XML 64 R35.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Schedule of operating segment data
Reportable Segment Data
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In millions)
2020
 
2019
 
2020
 
2019
Net Sales
 
 
 
 
 
 
 
Catalysts Technologies
$
305.7

 
$
361.4

 
$
922.7

 
$
1,106.8

Materials Technologies
113.7

 
109.1

 
336.9

 
346.8

Total
$
419.4

 
$
470.5

 
$
1,259.6

 
$
1,453.6

Adjusted EBIT
 
 
 
 
 
 
 
Catalysts Technologies segment operating income
$
67.1

 
$
105.1

 
$
220.8

 
$
332.6

Materials Technologies segment operating income
24.3

 
26.1

 
55.9

 
74.2

Corporate costs
(18.2
)
 
(18.5
)
 
(50.5
)
 
(52.7
)
Certain pension costs
(3.6
)
 
(4.5
)
 
(10.2
)
 
(13.9
)
Total
$
69.6

 
$
108.2

 
$
216.0

 
$
340.2
Schedule of reconciliation of operating segment data to financial statements Grace Adjusted EBIT for the three and nine months ended September 30, 2020 and 2019, is reconciled below to “income (loss) before income taxes” presented in the accompanying Consolidated Statements of Operations.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In millions)
2020
 
2019
 
2020
 
2019
Grace Adjusted EBIT
$
69.6

 
$
108.2

 
$
216.0

 
$
340.2

Loss on early extinguishment of debt
(39.4
)
 
—

 
(39.4
)
 
—

Costs related to legacy matters
(30.6
)
 
(3.7
)
 
(36.1
)
 
(52.1
)
Restructuring and repositioning expenses attributable to W. R. Grace & Co. shareholders(1)
(2.4
)
 
(3.4
)
 
(26.5
)
 
(12.1
)
Inventory write-offs(2)
(0.1
)
 
—

 
(19.8
)
 
(3.6
)
Third-party acquisition-related costs
(0.3
)
 
(1.4
)
 
(3.8
)
 
(2.7
)
Taxes and interest included in equity in earnings of unconsolidated affiliate
(0.4
)
 
(0.4
)
 
(0.6
)
 
(1.3
)
Interest expense, net
(19.6
)
 
(18.3
)
 
(56.2
)
 
(56.8
)
Net income (loss) attributable to noncontrolling interests
(0.3
)
 
0.1

 
(2.5
)
 
0.2

Income (loss) before income taxes
$
(23.5
)
 
$
81.1

 
$
31.1

 
$
211.8


___________________________________________________________________________________________________________________
(1)
Net of restructuring and repositioning expenses attributable to Grace’s Middle East joint venture partner.
(2)
Inventory write-off in 2020 related to the changes in hydroprocessing catalysts manufacturing operations (see Note 2). Inventory write-off in 2019 related to the idling of Grace’s methanol-to-olefins (“MTO”) manufacturing facility.
Schedule of geographic area data The table below presents information related to the geographic areas in which Grace operates. Sales are attributed to geographic areas based on the location to which the product is transported.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In millions)
2020
 
2019
 
2020
 
2019
Net Sales
 
 
 
 
 
 
 
United States
$
108.7

 
$
124.1

 
$
329.9

 
$
395.9

Canada
9.9

 
13.4

 
34.3

 
42.0

Total North America
118.6

 
137.5

 
364.2

 
437.9

Europe Middle East Africa
182.7

 
195.6

 
526.2

 
604.3

Asia Pacific
97.7

 
117.5

 
310.7

 
345.4

Latin America
20.4

 
19.9

 
58.5

 
66.0

Total
$
419.4

 
$
470.5

 
$
1,259.6

 
$
1,453.6