XML 59 R36.htm IDEA: XBRL DOCUMENT v3.19.3
Segment Information (Tables)
 3 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Segment Sales by Geographic Region
Following is net sales by reportable segment disaggregated by geographic region:
 
Successor
 
 
Predecessor
 
July 2, 2019 through September 30, 2019
 
 
July 1, 2019
 
Three Months Ended September 30, 2018
 
Forest Products Resins
 
Epoxy, Phenolic and Coating Resins
 
Total
 
 
Forest Products Resins
 
Epoxy, Phenolic and Coating Resins
 
Total
 
Forest Products Resins
 
Epoxy, Phenolic and Coating Resins
 
Total
North America
$
248

 
$
206

 
$
454

 
 
$
—

 
$
—

 
$
—

 
$
294

 
$
225

 
$
519

Europe
42

 
184

 
226

 
 
—

 
—

 
—

 
49

 
215

 
264

Asia Pacific
30

 
79

 
109

 
 
—

 
—

 
—

 
35

 
80

 
115

Latin America
47

 
—

 
47

 
 
—

 
—

 
—

 
53

 
1

 
54

Total
$
367

 
$
469


$
836

 
 
$
—

 
$
—

 
$
—

 
$
431

 
$
521

 
$
952

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
Predecessor
 
July 2, 2019 through September 30, 2019
 
 
January 1, 2019 through July 1, 2019
 
Nine Months Ended September 30, 2018
 
Forest Products Resins
 
Epoxy, Phenolic and Coating Resins
 
Total
 
 
Forest Products Resins
 
Epoxy, Phenolic and Coating Resins
 
Total
 
Forest Products Resins
 
Epoxy, Phenolic and Coating Resins
 
Total
North America
$
248

 
$
206

 
$
454

 
 
$
519

 
$
425

 
$
944

 
$
856

 
$
695

 
$
1,551

Europe
42

 
184

 
226

 
 
90

 
431

 
521

 
155

 
709

 
864

Asia Pacific
30

 
79

 
109

 
 
63

 
147

 
210

 
101

 
218

 
319

Latin America
47

 
—

 
47

 
 
103

 
—

 
103

 
156

 
3

 
159

Total
$
367

 
$
469

 
$
836

 
 
$
775

 
$
1,003

 
$
1,778

 
$
1,268

 
$
1,625

 
$
2,893

( 1)
Intersegment sales are not significant and, as such, are eliminated within the selling segment.
Reconciliation of Segment EBITDA to Net Income
Reconciliation of Net (Loss) Income to Segment EBITDA:
 
Successor
 
 
Predecessor
 
Successor
 
 
Predecessor
 
July 2, 2019 through September 30, 2019
 
 
July 1, 2019
 
Three Months Ended September 30, 2018
 
July 2, 2019 through September 30, 2019
 
 
January 1, 2019 through July 1, 2019
 
Nine Months Ended September 30, 2018
Reconciliation:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income attributable to Hexion Inc.
$
(43
)
 
 
$
3,054

 
$
(18
)
 
$
(43
)
 
 
$
2,894

 
$
(53
)
Net income attributable to noncontrolling interest
—

 
 
—

 
—

 
—

 
 
(1
)
 
(1
)
Net (loss) income
(43
)
 
 
3,054

 
(18
)
 
(43
)
 
 
2,895

 
(52
)
Income tax (benefit) expense
(4
)
 
 
207

 
6

 
(4
)
 
 
222

 
17

Interest expense, net
28

 
 
—

 
83

 
28

 
 
89

 
250

Depreciation and amortization
55

 
 
—

 
27

 
55

 
 
52

 
85

Accelerated depreciation
—

 
 
—

 
2

 
—

 
 
—

 
2

EBITDA
$
36

 
 
$
3,261

 
$
100

 
$
36

 
 
$
3,258

 
$
302

Adjustments to arrive at Segment EBITDA:
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset impairments and write-downs
$
—

 
 
$
—

 
$
7

 
$
—

 
 
$
—

 
$
32

Business realignment costs
13

 
 
—

 
5

 
13

 
 
15

 
19

Gain on disposition
—

 
 
—

 
—

 
—

 
 
—

 
(44
)
Transaction costs
5

 
 
—

 
4

 
5

 
 
26

 
10

Realized and unrealized foreign currency losses (gains)
9

 
 
—

 
4

 
9

 
 
(6
)
 
26

Reorganization items, net (1)
—

 
 
(3,232
)
 
—

 
—

 
 
(3,076
)
 
—

Non-cash impact of inventory step-up (2)
29

 
 
(29
)
 
—

 
29

 
 
(29
)
 
—

Other (3)
7

 
 
18

 
8

 
7

 
 
45

 
29

Total adjustments
63

 
 
(3,243
)
 
28

 
63

 
 
(3,025
)
 
72

Segment EBITDA
$
99

 
 
$
18

 
$
128

 
$
99

 
 
$
233

 
$
374

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Segment EBITDA:
 
 
 
 
 
 
 
 
 
 
 
 
 
Forest Products Resins
$
66

 
 
$
18

 
$
76

 
$
66

 
 
$
152

 
$
219

Epoxy, Phenolic and Coating Resins
50

 
 
—

 
66

 
50

 
 
111

 
208

Corporate and Other
(17
)
 
 
—

 
(14
)
 
(17
)
 
 
(30
)
 
(53
)
Total
$
99

 
 
$
18

 
$
128

 
$
99

 
 
$
233

 
$
374