| OPERATING SEGMENT INFORMATION |
24.ÌýÌýOPERATING SEGMENT INFORMATION
We derive our revenues, earnings and cash flows from the manufacture and sale of a wide variety of differentiated and commodity chemical products. We have four operating segments, which are also our reportable segments: Polyurethanes, Performance Products, Advanced Materials and Textile Effects. We have organized our business and derived our operating segments around differences in product lines. In connection with the Venator IPO in August 2017, we separated the P&A Business and, beginning in the third quarter of 2017, we reported the results of operations of the P&A Business as discontinued operations in our consolidated financial statements for all periods presented. See “Note 3. Discontinued Operations and Business Dispositions—Separation of P&A Business.�
The major products of each reportable operating segment are as follows:
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Ìý
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Ìý
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Ìý
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Segment
|
ÌýÌýÌýÌý
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Products
|
|
Polyurethanes
|
Ìý
|
MDI, PO, polyols, PG, TPU, aniline and MTBE
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|
PerformanceÌýProducts
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Ìý
|
Amines, surfactants, LAB, maleic anhydride, other performance chemicals, EG, olefins and technology licenses
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Advanced Materials
|
Ìý
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Technologically advanced epoxy, acrylic and polyurethane-based polymers formulations; high performance thermoset resins and curing agents; base liquid and solid resins
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Textile Effects
|
Ìý
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Textile chemicals, dyes and digital inks
|
Ìý
Sales between segments are generally recognized at external market prices and are eliminated in consolidation. We use adjusted EBITDA to measure the financial performance of our global business units and for reporting the results of our operating segments. This measure includes all operating items relating to the businesses. The adjusted EBITDA of operating segments excludes items that principally apply to our Company as a whole. The revenues and adjusted EBITDA for each of our reportable operating segments are as follows (dollars in millions):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Year ended DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
