Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Sales by Geographic Region

Following is net sales by reportable segment disaggregated by geographic region:

	Three Months Ended March 31, 2021						Three Months Ended March 31, 2020
	Adhesives		Coatings and Composites		Total		Adhesives		Coatings and Composites		Total
North America	$	273	$	139	$	412	$	253	$	154	$	407
Europe	7		178		185		5		154		159
Asia Pacific	37		75		112		33		50		83
Latin America	44		—		44		38		—		38
Total	$	361	$	392	$	753	$	329	$	358	$	687

(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 Income (Loss) to Segment EBITDA:

	Three Months Ended March 31, 2021		Three Months Ended March 31, 2020
Reconciliation:
Net income (loss)	$	11	$	(59)
Less: Net loss from discontinued operations	(1)		(3)
Net income (loss) from continuing operations	$	12	$	(56)
Income tax expense	16		(3)
Interest expense, net	24		26
Depreciation and amortization (1)	49		49
EBITDA	101		16
Adjustments to arrive at Segment EBITDA:
Asset impairments	$	—	$	16
Business realignment costs (2)	5		20
Transaction costs (3)	—		2
Realized and unrealized foreign currency losses	4		6
Other non-cash items (4)	10		11
Other (5)	(6)		2
Total adjustments	13		57
Segment EBITDA	$	114	$	73
Segment EBITDA:
Adhesives	$	68	$	55
Coatings and Composites	65		39
Corporate and Other	(19)		(21)
Total	$	114	$	73

(1)For the three months ended March 31, 2020, accelerated depreciation of $2 has been included in “Depreciation and amortization.”

(2)Business realignment costs for the periods below included:

	Three Months Ended March 31, 2021		Three Months Ended March 31, 2020
Severance costs	$	(1)	$	8
In-process facility rationalizations	1		6
Contractual costs from exited businesses	2		—
Business services implementation	2		4
Legacy environmental reserves	(2)		2
Other	3		—

(3)For the three months ended March 31, 2020, transaction costs included certain professional fees related to strategic projects.

(4)Other non-cash items for the periods presented below included:

	Three Months Ended March 31, 2021		Three Months Ended March 31, 2020
Fixed asset write-offs	$	1	$	2
Stock-based compensation costs	6		5
Long-term retention programs	2		3
Other	1		1

(5)Other for the periods presented below included:

	Three Months Ended March 31, 2021		Three Months Ended March 31, 2020
Legacy and other non-recurring items	$	—	$	2
IT outage recoveries, net	—		(1)
Gain on sale of assets	(4)		—
Financing fees and other	(2)		1