We shifted our financial forecast for prioritizing cash and liquidity given the uncertainties and we delivered another year of outstanding cash flow, our fourth consecutive year of cash flow greater than $1 billion.
In addition, in our 2020 Sustainability Report, we committed to the ambitious goals of reducing our Scope 1 and 2 greenhouse gas emissions by one-third by 2030 and achieving carbon neutrality by 2050.
As a result, EBIT declined by about $100 million just related to this additional inventory actions we took.
If volume is flat in '21 compared with '20, we would have about a $100 million tailwind from this improved utilization as we go into this year or about $0.60 a share.
Looking at our cost structure, you'll recall that we reduced costs by approximately $150 million in 2020 versus '19, and we estimate about $100 million of this was temporary.
When we put this together, we expect our '21 adjusted earnings per share will increase between 20% and 30% compared to 2020.
You recall in the first quarter of 2020, our earnings per share was up 15% year-over-year, a very strong performance for our industry at that time.
Finally, on cash, a high priority for Eastman, we expect '21 to be our fifth consecutive year of free cash flow above $1 billion.
Over the next two years, Eastman will invest approximately $250 million in the facility, which will support Eastman's commitment to addressing the global waste crisis and mitigating challenges created by climate change, while also creating value for shareholders.
Using the company's polyester renewal technology, this new facility will use 110 kmt [Phonetic] of plastic waste to produce premium high-quality specialty plastics made with recycled content.
This will not only reduce the company's use of fossil fuels feedstocks, but it will also reduce our greenhouse gas emissions by 20% to 30%.

Summary:
We shifted our financial forecast for prioritizing cash and liquidity given the uncertainties and we delivered another year of outstanding cash flow, our fourth consecutive year of cash flow greater than $1 billion.
In addition, in our 2020 Sustainability Report, we committed to the ambitious goals of reducing our Scope 1 and 2 greenhouse gas emissions by one-third by 2030 and achieving carbon neutrality by 2050.
When we put this together, we expect our '21 adjusted earnings per share will increase between 20% and 30% compared to 2020.
Finally, on cash, a high priority for Eastman, we expect '21 to be our fifth consecutive year of free cash flow above $1 billion.
This will not only reduce the company's use of fossil fuels feedstocks, but it will also reduce our greenhouse gas emissions by 20% to 30%.