0017
Safety, Health, and the Environment
15 Industries, Regions, and Ingredients
Pamela R. Schools
16 DuPont Science & Technology Investor Relations
Coordinator
(302) 774-9870
18 Business Segments
Agriculture & Nutrition
Coatings & Color Technologies
Electronic & Communication Technologies
Performance Materials
Safety & Protection
Pharmaceuticals
DuPont DATA BOOK has been prepared to assist financial analysts,
39 Major Global Sites and Principal Products
portfolio managers, and others in understanding and evaluating the
company. This book presents graphics, tabular, and other statistical data
about the consolidated company and its business segments. The information
presented in this book is generally included in, or can be calculated from
information included in, previously published company reports on Forms
10K, 10Q, and 8K. Dollars are in millions except per share or where
Main Office Number: (302) 774-4994 otherwise indicated. Most notes to financial statements are not included.
This information is only a summary and should be read in conjunction with
Fax: (302) 773-2631
the company’s audited consolidated financial statements and “Management’s
Internet: www.dupont.com
Discussion and Analysis,” which is located in the 2005 Annual Review on
Form 10K filed with the Securities and Exchange Commission.
DuPont DATA BOOK is available on the Web at www.dupont.com.
The DuPont Oval Logo, DuPontTM, The miracles of science®, and all products
denoted with TM or ® are trademarks or registered trademarks of E.I. du Pont de
Nemours and Company or its affiliates.
April 2006
3. Board of Senior
Directors Leaders
Charles O. Holliday, Jr. *
Chairman of the Board and
Chief Executive Officer
Alain J. P. Belda * ††
Chairman and
Chief Executive Officer,
James C. Borel* Terry Caloghiris Thomas M. J. Erik Fyrwald
Alcoa Inc.
Connelly, Jr.*
Senior Vice President Group Vice President Group Vice President
Richard H. Brown * †† †††
DuPont Human DuPont Coatings & DuPont Agriculture
Senior Vice President
Former Chairman and
Resources Color Technologies & Nutrition
Chief Executive Officer, and Chief Science &
Electronic Data Systems Technology Officer
Curtis J. Crawford *** † ††
President and Chief Executive Officer,
XCEO, Inc.
John T. Dillon * † ††
Retired Chairman and
Chief Executive Officer,
International Paper; Vice Chairman,
Evercore Capital Partners
Richard R. Diane H. Gulyas John C. Hodgson* Charles O.
Louisa C. Duemling ** *** †††
Goodmanson* Holliday, Jr.*
Chief Marketing & Senior Vice President &
Retiring in April 2006.
Sales Officer Chief Customer Officer
Executive Vice President Chairman & Chief
Eleuthère (Thère) I. du Pont
& Chief Operating Officer Executive Officer
President, Wawa, Inc.
Lois D. Juliber * † ††
Retired Vice Chairman and
Chief Operating Officer,
Colgate-Palmolive Company
Masahisa Naitoh ** †††
Chairman and Chief Executive Officer,
The Institute of Energy Economics, Japan
Sean O’Keefe ** †
W. Donald Johnson Ellen J. Kullman Stacey J. Mobley*
Chancellor, Louisiana State University Jeffrey L. Keefer
Group Vice President Group Vice President Senior Vice President,
William K. Reilly ** *** ††† Group Vice President
DuPont Global Operations DuPont Safety Chief Administrative Officer
Founding Partner, DuPont Performance
Aqua International Partners, LP; & Protection & General Counsel
Materials
Former Administrator,
U.S. Environmental Protection Agency
H. Rodney Sharp, III *** † ††
Retiring in April 2006.
Charles M. Vest ** *** †
President Emeritus and Professor of
Mechanical Engineering,
Massachusetts Institute of Technology
Board Committees:
Craig G. Naylor Gary M. Pfeiffer* Mathieu Vrijsen
† Audit
Group Vice President Senior Vice President President
†† Compensation
DuPont Electronic & & Chief Financial Officer
††† Corporate Governance DuPont Europe, Middle East
*** Science and Technology Communication and Africa
** Environmental Policy Technologies
* Strategic Direction
*Member, Office of the Chief Executive
2005 DuPont Databook 1
4. DuPont 2005 At a Glance
During 2005, DuPont maintained its leading position in biotechnology, safety and protection, and crop yield improvement, and continued
to execute its three growth strategies while overcoming a number of operational and business challenges. The most significant of
these challenges were record-high energy costs and the aftermath of two major hurricanes, Katrina and Rita. Management took
actions to increase pricing and improve productivity to offset these cost increases. In addition, management announced acceleration
actions to increase shareholder value.
January Asia Pacific. The facility, in Shenzhen, DuPont purchased the ISCEON®
DuPont and The Dow Chemical Company China, will produce DuPont™ Bynel® and hydrofluorocarbon (HFC) refrigerant
announced that Dow elected to acquire DuPont™ Fusabond® adhesive resins. blends business from Rhodia. The ISCEON®
certain assets in DuPont Dow Elastomers range of refrigerants comprises non-ozone-
DuPont signed a research agreement
LLC (DDE) on Dec. 31, 2004. As a result, depleting blends used as a replacement
with the National Chemical Laboratory
DuPont purchased Dow’s remaining equity for ozone-depleting refrigerants in air
(NCL) in Pune, India. The first research
interest in DDE. conditioning, cold storage, domestic
projects NCL developed were for the
refrigeration and process cooling.
