ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

Quarterly report pursuant to Section 13 or 15(d)

Note 20 - Operating Segment Information - Financial Information By Segment (Details)

v3.22.2.2
Note 20 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
Total revenues [1] $ 2,011 Ìý Ìý $ 2,097 Ìý Ìý $ 6,373 $ 5,558
Segment adjusted EBITDA [2] 306 Ìý Ìý 397 Ìý Ìý 1,191 1,065
Interest expense, net—continuing operations (16) Ìý Ìý (15) Ìý Ìý (46) (52)
Depreciation and amortization—continuing operations (72) Ìý Ìý (68) Ìý Ìý (207) (205)
Corporate and other costs, net(2) [3] (35) Ìý Ìý (48) Ìý Ìý (123) (146)
Net income attributable to noncontrolling interests 15 Ìý Ìý 16 Ìý Ìý 46 49
Business acquisition and integration expenses and purchase accounting inventory adjustments (1) Ìý Ìý (5) Ìý Ìý (11) (19)
Fair value adjustments to Venator investment, net (7) Ìý Ìý (3) Ìý Ìý (9) (28)
Gain (Loss) on Extinguishment of Debt, Total 0 Ìý Ìý 0 Ìý Ìý 0 (27)
Certain legal and other settlements and related expenses (1) Ìý Ìý 0 Ìý Ìý (15) (10)
Costs associated with the Albemarle Settlement, net (1) Ìý Ìý 0 Ìý Ìý (3) 0
(Loss) gain on sale of business/assets (16) Ìý Ìý 0 Ìý Ìý (27) 30
Income from transition services arrangements 0 Ìý Ìý 2 Ìý Ìý 2 6
Certain nonrecurring information technology project implementation costs (1) Ìý Ìý (2) Ìý Ìý (4) (6)
Amortization of pension and postretirement actuarial losses (10) Ìý Ìý (19) Ìý Ìý (32) (56)
Plant incident remediation (costs) credits (1) Ìý Ìý (2) Ìý Ìý 4 (3)
Restructuring, impairment and plant closing and transition costs(3) [4] (14) Ìý Ìý 0 Ìý Ìý (44) (36)
Income from continuing operations before income taxes 146 Ìý Ìý 253 Ìý Ìý 722 562
Income tax expense—continuing operations (30) Ìý Ìý (34) Ìý Ìý (155) (101)
(Loss) income from discontinued operations, net of tax (1) Ìý Ìý 6 Ìý Ìý 30 36
Net income 115 $ 242 $ 240 225 $ 172 $ 100 597 497
ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 2,011 Ìý Ìý 2,097 Ìý Ìý 6,373 5,558
Segment adjusted EBITDA [2] 306 Ìý Ìý 397 Ìý Ìý 1,191 1,065
Interest expense, net—continuing operations (16) Ìý Ìý (15) Ìý Ìý (46) (52)
Depreciation and amortization—continuing operations Ìý Ìý Ìý Ìý Ìý Ìý (207) (205)
Corporate and other costs, net(2) [3] Ìý Ìý Ìý Ìý Ìý Ìý (119) (140)
Net income attributable to noncontrolling interests 15 Ìý Ìý 16 Ìý Ìý 46 49
Business acquisition and integration expenses and purchase accounting inventory adjustments (1) Ìý Ìý (5) Ìý Ìý (11) (19)
Fair value adjustments to Venator investment, net (7) Ìý Ìý (3) Ìý Ìý (9) (28)
Gain (Loss) on Extinguishment of Debt, Total 0 Ìý Ìý 0 Ìý Ìý 0 (27)
Certain legal and other settlements and related expenses (1) Ìý Ìý 0 Ìý Ìý (15) (10)
Costs associated with the Albemarle Settlement, net (1) Ìý Ìý 0 Ìý Ìý (3) 0
(Loss) gain on sale of business/assets (16) Ìý Ìý 0 Ìý Ìý (27) 30
Income from transition services arrangements 0 Ìý Ìý 2 Ìý Ìý 2 6
Certain nonrecurring information technology project implementation costs (1) Ìý Ìý (2) Ìý Ìý (4) (6)
Plant incident remediation (costs) credits (1) Ìý Ìý (2) Ìý Ìý 4 (3)
Restructuring, impairment and plant closing and transition costs(3) [4] (14) Ìý Ìý 0 Ìý Ìý (44) (36)
Income from continuing operations before income taxes 145 Ìý Ìý 254 Ìý Ìý 726 566
Income tax expense—continuing operations (30) Ìý Ìý (35) Ìý Ìý (156) (102)
(Loss) income from discontinued operations, net of tax (1) Ìý Ìý 6 Ìý Ìý 30 36
Net income 114 $ 243 $ 243 225 $ 173 $ 102 600 500
Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 2,019 Ìý Ìý 2,106 Ìý Ìý 6,401 5,582
Consolidation, Eliminations [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues (8) Ìý Ìý (9) Ìý Ìý (28) (24)
Polyurethanes [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues [1] 1,257 Ìý Ìý 1,403 Ìý Ìý 3,996 3,626
Segment adjusted EBITDA [2] 138 Ìý Ìý 246 Ìý Ìý 591 661
Polyurethanes [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [2] 138 Ìý Ìý 246 Ìý Ìý 591 661
Performance Products [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues [1] 434 Ìý Ìý 399 Ìý Ìý 1,406 1,075
Segment adjusted EBITDA [2] 110 Ìý Ìý 103 Ìý Ìý 408 254
Performance Products [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [2] 110 Ìý Ìý 103 Ìý Ìý 408 254
Advanced Materials [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues [1] 328 Ìý Ìý 304 Ìý Ìý 999 881
Segment adjusted EBITDA [2] 58 Ìý Ìý 48 Ìý Ìý 192 150
Advanced Materials [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [2] $ 58 Ìý Ìý $ 48 Ìý Ìý $ 192 $ 150
[1] Geographic information for revenues is based upon countries into which product is sold.
[2] We use segment adjusted EBITDA as the measure of each segment’s profit or loss. We believe that segment adjusted EBITDA more accurately reflects what the chief operating decision maker uses to make decisions about resources to be allocated to the segments and assess their financial performance. Segment adjusted EBITDA is defined as net income of ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ Corporation or ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International, as appropriate, before interest, income tax, depreciation and amortization, net income attributable to noncontrolling interests, certain Corporate and other items and income from discontinued operations, as well as eliminating the following adjustments: (a) business acquisition and integration expenses and purchase accounting inventory adjustments; (b) fair value adjustments to Venator investment, net; (c) loss on early extinguishment of debt; (d) certain legal and other settlements and related expenses; (e) costs associated with the Albemarle Settlement, net; (f) (loss) gain on sale of business/assets; (g) income from transition services arrangements related to the sale of our Chemical Intermediates Businesses to Indorama; (h) certain nonrecurring information technology project implementation costs; (i) amortization of pension and postretirement actuarial losses; (j) plant incident remediation credits (costs); and (k) restructuring, impairment, plant closing and transition costs.
[3] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, nonoperating income and expense and gains and losses on the disposition of corporate assets.
[4] Includes costs associated with transition activities related primarily to our Corporate program to optimize our global approach to leverage shared services capabilities.