Segment Information (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Revenues:
Western Hemisphere	$	441	$	316	$	1,256	$	1,214
Eastern Hemisphere	504		491		1,424		$	1,629
Total Revenues	945		807		$	2,680	$	2,843
Operating Income (Loss):
Western Hemisphere	45		(2)		$	97	$	4
Eastern Hemisphere	34		5		21		38
Total Segment Operating Income	79		3		118		42
Corporate (a)	(16)		(28)		(51)		(80)
Total Operating Income (Loss) Before Other Operating Expenses	63		(25)		67		(38)
Goodwill and Long-Lived Asset Impairments	—		—		—		(1,057)
Restructuring Charges	—		(31)		—		(114)
Other (Charges) Credits, Net	8		(4)		16		(170)



Total Operating Income (Loss)	71		(60)		83		(1,379)
Interest Expense, Net (b)	(69)		(64)		(211)		(181)

Loss on Extinguishment of Debt and Bond Redemption Premium	(59)		—		(59)		—
Loss on Termination of ABL Credit Agreement (b)	—		(15)		—		(15)
Other Expense, Net	(4)		(20)		(19)		(65)




Loss Before Income Taxes	$	(61)	$	(159)	$	(206)	$	(1,640)

(a)Corporate also includes eliminations of intercompany margins associated with transfers of assets and inventory that was a benefit of $1 million and expense of $9 million in the three months ended September 30, 2021 and 2020, respectively. The nine months ended September 30, 2021 and 2020, included elimination of intercompany margins of zero and an expense $27 million, respectively.

(b)Loss on Termination of ABL Credit Agreement was included in “Interest Expense Net” in 2020, which has been reclassified to be presented on a consistent basis with 2021.