ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

Quarterly report pursuant to Section 13 or 15(d)

Note 19 - Operating Segment Information - Financial Information By Segment (Details)

v3.23.3
Note 19 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Total revenues [1] $ 1,506 Ìý Ìý $ 2,011 Ìý Ìý $ 4,708 $ 6,373
Segment adjusted EBITDA [2] 177 Ìý Ìý 306 Ìý Ìý 556 1,191
Interest expense, net—continuing operations (15) Ìý Ìý (16) Ìý Ìý (48) (46)
Depreciation and amortization—continuing operations (69) Ìý Ìý (72) Ìý Ìý (208) (207)
Corporate and other costs, net(2) [3] (41) Ìý Ìý (35) Ìý Ìý (128) (123)
Net income attributable to noncontrolling interests 15 Ìý Ìý 15 Ìý Ìý 40 46
Business acquisition and integration expenses and purchase accounting inventory adjustments 0 Ìý Ìý (1) Ìý Ìý (3) (11)
Fair value adjustments to Venator investment, net 0 Ìý Ìý (7) Ìý Ìý (5) (9)
Certain legal and other settlements and related expenses (2) Ìý Ìý (1) Ìý Ìý (4) (15)
Costs associated with the Albemarle Settlement, net 0 Ìý Ìý (1) Ìý Ìý 0 (3)
Gain (loss) on sale of business/assets 0 Ìý Ìý (16) Ìý Ìý 1 (27)
Income from transition services arrangements 0 Ìý Ìý 0 Ìý Ìý 0 2
Certain nonrecurring information technology project implementation costs (2) Ìý Ìý (1) Ìý Ìý (5) (4)
Amortization of pension and postretirement actuarial losses (10) Ìý Ìý (10) Ìý Ìý (25) (32)
Plant incident remediation (costs) credits 0 Ìý Ìý (1) Ìý Ìý 0 4
Restructuring, impairment and plant closing and transition costs(3) [4] (11) Ìý Ìý (14) Ìý Ìý (13) (44)
Income from continuing operations before income taxes 42 Ìý Ìý 146 Ìý Ìý 158 722
Income tax expense—continuing operations (27) Ìý Ìý (30) Ìý Ìý (66) (155)
(Loss) income from discontinued operations, net of tax 0 Ìý Ìý (1) Ìý Ìý 120 30
Net income 15 $ 31 $ 166 115 $ 242 $ 240 212 597
ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 1,506 Ìý Ìý 2,011 Ìý Ìý 4,708 6,373
Segment adjusted EBITDA [2] 177 Ìý Ìý 306 Ìý Ìý 556 1,191
Interest expense, net—continuing operations (15) Ìý Ìý (16) Ìý Ìý (48) (46)
Depreciation and amortization—continuing operations (69) Ìý Ìý (72) Ìý Ìý (208) (207)
Corporate and other costs, net(2) [3] (40) Ìý Ìý (36) Ìý Ìý (125) (119)
Net income attributable to noncontrolling interests 15 Ìý Ìý 15 Ìý Ìý 40 46
Business acquisition and integration expenses and purchase accounting inventory adjustments 0 Ìý Ìý (1) Ìý Ìý (3) (11)
Fair value adjustments to Venator investment, net 0 Ìý Ìý (7) Ìý Ìý (5) (9)
Certain legal and other settlements and related expenses (2) Ìý Ìý (1) Ìý Ìý (4) (15)
Costs associated with the Albemarle Settlement, net 0 Ìý Ìý (1) Ìý Ìý 0 (3)
Gain (loss) on sale of business/assets 0 Ìý Ìý (16) Ìý Ìý 1 (27)
Income from transition services arrangements 0 Ìý Ìý 0 Ìý Ìý 0 2
Certain nonrecurring information technology project implementation costs (2) Ìý Ìý (1) Ìý Ìý (5) (4)
Amortization of pension and postretirement actuarial losses (10) Ìý Ìý (10) Ìý Ìý (25) (32)
Plant incident remediation (costs) credits 0 Ìý Ìý (1) Ìý Ìý 0 4
Restructuring, impairment and plant closing and transition costs(3) [4] (11) Ìý Ìý (14) Ìý Ìý (13) (44)
Income from continuing operations before income taxes 43 Ìý Ìý 145 Ìý Ìý 161 726
Income tax expense—continuing operations (27) Ìý Ìý (30) Ìý Ìý (66) (156)
(Loss) income from discontinued operations, net of tax 0 Ìý Ìý (1) Ìý Ìý 120 30
Net income 16 $ 31 $ 168 114 $ 243 $ 243 215 600
Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 1,512 Ìý Ìý 2,019 [2] Ìý Ìý 4,729 6,401
Consolidation, Eliminations [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues (6) Ìý Ìý (8) Ìý Ìý (21) (28)
Polyurethanes [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues [1] 967 [2] Ìý Ìý 1,257 Ìý Ìý 2,970 3,996
Segment adjusted EBITDA [2] 81 Ìý Ìý 138 Ìý Ìý 235 591
Polyurethanes [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA 81 Ìý Ìý 138 Ìý Ìý 235 591
Performance Products [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues [1] 277 Ìý Ìý 434 Ìý Ìý 918 1,406
Segment adjusted EBITDA [2] 47 Ìý Ìý 110 Ìý Ìý 173 408
Performance Products [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA 47 Ìý Ìý 110 Ìý Ìý 173 408
Advanced Materials [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues [1] 268 Ìý Ìý 328 Ìý Ìý 841 999
Segment adjusted EBITDA [2] 49 Ìý Ìý 58 Ìý Ìý 148 192
Advanced Materials [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA $ 49 Ìý Ìý $ 58 Ìý Ìý $ 148 $ 192 [2]
[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) costs associated with the Albemarle Settlement, net; (e) gain (loss) on sale of business/assets; (f) income from transition services arrangements; (g) certain nonrecurring information technology project implementation costs; (h) amortization of pension and postretirement actuarial losses; (i) plant incident remediation credits (j) restructuring, impairment, plant closing and transition costs; and (k) (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.