Segment Information

3 Months Ended

Mar. 31, 2020

Segment, Geographic and Product Line Information

NOTE 8 – SEGMENT INFORMATION

Our business is comprised of three operating and reportable segments: U.S., Canada and International. Our International segment consists of our operations outside of the U.S. and Canada. These segments represent our business of selling PVF to the energy sector across each of the upstream production (exploration, production and extraction of underground oil and gas), midstream pipeline (gathering and transmission of oil and gas), gas utilities and downstream and industrial (crude oil refining and petrochemical and chemical processing and general industrials) sectors.

The following table presents financial information for each reportable segment (in millions):


	Three Months Ended
	March 31,		March 31,
	2020		2019
Sales
U.S.	$	638	$	779
Canada		50		68
International		106		123
Consolidated sales	$	794	$	970

Operating income
U.S.	$	18	$	32
Canada		-		-
International		4		3
Total operating income		22		35

Interest expense		(8)		(11)
Other, net		-		-
Income before income taxes	$	14	$	24


	March 31,		December 31,
	2020		2019
Total assets
U.S.	$	1,913	$	1,915
Canada		95		91
International		293		319
Total assets	$	2,301	$	2,325

Our sales by product line are as follows (in millions):


	Three Months Ended
	March 31,		March 31,
Type	2020		2019
Line pipe	$	100	$	154
Carbon fittings and flanges		115		153
Total carbon pipe, fittings and flanges		215		307
Valves, automation, measurement and instrumentation		323		383
Gas products		134		133
Stainless steel and alloy pipe and fittings		37		50
General products		85		97
	$	794	$	970