Revenues:
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
Polyurethanes
|
Ìý
|
$
|
4,399
|
Ìý
|
$
|
3,667
|
Ìý
|
$
|
3,811
|
|
Performance Products
|
Ìý
|
Ìý
|
2,109
|
Ìý
|
Ìý
|
2,126
|
Ìý
|
Ìý
|
2,501
|
|
Advanced Materials
|
Ìý
|
Ìý
|
1,040
|
Ìý
|
Ìý
|
1,020
|
Ìý
|
Ìý
|
1,103
|
|
Textile Effects
|
Ìý
|
Ìý
|
776
|
Ìý
|
Ìý
|
751
|
Ìý
|
Ìý
|
804
|
|
Corporate and eliminations
|
Ìý
|
Ìý
|
34
|
Ìý
|
Ìý
|
(46)
|
Ìý
|
Ìý
|
(80)
|
|
Total
|
Ìý
|
$
|
8,358
|
Ìý
|
$
|
7,518
|
Ìý
|
$
|
8,139
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ Corporation:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Segment adjusted EBITDA(1):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Polyurethanes
|
Ìý
|
$
|
850
|
Ìý
|
$
|
569
|
Ìý
|
$
|
573
|
|
Performance Products
|
Ìý
|
Ìý
|
296
|
Ìý
|
Ìý
|
316
|
Ìý
|
Ìý
|
460
|
|
Advanced Materials
|
Ìý
|
Ìý
|
219
|
Ìý
|
Ìý
|
223
|
Ìý
|
Ìý
|
220
|
|
Textile Effects
|
Ìý
|
Ìý
|
83
|
Ìý
|
Ìý
|
73
|
Ìý
|
Ìý
|
63
|
|
Corporate and other(2)
|
Ìý
|
Ìý
|
(189)
|
Ìý
|
Ìý
|
(184)
|
Ìý
|
Ìý
|
(156)
|
|
Total
|
Ìý
|
Ìý
|
1,259
|
Ìý
|
Ìý
|
997
|
Ìý
|
Ìý
|
1,160
|
|
Reconciliation of adjusted EBITDA to net income:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Interest expense—continuing operations
|
Ìý
|
Ìý
|
(165)
|
Ìý
|
Ìý
|
(203)
|
Ìý
|
Ìý
|
(205)
|
|
Interest (expense) income—discontinued operations
|
Ìý
|
Ìý
|
(19)
|
Ìý
|
Ìý
|
Ìý1
|
Ìý
|
Ìý
|
Ìýâ€�
|
|
Income tax expense—continuing operations
|
Ìý
|
Ìý
|
(64)
|
Ìý
|
Ìý
|
(109)
|
Ìý
|
Ìý
|
(60)
|
|
Income tax (expense) benefit—discontinued operations
|
Ìý
|
Ìý
|
(67)
|
Ìý
|
Ìý
|
24
|
Ìý
|
Ìý
|
16
|
|
Depreciation and amortization—continuing operations
|
Ìý
|
Ìý
|
(319)
|
Ìý
|
Ìý
|
(318)
|
Ìý
|
Ìý
|
(298)
|
|
Depreciation and amortization—discontinued operations
|
Ìý
|
Ìý
|
(68)
|
Ìý
|
Ìý
|
(114)
|
Ìý
|
Ìý
|
(101)
|
|
Net income attributable to noncontrolling interests
|
Ìý
|
Ìý
|
105
|
Ìý
|
Ìý
|
31
|
Ìý
|
Ìý
|
33
|
|
Other adjustments:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Business acquisition and integration expenses
|
Ìý
|
Ìý
|
(19)
|
Ìý
|
Ìý
|
(12)
|
Ìý
|
Ìý
|
(9)
|
|
Merger costs
|
Ìý
|
Ìý
|
(28)
|
Ìý
|
Ìý
|
Ìýâ€�
|
Ìý
|
Ìý
|
Ìýâ€�
|
|
EBITDA from discontinued operations
|
Ìý
|
Ìý
|
312
|
Ìý
|
Ìý
|
81
|
Ìý
|
Ìý
|
(217)
|
|
Minority interest of discontinued operations
|
Ìý
|
Ìý
|
(49)
|
Ìý
|
Ìý
|
(11)
|
Ìý
