Business Segments (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Business Segment Reporting Information

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(In millions)	2021		2020			2021		2020
Sales:
Americas	$	2,967	$	1,823		$	7,010	$	4,630
Europe, Middle East and Africa		1,397		1,156			3,858		2,827
Asia Pacific		570		486			1,556		1,208
Net Sales	$	4,934	$	3,465		$	12,424	$	8,665
Segment Operating Income (Loss):
Americas	$	259	$	106		$	606	$	(181	)
Europe, Middle East and Africa		81		22			198		(141	)
Asia Pacific		32		34			93		6
Total Segment Operating Income (Loss)	$	372	$	162		$	897	$	(316	)
Less:
Goodwill and other asset impairments	$	—	$	—		$	—	$	330
Rationalizations (Note 4)		13		25			81		133
Interest expense		104		88			280		246
Other (income) expense (Note 5)		9		32			73		93
Asset write-offs and accelerated depreciation (Note 4)		1		4			1		94
Corporate incentive compensation plans		25		14			58		24
Retained expenses of divested operations		3		2			10		5
Other(1)		30		7			76		26
Income (Loss) before Income Taxes	$	187	$	(10	)	$	318	$	(1,267	)

(1)Increases for the three and nine months ended September 30, 2021 were driven by the acquisition of Cooper Tire.

Rationalizations, Asset sales, Other Expense and Asset Write-offs and Accelerated Depreciation Attributable to the SBUs

Goodwill and other asset impairments; rationalizations, as described in Note to the Consolidated Financial Statements No. 4, Costs Associated with Rationalization Programs; net (gains) losses on asset sales, as described in Note to the Consolidated Financial Statements No. 5, Other (Income) Expense; and asset write-offs and accelerated depreciation were not charged to the strategic business units ("SBUs") for performance evaluation purposes but were attributable to the SBUs as follows:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(In millions)	2021			2020		2021			2020
Goodwill and Other Asset Impairments:
Americas	$	—		$	—	$	—		$	148
Europe, Middle East and Africa		—			—		—			182
Total Segment Goodwill and Other Asset Impairments	$	—		$	—	$	—		$	330
Rationalizations:
Americas	$	11		$	9	$	29		$	81
Europe, Middle East and Africa		2			12		46			48
Asia Pacific		—			4		—			4
Total Segment Rationalizations	$	13		$	25	$	75		$	133
Corporate		—			—		6			—
	$	13		$	25	$	81		$	133
Net (Gains) Losses on Asset Sales:
Europe, Middle East and Africa	$	(8	)	$	—	$	(8	)	$	2
Total Segment Net (Gains) Losses on Asset Sales	$	(8	)	$	—	$	(8	)	$	2
Corporate		(2	)		—		(2	)		—
	$	(10	)	$	—	$	(10	)	$	2
Asset Write-offs and Accelerated Depreciation:
Americas	$	—		$	4	$	—		$	93
Europe, Middle East and Africa		1			—		1			1
Total Segment Asset Write-offs and Accelerated Depreciation	$	1		$	4	$	1		$	94

Segment Assets

The following table presents segment assets:

	September 30,		December 31,
(In millions)	2021		2020
Assets
Americas	$	10,092	$	6,666
Europe, Middle East and Africa		5,639		4,825
Asia Pacific		3,053		2,725
Total Segment Assets		18,784		14,216
Corporate(1)		2,833		2,290
	$	21,617	$	16,506

(1)Corporate includes substantially all of our U.S. net deferred tax assets.