Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Financial information by segment is summarized below. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our 2020 Annual Report.


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions)	2021		2020		2021		2020
Revenue:
Western Hemisphere	$	425	$	310	$	815	$	898
Eastern Hemisphere	478		511		920		$	1,138
Total Revenue	903		821		$	1,735	$	2,036
Operating Income (Loss):
Western Hemisphere	28		(23)		$	52	$	6
Eastern Hemisphere	6		15		(13)		33
Total Segment Operating Income (Loss)	34		(8)		39		39
Corporate (a)	(17)		(26)		(35)		(52)
Total Operating Income (Loss) Before Impairments, Restructuring and Other (Charges) Credits	17		(34)		4		(13)
Impairments and Other (Charges) Credits, Net (b)	8		(406)		8		(1,223)
Restructuring Charges	—		(57)		—		(83)

Total Operating Income (Loss)	25		(497)		$	12	(1,319)
Interest Expense, Net	(72)		(59)		(142)		(117)
Reorganization Items	—		—		—		(9)
Other Expense, Net	(11)		(11)		(15)		(36)
Loss Before Income Taxes	$	(58)	$	(567)	$	(145)	$	(1,481)

(a)Corporate also includes eliminations of intercompany margins associated with transfers of assets and inventory that were $1 million and $10 million in the three months ended June 30, 2021 and 2020, respectively. The six months ended June 30, 2021 and 2020, included elimination of intercompany margins of $1 million and $18 million, respectively.

(b)The three and six months ended June 30, 2021 primarily included gains on the disposition of assets, lease terminations and litigation matters, partially offset by the write-down of inventory. The three and six months ended June 30, 2020, primarily includes the impairment of goodwill, property, plant and equipment, intangibles and right of use assets and other charges. See “Note 5 – Long-lived Asset Impairments” and “Note 6 – Goodwill and Intangible Assets” for additional information.