|
Ìý
|
(7)
|
|
Loss on early extinguishment of debt
|
Ìý
|
Ìý
|
(54)
|
Ìý
|
Ìý
|
(3)
|
Ìý
|
Ìý
|
(31)
|
|
Certain legal settlements and related income (expenses)
|
Ìý
|
Ìý
|
11
|
Ìý
|
Ìý
|
(1)
|
Ìý
|
Ìý
|
(1)
|
|
Gain (loss) on sale of assets
|
Ìý
|
Ìý
|
Ìý9
|
Ìý
|
Ìý
|
97
|
Ìý
|
Ìý
|
(1)
|
|
Amortization of pension and postretirement actuarial losses
|
Ìý
|
Ìý
|
(73)
|
Ìý
|
Ìý
|
(55)
|
Ìý
|
Ìý
|
(66)
|
|
Plant incident remediation costs
|
Ìý
|
Ìý
|
(16)
|
Ìý
|
Ìý
|
Ìýâ€�
|
Ìý
|
Ìý
|
Ìýâ€�
|
|
U.S. Tax Reform Act impact on minority interest
|
Ìý
|
Ìý
|
Ìý6
|
Ìý
|
Ìý
|
Ìýâ€�
|
Ìý
|
Ìý
|
Ìýâ€�
|
|
Restructuring, impairment and plant closing and transition costs
|
Ìý
|
Ìý
|
(20)
|
Ìý
|
Ìý
|
(48)
|
Ìý
|
Ìý
|
(87)
|
|
Net income
|
Ìý
|
$
|
741
|
Ìý
|
$
|
357
|
Ìý
|
$
|
126
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Year ended DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
Depreciation and Amortization:
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
Polyurethanes
|
Ìý
|
$
|
116
|
Ìý
|
$
|
114
|
Ìý
|
$
|
100
|
|
Performance Products
|
Ìý
|
Ìý
|
137
|
Ìý
|
Ìý
|
132
|
Ìý
|
Ìý
|
119
|
|
Advanced Materials
|
Ìý
|
Ìý
|
33
|
Ìý
|
Ìý
|
35
|
Ìý
|
Ìý
|
38
|
|
Textile Effects
|
Ìý
|
Ìý
|
14
|
Ìý
|
Ìý
|
15
|
Ìý
|
Ìý
|
17
|
|
Corporate and other
|
Ìý
|
Ìý
|
19
|
Ìý
|
Ìý
|
22
|
Ìý
|
Ìý
|
24
|
|
Total
|
Ìý
|
$
|
319
|
Ìý
|
$
|
318
|
Ìý
|
$
|
298
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Year ended DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
Capital Expenditures:
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
Polyurethanes
|
Ìý
|
$
|
162
|
Ìý
|
$
|
143
|
Ìý
|
$
|
181
|
|
Performance Products
|
Ìý
|
Ìý
|
79
|
Ìý
|
Ìý
|
131
|
Ìý
|
Ìý
|
205
|
|
Advanced Materials
|
Ìý
|
Ìý
|
21
|
Ìý
|
Ìý
|
16
|
Ìý
|
Ìý
|
25
|
|
Textile Effects
|
Ìý
|
Ìý
|
16
|
Ìý
|
Ìý
|
19
|
Ìý
|
Ìý
|
24
|
|
Corporate and other
|
Ìý
|
Ìý
|
Ìý4
|
Ìý
|
Ìý
|
Ìý9
|
Ìý
|
Ìý
|
26
|
|
Total
|
Ìý
|
$
|
282
|
Ìý
|
$
|
318
|
Ìý
|
$
|
461
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
Total Assets:
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
Polyurethanes
|
Ìý
|
$
|
3,112
|
Ìý
|
$
|
2,677
|
Ìý
|
$
|
2,779
|
|
Performance Products
|
Ìý
|
Ìý
|
2,069
|
Ìý
|
Ìý
|
2,046
|
Ìý
|
Ìý
|
2,264
|
|
Advanced Materials
|
Ìý
|
Ìý
|
796
|
Ìý
|
Ìý
|
728
|
Ìý
|
Ìý
|
822
|
|
Textile Effects
|
Ìý
|
Ìý
|
564
|
Ìý
|
Ìý
|
523
|
Ìý
|
Ìý
|
562
|
|
Corporate and other
|
Ìý
|
Ìý
|
823
|
Ìý
|
Ìý
|
975
|
Ìý
|
Ìý
|
904
|
|
Total
|
Ìý
|
$
|
7,364
|
Ìý
|
$
|
6,949
|
Ìý
|
$
|
7,331
