Business Segments

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Business Segments

NOTE 8. BUSINESS SEGMENTS

	Three Months Ended
	March 31,
(In millions)	2022		2021
Sales:
Americas	$	2,915	$	1,787
Europe, Middle East and Africa		1,426		1,231
Asia Pacific		567		493
Net Sales	$	4,908	$	3,511
Segment Operating Income:
Americas	$	216	$	114
Europe, Middle East and Africa		59		74
Asia Pacific		28		38
Total Segment Operating Income	$	303	$	226
Less:
Rationalizations (Note 4)	$	11	$	50
Interest expense		104		79
Other (income) expense (Note 5)		5		34
Corporate incentive compensation plans		19		9
Retained expenses of divested operations		3		3
Other(1)		27		18
Income before Income Taxes	$	134	$	33

(1)Increase for the three months ended March 31, 2022 was driven by the acquisition of Cooper Tire in 2021.

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

	Three Months Ended
	March 31,
(In millions)	2022			2021
Rationalizations:
Americas	$	7		$	10
Europe, Middle East and Africa		5			36
Asia Pacific		(1	)		—
Total Segment Rationalizations	$	11		$	46
Corporate		—			4
	$	11		$	50
Net (Gains) Losses on Asset Sales:
Americas	$	(4	)	$	—
Total Segment Net (Gains) Losses on Asset Sales	$	(4	)	$	—