DuPont donated over $1 million in cash and DuPont Titanium Technologies business.
products in response to the earthquake
July
DuPont increased its equity interest in
and tsunami in the Indian Ocean.
Magellan Systems International. Magellan The DuPont site in Lerma, Mexico, received
DuPont electronic materials helped keep has been working on next generation the Clean Industry Certification from the
Mars Rovers operating one year after material in protective applications, M5®, Mexican government for its outstanding
landing on Mars. which contains the unique attributes performance and a continuous commitment
of strength, stiffness and resistance to to reducing its environmental footprint.
February high temperatures.
DuPont sites in Corpus Christi, Sabine,
The United States Customs and Border
DuPont increased its quarterly dividend LaPorte and Bayport, Texas were honored
Protection Border Patrol signed a
from $.35 to $.37 per share. for their commitment to “Caring for Texas”
multi-year agreement with DuPont to
by the Texas Chemical Council (TCC) at
outfit its agents with protective vests
May the organization’s annual meeting.
containing new DuPont™ Kevlar®
Martin Drigotas, DuPont Automotive
Comfort XLT™ technology.
August
Refrigerants manager, was awarded the
DuPont™ Sorona®, the first DuPont U.S. Environmental Protection Agency DuPont Qualicon and Applied Biosystems
polymer derived from a biological source, (EPA) Climate Protection Award as a Group announced that they will
was recognized by the China State founder of the Improved Mobile Air jointly develop and market new BAX®
Intellectual Property Office as the “Most Conditioning Cooperative Research system applications for the food industry.
Visionary Innovation.” Program (IMAC). Innovations in DNA technology from
Applied Biosystems will provide additional
DuPont served as the premier sponsor of DuPont and the Republic of Korea signed
capabilities, strain discrimination and other
the XVII “World Congress on Safety and an agreement to build a $12 million
benefits of great value to the food industry.
Health at Work.” nonwovens market development
manufacturing facility in the province of DuPont donated Personal Protection
March Gyeong-gi, near Seoul. products to agencies supporting
Fortune magazine named DuPont #37 on Hurricane Katrina relief and recovery
DuPont contributed another $25 million to
the 2005 Global Most Admired Companies efforts in Mississippi, Louisiana and
continue funding the DuPont MIT
All Star list. Alabama. DuPont Personal Protection
Alliance (DMA) through 2010. DMA is a
products contain Kevlar®, Nomex® and
DuPont Aichi Coatings Laboratory research program focused on creating
Tyvek® high performance materials;
celebrated groundbreaking in Japan. This innovative, next-generation materials.
Virkon® S disinfectant; RelyOn™ disinfec-
laboratory services the growing coatings
tant wipes; and Solae® energy bars and
June
business with Japanese automakers and
soy beverages.
facilitates customer approvals of tech- DuPont Senior Vice President and Chief
nologies and colors for use worldwide. Science & Technology Officer Thomas M. DuPont celebrated the opening of a new
Connelly, Jr. was presented the 2005 solid surfaces manufacturing site in
April “Award for Executive Excellence” as part Guangzhou, China.
DuPont Packaging & Industrial Polymers of the Chemical Heritage Foundation
opened its first copolymer operation in “Heritage Day 2005” ceremonies.
2
5. Photos: (Far left) DuPont received
its 7 millionth U.S. patent on an
industrial biotechnology process.
(Middle) Latin-American farmers
increase crop yield with the help of
DuPont. (Left) DuPont™ Building
Innovations™ provides environmen-
tally sustainable building solutions.
Stephanie Kwolek, inventor of DuPont™ DuPont was honored with the Working ranked DuPont number 24 among all
Kevlar®, was inducted into the National Mother Award and inducted into the companies in the category “World,
Women’s Hall of Fame. Working Mother Hall of Fame. Community Commitment.”
DuPont acquired 100 percent ownership DuPont announced that it is taking
December
of DuPont Authentication Systems (DAS) actions to repatriate approximately $9.4
DuPont placed first on BusinessWeek’s
from Keystone Technologies, LLC. DAS billion of cash under the American Jobs
ranking of “The Top Green Companies.”
provides customers with complete overt, Creation Act before year-end.
covert and forensic brand authentication DuPont announced that it has selected
DuPont initiated a series of actions to
and security systems built around its Izon™ Singapore for expected investment in two
increase shareholder value and accelerate
deep, three-dimensional photopolymer- growth businesses—DuPont™ Zytel®
its growth and productivity strategies,
based labels. HTN high-performance polyamide and
including Capital Deployment,
DuPont™ Vespel® parts and shapes.
