The acquisition of Spectrum Plastics Group for approximately $1.79 billion expands DuPont's presence in specialty medical devices, a high-growth area within the Electronics & Industrial segment.

The sale of the Delrin business to TJC LP was completed for approximately $1.28 billion, including a note receivable and equity interest, further focusing DuPont's portfolio on core areas.

The Board of Directors approved a new $1 billion share repurchase program, demonstrating a commitment to returning capital to shareholders following recent divestitures.

DuPont implemented a restructuring program targeting near-term cost reductions and simplification of organizational structures, indicating proactive management in response to market conditions.

The company experienced continued demand declines in consumer-facing markets, channel inventory destocking and slower industrial demand in China. Prices are driven by global supply and demand. In recent years, raw material prices and availability have been affected by worldwide economic conditions, including supply chain disruptions and inflationary cost pressures.

The company emphasizes cybersecurity training for employees and maintains a Cybersecurity Incident Review Committee, reflecting a commitment to data protection and risk management.

DuPont acknowledges the risk of incurring additional tax liabilities if certain internal transactions related to the M&M Divestitures and the N&B Transaction fail to qualify for their intended tax treatment.

DuPont is subject to continuing contingent tax-related liabilities of Dow and Corteva following the separations and DWDP Distributions.

If Dow or Corteva are unable to pay any prior period taxes for which it is responsible, however, DuPont could be required to pay the entire amount of such taxes, and such amounts could be significant.

DuPont is a multi-industrial company and is subject to competition across all product and service areas.

Against this competitive backdrop, value-in-use is the primary driver of price for the Company's products, although price is impacted by many factors including, among others, fluctuations in supply and demand, and availability and cost of key manufacturing inputs including raw materials and energy.

The Company believes that its proprietary product and process technologies, robust product and application development pipelines, customer intimacy, global manufacturing capability and local service capability enable it to compete successfully.

Cost of sales was $7.8 billion for the year ended December 31, 2023, down from $8.4 billion for the year ended December 31, 2022. Cost of sales decreased for the year ended December 31, 2023 primarily due to decreased sales volume and lower raw material, logistics and energy costs.

The Company's profitability and margin growth will depend in part on the Company's ability to maintain a streamlined operating model and drive sustainable improvements, through actions and projects, such as consolidation of manufacturing facilities, transitions to cost-competitive regions and product line rationalizations.

Supply chain disruptions, plant and/or power outages, labor shortages and/or strikes, geo-political activity, weather events and natural disasters, including hurricanes or flooding that impact coastal regions, and global health risks or pandemics could seriously harm the Company's operations as well as the operations of the Company's customers and suppliers.

R&D expense was $508 million for the year ended December 31, 2023, down from $536 million for the year ended December 31, 2022 and $557 million for the year ended December 31, 2021. R&D as a percentage of net sales was 4 percent for the years ended December 31, 2023, 2022 and 2021.

Electronics & Industrial addresses these markets by leveraging a strong science and technology base and customer-driven application engineering capabilities to provide the critical materials and solutions for creating a more connected and digital world.

The Company applies for and obtains patents in many countries, including the U.S., and has access to a large patent portfolio, both owned and licensed.

Subsequent to year end, in the first quarter 2024, the Company's Board of Directors approved a new share repurchase program authorizing the repurchase and retirement of up to $1 billion of common stock

Capital expenditures totaled $619 million, $662 million and $788 million for the years ended December 31, 2023, 2022 and 2021, respectively.

On August 1, 2023, the Company completed the previously announced acquisition of Spectrum Plastics Group from AEA Investors. The net purchase price was approximately $1,792 million

DuPont's sustainability strategy is focused on driving innovations to create sustainable solutions that help address the most pressing challenges facing society and the planet; enhancing the sustainability of its operations and facilities; and protecting the health and well-being of its employees and communities.

DuPont announced in 2019 an Acting on Climate Goal to reduce greenhouse gas (GHG) emissions measured from a base year of 2019, including sourcing 60 percent of electricity for operations from renewable energy, and delivering carbon neutral operations by 2050.

In the second quarter 2023, DuPont announced that it had strengthened its climate goals including, among other things, increasing its reduction targets for Scope 1 and 2 GHG emissions and establishing a Scope 3 GHG emissions reduction goal measured from a 2020 base year.

In 2023, DuPont continued to experience the impact of macroeconomic factors primarily involving channel inventory destocking and slower industrial demand in China.

Trade regulations, policies and disputes can and have increased tariffs, trade barriers, limited the Company's ability to sell certain products to certain customers, and otherwise impacted the Company's global supply and distribution chains and research and development activities.

DuPont does business globally in about 50 countries. The percentage of net sales generated by the international operations of DuPont, including U.S. exports, was approximately 68 percent of net sales on a continuing operations basis for the year ended December 31, 2023.