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Segment and Geographic Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
Segment Information
The Company has two principal operating segments, Performance and Essential Materials and Housing and Infrastructure Products. These segments are strategic business units that offer a variety of different materials and products. The Company manages each segment separately as each business requires different technology and marketing strategies.
The Company's Performance and Essential Materials segment manufactures and markets polyethylene, styrene monomer, ethylene co-products, PVC, VCM, ethylene dichloride ("EDC"), chlor-alkali (chlorine and caustic soda), chlorinated derivative products and epoxy resins. The Company's ethylene production is used in the Company's polyethylene, styrene and VCM operations. In addition, the Company sells ethylene and ethylene co-products, primarily propylene, crude butadiene, pyrolysis gasoline and hydrogen, to external customers. The Company's primary North American manufacturing facilities are located in its Calvert City, Kentucky; Lake Charles, Plaquemine and Geismar, Louisiana; Longview and Deer Park, Texas; Lakeland, Florida and Argo, Illinois sites. The Company's primary European facilities are located in Germany and the Netherlands. The Company produces ethylene and polyethylene at its facilities in Lake Charles, Louisiana; Calvert City, Kentucky and Longview, Texas. The Company produces chlorine, caustic soda, VCM, EDC, PVC, hydrogen and chlorinated derivative materials at its facilities in Lake Charles, Plaquemine and Geismar, Louisiana; Calvert City, Kentucky; Natrium, West Virginia; Longview, Washington; Beauharnois, Quebec; Aberdeen, Mississippi and in Germany. Epoxy resins primarily comprise of Epoxy Specialty Resins and Base Epoxy Resins and Intermediaries. Epoxy Specialty Resins are produced at manufacturing facilities in Duisburg and Esslingen in Germany; Argo and Lakeland in the United States; one plant in Spain and one plant in South Korea. Base Epoxy Resins and Intermediaries are produced at Company's facilities plants in Pernis, the Netherlands and Deer Park, United States. In addition, the Company also has other manufacturing facilities and product development facilities in North America, Europe and Asia.
No single customer accounted for more than 10% of sales in the Performance and Essential Materials segment for the years ended December 31, 2023, 2022 or 2021.
The Housing and Infrastructure Products segment manufactures and markets products including residential siding, trim and mouldings, stone, roofing, windows, outdoor living products, PVC pipe and fittings and PVC compounds. As of December 31, 2023, the Company owned or leased 70 manufacturing facilities in North America, Europe and Asia. The Company's North American PVC facilities within the Performance and Essential Materials segment supply most of the PVC required for the building products and pipes and fittings plants. The raw materials for stone, roofing and accessories, windows, shutters and specialty tool products are externally purchased. PVC required for the PVC compounds plants is either internally sourced from Company's North American or Asian facilities or externally purchased at market prices based on the location of the plants.
No single customer accounted for more than 10% of sales in the Housing and Infrastructure Products segment for the years ended December 31, 2023, 2022 or 2021.
The accounting policies of the individual segments are the same as those described in Note 1.
Year Ended December 31,
202320222021
Net external sales
Performance and Essential Materials
Performance Materials$4,656 $6,964 $5,997 
Essential Materials3,680 4,044 2,673 
Total Performance and Essential Materials8,336 11,008 8,670 
Housing and Infrastructure Products
Housing Products3,494 3,864 2,334 
Infrastructure Products718 922 774 
Total Housing and Infrastructure Products4,212 4,786 3,108 
$12,548 $15,794 $11,778 
Intersegment sales
Performance and Essential Materials$408 $908 $798 
Housing and Infrastructure Products— — — 
$408 $908 $798 
Income (loss) from operations
Performance and Essential Materials$59 $2,416 $2,549 
Housing and Infrastructure Products710 675 356 
Corporate and other(40)(41)(105)
$729 $3,050 $2,800 
Depreciation and amortization
Performance and Essential Materials$881 $784 $665 
Housing and Infrastructure Products207 263 168 
Corporate and other9 9 7 
$1,097 $1,056 $840 
Other income, net
Performance and Essential Materials$25 $37 $33 
Housing and Infrastructure Products32 17 10 
Corporate and other79 19 10 
$136 $73 $53 
Provision for (benefit from) income taxes
Performance and Essential Materials$(63)$435 $542 
Housing and Infrastructure Products194 185 80 
Corporate and other47 29 (15)
$178 $649 $607 
Capital expenditures
Performance and Essential Materials$857 $913 $567 
Housing and Infrastructure Products164 187 88 
Corporate and other13 8 3 
$1,034 $1,108 $658 
A reconciliation of total segment income from operations to consolidated income before income taxes is as follows:
Year Ended December 31,
202320222021
Income from operations for reportable segments$729 $3,050 $2,800 
Interest expense(165)(177)(176)
Other income, net136 73 53 
Income before income taxes$700 $2,946 $2,677 

December 31, 2023December 31, 2022
Total assets
Performance and Essential Materials$13,538 $13,978 
Housing and Infrastructure Products4,888 5,022 
Corporate and other2,609 1,550 
$21,035 $20,550 
Geographic Information
Year Ended December 31,
202320222021
Net sales to external customers (1)
United States$8,955 $10,899 $8,157 
Foreign
Canada808 1,051 980 
Germany602 875 628 
China220 262 216 
Mexico
217 228 149 
Brazil215 353 141 
France
138 172 100 
Italy135 200 181 
Other1,258 1,754 1,226 
$12,548 $15,794 $11,778 

December 31, 2023December 31, 2022
Property, plant and equipment, net
United States$7,395 $7,155 
Foreign
Germany790 749 
Other334 573 
$8,519 $8,477 
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(1)Net sales are attributed to countries based on location of customer.