DuPont and Tate & Lyle formed a joint Productivity Advancement and Growth
venture to invest $100 million and build a Acceleration, including a $5 billion
U.S. Gulf Coast Hurricanes
large-scale aerobic fermentation plant in Share Repurchase program.
The company has 14 manufacturing
Loudon, Tennessee to produce DuPont’s
DuPont accelerated efforts to supply plants located in the U.S. Gulf Coast
first bio-based material, Bio-PDO™.
DuPont™ Virkon® S veterinary disinfectant region that were affected by hurricanes
to help prevent avian flu from spreading. Katrina & Rita in 2005. Ten plants had
September
minimal damage and resumed operations
DuPont™ Kevlar® marked its 40th anniver-
November quickly. Four plants, two in Mississippi
sary with a host of new and emerging
Mohawk Industries, Inc. announced a and two in Texas, experienced serious
innovations, from an in-home storm
new line of residential carpet to the damage to electrical systems, instrument
shelter that helps provide protection from
flooring industry—SmartStrand™ with controls and computer-based electronic
hurricanes and tornadoes, to emerging
DuPont™ Sorona® bio-based polymer. process control systems. All sites had
ultra-strong protective applications to
resumed operations by the end of the
support the “soldier of the future.” DuPont signed an agreement for the
first quarter 2006.
construction of its titanium dioxide plant
DuPont was selected as a member of the
in Dongying city’s Economic Development Charges of $160 million were recorded in
2006 Dow Jones Sustainability Index.
Zone, China. 2005 for cleanup, repair, lost inventories
DuPont has been a member since the
and other hurricane-related costs.
index was launched in 1999. Ellen Kullman, group vice president,
DuPont Safety & Protection, was named Following the hurricanes, DuPont declared
DuPont made a $1 billion voluntary
to Fortune magazine’s annual list of the “force majeure” for several product lines
contribution to its principal U.S. Pension
50 Most Powerful Women in Business. of the Coatings and Color Technologies,
and Retirement Plan.
Safety and Protection and Performance
Herculex® XTRA Double-Stack Insect
DuPont announced its intention to Materials segments manufactured at four
Protection was approved by the United
raise prices further for all products in of the impacted sites. Sales lost because
States Environmental Protection Agency
light of rapidly increasing costs for of these hurricanes were estimated to be
(EPA), following the recent registration of
energy and feedstocks. $350 million in 2005.
Herculex® RW by EPA.
DuPont managed through the hurricanes
October DuPont Corporate Economist Bob Shrouds
while ensuring all employees were safe and
Du Pont China Holding Company hosted an and Senior Associate Economist Robert
all sites remained environmentally secure.
opening for DuPont (Shenzhen) Industrial Fry received the 2005 Lawrence R. Klein
Co. Ltd. in Shenzhen Futian Free Trade Award for Blue Chip Forecast Accuracy. DuPont donated over $1.3 million in cash
Zone. The opening marked the production and products, and our employees another
The 2005 Financial Times
startup of two new facilities—DuPont $300,000, to support community relief and
PricewaterhouseCoopers’ “World’s
Display Enhancements and DuPont Liquid recovery efforts.
Most Respected Companies” survey
Packaging Systems.
2005 DuPont Databook 3
6. Corporate Financial Data
Corporate Highlights
(dollars in millions, except per share)
2005 2004
Operating Results Net sales $26,639 $27,340
Income 1 2,053 1,780
Net income (loss) 2,053 1,780
Income before significant items 1 2,329 2,393
Depreciation 1,128 1,124
EBIT 3,876 1,687
EBITDA 5,201 3,000
Cash provided by operating activities 2,542 3,231
Capital expenditures 1,406 1,298
Research and development expense 5 1,336 1,333
Financial Position, Total assets $33,250 $35,632
Year End Working capital 4,959 7,272
Total debt 8,180 6,485-6
Stockholders’ equity 8,907 11,377
Data Per Common Share Income 1, 7 $2.07 $1.77
Net income (loss) 7 $2.07 $1.77
Income before significant items 1, 7 $2.34 $2.38
Dividends $1.46 $1.40
Market price – year-end close $42.50 $49.05
high-low range $54.90 – $37.60 $49.39 – $39.88
Book value at year-end $9.43 $11.20
Average number of shares (millions) – diluted 989 1,003
Shares outstanding – year-end (millions) 920 994
Ratios Total stockholder return (10.4)% 9.9%
Dividend yield 8 3.4% 2.9%
Share price (decrease) increase (13.4)% 6.9%
P/E on income before significant items 1, 8 18 21
Dividend payout, as percentage of earnings per share
before significant items 1 62.4% 58.8%
Return on average stockholders’ equity before significant items 1 20.6% 23.0%
Return on average investors’ capital before significant items 1 12.7% 12.3%
Asset Turnover Ratio 80% 77%
Cash provided by operating activities as percentage of total debt 6 31.1% 49.8%
Debt to total capital 6 46.5% 34.2%
Interest coverage ratio 10 11.1 11.5
Current ratio 6 1.7 1.9
Exchange Loss – net of tax $ (38) $ (51)
Employees Number of employees – year-end (thousands) 60 60
1 Before cumulative effect of changes in accounting principles. 6 Includes related assets and/or liabilities classified as held for sale within the
2 Includes a cumulative effect of a change in accounting principle charge of $29 and Consolidated Balance Sheet.
$0.03 per share (diluted). 7 Diluted, based on average number of common shares.
