Segment Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company operates in two principal operating segments, which are the Company's reportable 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.

	Three Months Ended March 31,
	2025		2024
Net external sales
Performance and Essential Materials
Performance Materials	$	1,056	$	1,164
Essential Materials	794		767
Total Performance and Essential Materials	1,850		1,931
Housing and Infrastructure Products
Housing Products	838		879
Infrastructure Products	158		165
Total Housing and Infrastructure Products	996		1,044
Total reportable segments and consolidated	$	2,846	$	2,975
Intersegment sales
Performance and Essential Materials	$	108	$	111
Housing and Infrastructure Products	—		—
Total reportable segments	$	108	$	111
Significant segment expenses
Performance and Essential Materials
Raw material, energy, manufacturing and logistics costs	$	1,784	$	1,708
Depreciation and amortization	214		206
Total cost of sales	$	1,998	$	1,914
Selling, general and administrative expenses	103		92
Depreciation and amortization	13		14
Restructuring, transaction and integration-related costs	7		—
Total selling, general and administrative expenses	$	123	$	106
Housing and Infrastructure Products
Raw material, energy, manufacturing and logistics costs	$	687	$	676
Depreciation and amortization	35		32
Total cost of sales	$	722	$	708
Selling, general and administrative expenses	108		104
Depreciation and amortization	18		18
Restructuring, transaction and integration-related costs	—		4
Total selling, general and administrative expenses	$	126	$	126

	Three Months Ended March 31,
	2025		2024
Income (loss) from operations
Performance and Essential Materials	$	(163)	$	22
Housing and Infrastructure Products	148		210
Total reportable segments	$	(15)	$	232
Depreciation and amortization
Performance and Essential Materials	$	227	$	220
Housing and Infrastructure Products	53		50
Total reportable segments	280		270
Corporate and other	3		3
Consolidated	$	283	$	273
Other income, net
Performance and Essential Materials	$	9	$	11
Housing and Infrastructure Products	2		4
Total reportable segments	11		15
Corporate and other	26		35
Consolidated	$	37	$	50
Provision for (benefit from) income taxes
Performance and Essential Materials	$	(36)	$	(11)
Housing and Infrastructure Products	33		56
Total reportable segments	(3)		45
Corporate and other	4		3
Consolidated	$	1	$	48
Capital expenditures
Performance and Essential Materials	$	212	$	230
Housing and Infrastructure Products	34		37
Total reportable segments	246		267
Corporate and other	2		5
Consolidated	$	248	$	272

A reconciliation of total reportable segments income from operations to consolidated income before income taxes is as follows:

	Three Months Ended March 31,
	2025		2024
Total reportable segments income from operations	$	(15)	$	232
Corporate and other loss from operations	(17)		(9)
Interest expense	(39)		(40)
Other income, net	37		50
Income before income taxes	$	(34)	$	233

	March 31, 2025		December 31, 2024
Total assets
Performance and Essential Materials (1)	$	13,338	$	13,151
Housing and Infrastructure Products	5,019		4,855
Total reportable segments	18,357		18,006
Corporate and other	2,354		2,744
Consolidated	$	20,711	$	20,750

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(1)Includes equity method investments of $1,075 and $1,081 as of March 31, 2025 and December 31, 2024, respectively.