Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

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


	Three Months Ended June 30, 2021						Three Months Ended June 30, 2020
	Adhesives		Coatings and Composites		Total		Adhesives		Coatings and Composites		Total
North America	$	310	$	177	$	487	$	196	$	104	$	300
Europe	3		205		208		4		107		111
Asia Pacific	42		61		103		29		72		101
Latin America	54		—		54		23		—		23
Total	$	409	$	443	$	852	$	252	$	283	$	535

	Six Months Ended June 30, 2021						Six Months Ended June 30, 2020
	Adhesives		Coatings and Composites		Total		Adhesives		Coatings and Composites		Total
North America	$	583	$	316	$	899	$	449	$	258	$	707
Europe	10		383		393		9		261		270
Asia Pacific	79		136		215		62		122		184
Latin America	98		—		98		61		—		61
Total	$	770	$	835	$	1,605	$	581	$	641	$	1,222

(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 June 30, 2021		Three Months Ended June 30, 2020		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
Reconciliation:
Net income (loss)	$	38	$	(42)	$	49	$	(101)

Less: Net loss from discontinued operations	(4)		—		(5)		(3)
Net income (loss) from continuing operations	$	42	$	(42)	$	54	$	(98)
Income tax expense (benefit)	9		(6)		25		(9)
Interest expense, net	24		25		48		51
Depreciation and amortization (1)	51		47		100		96

EBITDA	126		24		227		40
Adjustments to arrive at Segment EBITDA:
Asset impairments	$	—	$	—	$	—	$	16
Business realignment costs (2)	8		18		13		38


Transaction costs (3)	7		1		7		3
Realized and unrealized foreign currency losses	—		—		4		6




Other non-cash items (4)	15		12		25		23
Other (5)	4		1		(2)		3
Total adjustments	34		32		47		89
Segment EBITDA	$	160	$	56	$	274	$	129

Segment EBITDA:
Adhesives	$	75	$	43	$	143	$	98
Coatings and Composites	108		26		173		65
Corporate and Other	(23)		(13)		(42)		(34)
Total	$	160	$	56	$	274	$	129

(1)For the three and six months ended June 30, 2021, accelerated depreciation of $2 has been included in “Depreciation and amortization.” For the three and six months ended June 30, 2020, accelerated depreciation of $1 and $2, respectively, has been included in “Depreciation and amortization.”

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


	Three Months Ended June 30, 2021		Three Months Ended June 30, 2020		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
Severance costs	$	1	$	2	$	—	$	10
In-process facility rationalizations	1		1		2		7
Contractual costs from exited businesses	2		4		4		4
Business services implementation	1		8		3		12
Legacy environmental reserves	2		2		—		4
Other	1		1		4		1

(3)For the three and six months ended June 30, 2021, transaction costs represent the costs associated with professional fees related to strategic projects and the set up of our transition services agreement related to the Held for Sale Business. For the three and six months ended June 30, 2020 the transaction costs primarily included certain professional fees related to strategic projects.

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


	Three Months Ended June 30, 2021		Three Months Ended June 30, 2020		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
Fixed asset write-offs	$	4	$	5	$	5	$	7
Stock-based compensation costs	9		4		15		9
Long-term retention programs	2		3		4		6
Other	—		—		1		1

(5)Other for the periods presented below included:


	Three Months Ended June 30, 2021		Three Months Ended June 30, 2020		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
Legacy and other non-recurring items	$	2	$	2	$	2	$	4
IT outage recoveries, net	—		(3)		—		(4)
Gain on sale of assets	—		—		(4)		—
Financing fees and other	2		2		—		3