ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

Quarterly report pursuant to Section 13 or 15(d)

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

v3.24.3
Note 20 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Total revenues $ 1,540 [1] Ìý Ìý $ 1,506 Ìý Ìý $ 4,584 [1] $ 4,708
Segment adjusted EBITDA [2] 165 Ìý Ìý 177 Ìý Ìý 467 556
Interest expense, net—continuing operations (21) Ìý Ìý (15) Ìý Ìý (60) (48)
Depreciation and amortization—continuing operations (70) Ìý Ìý (69) Ìý Ìý (214) (208)
Corporate and other costs, net(2) [3] (34) Ìý Ìý (41) Ìý Ìý (124) (128)
Net income attributable to noncontrolling interests 16 Ìý Ìý 15 Ìý Ìý 46 40
Business acquisition and integration expenses and purchase accounting inventory adjustments, net 0 Ìý Ìý 0 Ìý Ìý (21) (3)
Fair value adjustments to Venator investment, net and other tax matter adjustments 5 Ìý Ìý 0 Ìý Ìý 12 (5)
Certain legal and other settlements and related expenses(3) [4] (11) Ìý Ìý (2) Ìý Ìý (13) (4)
(Loss) gain on sale of business/assets (1) Ìý Ìý 0 Ìý Ìý (1) 1
Certain nonrecurring information technology project implementation costs 0 Ìý Ìý (2) Ìý Ìý 0 (5)
Amortization of pension and postretirement actuarial losses (9) Ìý Ìý (10) Ìý Ìý (25) (25)
Restructuring, impairment and plant closing and transition costs(4) [5] (6) Ìý Ìý (11) Ìý Ìý (25) (13)
Income from continuing operations before income taxes 34 Ìý Ìý 42 Ìý Ìý 42 158
Income tax expense—continuing operations (39) Ìý Ìý (27) Ìý Ìý (32) (66)
(Loss) income from discontinued operations, net of tax (12) Ìý Ìý 0 Ìý Ìý (12) 120
Net (loss) income (17) $ 38 $ (23) 15 $ 31 $ 166 (2) 212
ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 1,540 Ìý Ìý 1,506 Ìý Ìý 4,584 4,708
Interest expense, net—continuing operations (21) Ìý Ìý (15) Ìý Ìý (60) (48)
Depreciation and amortization—continuing operations (70) Ìý Ìý (69) Ìý Ìý (214) (208)
Corporate and other costs, net(2) [6] (33) Ìý Ìý (40) Ìý Ìý (121) (125)
Net income attributable to noncontrolling interests 16 Ìý Ìý 15 Ìý Ìý 46 40
Business acquisition and integration expenses and purchase accounting inventory adjustments, net 0 Ìý Ìý 0 Ìý Ìý (21) (3)
Fair value adjustments to Venator investment, net and other tax matter adjustments 5 Ìý Ìý 0 Ìý Ìý 12 (5)
Certain legal and other settlements and related expenses(3) [4] (11) Ìý Ìý (2) Ìý Ìý (13) (4)
(Loss) gain on sale of business/assets (1) Ìý Ìý 0 Ìý Ìý (1) 1
Certain nonrecurring information technology project implementation costs 0 Ìý Ìý (2) Ìý Ìý 0 (5)
Amortization of pension and postretirement actuarial losses (9) Ìý Ìý (10) Ìý Ìý (25) (25)
Restructuring, impairment and plant closing and transition costs(4) [5] (6) Ìý Ìý (11) Ìý Ìý (25) (13)
Income from continuing operations before income taxes 35 Ìý Ìý 43 Ìý Ìý 45 161
Income tax expense—continuing operations (39) Ìý Ìý (27) Ìý Ìý (32) (66)
(Loss) income from discontinued operations, net of tax (12) Ìý Ìý 0 Ìý Ìý (12) 120
Net (loss) income (16) $ 38 $ (21) 16 $ 31 $ 168 1 215
Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 1,544 Ìý Ìý 1,512 Ìý Ìý 4,601 4,729
Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [7] 165 Ìý Ìý 177 Ìý Ìý 467 556
Consolidation, Eliminations [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues (4) Ìý Ìý (6) Ìý Ìý (17) (21)
Polyurethanes [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 1,003 [1] Ìý Ìý 967 Ìý Ìý 2,930 [1] 2,970
Segment adjusted EBITDA [2] 76 Ìý Ìý 81 Ìý Ìý 195 235
Polyurethanes [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [7] 76 Ìý Ìý 81 Ìý Ìý 195 235
Performance Products [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 280 [1] Ìý Ìý 277 Ìý Ìý 870 [1] 918
Segment adjusted EBITDA [2] 42 Ìý Ìý 47 Ìý Ìý 130 173
Performance Products [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [7] 42 Ìý Ìý 47 Ìý Ìý 130 173
Advanced Materials [Member] | Operating Segments [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total revenues 261 [1] Ìý Ìý 268 Ìý Ìý 801 [1] 841
Segment adjusted EBITDA [2] 47 Ìý Ìý 49 Ìý Ìý 142 148
Advanced Materials [Member] | Operating Segments [Member] | ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International LLC [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Segment adjusted EBITDA [7] $ 47 Ìý Ìý $ 49 Ìý Ìý $ 142 $ 148
[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] Certain legal and other settlements and related expenses for the three and nine months ended September 30, 2024 includes approximately $10 million related to the settlement of a claim in connection with a commercial dispute.
[5] Includes costs associated with transition activities related primarily to our Corporate program to optimize our global approach to managed services in various information technology functions and our program to realign our cost structure in Europe.
[6] 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.
[7] 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.