3 Includes a cumulative effect of a change in accounting principle charge of $2,944 and 8 Based on year-end share price.
$2.95 per share (diluted). 9 Ratio excludes increase in tax payments related to sale of DuPont Pharmaceuticals.
4 Includes a cumulative effect of a change in accounting principle benefit of $11 and 10 Income before significant items and income taxes, plus the sum of interest expense
$.01 per share (diluted). and amortization of capitalized interest less interest income, divided by the sum of
5 Excludes purchased in-process research and development. interest expense and capitalized interest less interest income.
Use of Non-GAAP Measures
Management believes that measures of earnings before significant items (“non-GAAP” information) are meaningful to investors because they
provide insight with respect to ongoing operating results of the company. Significant items represent significant charges or credits that are
important to an understanding of the company’s ongoing operations. The use of other non-GAAP financial measures includes Earnings
before Interest, Income Taxes and Minority Interests (“EBIT”), as defined by the company, and Earnings before Interest, Income Taxes,
Minority Interests, Depreciation and Amortization (“EBITDA”), which are intended to help investors to better evaluate the financial results of
the company. Certain non-GAAP measures have been adjusted to best reflect the on-going performance of the company and are identified in
the reconciliations. Such measures are not recognized in accordance with generally accepted accounting principles in the United States of
America (GAAP) and should not be viewed as an alternative to GAAP measures of performance. A reconciliation of non-GAAP measures to
GAAP is provided on the Web at www.dupont.com. For complete details of significant items, see DuPont’s quarterly earnings news releases.
4
8. Corporate Financial Data
Segment Information
(dollars in millions)
2005 2004 2003
Segment Sales 1
Agriculture & Nutrition $ 6,394 $ 6,244 $ 5,468
Coatings & Color Technologies 6,234 6,028 5,503
Electronic & Communication Technologies 3,506 3,279 2,892
Performance Materials 4 6,750 6,633 5,376
Safety & Protection 5,230 4,696 4,077
Textiles & Interiors 5 N/A 3,250 6,937
Other 52 44 15
Total segment sales 28,166 30,174 30,268
Elimination of transfers (294) (553) (940)
Elimination of equity affiliate sales (1,233) (2,281) (2,332)
Net sales $26,639 $27,340 $26,996
Segment Pretax Operating Income – Before Significant Items
Agriculture & Nutrition $ 862 $ 803 $ 607
Coatings & Color Technologies 677 814 731
Electronic & Communication Technologies 484 367 181
Performance Materials 531 630 410
Pharmaceuticals 751 681 548
Safety & Protection 1,002 907 805
Textiles & Interiors N/A 142 (1)
Other (117) (139) (143)
Total segment pretax operating income – before significant items 4,190 4,205 3,138
Exchange gains and losses 445 (411) (220)
Corporate expenses and interest (1,049) (932) (930)
Income before significant items, income taxes, and minority interests 2 3,586 2,862 1,988
Net significant items 3 (28) (1,420) (1,845)
Income before income taxes and minority interests 2 $ 3,558 $ 1,442 $ 143
1 Sales include transfers and pro rata share of equity affiliate sales.
2 Before cumulative effect of changes in accounting principles.
3 For complete details of significant items, see DuPont’s quarterly earnings news releases.
4 Performance Materials 2004 sales include the benefit from the consolidation of DuPont Dow Elastomers (DDE) in April 2004.
5 Textiles & Interiors 2004 sales reflect the divestiture of INVISTA in April 2004.
DuPont’s Share of DuPont’s Share of
Equity Affiliate Sales Equity Affiliate Earnings
2005 2004 2003 2005 2004 2003
Equity Affiliate Analysis
Agriculture & Nutrition $ 76 $ 79 $ 152 $ (2) $ (4) $ (7)
Coatings & Color Technologies 27 46 71 1 3 3
Electronic & Communication Technologies 251 284 233 37 29 8
Performance Materials 794 876 1,143 29 (100)-1 9
Safety & Protection 85 64 58 17 13 14
Textiles & Interiors N/A 932 675 N/A 71 (277)-2
Other – – – 9 (2) –
Total segments $1,233 $2,281 $2,332 $ 91 $ 10 $ (250)
1 Includes a charge of $150 for antitrust litigation matters associated with DuPont Dow Elastomers LLC which was accounted for as an equity affiliate until April 30, 2004.
2 Includes impairment charge of $293 in connection with the planned separation of INVISTA.
6
9. 2005 2004
1st 2nd 3rd 4th Full Yr. 1st 2nd 3rd 4th Full Yr.
