Segment Information

12 Months Ended

Dec. 31, 2019

Segment Information

Segment Information

2. Segment Information

The Company has three reportable segments and three operating segments based on its geographic locations: Americas, Europe and Asia Pacific. These three segments are aligned with the Company’s internal approach to managing, reporting, and evaluating performance of its global glass operations. Certain assets and activities not directly related to one of the regions or to glass manufacturing are reported with Retained corporate costs and other. These include licensing, equipment manufacturing, global engineering, and certain equity investments. Retained corporate costs and other also includes certain headquarters administrative and facilities costs and certain incentive compensation and other benefit plan costs that are global in nature and are not allocable to the reportable segments.

The Company’s measure of profit for its reportable segments is segment operating profit, which is a non-GAAP financial measure that consists of consolidated earnings from continuing operations before interest income, interest expense, and provision for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations, as well as certain retained corporate costs. The Company’s management uses segment operating profit, in combination with net sales and selected cash flow information, to evaluate performance and to allocate resources. Segment operating profit for reportable segments includes an allocation of some corporate expenses based on both a percentage of sales and direct billings based on the costs of specific services provided.

Financial information regarding the Company’s reportable segments is as follows:

	2019		2018		2017
Net sales:
Americas	$	3,622	$	3,638	$	3,711
Europe		2,387		2,489		2,375
Asia Pacific		634		675		714
Reportable segment totals		6,643		6,802		6,800
Other		48		75		69
Net sales	$	6,691	$	6,877	$	6,869

	2019		2018		2017
Segment operating profit:
Americas	$	495	$	585	$	614
Europe		317		316		263
Asia Pacific		29		44		65
Reportable segment totals		841		945		942
Items excluded from segment operating profit:
Retained corporate costs and other charges		(97)		(106)		(104)
Charge for goodwill impairment		(595)
Charge for asbestos-related costs		(35)		(125)
Pension settlement charges		(26)		(74)		(218)
Restructuring, asset impairment and other		(114)		(102)		(77)
Strategic transaction and corp. modernization costs		(31)
Gain on sale of equity investment		107
Interest expense, net		(311)		(261)		(268)
Earnings (loss) from continuing operations before income taxes	$	(261)	$	277	$	275

							Reportable		Retained		Consoli-
					Asia		Segment		Corp Costs		dated
	Americas		Europe		Pacific		Totals		and Other		Totals
Total assets:
2019	$	5,264	$	3,127	$	1,012	$	9,403	$	207	$	9,610
2018		5,497		3,036		918		9,451		248		9,699
2017		5,411		3,133		1,001		9,545		211		9,756
Equity investments:
2019	$	491	$	101	$	102	$	694	$		$	694
2018		429		98		106		633		65		698
2017		259		95		114		468		57		525
Equity earnings:
2019	$	38	$	18	$	2	$	58	$	20	$	78
2018		39		21				60		17		77
2017		41		18				59		18		77
Capital expenditures:
2019	$	178	$	177	$	66	$	421	$	5	$	426
2018		255		187		92		534		2		536
2017		233		152		55		440		1		441
Depreciation and amortization expense:
2019	$	292	$	136	$	60	$	488	$	11	$	499
2018		293		136		55		484		10		494
2017		310		125		43		478		10		488

The Company’s tangible long lived assets, including property, plant and equipment and operating lease right-of-use assets, by geographic segment are as follows:

	U.S.		Non-U.S.		Total
2019	$	778	$	2,698	$	3,476
2018		681		2,404		3,085
2017		757		2,374		3,131

The Company’s net sales by geographic segment are as follows:

	U.S.		Non-U.S.		Total
2019	$	1,914	$	4,777	$	6,691
2018		2,020		4,857		6,877
2017		2,072		4,797		6,869

None of the years presented had a country with operations outside of the U.S. that accounted for more than 10% or more of consolidated net sales.