ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

Quarterly report pursuant to Section 13 or 15(d)

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

v3.24.2.u1
Note 20 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Total revenues $ 1,574 [1] Ìý $ 1,596 Ìý $ 3,044 [1] $ 3,202
Segment adjusted EBITDA [2] 178 Ìý 194 Ìý 302 379
Interest expense, net—continuing operations (20) Ìý (15) Ìý (39) (33)
Depreciation and amortization—continuing operations (75) Ìý (70) Ìý (144) (139)
Corporate and other costs, net(2) [3] (47) Ìý (38) Ìý (90) (87)
Net income attributable to noncontrolling interests 16 Ìý 12 Ìý 30 25
Business acquisition and integration expenses and purchase accounting inventory adjustments, net (1) Ìý (2) Ìý (21) (3)
Fair value adjustments to Venator investment, net and other tax matter adjustments 7 Ìý (4) Ìý 7 (5)
Certain legal and other settlements and related expenses (1) Ìý (1) Ìý (2) (2)
Gain on sale of business/assets 0 Ìý 1 Ìý 0 1
Certain nonrecurring information technology project implementation costs 0 Ìý (1) Ìý 0 (3)
Amortization of pension and postretirement actuarial losses (8) Ìý (7) Ìý (16) (15)
Restructuring, impairment and plant closing and transition costs(3) [4] (5) Ìý (8) Ìý (19) (2)
Income from continuing operations before income taxes 44 Ìý 61 Ìý 8 116
Income tax (expense) benefit—continuing operations (13) Ìý (28) Ìý 7 (39)
Income (loss) from discontinued operations, net of tax 7 Ìý (2) Ìý 0 120
Net income 38 $ (23) 31 $ 166 15 197
ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 1,574 Ìý 1,596 Ìý 3,044 3,202
Interest expense, net—continuing operations (20) Ìý (15) Ìý (39) (33)
Depreciation and amortization—continuing operations (75) Ìý (70) Ìý (144) (139)
Corporate and other costs, net(2) [5] (47) Ìý (38) Ìý (88) (85)
Net income attributable to noncontrolling interests 16 Ìý 12 Ìý 30 25
Business acquisition and integration expenses and purchase accounting inventory adjustments, net (1) Ìý (2) Ìý (21) (3)
Fair value adjustments to Venator investment, net and other tax matter adjustments 7 Ìý (4) Ìý 7 (5)
Certain legal and other settlements and related expenses (1) Ìý (1) Ìý (2) (2)
Gain on sale of business/assets 0 Ìý 1 Ìý 0 1
Certain nonrecurring information technology project implementation costs 0 Ìý (1) Ìý 0 (3)
Amortization of pension and postretirement actuarial losses (8) Ìý (7) Ìý (16) (15)
Restructuring, impairment and plant closing and transition costs(3) [4] (5) Ìý (8) Ìý (19) (2)
Income from continuing operations before income taxes 44 Ìý 61 Ìý 10 118
Income tax (expense) benefit—continuing operations (13) Ìý (28) Ìý 7 (39)
Income (loss) from discontinued operations, net of tax 7 Ìý (2) Ìý 0 120
Net income 38 $ (21) 31 $ 168 17 199
Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 1,579 Ìý 1,603 Ìý 3,057 3,217
Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [6] 178 Ìý 194 Ìý 302 379
Consolidation, Eliminations [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues (5) Ìý (7) Ìý (13) (15)
Polyurethanes [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 1,001 [1] Ìý 1,012 Ìý 1,927 [1] 2,003
Segment adjusted EBITDA [2] 80 Ìý 88 Ìý 119 154
Polyurethanes [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [6] 80 Ìý 88 Ìý 119 154
Performance Products [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 299 [1] Ìý 307 Ìý 590 [1] 641
Segment adjusted EBITDA [2] 46 Ìý 55 Ìý 88 126
Performance Products [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [6] 46 Ìý 55 Ìý 88 126
Advanced Materials [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 279 [1] Ìý 284 Ìý 540 [1] 573
Segment adjusted EBITDA [2] 52 Ìý 51 Ìý 95 99
Advanced Materials [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [6] $ 52 Ìý $ 51 Ìý $ 95 $ 99
[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 and certain Corporate and other items, 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) certain legal and other settlements and related expenses; (d) certain nonrecurring information technology project implementation costs; (e) amortization of pension and postretirement actuarial losses; (f) restructuring, impairment, plant closing and transition (costs) credits; and (g) (loss) income from discontinued operations, net of tax.
[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.
[5] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, nonoperating income and expense and gains and losses on the disposition of corporate assets.
[6] 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 and certain Corporate and other items, 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 and related loss on disposal; (c) loss on early extinguishment of debt; (d) certain legal and other settlements and related expenses; (e) income (expenses) associated with the Albemarle Settlement, net; (f) gain (loss) on sale of businesses/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 costs; (k) restructuring, impairment, plant closing and transition (costs) credits; and (l) (loss) income from discontinued operations, net of tax.