Segment Sales 1
Agriculture & Nutrition $ 2,356 $2,102 $ 997 $ 939 $ 6,394 $ 2,201 $ 2,076 $ 969 $ 998 $ 6,244
Coatings & Color Technologies 1,536 1,640 1,545 1,513 6,234 1,417 1,560 1,476 1,575 6,028
Electronic & Communication Technologies 854 933 875 844 3,506 816 845 815 803 3,279
Performance Materials 1,785 1,836 1,539 1,590 6,750 1,519 1,703 1,672 1,739 6,633
Safety & Protection 1,282 1,388 1,268 1,292 5,230 1,089 1,169 1,185 1,253 4,696
Textiles & Interiors N/A N/A N/A N/A N/A 1,883 826 286 255 3,250
Other 12 13 14 13 52 12 13 12 7 44
Total segment sales $ 7,825 $7,912 $6,238 $6,191 $28,166 $ 8,937 $ 8,192 $ 6,415 $ 6,630 $30,174
Segment Pretax
Operating Income – Before Significant Items
Agriculture & Nutrition $ 757 $ 511 $ (134) $ (272) $862 $ 631 $ 482 $ (183) $ (127) $ 803
Coatings & Color Technologies 166 194 155 162 677 189 214 179 232 814
Electronic & Communication Technologies 105 163 129 87 484 92 87 97 91 367
Performance Materials 211 187 79 54 531 156 171 160 143 630
Pharmaceuticals 159 192 197 203 751 148 174 173 186 681
Safety & Protection 231 283 278 210 1,002 231 234 216 226 907
Textiles & Interiors N/A N/A N/A N/A N/A 150 15 (14) (9) 142
Other (21) (32) (13) (51) (117) (33) (48) (25) (33) (139)
Total segment pretax operating
income – before significant items 1,608 1,498 691 393 4,190 1,564 1,329 603 709 4,205
Exchange gains and losses 111 183 71 80 445 (13) (76) (22) (300) (411)
Corporate expenses and interest (225) (240) (266) (318) (1,049) (213) (229) (226) (264) (932)
Income before significant items 2 1,494 1,441 496 155 3,586 1,338 1,024 355 145 2,862
Pretax Impact of Significant Items 2
Textiles & Interiors – related items – 39 – – 39 (345) (183) (102) (37) (667)
DDE – related items – 3 – – 3 – – – (118) (118)
Employee separation activities
and asset impairment charges – – – – – – (433) – 22 (411)
Hurricane losses – – (146) – (146) – – – – –
Sale of Photomasks stock – 48 – – 48 – – – – –
Litigation costs – – – – – (186) (45) (63) 20 (274)
Other – 28 – – 28 – – 35 15 50
Net impact of significant items 0 118 (146) 0 (28) (531) (661) (130) (98) (1,420)
Income before income taxes and
minority interests $ 1,494 $ 1,559 $ 350 $ 155 $ 3,558 $ 807 $ 363 $ 225 $ 47 $ 1,442
2005 2004
1st 2nd 3rd 4th Full Yr. 1st 2nd 3rd 4th Full Yr.
Earnings Per Share of
Common Stock – Diluted 3
Income before significant items $ 0.96 $ 0.90 $ 0.33 $ 0.13 $ 2.34 $ 0.96 $ 0.80 $ 0.25 $ 0.37 $ 2.38
Significant items 0.00 0.11 (0.42) 0.03 (0.27) (0.30) (0.30) 0.08 (0.09) (0.61)
Income (loss) $ 0.96 $ 1.01 $ (0.09) $ 0.16 $ 2.07 $ 0.66 $ 0.50 $ 0.33 $ 0.28 $ 1.77
1 Sales include transfers and pro rata share of equity affiliate sales.
2 For complete details of significant items, see DuPont’s quarterly earnings news releases.
3 Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations.
