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Business Segments
3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Business Segments

NOTE 7. BUSINESS SEGMENTS

 

 

 

Three Months Ended

 

 

 

March 31,

 

(In millions)

 

2020

 

 

2019

 

Sales:

 

 

 

 

 

 

 

 

Americas

 

$

1,673

 

 

$

1,876

 

Europe, Middle East and Africa

 

 

995

 

 

 

1,221

 

Asia Pacific

 

 

388

 

 

 

501

 

Net Sales

 

$

3,056

 

 

$

3,598

 

Segment Operating Income (Loss):

 

 

 

 

 

 

 

 

Americas

 

$

 

 

$

89

 

Europe, Middle East and Africa

 

 

(53

)

 

 

54

 

Asia Pacific

 

 

6

 

 

 

47

 

Total Segment Operating Income (Loss)

 

$

(47

)

 

$

190

 

Less:

 

 

 

 

 

 

 

 

Goodwill impairment (Note 8)

 

$

182

 

 

$

 

Rationalizations (Note 3)

 

 

9

 

 

 

103

 

Interest expense

 

 

73

 

 

 

85

 

Other (income) expense (Note 4)

 

 

27

 

 

 

22

 

Asset write-offs and accelerated depreciation

 

 

4

 

 

 

 

Retained expenses of divested operations

 

 

2

 

 

 

3

 

Other

 

 

24

 

 

 

15

 

Income (Loss) before Income Taxes

 

$

(368

)

 

$

(38

)

 

Non-cash goodwill impairment charges, as described in Note to the Consolidated Financial Statements No. 8, Goodwill and Intangible Assets; rationalizations, as described in Note to the Consolidated Financial Statements No. 3, Costs Associated with Rationalization Programs; net (gains) losses on asset sales, as described in Note to the Consolidated Financial Statements No. 4, 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

 

 

 

March 31,

 

(In millions)

 

2020

 

 

2019

 

Goodwill Impairment:

 

 

 

 

 

 

 

 

Europe, Middle East and Africa

 

$

182

 

 

$

 

Total Goodwill Impairment

 

$

182

 

 

$

 

 

 

 

 

 

 

 

 

 

Rationalizations:

 

 

 

 

 

 

 

 

Americas

 

$

3

 

 

$

7

 

Europe, Middle East and Africa

 

 

6

 

 

 

96

 

Total Rationalizations

 

$

9

 

 

$

103

 

 

 

 

 

 

 

 

 

 

Net (Gains) Losses on Asset Sales:

 

 

 

 

 

 

 

 

Europe, Middle East and Africa

 

$

(1

)

 

$

(5

)

Total Net (Gains) Losses on Asset Sales

 

$

(1

)

 

$

(5

)

 

 

 

 

 

 

 

 

 

Asset Write-offs and Accelerated Depreciation:

 

 

 

 

 

 

 

 

Americas

 

$

4

 

 

$

 

Total Asset Write-offs and Accelerated Depreciation

 

$

4

 

 

$