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Business Segments (Tables)
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Business Segment Reporting Information

 

 

 

Three Months Ended

 

 

 

March 31,

 

(In millions)

 

2021

 

 

2020

 

Sales:

 

 

 

 

 

 

 

 

Americas

 

$

1,787

 

 

$

1,673

 

Europe, Middle East and Africa

 

 

1,231

 

 

 

995

 

Asia Pacific

 

 

493

 

 

 

388

 

Net Sales

 

$

3,511

 

 

$

3,056

 

Segment Operating Income (Loss):

 

 

 

 

 

 

 

 

Americas

 

$

114

 

 

$

 

Europe, Middle East and Africa

 

 

74

 

 

 

(53

)

Asia Pacific

 

 

38

 

 

 

6

 

Total Segment Operating Income (Loss)

 

$

226

 

 

$

(47

)

Less:

 

 

 

 

 

 

 

 

Goodwill Impairment

 

$

 

 

$

182

 

Rationalizations (Note 3)

 

 

50

 

 

 

9

 

Interest expense

 

 

79

 

 

 

73

 

Other (income) expense (Note 4)

 

 

34

 

 

 

27

 

Asset write-offs and accelerated depreciation (Note 3)

 

 

 

 

 

4

 

Corporate incentive compensation plans

 

 

9

 

 

 

3

 

Retained expenses of divested operations

 

 

3

 

 

 

2

 

Other

 

 

18

 

 

 

21

 

Income (Loss) before Income Taxes

 

$

33

 

 

$

(368

)

 

 

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

Goodwill impairment; 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)

 

2021

 

 

2020

 

Goodwill Impairment:

 

 

 

 

 

 

 

 

Europe, Middle East and Africa

 

$

 

 

$

182

 

Total Segment Goodwill Impairment

 

$

 

 

$

182

 

 

 

 

 

 

 

 

 

 

Rationalizations:

 

 

 

 

 

 

 

 

Americas

 

$

10

 

 

$

3

 

Europe, Middle East and Africa

 

 

36

 

 

 

6

 

Total Segment Rationalizations

 

$

46

 

 

$

9

 

Corporate

 

 

4

 

 

 

 

 

 

$

50

 

 

$

9

 

 

 

 

 

 

 

 

 

 

Net (Gains) Losses on Asset Sales:

 

 

 

 

 

 

 

 

Europe, Middle East and Africa

 

$

 

 

$

(1

)

Total Segment Net (Gains) Losses on Asset Sales

 

$

 

 

$

(1

)

 

 

 

 

 

 

 

 

 

Asset Write-offs and Accelerated Depreciation:

 

 

 

 

 

 

 

 

Americas

 

$

 

 

$

4

 

Total Segment Asset Write-offs and Accelerated Depreciation

 

$

 

 

$

4