2005 DuPont Databook 7
10. Corporate Financial Data
Consolidated Income Statements
(dollars in millions, except per share)
For the year ended December 31 2005 2004 2003 2002 2001
Net sales $26,639 $27,340 $26,996 $24,006 $24,726
Other income, net 1 1,852 655 734 516 644
Total 28,491 27,995 27,730 24,522 25,370
Cost of goods sold and other operating charges 19,701 20,416 20,759 17,529 17,980
Selling, general and administrative expenses 3,223 3,141 3,067 2,763 2,992
Amortization of intangible assets 230 223 229 218 434
Research and development expense 1,336 1,333 1,349 1,264 1,588
Interest expense 518 362 347 359 590
Employee separation activities and asset impairment
charges (credits) (13) 411 (17) 290 1,078
Separation activities – Textiles & Interiors (62) 667 1,620 – –
Goodwill impairment – Textiles & Interiors – – 295 – –
Gain on sale of interest by subsidiary – nonoperating – – (62) – –
Gain on sale of DuPont Pharmaceuticals – – – (25) (6,136)
Total 24,933 26,553 27,587 22,398 18,526
Income before income taxes and minority interests 3,588 1,442 143 2,124 6,844
Provision for (benefit from) income taxes 1,468 (329) (930) 185 2,467
Minority interests in earnings (losses) of
consolidated subsidiaries 37 (9) 71 98 49
Income before cumulative effect of changes in
accounting principles 2,053 1,780 1,002 1,841 4,328
Cumulative effect of changes in accounting principles,
net of income taxes – – (29) (2,944) 11
Net income (loss) $ 2,053 $ 1,780 $ 973 $ (1,103) $ 4,339
Diluted earnings (loss) per share of common stock
Income before cumulative effect of
changes in accounting principles $ 2.07 $ 1.77 $ 0.99 $ 1.84 $ 4.15
Cumulative effect of changes in accounting principles – – (0.03) (2.95) .01
Net income (loss) $ 2.07 $ 1.77 $ 0.96 $ (1.11) $ 4.16
1 Other income, net:
Cozaar®/Hyzaar® income $ 747 $ 675 $ 573 $ 469 $ 321
Royalty income 130 151 141 128 155
Interest income, net of miscellaneous interest expense 244 188 70 97 146
Equity in (losses) earnings of affiliates 108 (39) 10 36 (43)
Net gains on sales of assets 82 28 17 30 47
Net exchange gains (losses)* 423 (391) (134) (294) (29)
Miscellaneous income and expenses – net 118 43 57 50 47
Total Other income, net $ 1,852 $ 655 $ 734 $ 516 $ 644
* 2005 includes net pretax exchange gains of $423; 2004 and 2003 include net pretax exchange losses of $391 and $164, respectively, which resulted from hedging an increased net monetary
asset position and a weakening U.S. dollar. These pretax gains and losses are largely offset by associated tax benefits. See pages 4 and 5 for Exchange Loss, net of tax.
8
11. Consolidated Balance Sheets
(dollars in millions)
December 31 2005 2004 2003 2002 2001
Assets
Current assets
Cash and cash equivalents $ 1,736 $ 3,369 $ 3,273 $ 3,678 $ 5,763
Marketable debt securities 115 167 25 465 85
Accounts and notes receivable, net 4,801 4,889 4,218 3,884 3,903
Inventories 4,743 4,489 4,107 4,409 4,215
Prepaid expenses 199 209 208 175 217
Income taxes 828 1,557 1,141 848 618
Assets held for sale – 531 5,490 – –
Total current assets 12,422 15,211 18,462 13,459 14,801
Property, plant and equipment 24,963 23,978 24,149 33,732 33,778
Less: Accumulated depreciation 14,654 13,754 14,257 20,446 20,491
Net property, plant and equipment 10,309 10,224 9,892 13,286 13,287
Goodwill 2,087 2,082 1,939 1,167 3,746
Other intangible assets 2,684 2,848 2,986 3,109 3,151
Investment in affiliates 844 1,034 1,304 2,047 2,045
Other assets 4,904 4,233 2,456 1,553 3,289
Total $33,250 $35,632 $37,039 $34,621 $40,319
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable $ 2,819 $ 2,661 $ 2,341 $ 2,636 $ 2,176
Short-term borrowings and capital lease obligations 1,397 936 5,914 1,185 1,464
Income taxes 280 192 60 47 1,295
Other accrued liabilities 2,967 4,054 3,034 3,228 3,132
Liabilities held for sale – 96 1,694 – –
Total current liabilities 7,463 7,939 13,043 7,096 8,067
Long-term borrowings and capital lease obligations 6,783 5,548 4,301 5,647 5,350
Other liabilities 8,441 8,692 8,909 9,829 8,447
Deferred income taxes 1,166 966 508 563 1,579
Total liabilities 23,853 23,145 26,761 23,135 23,443
Minority interests 490 1,110 497 2,423 2,424
Stockholders’ equity 8,907 11,377 9,781 9,063 14,452
Total $33,250 $35,632 $37,039 $34,621 $40,319
2005 DuPont Databook 9
12. Corporate Financial Data
Consolidated Statements of Cash Flows
(dollars in millions)
For the year ended December 31 2005 2004 2003 2002 2001
Operating activities
Net income (loss) $ 2,053 $1,780 $ 973 $(1,103) $4,339
Adjustments to reconcile net income (loss) to cash
provided by operating activities:
Cumulative effect of changes in accounting principles – – 29 2,944 (11)
Depreciation 1,128 1,124 1,355 1,297 1,320
Amortization of intangible assets 230 223 229 218 434
Separation activitites – Textiles & Interiors (62) 667 1,620 – –
