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Financial Information by Segment (Tables)
 3 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Financial Information by Reportable Segment

Financial information by reportable segment is as follows:

 

 

 

Reinforcement
Materials

 

 

Performance
Chemicals

 

 

Segment
Total

 

 

Unallocated
and Other(1)

 

 

Consolidated
Total

 

 

 

(In millions)

 

Three Months Ended December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers(2)

 

$

641

 

 

$

285

 

 

$

926

 

 

$

32

 

 

$

958

 

Income (loss) before income taxes(3)

 

$

129

 

 

$

34

 

 

$

163

 

 

$

(69

)

 

$

94

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers(2)

 

$

643

 

 

$

286

 

 

$

929

 

 

$

36

 

 

$

965

 

Income (loss) before income taxes(3)

 

$

94

 

 

$

29

 

 

$

123

 

 

$

(39

)

 

$

84

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)
Unallocated and Other includes certain items and eliminations necessary to reflect management’s reporting of operating segment results. These items are reflective of the segment reporting presented to the CODM.
(2)
Consolidated Total Revenues from external customers reconciles to Net sales and other operating revenues on the Consolidated Statements of Operations. Revenues from external customers that are categorized as Unallocated and Other reflects external shipping and handling fees, royalties, the impact of unearned revenue, discounting charges for certain Notes receivable, and other by-product revenue. Details are provided in the table below:

 

 

 

Three Months Ended December 31

 

 

 

2023

 

 

2022

 

 

 

(In millions)

 

Shipping and handling fees

 

$

30

 

 

$

33

 

Other

 

 

2

 

 

 

3

 

Total

 

$

32

 

 

$

36

 

 

(3)
Consolidated Total Income (loss) before income taxes reconciles to Income (loss) before income taxes and equity in earnings of affiliated companies on the Consolidated Statements of Operations. Income (loss) before income taxes that are categorized as Unallocated and Other includes:

 

 

 

Three Months Ended December 31

 

 

 

2023

 

 

2022

 

 

 

(In millions)

 

Interest expense

 

$

(22

)

 

$

(22

)

Certain items(a)

 

 

 

 

 

 

Argentina controlled currency devaluation loss (Note B)

 

 

(33

)

 

 

—

 

Global restructuring activities (Note H)

 

 

(9

)

 

 

—

 

Gain on sale of land

 

 

—

 

 

 

1

 

Loss on sale of business

 

 

—

 

 

 

(3

)

Legal and environmental matters and reserves

 

 

—

 

 

 

(1

)

Acquisition and integration-related charges

 

 

—

 

 

 

(1

)

Total certain items

 

 

(42

)

 

 

(4

)

Unallocated corporate costs(b)

 

 

(17

)

 

 

(15

)

General unallocated income (expense)(c)

 

 

13

 

 

 

4

 

Less: Equity in earnings of affiliated companies, net
   of tax(d)

 

 

1

 

 

 

2

 

Total

 

$

(69

)

 

$

(39

)

 

(a)
Certain items are items of expense and income that management does not consider representative of the Company’s fundamental on-going segment results and they are, therefore, excluded from Segment EBIT.
(b)
Unallocated corporate costs are costs that are not controlled by the segments and primarily benefit corporate interests.
(c)
General unallocated income (expense) consists of gains (losses) arising from foreign currency transactions, net of other foreign currency risk management activities, Interest and dividend income, the profit or loss related to the corporate adjustment for unearned revenue and unrealized holding gains (losses) for investments. This does not include items of income or expense that are separately treated as Certain items.
(d)
Equity in earnings of affiliated companies, net of tax, is included in Segment EBIT and is removed in Unallocated and other to reconcile to Income (loss) from operations before income taxes and equity in earnings from affiliated companies.
Revenues from External Customers by Geographic Region

The Company’s segments operate globally. In addition to presenting Revenue from external customers by reportable segment, the following tables further disaggregate Revenues from external customers by geographic region.

 

 

 

Three Months Ended December 31, 2023

 

 

 

Reinforcement
Materials

 

 

Performance
Chemicals

 

 

Consolidated Total

 

 

 

(In millions)

 

Americas

 

$

254

 

 

$

88

 

 

$

342

 

Asia Pacific

 

 

260

 

 

 

120

 

 

 

380

 

Europe, Middle East and Africa

 

 

127

 

 

 

77

 

 

 

204

 

Segment revenues from external customers

 

 

641

 

 

 

285

 

 

 

926

 

Unallocated and other

 

 

 

 

 

 

 

 

32

 

Net sales and other operating revenues

 

 

 

 

 

 

 

$

958

 

 

 

 

Three Months Ended December 31, 2022

 

 

 

Reinforcement
Materials

 

 

Performance
Chemicals

 

 

Consolidated Total

 

 

 

(In millions)

 

Americas

 

$

241

 

 

$

89

 

 

$

330

 

Asia Pacific

 

 

273

 

 

 

126

 

 

 

399

 

Europe, Middle East and Africa

 

 

129

 

 

 

71

 

 

 

200

 

Segment revenues from external customers

 

 

643

 

 

 

286

 

 

 

929

 

Unallocated and other

 

 

 

 

 

 

 

 

36

 

Net sales and other operating revenues

 

 

 

 

 

 

 

$

965