gain (loss) on disposition of business, net of tax

[Table of Contents](#i40ca88ef65884b508d3f9e19d0380e84_7)Discontinued Operations ActivityThe Company recorded income from discontinued operations, net of tax of $430 million and $92 million for the three months ended June 30, 2022 and 2021, respectively, and $706 million and $5,104 million for the six months ended June 30, 2022 and 2021, respectively.   
Discontinued operations activity consists of the following:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Income from discontinued operations, net of tax | Three Months Ended June 30,  |  Six Months Ended June 30,  |
| In millions | 2022 | 2021 | 2022 | 2021 |
| M&M Divestitures  | $ | 493  |  | $ | 169  |  | $ | 781  |  | $ | 324  |  |
| N&B Transaction | —  |  | (14) |  | —  |  | 4,848  |  |
| Other 1 | (63) |  | (63) |  | (75) |  | (68) |  |
| Income from discontinued operations, net of tax | $ | 430  |  | $ | 92  |  | $ | 706  |  | $ | 5,104  |  |

1.Primarily related to the binding Memorandum of Understanding (“MOU”) between Chemours, Corteva, E. I. du Pont de Nemours and Company ("EID") and the Company. For additional information on these matters, refer to Note 16.   
BiomaterialsIn May 2022, the Company completed the sale of its Biomaterials business unit, which included the Company's equity method investment in DuPont Tate & Lyle Bio Products, to the Huafon Group. Total consideration received related to the sale was approximately $240 million. For the three months and six months ended June 30, 2022, a pre-tax gain of $26 million ($21 million net of tax) was recorded in "Sundry income (expense) - net" in the Company's interim Consolidated Statements of Operations. The results of operations of the Biomaterials business unit are reported in Corporate & Other.   
The following table summarizes the carrying value of the major assets and liabilities of the Biomaterials business unit reflected as held for sale at December 31, 2021:

|  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
| In millions | December 31, 2021 |
| Assets |  |
| Accounts and notes receivable - net | $ | 27  |  |
| Inventories | 48  |  |
| Investments and noncurrent receivables | 158  |  |
| Property, plant and equipment - net  | 12  |  |
|      Assets held for sale | $ | 245  |  |
| Liabilities |  |
| Accounts payable | $ | 21  |  |
| Accrued and other current liabilities | 3  |  |
| Other noncurrent obligations | 1  |  |
|      Liabilities related to assets held for sale | $ | 25  |  |

  
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