Goodwill impairment – Textiles & Interiors – – 295 – –
Contributions to pension plans (1,253) (709) (460) (172) (171)
Gain on sale of DuPont Pharmaceuticals – – – (25) (6,136)
Other operating activities – net (388) 774 334 833 1,000
(Increase) decrease in operating assets:
Accounts and notes receivable (74) (309) (852) 468 435
Inventories and other operating assets 203 569 335 (304) (191)
Increase (decrease) in operating liabilities:
Accounts payable and other operating liabilities (408) (28) (51) (158) (408)
Accrued interest and income taxes 1,113 (860) (1,218) (1,559) 1,843
Cash provided by operating activities 2,542 3,231 2,589 2,439 2,454
Investing activities
Purchases of property, plant and equipment (1,340) (1,232) (1,713) (1,280) (1,494)
Investments in affiliates (66) (66) (71) (136) (140)
Payments for businesses net of cash acquired (206) (119) (1,527) (697) (78)
Proceeds from sale of assets, net of cash sold 312 3,908 17 74 8,051
Purchase of beneficial interest in securitized trade receivables – – (445) – –
Maturity/repayment of beneficial interest
in securitized trade receivables – – 445 – –
Net decrease (increase) in short-term financial instruments 36 (137) 458 (318) (2)
Forward exchange contract settlements 653 (509) (631) (264) 93
Other investing activities – net 9 91 92 29 (117)
Cash (used for) provided by investing activities (602) 1,936 (3,375) (2,592) 6,313
Financing activities
Dividends paid to stockholders (1,439) (1,404) (1,407) (1,401) (1,460)
Net (decrease) increase in short-term
(less than 90 days) borrowings (494) (3,853) 3,792 607 (1,588)
Long-term and other borrowings:
Receipts 4,311 1,601 553 934 904
Payments (2,045) (1,555) (954) (1,822) (2,342)
Acquisition of treasury stock (3,530) (457) – (470) (1,818)
Proceeds from exercise of stock options 359 197 52 34 153
Increase in minority interests – – – – 1,980
Redemption of minority interest structures – – (2,037) – –
Other financing activities – net (13) (79) 32 – –
Cash (used for) provided by financing activities (2,851) (5,550) 31 (2,118) (4,171)
Net cash flow from discontinued operations 1 – – – – (110)
Effect of exchange rate changes on cash (722) 404 425 186 (263)
(Decrease) increase in cash and cash equivalents $(1,633) $ 21 $ (330) $(2,085) $4,223
Cash and cash equivalents at beginning of year 3,369 3,348 3,678 5,763 1,540
Cash and cash equivalents at end of year $ 1,736 $3,369 $3,348-2 $ 3,678 $5,763
Supplemental cash flow information:
Cash paid during the year for
Interest, net of amounts capitalized $ 496 $ 366 $ 357 $ 402 $ 641
Taxes 355 521 278 1,691 456
1 Includes payments of direct expenses related to the Conoco divestiture.
2 Includes cash classified as assets held for sale within the Consolidated Balance Sheet.
10
13. Selected Additional Data
2005 2004 2003 2002 2001
Effective Income Tax Rate
Statutory U.S. federal income tax rate 35.0% 35.0% 35.0% 35.0% 35.0%
Exchange gains/losses 1 9.4 (14.9) (85.5) (5.6) 0.2
The American Jobs Creation Act (AJCA) 2 8.2 – – – –
Lower effective tax rates on international operations – net (7.5) (20.8) (149.3) (13.8) (1.0)
Domestic operations (1.4) 1.2 (49.2) (1.7) 1.0
Tax settlements (1.4) (9.5) – – –
Lower effective tax rate on export sales (1.0) (3.3) (23.8) (2.2) (0.6)
DDE Litigation – 5.2 – – –
Separation charges – Textiles & Interiors – (6.2) 83.8 – –
Tax basis investment losses on foreign subsidiaries 3 – (9.5) (467.5) – –
State taxes – – 6.2 (0.7) 1.4
Postemployment costs – – – (2.3) –
Effective income tax rate 41.3% (22.8)% (650.3)% 8.7% 36.0%
1 Principally reflects the benefit of non-taxable exchange gains resulting from remeasurement of foreign currency denominated monetary assets and liabilities.
2 Reflects the tax impact with the repatriation of $9.1 billion under AJCA.
3 Reflects recording deferred tax assets in two European subsidiaries for tax basis investment losses to be recognized on local tax returns.
2005 2004 2003 2002 2001
As a percentage of net sales:
Cost of goods sold and other operating charges 74% 75% 77% 73% 73%
Selling, general and administrative expenses 12 11 11 12 12
Research and development expenses 5 5 5 5 6
Income before significant items 9 9 6 8 5
Cash provided by operating activities 10 12 10 10 10
Selected Additional Data
Annual percent change in net sales versus prior year* 5% 11% 9% 1% (10)%
Portion due to U.S. dollar selling prices 6 5 4 (3) (2)
Portion due to volume and mix* (1) 6 5 4 (8)
Average manufacturing capacity utilization 82% 84% 80% 81% 78%
* Percentage changes are calculated using sales adjusted to exclude current-year sales from acquisitions when there are no comparable prior-year sales, and to exclude prior-year sales
of businesses that have been divested. Percentage changes in 2004 and 2005 are adjusted for changes in ownership of DuPont Dow Elastomers LLC.