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Year ended DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International:
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
Segment adjusted EBITDA(1):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Polyurethanes
|
Ìý
|
$
|
850
|
Ìý
|
$
|
569
|
Ìý
|
$
|
573
|
|
Performance Products
|
Ìý
|
Ìý
|
296
|
Ìý
|
Ìý
|
316
|
Ìý
|
Ìý
|
460
|
|
Advanced Materials
|
Ìý
|
Ìý
|
219
|
Ìý
|
Ìý
|
223
|
Ìý
|
Ìý
|
220
|
|
Textile Effects
|
Ìý
|
Ìý
|
83
|
Ìý
|
Ìý
|
73
|
Ìý
|
Ìý
|
63
|
|
Corporate and other(2)
|
Ìý
|
Ìý
|
(185)
|
Ìý
|
Ìý
|
(180)
|
Ìý
|
Ìý
|
(151)
|
|
Total
|
Ìý
|
Ìý
|
1,263
|
Ìý
|
Ìý
|
1,001
|
Ìý
|
Ìý
|
1,165
|
|
Reconciliation of adjusted EBITDA to net income:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Interest expense—continuing operations
|
Ìý
|
Ìý
|
(181)
|
Ìý
|
Ìý
|
(215)
|
Ìý
|
Ìý
|
(214)
|
|
Interest (expense) income—discontinued operations
|
Ìý
|
Ìý
|
(19)
|
Ìý
|
Ìý
|
Ìý1
|
Ìý
|
Ìý
|
Ìýâ€�
|
|
Income tax expense—continuing operations
|
Ìý
|
Ìý
|
(61)
|
Ìý
|
Ìý
|
(108)
|
Ìý
|
Ìý
|
(59)
|
|
Income tax (expense) benefit—discontinued operations
|
Ìý
|
Ìý
|
(67)
|
Ìý
|
Ìý
|
24
|
Ìý
|
Ìý
|
16
|
|
Depreciation and amortization—continuing operations
|
Ìý
|
Ìý
|
(311)
|
Ìý
|
Ìý
|
(306)
|
Ìý
|
Ìý
|
(286)
|
|
Depreciation and amortization—discontinued operations
|
Ìý
|
Ìý
|
(68)
|
Ìý
|
Ìý
|
(114)
|
Ìý
|
Ìý
|
(101)
|
|
Net income attributable to noncontrolling interests
|
Ìý
|
Ìý
|
105
|
Ìý
|
Ìý
|
31
|
Ìý
|
Ìý
|
33
|
|
Other adjustments:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Business acquisition and integration expenses
|
Ìý
|
Ìý
|
(19)
|
Ìý
|
Ìý
|
(12)
|
Ìý
|
Ìý
|
(9)
|
|
Merger costs
|
Ìý
|
Ìý
|
(28)
|
Ìý
|
Ìý
|
Ìýâ€�
|
Ìý
|
Ìý
|
Ìýâ€�
|
|
EBITDA from discontinued operations
|
Ìý
|
Ìý
|
309
|
Ìý
|
Ìý
|
76
|
Ìý
|
Ìý
|
(223)
|
|
Minority interest of discontinued operations
|
Ìý
|
Ìý
|
(49)
|
Ìý
|
Ìý
|
(11)
|
Ìý
|
Ìý
|
(7)
|
|
Loss on early extinguishment of debt
|
Ìý
|
Ìý
|
(54)
|
Ìý
|
Ìý
|
(3)
|
Ìý
|
Ìý
|
(31)
|
|
Certain legal settlements and related income (expenses)
|
Ìý
|
Ìý
|
11
|
Ìý
|
Ìý
|
(1)
|
Ìý
|
Ìý
|
(1)
|
|
Gain (loss) on sale of assets
|
Ìý
|
Ìý
|
Ìý9
|
Ìý
|
Ìý
|
97
|
Ìý
|
Ìý
|
(1)
|
|
Amortization of pension and postretirement actuarial losses
|
Ìý
|
Ìý
|
(76)
|
Ìý
|
Ìý
|
(58)
|
Ìý
|
Ìý
|
(68)
|
|
Plant incident remediation costs
|
Ìý
|
Ìý
|
(16)
|
Ìý
|
Ìý
|
Ìýâ€�
|
Ìý
|
Ìý
|
Ìýâ€�
|
|
U.S. Tax Reform Act impact on minority interest
|
Ìý
|
Ìý
|
Ìý6
|
Ìý
|
Ìý
|
Ìýâ€�
|
Ìý
|
Ìý
|
Ìýâ€�
