“Financing Costs, Net Financing costs incurred during 2025, 2024, and 2023 comprised the following: For the Year Ended December 31, 2025 2024 2023 (In millions) Interest expense $ 323 $ 402 $ 351 Amortization of debt issuance costs 7 6 4 Capitalized interest (45) (29) (24) Gain on extinguishment of debt (147) — (9) Interest income (25) (12) (10) Total Financing costs, net $ 113 $ 367 $ 312 Net financing costs during 2025 decreased $254 million compared to 2024, primarily driven by gains on extinguishment of debt from the Company’s cash tender purchases in early 2025 and lower overall interest expense from lower outstanding long-term debt balances.”
“OVERVIEW Results from continuing operations for 2025 decreased when compared to 2024, primarily as a result of non-cash impairment charges recognized in 2025 in our Olefins and Polyolefins-Europe, Asia, International (“O&P-EAI”) and Advanced Polymer Solutions (“APS”) segments.”
“Second quarter of 2025 versus first quarter of 2025 —EBITDA decreased largely due to the recognition of the non-cash impairment charge and costs incurred related to our planned European asset disposition.”