2005 DuPont Databook 11
14. Corporate Financial Data
Selected Additional Data
(dollars in millions, except per share)
2005 2004 2003
Financial Results by Quarter
Net sales
1st $ 7,431 $ 8,073 $ 7,008
2nd 7,511 7,527 7,369
3rd 5,870 5,740 6,142
4th 5,827 6,000 6,477
Total $26,639 $27,340 $26,996
Income before significant items 1
1st $ 967 $ 964 $ 615
2nd 904 805 623
3rd 333 253 135
4th 125 371 296
Total $ 2,329 $ 2,393 $ 1,669
Earnings before significant items per share of common stock – diluted 1, 2
1st $ 0.96 $ 0.96 $ 0.61
2nd 0.90 0.80 0.62
3rd 0.33 0.25 0.13
4th 0.13 0.37 0.29
Total $ 2.34 $ 2.38 $ 1.66
Fixed cost as a percentage of sales
1st 40.0% 41.9% 44.3%
2nd 40.5% 42.2% 44.8%
3rd 48.9% 48.9% 53.2%
4th 51.2% 48.9% 51.0%
Total 44.6% 45.2% 48.0%
1 Before cumulative effect of changes in accounting principles.
2 Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations.
Base Income Tax Rate
2005 2004 2003
Full Year 23.5% 25.0% 21.0%
Net Sales Outside the United States as a Percentage of Sales
2005 2004 2003
Agriculture & Nutrition 55% 55% 53%
Coatings & Color Technologies 69 68 66
Electronic & Communication Technologies 63 64 58
Performance Materials 60 59 58
Safety & Protection 42 40 39
Textiles & Interiors N/A 57 55
Total 58% 57% 55%
Exports from the United States
2005 2004 2003
Net sales (dollars in millions) $6,575 $6,393 $5,226
As a percentage of net sales 25% 23% 19%
12
15. Selected Additional Data
Price and Volume* Change Summary
DuPont Sales Volume – Worldwide DuPont Local Selling Prices – Worldwide
8 106
12
10 110
6 104
8
6 4 102
105
4
2 101
2
0 100
0 100
-2
-2 99
-4
95
-6
-4 98
-8
-6 97
-10 90
2001 2002 2003 2004 2005
2001 2002 2003 2004 2005
Yr/Yr % Change (Left) Index 4qma (1999=100 Right)
Yr/Yr % Change (Left) Index 4qma (1999=100 Right)
Sales Volume % Change 2005 Sales Volume % Selling Price % Change 2005 Selling Price %
from Prior Year* Change from Prior Year from Prior Year Change from Prior Year
Year Worldwide Qtr Worldwide
Year Worldwide Qtr Worldwide USD Local USD Local
2001 (8) 1st 2 2001 (2) 0 1st 7 5
2002 6 2nd – 2002 (2) (3) 2nd 8 6
2003 4 3rd (1) 2003 5 0 3rd 6 4
2004 6 4th (4) 2004 5 2 4th 4 5
2005 (1) Year (1) 2005 6 5 Year 6 5
* Price and volume changes are as a percentage of net sales excluding Textiles & Interiors. Volume percentage changes are calculated using sales adjusted to exclude current-year sales
from acquisitions when there are no comparable prior-year sales and to exclude prior-year sales of businesses that have been divested.
Local Price and Variable Costs Impact –
year over year on an after tax basis
(dollars in millions) 2005 2004
1st 2nd 3rd 4th 1st 2nd 3rd 4th
Local price 245 310 155 205 35 45 115 190
Variable costs (190) (200) (120) (275) (110) (90) (95) (110)
Net impact on income 55 110 35 (70) (75) (45) 20 80
2005 DuPont Databook 13
16. DuPont Core Values: Safety, Health, and the Environment
Throughout its history, DuPont has been guided Major Safety, Health and Environmental Incidents
by a well-defined set of core values that have
20
remained constant as DuPont grew from its
origins as an explosives company to the global
science company it is today. Safety and health,
15
environmental stewardship, high ethical standards,
and respect for people remain the values of
DuPont. They are practiced everywhere the
10
company does business. All our operations
around the world are held to the same standards.
We summarize here our progress on major safety,
5
health and environmental incidents, and global
greenhouse emissions. Detailed economic,
environmental, and social performance data
0
is available in the Global Reporting Initiative
format, on the Social Commitment page of 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
www.dupont.com.
A major safety, health and environmental incident is a significant fire, environmental,
process, or transportation incident.
Global Greenhouse Gas Emissions
100
80
60
40
20
0
1996 1997 1998 1999 2000 2001 2002 2003 2004
All years adjusted to reflect Invista divestiture. Data indicate a 60% reduction of greenhouse gases
(Kyoto basis) since 1990. Inclusive of Invista, DuPont achieved a 72% reduction below the 1990 baseline.
Six Sigma Six Sigma Focus
2005 was the sixth full year of implementation of Projects
DuPont Six Sigma across the company. We are
43% 57%
seeing the impact of our efforts in both the
growing number of employees trained and in the Manufacturing Operations Improvements
financial results from projects in all businesses, Transactional Processes/Top Line Growth
regions, and functions. We have trained over
20,000 employees as either Master Black Belts, Benefits
Black Belts, or Green Belts. Projects completed in
74% 26%
2005 alone have delivered over $900 million in
pretax annualized benefits. In 2005, we continued Reduced Costs
expanding Six Sigma projects to improve enterprise Opportunities for Increased Revenue
wide end-to-end processes such as supply chain.
14