|
|
Restructuring, impairment and plant closing and transition costs
|
Ìý
|
Ìý
|
(20)
|
Ìý
|
Ìý
|
(48)
|
Ìý
|
Ìý
|
(87)
|
|
Net income
|
Ìý
|
$
|
734
|
Ìý
|
$
|
354
|
Ìý
|
$
|
127
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Year ended DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
Depreciation and Amortization:
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
Polyurethanes
|
Ìý
|
$
|
116
|
Ìý
|
$
|
114
|
Ìý
|
$
|
100
|
|
Performance Products
|
Ìý
|
Ìý
|
137
|
Ìý
|
Ìý
|
132
|
Ìý
|
Ìý
|
119
|
|
Advanced Materials
|
Ìý
|
Ìý
|
33
|
Ìý
|
Ìý
|
35
|
Ìý
|
Ìý
|
38
|
|
Textile Effects
|
Ìý
|
Ìý
|
14
|
Ìý
|
Ìý
|
15
|
Ìý
|
Ìý
|
17
|
|
Corporate and other
|
Ìý
|
Ìý
|
11
|
Ìý
|
Ìý
|
10
|
Ìý
|
Ìý
|
12
|
|
Total
|
Ìý
|
$
|
311
|
Ìý
|
$
|
306
|
Ìý
|
$
|
286
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Year ended DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
Capital Expenditures:
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
Polyurethanes
|
Ìý
|
$
|
162
|
Ìý
|
$
|
143
|
Ìý
|
$
|
181
|
|
Performance Products
|
Ìý
|
Ìý
|
79
|
Ìý
|
Ìý
|
131
|
Ìý
|
Ìý
|
205
|
|
Advanced Materials
|
Ìý
|
Ìý
|
21
|
Ìý
|
Ìý
|
16
|
Ìý
|
Ìý
|
25
|
|
Textile Effects
|
Ìý
|
Ìý
|
16
|
Ìý
|
Ìý
|
19
|
Ìý
|
Ìý
|
24
|
|
Corporate and other
|
Ìý
|
Ìý
|
Ìý4
|
Ìý
|
Ìý
|
Ìý9
|
Ìý
|
Ìý
|
26
|
|
Total
|
Ìý
|
$
|
282
|
Ìý
|
$
|
318
|
Ìý
|
$
|
461
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
Total Assets:
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
Polyurethanes
|
Ìý
|
$
|
3,109
|
Ìý
|
$
|
2,665
|
Ìý
|
$
|
2,760
|
|
Performance Products
|
Ìý
|
Ìý
|
2,069
|
Ìý
|
Ìý
|
2,045
|
Ìý
|
Ìý
|
2,262
|
|
Advanced Materials
|
Ìý
|
Ìý
|
796
|
Ìý
|
Ìý
|
728
|
Ìý
|
Ìý
|
822
|
|
Textile Effects
|
Ìý
|
Ìý
|
564
|
Ìý
|
Ìý
|
523
|
Ìý
|
Ìý
|
562
|
|
Corporate and other
|
Ìý
|
Ìý
|
1,167
|
Ìý
|
Ìý
|
1,274
|
Ìý
|
Ìý
|
1,193
|
|
Total
|
Ìý
|
$
|
7,705
|
Ìý
|
$
|
7,235
|
Ìý
|
$
|
7,599
|
Ìý
|
|
(1)
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 management 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; (b) merger costs; (c) EBITDA from discontinued operations; (d) minority interest of discontinued operations; (e) loss on early extinguishment of debt; (f) certain legal settlements and related income (expenses); (g) gain (loss) on sale of assets; (h) amortization of pension and postretirement actuarial losses; (i) plant incident remediation costs; (j) U.S. Tax Reform Act impact on minority interest; and (k) restructuring, impairment, plant closing and transition costs.
(2)
Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, nonoperating income and expense, benzene sales and gains and losses on the disposition of corporate assets.
|
Ìý
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Year ended DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
By Geographic Area
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
Revenues(1):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
United States
|
Ìý
|
$
|
2,729
|
Ìý
|
$
|
2,514
|
Ìý
|
$
|
2,727
|
|
China
|
Ìý
|
Ìý
|
1,147
|
Ìý
|
Ìý
|
908
|
Ìý
|
Ìý
|
1,013
|
|
Germany
|
Ìý
|
Ìý
|
508
|
Ìý
|
Ìý
|
466
|
Ìý
|
Ìý
|
479
|
|
Mexico
|
Ìý
|
Ìý
|
481
|
Ìý
|
Ìý
|
433
|
Ìý
|
Ìý
|
455
|
|
Other nations
|
Ìý
|
Ìý
|
3,493
|
Ìý
|
Ìý
|
3,197
|
Ìý
|
Ìý
|
3,465
|
|
Total
|
Ìý
|
$
|
8,358
|
Ìý
|
$
|
7,518
|
Ìý
|
$
|
8,139
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
DecemberÌý31,Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
2017
|
ÌýÌýÌýÌý
|
2016
|
ÌýÌýÌýÌý
|
2015
|
|
Long-lived assets(2):
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ Corporation
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
United States
|
Ìý
|
$
|
1,597
|
Ìý
|
$
|
1,570
|
Ìý
|
$
|
1,677
|
|
The Netherlands
|
Ìý
|
Ìý
|
343
|
Ìý
|
Ìý
|
294
|
Ìý
|
Ìý
|
304
|
|
China
|
Ìý
|
Ìý
|
268
|
Ìý
|
Ìý
|
235
|
Ìý
|
Ìý
|
208
|
|
Saudi Arabia
|
Ìý
|
Ìý
|
172
|
Ìý
|
Ìý
|
185
|
Ìý
|
Ìý
|
196
|
|
Germany
|
Ìý
|
Ìý
|
163
|
Ìý
|
Ìý
|
136
|
Ìý
|
Ìý
|
147
|
|
Switzerland
|
Ìý
|
Ìý
|
112
|
Ìý
|
Ìý
|
110
|
Ìý
|
Ìý
|
120
|
|
Singapore
|
Ìý
|
Ìý
|
100
|
Ìý
|
Ìý
|
110
|
Ìý
|
Ìý
|
76
|
|
Other nations
|
Ìý
|
Ìý
|
343
|
Ìý
|
Ìý
|
394
|
Ìý
|
Ìý
|
442
|
|
Total
|
Ìý
|
$
|
3,098
|
Ìý
|
$
|
3,034
|
Ìý
|
$
|
3,170
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
United States
|
Ìý
|
$
|
1,594
|
Ìý
|
$
|
1,548
|
Ìý
|
$
|
1,641
|
|
The Netherlands
|
Ìý
|
Ìý
|
343
|
Ìý
|
Ìý
|
294
|
Ìý
|
Ìý
|
304
|
|
China
|
Ìý
|
Ìý
|
268
|
Ìý
|
Ìý
|
235
|
Ìý
|
Ìý
|
208
|
|
Saudi Arabia
|
Ìý
|
Ìý
|
172
|
Ìý
|
Ìý
|
185
|
Ìý
|
Ìý
|
196
|
|
Germany
|
Ìý
|
Ìý
|
163
|
Ìý
|
Ìý
|
136
|
Ìý
|
Ìý
|
147
|
|
Switzerland
|
Ìý
|
Ìý
|
112
|
Ìý
|
Ìý
|
110
|
Ìý
|
Ìý
|
120
|
|
Singapore
|
Ìý
|
Ìý
|
100
|
Ìý
|
Ìý
|
110
|
Ìý
|
Ìý
|
76
|
|
Other nations
|
Ìý
|
Ìý
|
343
|
Ìý
|
Ìý
|
394
|
Ìý
|
Ìý
|
442
|
|
Total
|
Ìý
|
$
|
3,095
|
Ìý
|
$
|
3,012
|
Ìý
|
$
|
3,134
|
Ìý
|
|
(1)ÌýÌýÌýÌýGeographic information for revenues is based upon countries into which product is sold.
|
|
Ìý
|
|
(2)ÌýÌýÌýÌýLong‑lived assets consist of property, plant and equipment, net.
|
Ìý
|